Synageva: We Remain Supportive Of GEVA Shares At Current Levels, Says Janney
In a research note released this morning, Janney Montgomery Scott analyst Kimberly Lee reiterated coverage on Synageva BioPharma Corp. (GEVA) with a Buy rating and raised her fair value estimate to $111.00 (from $107) following today’s news that GEVA’s ARISE trial of sebelipase alfa met the primary endpoint of normalization of alanine aminotransferase, ALT, a marker of liver injury, in 66 children and adults with lysosomal acid lipase deficiency.
Lee commented: “We believe shares remain attractive based on a de-risked regulatory path, value-creating catalysts and a meaningful market opportunity. Our revised fair value estimate of $111 reflects decreased development and regulatory risks and is based on a DCF analysis of cash flows through 2021”.
According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Kimberly Lee currently has a one-year average return of 24% and a 80% success rate. Lee has an 15.5% average profit recommending GEVA, and she is ranked #2079 out of 3141 analysts.