Canaccord Genuity Q3 Biotech Results Preview
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Price: $124.70 --0%
Rating Summary:
9 Buy, 12 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
Rating Summary:
9 Buy, 12 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 13
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Canaccord Genuity Q3 Biotech Results Preview by George Farmer
Onyx Pharmaceuticals (Nasdaq: ONXX): Our BUY rating reflects our view of underappreciated value of the Nexavar franchise and potential blockbuster potential of lead clinical development candidate, carfilzomib, for treatment of multiple myeloma.
Seattle Genetics (Nasdaq: SGEN): Our SELL rating reflects our view of high disconnect between stock valuation and sales potential of Adcetris as treatment for end-stage Hodgkin’s lymphoma and systemic anaplastic large cell lymphoma. If a prevalence r/r HL patient pool exists as management has indicated, we expect implied strong sales to dissipate after Q4/11.
Optimer Pharmaceuticals (Nasdaq: OPTR): Our BUY rating reflects our view of high potential for DIFICID as an important option for treatment of C. diff. associated diarrhea. Stable Vancocin script trends imply Dificid use primarily in second-line treatment settings.
Dendreon (Nasdaq: DNDN): Our BUY rating reflects our view of clinical utility for Provenge in its labeled prostate cancer indication and surmountable reimbursement hurdles.
Vertex Pharmaceuticals (Nasdaq: VRTX): Our HOLD rating reflects our expectations for long-term Incivek success, threatened by outyear competition from other HCV drug classes. We temper our enthusiasm a bit from last month after neglecting to account for Incivek inventory stocking. Nevertheless, we see high expectations for a beat based on institutional investor interaction.
Celgene (Nasdaq: CELG): Our HOLD rating reflects overhang on FDA review of safety risks for flagship multiple myeloma drug Revlimid and a high trading multiple relative to peers.
Allos Pharmaceuticals (Nasdaq: ALTH): Our HOLD rating reflects our view of weak growth potential for Folotyn in peripheral T-cell lymphoma and thinning company attractiveness as acquisition target.
Onyx Pharmaceuticals (Nasdaq: ONXX): Our BUY rating reflects our view of underappreciated value of the Nexavar franchise and potential blockbuster potential of lead clinical development candidate, carfilzomib, for treatment of multiple myeloma.
Seattle Genetics (Nasdaq: SGEN): Our SELL rating reflects our view of high disconnect between stock valuation and sales potential of Adcetris as treatment for end-stage Hodgkin’s lymphoma and systemic anaplastic large cell lymphoma. If a prevalence r/r HL patient pool exists as management has indicated, we expect implied strong sales to dissipate after Q4/11.
Optimer Pharmaceuticals (Nasdaq: OPTR): Our BUY rating reflects our view of high potential for DIFICID as an important option for treatment of C. diff. associated diarrhea. Stable Vancocin script trends imply Dificid use primarily in second-line treatment settings.
Dendreon (Nasdaq: DNDN): Our BUY rating reflects our view of clinical utility for Provenge in its labeled prostate cancer indication and surmountable reimbursement hurdles.
Vertex Pharmaceuticals (Nasdaq: VRTX): Our HOLD rating reflects our expectations for long-term Incivek success, threatened by outyear competition from other HCV drug classes. We temper our enthusiasm a bit from last month after neglecting to account for Incivek inventory stocking. Nevertheless, we see high expectations for a beat based on institutional investor interaction.
Celgene (Nasdaq: CELG): Our HOLD rating reflects overhang on FDA review of safety risks for flagship multiple myeloma drug Revlimid and a high trading multiple relative to peers.
Allos Pharmaceuticals (Nasdaq: ALTH): Our HOLD rating reflects our view of weak growth potential for Folotyn in peripheral T-cell lymphoma and thinning company attractiveness as acquisition target.
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