Bio-pharma shines says Wedbush as MacroGenics, Relypsa, and Aimmune to Outperform

MacroGenics shares race 16% higher, while Relypsa and Aimmune also seen outperforming by Wedbush

Hats off to MacroGenics whose share price advanced

Relypsa Inc (NASDAQ:RLYP) is reiterated an Outperform with a $51 share price target by brokers at Wedbush on Wednesday.

That marks a considerable jump from the closing share price of $14.36 on Wednesday.

"With the FDA decision for potentially approving ZS-9 as an alternative potassium binder, we anticipate RLYP shares could appreciate due to decreased competition risk if ZS-9's label mentions adverse events such as edema and hypertension," Wedbush said in a note.

"As expected, April launch metrics point to a gradual launch as physicians test Veltassa before wide adoption. In April, 1,216 patients received a free starter supply of Veltassa, 928 outpatient retail prescriptions were filled, and 288 hospital/institution Veltassa units were sold," the analyst added.

Relypsa, Inc. operates as a bio-pharmaceutical company focused on the development and commercialisation of non-absorbed polymeric drugs to treat disorders in the areas of renal, cardiovascular and metabolic diseases.

Similarly, Aimmune Therapeutics Inc (NASDAQ:AIMT) was reiterated as Outperform with s share price target of $42 by Wedbush.

"We recommend shares of AIMT in front of likely positive long-term data for AR101 expected next month at EAACI," the broker said.

$187mln in cash and cash equivalent balances provide runway through pivotal data readout in the second half of 2017, Wedbush said.

"Comments from our recent KOL meeting suggest to us that the concern of GI-intolerability related to AR101 treatment is likely overblown," the analyst said.

Aimmune shares closed up 0.86% at $14.15 on Wednesday.

Another bio-pharma reiterated at Outperform by Wedbush was MacroGenics Inc (NASDAQ:MGNX) - whose shares raced 16.7% higher to $21.06 on Wednesday.

Wedbush said its 12-month share price target on MacroGenics was $52.

"Licence deal continues validation of MGNX's robust DART platform -- we see shares as undervalued at current levels," opined Wedbush.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Full interview: GlobeX Data begins a social media influencers program for...

GlobeX Data (OTCQB: SWISF- CSE: SWIS) CEO Alain Ghiai joined Steve Darling from Proactive Vancouver with news the company has started a social media influencers program to help get the word out about their cybersecurity products. Ghiai telling Proactive how the program will work and the...

17 hours, 15 minutes ago

2 min read