BofA initiates coverage on IMMX with a Buy rating and $27 price target. RBC starts PRAX with Outperform ($449 PT), while Cantor begins coverage on RNA. Morgan Stanley downgrades ENGN to Underweight.
FDA may pick Dr. Hemmati to lead CBER, which could speed up vaccine and biotech drug approvals, but decision is not final.
Wells Fargo analyst initiates coverage on Atrium Therapeutics with Overweight rating and $25 price target, highlighting big potential in RNA therapies for rare genetic heart diseases with no current treatments.
Novartis acquires Avidity Biosciences for $12 billion, gaining access to breakthrough RNA therapeutics for neuromuscular diseases as the Swiss drugmaker prepares for upcoming patent expirations on key drugs.
Novartis targets rare disease biotech Avidity Biosciences in a $4.3B takeover bid, aiming to boost its pipeline and offset major patent cliffs.
