4 Hot Analyst Reads For Tuesday, July 10th

Bret Jensen

I have always found that mercy bears richer fruits than strict justice.” ― Abraham Lincoln

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Here are four small cap stocks seeing notable analyst commentary just before we open trading today.

Merrill Lynch initiates Myokardia (MYOK) as a Buy with a $71 price target this morning. Merrill's analyst states the company 'has two clinical assets, mavacamten and MYK-491, that could become the first FDA therapies approved in hypertrophic and dilated cardiomyopathy and believes MyoKardia's investment by Sanofi in mavacamten as a de-risking event.'

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We gave a 'thumbs up' to this name as a 'watch item' stock worthy of a small investment within a well-diversified biotech portfolio in June of last year, two months before a huge rally. It has not disappointed and given a median analyst price target in the low $70s, analyst seem to agree it has some further upside if the company continues to execute.

Roth Capital lists small cap Kalvista Pharmaceuticals (KALV) as a new Buy this morning with a $20 price target. Roth 'expect shares to outperform following upcoming updates from the clinical programs in hereditary angioedema (HAE) and diabetic macular edema (DME).”

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This Boston based 'Tier 4' biotech concern is advancing a pipeline of novel, small molecule plasma kallikrein inhibitors through preclinical and clinical development and we have listed as another 'watch item' holding.

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William Blair initiatesRocket Pharmaceuticals (RCKT) as a new Buy with a $32 price target before the opening bell this morning. Blair's analyst had the following to say about the company within its rating overview

"Rocket Pharmaceuticals, Inc. We are initiating coverage of Outperform rating and $32 fair value estimate. Rocket is a multi-platform biotechnology company that is focused on developing irst-in-class gene thera pies for rare dis- eases. The company’s lead candidate, RP-L102, is an ex vivo lentiviral gene therapy being developed for the treatment of Fanconi anemia (FA), with three additional ex vivo lentivirus programs in earlier development for the treatment of leukocyte adhesion deiciency-I (LAD-I), pyruvate kinase deiciency (PKD) , and infantile malignant osteopetrosis (IMO). We also expect the company to disclose its in vivo adeno-associated virus (AAV) gene therapy indication by year end, as the company anticipates having up to four programs in the clinic (likely and data from two (likely FA, LAD-I) in 2019. "

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This NYC based biotech concern has a diverse but very early stage pipeline as can be seen above.

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Mizuho Securities reissues its Buy rating and $27 price target on Concert Pharmaceuticals (CNCE) this morning in front of upcoming trial results. Mizuho notes the company

"is expected to report top-line data from CTP-543 in patients with moderate-to-severe alopecia areata in Q4. The analyst expects the readout will be an important catalyst for Concert shares and remains confident in the potential of CTP-543. The company is well positioned relative to most alopecia areata competitors from a timeline perspective."

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

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Hot Analyst Reads