Canaccord Genuity on Specialty Pharmaceuticals: Top Catalyst-Driven Stocks with Potential for Upside by Year-End
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Up: 11 | Down: 35 | New: 23
Rating Summary:
6 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
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Canaccord Genuity on Life Sciences -- Specialty Pharmaceuticals: Top catalyst-driven stocks with potential for upside by year-end by Randall Stanicky
Stanicky said, "With earnings largely past us we’ve taken a look across our specialty and biotech coverage comprising close to 50 stocks. We highlight top catalyst-driven ideas into year-end with a focus on three we think will drive most upside. Our ideas span equity caps from $200M to $38B with catalysts ranging from clinical events, to guidance and potential event triggering take-out. Bottom line: buy TEVA, INHX and RPTP as top three ideas with Medicis (NYSE: MRX), Onyx (Nasdaq: ONXX), Aegerion (Nasdaq: AEGR) and Amicus (Nasdaq: FOLD) as other nearterm catalyst driven ideas."
Top three catalyst driven BUY ideas:
1) Teva (Nasdaq: TEVA) (BUY, $52 PT): We would be buyers into the 2012 guidance update in December which will come with lowered expectations and potential for capital allocation announcement. Generic Lipitor opportunity remains unclear but still real.
2) Inhibitex (Nasdaq: INHX) (BUY, $15 PT): We remain buyers ahead of top-line data from a seven-day Phase I trial cohort treated with a 100 mg QD dose of lead HCV nucleotide prodrug, INX-189, plus standard-of-care ribavirin.
3) Raptor (Nasdaq: RPTR) (BUY, $11 PT): Look for six--month tolerability data for lead drug RP103 (DR cysteamine) due ~December to support premium ium orphan pricing. Top-line data was released in June, but six-month tolerability data will be a key in securing RP103 premium orphan pricing, the linchpin of our thesis.
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Stanicky said, "With earnings largely past us we’ve taken a look across our specialty and biotech coverage comprising close to 50 stocks. We highlight top catalyst-driven ideas into year-end with a focus on three we think will drive most upside. Our ideas span equity caps from $200M to $38B with catalysts ranging from clinical events, to guidance and potential event triggering take-out. Bottom line: buy TEVA, INHX and RPTP as top three ideas with Medicis (NYSE: MRX), Onyx (Nasdaq: ONXX), Aegerion (Nasdaq: AEGR) and Amicus (Nasdaq: FOLD) as other nearterm catalyst driven ideas."
Top three catalyst driven BUY ideas:
1) Teva (Nasdaq: TEVA) (BUY, $52 PT): We would be buyers into the 2012 guidance update in December which will come with lowered expectations and potential for capital allocation announcement. Generic Lipitor opportunity remains unclear but still real.
2) Inhibitex (Nasdaq: INHX) (BUY, $15 PT): We remain buyers ahead of top-line data from a seven-day Phase I trial cohort treated with a 100 mg QD dose of lead HCV nucleotide prodrug, INX-189, plus standard-of-care ribavirin.
3) Raptor (Nasdaq: RPTR) (BUY, $11 PT): Look for six--month tolerability data for lead drug RP103 (DR cysteamine) due ~December to support premium ium orphan pricing. Top-line data was released in June, but six-month tolerability data will be a key in securing RP103 premium orphan pricing, the linchpin of our thesis.
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