Market Overview

Credit Suisse Analysts Assume Coverage On 10 Biotech Stocks


Analysts led by Jeremiah Shepard at Credit Suisse assumed coverage for the SMID biotech stocks listed below.

The following includeds highlights from the analysts along with the current ratings and price targets:

Alder Biopharmaceuticals Inc (NASDAQ: ALDR) – Outperform, target price $36

“Alder is developing a new antibody therapeutic for the multibillion dollar migraine setting.” More news to come at the May 14-17 International Headache Society meeting.

ImmunoGen, Inc. (NASDAQ: IMGN) – Neutral, target price $10

“The ASCO meeting next month will be important for IMGN, as its partner, Roche, will present complete MARIANNE Phase 3 data for Kadcyla.”

Kite Pharma Inc (NASDAQ: KITE) – Outperform, target price $79

“[Kite] has been actively working to expand its technology platform and it recently entered into a new partnership with AMGN for new tumor targets.”

Prothena Corporation PLC (NASDAQ: PRTA) – Outperform, target price $53

“We continue to expect its Parkinson's disease program, partnered with Roche, to gain increased investor attention over the next 12 months.”

PTC Therapeutics, Inc. (NASDAQ: PTCT) – “TOP IDEA,” Outperform, target price $100

“We believe that the initial trajectory [for Translarna] is tracking well and that this number should gradually ramp in 2015 as the company gains access to additional EU countries.”

Regeneron Pharmaceuticals Inc (NASDAQ: REGN) – Outperform, target price $400

“REGN's most underappreciated asset is, in our opinion, its proprietary sequencing effort at the Regeneron Genetics Center. Information gained form this initiative could significantly expand the company's pipeline.”

Seattle Genetics, Inc. (NASDAQ: SGEN) – Outperform, target price $51

“The most important value inflection points are (1) potential FDA approval for Adcetris in the post-tranplant setting in 2015, (2) data for ALCANZA in 2016, and (3) data readouts for ECHELON-1 and ECHELON-2 in the 2017/2018.”

Spark Therapeutics Inc (NASDAQ: ONCE) – Outperform, target price $76

“ONCE is a leading gene therapy technology company and its lead program, SPK-RPE65, has FDA Breakthrough Therapy Designation.”

Xencor Inc (NASDAQ: XNCR) – Outperform, target price $14

“XNCR can modify and improve the activity of therapeutic antibodies, including better tumor killing, longer half-life, and immune down-regulation.”

XOMA Corp (NASDAQ: XOMA) – Neutral, target price $5

“XOMA is on the verge of completing its first Phase III trial of its lead drug, and this the most important near-term catalyst for the stock. There is optionality for this lead program in additional indications, including pyoderma gangrenosum.”


Related Articles (IMGN + ALDR)

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Posted-In: Credit Suisse Jeremiah ShepardAnalyst Color Biotech Initiation Analyst Ratings

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