Pharmacyclics price target raised to $163 from $132 at RW Baird Baird raised its price target on Pharmacyclics following CLL label expansion of Imbruvica as well as positive prescription trends. The firm believes its approval gives a head start on competitors as well as aiding in reimbursement efforts. Shares are Outperform rated.
Pharmacyclics files supplmeental NDA for Imbruvica for macroglobulinemia Pharmacyclics (PCYC) announced that it has submitted a supplemental New Drug Application to the FDA based on data from a Phase 2 study evaluating the use of IMBRUVICA in patients with Waldenstrom's macroglobulinemia. IMBRUVICA, which received FDA Breakthrough Therapy Designation in February 2013 for patients with WM, is being jointly developed and commercialized by Pharmacyclics and Janssen Biotech (JNJ).