Novartis: Bryan Garnier raises target after CAR-T success.
(CercleFinance.com) - Bryan Garnier, which has a "buy" rating on Novartis, has raised its target price for the share from 90 Swiss francs to 92 Swiss francs after the company made history with the first-ever CAR-T cell therapy approved by the FDA.
The US health regulator yesterday approved Novartis' CAR-T cell therapy for the treatment of B-cell acute lymphoblastic leukemia in children and young adults.
This approval - which was not expected before October - is excellent news for Novartis, which is officially the first entrant in the CAR-T field, Bryan Garnier says.
The brokerage firm also thinks that the approval is likely to reassure other CAR-T players about the potential approval of their own candidate drugs and constitutes a major milestone for the entire CAR-T field.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The US health regulator yesterday approved Novartis' CAR-T cell therapy for the treatment of B-cell acute lymphoblastic leukemia in children and young adults.
This approval - which was not expected before October - is excellent news for Novartis, which is officially the first entrant in the CAR-T field, Bryan Garnier says.
The brokerage firm also thinks that the approval is likely to reassure other CAR-T players about the potential approval of their own candidate drugs and constitutes a major milestone for the entire CAR-T field.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.