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BIIB

Biogen

$318.11

-0.21 (-0.07%)

, MRK

Merck

$61.70

-0.6 (-0.96%)

06:53
11/23/16
11/23
06:53
11/23/16
06:53

Biogen drops 4%, Merck drops 1% following Lilly Alzheimer's failure

BIIB

Biogen

$318.11

-0.21 (-0.07%)

MRK

Merck

$61.70

-0.6 (-0.96%)

LLY

Eli Lilly

$75.99

-0.65 (-0.85%)

  • 29

    Nov

  • 03

    Dec

  • 04

    Dec

BIIB Biogen
$318.11

-0.21 (-0.07%)

11/07/16
MZHO
11/07/16
INITIATION
Target $290
MZHO
Neutral
Biogen initiated with a Neutral at Mizuho
Mizuho analyst Salim Syed initiated Biogen with a Neutral rating and a $290 price target.
11/09/16
RBCM
11/09/16
NO CHANGE
RBCM
Biotech stocks should be bought on post-election decline, says RBC Capital
RBC Capital recommends buying biotech stocks today on weakness. The firm notes that stocks usually rebound after they drop due to political events that don't affect their fundamentals, and it believes that the decline in biotech stocks today is in that category. The firm says that President-elect Trump probably won't focus on drug prices or Medicare reform. It adds that biotech companies should benefit from the fact that Congress will stay in GOP hands and the apparent failure of California's Proposition 61 initiative. The firm identifies Celgene (CELG), Biogen (BIIB), Vertex (VRTX), BioMarin (BMRN), and Prothena (PRTA) as its favorite names in the sector.
11/09/16
PIPR
11/09/16
NO CHANGE
PIPR
Piper sees improving environment for Biopharma M&A
The biotech sector is seeing a "massive relief rally" given the "surprise trifecta" of a Republican sweep, the voting down of Prop 61 in California and U.S. dollar weakness, Piper Jaffray analyst Joshua Schimmer tells investors in a research note. The door is now open to discuss potential repatriation of cash outside the U.S., which could be a green light on mergers and acquisitions, the analyst adds. He points out that Amgen (AMGN) and Gilead (GILD) hold the most overseas cash, with Celgene (CELG) and Biogen (BIIB) holding several billion as well. Schimmer believes the broader environment may be improving for M&A. He cautions, though, that the election of Trump does not remove the "major drug pricing overhang question."
11/08/16
11/08/16
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. Adient (ADNT) initiated with a Neutral at JPMorgan. 2. JinkoSolar (JKS) initiated with a Buy at Craig-Hallum. 3. Amgen (AMGN), Gilead (GILD), and Celgene (CELG) initiated with a Buy at Mizuho while the firm initiated Biogen (BIIB) with a Neutral. 4. BioScrip (BIOS) resumed with a Buy at Jefferies. 5. SQM (SQM) initiated with a Market Perform at BMO Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
MRK Merck
$61.70

-0.6 (-0.96%)

10/13/16
10/13/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Merck (MRK) upgraded to Buy from Neutral at BofA/Merrill with analyst Colin Bristow citing its opportunity in first line lung cancer. 2. Viacom (VIA, VIAB) upgraded to Market Perform from Underperform at Wells Fargo and to Buy from Underperform at BofA/Merrill. 3. TD Ameritrade (AMTD) and Charles Schwab (SCHW) were upgraded to Buy from Neutral at BofA/Merrill. 4. Talend (TLND) upgraded to Buy from Neutral at Goldman with analyst Jesse Hulsing saying the company will benefit from analytic workloads moving to the cloud. 5. CSC (CSC) upgraded to Buy from Neutral at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/19/16
LEER
10/19/16
NO CHANGE
LEER
Roche Tecentriq approval increases competition, says Leerink
Leerink analyst Seamus Fernandez says that the FDA approval of Roche's (RHHBY) Tecentriq in second-line non-small cell lung cancer patients regardless of PD-L1 expression comes as no surprise given its previously reported overall survival advantage. Nonetheless, the analyst believes it creates new competition for Bristol-Myers' (BMY) Opdivo and Merck's (MRK) Keytruda in this setting.
10/24/16
RHCO
10/24/16
NO CHANGE
RHCO
Merck Keytruda to have several positive catalysts, says SunTrust
SunTrust analyst John Boris says that several trials of Merck's Keytruda will be stopped early "across multiple tumor types," providing a positive catalyst. Boris says that Keytruda should be approved for 1LNSCLC on or before December 24 and KN-21 chemo combo compendium listing in 1H17. He keeps a $73 price target and Buy rating on Merck.
10/25/16
RHCO
10/25/16
NO CHANGE
RHCO
Merck shares should be bought after early FDA approval, says SunTrust
After Merck announced that the FDA had approved the company's Keytruda treatment for the first-line metastatic non-small cell lung cancer with tumor proportion scores of 50% or higher, SunTrust analyst John Boris says that such patients represent about 30% "of the prevalent first-line population." He adds that the approval was earlier than expected and gives Keytruda an approximately 15 month lead over competing drugs in NSCLC. The analyst thinks that the early approval will enable the company's 2021 revenue to beat expectations by a significant amount, and he recommends buying the stock on the news.
LLY Eli Lilly
$75.99

-0.65 (-0.85%)

11/11/16
JEFF
11/11/16
NO CHANGE
Target $100
JEFF
Buy
Jefferies bullish on Lilly regardless of Alzheimer's data
Jefferies analyst Jeffrey Holford believes shares of Eli Lilly "can work over time" regardless of Alzheimer's disease drug solanezumab's Phase III study outcome. The analyst, however, says he has enough confidence to recommend Lilly shares ahead of the EXPEDITION3 data readout. Holford increased his base case solanezumab peak sales to $5B. He says Lilly remains one of his top picks with a Buy rating and $100 price target.
11/09/16
SBSH
11/09/16
NO CHANGE
SBSH
Citi sees Healthcare 'relief rally' after Trump win
Citi analyst Andrew Baum expects a "'relief rally" to drive near-term sector outperformance for names in the Healthcare space given the "inability of the Democrats to attain the Presidency, the House or Congress." Longer term, however, the analyst still sees "significant continued legislative risk" for pharma reimbursement. Baum prefers GlaxoSmithKline (GSK), AstraZeneca (AZN), Shire (SHPG) and Roche (RHHBY) among European majors and Bristol-Myers (BMY) and Eli Lilly (LLY) in the U.S.
11/15/16
JPMS
11/15/16
NO CHANGE
Target $95
JPMS
Overweight
JPMorgan sees favorable risk/reward for Lilly into Alzheimer's data
JPMorgan analyst Chris Schott sees a favorable risk/reward profile for shares of Eli Lilly into the solanezumab data for Alzheimer's, which is expected by year-end. Favorable data from the EXPEDITION-3 trial would represent a catalyst not just for Lilly and other Alzheimer's associated names but for the biopharma space as a whole, Schott tells investors in a research note. The analyst expects 20%-plus share upside in the event the trial is successful on both primary and secondary endpoints. He assigns a 10%-20% probability to this outcome. Schott sees 10%-20% share upside for Lilly should the study hit on its primary but only shows a trend on secondary endpoints. He assigns a 50%-60% probability for this outcome. The analyst also sees a 10% move to the downside if the study fails both endpoints, an outcome he assigns a 20% probability. Schott reiterates an Overweight rating on Lilly with a $95 price target. He believes Lilly's "diverse range of pipeline opportunities" largely supports the valuation at current levels.
11/03/16
BMOC
11/03/16
NO CHANGE
BMOC
Eli Lilly factored pricing pressure into guidance, says BMO Capital
After meeting with Eli Lilly, BMO Capital analyst Alex Arfaei reports that the company seemed surprised at the intensity of investors' concerns about pricing pressure on it. The analyst says that the company anticipated pricing pressure and factored it into its guidance. The analyst keeps a $91 price target and an Outperform rating on the shares.

TODAY'S FREE FLY STORIES

FMSA

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COVS

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AMZN

Amazon.com

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AMC

AMC Entertainment

$32.65

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16:50
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MCFT

MCBC Holdings

$14.18

0.23 (1.65%)

16:43
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Syndicate
MCBC Holdings files to sell 1M shares of common stock for holders »

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ECC

Eagle Point Credit

$17.97

-0.03 (-0.17%)

16:42
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Syndicate
Eagle Point Credit files to sell 1.15M shares of common stock »

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16:39
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General news
Moody's changes outlook on Italy to negative from stable »

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DNB

Dun & Bradstreet

$123.83

2.42 (1.99%)

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MIND

Mitcham Industries

$3.73

0.04 (1.08%)

16:35
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Earnings
Mitcham Industries reports Q3 EPS (62c), consensus (43c) »

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CPG

Crescent Point Energy

$13.30

0.09 (0.68%)

16:35
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GLW

Corning

$24.58

0.59 (2.46%)

16:34
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Corning announces $4B share repurchase program »

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WTT

Wireless Telecom Group Inc

$1.58

0.01 (0.64%)

16:33
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Hot Stocks
Wireless Telecom Group Inc appoints Michael Kandell as CFO »

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ARGS

Argos Therapeutics

$4.85

0.1 (2.11%)

16:33
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Argos announces rocapuldencel-T as generic name for AGS-003 »

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  • 07

    Dec

WWE

WWE

$19.43

0.48 (2.53%)

16:33
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WWE co-founder says appointed by Trump to lead Small Business Administration »

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WPC

W.P. Carey

$59.52

1.08 (1.85%)

16:31
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Hot Stocks
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CM

CIBC

$83.70

1.28 (1.55%)

, PVTB

PrivateBancorp

$52.39

0.25 (0.48%)

16:30
12/07/16
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Conference/Events
PrivateBancorp to host special shareholder meeting »

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CM

CIBC

$83.70

1.28 (1.55%)

PVTB

PrivateBancorp

$52.39

0.25 (0.48%)

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  • 08

    Dec

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Options
Preliminary option volume of 21.5M today »

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CMTL

Comtech

$12.75

0.77 (6.43%)

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SKLN

Skyline Medical

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Skyline Medical

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Skyline Medical

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ZEN

Zendesk

$21.15

-0.02 (-0.09%)

16:25
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  • 07

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TYL

Tyler Technologies

$147.73

1.54 (1.05%)

16:24
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  • 13

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HRB

H&R Block

$23.34

0.65 (2.86%)

16:24
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Earnings
H&R Block reports Q2 continuing ops EPS (67c), consensus (68c) »

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  • 07

    Dec

TSN

Tyson Foods

$58.82

1.43 (2.49%)

16:24
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  • 07

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