Analyst Mr. Riceen also put an $28 price target on SGEN. He predicted that the company will increase its earnings per share at an annual rate of 7 to 14 percent, slightly below the 15 percent he previously forecasted.
He also wrote last week it would finish at $23.12. He was off a penny. In today's letter he said SGEN will close Monday at $23.45. Being 87% right there are no guarantee's, but this guy is a Guru.
NKTR got some very good news for their OIC candidate NKTR-118 yesterday. The drug Relistor was supposed to be formidible near term competition. Yesterday, SLXP admitted that they completely botched the Phase III long term safety study for Relistor, and they show no interest in performing one. The FDA won't approve Relistor for chronic indications without it. This leaves Relistor dead as a doornail.
Just thought I'd bump this, hope that's ok. SGEN seems to have one of the few bioteach boards not populated by lunatics with a lot of good analysis. Has anyone added new stuff to their portfolio? I just got in CLSN the other day after it dropped 8-9% or so.
I love ZIOP. I think its still somewhat overlooked by the majority of biotech investors. They have a great CEO and did a partnership with Randall Kirk's(Forbes calls him the most successful biotech investor of all time) privately held Intrexon. He is now a major shareholder of ZIOP and has brought Fidelity and the Baker Bros into the company as large shareholders. In fact during the last secondary(this Jan)the raise was done at a higher price than the stock had traded in months(signals strong interest). There is currently lots of speculation of a partnership involving the lead compound which has completed one phase 3 trial(results expected by year end)for soft tissue sarcoma and just starting a pivotal phase 3 for small cell lung cancer. Also major news is expected for the lead Interexon/ZIOP compound in the 2H '12. Lots of catalyst for the next 6 months. Not much risk near term.
More about NKTR (AFFY too).
AFFY on a big run because of Omontys deal with Fresenius. Omontys is to Epogen what Neulasta was to Neupogen. Both Omontys and Neulasta are based on NKTR peg technology.
NKTR-228 is a pegged calcimimetic that I'm hoping will get an IND later this year. The main calcimimetic on the market, Sensipar, has all kinds of problems. It is oral (a plus), but needs to be taken daily and causes all kinds of digestive problems. NKTR-228 could be administered during dialysis. Something to keep an eye on.