Wedbush Reiterates an 'Outperform' on Pharmacyclics (PCYC); Expect Ibrutinib to Dominate CLL Treatment
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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!
Wedbush reiterates an 'Outperform' on Pharmacyclics (NASDAQ: PCYC) price target of $93.00 (from $55.00).
Analyst, Gregory R. Wade, said, "We are increasing our price target to $93/share based on ibrutinib’s potential to become the backbone of treatment for chronic lymphocytic leukemia (CLL)...Importantly, the change from an “incidence-based” model for oncology drugs to a “prevalence-based” model is associated with large increases in
market opportunities, as we have seen with Gleevec ($4.7B in 2011 sales in chronic myelogenous leukemia, CML)."
"Furthermore, while we have updated our estimates to reflect the likelihood of longer-term treatment of CLL patients, we note that our model does not include significant numbers (~50% of diagnoses) of "watchful waiting" patients."
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 $65.90 yesterday, with a 52 week range of $10.59-$70.48.
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Analyst, Gregory R. Wade, said, "We are increasing our price target to $93/share based on ibrutinib’s potential to become the backbone of treatment for chronic lymphocytic leukemia (CLL)...Importantly, the change from an “incidence-based” model for oncology drugs to a “prevalence-based” model is associated with large increases in
market opportunities, as we have seen with Gleevec ($4.7B in 2011 sales in chronic myelogenous leukemia, CML)."
"Furthermore, while we have updated our estimates to reflect the likelihood of longer-term treatment of CLL patients, we note that our model does not include significant numbers (~50% of diagnoses) of "watchful waiting" patients."
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 $65.90 yesterday, with a 52 week range of $10.59-$70.48.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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