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ALDR

Alder Biopharmaceuticals

$26.45

-2.3 (-8.00%)

, TEVA

Teva

$38.80

0.24 (0.62%)

07:50
11/22/16
11/22
07:50
11/22/16
07:50

Alder Biopharmaceuticals patent fight far from over, says Leerink

Leerink analyst Joseph Schwartz says Alder Biopharmaceuticals (ALDR) stated that the European Patent Office issued a ruling revoking all claims in its competitor Teva's (TEVA) patent relating to CGRP antagonist antibodies but maintaining and narrowing claims relating to the use of CGRP antagonist antibodies in human therapy to the prevention or treatment of headache such as migraine and cluster headache. The analyst notes that the persistence of the headache claims has concerned investors, but points out that Alder believes the patent fight is far from over in the EU, or moreover in the U.S. Schwartz reiterates an Outperform rating on Alder's shares.

ALDR

Alder Biopharmaceuticals

$26.45

-2.3 (-8.00%)

TEVA

Teva

$38.80

0.24 (0.62%)

  • 29

    Nov

ALDR Alder Biopharmaceuticals
$26.45

-2.3 (-8.00%)

11/10/16
BMOC
11/10/16
INITIATION
Target $42
BMOC
Outperform
Alder Biopharmaceuticals initiated with an Outperform at BMO Capital
BMO Capital initiated Alder Biopharmaceuticals with an Outperform rating and $42 price target.
11/10/16
BMOC
11/10/16
INITIATION
Target $42
BMOC
Outperform
Alder Biopharmaceuticals initiated with an Outperform at BMO Capital
Analyst Matthew Luchini initiated Alder Biopharmaceuticals with an Outperform and a $42 price target.
11/11/16
11/11/16
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. Aegerion (AEGN) resumed with a Neutral at JPMorgan. 2. Lamb Weston (LW) initiated with a Buy at Stifel, initiated with an Overweight at Barclays, and an Equal Weight at Morgan Stanley. 3. bluebird bio (BLUE) initiated with a Market Perform at BMO Capital. 4. Alder Biopharmaceuticals (ALDR) initiated with an Outperform at BMO Capital. 5. ACADIA (ACAD) initiated with a Neutral at Goldman. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/22/16
JEFF
11/22/16
NO CHANGE
Target $46
JEFF
Buy
Alder Biopharmaceuticals price target lowered to $46 from $57 at Jefferies
Jefferies analyst Brian Abrahams lowered his price target for Alder Biopharmaceuticals (ALDR) to $46 after the European Patent Office upheld Teva's (TEVA) key claims. The analyst see opportunity for Alder to prevail on appeal, but notes it will take some time. He keeps a Buy rating on Alder shares.
TEVA Teva
$38.80

0.24 (0.62%)

11/16/16
LEER
11/16/16
NO CHANGE
Target $43
LEER
Outperform
Teva price target lowered to $43 from $57 at Leerink
Leerink analyst Jason Gerberry lowered his price target for Teva to $43 from $57 after the company missed his Q3 sales forecast and lowered 2016 sales and EPS guidance. The analyst remains skeptical Teva's generic business can grow at the mid-single-digit level guided to by management and views prior 2017-19 guidance as unachievable. Nonetheless, Gerberry reiterates an Outperform rating on the shares based on valuation as all risk factors are widely understood/appreciated by the Street, and Teva does possess an "interesting" generics pipeline and a few emerging pipeline brands that collectively have the potential to partially mitigate Copaxone erosion.
11/16/16
11/16/16
DOWNGRADE
Target $42

Equal Weight
Teva downgraded to Equal Weight on Copaxone risk at Morgan Stanley
As previously reported, Morgan Stanley downgraded Teva to Equal Weight from Overweight and lowered its price target to $42 from $63. Analyst David Risinger is now factoring in greater Copaxone generic risk and expects management to lower long-term guidance in early 2017.
11/16/16
11/16/16
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. Sysco (SYY) downgraded to Neutral from Outperform at Credit Suisse with analyst Edward Kelly saying Sysco shares are up 50% over the last 18 months and now views risk/reward as balanced. 2. Teva (TEVA) downgraded to Hold from Buy at Jefferies, to Equal Weight from Overweight at Morgan Stanley, and to Neutral from Buy at BTIG. 3. Bank of America (BAC) Capital One (COF) downgraded to Neutral from Outperform at Baird while the firm downgraded Fifth Third (FITB) to Underperform from Neutral. 4. Zions Bancorp (ZION) downgraded to Equal Weight from Overweight at Morgan Stanley and to Market Perform from Outperform at Bernstein. 5. Yingli Green Energy (YGE) downgraded to Sell from Buy at Axiom while the firm downgraded SolarCity (SCTY) and JA Solar (JASO) to Sell from Hold. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/17/16
MAXM
11/17/16
NO CHANGE
Target $52
MAXM
Buy
Teva price target lowered to $52 from $72 at Maxim
Maxim analyst Gabrielle Zhou lowered her price target for Teva to $52 from $72 after the company reported Q3 results and cut it full-year guidance. The analyst notes that the company has started its Actavis integration, with the latter now contributing to Teva's generic revenues. However, she believes Teva needs to focus now on growth, noting that 2017 will be a challenge. Zhou reiterates a Buy rating on Teva's shares.

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