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The Biotech Analyst Run Down For Friday

Jul. 10, 2020 8:51 AM ETBLFS, CYTK, FGEN, PFE1 Comment
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Specializing in profiling high beta sectors, Bret Jensen founded and also manages The Biotech Forum, The Insiders Forum, and the Busted IPO Forum model portfolios. Finding “gems” in the biotech and small-cap stock sectors, these highly volatile spaces proven hugely successful have empowered Bret Jensen's own investing portfolio.

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Determination designs destiny.”― Abhijit Naskar

The market was mixed yesterday as the S&P 500 fell just over a half percent while the NASDAQ rose just over .8% to hit another all-time record.  New Covid19 cases continued to climb across the nation as states reopen and testing continues to expand rapidly.  

Increasing cries to pause or even reverse reopening phases in many states should be a major worry for investors.  My personal view continues to believe this is beyond moronic on many fronts, but given the hysteria around this pandemic; this is more than a remote possibility and investors need to consider it around their investor decisions at the moment.  Pre-market futures are pointing to a slightly down opening at the moment.

Latest Post From The Biotech Maven

Here are four biotech stocks analyst firms like this Friday as another trading week comes to a close.

Stifel Nicolaus is maintaining its Buy rating on Global Blood Therapeutics (GBT) and lifting its price target a buck a share to $113.   Here is their latest commentary on the company's prospects.

Heading into the 2Q20 print, we commissioned a survey of Sickle Cell Disease {SCD} physicians to get a handle on the Oxbryta launch during the dire days of the pandemic. Major takeaways are (1) in-person visits are still occurring, and their frequency increased in June, (2) some physicians have initiated patients on Oxbryta virtually and appetite for this seems to be increasing and (3) physicians are initiating severe patients, defined in our survey as having an annual vaso-occlusive crisis {VOC} burden of 2 or more, on Oxbryta to a similar degree as mild patients. We have high conviction that Oxbryta will avoid a 2Q20 miss, relative to Sell Side consensus, and moderate conviction of a beat. Perhaps just as important, we think commentary around the pandemic's impact on the launch going forward will be better than expected and drive shares higher.  

Data Point: According to Chicago Tribune reporting, Chicago homicides as of Sunday have risen sharply, by 39 percent this year so far, with 353 homicides reported, compared with 254 during the same period last year. And shootings of one or more people struck by gunfire are up 42 percent 

Cytokinetics (CYTK) is picking up some positive analyst support this week.  Tuesday, both Morgan Stanley and H.C. reissued Buy ratings on the stock with identical $35 price targets.  Today, Raymond James initiates the shares as a new Buy with a $39 price target.  The analyst there 'thinks that the GALACTIC-HF trial could be successful and provide a strong positive catalyst for Cytokinetics when it reads out during Q4. The company also has a good earlier stage pipeline that will emerge over the next 12 months, with AMG 594 being another differentiated asset for heart failure'

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Another analyst at Stifel is assuming coverage on Fibrogen (FGEN) with a Buy rating and $71 price target noting she 'believes the company's lead product, Roxadustat, could transform the management of anemia.'

Factoid of the Day: 

The NYPD said Wednesday that 179 cops filed for retirement between June 29 and Monday, an astounding 411 percent increase over the 35 who filed during the same period in 2019. The astonishing rush for the door came as 503 cops filed for retirement between May 25 — the day George Floyd was killed in Minneapolis, sparking anti-cop protests around the country — and July 3, the NYPD said. That number represents a 75 percent increase over the 287 who filed for retirement during the same time last year, the NYPD said.


Finally, we have BioLife Solutions (BLFS).  Today, B Riley FBR is raising its price target on BioLife from $20 to $25.50 and maintaining its Buy rating.  Earlier this week, Oppenheimer ($22 price target), Northland ($28 price target) and Maxim Group ($26 price target, up from $18) all reissued Buy ratings on BLFS.

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

Destiny is not fate, it's navigation.”― Richie Norton

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LAST DAY If you join the The Biotech Forum by clicking HERE you will get our 'option play of the week', as well as access to our model portfolio, investment archives and a very active Live Chat area during the trading day. In addition, we are providing 14 day free trials this week only. This will also entitled you to 25% Off discount links to our sister services, The Busted IPO Forum and The Insiders Forum, at the end of the trial. Both model portfolios have crushed the returns of the Russell 2000 since their launches.

Thank You & Happy Hunting,

Bret Jensen

Founder, The Biotech Forum, The Busted IPO Forum & The Insiders Forum

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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