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Top Presentations to Look for at ASCO

Chris Lange

It almost the end of May, and that means one thing for biotech investors. The king of biotech and pharma events is about to take place. The 2017 annual meeting of the American Society of Clinical Oncology (ASCO) is set to run from June 2 to June 6 in Chicago. This conference has the potential to make or break companies, with winners walking away from this event with a nice gain and losers trying to pick up the pieces.

The abstracts for ASCO were released about a week ago, and stocks are already moving in anticipation. Many more companies have yet to release their presentation information for ASCO as well.

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24/7 Wall St. wanted to make a brief list of companies that have already signaled that they will be presenting data, or that data will be presented on their behalf, at the 2017 ASCO annual meeting.

Pfizer Inc. (PFE) is expected to present incremental new insights on Ibrance and talazoparib. At the same time, data for dacomitinib in first-line EGFR+NSCLC remains under embargo until June 5. Credit Suisse has an Outperform rating for the shares with a $38 price target. The stock closed Friday at $32.14 a share, with a consensus analyst price target of $37.53 and a 52-week trading range of $29.83 to $37.39.

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Merck & Co. Inc. (MRK) is reporting more data on executing on I-O/chemo, and an update on the progress with Keytruda+IDO. Credit Suisse has an Outperform rating with a $72 price target. Shares closed the week at $64.92, with a 52-week range of $55.10 to $66.80 and a consensus price target of $69.30.

AbbVie Inc. (ABBV) focused on ABT-414 in its abstract, and according to analysts early data looks promising, but they are curious for the update that concerns side effects. Credit Suisse has a Neutral rating with a $65 price target. Shares of AbbVie ended the week at $66.06, with a consensus price target of $72.28 and a 52-week range of $55.06 to $68.12.

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Eli Lilly and Co. (LLY) will be presenting further details on abemaciclib with the MONARCH-2 data in abstract 1000. This study looked at abemaciclib in combination with fulvestrant in patients with HR+/HER2- advanced breast cancer who had progressed on prior endocrine therapy. Credit Suisse has an Outperform rating for Eli Lilly, with an $87 price target. Shares were last seen at $78.05, with a consensus price target of $89.10 and a 52-week range of $64.18 to $86.72.

BlueBird Bio Inc. (BLUE) will present updated data from its Phase 1 study of bb2121. Shares of BlueBird last traded at $78.70, with a consensus price target of $98.17 and a 52-week range of $36.62 to $100.40.

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Epizyme Inc. (EPZM) is presenting updated data at ASCO from its Phase 2 trial of tazemetostat in INI-1 negative solid tumors. Shares of Epizyme closed Friday at $15.60, with a consensus price target of $24.38 and a 52-week range of $7.02 to $18.50.

Juno Therapeutics Inc. (JUNO) will report an update from its Transcend study of JCAR017. Shares of Juno closed at $23.30. The 52-week range is $17.52 to $49.72, and the consensus price target is $30.50.

Kite Pharma Inc. (KITE) is presenting an update from its Zuma-3 study, as well as additional data from the ZUMA-1 study. Its shares closed at $73.11, with a consensus price target of $84.92 and a 52-week range of $39.82 to $88.58.

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Merus B.V. (MRUS) will report the full dataset from the Phase 1 study of HER2 × HER3 MCLA-128. Shares of Merus closed the week at $19.17, within a 52-week range of $7.26 to $33.63. The consensus price target is $31.23.

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