3 Top Biotech Stock Picks For 2022, According To This Needham Analyst

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Following recent updates from numerous management teams within the health care space, Needham analyst Ami Fadia has reevaluated the stocks in the firm's coverage universe using a stock selection criteria and a risk-reward matrix.

Let’s examine the firm’s strongest reward/risk picks:
Bicycle Therapeutics PLC BCYC
Needham maintains Buy rating with $85 price target

  • Fadia is positive on the lead nectin-4 asset BT8009, which “demonstrated promising early Phase 1/2 data in urothelial cancer”; sees emerging safety differentiation while “efficacy is comparable to Padcev so far.”
  • The analyst sees the potential to “deepen oncology pipeline and applications beyond oncology” due to “high throughput screen platform using phage display,” which assists lead identification.

Jazz Pharmaceuticals PLC JAZZ
Needham maintains Buy rating with $215 price target

  • “[The] Oxybate franchise is more sustainable than investors appreciate,” with expectations of “minimal erosion of the Xywav volume at least in the near term,” Fadia said. 
  • The analyst highlights future growth due to “newly approved indication Tuberous Sclerosis Complex and off-label use” and attributes recent quarterly growth slumps “due to saturation in Dravet Syndrome and Lennox-Gastaut Syndrome markets.”

Sage Therapeutics Inc. SAGE
Needham maintains Buy rating with $85 price target

  • Fadia said “upcoming data readouts for SAGE-217 are relatively de-risked,” and the analyst expects the Phase 3 study to hit the primary endpoint of HAM-D decrease at day 3 “as SAGE-217 has demonstrated statistically significant separation from placebo at day 2/3.”

 

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Posted In: Analyst ColorLong IdeasHealth CarePrice TargetReiterationSmall CapAnalyst RatingsTrading IdeasGeneralNeedham & CompanyStocks to Watch
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