Top Pick of the Day: OPK

Opko Health Inc. (OPK) announced inking a commitment letter with Veterans Accountable Care Group, LLC. The collaboration is related to a Veterans Health Administration (VHA) contract. If the bid turns out to be successful then Opko will acquire a 15% stake in VACO. It will also provide a $50 million line of credit for VACG. The line of credit will help in satisfying the financial stability requirement of the contract.
The company stock is currently trading close to its 52 weeks low after losing 41 percent of its value in the past 12 months.

Focus Ticker: GMED

Globus Medical Inc. (GMED) stock perked up as the company announced receiving the 510 (k) clearance from the FDA for Excelsius GPS, its robotic guidance and navigation system. This product is aims to minimize radiation exposure, streamline workflow and reproducibly assist in implant placement. It seamlessly integrates Globus Medical implants and instruments and is compatible with pre-operative CT, intra-operative CT and fluoroscopic imaging modalities.
The company stock had positive reaction to the news. It is currently 22 percent up on Year to Date basis while its 12 months gain stands at 31 percent.

Sector News

Tetraphase Pharmaceuticals (TTPH) announced that the European Medicines Agency (EMA) has validated its marketing application seeking approval for IV eravacycline for the treatment of complicated intra-abdominal infections. The company plans to file its marketing application in the U.S. in the first quarter of 2018.

Biocept (BIOC) announced its new collaboration with the University of Texas Southwestern Medical Center. The deal will entail a study assessing the clinical utility of its Target Selector platform for patients with ALK-positive non-small cell lung cancer (NSCLC) who are being treated with an ALK inhibitor, among other developments.

Approvals

AstraZeneca (AZN) announced receiving the FDA approval for its  Lynparza (olaparib) for the second-line maintenance treatment of ovarian cancer that is responsive to platinum-based chemo. The drug is already approved in the US for treating patients with ovarian cancer, who have received at least three prior lines of chemo.

Pfizer (PFE) reported that the FDA has approved its Besponsa (inotuzumab ozogamicin) for the treatment of adults with relapsed/refractory B-cell precursor acute lymphoblastic leukemia. Inotuzumab ozogamicin is an antibody-drug conjugate comprised of a monoclonal antibody which targets CD22.

Deals and Collaborations

Fluidigm (FLDM) signed a new deal with Baylor Genetics pertaining the commercialization rights to its CFTR library prep assay for research use with the automated Juno microfluidic system. The companies did not disclose the financial terms of the collaboration.

Amgen (AMGN) announced its new collaboration with Humana (HUM). The deal pertains to identifying opportunities to improve efficiency and results by studying real-world data on serious conditions such as osteoporosis, inflammatory diseases and cardiovascular disease.

Analyst Ratings

Brokerage Action Company Rating Price Target

Cantor Fitzgerald Set Price Target Heron Therapeutics (HRTX) - Buy $31.00

Oppenheimer Holdings Set Price Target Lion Biotechnologies (IOVA) - Buy $13.00

Deutsche Bank AG Upgrades Myriad Genetics (MYGN) - Sell -> Hold

Wedbush Reiterates Omeros Corporation (OMER) - Outperform $47.00