4 Hot Analyst Reads For Monday, July 30th

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

The three great essentials to achieve anything worthwhile are, first, hard work; second, stick-to-itiveness; third, common sense.” ― Thomas A. Edison

Sign Up Free Today: To comment on this article or to get and read these full articles free every day before the market open to your ‘in box’ as published, just hit the + Follow button in the upper right-hand corner of this site.

Small biotech stocks were shellacked last week as the market punished high beta parts of the market. We will hope to get off to a better start this Monday in this space. Here are four small biotech stocks garnering new analyst commentary as we prepare to open up a new trading week.

After visiting Global Blood Therapeutics (GBT) late last week, Oppenheimer reissues their Outperform rating and $74 price target before the bell. Here is Oppenheimer's current take on the company.

“Friday, we took the road to visit investors in San Francisco and discuss the company’s regulatory strategy for voxelotor. Global Blood is pursuing an accelerated (subpart H) approval in sickle cell disease (SCD) based on the robust hemoglobin (Hb) response seen in the company’s ongoing HOPE study. Accelerated approval could be granted based on the drug’s ability to mitigate SCD-related anemia without increasing painful vaso-occlusive crises (VOCs) in a broad population of SCD patients. To demonstrate clinical benefit, the company has proposed multiple confirmatory studies designed for focused subgroups of patients with the goal of showing preservation of organ function. We believe management has presented a strong argument for subpart H approval. Reiterate Outperform rating, $74 PT.”

Jefferies is raising their price target on Neurocrine BioSciences (NBIX) to $124 this morning from $105 previously. Elagolix for the treatment of women with moderate-to-severe pain related to endometriosis by the FDA last week. This compound is licensed to AbbVie (ABBV) and Jefferies projects Neurocrine will see significant royalties from this compound and is modeling some $3 billion in peak sales for elagolix which will go by the brand name Orilissa.

ImmunoGen (IMGN) gets reiterated as a Buy this morning at H.C. Wainwright. Its analyst calls the company his best idea in the space and has an $18 price target on this small cap concern. Here is a synopsis of why he is so bullish on IMGN which trades just under $10.00 a share.

"ImmunoGen's mirvetuximab soravtansine, or IMGN853, "continues to chug along, almost unnoticed, especially at current levels." ImmunoGen remains well positioned to "significantly expand" its commercial positioning with multiple pivotal programs positioned to move IMGN853 into earlier lines of therapy.We await the topline readout from the Forward I program during the first half of 2018 and notes that additional data from IMGN853 in combination with Keytruda are expected during the second half of 2018. "

Finally, ADMA Biologics (ADMA) gets assigned a new Buy rating and $10 price target at Chardan Capital this morning. Last week, after a year-long saga... the FDA announced it had accepted for review ADMA's Biological License Application amendment seeking approval to relaunch its candidate BIVIGAM (intravenous immune globulin [human], 10%). The agency's action date is October 25th. Oppenheimer and Maxim Group also initiated the shares with new Buy ratings late last week.

And those are four small cap concerns seeing recent analyst activity before the market opens this Monday. Happy Hunting.

New Free Report Available: My colleagues at Investors Alley have just published a free report entitled '10 Simple Rules To Trade Options Like A Pro' for those that want to learn more about profitably adding options strategies to their investing 'toolbox' including Buy-Writes on many of the small caps we cover in these pieces, it is now available free via download HERE.

Comments (3)
No. 1-3
cottonstocks
cottonstocks

Hi Bret:

GBT was up strong on Friday, August 3rd.....it has finally started moving...and we predict it will reach $75 within 6 months or sooner....

Best regards,

Cottonstocks

Bret Jensen
Bret Jensen

Editor

Hasn't changed since article on right after FDA decision. All high-beta parts of the market under pressure in past few weeks. FAANG in official correction territory. Russell 2000 Friday had worst one day sell-off in over a month and small biotech stocks getting hit hard across the board. It should be noted that this is in heart of the 'dog days' of summer and all of this is happening on very low volume on average. JMTC..

Timothy Blackbread
Timothy Blackbread

What's your take on AKAO, Bret? Still bullish?