I guess I was a little surprised to see coverage here when Cantor suggests it won't be until 2025 that revenue will come from ECYT's pipeline (I disagree it will take 10 yrs). WHY would they cover Endocyte now when the "sting" of May 2nd still remains? Anyway, here are the details from 10 days ago:
Cantor Fitzgerald initiated coverage on Endocyte (NASDAQ: ECYT) with a Buy rating and a price target of $21.00.
Analyst Daniel Brims said, "ECYT is a development-stage biotechnology company that specializes in discovery of small molecule drug conjugates for treatment of cancer. Our $21 PT is based primarily on the market opportunity for the company's asset, EC1456, in NSCLC, which we expect to generate worldwide sales of ~$1B in 2025. We see the potential for additional upside from a robust pipeline, which includes most prominently EC1719 for treatment of prostate cancer and EC1669, which targets inflammatory diseases."
I did not see this posted - from a week or so ago:
September 9, 2014
08:59 EDT CNAT Conatus should be bought ahead of data, says JMP Securities
After attending Conatus' investor meetings, JMP Securities thinks that Phase 2 trials the company is conducting are likely to have positive primary endpoint data. The firm recommends buying the stock ahead of the first data read-out, which is expected by the end of the year, according to the firm. It reiterates a $14 price target and Outperform rating on the shares.
Lazy or considered not critical to keep the "public" current on who or what is happening. Baral has been gone from Canaccord since late May (went to Cowen). Cowen initiated coverage on 9/5. THAT should be on the Insmed website (agree?). If all open positions have been filled (or canceled), at least the careers page is current. What is your take Blue?
While I was away I see Cowen initiated coverage at $20 on Sept 5th. Was this Ritu Baral? Other than that I guess I missed "nothing" as out PPS is almost .70 less than when I left.
Perhaps this slide (12) was more "meaningful"? We shall soon hear:
TARGET study met primary endpoint in NSCLC
•Pre-specified primary endpoint met (one sided p-value
Roth was the proclaimed "pound the table" financial institution for its ECYT PT (I think $45?) right before it got killed (May 2nd) and lost 61% in one day. Maybe they get this one right?? LOL - hope so
Left a SCAR (scare?). Terry how about that call on FOLD? OOPS you did not see that one coming?
I can't believe how a great 80+% recent upward movement (I came in at $3.85 awhile ago) brings these posters (with agendas) out of nowhere. We shouldn't get disappointed IF we get a 10% retracement before the next move up. But I won't be disappointed if it doesn't happen. Congrats to all the real long time holders here!!!
So, you can leave now. The presentation is a week away and the volume was somewhat light all day until the last "15 minutes". Anytime NASDAQ is down or trending down, this stock goes south (since May 2nd). It is near cash value (still). Hope you made a few bucks!!!
The $28 PT detail:
In a research report issued yesterday (8/26), Roth Capital analyst Joseph Pantginis reiterated a Buy rating on Concert Pharmaceuticals (NASDAQ:CNCE) with a price target of $28.00.
Pantginis wrote, “CNCE received a $2 million milestone payment from Avanir (AVNR-NC), which initiated a Phase II study of AVP-786 in patients with major depressive disorder (MDD). This is the second development milestone received under the licensing agreement for AVP-786. This 10-week randomized, double-blind, placebo controlled study is designed to reduce placebo effects and give relatively quick response as to the drug’s efficacy.”
IDIX shareholders also complained about Merck's offer of $3.85B. And that was after other bids were out there.
Concert Pharmaceuticals (CNCE) , a clinical stage biopharmaceutical company, discovers and develops small molecule drugs for central nervous system disorders, renal disease, inflammation and cancer. This stock closed up 5.6% to $9.29 in Tuesday's trading session.
Tuesday's Range: $8.80-$9.40
52-Week Range: $7.12-$16.26
Tuesday's Volume: 136,000
Three-Month Average Volume: 156,897
From a technical perspective, CNCE ripped sharply higher here right above some near-term support at $8.67 and back above its 50-day moving average of $8.92 with lighter-than-average volume. This strong move to the upside on Tuesday is starting to push shares of CNCE within range of triggering a near-term breakout trade. That trade will hit if CNCE manages to take out Tuesday's intraday high of $9.40 to some more near-term overhead resistance at $9.95 with high volume.
Traders should now look for long-biased trades in CNCE as long as it's trending above some key near-term support at $8.67 and then once it sustains a move or close above those breakout levels with volume that hits near or above 156,897 shares. If that breakout gets underway soon, then CNCE will set up to re-test or possibly take out its next major overhead resistance levels at $10.44 to $10.87. Any high-volume move above those levels will then give CNCE a chance to tag $12 to $13.
JAD ONLY bashes those (multiple IDs hmmmm) when needed! Historian is one of the collective "us" if I may add my ID to that list. By the way did TM (sorry) ever answer Biowatchdog's question????
Not "earth shattering":
Concert Pharmaceuticals, Inc. (CNCE) today announced that it has achieved a $2 million milestone under its development and license agreement with Avanir Pharmaceuticals, Inc. for the clinical progression of AVP-786. The milestone is a result of Avanir initiating dosing in a Phase 2 clinical trial with AVP-786 for the adjunctive treatment of major depressive disorder.
“We are very pleased by Avanir’s progress with AVP-786’s clinical development, resulting in a second development milestone to Concert from this program,” said Roger Tung, Ph.D., President and CEO of Concert Pharmaceuticals.
UBS analyst Andrew Peters and team look for other biotech companies that could be in play:
"While we had viewed InterMune as a top take-out candidate in biotech, we also note our Buy rating on Achillion Pharmaceuticals (ACHN) shares also reflects M&A potential. Further, the premium paid on shares and the likely competitive process underscores the relative scarcity of de-risked high quality assets, and we also highlight Puma Biotechnology (PBYI), Incyte (INCY), Insmed (INSM), and Medivation (MDVN) as potential targets among smid-cap names in our coverage universe."