Juno Therapeutics Inc
FBR analyst Edward White reiterated an Outperform rating on shares of Juno Therapeutics, with a price target of $73, after the company announced that it has acquired AbVitro, a privately held biotechnology company based in Boston, Massachusetts, for around $125 million. AbVitro has developed technology that can identify personalized, fully human, natively paired TCR and CAR T binders.
White observed, “With AbVitro’s technology, the company can sequence millions of single cells to discover novel targets, as well as generate binders for known targets. Additionally, Juno has agreed to license part of the technology to Celgene and grant Celgene options to certain potential product candidates developed using the newly acquired AbVitro technology. We believe this acquisition further solidifies Juno’s drive to be a best-in-class immuno-oncology company.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Edward White has a yearly average return of -39.9% and a 0% success rate. White has a -21% average return when recommending JUNO, and is ranked #3515 out of 3594 analysts.
FBR analyst Thomas Yip reiterated an Outperform rating on shares of Peregrine, with a $3.50 price target, after the company announced a new trial initiation for bavituximab and provided updates of several clinical trials.
Yip wrote, “We note that this trial is in addition to a 150-patient Phase II/III trial for HER2-negative metastatic breast cancer (MBC) in combination with docetaxel/paclitaxel initiated in December. Peregrine also reiterated its previously announced plan to initiate a Phase I/II solid tumor trial of bavituximab in combination with durvalumab, and expects new investigator-sponsored trials to begin under its collaboration with the National Comprehensive Cancer Network (NCCN) in 2016. As the pivotal Phase III SUNRISE trial in NSCLC is nearing complete enrollment, we think the expansion of the bavituximab breast cancer program reflects Peregrine’s confidence in the indication.”
According to TipRanks.com, analyst Thomas Yip has a yearly average return of -25.2% and a 28% success rate. Yip has a -12.2% average return when recommending PPHM, and is ranked #3506 out of 3594 analysts.