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INSM

Insmed

, AZN

AstraZeneca

$32.57

-0.43 (-1.30%)

07:00
10/05/16
10/05
07:00
10/05/16
07:00

Insmed signs licensing agreement with AstraZeneca for DDP1 inhibitor

Insmed (INSM) announced a licensing agreement with AstraZeneca (AZN) for global exclusive rights to AZD7986, a novel oral inhibitor of dipeptidyl peptidase I, or DPP1. DPP1 is an enzyme that catalyzes the activation of neutrophil serine proteases, which play a key role in pulmonary diseases such as non-cystic fibrosis bronchiectasis. Insmed has renamed the compound INS1007 and will pursue an initial indication of non-CF bronchiectasis, a rare, progressive, neutrophil-driven pulmonary disorder in which the bronchi become permanently dilated due to chronic inflammation and infection. The estimated global prevalence of non-CF bronchiectasis exceeds 2 million, of which at least 110,000 cases are in the U.S. There is currently no cure for non-CF bronchiectasis. Insmed is completing its plans for a phase 2 study in non-CF bronchiectasis. The study is expected to begin in 2017. Insmed will pay AstraZeneca an upfront payment of $30M. AstraZeneca will be eligible to receive future payments totaling $120M in future clinical, regulatory, and sales-related milestones. AstraZeneca would also be entitled to receive tiered royalties ranging from a high single-digit to mid-teen. In addition, the agreement provides AstraZeneca with the option to negotiate a future agreement with Insmed for commercialization of AZD7986/INS1007 in chronic obstructive pulmonary disease or asthma.

INSM

Insmed

AZN

AstraZeneca

$32.57

-0.43 (-1.30%)

  • 07

    Oct

  • 13

    Oct

  • 16

    Nov

INSM Insmed

06/09/16
LEER
06/09/16
NO CHANGE
Target $21
LEER
Outperform
Insmed withdrawal in Europe a minor setback, says Leerink
Leerink analyst Joseph Schwartz says Insmed decided to withdraw its Marketing Authorization Application from the European Medicines Agency for its Arikayce in treating patients with nontuberculous mycobacterium infections. The analyst sees this setback as minor as Phase 3 CONVERT study continues to enroll patients allowing the company to return with "better, more convincing" clinical data at a later date. Schwartz reiterates an Outperform rating on the stock but lowered his price target on the shares to $21 from $23.
06/09/16
PIPR
06/09/16
NO CHANGE
Target $24
PIPR
Overweight
Insmed withdrawal in Europe does little to change outlook, says Piper Jaffray
Piper Jaffray analyst Joshua Schimmer says Insmed's decision to withdraw its Marketing Authorization Application from the European Medicines Agency for Arikayce for the treatment of nontuberculous mycobacteria lung disease does little to change the company's outlook. Like the FDA, the European regulators want to see the results of the full Phase 3 Convert study, which will report in 2017, Schimmer tells investors in a research note. Success in the Phase 3 trial likely would have been needed to stay on the market anyways, the analyst contends. He keeps an Overweight rating on Insmed with a $24 price target.
03/15/16
STFL
03/15/16
INITIATION
Target $23
STFL
Buy
Insmed initiated with a Buy at Stifel
Target $23.
12/18/15
SBSH
12/18/15
DOWNGRADE
Target $7
SBSH
Neutral
Synergy Pharmaceuticals downgraded to Neutral from Buy at Citi
Citi analyst Liav Abraham downgraded Synergy Pharmaceuticals (SGYP) to Neutral saying the commercial potential of plecanatide will be "significantly lower" than that of Linzess. He also views the probability of a takeout of the company as less likely. The analyst cut his price target for the shares to $7 from $12. Abraham calls Synergy and Insmed (INSM) his least favored small-cap Specialty Pharma names for 2016.
AZN AstraZeneca
$32.57

-0.43 (-1.30%)

09/23/16
09/23/16
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. Morgan Stanley analyst Brian Nowak initiated Activision Blizzard (ATVI) and Electronic Arts (EA), both with Overweight ratings. The analyst is bullish on the digital gaming shift away from "units sold" to a business model based on users, engagement, and digital monetization. He sees digital in-game offerings resulting in recurring and growth user bases, increased per-game engagement, and further monetization opportunities. 2. AstraZeneca (AZN) and GlaxoSmithKline (GSK) both initiated with Overweight ratings by Piper Jaffray analyst Richard Purkiss. 3. Achillion (ACHN) initiated with an Outperform by Wedbush analyst Heather Behanna, who set a $13 price target on the shares. 4. Sysco (SYY) initiated with an Underweight at Barclays and $48 price target by analyst Karen Short. 5. Five Below (FIVE), Dollar Tree (DLTR) and Dollar General (DG) all initiated with Equal Weight ratings by Barclays analyst Karen Short. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/23/16
PIPR
09/23/16
INITIATION
PIPR
Overweight
AstraZeneca initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Richard Purkiss started AstraZeneca with an Overweight rating and GBP 60 price target.
09/13/16
EXAN
09/13/16
DOWNGRADE
EXAN
Neutral
AstraZeneca downgraded to Neutral from Outperform at Exane BNP Paribas
09/12/16
09/12/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Pandora (P) upgraded to Buy from Neutral at SunTrust with analyst Robert Peck saying he thinks that a new interactive offering by the company could raise its contribution profit by 4%-9% and that the Street's 2017 estimates for the company "seem conservative." The analyst added that he thinks it's "very possible" that Pandora will be acquired. 2. AstraZeneca (AZN) upgraded to Buy from Hold at Jefferies with analyst Jeffrey Holford saying the company's MYSTIC oncology study could drive 39% share upside if successful. 3. Apache (APA) and upgraded to Overweight from Neutral at Atlantic Equities and to Peer Perform from Underperform at Wolfe Research. 4. Philip Morris (PM) upgraded to Conviction Buy from Neutral at Goldman with analyst Judy Hong saying she is increasingly bullish on the prospects of Next Generation Products and expects them to contribute 5%-6% of earnings by 2020. 5. Wal-Mart (WMT) upgraded to Outperform from Market Perform at Cowen with analysts led by Oliver Chen saying price investments, integration of physical and digital, and the Jet acquisitions position the company to regain its dominance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

AMZN

Amazon.com

$740.34

-3.31 (-0.45%)

11:32
12/05/16
12/05
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11:32
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Amazon confirms Amazon Go 'store with no checkout required' »

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KNX

Knight Transportation

$36.45

0.45 (1.25%)

11:31
12/05/16
12/05
11:31
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11:31
Conference/Events
Knight Transportation management to meet with Stephens »

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03/08/13
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NBR

Nabors Industries

$17.50

0.445 (2.61%)

11:30
12/05/16
12/05
11:30
12/05/16
11:30
Options
Calendar spreads in Nabors trading with hefty markup »

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11:30
12/05/16
12/05
11:30
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11:30
General news
Treasury Futures Action: a large block purchase of Ultra bonds »

Treasury Futures Action:…

ABMD

Abiomed

$108.87

1.48 (1.38%)

11:26
12/05/16
12/05
11:26
12/05/16
11:26
Conference/Events
Abiomed management to meet with Stephens »

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  • 06

    Dec

DISCA

Discovery

$26.60

-0.55 (-2.03%)

11:25
12/05/16
12/05
11:25
12/05/16
11:25
Hot Stocks
Breaking Hot Stocks news story on Discovery »

Discovery up nearly 3% as…

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  • 05

    Dec

SUM

Summit Materials

$23.46

0.2 (0.86%)

11:20
12/05/16
12/05
11:20
12/05/16
11:20
Conference/Events
Summit Materials management to meet with Stephens »

Meetings to be held in…

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  • 19

    Dec

P

Pandora

$13.59

0.255 (1.91%)

11:20
12/05/16
12/05
11:20
12/05/16
11:20
Options
Bullish option play opened in Pandora »

Bullish option play…

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DISCA

Discovery

$26.60

-0.55 (-2.03%)

, T

AT&T

$38.75

0.14 (0.36%)

11:18
12/05/16
12/05
11:18
12/05/16
11:18
Hot Stocks
Discovery CEO says 'well positioned' to take product direct to consumer in 2017 »

Discovery (DISCA) says…

DISCA

Discovery

$26.60

-0.55 (-2.03%)

T

AT&T

$38.75

0.14 (0.36%)

TWX

Time Warner

$93.84

0.04 (0.04%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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  • 05

    Dec

  • 07

    Dec

  • 07

    Dec

SCG

SCANA

$70.63

-0.29 (-0.41%)

11:18
12/05/16
12/05
11:18
12/05/16
11:18
Hot Stocks
SCANA, Westinghouse receive order from DRB about construction milestone payment »

South Carolina Electric…

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BGNE

BeiGene

$30.86

0.06 (0.19%)

11:18
12/05/16
12/05
11:18
12/05/16
11:18
Hot Stocks
BeiGene: BGB-3111 'highly active' in CLL/SLL, well tolerated in Phase 1 study »

BeiGene presented updated…

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  • 05

    Dec

NKE

Nike

$51.77

1.31 (2.60%)

11:16
12/05/16
12/05
11:16
12/05/16
11:16
Technical Analysis
Nike moves to monthly highs, levels to watch »

The stock is up over 3%…

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  • 20

    Dec

TGTX

TG Therapeutics

$5.50

0.05 (0.92%)

11:16
12/05/16
12/05
11:16
12/05/16
11:16
Hot Stocks
TG Therapeutics announces oral data presentation for TGR-1202 at ASH »

TG Therapeutics announced…

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  • 05

    Dec

$NYE

NYSE Market Internals

11:16
12/05/16
12/05
11:16
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11:16
Technical Analysis
NYSE market internals summary »

Breadth is bullish across…

03/08/13
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$NSD

NASDAQ Market Internals

11:16
12/05/16
12/05
11:16
12/05/16
11:16
Technical Analysis
NASDAQ market internals summary »

Volume is very light for…

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NYT

New York Times

$13.00

0.2 (1.56%)

11:15
12/05/16
12/05
11:15
12/05/16
11:15
Periodicals
New York Times sees more-than-tenfold increase in daily subs, Politico reports »

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  • 05

    Dec

11:15
12/05/16
12/05
11:15
12/05/16
11:15
General news
Breaking General news story  »

6-Month Bill Auction to…

11:15
12/05/16
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11:15
General news
Breaking General news story  »

3-Month Bill Auction to…

GWPH

GW Pharmaceuticals

$112.32

3.04 (2.78%)

11:14
12/05/16
12/05
11:14
12/05/16
11:14
Recommendations
GW Pharmaceuticals analyst commentary  »

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  • 05

    Dec

ORA

Ormat Technologies

$47.50

0.17 (0.36%)

11:14
12/05/16
12/05
11:14
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11:14
Conference/Events
Ormat Technologies management to meet with Oppenheimer »

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  • 12

    Dec

  • 13

    Dec

FGP

Ferrellgas Partners LP

$6.20

0.55 (9.73%)

11:13
12/05/16
12/05
11:13
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11:13
Upgrade
Ferrellgas Partners LP rating change  »

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  • 09

    Dec

ULTA

Ulta Beauty

$253.39

-4.02 (-1.56%)

11:12
12/05/16
12/05
11:12
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11:12
Conference/Events
Ulta Beauty management to meet with Oppenheimer »

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  • 07

    Dec

  • 13

    Dec

RSX

Market Vectors Russia ETF

$20.25

0.41 (2.07%)

11:10
12/05/16
12/05
11:10
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11:10
Options
Bullish option action in the VanEck Vectors Russia Fund »

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11:10
12/05/16
12/05
11:10
12/05/16
11:10
General news
Treasury announced a $45 B 4-week bill sale for Tuesday »

Treasury announced a $45…

CDK

CDK Global

$56.91

-0.24 (-0.42%)

11:07
12/05/16
12/05
11:07
12/05/16
11:07
Conference/Events
CDK Global management to meet with Oppenheimer »

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  • 07

    Dec

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