Pharmacyclics jumps on ebullient Deutsche Bank initiation

|By:, SA News Editor

Shares of Pharmacyclics (PCYC +9.6%) pop after Deutsche Bank's Robyn Karnauskas initiates the company at Buy with a Street-high PT of $170, Notable Calls says.

Karnauskas believes Ibrutinib consensus expectations of $6.4B are too low, seeing sales of at least $9B on an excellent safety profile that has led patients to stay on the drug longer than previously expected.

The analyst calls the drug "best in class," with the potential of transforming the treatment of many blood cancers.

Catalysts in the next 12-24 months include clarity over off-label use and Multiple Myeloma treatment efficacy, which could bring fair value to $285/share.

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