Atara, Inflarx are JPMorgan's top-picks among small biotechs

Inflarx NV

23/01/2019 16:27

** Atara Biotherapeutics  ATRA.O  and Inflarx NV  IFRX.O 
are JPMorgan's top picks among small and mid-cap U.S. biotechs
    ** JPMorgan also downgrades Apellis Pharma  APLS.O , Eidos
Therapeutics  EIDX.O , G1 Therapeutics  GTHX.O , Neurocrine
Biosciences  NBIX.O  and Replimune Group Inc  REPL.O  to
"neutral from "overweight"
    ** Upgrades La Jolla Pharmaceutical Co  LJPC.O  to "neutral"
from "underweight," citing potential for upside based on
LJPC-401 mid-stage study data expected in H2 2019
    ** APLS and EIDX slip ~6 pct each, La Jolla gains as much as
5 pct
    ** JPMorgan also downgrades Dova Pharmaceuticals  DOVA.O  to
"underweight" from "overweight," predicting its shares to
underperform in H1 2019 as new management puts Doptelet
marketing strategy into place; cuts PT to $20 from $34
    ** S&P 500 biotechnology sub index  .SPLRCTKBI  has gained
8.3 pct so far this year       
 Company          JPMorgan     Current    Previous
                  Rating       Price      Price
                               Target     Target
 Apellis          Neutral      $34        $34
  APLS.O                                  
 Eidos            Neutral      $29        $29
  EIDX.O                                  
 G1 Therapeutics  Neutral      $41        $59
  GTHX.O                                  
 Neurocrine       Neutral      $100       $97
  NBIX.O                                  
 Replimune        Neutral      $26        $26
  REPL.O                                  
 La Jolla         Neutral      $9         $18
  LJPC.O                                  
 Dova             Underweight  $20        $34
 Pharmaceuticals                          
  DOVA.O                                  
 
 (Reporting by Manogna Maddipatla)
 ((Reuters Messaging:
manojna.kalyani.thomsonreuters.com@reuters.net))