Needham & Company Reiterates a 'Buy' on Pharmacyclics (PCYC); Ibrutinib Continues to Demonstrate Impressive Efficacy/Safety
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Price: $85.61 +0.01%
Rating Summary:
8 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
8 Buy, 9 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade PCYC Now!
Needham & Company reiterates a 'Buy' on Pharmacyclics (NASDAQ: PCYC) price target of $34.00.
Analyst, Alan Carr, said, "Additional data from ongoing single agent and combination ibrutinib clinical trials were presented at the ASCO meeting. The company hosted a meeting with analysts/investors yesterday. Consistent with abstracts released last month, new data presented at the meeting indicate ibrutinib appears to have impressive efficacy and safety in treatment-naïve elderly CLL patients. The observed 81% ORR and relatively clean safety profile matches up well against available regimens in this frail (and sizeable) CLL population. We believe Pharmacyclics may initiate a single-agent Phase 3 ibrutinib trial in front-line elderly CLL by YE12. We reiterate our rating, noting substantial commercial potential for ibrutinib as both a front-line and r/r agent in B-cell malignancies."
For an analyst ratings summary and ratings history on Pharmacyclics click here. For more ratings news on Pharmacyclics click here.
Shares of Pharmacyclics closed at $32.38 yesterday, with a 52 week range of $6.90-$33.24.
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Analyst, Alan Carr, said, "Additional data from ongoing single agent and combination ibrutinib clinical trials were presented at the ASCO meeting. The company hosted a meeting with analysts/investors yesterday. Consistent with abstracts released last month, new data presented at the meeting indicate ibrutinib appears to have impressive efficacy and safety in treatment-naïve elderly CLL patients. The observed 81% ORR and relatively clean safety profile matches up well against available regimens in this frail (and sizeable) CLL population. We believe Pharmacyclics may initiate a single-agent Phase 3 ibrutinib trial in front-line elderly CLL by YE12. We reiterate our rating, noting substantial commercial potential for ibrutinib as both a front-line and r/r agent in B-cell malignancies."
For an analyst ratings summary and ratings history on Pharmacyclics click here. For more ratings news on Pharmacyclics click here.
Shares of Pharmacyclics closed at $32.38 yesterday, with a 52 week range of $6.90-$33.24.
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