Seeking Alpha • Oct 03
LogicBio jumps 648% on buyout deal with AstraZeneca unit Alexion LogicBio (NASDAQ:LOGC) gained ~648% pre-market Monday after Alexion, a unit of AstraZeneca (NASDAQ:AZN) announced an agreement to acquire the U.S.-based genetic medicine company for $2.07 per share in cash.
The Lexington, MA company boasts a genome editing platform, and an adeno-associated virus (AAV)-based gene delivery platform.
"The proposed acquisition of LogicBio is a significant development for our growing research in genomic medicine,” remarked Marc Dunoyer, Chief Executive of Alexion, U.S.-based rare disease focused company that AZN acquired in 2021.
Per the terms, an Alexion subsidiary will start a tender offer to acquire all outstanding shares of LOGC. Boards of both companies have approved the transaction which is expected to close in 4 – 6 weeks.
The deal is likely to draw attention to gene editing companies such as CRISPR Therapeutics (CRSP), Intellia Therapeutics (NTLA), Beam Therapeutics (BEAM), Editas Medicine (EDIT), Apellis Pharmaceuticals (APLS), and Verve Therapeutics (VERV)
Gene therapy companies including bluebird bio (BLUE), uniQure N.V. (QURE), BioMarin Pharmaceutical (BMRN), Sarepta Therapeutics (SRPT), REGENXBIO (RGNX) and Iovance Biotherapeutics (IOVA) are also likely to gain attention.
Read about how U.S. biotech/ pharma stocks performed in Q3. Reported Earnings • Aug 16
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: US$0.15 loss per share (up from US$0.33 loss in 2Q 2021). Revenue: US$3.20m (up 299% from 2Q 2021). Net loss: US$5.04m (loss narrowed 52% from 2Q 2021). Revenue exceeded analyst estimates by 255%. Earnings per share (EPS) also surpassed analyst estimates by 38%. Over the next year, revenue is expected to shrink by 65% compared to a 41% growth forecast for the Biotechs industry in the US. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 62% per year, which means it is significantly lagging earnings. Price Target Changed • May 19
Price target decreased to US$3.00 Down from US$6.75, the current price target is an average from 2 analysts. New target price is 600% above last closing price of US$0.43. Stock is down 90% over the past year. The company is forecast to post a net loss per share of US$0.94 next year compared to a net loss per share of US$1.24 last year. Price Target Changed • May 17
Price target increased to US$7.67 Up from US$6.50, the current price target is an average from 2 analysts. New target price is 1,704% above last closing price of US$0.42. Stock is down 91% over the past year. The company is forecast to post a net loss per share of US$1.18 next year compared to a net loss per share of US$1.24 last year. Reported Earnings • May 16
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: US$0.20 loss per share (up from US$0.32 loss in 1Q 2021). Revenue: US$2.82m (up US$2.36m from 1Q 2021). Net loss: US$6.66m (loss narrowed 35% from 1Q 2021). Revenue exceeded analyst estimates by 213%. Earnings per share (EPS) also surpassed analyst estimates by 31%. Over the next year, revenue is expected to shrink by 83% compared to a 31% growth forecast for the industry in the US. Price Target Changed • Apr 27
Price target decreased to US$6.50 Down from US$8.00, the current price target is an average from 2 analysts. New target price is 1,354% above last closing price of US$0.45. Stock is down 93% over the past year. The company is forecast to post a net loss per share of US$1.39 next year compared to a net loss per share of US$1.24 last year. Breakeven Date Change • Apr 27
No longer forecast to breakeven The 2 analysts covering LogicBio Therapeutics no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$22.5m in 2024. New consensus forecast suggests the company will make a loss of US$64.7m in 2024. Price Target Changed • Mar 10
Price target decreased to US$6.50 Down from US$8.00, the current price target is an average from 2 analysts. New target price is 716% above last closing price of US$0.80. Stock is down 90% over the past year. The company is forecast to post a net loss per share of US$1.23 next year compared to a net loss per share of US$1.24 last year. Breakeven Date Change • Mar 06
No longer forecast to breakeven The 2 analysts covering LogicBio Therapeutics no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$22.5m in 2024. New consensus forecast suggests the company will make a loss of US$64.7m in 2024. Price Target Changed • Feb 03
Price target decreased to US$12.20 Down from US$14.20, the current price target is an average from 2 analysts. New target price is 1,701% above last closing price of US$0.68. Stock is down 92% over the past year. The company is forecast to post a net loss per share of US$1.31 next year compared to a net loss per share of US$1.29 last year. Price Target Changed • Nov 18
Price target decreased to US$15.40 Down from US$19.25, the current price target is an average from 3 analysts. New target price is 344% above last closing price of US$3.47. Stock is down 41% over the past year. The company is forecast to post a net loss per share of US$1.30 next year compared to a net loss per share of US$1.29 last year. Reported Earnings • Nov 17
Third quarter 2021 earnings released: US$0.31 loss per share (vs US$0.34 loss in 3Q 2020) Third quarter 2021 results: Net loss: US$10.2m (loss widened 27% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Board Change • Oct 31
High number of new directors Independent Director Jeff Goater was the last director to join the board, commencing their role in 2020. Major Estimate Revision • Aug 17
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from US$6.06m to US$4.80m. EPS estimate unchanged at -US$1.24 per share. Biotechs industry in the US expected to see average net income decline 21% next year. Consensus price target broadly unchanged at US$18.80. Share price was steady at US$4.21 over the past week. Price Target Changed • Aug 12
Price target decreased to US$18.80 Down from US$20.25, the current price target is an average from 3 analysts. New target price is 308% above last closing price of US$4.61. Stock is down 47% over the past year. Reported Earnings • Aug 11
Second quarter 2021 earnings released: US$0.33 loss per share (vs US$0.35 loss in 2Q 2020) Second quarter 2021 results: Net loss: US$10.5m (loss widened 28% from 2Q 2020). Reported Earnings • May 12
First quarter 2021 earnings released: US$0.32 loss per share (vs US$0.41 loss in 1Q 2020) First quarter 2021 results: Net loss: US$10.3m (loss widened 8.7% from 1Q 2020). Major Estimate Revision • May 02
Consensus revenue estimates increase to US$4.53m The consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from US$1.20m to US$4.53m. Forecast losses expected to reduce from -US$1.32 to -US$1.17 per share. Biotechs industry in the US expected to see average net income decline 23% next year. Consensus price target of US$20.25 unchanged from last update. Share price fell 4.3% to US$5.52 over the past week. Price Target Changed • Mar 05
Price target lowered to US$20.25 Down from US$22.00, the current price target is an average from 2 analysts. The new target price is 158% above the current share price of US$7.84. As of last close, the stock is down 12% over the past year. Is New 90 Day High Low • Feb 09
New 90-day high: US$9.16 The company is up 45% from its price of US$6.32 on 10 November 2020. The American market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is up 25% over the same period. Is New 90 Day High Low • Oct 22
New 90-day low: US$5.29 The company is down 39% from its price of US$8.74 on 24 July 2020. The American market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Sep 24
New 90-day low: US$5.41 The company is down 33% from its price of US$8.09 on 26 June 2020. The American market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share.