|Bid||23.00 x 800|
|Ask||25.76 x 1400|
|Day's Range||24.21 - 27.67|
|52 Week Range||9.88 - 27.97|
|Beta (5Y Monthly)||1.21|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech Stocks Hitting 52-week highs on Feb. 6) Acceleron Pharma Inc (NASDAQ: XLRN ) Alector Inc (NASDAQ: ...
Biotech stocks require only a few select indicators to send a share price soaring, or conversely, to cause it to tumble mercilessly down the charts. An FDA decision or results from a clinical trial have the ability to impact the stock’s direction either way, often dramatically so.On the Street, though, the key is to see beyond the noise and recognize the inherent future potential a company presents. Ignore the price for the moment and concentrate on value, is an oft repeated mantra. Is the company on its way to solving previously solution-free problems? Is it cash strapped or financially secure? Does it have further catalysts down the line? All of these are issues that need to be considered when investing in a stock, and certainly in the volatile world of biotechs.Using TipRanks’ Stock Screener, we were able to zero in on 3 promising tickers in the biotech sector which the analysts think are ready to gain value in 2020. All three present serious upside potential, and what’s more, all currently boast a “Strong Buy” consensus rating from the Street. Let’s read the data.Immunomedics (IMMU)If you’re going to take your time to get something right, then you might as well really take your time. After almost 40 years of failed attempts and languishing in a perpetual development stage, Immunomedics might finally be on its way to getting a treatment to market.This biotech develops monoclonal antibody-based products for the treatment of cancer. The aforementioned almost-ready-to-launch drug is sacituzumab govitecan, a treatment for metastatic triple-negative breast cancer (TNBC), which combines a cancer-targeting antibody with an antitumor drug. The treatment is to be used as a “final attempt” drug following the failure of two previous therapies.Immunomedics was handed the dreaded CRL (complete response letter) from the FDA following its application last year after concerns not specifically related to the drug, but to “chemistry, manufacturing, and control” issues at the company’s manufacturing plant were raised. The concerns were addressed by IMMU and an application was resubmitted last month.Hopes are high as results from the drug’s clinical trials were better than those exhibited for chemotherapy treatments in second-line settings; Sacituzumab exhibited a 33% success rate in the third-line setting and progression free survival was 5.5 months. Chemo regime rates are in the mid-teens in both cases. The drug is also being studied as a potential early line treatment, too, and if it gets approval this year, expect Immunomedics’ share price to soar in 2020.H.C. Wainwright’s Ram Selvaraju is bullish on the cancer fighter. The 5-star analyst said, "We continue to believe that sacituzumab should potentially reach the market in early 3Q20 given the following: (1) the FDA previously reviewed sacituzumab's efficacy and safety profile and Immunomedics had a product label in hand, while the approval was solely subject to chemistry, manufacturing, and controls (CMC) review; (2) the issue cited in the Complete Response Letter (CRL) received in January 2019 was specifically CMC-related; (3) sacituzumab's clinically meaningful incremental efficacy benefit in third-line mTNBC relative to well-established historical controls; and (4) Immunomedics has had extensive dialog with FDA reviewers prior to the previous BLA submission, during the review and after the CRL."Selvaraju, therefore, maintained his Buy rating on IMMU. The analyst’s confidence is reflected by a raise of his price target: from $26 to $31, as it happens. The new target implies potential upside of 63%. (To watch Selvaraju’s track record, click here)The Street appears equally confident in IMMU’s future potential; 4 Buy ratings add up to a Strong Buy consensus rating. With an average price target of $28, the analysts believe Immunomedics can add 47% to its share price over the coming year. (See Immunomedics stock analysis on TipRanks) Revance Therapeutics (RVNC)After a disappointing 2019, which saw Revance’s share price drop by more than 18%, the neuromodulator-focused biotech has started 2020 with a bang; Revance stock is up by 38% year-to-date.So, what’s all the fuss about, then? The biotech recently secured a licensing deal with Swiss company, Teoxane Laboratories, for the exclusive US rights to its platform of hyaluronic-acid dermal fillers. These include the FDA-approved RHA 2, RHA 3, and RHA 4. Revance will issue 2.5 million shares to Teoxane in exchange for the rights. Additionally, the company also received the rights to RHA 1, a fourth filler currently in clinical trials, with data expected in 2021.There’s more to come in 2020, too. Revance recently filed a Biologics License Application (BLA) for DAXI, a long-lasting formulation of a neurotoxin treatment of moderate to severe glabellar (frown) lines. Revance expects an FDA approval for the treatment in 2H20, following which DAXI could potentially provide serious competition to a market dominated by Allergan's Botox.Needham’s Serge Belanger believes RVNC’s product line has the potential to take a big chunk out of the $5 billion neuromodulator market. The 4-star analyst said, “We view RVNC's DaxibotulinumtoxinA (Daxi), which has consistently demonstrated higher efficacy and longer duration than any of the current neuromodulators, as the first major neurotoxin innovation in the last 30 years. The recent BLA filing of Daxi in late November kicked off what should be a transformational period for RVNC in 2020 that include a potential Mylan opt-in for a biosimilar collaboration, numerous data readouts, most notably the pivotal Phase 3 cervical dystonia (CD) trial readout that will establish the product's therapeutic potential, and a likely first FDA approval and launch in 2H20.”Where does this leave Belanger, then? In the Buy section, naturally. Along with the reiteration, Belanger kept his price target at $32. This implies potential gains of 42% over the next 12 months. (To watch Belanger’s track record, click here)The frown warrior gets no frowns from the Street, either. 8 Buys spell out a unanimous Strong Buy consensus rating for Revance. With an average price target of $32.88, the upside potential comes in at 46%. (See Revance stock analysis on TipRanks) Theravance Biopharma (TBPH)Theravance Biopharma has a diversified portfolio focusing on therapies in a number of areas; these include respiratory, gastrointestinal, cardiovascular, infectious, inflammatory, and immunology diseases. Although the company has hit its targets over the last couple of years, the stock’s performance has not followed accordingly. Is this about to change in 2020?Theravance already has an FDA approved drug on the market. Yupelri, a treatment for chronic obstructive pulmonary disease (COPD) that came as the result of a partnership with Mylan, gained approval from the FDA at the end of 2018. According to Theravance, throughout the first three quarters of 2019, roughly 21,000 patients received the drug.The company also has additional revenue streams. GlaxoSmithKline provides a royalty of between 5.5% to 8.5% for global net sales of Trelegy Ellipta. The COPD treatment is approved in 38 countries and has snapped up a 31% market share since September 2017. Theravance also sold its drug for life-threatening bacterial infections, Vibativ, to Cumberland Pharmaceuticals. The deal included a $20 million upfront payment plus royalties of up to 20% of U.S. net sales (capped at $100 million).With further drug candidates in the pipeline, Cantor Fitzgerald’s Louise Chen believes Theravance is “undervalued and underappreciated.” Highlighting the commercial launches of Trelegy Ellipta and Yupelri, its success in executing its business objectives in 2019, and the company’s “best-in-class” pipeline, the analyst thinks TBPH has “strong momentum” heading into 2020.Accordingly, then, Chen reiterated an Overweight rating on TBPH and kept her price target of $55 as is. Should the target be met, investors will be taking home a very healthy 118% increase over the coming months. (To watch Chen’s track record, click here)Currently, Theravance has a Strong Buy consensus rating from the Street. The breakdown presents 5 Buys and 1 Hold rating. At $36.67, the average price target presents possible upside of 45%. (See Theravance stock analysis on TipRanks)
It is a pleasure to report that the Revance Therapeutics, Inc. (NASDAQ:RVNC) is up 35% in the last quarter. But that...
We at Insider Monkey have gone over 752 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of September 30th. In this article, we look at what those funds think of Revance Therapeutics Inc (NASDAQ:RVNC) based on that […]
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks hitting 52-week highs on Dec. 3) Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY ) Antares ...
Biotech stocks experienced some momentum last week amid a few clinical readouts. Karuna Therapeutics Inc (NASDAQ: KRTX ), which went public in June, was among the biggest gainers of the week on a positive ...
For more risk-tolerant investors, biotechs are screaming buys. This space is consistently on the Street’s radar as a single catalyst such as a positive FDA advisory committee (AdCom) outcome or promising trial results can send shares through the roof. For example, Agile Therapeutics (AGRX) saw share prices skyrocket 223% in just one day after an FDA AdCom vote resulted in an approval recommendation for its Twirla contraceptive patch. However, the reverse also holds true meaning that biotech stocks carry their fair share of risk. So how are investors supposed to pick the biotech names most poised to outperform the market? We suggest looking to Wall Street analysts.While the consensus on a given stock can be resoundingly mixed, when all of the analysts covering the stock are onboard it’s a signal that can’t be ignored. With this in mind, we used the TipRanks Stock Screener to narrow down 3 biotechs that have garnered exclusively bullish calls over the last three months. Not to mention each of the stocks on our list boast huge upside potential from the current share price. Let’s get started. Intra-Cellular Therapies (ITCI)Intra-Cellular wants to help the millions of people living with mental health conditions around the world. With one and five people being affected by mental illness in the U.S. alone, the implications of the biotech’s unique treatments are nothing short of monumental.Its lead product candidate, lumateperone, was designed to provide selective and simultaneous modulation of three neurotransmitter pathways implicated in severe mental illness, namely serotonin, dopamine and glutamate. While the FDA had previously announced that it would hold an AdCom for the therapy’s use in treating schizophrenia, the panel was cancelled after ITCI submitted additional nonclinical data. This data suggests that the drug is metabolized differently in humans and animals, and thus any safety issues witnessed in animals have no bearing on its safety for human use.Ahead of the FDA’s approval decision scheduled for on or before December 27, Cantor Fitzgerald analyst Charles Duncan is impressed. He believes that ITCI’s “rapid” turnaround before the action date should work in the company’s favor. In addition, he views the FDA's decision to not hold a panel meeting as suggesting that the new drug application data package is “robust”. All of this lends itself to the five-star analyst’s conclusion that the second half of 2019 and early 2020 will be "transformational" for the biotech, prompting him to reiterate his Buy rating. With a $27 price target, the upside potential comes in at 181%. (To watch Duncan’s track record, click here) Like Duncan, the rest of the Street is bullish on ITCI. Based on the 6 Buy recommendations assigned in the last three months and 158% upside potential, it’s clear this ‘Strong Buy’ biotech has a lot to brag about. (See Intra-Cellular stock analysis on TipRanks) Moderna Inc. (MRNA)Moderna is revolutionizing the way we treat a wide variety of diseases through its use of messenger RNA (mRNA). mRNA is the set of instructions that cells use to make proteins and send them to different parts of the body. With a multitude of programs in development, one top analyst warns investors not to miss out on this unique opportunity. Roth Capital’s Yasmeen Rahimi argues that MRNA is well funded, and is thus capable of bringing its 16 clinical programs to their next turning points. Her conclusion is not only based on the company’s continued clinical and preclinical progress, but also recent positive developments.On October 22, MRNA announced that the FDA had given its investigational mRNA therapeutic for propionic acidemia (PA), mRNA-3927, Fast Track designation. PA is caused when the body is unable to break down proteins and fats, leading to the buildup of harmful chemicals. As there currently aren’t any therapies for the condition on the market, there is a desperate need for a treatment. It should also be noted that this designation bodes well for MRNA as it enables early and frequent communication with the FDA and a rolling submission of the marketing application. All of the above factors played into Rahimi’s decision to initiate her MRNA coverage with a bullish call. At her price target of $24, shares could climb 53% higher over the next twelve months. (To watch Rahimi’s track record, click here) As only Buy ratings have been issued in the last ten months, it’s no question that this biotech is a ‘Strong Buy’. Not to mention its $31 average price target puts the upside potential at 83%. (See Moderna stock analysis on TipRanks) Revance Therapeutics, Inc. (RVNC)Revance Therapeutics is using innovative techniques to develop a new category of neuromodulators for both aesthetic and therapeutic treatments. Neuromodulators include injectable and non-injectable therapies that can be used to treat an array of conditions like persistent pain, spasticity, movement disorders, epilepsy as well as several others. Following its third quarter earnings results, many analysts believe that RVNC is set to take off.On November 4, the company stated that it’s on track to submit its FDA Biologics License Application (BLA) for its lead candidate, DaxibotulinumtoxinA for Injection (DAXI), to treat glabellar lines later this month. Adding to the good news, RVNC completed enrollment for the ASPEN-1 Phase 3 clinical trial for DAXI to treat cervical dystonia (CD), a condition that causes painful neck spasms. While investors had some concerns regarding RVNC’s collaboration with Mylan (MYL), Needham analyst Serge Belanger tells investors that his bullish thesis remains firmly intact. “One concern for RVNC investors following the recent announcement of the proposed Mylan/Upjohn (Pfizer) tie-up involved the potential impact of the transaction on the ongoing collaboration with Mylan to develop a biosimilar Botox. RVNC issued an 8K this morning announcing an amendment to the collaboration that extends the clock on MYL's opt-in decision to 4/30/2020, in return for a $5 million payment. The additional time should allow MYL and Upjohn to conduct a portfolio review ahead of transaction close expected in mid-2020,” he explained. Along with his Buy rating, Belanger’s price target implies shares could jump 102% over the next twelve months. (To watch Belanger’s track record, click here) Similarly, the rest of the Street likes what it’s seeing. With 100% of analysts backing the biotech, RVNC is a ‘Strong Buy’. In addition, its $33 average price target suggests 111% upside from the current share price. (See Revance Therapeutics stock analysis on TipRanks)
Earlier this month, Revance Therapeutics Inc (NASDAQ: RVNC ) named Mark Foley as its new CEO. The addition of a commercial-focused CEO, with experience in unlocking shareholder value in aesthetics, is ...
The first quarter was a breeze as Powell pivoted, and China seemed eager to reach a deal with Trump. Both the S&P 500 and Russell 2000 delivered very strong gains as a result, with the Russell 2000, which is composed of smaller companies, outperforming the large-cap stocks slightly during the first quarter. Unfortunately sentiment shifted […]
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Dan Browne became the CEO of Revance Therapeutics, Inc. (NASDAQ:RVNC) in 2002. First, this article will compare CEO...
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Revance Therapeutics, Inc. (NASDAQ:RVNC) shareholders should be happy to see the share price up 16% in the last month...
AbbVie's (ABBV) stock suffers a poor run on the bourses due to pipeline setbacks, Humira sales erosion in EU and its proposed offer to buy Allergan.