Guggenheim sees opportunities within neurology, immunology spaces in 2022

Prometheus Biosciences

03/01/2022 12:13

** Brokerage Guggenheim says investors should focus on
neurology/immunology therapeutic categories, as it sees growth
opportunities in the space in 2022
    ** Says R&D investment in the space remains robust; adds
there is continued M&A interest from large biopharma players,
and several companies have near-term potential catalysts in 2022
    ** In Immunology space, its top picks are Argenx SE  ARGX.O 
and Prometheus Biosciences Inc  RXDX.O ; says ARGX's recently
approved autoimmune disorder drug Vyvgart and RXDX's
experimental IBD treatment have best-in-class potential
    ** Brokerage says Horizon Therapeutics  HZNP.O  and Celldex
Therapeutics  CLDX.O  also have catalyst-rich year ahead with
readouts expected from several clinical programs
    ** In neurology, several clinical trial failures and
regulatory delays tempered interest in companies such as Acadia
Pharma  ACAD.O , Axsome Therapeutics  AXSM.O  and BioXcel
Therapeutics  BTAI.O  in 2021, but heading into 2022, tides are
beginning to turn - Guggenheim
    ** Its top pick is Karuna Therapeutics  KRTX.O , which is
expected to report data from late-stage studies of its
schizophrenia candidate
    ** Other companies in neurology space such as SAGE
Therapeutics  SAGE.O , Seelos Therapeutics  SEEL.O , Eliem
Therapeutics  ELYM.O  and Relmada  RLMD.O  will also report data
from several clinical programs while Biogen  BIIB.O  is looking
forward to the National Coverage Determination for its
Alzheimer's disease drug aducanumab from CMS - brokerage
    
 Company                   New PT      Old PT
 Argenx SE                 $390        $330
 Biogen                    $290        $340
 BioXcel Therapeutics      $45         $48
 EyePoint Pharma  EYPT.O   $65         $75
 Global Blood              $40         $44
 Therapeutics  GBT.O                   
 Phathom Pharma  PHAT.O    $50         $70
 Relmada Therapeutics      $52         $60
 
 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))