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ILMN

Illumina

$138.00

0.83 (0.61%)

, RHHBY

Roche

$29.69

-0.02 (-0.07%)

09:53
10/17/16
10/17
09:53
10/17/16
09:53

Illumina pullback could speed up, or 'blow up,' a takeover bid, Harrington says

In a new interview with Tip TV Finance, Betaville's Ben Harrington said the pullback in shares of Illumina (ILMN) following its profit warning could make the company more palatable as a takeover target, possibly for Roche (RHHBY). In a previous interview with Tip TV, Harrington also discussed rumors that Roche was considering revisiting a bid for Illumina. Reference Link

ILMN

Illumina

$138.00

0.83 (0.61%)

RHHBY

Roche

$29.69

-0.02 (-0.07%)

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ILMN Illumina
$138.00

0.83 (0.61%)

10/11/16
PIPR
10/11/16
NO CHANGE
Target $150
PIPR
Overweight
Illumina selloff a buying opportunity, says Piper Jaffray
Piper Jaffray analyst William Quirk recommends using today's selloff in shares of Illumina as a buying opportunity. The stock traded down 24% last night after the company reported preliminary Q3 revenue of $607M, below the Street's $628.3M estimate. A lower number of HiSeq 2500/4000 installs as well as a HiSeq X Ten placement slip drove the revenue miss, Quirk tells investors in a research note. He notes, however, that his HiSeq X checks found the pipeline remains "very strong" at 95 systems, with a majority driven by the Chinese precision medicine program. He views $130 as a "technical floor" for the shares and dropped his price target for Illumina to $150 from $163. Quirk keeps an Overweight rating on the name.
10/11/16
SBSH
10/11/16
DOWNGRADE
Target $140
SBSH
Neutral
Illumina downgraded to Neutral from Buy at Citi
Citi analyst Daniel Arias downgraded Illumina to Neutral saying last night's preannouncement marked the company's fourth miss in six quarters. "Forecasting capabilities have clearly diminished," Arias tells investors in a research note. He lowered his price target for the shares to $140 and thinks the stock could hit the $110-$120 range today. Illumina is trading down $48.59, or 26%, to $136.26 in the pre-market.
10/11/16
JANY
10/11/16
DOWNGRADE
JANY
Sell
Illumina downgraded to Sell from Neutral at Janney Capital
10/11/16
10/11/16
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. Comerica (CMA) downgraded to Market Perform from Outperform at FBR Capital with analyst Bob Ramsey citing valuation following the recent strength in the shares. 2. Charter downgraded to Neutral from Buy at MoffettNathanson with analyst Craig Moffett saying shares have risen sharply year-to-date, along with consensus estimates, and views shares as fairly valued. 3. BHP Billiton (BHP) downgraded to Neutral from Buy at UBS with the firm citing its expectations for lower iron ore and coal prices over the next six months. 4. Illumina (ILMN) downgraded to Sell from Neutral at Janney Capital and to Neutral from Buy at Citi. 5. KBR (KBR) downgraded to Sell from Neutral at Goldman with analyst Jerry Revich citing limited growth prospects due to outsized exposure to core LNG and greenfield ammonia capex cycles that are in the early stages of decline. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
RHHBY Roche
$29.69

-0.02 (-0.07%)

09/01/16
BMOC
09/01/16
NO CHANGE
BMOC
Bristol-Myers has negative read through from Roche data, says BMO Capital
BMO Capital analyst Alex Arfaei says that the positive data on Roche's (RHHBY) TECENTRIQ for second line NSCLC is negative for Bristol-Myers' (BMY) cancer drug, Opdivo. The analyst does not think that TECENTRIQ's results will be superior to that of Opdivo, but he believes that Roche's drug appears to have "a significant" benefit in PD-L1 positive patients." He predicts that Roche's drug could take "meaningful market share, particularly outside of the U.S." The analyst keeps a Market Perform rating on Bristol-Myers.
09/07/16
09/07/16
NO CHANGE

BioLineRx partnering with Roche company in cancer therapy research
BioLineRx (BLRX) has entered into a collaboration with Genentech, a member of the Roche (RHHBY) Group, to support several Phase 1b studies investigating BioLineRx's BL-8040 in combination with Atezolizumab, Genentech's anti-PDL1 cancer immunotherapy, in multiple cancer indications. The Phase 1b studies will evaluate the clinical response, safety and tolerability of the combination of these therapies, as well as multiple pharmacodynamic parameters, in hematologic malignancies and solid tumors. Under the agreement, Genentech will sponsor and conduct several Phase 1b trials in multiple solid cancer indications. In addition, BioLineRx will sponsor and conduct a Phase 1b study in acute myeloid leukemia patients. The studies are designed to evaluate the safety and efficacy of the combination of BL-8040 and Atezolizumab. Upon completion of the studies, both parties will have the option to expand the collaboration to include a pivotal registration study. Additional details of the collaboration were not disclosed.
09/12/16
JEFF
09/12/16
NO CHANGE
Target $57
JEFF
Hold
Jefferies cuts Bristol-Myers price target, upgrades AstraZeneca
Jefferies analyst Jeffrey Holford lowered his price target for Bristol-Myers Squibb (BMY) to $57 from $69 saying the stock is positioned for a "rough mid term ride." The analyst sees a "difficult catalyst" set for Bristol shares with "numerous" upcoming competitor read-outs in non-small cell lung cancer. The market could see worse than expected data from Bristol's CM-026 and CM-568 studies as well as better than expected data from AstraZeneca's (AZN) MYSTIC study and Roche's (RHHBY) Chemo-IO studies in the first half of 2017, Holford tells investors in a research note. He keeps a Hold rating on Bristol and upgraded this morning AstraZeneca to Buy from Hold. Holford prefers Astra for its immunology exposure.
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.

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