4 Hot Analyst Morning Reads For Wednesday, September 19th

A synopsis of recent analyst activity that could buoy these small cap biotech stocks in trading today

Silence iswatch item only frightening to people who are compulsively verbalizing.” ― William S. Burroughs, The Job: Interviews with William S. Burroughs

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The biotech sector rose just over one percent in trading on Tuesday within an overall market rally. Biotech will see if it can make it two in a row when trading commences this Wednesday. Before the bell, here are four small cap concerns garnering positive analyst commentary this morning.

ProQR (PRQR) is initiated as a new Outperform with a $35 price target at Evercore ISI this morning. Evercore's analyst 'believes the company's recent clinical data for QR-110 for treatment of LCA-10 has transformed the outlook for the company, helping to "establish proof of concept for the lead program, it also helps de-risk the company's broader platform'

After no analyst activity for many months, Viking Therapeutics (VKTX) has seen five analyst firms reissued Buy or Outperform ratings on the stock since the company delivered impressive mid-stage trial results against NASH yesterday. Price targets proffered have ranged from $24 to $28 a share. Here is the color from Roth Capital which raised its price target to $24 this morning from $13 prior to trial results

"Key takeaways from the data release include that VK2809 achieved statistical significance versus placebo for both LDL reduction and liver fat reduction, the data was competitive with other compounds, and the next step is likely an FDA meeting in early 2019."

The stock of Viking was a big winner in trading Tuesday, rising more than 85% yesterday. We told you Viking deserved a 'watch item' position last October from our Busted IPO Forum handle when the stock trading at just $2.50 a share.

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Leerink Partners is reissuing their Outperform rating and $45 price target on Cardiovascular Systems (CSII) after meeting with management recently. Here is the synopsis of that call this morning.

'The meetings reinforced the analyst's view that the company represents a sustainable double-digit growth story for the next few years. She continues to believe Cardiovascular Systems has a "significant" competitive advantage in both calcified and below-the-knee lesions within Peripheral that should drive above-market growth. The shares are poised to move "meaningfully higher" as management drives back toward a sustainable mid-teens sales growth range'

After speaking with a physician in the space, an analyst at Cantor Fitzgerald is reiterating his Overweight rating and $150 price target on Neurocrine Biosciences (NBIX) before the bell today. Here were his takeaways from that discussion.

'The physician noted that current approved treatments in Tourette's Syndrome, haloperidol, pimozide, and aripiprazole come with "many unwanted side effects that clearly overshadow any efficacy benefits," Duncan tells investors in a research note. The doctor he spoke to almost never uses these drugs in his pediatric Tourette's Syndrome patients, instead preferring off-label medications. The analyst says he now has increased conviction in not only the probability of Neurocrine's TForce Gold trial success, but also in the market opportunity for valbenazine in Tourette's Syndrome'

And those are four small cap biotech and medical device stocks garnering positive analyst commentary this Wednesday. Happy Hunting.

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