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GILD

Gilead

$79.12

1.26 (1.62%)

, MRK

Merck

$62.41

0.5 (0.81%)

07:47
10/03/16
10/03
07:47
10/03/16
07:47

AASLD abstracts hint at potential competitive threat to Gilead HCV, says Leerink

Leerink analyst Geoffrey Porges says abstracts for the American Association for the Study of Liver Diseases, or AASLD, meeting revealed very limited efficacy information about the new Hepatitis C regimens for Gilead (GILD), Merck (MRK) and AbbVie (ABBV). Nonetheless, the analyst believes the abstracts hint at the potential competitive threat to Gilead's HCV dominance. While the new 12-week HCV regimens may compete on price, the forthcoming 8-week regimens put the most pressure on Gilead's market share, Porges argues. He reiterates a Market Perform rating on Gilead's shares.

GILD

Gilead

$79.12

1.26 (1.62%)

MRK

Merck

$62.41

0.5 (0.81%)

ABBV

AbbVie

$63.07

0.25 (0.40%)

  • 04

    Oct

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    Oct

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    Oct

  • 06

    Nov

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    Nov

GILD Gilead
$79.12

1.26 (1.62%)

09/27/16
LEER
09/27/16
DOWNGRADE
Target $94
LEER
Market Perform
Gilead downgraded to Market Perform from Outperform at Leerink
Leerink analyst Geoffrey Porges downgraded Gilead Sciences to Market Perform from Outperform and lowered his price target for the shares to $94 from $112. The biotech closed yesterday down 75c to $80.62. The analyst says he's now "outright bearish" on the company's Hepatitis C virus business. Gilead's HCV revenues will "decline faster, and farther," than the current consensus estimates forecast, Porges tells investors in a research note.
09/22/16
JANY
09/22/16
NO CHANGE
Target $64
JANY
Buy
Galapagos drug more important to Gilead after trial halt, says Janney Capital
Janney Capital analyst Debjit Chattopadhyay said Gilead Sciences' (GILD) termination of its combined Phase 2/3 study of GS-5745 in ulcerative colitis implies that Galapagos (GLPG) filgotinib is now potentially more important to Gilead's growth prospects. The analyst, who thinks upcoming data could provide meaningful upside for Galapagos shares even after the stock's 25% move up over the past three weeks, keeps a Buy rating and $64 fair value estimate on the stock.
09/22/16
LEER
09/22/16
NO CHANGE
LEER
Outperform
Gilead trial suspension another blow to R&D strategy, says Leerink
Leerink analyst Geoffrey Porges believes Gilead's suspension of Phase 2/3 for GS-5745, its anti-matrix metalloproteinase 9 anti-body for the treatment of ulcerative colitis, is unlikely to significantly impact revenue forecasts for the company. However, he sees the announcement as another blow to the sentiment about the company's R&D prospects and investor sentiment. Further, Porges notes that GS-5745 was one of the five proof-of-concept molecules in Phase 2 development that offered opportunity for some offset to Gilead's "increasingly challenged" core businesses. He reiterates an Outperform rating on the shares.
09/27/16
09/27/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Gilead (GILD) downgraded to Market Perform from Outperform at Leerink with analyst Geoffrey Porges saying he's now "outright bearish" on the company's Hepatitis C virus business. 2. J.M. Smucker (SJM) downgraded to Neutral from Outperform at Credit Suisse with analyst Robert Moskow saying that while the company raised its cost savings target as expected, he underestimated the hit to sales from difficult comparisons. 3. Discovery (DISCA) and Scripps Networks (SNI) downgraded to Sell from Neutral at MoffettNathanson. 4. Carter's (CRI) downgraded to Market Perform from Outperform at Wells Fargo with analyst Ike Boruchow saying his quarter-to-date store checks indicate "choppy" retail traffic trends and "deeper" pricing/promotional pressure. 5. Dollar Tree (DLTR) downgraded to Underweight from Neutral at Atlantic Equities with analyst Sam Hudson saying the second half comp inflection expected by consensus is "too demanding" and he expects multiple contraction if Family Dollar does not turn around. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
MRK Merck
$62.41

0.5 (0.81%)

09/21/16
FBCO
09/21/16
UPGRADE
Target $41
FBCO
Outperform
Clovis upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse analyst Kennen MacKay upgraded Clovis Oncology (CLVS) to Outperform and raised his price target for the shares to $41 from $19. Clovis closed yesterday up 13%, or $3.92, to $34.83. The potential for a takeover "outweighs concerns surrounding patent life, limited experience in platinum resistant/refractory patients, and PARPi competition," MacKay tells investors in a research note. Clovis could be worth $35-$41 per share in a buyout on operational synergies, and $52-$55 per share with leveraged tax benefits, MacKay estimates. He points out that Eli Lilly (Lill)y, Merck (MRK), Japan's Takeda and others have expressed interest in acquiring U.S. oncology companies.
08/15/16
BERN
08/15/16
NO CHANGE
BERN
Survey of MDs suggest Merck's Keytruda being underestimated, says Bernstein
After Bernstein surveyed a total of 79 U.S. and EU doctors, analyst Tim Anderson says the impact of recent trials of Merck's (MRK) Keytruda and Bristol-Myers' (BMY) Opdivo will be "greater than many (investors) expect." Anderson says that the survey indicates that the positive implications on Merck and the negative impact on Bristol-Myers will not just be "a near-term phenomenon." The analyst continues to expect the impact of the recent data to be greater than the consensus outlook. He keeps a $74 price target and Outperform rating on Merck and a Market Perform rating on Bristol-Myers.
08/19/16
UBSW
08/19/16
NO CHANGE
Target $70
UBSW
Buy
Merck price target raised to $70 from $62 at UBS
UBS analyst Marc Goodman raised his price target on Merck (MRK) to $70 from $62 as he updated his model to account for a more favorable Keytruda opportunity following the failed CheckMate-026 trial at Bristol-Myers (BMY). The analyst also feels investors do not give enough credit to Merck's Januvia franchise or the potential for growth opportunity from the pipeline. Goodman reiterated his Buy rating on Merck shares.
09/27/16
PIPR
09/27/16
NO CHANGE
Target $62
PIPR
Neutral
Bristol-Myers price target lowered to $62 from $65 at Piper Jaffray
Piper Jaffray analyst Richard Purkiss lowered his price target for Bristol-Myers Squibb (BMY) to $62 saying he sees the company ceding Opdivo's early-mover advantage in lung cancer to competitors. The analyst expects to see details from Roche's (RHHBY) positive OAK trial of Tecentriq vs. docetaxel in non-small cell lung cancer at the upcoming ESMO meeting. Purkiss also expects to see details from Merck's (MRK) positive KEYNOTE-024 trial of Keytruda. The analyst lowered his post-2016 Opdivo forecasts and reiterates a Neutral rating on Bristol shares.
ABBV AbbVie
$63.07

0.25 (0.40%)

09/08/16
JPMS
09/08/16
DOWNGRADE
Target $73
JPMS
Neutral
AbbVie downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Chris Schott downgraded AbbVie (ABBV) to Neutral citing the stock's 10% rally year-to-date and limited near-term catalysts. AbbVie's profile is now better reflected at current valuation levels, Schott tells investors in a research note. He lowered his price target for the shares to $73 from $75. The analyst coupled the downgrade with an upgrade this morning of Eli Lilly (LLY) to Overweight.
09/02/16
09/02/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. AbbVie (ABBV) initiated with an Outperform at Raymond James. 2. Spark Therapeutics (ONCE) initiated with a Buy at Stifel. 3. Cornerstone OnDemand (CSOD) initiated with an Overweight at Piper Jaffray. 4. UR-Energy (URG) initiated with an Outperform at FBR Capital. 5. Energy Transfer Equity (ETE) reinstated with an Overweight at JPMorgan. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/01/16
RAJA
09/01/16
INITIATION
Target $82
RAJA
Outperform
AbbVie initiated with an Outperform at Raymond James
Target $82.
07/14/16
JEFF
07/14/16
NO CHANGE
JEFF
AbbVie remains Jefferies' Top Pick in Global Pharma
Jefferies analyst Jeffrey Holford says AbbVie (ABBV) remains his firm's Top Pick in Global Pharmaceuticals, followed by Eli Lilly (LLY), Novartis (NVS), GlaxoSmithKline (GSK) and Zoetis (ZTS). The analyst this morning upgraded GSK to Buy from Hold. Holford also remains positive on Roche (RHHBY), Abbott (ABT) and Pfizer (PFE). The analyst's least preferred names are Novo Nordisk (NVO), Johnson & Johnson (JNJ) and Merck (MRK). The Q2 earnings season offers "few clear beat and raise" stories and looks weakest for AstraZeneca (AZN) against preliminary consensus, Holford tells investors in a pre-earnings research note.

TODAY'S FREE FLY STORIES

VNCE

Vince Holding

$4.55

0.35 (8.33%)

20:25
12/07/16
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20:25
Earnings
Notable companies reporting before tomorrow's open »

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NWBO

Northwest Biotherapeutics

$0.55

0.0227 (4.33%)

20:17
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Hot Stocks
Northwest Biotherapeutics to delist from Nasdaq, confirms clinical trial plans »

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AAPL

Apple

$111.03

1.08 (0.98%)

, MSFT

Microsoft

$61.37

1.42 (2.37%)

20:07
12/07/16
12/07
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20:07
Periodicals
NHL in negotiations to bring Apple devices to team benches, TSN says »

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AAPL

Apple

$111.03

1.08 (0.98%)

MSFT

Microsoft

$61.37

1.42 (2.37%)

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ATKR

Atkore

$19.71

-0.11 (-0.55%)

19:59
12/07/16
12/07
19:59
12/07/16
19:59
Syndicate
Atkore 8M share Secondary priced at $19.00 »

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  • 08

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BPMC

Blueprint Medicines

$26.20

-2.23 (-7.84%)

19:58
12/07/16
12/07
19:58
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19:58
Syndicate
Blueprint Medicines 5M share Secondary priced at $25.00 »

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  • 08

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LULU

lululemon

$59.84

2.6 (4.54%)

19:50
12/07/16
12/07
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19:50
Hot Stocks
lululemon CFO says early Q4 trends strengthened into December »

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LULU

lululemon

$59.84

2.6 (4.54%)

19:50
12/07/16
12/07
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19:50
Hot Stocks
lululemon CEO highlights Q3 gross margin, reports 11% comp growth in pants »

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CVX

Chevron

$114.44

1.68 (1.49%)

19:20
12/07/16
12/07
19:20
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19:20
Hot Stocks
Chevron announces $19.8B capital, exploratory budget for 2017 »

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  • 13

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X

U.S. Steel

$37.49

1.54 (4.28%)

18:49
12/07/16
12/07
18:49
12/07/16
18:49
Periodicals
U.S. Steel CEO: Company may bring back 10,000 U.S. jobs, CNBC says »

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VNDA

Vanda

$15.40

-0.6 (-3.75%)

18:47
12/07/16
12/07
18:47
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18:47
Hot Stocks
Vanda settles Fanapt patent litigation with Apotex »

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AE

Adams Resources

$42.31

-0.68 (-1.58%)

, SWN

Southwestern Energy

$12.37

-0.08 (-0.64%)

18:46
12/07/16
12/07
18:46
12/07/16
18:46
Hot Stocks
Adams Resources appoints Josh Anders as CFO »

Adams Resources &…

AE

Adams Resources

$42.31

-0.68 (-1.58%)

SWN

Southwestern Energy

$12.37

-0.08 (-0.64%)

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EZPW

EZCORP

$11.80

0.05 (0.43%)

18:42
12/07/16
12/07
18:42
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18:42
Earnings
EZCORP reports Q4 EPS with items (31c), may not compare to consensus 6c »

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  • 08

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RICE

Rice Energy

$24.59

-0.16 (-0.65%)

18:33
12/07/16
12/07
18:33
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18:33
Initiation
Rice Energy initiated  »

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AMZN

Amazon.com

$770.42

5.7 (0.75%)

18:30
12/07/16
12/07
18:30
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18:30
Periodicals
Amazon spokesperson denies 2,000 grocery stores report, CNET says »

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ICON

Iconix Brand

$9.26

0.14 (1.54%)

18:23
12/07/16
12/07
18:23
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18:23
Hot Stocks
Iconix Brand reports employment termination of Chief Strategy Officer Blumberg »

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PBYI

Puma Biotechnology

$39.80

-2 (-4.78%)

18:23
12/07/16
12/07
18:23
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18:23
Hot Stocks
Puma Biotechnology 'pleased' to complete biomarker analysis of neratinib »

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FTK

Flotek

$11.10

-2.01 (-15.33%)

18:17
12/07/16
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Hot Stocks
Flotek: Reviewing FourWorld Capital short report, remain confident in product »

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PBYI

Puma Biotechnology

$39.80

-2 (-4.78%)

18:09
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Hot Stocks
Puma Biotechnology 'pleased' with preliminary neratinib activity »

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PNM

PNM Resources

$32.05

0.45 (1.42%)

18:09
12/07/16
12/07
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18:09
Hot Stocks
PNM Resources requests an electric rate increase of $99M in New Mexico »

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  • 14

    Dec

BK

BNY Mellon

$48.55

0.56 (1.17%)

18:03
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12/07
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18:03
Periodicals
BNY Mellon outage led to certain Swift payment failures, WSJ reports »

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TLRD

Tailored Brands

$18.93

0.62 (3.39%)

17:52
12/07/16
12/07
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17:52
Hot Stocks
Tailored Brands up 22% to $23.20 after Q3 results beat estimates »

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  • 08

    Dec

FLXS

Flexsteel Industries

$59.12

2.92 (5.20%)

, UNH

UnitedHealth

$159.40

2.08 (1.32%)

17:50
12/07/16
12/07
17:50
12/07/16
17:50
Hot Stocks
Flexsteel names Eric Rangen chair of the board »

Flexsteel Industries…

FLXS

Flexsteel Industries

$59.12

2.92 (5.20%)

UNH

UnitedHealth

$159.40

2.08 (1.32%)

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NKE

Nike

$52.10

1.53 (3.03%)

, UA

Under Armour

$27.03

1.62 (6.38%)

17:49
12/07/16
12/07
17:49
12/07/16
17:49
Periodicals
Nike losing market share to faster-growing rivals, Barron's reports »

Despite being down nearly…

NKE

Nike

$52.10

1.53 (3.03%)

UA

Under Armour

$27.03

1.62 (6.38%)

ADDYY

adidas

$76.96

1.225 (1.62%)

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  • 20

    Dec

T

AT&T

$40.45

1.1 (2.80%)

17:45
12/07/16
12/07
17:45
12/07/16
17:45
Conference/Events
AT&T management to meet with Jefferies »

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  • 07

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  • 07

    Dec

EFC

Ellington Financial

$16.30

0.2 (1.24%)

17:41
12/07/16
12/07
17:41
12/07/16
17:41
Hot Stocks
Ellington Financial reports estimated book value per share $19.80 as of Nov 30 »

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