Over the past year, biotech companies have more or less kept pace with the markets, but they have the potential to break out in 2018. While they have been the obvious beneficiaries of a raging bull market, there have been plenty of factors that have held biotechs back as well.
In the past, companies in the health care sector have been heavily scrutinized for their pricing practices, which led to a big witch hunt that, among other things, seemingly ended with the infamous Martin Shkreli going to jail. In this time, Republicans also failed to achieve their goal of repealing the Affordable Care Act, or Obamacare. However, all these are in the past and 2018 is wide open.
Jefferies has compiled a list of over 30 biotech events taking place in 2018 that could result in significant stock moves. While some of these companies might move only 10% up or down, some have the potential to double or even crater, should a study be positive or negative.
Keep in mind that while Jefferies does give the expected upside and downside for each stock, the actual change could be entirely different based on unforeseen factors.
Atara Biotherapeutics Inc. (NASDAQ: ATRA) is scheduled for a Phase 3 trial initiation of ATA-129 around the beginning of 2018. The stock is expected to either see upside of 25% or downside of 10%. Shares of Atara were trading at $18.10 on Friday’s close, with a consensus analyst price target of $28.00 and a 52-week range of $11.80 to $23.00.
Abeona Therapeutics Inc. (NASDAQ: ABEO) has a couple of events that it expects in 2018:
- Phase 1/2 MPS neurocog data for ABO-102 is due in early 2018. Jefferies sees a 15% swing either way for this event.
- Break-Through Designation/Regulatory Updates are expected for ABO-102 in the first quarter. The stock is expected to either have upside of 20% or downside of 10%.
Shares of Abeona were last trading at $15.85, with a consensus price target of $29.09 and a 52-week range of $4.50 to $22.75.
Intercept Pharmaceuticals Inc. (NASDAQ: ICPT) is looking to have an FDA label update for Ocaliva early in the first quarter of 2018. The stock is expected to see either upside in the range of 10% to 20% or downside of 10% to 30%. Shares of Intercept were trading at $58.42, with a consensus price target of $127.65 and a 52-week range of $54.98 to $135.59.
Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) is expecting initial gene therapy data from its over-the-counter program early in 2018. The stock is expected to see upside of 10% or downside of 5%. Shares closed trading at $46.38, with a consensus price target of $65.81 and a 52-week range of $43.14 to $91.35.
AveXis Inc. (NASDAQ: AVXS) should hear FDA feedback on accelerating strategy for its AVXS-101 in January. The stock is expected to see either upside of 15% or downside of 30%. Shares of AveXis ended the week at $110.67, with a consensus analyst price target of $112.20 and a 52-week range of $46.41 to $114.45.
Axovant Sciences Ltd. (NASDAQ: AXON) has Phase 2 data on the way for Interpirdine and Neto in January. There was no clear upside estimate for the stock, but Jefferies could see downside between 50% and 100%. Shares of Axovant were trading at $5.27, with a consensus analyst target of $13.17 and a 52-week range of $4.60 to $27.98.
Eiger BioPharmaceuticals Inc. (NASDAQ: EIGR) is expected to see topline data for ubenimex in January as well. The stock is expected to either see upside of 50% or downside of 20%. Shares of Eiger last trading at $13.95, with a consensus price target of $32.20 and a 52-week range of $6.10 to $14.50.
24/7 Wall St.Assembly Biosciences Inc. (NASDAQ: ASMB) has Phase 1b 28-day data for AB-H0731 in patients with chronic HBV due in the first quarter of 2018. The stock is expected to see either upside in the range of 10% to 50% or downside of 10% to 50%. Shares of Assembly were trading at $45.25, with a 52-week range of $11.51 to $52.37.
AnaptysBio Inc. (NASDAQ: ANAB) is looking for ANB020 Phase 2 data in peanut allergy and eosinophilic asthma in the first or second quarter of 2018. The stock is expected to either see upside of 20% to 30% or downside of 15%. AnaptysBio shares closed most recently at $100.72, with a consensus price target of $91.25. The 52-week range is $15.17 to $102.63.
Esperion Therapeutics Inc. (NASDAQ: ESPR) expects to see pivotal Phase 3 safety data for bempedoic acid in the second quarter of 2018. The stock is expected to see either upside in the range of 50% to 100% or a downside between 50% and 75%. Esperion was trading at $65,84 a share, in a 52-week range of $10.71 to $68.60. The consensus price target is $71.08.
Heron Therapeutics Inc. (NASDAQ: HRTX) has Phase 3 data for HTX011 in bunionectomy and hernia due in the second quarter. The stock is expected to see upside of 75% to 100% or downside of 60%. Shares of Heron were trading at $18.10. The consensus price target is $31.00, and the 52-week range is $17.00 to $19.55.
Prothena Corp. PLC (NASDAQ: PRTA) is looking for Phase 2b data for NEOD1 in the second quarter. The stock is expected to see upside in the range of 50% to 100% or downside between 50% and 75%. Prothena shares were trading at $37.49, with a consensus price target of $75.17 and a 52-week range of $34.85 to $70.00.
Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) is anticipating Phase 3 data for ALXN1210 for the treatment of paroxysmal nocturnal hemoglobinuria. The stock is expected to see upside of 5% to 20% or downside of 20%. Shares of Alexion closed trading at $119.59, with a consensus price target of $163.29 and a 52-week range of $96.18 to $149.34.
Karyopharm Therapeutics Inc. (NASDAQ: KPTI) has potentially pivotal data for its Storm study of selinexor due out in April 2018. The stock is expected to see upside of 30% or downside of 15%. Karyopharm traded at $9.60 a share, with a consensus price target of $17.73 and a 52-week range of $7.48 to $14.63.
Rigel Pharmaceuticals Inc. (NASDAQ: RIGL) has an FDA Priority Drug User Fee Act (PDUFA) review date for fostamatinib on April 14, 2018. The stock is expected to have upside of 100% or downside of 70%. Shares of Rigel closed trading at $3.88, with a consensus price target of $5.83 and a 52-week range of $1.94 to $4.47.
Dova Pharmaceuticals Inc. (NASDAQ: DOVA) also has a PDUFA date for avatrombopag this coming spring, but it is set for May 21. Upside in the range of 20% to 25% or a downside of 50% is expected for the stock. Shares of Dova were trading at $28.80, with a consensus price target of $34.00. The 52-week range is $16.98 to $32.75.
CytomX Therapeutics Inc. (NASDAQ: CTMX) has first proof-of-concept data for CX072 due in June 2018. The stock is expected to see upside of 50% to 100% or downside of 40%. CytomX shares were trading at $21.11. The consensus price target is $33.33, and the 52-week range is $10.40 to $24.67.
Bluebird Bio Inc. (NASDAQ: BLUE) has a couple events expected in 2018:
- Data for bb2121 is expected at the American Society of Clinical Oncology (ASCO) Annual Meeting in June. The stock is expected to see upside between 20% and 25% or a downside of 10%.
- SCD data from Group C cohort for Lentiglobin is due mid-2018. The stock is expected to see upside of 20% or downside of 30%.
Shares of Bluebird ended the week at $178.10 apiece, with a consensus price target of $196.24 and a 52-week range of $60.95 to $222.03.
Medicines Co. (NASDAQ: MDCO) has Praluent Phase 3 Odyssey Outcomes data for Inclisiran due in the first half of 2018. The stock is expected to see upside in the range of 15% to 40% or downside of 30%. Shares closed at $27.34, with a consensus price target of $49.18 and a 52-week range of $25.40 to $55.95.
Cellidex Therapeutics Inc. (NASDAQ: CLDX) is looking for Phase 3 data for CDX-011 for its Metric trial in triple negative breast cancer due in the first half of 2018. The stock is expected to see either upside of 300% or downside of 50%. Shares of Cellidex closed trading at $2.84, with a consensus price target of $7.30 and a 52-week trading range of $2.20 to $4.02.
Incyte Corp. (NASDAQ: INCY) expects to see Phase 3 ECHO-301 data for epacadostat plus Keytruda in the first half of 2018. Jefferies did not issue any estimates on the how much upside or downside there may be. Incyte shares traded at $94.71, with a consensus price target of $145.61 and a 52-week range of $92.91 to $153.15.
NewLink Genetics Corp. (NASDAQ: NLNK) is also looking for Phase 3 data in Incyte’s ECHO-301 for its melanoma treatment. The stock is expected to see upside of 200% or downside of 50%. NewLink closed trading at $8.11, with a consensus price target of $23.17 and a 52-week range of $5.90 to $25.17.
Sangamo Therapeutics Inc. (NASDAQ: SGMO) has a couple events due in 2018:
- First in human data for hemophilia A gene therapy is due in the first half of the year. The stock is seen with either see upside of 20% or downside of 20%.
- MPS 2 gene editing programs updates are also expected in the first half of 2018. The stock is expected to see upside of 30% or downside of 20%.
Shares of Sangamo were trading at $16.40, with a consensus price target of $17.33 and a 52-week range of $2.90 to $18.40.
24/7 Wall St.Ignyta Inc. (NASDAQ: RXDX) anticipates seeing topline data for entrectinib in tropomyosin receptor kinase fusion in the first half of 2018. The stock is expected to see either upside of 25% or downside of 15%. Shares of Ignyta were trading at $26.70, with a consensus price target of $28.00 and a 52-week range of $4.60 to $26.85.
Spark Therapeutics Inc. (NASDAQ: ONCE) has Phase 1/2 hemophilia A data for SPK-8011 due mid-2018. Upside in the range of 20% to 50% or downside between 25% and 50% is expected. Shares of Spark were last seen at $51.42, with a consensus price target of $73.18 and a 52-week range of $41.06 to $91.75.
Celgene Corp. (NASDAQ: CELG) has Phase 3 MDS and beta-thalassemia data for luspatercept due in mid-2018. The stock is expected to see upside of 3% to 7% or downside of 5% to 7%. Celgene shares closed trading at $104.36, with a consensus analyst target of $123.28 and a 52-week range of $94.55 to $147.17.
FibroGen Inc. (NASDAQ: FGEN) is expecting MACE CV results for roxadustal by mid-2018. The stock is expected to see either upside of 50% to 100% or downside of 50% to 75%. FibroGen was trading at $47.40, with a consensus price target of $67.67. The 52-week range is $20.85 to $60.15.
DBV Technologies S.A. (NASDAQ: DBVT) is looking for its Biologistics License Application (BLA) for Viaskin Peanut to be accepted by the FDA in mid-2018. The stock is expected to see upside of 100% or downside of 80%. Shares ended trading on Friday at $24.60, with a 52-week range of $20.58 to $50.57 and a consensus price target of $37.88.
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