GBA CELEBRATES PSORIASIS DAY-! DICE Bio is working on psoriasis and ARQT is working on psoriasis and I Have IT! Arcutis Biotherapeutics initiated with a Buy at Needham 07:17 ARQT Needham analyst Serge Belanger initiated coverage of Arcutis Biotherapeutics with a Buy rating and $46 price target. The company is a pure-play commercial-stage dermatology entity focused on novel topical therapies designed to address unmet needs for the most common skin diseases, the analyst tells investors in a research note. Arcutis' Zoryve also recently received FDA approval for psoriasis and demonstrated all the major attributes - convenience, efficacy and safety/tolerability - in order to become a blockbuster product by transforming the long-neglected category of topical derm therapies serving about 90% of subjects with skin diseases, Belanger adds.
Bicycle Therapeutics announces BT5528 Phase I dose escalation results 07:16 BCYC Bicycle Therapeutics announced Phase I dose escalation top-line results from its Phase I/II trial of BT5528, a BTC targeting EphA2, in patients with advanced solid tumors. "The therapeutic profile from the dose escalation portion of the Phase I/II trial of BT5528 in patients with late-line disease suggests both differentiated safety and promising activity, most notably in ovarian and urothelial cancers," said Dominic Smethurst, Chief Medical Officer of Bicycle Therapeutics. "Significant safety concerns seen with antibody drug conjugate approaches have limited the ability to effectively address EphA2, a target which correlates with tumor progression and is overexpressed in many cancers. Based on BT5528's promising and differentiated safety profile, we hope to demonstrate the true therapeutic potential of this target, this program and our broader Bicycle Toxin Conjugate platform." I have no idea if this is a positive or negative read out>I think poss- both differentiated safety and promising activity, most notably in ovarian and urothelial cancers, This could of been worded better.
Seres Therapeutics completes rolling submission for SER-109 BLA to FDA 07:06 MCRB Seres Therapeutics announced it has completed the rolling submission process for its biologics license application, or BLA, to the FDA for SER-109 for the prevention of recurrent C. difficile infection, or rCDI. SER-109 is an entirely new treatment modality that shows promise to improve the current standard of care for rCDI. Sprout Social named a Top Pick at Cantor Fitzgerald 06:47 SPT Cantor Fitzgerald analyst Brett Knoblauch named Sprout Social as a Top Pick and made no change to his Overweight rating and $79 price target. Knoblauch believes the market is under-appreciating the duration at which Sprout can grow revenue above 30% and its FCF-generating ability. RF Industries receives $3.5M in follow-on orders 06:45 RFIL RF Industries announced it has received $3.5M of follow-on orders from its newest North American Tier 1 wireless carrier customer at the Company's Cables Unlimited division for its OptiFlex hybrid fiber solution. Kraken Robotics' PanGeo Subsea completes cable depth of burial campaign 06:24 KRKNF Kraken Robotics announces that its PanGeo Subsea subsidiary has completed cable depth of burial surveys along the EstLink 1 and 2 cables during an offshore campaign utilizing PanGeo's SeaKite ROTV equipped with the patented Sub-Bottom Imager. With a strong history in supporting sub-seabed surveys for offshore wind and offshore energy, PanGeo has completed more than 10,000 kilometers of cable DOB surveys to date. PanGeo supported marine survey provider Arctia Meritaito Ltd onboard the research vessel RV Mintis to conduct cable depth of burial along the two interconnector cables that join Finland and Estonia's electrical networks. The 350MW EstLink 1 was installed in 2006 and crosses the 75km wide Gulf of Finland, reaching a maximum water depth of 100m. EstLink 2 is a 650MW, 145km cable installed in 2013 and is ~ 70km east of EstLink 1.
ChargePoint initiated with an Outperform at Credit Suisse 06:03 CHPT Wallbox initiated with an Outperform at Credit Suisse 06:02 WBX Credit Suisse analyst Maheep Mandloi initiated coverage of Wallbox with an Outperform rating and $14 price target. The analyst believes Wallbox benefits from a first-mover advantage in the vehicle-to-home, or V2H, and vehicle-to-grid, or V2G, space with the support of a major utility/investor, growing partnerships, rapidly growing electric vehicle adoption, and an attractive valuation. BIO-key announces EMEA business selected for AuthControl in Saudi Arabia 05:10 BKYI BIO-key announced that its EMEA business has deployed AuthControl Sentry for a Saudi Arabia healthcare procurement provider in Riyadh, Saudi Arabia. The authentication solution will protect approximately 15,000 employee and supplier users with secure Multi-factor, or MFA, access with Single Sign-on, or SSO, capabilities for all of its web and legacy applications. The objective of this project was to centralize all web and legal applications in a unified portal to provide employees and suppliers across the Middle East with secure access to applications. Using the AuthControl Sentry solution will reduce password reset requests by removing the need for authentication to four or five different applications typically required to send a pharmaceutical or medical package through a courier. Jeld-Wen director buys $199K in common stock 16:49 JELD In a regulatory filing, Jeld-Wen disclosed that its director Steven Wynne bought 18K shares of common stock on September 2nd in a total transaction size of $199.2K. Safran upgraded to Conviction Buy from Buy at Goldman Sachs 16:25 SAFRY Goldman Sachs analyst Daniela Costa upgraded Safran to Conviction Buy from Buy with a price target of EUR 150, up from EUR 134. The analyst is positive on the company's "strong" first-half earnings and the better-than-anticipated evolution of Narrow Body traffic outside of China this year. Costa adds that she expects meaningful upgrades to consensus estimates to drive the shares higher in the coming quarters. Fusion Pharmaceuticals initiated with a Buy at JonesTrading 16:24 FUSN JonesTrading analyst Justin Walsh initiated coverage of Fusion Pharmaceuticals with a Buy rating and $10 price target. Fusion is a clinical stage radiopharmaceutical company developing next-generation targeted alpha therapies to treat cancer, Walsh tells investors in a research note. Additionally, the company is developing novel TATs and combination therapies with AstraZeneca, which "provides considerable validation for the company's technology," says the analyst. Guidewire sees FY23 revenue $885M-$895M, consensus $882.23M 16:17 GWRE Sees FY23 ARR $745M-$760M. Stem initiated with an Outperform at Northland 07:38 STEM Northland analyst Abhishek Sinha initiated coverage of Stem with an Outperform rating and $24 price target. Ladenburg starts 'unique and growing' Bridgeline Digital with a Buy 07:08 BLIN As previously reported, Ladenburg analyst Jon Hickman initiated coverage of Bridgeline Digital with a Buy rating and $4.50 price target. Bridgeline is a "relatively small participant" in the marketing technology software market space, but has positioned itself as "a complete, go-to eCommerce solution for brand marketers," Hickman tells investors. Bridgeline now has a suite of eight apps and is gaining increased market acceptance with the addition of new subscribers every quarter, said Hickman, who estimates revenues to increase more than 27% year-over-year in FY22 and grow organically above 10% in FY23.
Pinterest upgraded to Outperform from Peer Perform at Wolfe Research 05:27 PINS Wolfe Research analyst Deepak Mathivanan upgraded Pinterest to Outperform from Peer Perform with a $28 price target. The analyst believes the company has "significant runway" on both user growth and monetization over the long-term. In addition, Pinterest's pace of execution and progress on its long-term initiatives "should improve nicely" under new CEO Bill Ready, and the stock has "several positive catalysts" ahead including monthly active user growth, margin expansion, and product launches, Mathivanan tells investors in a research note. The analyst also sees a strategic takeover as a potential outcome for shares should the company's execution lag over next several quarters given the activist involvement. Overall, he thinks the stock's risk/reward "skews positively at current levels."