©Reuters. Wolfe Research Begins Biotechnology and Names Alpine Immune Sciences as a Top Pick
Wolfe Research initiated coverage of the biotechnology sector, selecting 13 companies with a thematic focus on immunology and genetic medicines.
Six of these stocks were rated Peer Perform by Wolfe analysts, including Alpine Immune Sciences (NASDAQ:), which is also their top pick.
“ALPN will have a catalyst-rich 2024, where we expect favorable readings on IgA nephropathy (IgAN) in H1 and H2 and positive readings from Vera’s Wk96 data in Q4,” the analysts wrote in the note.
“Our belief comes from the reduced-risk BAFF/APRIL mechanism, with Vera’s Wk72 data validating its efficacy across multiple endpoints. Compared to competitors, povetacicpet has a superior clinical profile with dosing convenience and we are optimistic towards clinical readouts in 2024.”
Furthermore, the expected clinical results of HELIOS-B are expected around March/April 2024.
HELIOS-B is an investigational study evaluating vutrisiran for the treatment of cardiomyopathy in patients with ATTR amyloidosis. The developments of this trial will be carefully monitored by investors.
“We are optimistic about the success of HELIOS-B, but failure could be catastrophic for ALNY. The success of the trial does not represent a disproportionate benefit for ALNY either, because much of the revenue may already be priced in and we expect a competitive cardiomyopathy market,” the analysts said.
In addition to Alpine, six other stocks were initiated to Outperform at Wolfe, including Immunovant, Inc. (NASDAQ:), Insmed Incorporated (NASDAQ:), Molecular Templates, Inc. (MLTX), I, Roivant Sciences Ltd. (NASDAQ:), Vertex Pharmaceuticals Incorporated (NASDAQ:), and RAPT Therapeutics, Inc. (NASDAQ:).
On the other hand, Alnylam Pharmaceuticals (ALNY), argenx SE (ARGX), CRISPR Therapeutics AG (CRSP), Ionis Pharmaceuticals, Inc. (NASDAQ:), Kymera Therapeutics, Inc. (KYMR), and Intellia Therapeutics, Inc. (NASDAQ: 🙂 have been Peer Perform rated.