Skip to main content
Premium Trial:

Request an Annual Quote

RW Baird Starts Coverage of BG Medicine

By a GenomeWeb Staff Reporter

NEW YORK (GenomeWeb News) – Investment firm RW Baird today initiated coverage of BG Medicine with an "Outperform" rating and a target price of $12 per share.

In a research note, analyst Quintin Lai wrote that the Waltham, Mass.-based developer of protein marker tests has demonstrated progress in its business, securing clearance with the US Food and Drug Administration in November for its Galectin-3 test for heart failure. Laboratory Corporation of America markets the test in the US.

The firm also has entered into partnerships with Abbott, Siemens, Alere, and BioMérieux to develop an automated test, Lai noted, adding that such IVD instrument manufacturers have large and mature installed bases and expertise in adding new biomarkers to their platform, which could speed up adoption of the test.

He added that the partners are in the process of preparing 510(k) submissions to the FDA to add Galectin-3 to their installed bases of automated immunoassay instruments.

Lastly, Lai noted that BG Medicine has developed AMIPredict, a panel of protein biomarkers "that have shown promise in improving risk assessment screening for acute atherothrombosis versus the current Framingham Risk Score." Preliminary data suggests AMIPredict may be a better predictor of high-risk individuals and low-risk individuals "with fewer ambiguous medium-risk callouts."

BG Medicine expects to file AMIPredict for 510(k) clearance as a service later this year, he said.

BG Medicine, which went public last month, will release its fourth-quarter earnings today after the close of the market.

In early morning trading, shares of BG Medicine were up more than 4 percent on the Nasdaq at $8.06.

The Scan

Transcriptomic, Epigenetic Study Appears to Explain Anti-Viral Effects of TB Vaccine

Researchers report in Science Advances on an interferon signature and long-term shifts in monocyte cell DNA methylation in Bacille Calmette-Guérin-vaccinated infant samples.

DNA Storage Method Taps Into Gene Editing Technology

With a dual-plasmid system informed by gene editing, researchers re-wrote DNA sequences in E. coli to store Charles Dickens prose over hundreds of generations, as they recount in Science Advances.

Researchers Model Microbiome Dynamics in Effort to Understand Chronic Human Conditions

Investigators demonstrate in PLOS Computational Biology a computational method for following microbiome dynamics in the absence of longitudinally collected samples.

New Study Highlights Role of Genetics in ADHD

Researchers report in Nature Genetics on differences in genetic architecture between ADHD affecting children versus ADHD that persists into adulthood or is diagnosed in adults.