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BIIB

Biogen

$318.11

-0.21 (-0.07%)

, LLY

Eli Lilly

09:25
11/23/16
11/23
09:25
11/23/16
09:25

Citi sees four reasons why Biogen Alzheimer's drug can still work

Citi analyst Robyn Karnauska sees four reasons why Biogen's (BIIB) Alzheimer's drug aducanumab can still work following the failure of Eli Lilly's (LLY) solanezumab. The analyst lists difference in mechanism of action, efficacy in an end-point-dependent manner, patient population and endpoints as why she thinks Biogen's drug can have a different outcome than Lilly's. The analyst has a Neutral rating on Biogen with a $305 price target.

BIIB

Biogen

$318.11

-0.21 (-0.07%)

LLY

Eli Lilly

  • 29

    Nov

  • 04

    Dec

BIIB Biogen
$318.11

-0.21 (-0.07%)

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."
11/23/16
SBSH
11/23/16
NO CHANGE
Target $305
SBSH
Neutral
Citi pegs potential Biogen downside to $287 on Lilly failure
In a research note dated yesterday, Citi analyst Robyn Karnauskas said shares of Biogen (BIIB) could fall to $286 should Eli Lilly's (LLY) Alzheimer's drug solanezumab fail in its Phase 3 study. After Lilly reported this morning that the trial failed, shares of Biogen are down 6%, or $18.60, to $299.51 in pre-market trading. Shares of Lilly are down 14%, or $10.77, to $65.22. Karnauskas estimated the downside range of Biogen on a failed solanezumab study at $287-$306. The analyst has a Neutral rating on Biogen.
11/23/16
PIPR
11/23/16
NO CHANGE
PIPR
Overweight
Piper's Schimmer proclaims amyloid hypothesis is not dead
Piper Jaffray analyst Joshua Schimmer says the failure of Eli Lilly's (LLY) solanezumab is not the final nail in the amyloid hypothesis coffin. Biogen (BIIB) and Eisai's aducanimab study is the most potent approach for amyloid lowering, Schimmer tells investors in a research note. He points out that he was skeptical whether solanezumab's effect was adequate. "Our view of Alzheimer's for amyloid is informed not so much by the extremely sloppy science in that disease, but by consistent cause/effect signals across other amyloidosis," Schimmer writes. He believes today's selloff in shares of Biogen "creates some breathing room." The analyst recommends looking to build a position in Biogen after the stock settles down. Schimmer reiterates an Overweight rating on the shares with a $335 price target. The stock is down 8%, or $24.41, to $293.70 in pre-market trading.
11/23/16
MSCO
11/23/16
NO CHANGE
MSCO
Overweight
Morgan Stanley expects big reversal today in Biogen shares
Morgan Stanley Matthew Harrison expects shares of Biogen (BIIB) to end the trading day flat or slightly higher. The stock is currently down $26.61, or 8%, to $291.50 in pre-market trading. With Biogen's aducanumab more potent than Eli Lilly's solanezumab, the Alzheimer's drug still has potential for success, Harrison tells investors in a research note. He points out that Lilly management noted that "the study results, including many secondary clinical endpoints, directionally favored solanezumab." Harrison sees hope in the amyloid hypothesis. The analyst has an Overweight rating on Biogen.
LLY Eli Lilly

11/23/16
JPMS
11/23/16
NO CHANGE
Target $85
JPMS
Overweight
JPMorgan sees 'attractive opportunity' amid Eli Lilly selloff
JPMorgan analyst Chris Schott lowered his price target for Eli Lilly to $85 from $95 after the phase III trial of solanezumab missed on both primary and secondary endpoints. Beyond solanezumab, Lilly has a diverse range of new product opportunities that support 5% sales and mid-teens earnings growth, Schott tells investors in a research note. With the shares down 13% to $65.81 in pre-market trading, the analyst sees an "attractive opportunity." He keeps an Overweight rating on Lilly.
11/23/16
JEFF
11/23/16
NO CHANGE
Target $100
JEFF
Buy
Eli Lilly still expects to grow revenue, says Jefferies
Jefferies analyst Jeffrey Holford says that while the solanezumab Phase III trial failure is disappointing, Eli Lilly management expects to grow revenue between 2015 and 2020 while expanding margins. Further, the company is still pursuing the Alzheimer's indication though a number of other programs, Holford tells investors in a research note. The analyst previously estimated a negative solanezumab trial outcome could see the stock down $12. Shares of Lilly are currently down $10.19 to $65.80 in pre-market trading. Holford keeps a Buy rating on Lilly with a $100 price target.

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Hi-Crush Partners

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0.3 (3.06%)

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$24.47

-3.54 (-12.64%)

, DSNKY

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VFC

VF Corp.

$62.20

0.35 (0.57%)

, UAA

Under Armour

$16.41

-0.08 (-0.49%)

05:31
09/25/17
09/25
05:31
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05:31
Downgrade
VF Corp., Under Armour, Under Armour rating change  »

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VFC

VF Corp.

$62.20

0.35 (0.57%)

UAA

Under Armour

$16.41

-0.08 (-0.49%)

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Under Armour

$15.04

-0.09 (-0.59%)

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UAA

Under Armour

$16.41

-0.08 (-0.49%)

, UA

Under Armour

$15.04

-0.09 (-0.59%)

05:28
09/25/17
09/25
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Upgrade
Under Armour, Under Armour, VF Corp. rating change  »

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UAA

Under Armour

$16.41

-0.08 (-0.49%)

UA

Under Armour

$15.04

-0.09 (-0.59%)

VFC

VF Corp.

$62.20

0.35 (0.57%)

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  • 03

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SNAP

Snap

$13.70

-0.07 (-0.51%)

05:24
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Snap analyst commentary  »

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CMP

Compass Minerals

$60.10

-9.4 (-13.53%)

05:20
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COR

CoreSite Realty

$108.49

-1.86 (-1.69%)

05:18
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  • 26

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ROST

Ross Stores

$60.89

-0.02 (-0.03%)

05:17
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OFC

Corporate Office Properties

$32.53

-0.13 (-0.40%)

05:11
09/25/17
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Upgrade
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ABMRF

ABN Amro

05:08
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GM

General Motors

$39.42

0.32 (0.82%)

05:05
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NGLOY

Anglo American

$9.12

-0.1 (-1.08%)

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NTB

Butterfield

$36.57

0.45 (1.25%)

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VSAR

Versartis

$2.68

-18.925 (-87.62%)

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Conference/Events
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HSC

Harsco

$19.75

0.35 (1.80%)

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Conference/Events
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IIVI

II-VI

$40.40

0.45 (1.13%)

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Conference/Events
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AMCX

AMC Networks

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HES

Hess Corp.

$44.50

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