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Astex Pharmaceuticals, AŞ Message Board

  • lee.grayling lee.grayling Jul 10, 2013 7:58 PM Flag

    JMP Securities maintains market outperform July 8

    Michael G. King Jr., JMP Securities, ranked first in 2013 among all stock pickers in the Pharmaceuticals category in the annual “Best on the Street” analyst survey conducted by The Wall Street Journal. He reiterated his outperform rating, July 8th.

    Michael King, JMP Securities (7/8/13) "Astex Pharmaceuticals Inc. announced this morning its plans to submit an investigational new drug application to the FDA for ASTX727, a novel, oral hypomethylating agent (HMA), by Q4/13; maintaining Market Outperform rating. . .we regard today's announcement as an important development in the life-cycle management of Astex's HMA franchise."

    Michael King, JMP Securities (5/21/13) "Updates to SGI-110 phase 1 activity and duration of response in myelodysplastic syndromes patients were detailed in Astex Pharmaceuticals Inc.'s abstract release ahead of the 18th Congress of the European Hematology Association. . .we are maintaining a Market Outperform rating. . .overall, our outlook on SGI-110 remains positive. . .the drug holds a strong likelihood of success in the ongoing phase 2 study."

    Jason Zhang, Edison Investment Research (5/7/13) "A more than 70% appreciation in the share price over the past two months suggests the market is recognizing the potential value in Astex Pharmaceuticals Inc.'s internal pipeline, particularly SGI-110. . .we consider there to be an attractive investment case with multiple upside catalysts. . .we value Astex at $678M, equivalent to $7.25/share. . .SGI-110, a second-generation hypomethylating agent (HMA), is now the clear focus of investor interest—the drug has a proven mechanism of action and potential advantages over first-generation HMAs. . .we see significant potential value increases as SGI-110 and AT13387 advance into later stages of development in the next 12-18 months."

    Sentiment: Strong Buy

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