Two Notable Analyst Calls For Thursday Afternoon, July 12th

Bret Jensen

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Here are two analyst calls this afternoon which could buoy these small cap biotech names into the close and into tomorrow's market open.

Mizuho Securities hikes its price target on Zogenix (ZGNX) all the way up to $69 from $51 previously this afternoon while maintaining their Buy rating on the stock. Zogenix released positive data this morning from its second Phase 3 trial for its compound against a rare and severe form of epilepsy called Dravet syndrome. The stock is up some 20% in trading so far this Thursday on that news. Mizuho's analyst believes this increases the chances of success against this indication to '100%'. The company should submit for marketing approval in both the United States and Europe before the year is out. We gave a speculative 'thumbs up' to this small cap 'Busted IPO' in April of 2015 when it traded at under $2.00 a share. Suffice it to say, it was one of our better calls in the past decade and analysts still believe it has some upside left.

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Cantor Fitzgerald reissues their Overweight rating and $235 price target on GW Pharma (GWPH) this afternoon. This follows Buy ratings from Merrill Lynch and Goldman Sachs last month. The company's compound Epidiolex became the first US-approved cannabinoid late in June and is projected to do north of $1 billion in sales by 2022. Here is what Cantor's analyst had to say about the GW Pharma and their positive view on the company and stock which currently trades right around $150 a share.

"We rate GWPH Overweight. GWPH develops a series of cannabis plant-derived drugs for the treatment of diseases. The company reported outstanding pivotal results with its lead drug, Epidiolex, for treating refractory seizures. Valuation Summary Our price target of $235/ADS is based on our estimate of the sum of the risk-adjusted NPV for Epidiolex, the company’s drug portfolio, and cash.”

The stock is up some three percent today as we head into the final hour of trading this Thursday.

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