|Bid||0.00 x 800|
|Ask||0.00 x 800|
|Day's Range||79.81 - 81.92|
|52 Week Range||62.88 - 100.13|
|Beta (5Y Monthly)||1.31|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 19, 2020 - Feb 24, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||115.35|
The Zacks Analyst Blog Highlights: uniQure, Sarepta Therapeutics, BioMarin Pharmaceutical and Sangamo Therapeutics
Companies with gene therapy capabilities are becoming more attractive to members of Big Pharma, who are eager to add the technology to their portfolios Continue reading...
Gene therapy continues to draw attention with the recent spate of deals and acquisitions. We list four stocks with promising candidates in their pipelines that make attractive acquisition targets.
(Bloomberg) -- Biotech’s second year of red-hot takeovers is set for a strong finish as Astellas Pharma Inc.’s move to buy Audentes Therapeutics Inc. for about $3 billion comes a week after Novartis AG’s $6.8 billion deal for Medicines Co.The deals continue a trend of mega mergers that was triggered in January with Bristol-Myers Squibb Co.’s $74 billion purchase of Celgene Corp. in the biggest ever biotech deal. The sector’s more than $130 billion in M&A so far this year is on track to meet or maybe surpass the previous year’s record, according data compiled by Bloomberg.“We clearly underestimated big pharma’s appetite for gene therapy,” wrote Citi analyst Mohit Bansal in a research note to clients. Given recent deals there appears “to be a demand for late-stage gene therapy companies, and big pharma is willing to pay high premium for such companies.”With the optimism, the Nasdaq Biotech Index rose 0.5% on Tuesday as the broader market churned. An equal-weighted ETF tracked by specialists, the SPDR S&P Biotech ETF (XBI), gained 1.3%.As investors hunt for the next takeout darling, several analysts across Wall Street have pitched companies with attractive technologies and manufacturing capabilities.UniQure NV, an Amsterdam-based gene therapy company, topped the list of recommendations with shares jumping more than 16%. In June, Bloomberg News had reported the drugmaker was said to be exploring its options, including a potential sale.“As a knee-jerk reaction, we would expect to see gene therapy companies trade up in sympathy tomorrow,” wrote SVB Leerink’s Joseph Schwartz.Schwartz highlighted UniQure as well as companies Solid Biosciences Inc., Sarepta Therapeutics Inc., and BioMarin Pharmaceutical Inc. as likely beneficiaries.Astellas’ lack of a gene therapy footprint should allow an easy approval from global regulators, according to analysts. That stands in contrast to Roche Holding AG’s delayed $4.8 billion deal to buy small-cap drug developer Spark THerapeutics Inc., which spooked some on Wall Street.However, SVB Leerink anlayst Mani Foroohar wrote that Monday’s deal announcement “could signal a return to gene therapy M&A” and return some “acquisition optionality” to stocks within his coverage.Here’s a look at what some on Wall Street are saying about the deals and which peers may benefit:Citi, Mohit Bansal“We think a company like BMRN in our coverage could fit the bill. BRMN has a filing-ready hemophilia A product.”“Overall, we expect gene therapy stocks to trade up on this deal.”SVB Leerink, Joseph Schwartz and Mani Foroohar“We remain positive on gene therapy companies -- particularly those with internal manufacturing capabilities -- and subsequent M&A activity in the gene therapy space would not be surprising to us.”“In particular, we expect QURE, SLDB, and SRPT to trade higher given the significant weight of gene therapy assets in these companies; the magnitude of upside moves for BMRN, FOLD, and RARE, may be less given the more diverse product/candidate mix in each of these respective companies.”“While gene therapy companies in our universe have differences vs BOLD in technology platforms (AVRO, BLUE and RCKT), business models (BBIO, RGNX) and target indication strategy (AXGT), we expect shares to react positively to this news across our gene therapy and gene editing (NTLA) coverage.”Piper, Christopher Raymond“We suspect – and for good reason – that gene therapy levered or gene therapy-focused stocks are likely to see a decent rally today and going forward. Among the Piper coverage universe, these names include ADVM, BBIO, BMRN, MGTX, RCKT, QURE, RARE and SRPT.”Raymond James, Steven Seedhouse“This is clearly just another bullish signal for genetic medicine.”“It may also signal ‘platform value’ is a real thing that shouldn’t be ignored in today’s market. In our coverage, we expect EDIT (Outperform), NTLA (Outperform), CRSP (Underperform) will benefit from the optics.”Wedbush, David Nierengarten“We admit to being surprised at the acquirer, but any buyer of Audentes was likely to be one interested in buying not only leading gene therapy candidates but also technical expertise and manufacturing capacity.”“Early this year acquisitions for gene therapy companies Nightstar and Spark Therapeutics by Biogen and Roche, respectively, increased M&A chatter in the sector, and with this latest buyout, we expect the sector to benefit.”To contact the reporter on this story: Bailey Lipschultz in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Steven Fromm, Jennifer Bissell-LinskFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Gene therapy company Audentes Therapeutics Inc (NASDAQ: BOLD ) announced a deal late Monday to be acquired by Japanese pharma company ASTELLAS PHARMA/ADR (OTC: ALPMY ) for $60 per share, representing a ...
Astellas Pharma is paying $60 a share in cash for a gene-therapy stock that closed at $28.61 on Monday.
The 700+ hedge funds and famous money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the third quarter, which unveil their equity positions as of September 30. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund portfolios. Our extensive […]
BioMarin (BMRN) submits an MAA in Europe for its investigational gene therapy valoctocogene roxaparvovec to treat adult patients with severe hemophilia A.
The company is in early stages of testing gene and cell therapies they hope will deliver 'transformative and curative' treatments Continue reading...
SAN RAFAEL, Calif., Nov. 21, 2019 /PRNewswire/ -- BioMarin Pharmaceutical Inc. (BMRN) announced today that the company submitted a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) for its investigational gene therapy, valoctocogene roxaparvovec, for adults with severe hemophilia A. Subject to completion of EMA's validation check, BioMarin anticipates the start of the MAA review to commence in January 2020 under accelerated assessment. BioMarin will provide an update in January 2020.
The world’s population is getting older, rapidly. According to the United Nations, the fastest-growing age group across the world is adults aged 65 and older, with it predicting one out of every six people will be 65 or older by 2050. This means that the age group will make up 16% of the world’s total population, 9% higher than it was in 2011, with this figure expected to be larger in North Africa and Europe.To this end, investors are looking for ways to capitalize on the growing opportunity within the healthcare space. In order to pinpoint the most compelling opportunities capable of delivering handsome returns through 2020 and beyond, we turned to the seasoned pros from investing firm Cowen & Co.Using TipRanks.com, we were able to get the full scoop on 3 healthcare stocks that the firm’s top rated analysts are picking. If it wasn’t enough that each has received enough Street Support over the last three months to achieve a “Strong Buy” consensus rating, all of the names boast impressive upside potential. We’re talking more than 45% here.BioMarin Pharmaceutical (BMRN) BioMarin is best known for developing innovative therapies to meet the needs of patients with orphan disease, a group of diseases that affects less than 200,000 people in the U.S. The group includes cystic fibrosis, Lou Gehrig's disease, Tourette's syndrome as well as several others.Even though shares have experienced some rockiness year-to-date, 5-star Cowen analyst Phil Nadeau reminds investors that BMRN has demonstrated portfolio-wide progress. Its Naglazyme drug remains the only treatment option for the 1,000 people with MPS-VI, an inherited life-threatening disease caused by a deficiency of the enzyme normally required for the breakdown of certain complex carbohydrates known as glycosaminoglycans (GAGs). According to the analyst’s forecasts, the drug could generate revenue of $470 million in 2024, up from $346 million in 2018.The biotech isn’t stopping there. During BMRN’s recent investor R&D day, the company announced that data from its extended Phase 2 trial of Vosoritide, its drug designed to treat Achondroplasia, a bone growth disorder, suggested positive results in terms of efficacy. As management pointed out that the results can most likely be replicated, it’s no wonder Nadeau is excited. “We are optimistic for success in the Phase 3 study and we think that should the Phase 2 profile be replicated, this would drive wide and rapid adoption,” he commented.With substantial steps forward for its hemophilia A treatment and its gene therapies for PKU and HAE, Nadeau concludes that BMRN is a Buy. Not to mention the analyst’s $150 price target indicates that shares could double in the next twelve months. (To watch Nadeau’s track record, click here)In general, the rest of the Street also likes what it’s seeing. 11 Buy ratings and 3 Holds assigned in the last three months amount to a ‘Strong Buy’ ranking. Additionally, the $109 average price target brings the upside potential to 40%. (See BioMarin stock analysis on TipRanks)SAGE Therapeutics (SAGE)SAGE wants to offer better treatment options for patients with neuropsychiatric disorders such as postpartum depression (PPD) and major depressive disorder (MDD). While results from its most recent quarter failed to impress, Cowen thinks that there’s plenty of room for growth here.Analyst Ritu Baral notes that during the third quarter, its Zulresso drug, which launched in Q2 with small revenues, demonstrated lackluster sales growth. The analyst believes that as sales are likely to maintain slow growth until the second half of 2020, investors should instead focus on the upcoming SAGE-217 Phase 3 readout for MDD in the fourth quarter.The results from its Phase 2 study were resoundingly positive, as they demonstrated significant levels of efficacy. This lends itself to Baral’s argument that SAGE-217 “provides significant blockbuster market potential”. “Topline data from the Ph3 MOUNTAIN trial evaluating SAGE-217 in MDD is expected to be a major catalyst for SAGE shares. Therefore, in our view, this could lead to about 30-40% upside for shares,” the Cowen analyst explained.Baral adds, “We believe SAGE has a strong CNS pipeline with several potentially value-creating shots on goal over the next few years.” Bearing this in mind, the five-star analyst reiterated the bullish call and $207 price target. This target conveys her confidence in SAGE’s ability to surge about 40% over the next twelve months. (To watch Baral’s track record, click here)Similarly, Wall Street takes a bullish approach when it comes to SAGE. With 7 Buys and 1 Hold, the consensus among analysts is that the biotech name is a ‘Strong Buy.’ Its $204 average price target implies 35% upside potential from today's closing price. (See SAGE stock analysis on TipRanks)NGM Biopharmaceuticals (NGM)Using its unique “in vivo” discovery approach to characterize relevant biological processes, NGM has been able to create novel compounds to fight diseases like non-alcoholic steatohepatitis (NASH). NASH is an inflammatory liver disease that can cause too much fat to accumulate in the liver.While the company posted a $10.9 million net loss in Q3, the outcome of its Phase 2a Cohort 4 study for lead candidate Aldafermin could drive a turnaround. Top-line data for the PBO-controlled biopsy to evaluate its ability to treat NASH are expected to be released in the first quarter of 2020.Ritu Baral, who also covers NGM, highlights the fact that “the compound has previously shown robust decreases in MRI-PDFF and demonstrated regression of fibrosis (the thickening and scarring of connective tissue) by 1 stage in 25% and 42% of patients treated with aldafermin 1mg and 3mg respectively at 12-weeks.”It also doesn’t hurt that the company’s pipeline includes candidates for oncology and ophthalmic conditions that are in earlier development, as well as its NGM313 humanized antibody in development for NASH and type 2 diabetes.All of this contributed to Baral’s decision to maintain her bullish thesis. “We believe NGM Bio’s precision biology pipeline has significant promise in multiple diseases with high unmet need,” she noted. Along with the Buy recommendation, the $25 price target puts the potential twelve-month gain at a whopping 70%.The rest of the Street appears to mirror Baral’s sentiment. With 4 Buys received in the last three months compared to no Holds or Sells, the message is clear: NGM is a ‘Strong Buy’. On top of this, shares could soar 61% in the next twelve months based on the $23.67 average price target. (See NGM stock analysis on TipRanks)
In his second "Executive Decision" segment of Mad Money Thursday night, Jim Cramer sat down with Jean-Jacques Bienaime, chairman and CEO of BioMarin Pharmaceuticals , the orphan drug maker that's seen its shares plunge from highs of $100 down to lows near $63 as biotechs have fallen out of favor on Wall Street. BioMarin updated investors at their annual investor conference, and Bienaime said they expect continued annual growth of 15%, just as they have for the past few years. BioMarin's seven products are on track to deliver $2 billion in revenues, Bienaime added, and they expect to file for FDA approval for their next drug before the end of 2019.
SAN RAFAEL, Calif., Nov. 14, 2019 /PRNewswire/ -- BioMarin Pharmaceutical Inc. (BMRN) updated the investment community on the Company's research and development portfolio, which is focused on innovative therapies to treat rare diseases. "BioMarin is at an inflection point where our combined understanding of the biology of many rare diseases and key technologies like gene therapy position us not only for exceptional growth over the next decade, but for GAAP profitability in 2020," said JJ Bienaimé, Chairman and CEO of BioMarin.
SAN RAFAEL, Calif., Nov. 14, 2019 /PRNewswire/ -- BioMarin Pharmaceutical Inc. (BMRN) provided an update on its clinical program for vosoritide, an analog of C-type Natriuretic Peptide (CNP), in children with achondroplasia, the most common form of disproportionate short stature in humans, at its annual R&D Day. An ongoing, open-label, dose finding Phase 2 study of vosoritide for achondroplasia demonstrated over 54 months that children in cohort 3 (N=10) of the study, at a dose of 15 µg/kg/day, achieved a statistically significant (p
SunTrust initiated most of the big names in biotech with a Buy, but it was less sunny on two of the biggest names in the sector: Gilead Sciences and Regeneron Pharmaceuticals.
In the daily bar chart of BMRN, below, we can see a significant percentage decline from February to October. The daily On-Balance-Volume (OBV) line shows a decline from April to early October, which is followed by a rise. A rising OBV line is part of the new story of strong prices supported by more aggressive buying.
SAN RAFAEL, Calif. , Nov. 12, 2019 /PRNewswire/ -- BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) today announced that Jean-Jacques Bienaimé, Chairman and Chief Executive Officer, will present at the Jefferies ...