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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

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.
03/15/16
STFL
03/15/16
INITIATION
Target $23
STFL
Buy
Insmed initiated with a Buy at Stifel
Target $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.
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.
AZN AstraZeneca
$32.57

-0.43 (-1.30%)

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.
09/13/16
EXAN
09/13/16
DOWNGRADE
EXAN
Neutral
AstraZeneca downgraded to Neutral from Outperform at Exane BNP Paribas
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.
09/23/16
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.

TODAY'S FREE FLY STORIES

WGO

Winnebago

$26.25

0.15 (0.57%)

07:15
04/24/17
04/24
07:15
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07:15
Initiation
Winnebago initiated  »

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CVX

Chevron

$104.89

0.01 (0.01%)

07:14
04/24/17
04/24
07:14
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07:14
Periodicals
Chevron to sell Bangladesh gas fields to Himalaya Energy, Reuters says »

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QTS

QTS Realty Trust

$52.90

-0.14 (-0.26%)

07:12
04/24/17
04/24
07:12
04/24/17
07:12
Recommendations
QTS Realty Trust analyst commentary  »

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  • 02

    May

CARA

Cara Therapeutics

$16.53

-0.56 (-3.28%)

07:12
04/24/17
04/24
07:12
04/24/17
07:12
Hot Stocks
Cara Therapeutics announces 'positive' data from Phase 1 trial of CR845 »

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STLD

Steel Dynamics

$35.37

0.46 (1.32%)

07:10
04/24/17
04/24
07:10
04/24/17
07:10
Upgrade
Steel Dynamics rating change  »

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AKS

AK Steel

$6.72

-0.1 (-1.47%)

07:10
04/24/17
04/24
07:10
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07:10
Upgrade
AK Steel rating change  »

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NUE

Nucor

$60.00

-0.35 (-0.58%)

07:10
04/24/17
04/24
07:10
04/24/17
07:10
Upgrade
Nucor rating change  »

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X

U.S. Steel

$30.42

-0.09 (-0.29%)

07:10
04/24/17
04/24
07:10
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07:10
Upgrade
U.S. Steel rating change  »

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  • 26

    Apr

AKZOY

AkzoNobel

$27.96

-0.11 (-0.39%)

, PPG

PPG

$105.94

-0.43 (-0.40%)

07:09
04/24/17
04/24
07:09
04/24/17
07:09
Hot Stocks
Breaking Hot Stocks news story on AkzoNobel, PPG »

AkzoNobel confirms third…

AKZOY

AkzoNobel

$27.96

-0.11 (-0.39%)

PPG

PPG

$105.94

-0.43 (-0.40%)

03/08/13
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SAGE

SAGE Therapeutics

$72.82

1.19 (1.66%)

07:09
04/24/17
04/24
07:09
04/24/17
07:09
Hot Stocks
SAGE Therapeutics appoints Michael Cloonan as Chief Business Officer »

Sage Therapeutics (SAGE)…

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XOMA

XOMA

$7.73

0.26 (3.48%)

07:09
04/24/17
04/24
07:09
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07:09
Hot Stocks
XOMA says X213 shown to be safe and effective in phase 2 study »

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  • 18

    May

AMDA

Amedica

$0.38

0.01 (2.70%)

07:08
04/24/17
04/24
07:08
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07:08
Hot Stocks
Amedica announces regulatory clearance to market, sell Valeo in Australia »

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HSBC

HSBC

$39.94

-0.09 (-0.22%)

, JPM

JPMorgan

$84.52

-1.03 (-1.20%)

07:07
04/24/17
04/24
07:07
04/24/17
07:07
Periodicals
HSBC selected to advise on $100B Aramco IPO, Reuters reports »

HSBC (HSBC) has been…

HSBC

HSBC

$39.94

-0.09 (-0.22%)

JPM

JPMorgan

$84.52

-1.03 (-1.20%)

MS

Morgan Stanley

$41.80

-0.7 (-1.65%)

03/08/13
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  • 26

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    Oct

AKER

Akers Biosciences

$1.80

0.1 (5.88%)

07:07
04/24/17
04/24
07:07
04/24/17
07:07
Hot Stocks
Akers Biosciences says digital apps approved by Apple Store »

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DHT

DHT Holdings

$4.60

-0.05 (-1.08%)

07:07
04/24/17
04/24
07:07
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07:07
Hot Stocks
DHT Holdings announces delivery of two VLCCs from BW Group »

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SFR

Colony Starwood Homes

$34.82

0.12 (0.35%)

07:07
04/24/17
04/24
07:07
04/24/17
07:07
Initiation
Colony Starwood Homes initiated  »

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  • 09

    May

  • 15

    May

AKZOY

AkzoNobel

$27.96

-0.11 (-0.39%)

, PPG

PPG

$105.94

-0.43 (-0.40%)

07:06
04/24/17
04/24
07:06
04/24/17
07:06
Hot Stocks
AkzoNobel says will 'carefully review' PPG's third unsolicited proposal »

Akzo Nobel N.V. (AKZOY)…

AKZOY

AkzoNobel

$27.96

-0.11 (-0.39%)

PPG

PPG

$105.94

-0.43 (-0.40%)

03/08/13
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PLYA

Playa Hotels & Resorts

$10.26

-0.04 (-0.39%)

07:06
04/24/17
04/24
07:06
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07:06
Initiation
Playa Hotels & Resorts initiated  »

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  • 09

    May

FLR

Fluor

$50.58

0.09 (0.18%)

, BP

BP

$34.00

-0.15 (-0.44%)

07:06
04/24/17
04/24
07:06
04/24/17
07:06
Hot Stocks
Fluor awarded offshore compression platform FEED by BP »

Fluor (FLR) announced…

FLR

Fluor

$50.58

0.09 (0.18%)

BP

BP

$34.00

-0.15 (-0.44%)

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  • 04

    May

PRTK

Paratek Pharmaceuticals

$22.00

0.4 (1.85%)

07:05
04/24/17
04/24
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07:05
Hot Stocks
Paratek, Zai Lab announce collaboration for Omadacycline in China »

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PRTK

Paratek Pharmaceuticals

$22.00

0.4 (1.85%)

07:04
04/24/17
04/24
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07:04
Hot Stocks
Paratek highlights potential for omadacycline to provide cost savings vs. SOC »

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BWLD

Buffalo Wild Wings

$161.75

-2 (-1.22%)

07:04
04/24/17
04/24
07:04
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07:04
Hot Stocks
Buffalo Wild Wings announces filing of proxy materials »

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  • 26

    Apr

GWW

Grainger

$195.15

-0.81 (-0.41%)

07:04
04/24/17
04/24
07:04
04/24/17
07:04
Downgrade
Grainger rating change  »

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  • 26

    Apr

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ATEC

Alphatec

, CAE

CAE

$15.21

-0.06 (-0.39%)

07:04
04/24/17
04/24
07:04
04/24/17
07:04
Conference/Events
American Association of Neurological Surgeons to hold annual meeting »

2017 AANS Annual…

ATEC

Alphatec

CAE

CAE

$15.21

-0.06 (-0.39%)

EDGE

Edge Therapeutics

$9.02

-0.02 (-0.22%)

MDT

Medtronic

$80.48

-0.54 (-0.67%)

NUVA

NuVasive

$75.02

-0.68 (-0.90%)

SYK

Stryker

$132.94

0.18 (0.14%)

VRTX

Vertex

$116.70

-0.56 (-0.48%)

SYNA

Synaptics

$50.76

-0.34 (-0.67%)

NVIV

InVivo Therapeutics

$3.90

-0.35 (-8.24%)

LMAT

LeMaitre

$25.14

-0.23 (-0.91%)

MZOR

Mazor Robotics

$35.68

0.64 (1.83%)

OFIX

Orthofix

$38.95

0.33 (0.85%)

SSNLF

Samsung

SIEGY

Siemens

$67.34

-0.197 (-0.29%)

SNE

Sony

$33.68

0.85 (2.59%)

03/08/13
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  • 06

    Jun

AMRI

Albany Molecular

$15.82

0.04 (0.25%)

07:04
04/24/17
04/24
07:04
04/24/17
07:04
Hot Stocks
Denovo obtains license to Albany Molecular's liafensine »

Denovo Biopharma…

03/08/13
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  • 06

    Jun

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