Pharmacyclics Quarterly Update; Roth Capital Maintains Buy


Roth Capital analyst Joseph Pantginis maintained a Buy rating on Pharmacyclics (NASDAQ:PCYC) with a $188 price target, following the company third-quarter results, posting diluted GAAP EPS of $0.53 vs. Roth’s estimate of $0.64 and consensus of $0.37.

Pantginis wrote, “We are impressed with the positive financial results of 3Q14. Per management, 3Q14 was the first profitable quarter under the Janssen collaboration. Management indicated that they see room for further Imbruvica growth from label expansions (such as the recent approval in del17p CLL), prescriptions for CLL patients not yet on Imbruvica and combination therapies. We remain vigilant in our outlook for Imbruvica sales numbers but believe label expansion should contribute significantly to revenues as they are approved. The clinical path to label expansion is stoked with over 50 ongoing trials with Imbruvica, 13 of which are Phase III studies. We look forward to a flood of new Imbruvica data from a significant portion of these company-sponsored and IST studies at the upcoming ASH meeting.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of -6.6% and a 42.9% success rate. Pantginis has a 15.0% average return when recommending PCYC, and is ranked #3308 out of 3362 analysts.

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