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OPHT

Ophthotech

$43.70

-1.6 (-3.53%)

, NVS

Novartis

$78.44

-0.01 (-0.01%)

10:26
10/07/16
10/07
10:26
10/07/16
10:26

Sector sources name Ophthotech as possible takeover target, Dealreporter says

Sector sources told Dealreporter that Ophthotech (OPHT) could draw acquisition interest in the next year, assuming that its late-stage data for its wet AMD drug, Fovista, is positive, according to contacts. Novartis (NVS), Allergan (AGN), Shire (SHPG), Bayer (BAYRY) and Sanofi (SNY) were all listed by the sources as potential bidders, the report added. Ophthotech shares are up about 3% in early trading.

OPHT

Ophthotech

$43.70

-1.6 (-3.53%)

NVS

Novartis

$78.44

-0.01 (-0.01%)

AGN

Allergan

$239.29

1.88 (0.79%)

BAYRY

Bayer

$100.40

-0.18 (-0.18%)

SNY

Sanofi

$38.67

0.16 (0.42%)

  • 07

    Oct

  • 30

    Oct

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    Nov

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    Mar

OPHT Ophthotech
$43.70

-1.6 (-3.53%)

10/06/16
GSCO
10/06/16
NO CHANGE
Target $23
GSCO
Sell
Ophthotech price target lowered to $23 from $45 at Goldman
Goldman analyst Terence Flynn lowered Ophthotech's (OPHT) price target to $23 from $45 and reiterated his Sell rating. He revised is thesis on Ophthotech following Regeneron's (REGN) recent negative Phase II data for its co-formulation of Eylea with Rinucumab and is incrementally more cautious on success for Fovista currently in Phase III trials.
10/04/16
JPMS
10/04/16
NO CHANGE
Target $110
JPMS
Overweight
Ophthotech price target raised to $110 from $95 at JPMorgan
JPMorgan analyst Anupam Rama raised his price target for Ophthotech to $110 from $95 citing the elimination of Regeneron (REGN) from the Wet age-related macular degeneration space following its trial failure. Ophthotech closed yesterday down $2.56 to $43.57. The stock is down 20% since last Friday amid mechanism concerns following Regeneron's phase 2 data, Rama tells investors in a research note. The analyst views the weakness in Ophthotech as a buying opportunity. There are important mechanistic differences between the company's Fovista and Regeneron's REGN2176-3, and early phase 1 data for Fovista "are comparatively more compelling," the analyst contends. He points out that the Phase 3 results with Fovista + Lucentis combination therapy are expected this quarter. The analyst keeps an Overweight rating on Ophthotech.
09/09/16
LEER
09/09/16
NO CHANGE
LEER
Leerink updates therapeutics best ideas for 2016
In a note to investors this morning, Leerink has updated its best ideas for 2016 from the firm's five therapeutics analysts. The list includes Alexion (ALXN), Dermira (DERM), Intra-Cellular (ITCI), Sanofi (SNY), Allergan (AGN), Alnylam (ALNY), Innate Pharma (IPHYF), The Medicines Co. (MDCO), and Ophthotech (OPHT).
09/30/16
COWN
09/30/16
NO CHANGE
Target $60
COWN
Outperform
Ophthotech price target lowered to $60 from $80 at Cowen
Cowen analyst Tyler Van Buren said that Regeneron's (REGN) Phase 2 data for aflibercept co-formulated with rinucumab is negative for the class of anti-PDGFs as a whole and lowered his price target on Ophthotech (OPHT) to $60 from $80 after lowering his view of the probability of the success of its own wet AMD treatment to 50%. However, if a 3-4 letter benefit if observed when the Phase III trials read out in December, upside of $80-$120 per share from current levels is still possible, said Van Buren, who keeps an Outperform rating on Ophthotech shares.
NVS Novartis
$78.44

-0.01 (-0.01%)

08/31/16
LEER
08/31/16
NO CHANGE
Target $61
LEER
Outperform
Teva price target lowered to $61 from $66 at Leerink
Leerink analyst Jason Gerberry lowered his price target for Teva (TEVA) to $61 from $66 on loss of Copaxone patent challenge as an upside catalyst. The analyst believes Teva's share price implies a generic entrant sometime in the second half of 2017 after losing an Inter Partes Review decision on two Copaxone 40mg anchor patents. In order to mitigate EPS downside in 2017-2018 and eliminate business uncertainty, Gerberry thinks the company should settle its Copaxone patent dispute with Novartis (NVS) and Momenta (MNTA), which he sees as "the most credible" generic threat. The analyst reiterates an Outperform rating on Teva's shares.
09/20/16
CHDN
09/20/16
INITIATION
Target $95
CHDN
Buy
Novartis initiated with a Buy at Chardan
Chardan initiated Novartis with a Buy and a $95 price target.
08/31/16
PIPR
08/31/16
NO CHANGE
PIPR
Piper's Schimmer unsure of impact from Novartis CAR-T shakeup
Piper Jaffray analyst Joshua Schimmer said he's struggling with the implications of the news that Novartis (NVS) is reportedly eliminating its Cell and Gene Therapy unit as a stand-alone entity, which is primarily focused on development of CAR-T and adoptive immunotherapies. On the one hand, removing a leading competitor is a positive for the rest of the field, Schimmer tells investors in a research note. On the other hand, the move by Novartis could signal "significant challenges" in the field, the analyst adds. Schimmer continues to prefer companies "with unique and differentiated approaches," namely Bellicum Pharmaceuticals (BLCM), Cellectis (CLLS), Lion Biotechnologies (LBIO), Amgen (AMGN), Celgene (CELG) and bluebird bio (BLUE). Juno Therapeutics (JUNO) and Kite Pharma (KITE) are down 6% and 5%, respectively, in midday trading.
09/02/16
LEER
09/02/16
NO CHANGE
LEER
Outperform
Teva third Copaxone patent invalidated as expected, says Leerink
Leerink analyst Jason Gerberry says Teva (TEVA) suffered a largely expected loss in its Copaxone 40mg patent battle, with the Patent Trial and Appeal Board, or PTAB, ruling a third patent invalid. The analyst believes the company will likely appeal the loss, along with PTAB rulings rendered last week that other Copaxone patents were invalid. Gerberry sees the bull case scenario of Teva securing patent exclusivity of the Copaxone 40mg as unlikely and says a settlement with Momenta (MNTA) and Novartis (NVS) is the most logical course of action to mitigate 2017-2018E EPS risk. He reiterates an Outperform rating on Teva's shares.
AGN Allergan
$239.29

1.88 (0.79%)

09/26/16
LEER
09/26/16
NO CHANGE
LEER
Shire Xiidra launch to 'significantly' expand dry eye category, says Leerink
Leerink analyst Jason Gerberry remains optimistic that Shire's (SHPG) Xiidra launch will "significantly" expand the category for dry eye disease brands, while not meaningfully eroding Allergan's (AGN) Restasis market leading position. While it's still early in the launch of Xiidra and payer access remains a critical variable, the analyst does not anticipate access being a major barrier. Gerberry reiterates an Outperform rating on both Shire and Allergan's shares.
09/22/16
BERN
09/22/16
NO CHANGE
BERN
Allergan acquisitions positive, says Bernstein
After Allergan bought two companies with NASH drugs and the stock fell, Bernstein analyst Aaron Gal says the acquisitions were viewed as expensive. Gal says "it makes almost no difference" if the deals were expensive, as the important issue is whether the products succeed. He believes that the market would never penalize Roche or Celgene for similar deals, and he thinks this indicates that Allergan is "misvalued." He says that Allergan is his "high conviction buy" stock and keeps a $335 price target on the shares.
09/21/16
GABE
09/21/16
NO CHANGE
GABE
Buy
Gabelli questions if Allergan could target Gilead next
Gabelli analyst Kevin Kedra said that "like most" he was surprised at the price paid and the strategic fit of Allergan's (AGN) deal to buy Tobira Therapeutics (TBRA), but wonders if Allergan CEO Brent Saunders is "playing chess while the market is playing checkers" and could be preparing a bid for Gilead (GILD). After Allergan's "very loud statement about its commitment to NASH and liver disease," a deal for Gilead, the leading company in liver disease and "one of the cheapest companies in pharma/biotech," would appear to make more sense, Kedra tells investors, adding that an acquisition of Gilead at a price of $115 per share would be "highly accretive" for Allergan. The analyst keeps a Buy rating on Allergan shares.
09/21/16
CANT
09/21/16
DOWNGRADE
CANT
Hold
Tobira Therapeutics downgraded to Hold from Buy at Cantor
Cantor analyst Elemer Piros downgraded Tobira (TBRA) after the company agreed to be acquired by Allergan (AGN). Target to $42 from $19.
BAYRY Bayer
$100.40

-0.18 (-0.18%)

09/21/16
JPMS
09/21/16
UPGRADE
Target $128
JPMS
Overweight
Monsanto upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Jeffrey Zekauskas upgraded Monsanto (MON) to Overweight saying the risk in the shares is "less than what the market assumes." The analyst believes downside risk should the takeover by Bayer (BAYRY) fail is around $100 per share. He notes that Monsanto shareholders would receive $128 per share should the acquisition close. Zekauskas raised his price target for Monsanto to $128 from $100.
09/15/16
BERN
09/15/16
NO CHANGE
BERN
Bayer acquisition negative, says Bernstein
After Bayer (BAYRY) agreed to buy Monsanto (MON), Bernstein analyst Jonas Oxgaard says he "continues to have a bearish view" of Monsanto's business, and he thinks that Monsanto's price exceeded the company's true value by about 60%. The analyst adds that the genetically modified products that Monsanto is developing "are not expected to command outsized premiums," while genetically modified seeds have nearly fully penetrated most of the Americas. He keeps an Underperform rating on Monsanto and an Outperform rating on Bayer.
09/15/16
PIPR
09/15/16
NO CHANGE
Target $128
PIPR
Overweight
Piper has confidence in closing of Monsanto, Bayer merger
Piper Jaffray analyst Brett Wong raised his price target for Monsanto (MON) to $128 citing the takeover price paid by Bayer (BAYRY). The analyst views the offer price as lower than expected but has confidence regulatory approval will be granted since there is a minimal crossover between the two companies. He reiterates an Overweight rating on Monsanto.
09/26/16
BERN
09/26/16
UPGRADE
BERN
Market Perform
Monsanto upgraded on acquisition at Bernstein
As noted earlier, Bernstein upgraded Monsanto (MON) to Market Perform from Underperform. Analyst Jonas Oxgaard upgraded the stock after Bayer (BAYRY) agreed to buy Monsanto. However, he warned that "it's too early to tell" whether regulators will approve the deal, and he says that the risk is "skewed to the downside in the near-term." He recommends that investors avoid the stock for 6-9 months. Target to $105 from $90.
SNY Sanofi
$38.67

0.16 (0.42%)

10/03/16
ROTH
10/03/16
NO CHANGE
Target $520
ROTH
Buy
Regeneron has 'solid' growth prospects, upside potential, says Roth Capital
After Regeneron (REGN) and Sanofi (SNY) released positive results from their Dupixent Phase 3 trials, SOLO 1 and SOLO in patients with atopic dermatitis, Roth Capital analyst Joseph Pantginis notes that clinical studies of Dupixent for additional atopic and allergic diseases are progressing and says he believes Regeneron's shares are poised for upside on upcoming catalysts. Moreover, the analyst says Regeneron has "solid" growth prospects based on approved and late stage products, deep pipeline, expansion of indications for current products, strong partners, and strong cash management. He reiterates a Buy rating and $520 price target on Regeneron's shares.
09/13/16
EXAN
09/13/16
UPGRADE
EXAN
Neutral
Sanofi upgraded to Neutral from Underperform at Exane BNP Paribas
09/23/16
PIPR
09/23/16
INITIATION
PIPR
Neutral
Sanofi initiated with a Neutral at Piper Jaffray
Piper Jaffray analyst Richard Purkiss started Sanofi with a Neutral rating and EUR 76 price target.

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MCK

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$167.61

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$26.70

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