The Zacks Analyst Blog Highlights: InterMune, Kite Pharma, Amicus, Celgene and Bristol-Myers Squibb

Zacks

For Immediate Release
 
Chicago, IL – August 28, 2014 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the InterMune (ITMN-Free Report), Kite Pharma (KITE-Free Report), Amicus (FOLD-Free Report), Celgene (CELG-Free Report)  and Bristol-Myers Squibb (BMY-Free Report).
 
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Here are highlights from Wednesday’s Analyst Blog:

Biotech Stock Roundup
 
The biotech sector had a strong run last week thanks mostly to Roche’s agreement to acquire InterMune (ITMN-Free Report) for a hefty $8.3 billion. The announcement of this deal resulted in a spike in the share price of quite a few mid-cap biotech companies that are considered to be lucrative acquisition targets.
 
Recap of the Week’s Most Important Stories
 
1. The week’s most important news was the $8.3 billion agreement announced by Roche for the acquisition of InterMune (read more: Roche to Boost Respiratory Product Lineup with InterMune Buy). This deal has raised hopes for several other mid-cap biotech companies which have some lucrative candidates in their pipeline. Smaller biotechs have recently touched 52-week highs, some of which may be considered attractive takeover targets. With the biotech sector witnessing a lot of M&A activity so far this year, expectations are high that more such deals will follow (Read more: 3 Biotechs Surging Following InterMune Takeover).
 
2. Kite Pharma’s (KITE-Free Report) shares shot up 17.7% on positive data from a non-Hodgkin's lymphoma study on KTE-C19. The data looks good though Kite is still several years from bringing this product to market. The data was from a phase I-IIa study and Kite intends to file an investigation new drug application later this year for a phase I-II single-arm multicenter study. This study will commence in the first half of 2015 (read more: Kite Pharma Drug Fares Well in Non-Hodgkin's Lymphoma Study).
 
3. Amicus’ (FOLD-Free Report) shares jumped 20.4% with the company reporting positive data on its experimental Fabry disease treatment, migalastat. Although treatments for this rare inherited disease are already available, migalastat’s oral dosing regimen could prove to be a more convenient treatment option for patients.
 
4. Immuno-oncology continues to be a target area. Celgene (CELG-Free Report) is collaborating with Bristol-Myers Squibb (BMY-Free Report) for the evaluation of a combination treatment comprising Bristol-Myers’ investigational PD-1 immune checkpoint inhibitor, Opdivo (nivolumab), and Celgene’s nab technology-based chemotherapy Abraxane. The combination will be studied for different types of cancer (read more: Bristol-Myers, Celgene Pair Up for Oncology Combo Treatments).

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Read the analyst report on CELG

Read the analyst report on BMY


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