Latest news with #MattPhipps
Business Insider
2 days ago
- Business
- Business Insider
Evercore ISI Reaffirms Their Hold Rating on Incyte (INCY)
Evercore ISI analyst maintained a Hold rating on Incyte (INCY – Research Report) yesterday and set a price target of $73.00. The company's shares closed yesterday at $67.42. Confident Investing Starts Here: In addition to Evercore ISI, Incyte also received a Hold from William Blair's Matt Phipps in a report issued yesterday. However, on the same day, BMO Capital maintained a Sell rating on Incyte (NASDAQ: INCY). Based on Incyte's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.05 billion and a net profit of $158.2 million. In comparison, last year the company earned a revenue of $880.89 million and had a net profit of $169.55 million Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of INCY in relation to earlier this year. Earlier this month, Thomas Tray, the CAO of INCY sold 1,614.00 shares for a total of $105,515.61.
CNBC
3 days ago
- Business
- CNBC
This biotech stock rallying on cancer treatment data has more room to run, analysts say
Analysts are closely watching Merus and see more upside ahead coming out of one of the biggest biotechnology conferences in the U.S. Merus shares shot up late last month following the release of promising Phase 2 data for a treatment for head and neck cancer. This has made the Netherlands-based company the talk of the investing set that flocked to Chicago for the American Society of Clinical Oncology's annual meeting , which concludes Tuesday. "They're first in class. We think they're best in class," said Matt Phipps, group head of the biotech equity research team at William Blair. "That's just kind of a combination that a lot of investors really want to be a part of." The stock has popped about 40% in the past month and rallied to a new all-time high on Tuesday. Still, multiple analysts interviewed by CNBC Pro said Merus can surge even higher — with one even suggesting shares can more than double from current levels given there are more catalysts on the horizon. MRUS 1M mountain Merus, 1-month Phipps said Merus' data overshadowed a similar report from Bicara Therapeutics , whose shares have tumbled 24% over the past month. He said Merus' release cemented itself as the best drug in combination with Merck 's Keytruda for head and neck cancer. Guggenheim analyst Michael Schmidt said similar success in Phase 3 data could more than double the value of Merus' shares. To be sure, he noted that investors should be prepared to wait between 12 and 18 months to see this upside given the schedule for data releases that can boost the stock. Beyond that, he said the same drug combination has potential for treating colorectal cancer. While Schmidt acknowledged that its not a major focus of investors yet, he said data from ongoing Phase 2 studies expected in the second half of 2025 is something to keep an eye on. Expectations for this, he said, are "very modest." "It's a stock that we have a lot of conviction on," Schmidt said. "We like this story a lot." Multiple analysts interviewed by CNBC said the name could also be an acquisition target from bigger-name biopharmaceutical companies, which could further drive upside. That can also help explain why Wall Street is so bullish. Every analyst polled by LSEG has a buy or strong buy rating, with an average price target suggesting 45% in upside ahead. "You want to buy it now," said BMO analyst Evan Seigerman, who called the company's data "really compelling." "This is the type of company that a large pharma company would want to acquire." Seigerman said the company has both "great" clinical data and is in an area with "unmet need," which is a combination that can make the stock a winner in what he described as a competitive sector. A boost to Merck? The treatment's success can also have knock-on benefits for Merck shares given the potential sales bump for Keytruda, according to Leerink analyst Andrew Berens. Berens said Keytruda is approved as a monotherapy, but only about 20% of patients respond to it, making the average time spent on the drug about few months. But used in conjunction with Merus' product, he noted that data shows that rate shoots up to the high 60% level and increases duration to nearly a year. "It's a win-win for Merck," Berens said. "This drug has its own activity," he said, "but it also means they can sell more of their flagship drug."
Business Insider
15-05-2025
- Business
- Business Insider
William Blair Remains a Buy on Tenax Therapeutics (TENX)
In a report released today, Matt Phipps from William Blair maintained a Buy rating on Tenax Therapeutics (TENX – Research Report). The company's shares closed today at $5.68. Confident Investing Starts Here: 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 Phipps covers the Healthcare sector, focusing on stocks such as Incyte, Bristol-Myers Squibb, and Merus. According to TipRanks, Phipps has an average return of -10.8% and a 33.57% success rate on recommended stocks. Tenax Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $25.00.
Business Insider
07-05-2025
- Business
- Business Insider
Keros Therapeutics (KROS) Gets a Hold from William Blair
William Blair analyst Matt Phipps maintained a Hold rating on Keros Therapeutics (KROS – Research Report) yesterday. The company's shares closed yesterday at $13.76. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. According to TipRanks, Phipps is an analyst with an average return of -10.3% and a 35.07% success rate. Phipps covers the Healthcare sector, focusing on stocks such as Incyte, Bristol-Myers Squibb, and Amgen. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Keros Therapeutics with a $30.71 average price target. Based on Keros Therapeutics' latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.04 million and a GAAP net loss of $46.03 million. In comparison, last year the company earned a revenue of $143 thousand and had a GAAP net loss of $40.24 million Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KROS in relation to earlier this year. Last month, ADAR1 Capital Management, LLC, a Major Shareholder at KROS bought 934,258.00 shares for a total of $9,462,055.64.
Axios
09-04-2025
- Business
- Axios
Tariffs are just part of pharma's Wall Street tumble
Even before President Trump's announcement that he plans a " major tariff" on pharmaceuticals, the sector was getting hammered in the markets — and not just over concerns about higher costs. Why it matters: Investors are also responding to broader uncertainty about the Food and Drug Administration and how the industry will be regulated, experts tell Axios. The big picture: Pharmaceutical companies have seen their market values plummet in the wake of Trump's baseline 10% tariff on U.S. imports and steeper duties on goods from Europe, Japan and China. In the past five days, Pfizer shares dipped more than 10%, Merck slid more than 9% and Amgen shares fell more than 8%. The Dow Jones Pharmaceutical Index is off more than 12% over the past month. The industry has been bracing for expected sector-specific tariffs, though most companies are staying quiet about the threat. "No one knows how to characterize that risk," said William Blair analyst Matt Phipps. Analysts say the picture is complex. Concern has been growing that drug reviews and other key functions of the FDA may be slowed in light of cuts at the agency, which could be particularly devastating for small and midsized companies that have just one or a handful of products. The markets are also reacting to leadership shakeups, most notably the high-profile ouster of Peter Marks, former director of the FDA's Center for Biologics Evaluation and Research. "We think the regulatory uncertainties are actually a much larger risk to the space than the tariff uncertainties," Brian Abrahams, global head of biotechnology research at RBC Capital Markets, told Axios. Zoom in: Eli Lilly — which produces a material amount of its blockbuster GLP-1 drugs in Ireland — has seen its share price slip more than 9% over the past five days. CEO David Ricks told the BBC that drug companies like his would be forced to take on the full burden of tariffs rather than pass the costs to consumers because there are so many controls on the price of medicine. But Lilly was likely also impacted by the Trump administration dropping a Biden plan for Medicare to cover the drug class for obesity, Phipps said. Others, such as vaccine makers Pfizer and Moderna, may be more affected by questions about vaccine policy under a Health and Human Services agency run by Robert F. Kennedy Jr., he said. Most recently, Kennedy, a vaccine skeptic, offered lukewarm support for the MMR vaccine and promoted unconventional therapies in the face of a measles outbreak in Texas. What to watch: Trump said on Tuesday night he is planning a "major tariff on pharmaceuticals," complaining that the United States doesn't produce its own pharmaceuticals anymore, per a pool report. "Once we do that, they're going to come rushing back," Trump said, speaking at the National Republican Congressional Committee President's Dinner. The lingering question is whether there will be carve-outs, and where the duties will be applied, which could make a big difference in how much pain companies sustain. Reality check: Multiple companies, including Lilly, have said they're moving more manufacturing to the U.S., but it's not fast or easy to onshore drug and medical products made overseas to mitigate the potential impact of tariffs, analysts say. Building up that manufacturing capacity would take time, potentially years, they said. And the prices of raw materials needed to build them are also expected to be higher due to tariffs, adding to the upfront cost to companies, said Pankit Bhalodia, leader in life science practice at West Monroe. Drug manufacturing generally costs very little for pharma companies compared to their spending on research and development, which is difficult to put a tariff on.
