13.8% Annual Return With Synageva BioPharma
Special Situations and Arbs
Special Situations and Arbs
May 7, 2015, 12:32 PM
- Sarepta Therapeutics (SRPT +1.4%) upgraded to from Neutral to Outperform with a $20 (34% upside) price target by Baird.
- Eli Lilly (LLY +0.1%) upgraded from Neutral by Citigroup.
- Synageva Biopharma (GEVA +3.6%) downgraded to Neutral with $226 (8% upside) price target by Wedbush.
- Sucampo Pharmaceuticals (SCMP -16.7%) downgraded to Hold with $18 (21% upside) by Cantor Fitzgerald.
- OraSure Technologies (OSUR -14.6%) downgraded to Market Perform by JMP Securities.
- PTC Therapeutics (PTCT -0.1%) downgraded to Neutral with a $63 (15% upside) price target by Roth Capital.
- PerkinElmer (PKI +0.2%) downgraded to Sector Weight by KeyBanc.
- Varian Medical Systems (VAR +0.9%) downgraded to Neutral with a $90 (3% upside) price target by JP Morgan.
- Agios Pharmaceuticals (AGIO +1.8%) downgraded to Hold with a $103 (5% upside) price target by Canaccord.
May 6, 2015, 1:29 PM
- Alexion Pharmaceuticals (ALXN -9.7%) heads south on a 7x surge in volume as investors adjust to the dilution from its $8.4B takeout of Synageva BioPharma (GEVA +113.7%).
- In addition to $115 in cash, Alexion is offering 0.6581 shares of ALXN stock for each GEVA share. This represents a ~12% dilution to current ALXN shareholders.
- Here's the math: 0.6581 x 36.5M shares of GEVA = ~24M/202M shares of ALXN = ~12%.
May 6, 2015, 12:45 PM
May 6, 2015, 9:11 AM
May 6, 2015, 7:24 AM
- Alexion Pharmaceuticals (NASDAQ:ALXN) acquires Synageva BioPharma (NASDAQ:GEVA) for $115 in cash and 0.6581 shares of ALXN for each share of GEVA, for a total value of $230 per share or $8.4B.
- Alexion expects to achieve annual cost synergies this year and growing to at least $150M in 2017. The transaction will be accretive to non-GAAP EPS in 2018.
- Synageva develops therapies for rare diseases. Its lead product candidate is the Orphan Drug-, Fast Track- and Breakthrough Therapy-designated Kanuma (sebelipase alfa), an enzyme replacement therapy for the treatment of lysosomal acid lipase deficiency or Wolman disease. Its marketing applications are currently under review in the U.S. and Europe. Its second product candidate is the Phase 1/2-stage SBC-103, an enzyme replacement therapy for mucopolysaccharidosis IIIB, known as Sanfilippo B syndrome, a rare, inherited lysosomal storage disease. It is designated an Orphan Drug by the FDA and EMA and for Fast Track review by the FDA.
- GEVA is up 124% premarket.
Apr. 29, 2015, 5:25 PM
- Synageva BioPharma (NASDAQ:GEVA): Q1 EPS of -$1.63 beats by $0.07.
- Revenue of $0.93M (-41.5% Y/Y) misses by $0.26M.
Feb. 26, 2015, 4:10 PM
- Synageva BioPharma (NASDAQ:GEVA): Q4 EPS of -$1.73 misses by $0.02.
- Revenue of $1.24M (-64.3% Y/Y) misses by $0.13M.
Aug. 5, 2014, 12:45 PM
- Cautious overall on small caps (NYSEARCA:IWM) due to valuation concerns, Goldman's David Kostin nevertheless has a list of 25 names with market caps less than $4B which could offer at least 25% upside to his firm's price target over the next year.
- The list skews towards Consumer Discretionary - Lumber Lidquidators (LL +2.1%), Office Depot (ODP -2.4%), RetailMeNot (SALE -26.1%), Ryland (RYL +0.5%), Steven Madden (SHOO +2.7%), Vitamin Shoppe (VSI -8.2%) - and Tech - Universal Display (OLED -0.2%), Qlik Technologies (QLIK -1.6%), Proofpoint (PFPT -1.5%), Polycom (PLCM +0.2%), Nimble Storage (NMBL -0.3%), Marketo (MKTO +1.1%), Infinera (INFN +1.1%), Cornerstone Ondemand (CSOD -0.9%), GT Advanced Technology (GTAT +5.7%).
- Also included are Health Care names: Agios Pharmaceuticals (AGIO -1.1%), NPS Pharma (NPSP +0.7%), NuVasive (NUVA -1.8%), Synageva (GEVA -1.6%); Consumer Staples: Darling Ingredients (DAR -0.8%); Materials: Axiall (AXLL -1%), Boise Cascade (BCC -0.9%); Industrials: Granite Construction (GVA +0.7%), Financials: MGIC Investment (MTG +1.2%), Radian (RDN +1.7%).
Aug. 1, 2014, 3:57 PM
- Synageva BioPharma (GEVA +1.1%) Q2 results: Total Revenue: $2.3M (-32.3%); Operating Expenses: $52.7M (+105.9%); Operating Loss: ($50.3M) (-126.6%); Net Loss: ($50.2M) (-127.1%); Loss Per Share: ($1.52) (-187.7%); Quick Assets: $534.5M (+30.8%).
- 2014 Guidance: Net loss: $190M - 205M.
Jul. 1, 2014, 12:48 PM
Jun. 30, 2014, 5:35 PM
Jun. 30, 2014, 4:41 PM
- A 66-patient randomized, double-blind, placebo-controlled Phase 3 clinical trial for Synageva BioPharma's (GEVA +1%) sebelipase alfa as a treatment for lysosomal acid lipase deficiency (LAL Deficiency) achieved its primary endpoint of statistically significant normalization of alanine aminotransferase (ALT).
- In addition to ALT normalization, sebelipase alfa improved dyslipidemia with statistically significant reductions in LDL cholesterol and triglycerides and a statistically significant increase in HDL cholesterol all compared to placebo from baseline.
- The company plans to submit its regulatory applications to the FDA and EMA by late Q1 2015.
Apr. 30, 2014, 6:59 PM
- Synageva BioPharma (GEVA): Q1 EPS of -$1.16 beats by $0.03.
- Revenue of $1.6M misses by $0.2M.
Jan. 8, 2014, 10:46 AM
- Nomura's Ian Somaiya (formerly at Piper) is out with a number of healthcare initiations.
- Gilead (GILD +1.7%) is the firm's top biotech pick for 2014 as the company is "set to dominate the HCV market." GILD started at Buy. Price target is $118.
- Neurocrine Biosciences (NBIX -3.2%) started at Buy. Somaiya sees peak sales of $700M for NBI-98854. Price target is $23.
- Celgene (CELG +1.2%) started at Buy. "Revlimid for multiple myeloma, is less than a third of the way to realizing its peak sales potential," Somaiya says. Price target is $236.
- Biogen (BIIB +4.1%) initiated at Buy. Tecfidera, is "a blockbuster ... treatment for MS, with estimated peak sales of $9B," Somaiya notes. Price target is $368.
- Alexion (ALXN +1.5%) initiated at Buy. Price target $150.
- Pharmacyclics (PCYC +1.9%) will "transform the treatment paradigm and disease course of CLL and mantle cell lymphoma MCL." Shares started at Buy. Price target is $137.
- Other initiations: Incyte (INCY +5.9%) started at Buy. Synageva BioPharma (GEVA +3.7%) started at Buy. BioMarin (BMRN +1.2%), Amgen (AMGN), and Infinity Pharmaceuticals (INFI +2.8%) started at Neutral.
Jan. 6, 2014, 9:27 AM
- Synageva BioPharma (GEVA) is out with an update on the development program for sebelipase alfa.
- Enrollment is complete (and exceeded the target) in a Phase 3 trial in children and adults with LAL deficiency. Results expected in H2 2014.
- Enrollment target met in Phase 2/3 trial in infants with LAL Deficiency. (PR)
Dec. 2, 2013, 4:17 PM
- Synageva BioPharma (GEVA) completes enrollment in a Phase 3 study of sebelipase alfa in LAL Deficiency.
- Top-line results now expected in H2 2014. (PR)