Courtesy of Benzinga.
The American Society of Hematology (ASH) held its annual December meeting in San Diego, where some of the biggest biotech companies announced clinical trial results, new drug updates and future initiatives. In separate reports, Cantor Fitzgerald analysts mentioned their takes on the announcements by three biotech companies.
Celgene
Analyst Mara Goldstein reiterated a Buy rating on Celgene Corporation (NASDAQ: CELG), with a price target of $159, saying that the ASH was supportive of the company’s “revenue growth targets spread across potential multiple drivers.”
Revlimid would likely remain a growth driver. Goldstein further noted that growth could be generated even without a positive read out for all the potential indications, since its growth potential was spread across multiple opportunities.
“In addition to the existing IMID franchise, data across a number of candidates, including those fully owned (such as CC-486 and CC-220) and those licensed (such as AGI-221, luspatercept, and bb2121), potentially provide multiple levers for growth,” Goldstein wrote.
Bellicum Pharma
Analyst Elemer Piros reiterated a Buy rating on Bellicum Pharmaceuticals Inc (NASDAQ: BLCM), with a price target of $32.
Bellicum Pharma presented updated BPX-501 data in patients receiving haplo-HSCT due to primary immune deficiencies (PIDs) and hemoglobinopathies. “Patients with nonmalignant disease remain alive, achieve effective cures of prior disease, and are GvHD-free,” Piros wrote.
Hemoglobinopathy patients achieved hemoglobin levels that were far superior than that reported by bluebird bio Inc (NASDAQ: BLUE) (Rated: Sell).
“We believe these data with BPX-501 provide strong support for enabling haplo-HSCT for patients as a more viable treatment option in the treatment of non-malignant diseases,” the analyst added.
Seattle Genetics
Analyst Mara Goldstein maintains a Hold rating on Seattle Genetics, Inc. (NASDAQ: SGEN), with a price target of $43, saying that although the company’s ASH presentation was positive, this is already baked into the shares.
Seattle Genetics made multiple presentations on vadastuximab talirine as well as ADCETRIS. The vadastuximab talirine is a positive and could “excite investors;” however, “[we] may be more reserved than others about this dataset given background rate of remission typically observed in the frontline setting for younger patients, and the trial population that included younger patients, with intermediate and adverse cytogenetic risk,” Goldstein mentioned.
The company would be launching a Phase II program in the front-line setting, complementing the existing Phase III in older patients as well as other indications.
At Last Check
- Bellicum shares were down 0.78 percent at $16.46.
- Bluebird bio shares were up 0.21 percent at $71.95.
- Celgene was up 0.73 percent at $113.85.
- Seattle Genetics shares were slightly down (0.28 percent), trading at $66.74.
Latest Ratings for CELG
Date | Firm | Action | From | To |
---|---|---|---|---|
Nov 2016 | Oppenheimer | Initiates Coverage On | Outperform | |
Nov 2016 | Standpoint Research | Downgrades | Buy | Hold |
Nov 2016 | Mizuho | Initiates Coverage On | Buy |
View More Analyst Ratings for CELG
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