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Monday: Biotech Analyst Run Down

Life calls the tune, we dance. ― John Galsworthy

The S&P 500 hit another all-time high Wednesday.  Markets fell back slightly after Friday's robust Jobs Reports killed all hopes for a 50 bps rate cut from the Fed.  The most likely scenario now is a 25 bps interest rate cut either at the July or September meeting of the central bank.

As we await a new trading week to open, here are four biotech stocks garnering positive analyst commentary today.

Piper Jaffray reiterates its Buy rating on Xencor (XNCR) from $56 to $67 this morning while maintaining its Overweight rating.  Piper's analyst 'believes the stock should be townee for the multiple bispecific readouts through the end of 2019. Initial Phase I data readouts for XmAb13676 in B-cell malignancies, XmAb18087 in GIST/NET and XmAb20717 are all anticipated in the second half of the year.'Stifel Nicolaus resumes coverage on Genocea Biosciences (GNCA) with a Buy rating and $13 price target.  Stifel's analyst states he 'thinks investors have underappreciated the "compelling" immunogenicity phase 1 data from GEN-009, Genocea's lead program. Genocea's current valuation, which is at the low range of peers, makes the shares worth owning ahead of clinical efficacy data expected in 2020'.

It should be noted that Stifel was a joint book running manager for the company's recent secondary offering.

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Next up is Protagonist Therapeutics (PTGX).  H.C. Wainwright starts the name as a Buy with a $23 price target.  Wainwright analyst notes 'While Protagonist's pipeline remains relatively early stage, the Phase 2 data expected later this year for PTG-300 should be an important catalyst for shares since the data may cause investors to assign a much higher valuation to that program, especially as the company should begin work on a second indication'

Finally, UniQure (QURE) sees its price target raised to $94 from $81 at Cantor Fitzgerald after posting encouraging trial results.  Cantor's analyst maintains his Overweight rating and notes that he 'remains optimistic that uniQure has the "best-in-class" hemophilia B gene therapy product. Further, he thinks new interest could emerge from the company's pipeline beyond hemophilia B this year'.  H.C. Wainwright also reiterates its Buy rating and $73 price target on QURE this morning.  Given the stock trades currently at $75, the analyst might not have had his cup of coffee this Monday.And those are four small cap concerns receiving analyst 'shout outs' this Monday.

Don't forget to take advantage of the special offer we made over the weekend for Busted IPO Forum. The Busted IPO Forum model portfolio has crushed the return of the Russell 2000 (31.12% versus 4.17% (as of 07/05/2019)) since its launch in late summer of 2017. Click HERE to get your free two week trial and receive 20% off your first year of membership.  But hurry, this offer will expire at market close Friday.  Several new investment recommendations into the model portfolio will be published over the next few weeks as well.

Thank You & Happy Hunting,

Bret Jensen, Founder

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. 

The struggles we endure today will be the ‘good old days’ we laugh about tomorrow. ― Aaron Lauritsen

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