Friday Morning Pre-Market Insights: KaloBios Pharmaceuticals Inc (KBIO), Sarepta Therapeutics Inc (SRPT), Noble Energy, Inc. (NBL)

KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) shares are up nearly 20% in pre-market trading this morning after the company announced that investor group comprised of Martin Shkreli and associates together have acquired 70% of its outstanding shares. The biotech company also announced the appointment of Martin Shkreli to the position of Chief Executive Officer and his election as Chairman of the Board. Yesterday, Needham analyst Alan Carr  dropped coverage of KaloBios, writing, “SEC filings yesterday indicate a turnover in ownership, raising more questions with respect to future direction of the company. Because the company is not a fit with our current coverage strategy, we are DROPPING COVERAGE.” According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, Alan Carr is one of the top analysts on Wall Street covering biotechnology. His picks average a 27 percent one-year return, and he’s ranked in the top 10 percent of all analysts.

Sarepta Therapeutics Inc (NASDAQ:SRPT) shares rose nearly 23% in pre-market trading today after the briefing documents were posted on the Food and Drug Administration’s website ahead of the November 24 advisory panel meeting regarding Kyndrisa (drisapersen), which designed to enable the production of a functional internally truncated dystrophin protein in patients with mutations amenable to exon 51 skipping. Piper Jaffray analyst Joshua Schimmer commented, “The medical reviewer has taken a very harsh view, focusing on many of the concerns we outlined in our deep dive. Ultimately, we believe BMRN will have to convince the FDA (and to some extent the panel) that the extreme unmet need warrants approval of a highly marginal drug, and the company seems confident it can do so. We expect shares to trade off today. We are still taking a close read through the ~400 page document, but doubt our perception will change.”

Out of the 10 analysts polled by TipRanks in the last 3 months, 9 rate Sarepta Therapeutics stock a Buy, while only 1 rates the stock a Hold. With a return potential of 95.63%, the stock’s consensus target price stands at $51.

Noble Energy, Inc. (NYSE:NBL) shares are crashing in pre-market trading after the company reported a wider-than-expected loss for the quarter and issued a disappointing outlook. BMO analyst Keith Bachman commented this morning, “Our original thesis on Nimble is broken. We had previously assumed (incorrectly) that Nimble’s technology advantage would enable the company to take share in both the midmarket and enterprise, while also gradually growing profits and cash flows. However, we think the challenges of Nimble’s competitors are now engulfing Nimble, in terms of both revenue growth and profits. Moreover, while Nimble envisions improving profitability in 2H FY2017, we are less convinced. We think the current state of demand suggests that established competitors will keep pricing aggressively. Nimble’s entrance in the all-flash array market could help, though we have not forecasted much improvement in demand due to Nimble’s expected all-flash products.”

Out of the 8 analysts polled by TipRanks in the last 3 months, 6 rate Noble Energy stock a Buy, while 2 rate the stock a Hold. With a return potential of 22.49%, the stock’s consensus target price stands at $44.83.



Stay Ahead of Everyone Else

Get The Latest Stock News Alerts