Latest news with #Leerink
Business Insider
3 days ago
- Business
- Business Insider
Arvinas downgraded to Market Perform from Outperform at Leerink
Leerink analyst Andrew Berens downgraded Arvinas (ARVN) to Market Perform from Outperform with a price target of $9, down from $10, after the company presented full results from the Phase 3 VERITAC-2 trial evaluating vepdegestrant in second-line HR+/HER2- metastatic breast cancer patients. The firm says that while the full presentation demonstrates the drug is active in patients with ESR1 mutations and likely approvable, it is not convinced vepdeg is best-in-class. Further, a number of key uncertainties in the rapidly evolving treatment paradigm for ESR1m breast cancer landscape have emerged, the analyst tells investors in a research note. Leerink 'gradually tempered the ESR1m rate in second-line from 30% to 15% to reflect potential impact from the SERENA-6 data, as well as ongoing first-line oral SERD trials, lowering its assumed worldwide peak vepdeg sales to $416M from $576M.
Business Insider
6 days ago
- Business
- Business Insider
Regeneron price target lowered to $645 from $686 at Leerink
Leerink lowered the firm's price target on Regeneron (REGN) to $645 from $686 and keeps an Outperform rating on the shares. In the wake of itepekimab's failure in one of two Phase 3 COPD trials, the firm is removing the drug from its model and lowering its price target on the shares, the analyst tells investors in a research note. The firm noted that its investment thesis is that Regeneron shares can outperform from current levels because it expects growth to accelerate after a big Eylea sales/earnings stepdown in 2025; pipeline newsflow is likely to improve after several months of disappointing press releases, and; shares are trading near historical low multiple levels. The company should return to growth in 2026 and accelerate in 2027, the analyst adds. Confident Investing Starts Here:
Business Insider
28-05-2025
- Business
- Business Insider
Rocket Pharmaceuticals downgraded to Market Perform from Outperform at Leerink
Leerink downgraded Rocket Pharmaceuticals (RCKT) to Market Perform from Outperform with a price target of $8, down from $37, after the company said a Danon disease patient participating in the Phase 2 pivotal trial of RP-A501 experienced an unexpected serious adverse event related to a capillary leak syndrome. Today's update raises three key concerns that will weigh on shares until they can collectively be resolved – addressing the safety uncertainty, re-establishing investor confidence, and alleviating the balance sheet overhang, the analyst tells investors in a research note. While Rocket is in active dialogue with the FDA, the company could not provide anticipated timelines for future discussions/resolution of clinical hold as of yet, the firm added. Confident Investing Starts Here:
Business Insider
28-05-2025
- Business
- Business Insider
Boundless Bio downgraded to Market Perform from Outperform at Leerink
Leerink downgraded Boundless Bio (BOLD) to Market Perform from Outperform with a price target of $3, down from $15. The company is discontinuing current monotherapy and combination arms of BBI-355 in the Phase 1/2 POTENTIATE clinical trial based on a narrow therapeutic index observed with dosing, the analyst tells investors in a research note. The firm is moving to the sidelines pending validation of Boundless Bio's new approach. It removed all value for the CHK1 program until the company validates the BBI-355 and BBI-825 combination hypothesis in specific tumor types. Confident Investing Starts Here:
Yahoo
17-05-2025
- Business
- Yahoo
Leerink bullish on BioMarin following Inozyme deal, expects additional BD
Leerink analyst Joseph Schwartz notes BioMarin (BMRN) believes INZ-701 could be a $400M-$600M opportunity at peak, making it a nice addition to the company's ERT portfolio; this is likely the first business development deal in 2025. Before market open on Friday, BioMarin disclosed a definitive agreement to acquire Inozyme Pharma (INZY) for $4.00/share in an all-cash transaction for a total consideration of $270M. Leerink says it had been waiting for BioMarin to do some business development as it knew it was going to be part of their strategy moving forward, especially with James Sabry as Chief Business Officer. Overall, the firm thinks this first deal complements BioMarin's existing infrastructure and expertise in ERTs very nicely and looks forward to additional potential BD transactions to further supplement the company's pipeline. Leerink reiterates an Outperform rating on the shares. Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on BMRN: Disclaimer & DisclosureReport an Issue BioMarin Pharmaceutical's Strategic Growth and Market Potential: A Buy Rating by Yun Zhong BioMarin says Inozyme deal to strengthen enzyme therapies portfolio BioMarin Acquires Inozyme Pharma for $270 Million BioMarin's acquisition of Inozyme to strengthen enzyme therapies portfolio BioMarin to acquire Inozyme for $4.00 per share in cash, or $270M Sign in to access your portfolio
