Roth Capital Maintains Buy On Pharmacyclics On The Back Of Imbruvica Data

In a research report released Monday, Roth Capital analyst Joseph Pantginis maintained a Buy rating on Pharmacyclics (NASDAQ:PCYC) with a price target of $188, as new Imbruvica data from National Institutes of Health (NIH) study published in the Lancet Oncology. 

Pantginis observed, “The data in del 17p patients are impressive and continue to solidify Imbruvica’s position in treating CLL patients. It is also important to point out that responses in patients also improve over time. With regard to our tweaked estimates, we believe the drug’s success will continue into 2015, however experienced some seasonality issues in 4Q14.”

“We are therefore re-estimating our base for anticipated 2015 growth. We have reduced our: 1) 2014 Imbruvica estimate from $477.5 million to $461 million (4Q14 estimate from $170.2 million to $153.7 million), 2) 2015 Imbruvica estimate from $594 million to $578 million and 3) 2016 Imbruvica estimate from $761 million to $751 million.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of 1.6% and a 50.0% success rate. Pantginis has a 4.8% average return when recommending PCYC, and is ranked #1277 out of 3427 analysts.

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