“Be discerning with rumors on leaders, for most are birthed by the envy of the idle or the desperation of the defeated.” ― Orrin Woodward
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The market remains mixed and is trading in a very narrow range to begin the trading week this Monday. Biotech is very weak with the main biotech indices down some 1.5% on the day. Not a great start to the week for the sector.
However, here are two analyst calls this afternoon which could buoy these small cap biotech names into the close and into tomorrow's market open.
Novocure (NVCR) is initiated with an Outperform rating with a price target of $45 over at Evercore ISI. Evercore's analyst believes " Novocure is at an inflection point with the full data-set of mesothelioma expected in 2H 2018 and sees a potential big catalyst in 2019 with receipt of reimbursement from CMS' .
The company has a unique way to target cancer and is up some 7% in a down day for biotech today.
Northland Securities assigns a new Buy rating and $100 price target on Insulet Corporation (PODD) this afternoon. Here is their commentary regarding the medical device maker.
We believe that despite the noise surrounding the tslim x2 artificial pancreas pump and Medtronic’s 670G, Insulet should report a strong Q2 number. In addition, the 2nd half of FY18 brings in a go-direct strategy in Europe, allowing a recapture of the transfer margins to Ypsomed, and a step up in top line sales.”
The stock has been solid so far here in 2018. However, it is down some 15% from recent highs over the past few weeks.
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