Important Announcement

Over the last two days, the website has been unstable as I have been implementing a forum. Any inconvenience this has caused is deeply regretted but a forum will enhance user experience. Many of you participate in the chat room on a daily basis but there are several subscribers who are not able to join on a daily basis. The forum will be beneficial to them as they can do a ticker wise search of their query. This is not to say that daily users will lose out on anything. The forum will in fact make search easier. For example, instead of scrolling up and down to find out what other subscribers or I have said about a particular stock, you will be able to search the ticker in the forum and follow the discussion. While I implement this forum, there might be technical glitches for a few days. Please bear with me for a few days. The forum is already up and running and I encourage you to ask your questions directly by starting new topics.

MEI Pharma (MEIP) shares surged on Monday after the company announced that it has entered into an an exclusive licensing, development and commercialization agreement for Pracinostat, a Phase III-ready drug candidate for the treatment of acute myeloid leukemia (AML) and other potential indications. The fact that the agreement has come before the commencement of the Phase III trial validates Pracinostat’s potential. MEIP shares rose more than 50% on Monday before finishing around 27% higher. This was possibly due to profit booking. Despite the surge, MEIP still looks attractive. Remember we are still well off the levels the stock traded at the beginning of 2015.

ACADIA Pharmaceuticals (ACAD) have edged lower in pre-market trading today after the company announced a secondary offering. ACAD plans to offer $200 million of its common stock. Price and volume have not been announced yet but given the challenging environment for biotech, I would not be surprised if the offering is made at a discount. That could push ACAD shares lower but it will also create an attractive opportunity in my opinion. I will update the price target on ACAD once the details of the secondary offering are released. However, the dilutive offering will not have a significant impact on current price target.

Novartis Announces Promising Data for Asthma Pill- Novartis (NVS) announced promising results from a small clinical trial, reducing a biological marker of asthma nearly five-fold in a 12-week trial involving 61 patients. Fevipiprant  now needs to prove that the twice-daily pill can also reduce severe asthma attacks, known as exacerbations. The Swiss drug maker believes the medicine could be filed for regulatory approval around 2019.

No approvals to report.

No patents to report.

No deals and collaborations to report.

No secondary offerings to report.

No IPOs to report.

Alere (ALR) reported a loss of $0.28 per share in its fourth quarter. The company’s revenue for the quarter was $623.29 million, down 6.6% on a year-over-year basis. Revenue missed consensus forecast by $5.24 million.

Epizyme (EPZM) reported a loss of $0.49 per share in its second quarter. The company’s loss was 3 cents below consensus forecast. EPZM reported revenue of $0.47 million, down 36.5% on a year-over-year basis. Revenue missed consensus forecast by $0.41 million.

Allergan (AGN) reported earnings of $3.35 per share in its second quarter, beating consensus forecast by 3 cents. The company’s revenue for the quarter was $3.71 billion, up 1.1% on a year-over-year basis. Revenue missed consensus forecast by $270 million.

Horizon Pharma (HZNP) reported earnings of $0.62 per share in its second quarter, beating consensus forecast by 12 cents. The company reported revenue of $257.4 million, up 48.9% on a year-over-year basis. Revenue beat consensus forecast by $22.52 million.

Tonix Pharmaceuticals (TNXP) reported a loss of $0.50 per share in its second quarter, beating consensus forecast by 5 cents. The company ended the quarter with $31.2 million in cash and cash equivalents on its balance sheet.

Adaptimmune (ADAP) reported a loss of $0.31 per share in its second quarter. The company reported revenue of $0.33 million, down 88.1% on a year-over-year basis.

Chimerix (CMRX) reported a loss of $0.39 per share in its second quarter, beating consensus forecast by 12 cents. The company’s revenue for the quarter was $1.84 million, down 55.6% on a year-over-year basis. Revenue missed consensus forecast by $0.14 million.

TG Therapeutics (TGTX) reported a loss of $0.33 per share in its second quarter, missing consensus forecast by 4 cents. The company’s revenue for the quarter was $0.04 million, flat on a year-over-year basis. Revenue was in-line with the consensus forecast.

Flamel Technologies (FLML) reported a loss of $0.02 per share in its second quarter, missing consensus forecast by 8 cents. The company reported revenue of $38.86 million, down 20% on a year-over-year basis. Revenue beat consensus forecast by $6.06 million.

Pfenex (PFNX) reported a loss of $0.43 in its second quarter, beating consensus forecast by 4 cents. The company’s revenue for the quarter was $3.14 million, up 37.1% on a year-over-year basis. Revenue beat consensus forecast by $0.59 million.

Inovio Pharmaceuticals (INO) reported a loss of $0.26 per share in its second quarter, missing consensus forecast by 5 cents. The company’s revenue for the quarter was $6.2 million, up 17.2% on a year-over-year basis. Revenue beat consensus forecast by $1.25 million.

Atara Biotherapeutics (ATRA) reported a loss of $0.66 per share in its second quarter. The company ended the quarter with $294.6 million in cash and investments on its balance sheet.

Proteon Therapeutics (PRTA) reported a loss of $0.48 per share in its second quarter, missing consensus forecast by 5 cents. The company ended the quarter with $53.7 million in cash and cash equivalents on its balance sheet.

Verastem (VSTM) reported a loss of $0.23 per share in its second quarter, beating consensus forecast by 6 cents. The company ended the quarter with $92.9 million in cash and cash equivalents on its balance sheet.

Ritter Pharmaceuticals (RTTR) reported a loss of $0.48 per share in its second quarter. The company ended the quarter with $10.8 million in cash and cash equivalents on its balance sheet.

Rexahn (RNN) reported a loss of $0.01 per share in its second quarter, beating consensus forecast by a penny. The company ended the quarter with $19.4 million in cash and investments on its balance sheet.

SCYNEXIS (SCYX) reported a loss of $0.56 per share in its second quarter, missing consensus forecast by 4 cents. The company reported revenue of $0.06 million, flat on a year-over-year basis. Revenue missed consensus forecast by $0.03 million.

InVitae (NVTA) reported a loss of $0.77 per share in its second quarter. The company reported revenue of $5.58 million for the quarter, up 210% on a year-over-year basis.

MannKind (MNKD) reported a loss of $0.07 per share in its second quarter, missing consensus forecast by a penny. The company ended the quarter with cash and cash equivalents of $63.7 million on its balance sheet.

FibroGen (FGEN) reported second-quarter earnings of $0.39 per share, beating consensus forecast by 3 cents. The company’s revenue for the quarter was $89.3 million, down 25.9% on a year-over-year basis. Revenue beat consensus forecast by $10.75 million. FGEN ended the quarter with $368.8 million in cash, cash equivalents, investments, receivables, and restricted cash on its balance sheet.

Ardelyx (ARDX) reported a loss of $0.83 per share in its second quarter. The company ended the quarter with $257 million in cash and cash equivalents on its balance sheet.

Dermira (DERM) reported a loss of $0.89 per share in its second quarter, missing consensus forecast by 3 cents. The company ended the quarter with cash and equivalents of $297.9 million on its balance sheet.

La Jolla Pharmaceutical (LJPC) reported a loss of $0.90 per share in its second quarter, beating consensus forecast by 9 cents. The company’s revenue for the quarter was $0.25 million, beating consensus forecast by $0.17 million.

Synergy Pharma (SGYP) reported a loss of $0.23 per share in its second quarter, missing consensus forecast by 3 cents. The company ended the June quarter with $141.2 million in cash and cash equivalents on its balance sheet.

Protalix BioTherapeutics (PLX) reported a loss of $0.11 per share in its second quarter, missing consensus forecast by 3 cents. The company reported revenue of $1.77 million, up 32.1% on a year-over-year basis.

Akebia (AKBA) reported a loss of $0.95 per share in its second quarter, missing consensus forecast by 38 cents. The company ended the quarter with cash and equivalents of $188.64 million on its balance sheet.

Achaogen (AKAO) reported a loss of $0.69 per share in its second quarter, missing consensus forecast by 2 cents. The company posted revenue of $8.09 million, down 33.5% on a year-over-year basis. Revenue beat consensus forecast $2.37 million.

Heron Therapeutics (HRTX) reported a loss of $1.17 per share in its second quarter, missing consensus forecast by 21 cents. The company ended the quarter with $74.6 million in cash and equivalents on its balance sheet.

Endo (ENDP) reported earnings of $0.86 per share in its second quarter, beating consensus forecast by 12 cents. The company reported revenue of $921 million, up 25.3% on a year-over-year basis. Revenue beat consensus forecast by $56.66 million.

Theravance Biopharma (TBPH) reported a loss of $1.06 per share in its second quarter, missing consensus forecast by a penny. The company reported revenue of $5.5 million, down 22.9% on a year-over-year basis. Revenue missed consensus forecast by $7.23 million.

Ultragenyx Pharmaceutical (RARE) reported a loss of $1.46 per share in its second quarter, missing consensus forecast by 2 cents. The company reported revenue of $0.02 million.

Bellicum Pharmaceuticals (BLCM) reported a loss of $0.61 per share in its second quarter, missing consensus forecast by 4 cents. The company reported revenue of $0.1 million, up 25% on a year-over-year basis. Revenue beat consensus forecast by $0.01 million.

ChemoCentryx (CCXI) reported a loss of $0.22 per share in its second quarter. The company posted revenue of $2.8 million for the quarter.

Opko Health (OPK) reported earnings of $0.02 per share in its second quarter, beating consensus forecast by 5 cents. The company reported revenue of $357.1 million, up 742.2% on a year-over-year basis. Revenue beat consensus forecast by $33 million.

Celldex (CLDX) reported a loss of $0.32 per share in its second quarter, beating consensus forecast by 2 cents. The company reported revenue of $1.4 million, down 35.8% on a year-over-year basis. Revenue beat consensus forecast by $0.55 million.

Rockwell Medical (RMTI) reported a loss of $0.11 per share in its second quarter, missing consensus forecast by a penny. The company reported revenue of $13.5 million, up 4.2% on a year-over-year basis. Revenue missed consensus forecast by $0.36 million.

Agile Therapeutics (AGRX) reported a loss of $0.29 per share in its second quarter. The company ended the quarter with $59.2 million in cash and cash equivalents on its balance sheet.

Clovis Oncology (CLVS) reported a loss of $2.07 per share in its second quarter, beating consensus forecast by 3 cents. The company ended the quarter with $378.5 million in cash, cash equivalents and available-for-sale securities on its balance sheet.

Enanta Pharma (ENTA) reported a loss of $0.06 per share in its third quarter, beating consensus forecast by 4 cents. The company reported revenue of $14 million, up 20.7% on a year-over-year basis. Revenue beat consensus forecast by $0.95 million.

Quotient (QTNT) reported a loss of $0.64 per share in its second quarter, beating consensus forecast by 4 cents. The company reported revenue of $5.71 million, up 17.7% on a year-over-year basis. Revenue beat consensus forecast by $0.01 million.

Vericel (VCEL) reported a loss of $0.21 per share in its second quarter, missing consensus forecast by 5 cents. The company reported revenue of $12.8 million, down 5.8% on a year-over-year basis. Revenue missed consensus forecast by $2.25 million.

Kite Pharma (KITE) reported a loss of $0.91 per share in its second quarter, beating consensus forecast by 30 cents. The company reported revenue of $4.8 million, up 9.1% on a year-over-year basis. Revenue missed consensus forecast by $0.06 million.

Arena Pharmaceuticals (ARNA) reported a loss of $0.11 per share in its second quarter, missing consensus forecast by a penny. The company reported revenue of $9.5 million, up 3.5% on a year-over-year basis. Revenue missed consensus forecast by $0.94 million.

Amphastar (AMPH) reported second-quarter earnings of $0.23 per share, beating consensus forecast by 19 cents. The company reported revenue of $64 million, up 18.8% on a year-over-year basis. Revenue beat consensus forecast $1.9 million.

Kindred Biosciences (KIN) reported a loss of $0.25 per share in its second quarter, beating consensus forecast by 7 cents. The company ended the quarter with $66.3 million in cash, cash equivalents and investments on its balance sheet.

Fate Therapeutics (FATE) reported a loss of $0.29 per share in its second quarter, beating consensus forecast by 3 cents. The company reported revenue of $1.03 million, up 212.1% on a year-over-year basis. Revenue beat consensus forecast by $0.16 million.

Company (Ticker) Brokerage Action Recommendation Price Target My Price Target
AbbVie (ABBV) Argus Reiterate Buy N/A

$80

ACADIA Pharmaceuticals (ACAD) HC Wainwright Reiterate Buy

$60

TBU
ACADIA Pharmaceuticals (ACAD) Piper Jaffray Cos. Reiterate Overweight

$44

TBU
AVEO Pharmaceuticals (AVEO) FBR & Co. Reiterate Buy N/A N/A
AstraZeneca (AZN) Cantor Fitzgerald Reiterate Buy N/A N/A
AstraZeneca (AZN) JPMorgan Chase Reiterate Neutral N/A N/A
Bristol-Myers Squibb (BMY) Piper Jaffray Cos. Price Target Cut Neutral From $69 to $65 N/A
Bristol-Myers Squibb (BMY) Deutsche Bank Price Target Cut Hold From $68 to $62 N/A
Bristol-Myers Squibb (BMY) Jefferies Group Price Target Cut Hold From $80 to $69 N/A
Dicerna Pharmaceuticals (DRNA) Chardan Capital Price Target Cut Neutral From $4 to $3.50 N/A
Five Prime Therapeutics (FPRX) Leerink Swann Price Target Raised Outperform From $45 to $58 N/A
Genocea Biosciences (GNCA) FBR & Co. Reiterate Buy N/A

$10

Intercept Pharmaceuticals (ICPT) Cantor Fitzgerald Reiterate Sell

$60

N/A
Illumina (ILMN) Argus Price Target Raised Buy From $175 to $185 N/A
Inovio Pharmaceuticals (INO) Piper Jaffray Cos. Reiterate Overweight N/A N/A
Ironwood Pharmaceuticals (IRWD) Leerink Swann Price Target Raised Market Perform From $10 to $14 N/A
Merck & Co. (MRK) Piper Jaffray Cos. Price Target Raised Neutral From $58 to $62

$70

Merck & Co. (MRK) Deutsche Bank Price Target Raised Hold From $58 to $59

$70

Merck & Co. (MRK) Jefferies Group Price Target Raised Hold From $53 to $57

$70

Mirati Therapeutics (MRTX) Piper Jaffray Cos. Price Target Cut Neutral From $14 to $7 N/A
Novo Nordisk (NVO) Bank of America Downgrade From Buy to Neutral N/A N/A
Otonomy (OTIC) Piper Jaffray Cos. Price Target Cut Overweight From $42 to $32 N/A
PTC Therapeutics (PTCT) Citigroup Price Target Raised Neutral From $8 to $9 N/A
Relypsa (RLYP) Cantor Fitzgerald Reiterate Hold

$32

N/A
SCYNEXIS (SCYX) Brean Capital Reiterate Buy N/A N/A
Teva Pharmaceutical Industries (TEVA) Piper Jaffray Cos. Price Target Raised Neutral From $55 to $57 N/A
Trovagene (TROV) Cantor Fitzgerald Upgrade/Price Target Raised From Hold to Buy $5 to $7 N/A

No insider buys to report.

Spark Therapeutics (ONCE)- Jeffrey D. Marrazzo, CEO, sold 900 shares in two separate transactions. Marrazzo sold 800 shares at $60.27; and 100 shares at $60. Marrazzo still owns 230,000 shares of ONCE.

No management and changes additions to report.

NYSE- InVitae (NVTA) shares were among the major gainers on the NYSE. The stock closed 8.90% higher. Intrexon (XON) shares were among the major losers on the NYSE. The stock closed 5.78% lower. Puma Biotechnology (PBYI) ended the day 4.66% lower.

NASDAQ- Fate Therapeutics (FATE) shares were among the major gainers on the NASDAQ. The stock closed 22.75% higher. Portestasis Therapeutics (PTI) shares ended the day 10.53% higher. Tonix Pharmaceuticals (TNXP) ended the day 10.14% higher. Epizyme (EPZM) shares were among the major losers on the NASDAQ. The stock closed 12.31% lower. Clovis Oncology (CLVS) ended the day 9.88% lower. Adaptimmune Therapeutics (ADAP) ended the day 9.87% lower.

NYSEMKT- Palatin Technologies (PTN) shares were among the major gainers on the NYSEMKT. The stock closed 2.52% higher.

OTC- Amarantus Bioscience Holdings (AMBS) shares were among the major movers on the OTC market. The stock closed 2.84% lower.

Company (Ticker) Short Interest as a % of Float % Change Days to Cover
Kitov Pharmaceuticals (KTOV) -

-45.7%

1

Kura Oncology (KURA)

1.3%

-0.6%

0

La Jolla Pharmaceutical Company (LJPC)

9.2%

-4.8%

15

Lexicon Pharmaceuticals (LXRX)

12.6%

0.2%

21

Ligand Pharmaceuticals (LGND)

20.7%

3.1%

11

Lion Biotechnologies (LBIO)

12.5%

-0.5%

17

Lipocine (LPCN)

19.5%

3.6%

5

Loxo Oncology (LOXO)

11.3%

-2%

15

Mast Therapeutics (MSTX)

6.1%

-10.7%

4

Medgenics (MDGN)

3.8%

-0.9%

12