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Why This Analyst Has 'Little Conviction' On CRISPR's Upcoming Trial Data
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Masimo Posts Better Than Expected Q1 Earnings Despite 'Unexpected' Supply Chain Issues
Masimo Corp's (NASDAQ:MASI) Q1 revenue increased 1.7% Y/Y (+3.2% on a constant currency basis) to $304.2 million, beating the consensus of $303.83 million.…
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Mizuho Sees Relief For This Small-Cap Stock After Patent Legal Overhang Lifted

By Vandana Singh
  • The US Patent Trial and Appeal Board (PTAB) issued a final written decision in favor of Concert Pharmaceuticals Inc (NASDAQ:CNCE) regarding the post-grant review (PGR) for the '659 method-of-use patent. 
  • The '659 patent claims methods of treating hair loss, including alopecia areata with certain doses of CTP-543, a deuterated form of ruxolitinib, JAK 1/2 inhibitor, being marketed by Incyte Corporation (NASDAQ: INCY).
  • The patent expires in 2037.
  • PTAB upholds all of the challenged claims of the '659 patent, concluding that Incyte failed to demonstrate by a preponderance of the evidence that the challenged claims of the '659 patent were not patentable. 
  • Mizuho says the favorable ruling should provide relief for investors and some support behind CNCE shares.
  • The analysts reiterated the price target to $9 with a Buy rating.
  • Separate from the PGR relating to the '659 patent, the interference proceedings regarding the '149 patent are continuing.
  • The analysts continue to assume a settlement can be reached between Concert and Incyte, especially given that Concert secured a favorable ruling on the '659 patent.
  • They believe Concert could pay Incyte a reasonable royalty (currently model ~10% of net sales) to launch and commercialize CTP-543.
  • Price Action: CNCE shares are up 10.7% at $3.82 during the market session on the last check Friday.
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Dive Deeper:
Why This Analyst Has 'Little Conviction' On CRISPR's Upcoming Trial Data
RBC Capital Markets says it remains on the sidelines given commercial uptake for CRISPR Therapeutics' (NASDAQ: CRSP) sickle cell disease (SCD)/beta-thalassemia (BT) capped…
Russia-Ukraine war: Joe Biden expresses support for right of Finland and Sweden to join Nato– as it happened
Ukraine president ready to speak to Putin ‘but only to him’; electricity supplier RAO Nordic says decision to suspend Finnish…
What's Going On With Chorus Aviation Shares Today
Chorus Aviation Inc (TSX:CHR) (OTC:CHRRF) price target was raised to C$5 from C$4.75 by RBC Capital analyst Walter Spracklin. The analyst maintained the Outperform rating…
Analysts Expect Clarity Imminent On Intercept's NASH Story
RBC Capital Markets writes that following the Advanz deal, Intercept Pharmaceuticals Inc (NASDAQ:ICPT) should be well-capitalized into make-or-break upcoming readouts for obeticholic acid…
One subscription that gives you access to news from hundreds of sites
Read How Analysts Reacted To Paycom Software's Q1 Results
Analysts reiterated their ratings on Paycom Software, Inc (NYSE:PAYC) post Q1 results. Needham analyst Ryan MacDonald reiterated the Buy rating and $450 price target on Paycom…
Masimo Posts Better Than Expected Q1 Earnings Despite 'Unexpected' Supply Chain Issues
Masimo Corp's (NASDAQ:MASI) Q1 revenue increased 1.7% Y/Y (+3.2% on a constant currency basis) to $304.2 million, beating the consensus of $303.83 million.…
Get all your news in one place