The Biotech Analyst Run Down For Tuesday

Hope isn't destiny. Left passive its nothing more than disappointment deferred” ― Bill Willingham,

Stocks started the first full trading week of the third quarter on the right foot on Monday.  A big rally in Chinese markets helped boost equities here.  The S&P 500 rose one and a half percent while the NASDAQ was up better than two percent on the day.

European markets are down today and our pre-market futures are down just over a half percent as equities look like they will open down to start a new trading day.

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Here are four biotech stocks analyst firms like this Tuesday.

Unum Therapeutics (UNUM) sees its first analyst activity since late in the first quarter today.  Wedbush upgrades the small cap name to Outperform from Neutral this morning.  The company just completed a small acquisition and raised just over $100 million from investors to do that purchase it should be noted.

Like Duh!: "Officials in Los Angeles, Seattle, and Miami-Dade County, Fla., have acknowledged that anti-police protests and riots may have led to increased spread of the coronavirus.   All three cities have experienced an uptick in coronavirus cases after weeks of protesting sparked by the death of George Floyd in Minneapolis police custody." 

Vaxcyte (PCVX) getting the usual post-IPO kisses from analysts this morning in the first analyst actions on this name since it came public in mid-June.  Jefferies ($41 price target), Needham ($40 price target) and Cantor Fitzgerald all initiate the shares as a new Buy this morning.

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Kura Oncology (KURA) is initiated as a new Outperform with a $27 price target at Credit Suisse which provides the following commentary.

Kura is now conducting a registration trial for tipifarnib with data expected around 2021, supporting a possible 2022 launch, and models peak revenue potential of $400M-$500M in the r/r HRAS overexpressing patients. The analyst also sees a very favorable reward/risk skew ahead of the first clinical update of KO-539 in NPM1 Mutant/MLL-r AM"

This Is The Lobbyist You Want! Novavax (NVAX), which has no recurring revenues after more than 20 years as a public company, scores $1.6 billion...yes billion with a B,  from the government as part of their Operation Warp Speed to develop a Covid19 vaccine.  There is no easier 'funding gate' than the one to taxpayer's money as an old friend like to quip.

Finally, we have NGM Biopharmaceuticals (NGM) which is initiated as a new Buy with a $40 price target over at Chardan Capital.

And those are four biotech stocks getting the 'thumbs up' before the bell on this Tuesday morning.

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