Seeking Alpha

"Not cheap" Pharmacyclics is headed higher on Ibrutinib potential: JPMorgan

  • All aboard the Pharmacyclics (PCYC +8.6%) bandwagon. JPMorgan's Cory Kasimov is out with new coverage at Overweight.
  • The stock "certainly isn't cheap," Kasimov notes (it's up more than 100% so far this year), but that doesn't stop him from predicting that it's about to get even less cheap: Price target is $142.
  • The rationale: It's all about Ibrutinib (developed with JNJ) which William Blair says may just be the "largest product in hematology oncology history."
  • "Investor appetite will persist based on the drug's multibillion-dollar sales potential," Kasimov says, adding that "on the regulatory front, ibrutinib is largely de-risked given its highly promising safety/efficacy profile and multiple Breakthrough Therapy designations." JPM expects approval this year.
  • More on Ibrutinib and Breakthrough Therapy here
Comments (4)
  • tremendous move! Great product saving and prolonging life, with much less if any bad side effects!
    Bob Duggan the CEO/Chrmn has done this before. ISRG at 12 up to
    500+ now at 350.
    Same guy, great visionary that gets things done! Always first with new technology that works and changes the field.
    26 Sep 2013, 12:24 PM Reply Like
  • Long on JNJ and getting longer
    26 Sep 2013, 01:39 PM Reply Like
  • $142 is still way undervalued. Buyout is min $200.
    26 Sep 2013, 03:05 PM Reply Like
  • How much would you pay to cure cancer??? That's what I thought, more than a measily $142/share.
    26 Sep 2013, 07:05 PM Reply Like
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