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MACK

Merrimack

$4.90

-0.06 (-1.21%)

, SHPG

Shire

$185.79

-1.91 (-1.02%)

11:07
10/18/16
10/18
11:07
10/18/16
11:07

Merrimack, Shire trade higher after EC grants MA for cancer treatment Onivyde

Shares of Merrimack Pharmaceuticals (MACK), a biopharmaceutical company that focuses on drugs to treat cancer, are higher in morning trading after PharmaEngine announced that the European Commission, or EC, granted Shire (SHPG), its sublicensee for Onivyde, a marketing authorization for the cancer treatment. WHAT'S NOTABLE: Onivyde, used in combination with 5-fluorouracil and leucovorin as a treatment for pancreatic cancer, was originally developed by Merrimack. Shire is responsible for development and marketing of the drug outside the United States and Taiwan and Merrimack markets Onivyde in the U.S. after the U.S. Food and Drug Administration approved it in October 2015. "We appreciate the joint team efforts from Merrimack and their licensee, Shire, for having submitted the Marketing Authorization Application to the EMA in May 2015, and successfully obtained the marketing approval," said C. Grace Yeh, Ph.D., President and CEO of PharmaEngine. "We are excited that Onivyde will now be available to treat the post-gemcitabine pancreatic cancer patients in the EU, which is one of the major markets that we licensed to Merrimack." PRICE ACTION: In morning trading, Merrimack Pharmaceuticals is up 4.5% to $5.12, while Shire is up 2.35% to $190.16.

MACK

Merrimack

$4.90

-0.06 (-1.21%)

SHPG

Shire

$185.79

-1.91 (-1.02%)

  • 26

    Oct

MACK Merrimack
$4.90

-0.06 (-1.21%)

08/05/16
BMUR
08/05/16
NO CHANGE
Target $13
BMUR
Buy
Merrimack price target lowered to $13 from $16 at Brean Capital
Brean Capital lowered its price target on Merrimack to $13 from $16 following Q2 results. The firm cited the sales miss on Onivyde, although they are encouraged by its early launch. Brean Capital reiterated its Buy rating on Merrimack shares.
08/05/16
COWN
08/05/16
DOWNGRADE
COWN
Market Perform
Merrimack downgraded to Market Perform from Outperform at Cowen
08/19/16
BTIG
08/19/16
INITIATION
BTIG
Neutral
Merrimack initiated with a Neutral at BTIG
BTIG analyst Ling Wang initiated Merrimack with a Neutral as he expects shares to be range-bound given the likely slow ramp-up of ONIVYDE and data from MM-302 and MM-121 won't be available until 2017 or beyond;
10/07/16
JPMS
10/07/16
DOWNGRADE
Target $7
JPMS
Neutral
Merrimack downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Anupam Rama downgraded Merrimack Pharmaceuticals to Neutral saying the shares are likely to be range-bound after rallying 36% from the 52-week low on September 20. Key pipeline catalysts aren't likely until Q2 of 2017 and beyond while 2016 estimates are not "meaningfully beatable," Rama tells investors in a research note. He lowered his price target for the shares to $7 from $8.
SHPG Shire
$185.79

-1.91 (-1.02%)

08/03/16
LEER
08/03/16
NO CHANGE
Target $231
LEER
Outperform
Shire price target raised to $231 from $213 at Leerink
Leerink analyst Jason Gerberry raised his price target for Shire to $231 from $213 on valuation after the company reported "solid" Q2 results. The analyst reiterates an Outperform rating on the shares.
08/31/16
JEFF
08/31/16
NO CHANGE
Target $262
JEFF
Buy
Shire making right moves in dry eye market, says Jefferies
After hosting meetings with management, Jefferies analyst David Steinberg believes Shire (SHPG) is making "all the right moves" to make its dry eye drug Xiidra a potential $2B peak product in the U.S. Shire's Xiidra is competing with Allergan's (AGN) $1.4B dry eye drug Restasis, Steinberg tells investors in a research note. The analyst does not think Shire will have any problem exceeding the drug's consensus sales forecast of $200M for next year. He keeps a Buy rating on the shares with a $262 price target.
09/26/16
HSBC
09/26/16
DOWNGRADE
HSBC
Hold
Shire downgraded to Hold from Buy at HSBC
HSBC analyst Steve McGarry downgraded SHire to Hold saying valuation is no longer compelling.
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.

TODAY'S FREE FLY STORIES

INFY

Infosys

$14.84

0.065 (0.44%)

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INFY

Infosys

$14.84

0.065 (0.44%)

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NY AG Schneiderman announces $1M settlement with Infosys »

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WDC

Western Digital

$90.25

-0.78 (-0.86%)

11:25
06/23/17
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Options
Western Digital call volume above normal and directionally bullish »

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VLKAY

Volkswagen

$30.88

0.6 (1.98%)

11:22
06/23/17
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11:22
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11:22
Periodicals
VW reducing workforce at core unit more quickly than planned, Reuters says »

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PTLA

Portola Pharmaceuticals

$38.25

-1.24 (-3.14%)

11:18
06/23/17
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11:18
Hot Stocks
Breaking Hot Stocks news story on Portola Pharmaceuticals »

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  • 23

    Jun

  • 24

    Jun

$NSD

NASDAQ Market Internals

11:17
06/23/17
06/23
11:17
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11:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

03/08/13
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$NYE

NYSE Market Internals

11:16
06/23/17
06/23
11:16
06/23/17
11:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

03/08/13
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VALE

Vale

$8.22

0.12 (1.48%)

11:10
06/23/17
06/23
11:10
06/23/17
11:10
Options
10K VALE Jan 10 calls trade at 40c on ISE »

10K VALE Jan 10 calls…

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NURO

NeuroMetrix

$2.89

0.056 (1.98%)

11:08
06/23/17
06/23
11:08
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11:08
Hot Stocks
NeuroMetrix provides update on Quell wearable pain relief clinical program »

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CAT

Caterpillar

$103.76

-0.08 (-0.08%)

11:08
06/23/17
06/23
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11:08
Hot Stocks
As bar gets raised Deutsche Bank gets less bullish on Caterpillar »

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HZNP

Horizon Pharma

$11.87

0.44 (3.85%)

11:04
06/23/17
06/23
11:04
06/23/17
11:04
Earnings
Horizon Pharma now sees FY17 net sales $985M-$1.02B, consensus $990.53M »

In May, Horizon lowered…

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HZNP

Horizon Pharma

$11.87

0.44 (3.85%)

11:02
06/23/17
06/23
11:02
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11:02
Hot Stocks
Horizon Pharma completes sale of European marketing rights for Procysbi »

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UUP

PowerShares DB US Dollar Index Up

$25.14

-0.09 (-0.36%)

11:00
06/23/17
06/23
11:00
06/23/17
11:00
Options
Large spread in UPS as shares deliver gains »

Large spread in UPS as…

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11:00
06/23/17
06/23
11:00
06/23/17
11:00
General news
Breaking General news story  »

St. Louis Federal Reserve…

10:55
06/23/17
06/23
10:55
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10:55
General news
Euro$ interest rate futures are marginally lower »

Euro$ interest rate…

NVO

Novo Nordisk

$44.13

0.46 (1.05%)

10:52
06/23/17
06/23
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10:52
Hot Stocks
Novo Nordisk reports up to 13.8% weight loss in people receiving semaglutide »

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UPS

UPS

$110.54

1.469 (1.35%)

10:45
06/23/17
06/23
10:45
06/23/17
10:45
Options
UPS call volume above normal and directionally bullish »

Bullish option flow…

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  • 07

    Jul

WMGI

Wright Medical

$26.99

0.11 (0.41%)

10:45
06/23/17
06/23
10:45
06/23/17
10:45
Conference/Events
Wright Medical has a conference call hosted by JPMorgan »

JPMorgan Analyst Hanover…

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  • 23

    Jun

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    Jun

  • 28

    Jun

  • 03

    Jul

WDC

Western Digital

$90.25

-0.78 (-0.86%)

10:40
06/23/17
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10:40
Technical Analysis
Technical View: Western Digital trades higher as Toshiba indicates open to talks »

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SNCR

Synchronoss

$12.18

1.53 (14.37%)

10:31
06/23/17
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10:31
Hot Stocks
Synchronoss confirms receipt of Siris Capital indication of interest »

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TGT

Target

$50.81

0.175 (0.35%)

10:31
06/23/17
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10:31
Periodicals
Target starts removing all Hampton Creek products from stores, Bloomberg reports »

Target is voluntarily…

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10:30
06/23/17
06/23
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General news
The 2.9% May U.S. new home sales rise »

The 2.9% May U.S. new…

YY

YY

$58.32

-0.66 (-1.12%)

10:28
06/23/17
06/23
10:28
06/23/17
10:28
Conference/Events
YY management to meet with Jefferies »

Meeting to be held in New…

03/08/13
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  • 27

    Jun

SYY

Sysco

$50.78

-1.9958 (-3.78%)

, USFD

US Foods

$26.33

-1.275 (-4.62%)

10:27
06/23/17
06/23
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10:27
Hot Stocks
JPMorgan sees food distributors facing competition from Amazon »

Noting that Amazon's…

SYY

Sysco

$50.78

-1.9958 (-3.78%)

USFD

US Foods

$26.33

-1.275 (-4.62%)

PFGC

Performance Food Group

$26.00

-1.25 (-4.59%)

AMZN

Amazon.com

$1,001.30

-0.93 (-0.09%)

WFM

Whole Foods

$43.20

-0.06 (-0.14%)

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  • 28

    Jun

ALGN

Align Technology

$149.69

0.27 (0.18%)

10:25
06/23/17
06/23
10:25
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10:25
Conference/Events
Stifel medical technology analysts hold an analyst/industry conference call »

Research Team discusses…

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  • 23

    Jun

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