Market Overview

5 Biotechs Leerink Analysts Are Watching

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In a recent report, analysts at Leerink shared their views on a ton of biotech stocks. Here is a look at five of them.

Encouraged by strong MEDACorp survey feedback on Galafold (migalastat) in Fabry disease, the analysts reiterate an Outperform rating and $23 price target on shares of Amicus Therapeutics, Inc. (NASDAQ: FOLD) ahead of Galafold’s pre-NDA meeting and NDA filing, expected for the third quarter and second half of the year, respectively. Also positive is the continued advancement of the company’s proprietary ERTs.

On Monday, Impax Laboratories Inc (NASDAQ: IPXL) reported top line results above consensus, but disappointed investors with its gross margins and guidance. With Rytary launch looking just decent in early days and management focusing on maximizing the company’s pipeline value outside of Hayward-source ANDA's, Leerink maintains a Market Perform, while trimming its price target from $49 to $47.

CareDx Inc (NASDAQ: CDNA) also reported quarterly results recently, missing revenue and test volumes expectations. However, the quarter saw plenty of progress in kidney trials, which leads the experts to maintain their $10 price target and our Outperform rating.

Another company that reported its results on Monday is Celldex Therapeutics, Inc. (NASDAQ: CLDX). The company announced it “will only seek approval of Rintega (rindopepumut) for the treatment of EGFRvIII positive glioblastoma (GBM) patients upon completion of the ACT IV study in front-line GBM.” The analysts assure they are not surprised by this, and maintain their investment thesis and model untouched, reiterating an Outperform rating and $45 price target.

DBV Technologies SA – ADR (NASDAQ: DBVT) also announced financial results recently. The analysts are particularly “encouraged by timely execution of mid to-late stage development of Viaskin Peanut and Milk programs, the former of which remains on track to embark upon a global Ph.3 PEPITES trial in 4Q15.” Consequently, they reiterate an Outperform rating, while raising their target from $44 to $56.

Latest Ratings for FOLD

Jan 2017BairdUpgradesNeutralOutperform
May 2016Bank of AmericaInitiates Coverage onBuy
Apr 2016BairdInitiates Coverage onNeutral

View More Analyst Ratings for FOLD
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Posted-In: Analyst Color Biotech Long Ideas Price Target Reiteration Analyst Ratings Trading Ideas General


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