“Lies don't end relationships the truth does.” ― Shannon L. Alder
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It was a mixed market to start a new trading week on Monday. The Dow, S&P 500 and Russell 2000 had slight rises, while the NASDAQ posted a small loss as did the high beta biotech sector.
There is a dearth of new analyst coverage on small and mid-cap biotech names so far this morning, but here are two small cap stocks seeing notable analyst commentary just before we open a new trading week this Tuesday.
BMO Capital reissues its Buy rating and $14 price target on scPharmaceuticals (SCPH) this morning. Here is the synopsis of that analyst call.
"investors' focus remains on the company working through the FDA complete response letter for its Furoscix drug. Management intends to address the issues raised by the FDA with its September 24th update, adding that after a 1-2 year delay, and our expectations is the drug will reach the market."
H.C. Wainwright reiterates its Buy rating and $7 price target on HTM Molecular Diagnostics (HTGM) before the bell today with the following commentary.
"We note that the company entered into the first amendment earlier this month, which involves performing collaborative development services for what is expected to be a multi-stage project that leads to a potential NGS-based companion diagnostic assay in support of the therapeutic programs at Bristol-Myers Squibb Co. HTG currently has two development programs ongoing in the statement of work under the master agreement with QIAGEN. The amendments allow the use of IUO assays in subsequent prospective and retrospective clinical trials for multiple indications, which are the next steps in the company’s immuno-oncology (I/O) collaboration. In our view, HTG now has more shots on goal, represented by the potential commercialization of companion diagnostics for therapeutics being developed by biopharma partners.”
And those are two small cap concerns seeing recent analyst activity before the market opens this Tuesday. Happy Hunting.
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