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CERU

Cerulean

$0.68

-0.0168 (-2.41%)

, NVS

Novartis

$76.31

0.73 (0.97%)

08:08
10/19/16
10/19
08:08
10/19/16
08:08

Cerulean announces strategic collaboration with Novartis

Cerulean Pharma (CERU) announced that the company has entered into a strategic collaboration with Novartis (NVS) to develop NDC product candidates combining Cerulean's proprietary Dynamic Tumor Targeting technology with Novartis' proprietary compounds directed at up to five targets. Cerulean will create NDC candidates, and Novartis is responsible for further development and commercialization of NDC products resulting from the collaboration. Under terms of the agreement, Cerulean will receive an upfront payment of $5M plus funding for five full-time equivalents. Cerulean is also eligible to receive preclinical, clinical, regulatory, and sales milestones for each target. In addition, following regulatory approval of NDC products, Cerulean can earn single-digit to low double-digit tiered royalties on net sales for each NDC product.

CERU

Cerulean

$0.68

-0.0168 (-2.41%)

NVS

Novartis

$76.31

0.73 (0.97%)

  • 11

    Nov

CERU Cerulean
$0.68

-0.0168 (-2.41%)

08/18/16
JMPS
08/18/16
DOWNGRADE
JMPS
Market Perform
Cerulean downgraded to Market Perform from Outperform at JMP Securities
JMP Securities analyst Michael King downgraded Cerulean after the company announced negative top-line results from a study of its CRLX101 drug in patients with advanced renal cell carcinoma. Noting that the study indicated that there was no difference between the results of patients taking CRLX101 and those taking the standard treatment, King says that the stock is fairly valued at current levels.
08/18/16
ROTH
08/18/16
NO CHANGE
Target $2.5
ROTH
Buy
Roth Capital trims Cerulean price target, but remains a buyer
Roth Capital analyst Joseph Pantginis lowered his price target for Cerulean to $2.50 from $9 after the company's Phase 2 clinical trial of CRLX101 for advanced renal cell carcinoma, or RCC, demonstrated no statistically significant difference. Nonetheless, with a platform technology providing long-term pipeline fill and improvements in tumor targeting, Pantginis believes Cerulean remains an attractive opportunity despite the failure in late-stage RCC. He reiterates a Buy rating on the shares.
08/18/16
08/18/16
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. Twitter (TWTR) downgraded to Sell from Hold at Evercore ISI with analyst Ken Sena saying he sees "more risk than reward" ahead of Snapchat's anticipated monetization ramp this fall. 2. Ambev (ABEV) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Jeronimo De Guzman saying valuation is full and sees difficult near-term trends ahead given lower disposable income, volume weakness, and lower realized pricing. 3. Icahn Enterprises (IEP) downgraded to Sell from Neutral at UBS saying the company's net asset value, despite declining 49% since second quarter of 2015, seems to include optimistic valuations. 4. Cerulean (CERU) downgraded to Neutral from Buy at Janney Capital, to Market Perform from Outperform at Leerink, and to Market Perform from Outperform at JMP Securities. 5. Magellan Midstream (MMP) downgraded to Underweight at Morgan Stanley with analysts led by Tom Abrams citing a relatively high valuation as the number of lower multiple investment choices has increased. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/18/16
WEDB
08/18/16
DOWNGRADE
WEDB
Neutral
Cerulean downgraded to Neutral from Outperform at Wedbush
NVS Novartis
$76.31

0.73 (0.97%)

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.
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.
10/13/16
JEFF
10/13/16
DOWNGRADE
Target $36
JEFF
Hold
Pfizer downgraded to Hold from Buy at Jefferies
Jefferies analyst Jeffrey Holford downgraded Pfizer (PFE) to Hold citing a lack of positive catalysts. The analyst says the drivers for his upgrade to Buy have either played out or have not materialized, namely an inversion or GEP unit separation. To reflect the infusion business disposal and weaker Ibrance trends, Holford cut his mid-term earnings estimates for Pfizer by up to 7% and cut his price target for the shares to $36 from $39. The stock closed yesterday down 6c to $33.07. The analyst also sees increased risk of a major acquisition occurring over the next 12 months. In the global pharma space, Holford lists AbbVie (ABBV), Eli Lilly (LLY), Novartis (NVS) and AstraZeneca (AZN) as his top picks.

TODAY'S FREE FLY STORIES

RNVA

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Cigna

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DDAIF

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WPZ

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YUM

Yum! Brands

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ICPT

Intercept

$61.59

-12.11 (-16.43%)

09:30
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SMMF

Summit Financial Group

$25.01

0.22 (0.89%)

09:30
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Downgrade
Summit Financial Group rating change  »

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PCMI

PCM, Inc.

$13.20

0.2 (1.54%)

09:29
09/25/17
09/25
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09:29
Hot Stocks
PCM, Inc. acquires Stack Technology, subsidiaries »

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  • 28

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BIIB

Biogen

$318.46

3.43 (1.09%)

, NVO

Novo Nordisk

09:28
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Biogen apponts Camille Lee as SVP, Alzheimer's Disease Therapeutic Area »

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$318.46

3.43 (1.09%)

NVO

Novo Nordisk

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09:27
09/25/17
09/25
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09:27
Conference/Events
Wells Fargo financial team holds an analyst/industry conference call »

Wells Fargo Financial…

EXEL

Exelixis

$24.47

-3.54 (-12.64%)

, PTN

Palatin

09:24
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EXEL

Exelixis

$24.47

-3.54 (-12.64%)

PTN

Palatin

AGN

Allergan

ICPT

Intercept

$61.59

-12.11 (-16.43%)

GPC

Genuine Parts

TGT

Target

LLY

Eli Lilly

AAPL

Apple

$151.89

-1.5 (-0.98%)

03/08/13
Wedge Partners
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TSLA

Tesla

$351.09

-15.39 (-4.20%)

, GM

General Motors

09:24
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09/25
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Periodicals
China may ease foreign automaker rules aiding Tesla, WSJ reports »

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TSLA

Tesla

$351.09

-15.39 (-4.20%)

GM

General Motors

VLKAY

Volkswagen

$34.57

0.46 (1.35%)

F

Ford

03/08/13
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03/06/13
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  • 25

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SBRA

Sabra Health Care

$22.21

0.03 (0.14%)

09:23
09/25/17
09/25
09:23
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09:23
Initiation
Sabra Health Care initiated  »

Sabra Health Care…

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  • 26

    Sep

09:20
09/25/17
09/25
09:20
09/25/17
09:20
General news
Treasury Action: supply is on tap this week »

Treasury Action: supply…

SPX

S&P 500

, VIX

Volatility Index S&P 500 Options

09:18
09/25/17
09/25
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09:18
Options
Overnight activity included 98 trades in SPX and 33 trades in VIX »

98 trades were executed…

SPX

S&P 500

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Volatility Index S&P 500 Options

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NTNX

Nutanix

$24.50

1.04 (4.43%)

09:17
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AMZN

Amazon.com

$955.10

-9.55 (-0.99%)

09:16
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TUWOY

Tullow Oil

$1.19

0.08 (7.21%)

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AAPL

Apple

$151.89

-1.5 (-0.98%)

, S

Sprint

09:14
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Recommendations
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AAPL

Apple

$151.89

-1.5 (-0.98%)

S

Sprint

STM

STMicroelectronics

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FINL

Finish Line

$9.73

0.51 (5.53%)

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CCL

Carnival

$64.33

-0.12 (-0.19%)

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  • 25

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YUM

Yum! Brands

09:13
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Conference/Events
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  • 27

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AMZN

Amazon.com

$955.10

-9.55 (-0.99%)

09:12
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  • 03

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MSM

MSC Industrial

09:11
09/25/17
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Initiation
MSC Industrial initiated  »

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