4 Hot Analyst Reads For Monday, July 30th

Bret Jensen

The three great essentials to achieve anything worthwhile are, first, hard work; second, stick-to-itiveness; third, common sense.” ― Thomas A. Edison

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Small biotech stocks were shellacked last week as the market punished high beta parts of the market. We will hope to get off to a better start this Monday in this space. Here are four small biotech stocks garnering new analyst commentary as we prepare to open up a new trading week.

After visiting Global Blood Therapeutics (GBT) late last week, Oppenheimer reissues their Outperform rating and $74 price target before the bell. Here is Oppenheimer's current take on the company.

“Friday, we took the road to visit investors in San Francisco and discuss the company’s regulatory strategy for voxelotor. Global Blood is pursuing an accelerated (subpart H) approval in sickle cell disease (SCD) based on the robust hemoglobin (Hb) response seen in the company’s ongoing HOPE study. Accelerated approval could be granted based on the drug’s ability to mitigate SCD-related anemia without increasing painful vaso-occlusive crises (VOCs) in a broad population of SCD patients. To demonstrate clinical benefit, the company has proposed multiple confirmatory studies designed for focused subgroups of patients with the goal of showing preservation of organ function. We believe management has presented a strong argument for subpart H approval. Reiterate Outperform rating, $74 PT.”

Jefferies is raising their price target on Neurocrine BioSciences (NBIX) to $124 this morning from $105 previously. Elagolix for the treatment of women with moderate-to-severe pain related to endometriosis by the FDA last week. This compound is licensed to AbbVie (ABBV) and Jefferies projects Neurocrine will see significant royalties from this compound and is modeling some $3 billion in peak sales for elagolix which will go by the brand name Orilissa.

ImmunoGen (IMGN) gets reiterated as a Buy this morning at H.C. Wainwright. Its analyst calls the company his best idea in the space and has an $18 price target on this small cap concern. Here is a synopsis of why he is so bullish on IMGN which trades just under $10.00 a share.

"ImmunoGen's mirvetuximab soravtansine, or IMGN853, "continues to chug along, almost unnoticed, especially at current levels." ImmunoGen remains well positioned to "significantly expand" its commercial positioning with multiple pivotal programs positioned to move IMGN853 into earlier lines of therapy.We await the topline readout from the Forward I program during the first half of 2018 and notes that additional data from IMGN853 in combination with Keytruda are expected during the second half of 2018. "

Finally, ADMA Biologics (ADMA) gets assigned a new Buy rating and $10 price target at Chardan Capital this morning. Last week, after a year-long saga... the FDA announced it had accepted for review ADMA's Biological License Application amendment seeking approval to relaunch its candidate BIVIGAM (intravenous immune globulin [human], 10%). The agency's action date is October 25th. Oppenheimer and Maxim Group also initiated the shares with new Buy ratings late last week.

And those are four small cap concerns seeing recent analyst activity before the market opens this Monday. Happy Hunting.

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Hot Analyst Reads