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May 14, 2014
Boston Biopharma Bus Tour travels throughout Boston on May 14-16.
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November 25, 2015
10:00 EDTIMGNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Actelion (ALIOY) upgraded to Neutral from Sell at Citi... Alliance Data (ADS) assumed with an Overweight from Neutral at Piper Jaffray... BG Group (BRGYY) upgraded to Outperform from Sector Perform at RBC Capital... Cubic (CUB) upgraded to Buy from Hold at Benchmark... Frontline (FRO) upgraded to Neutral from Underperform at Credit Suisse... Hormel Foods (HRL) upgraded to Overweight at Stephens... ImmunoGen (IMGN) assumed with a Buy from Hold at Jefferies... Metro (MTTRY) upgraded to Buy from Hold at Jefferies... Palo Alto (PANW) upgraded to Buy from Hold at Argus... Pfizer (PFE) upgraded to Neutral from Reduce at SunTrust... Tech Data (TECD) upgraded to Market Perform from Underperform at Raymond James.
06:26 EDTIMGNImmunoGen assumed with a Buy from Hold at Jefferies
Jefferies analyst Biren Amin upgraded ImmunoGen to Buy after assuming coverage of the name. Mirvetuximab has shown "robust activity" in patients with ovarian cancer that are highly expressing the folate receptor, and data from an additional 40 patients in Q2 of 2016 could be the next catalyst for the stock, Amin tells investors in a research note. He doubled his price target for ImmunoGen shares to $16 from $8.
November 20, 2015
10:00 EDTXLRNOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Acceleron (XLRN) initiated with an Outperform at Oppenheimer... CSRA (CSRA) initiated with an Outperform at Cowen... HP Enterprise (HPE) initiated with a Neutral at Baird... Hortonworks (HDP) initiated with a Buy at Needham... IBM (IBM) initiated with an Outperform at JMP Securities... ITC Holdings (ITC) initiated with a Buy at Citi... Sucampo (SCMP) initiated with a Hold at Jefferies.
November 19, 2015
19:00 EDTXLRNAcceleron initiated with an Outperform at Oppenheimer
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10:25 EDTXLRNPiper Jaffray healthcare analyst holds an analyst/industry conference call
Sr Research Analyst Schimmer, along with Dr. Alan Cohen, member of the Medical Advisory Board of the Cooley's Anemia Foundation, discuss the emerging treatment options for Beta Thalassemia and Sickle Cell and emerging clinical data for key programs including Bluebird and Bellicum Pharmaceuticals on an Analyst/Industry conference call to be held on November 20 at 1 pm.
November 18, 2015
07:43 EDTALKS, TSROJefferies to hold a conference
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November 16, 2015
14:07 EDTIMGNClovis plunges after lung cancer drug response rate misses expectations
Shares of Clovis Oncology (CLVS) plunged more than 70% after the drugmaker reported new details regarding its cancer drug candidate rociletinib, with new, confirmed data showing an unexpected drop in effectiveness. SURPRISING DRUG RESULTS: Clovis announced this morning new details regarding its rociletinib drug, which is being studied for the treatment of non-small cell lung cancer. According to the company, the Food and Drug Administration is now requesting additional clinical data on the drug, with a renewed focus on so-called confirmed treatment responses. Clovis explained that previous applications submitted to the FDA -- as well as early data on the drug publicized at medical conferences and elsewhere -- contained some immature and unconfirmed results. Perhaps most notably, the company disclosed that "as the efficacy data have matured, the number of patients with an unconfirmed response who converted to a confirmed response was lower than expected," with the current confirmed response rate for rociletinib now standing at 28% for the 500mg dose and 34% for the 625mg group. The primary driver of the low conversion to confirmed responses was due to ineffective tumor shrinkage as well as general disease progression, including brain metastasis, said the company. APPROVAL DELAY: In the wake of this morning's update, Piper Jaffray's Charles Duncan cut his price target on Clovis shares to $28 from $92 while reiterating a Neutral rating. Duncan explained that Clovis had previously reported a 54%-60% unconfirmed response rate for rociletinib, a significant change from today's confirmed numbers. The analyst had previously speculated that rociletinib might further differentiate itself in the market by demonstrating a meaningful impact on brain metastasis, but Monday's commentary from Clovis seems to specifically downplay that possibility. Though the new data "may still ultimately be approvable," Duncan envisions an approval delay of three to six months given what was revealed, and he pushed anticipated first U.S. sales of the drug to the fourth quarter of 2016 while cutting his expected second-line market penetration to just 25% from 45%. RETHINKING CLOVIS: Goldman Sachs analyst Terence Flynn said he views the news as a "significant setback" for rociletinib, especially given that the updated responses rates come in below that of Tagrisso, AstraZeneca's (AZN) recently-approved rival treatment option. As a result, Flynn put his Conviction Buy rating and $123 price target on Clovis "under review." IMMUNOGEN PRESSURED: Weighing in on the news, RBC's Simos Simeonidis speculated that Monday's selloff in ImmunoGen (IMGN) shares could be related to the Clovis update, as investors may be drawing a parallel between the company's IMGN853 and rociletinib. IMGN853 saw a similar drop in efficacy when adjusting data for confirmed responses, but the drug looks outright potent when limiting results to just key patient groups, the analyst contended. Though IMGN853 will still have to prove itself in larger trials, Simeonidis nevertheless sees the current weakness in ImmunoGen as a buying opportunity. PRICE ACTION: Shares of Clovis have dived more than $71, or 71.5%, to $28.35 in afternoon trading, while ImmunoGen has fallen 7% to $11.62. AstraZeneca, meanwhile, is up better than 4%.
12:21 EDTIMGNImmunoGen selloff on Clovis news unwarranted, says RBC Capital
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08:15 EDTTSROTESARO launches Varubi in U.S.
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08:12 EDTALKSLeerink reiterates Outperform rating, $84 target on Alkermes
After hosting a conference call with CEO Richard Pops and CFO Jim Frates, Leerink analyst Paul Matteis reiterates an Outperform rating on Alkermes with an $84 price target. The analyst continues to believe the '5461 FORWARD Phase 3 program for depression is "employing a robust, proven study design." The drug likely only needs to hit on two of three pivotal efficacy studies for FDA approval, Matteis reiterates to investors in a research note.
08:10 EDTTSROTESARO announces launch of VARUBI in US
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07:57 EDTALKSLeerink biotech analyst holds an analyst/industry conference call
Biotech Analyst Matteis, along with MEDACorp specialists Anthony Rothschild, M.D., Director of the University of Massachusetts Depression Center and Darin Dougherty, M.D., Harvard Medical School, discuss their views on Alkermes' ALKS-5461's probability-of-success in Phase III and the commercial potential of ALKS-5461 on an Analyst/Industry conference call to be held on November 16 at 2 pm.
November 13, 2015
09:39 EDTALKSLeerink biotech analyst holds an analyst/industry conference call
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