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BIIB

Biogen

$318.11

-0.21 (-0.07%)

, LLY

Eli Lilly

09:31
11/23/16
11/23
09:31
11/23/16
09:31

Biogen selloff may be an overreaction, says Jefferies

Jefferies analyst Brian Abrahams believes selloff in shares of Biogen (BIIB) following Eli Lilly's (LLY) Alzheimer's failure may be an overreaction. Signals of activity seen for Lilly's sola "do maintain some possibility" that Biogen's aducanumab could "ultimately make it over the line," Abrahams tells investors in a research note. He keeps a Hold rating on Biogen with a $310 price target, however, viewing the risk/reward as balanced.

BIIB

Biogen

$318.11

-0.21 (-0.07%)

LLY

Eli Lilly

  • 29

    Nov

  • 04

    Dec

BIIB Biogen
$318.11

-0.21 (-0.07%)

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.
11/23/16
SBSH
11/23/16
NO CHANGE
Target $305
SBSH
Buy
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.
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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NXTM

NxStage Medical

$23.46

0.13 (0.56%)

21:43
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BL

BlackLine

$37.80

-0.26 (-0.68%)

20:56
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06/26
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BlackLine initiated at SunTrust »

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ULTI

Ultimate Software

$221.91

-0.25 (-0.11%)

20:56
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Ultimate Software initiated at SunTrust »

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CRM

Salesforce

$88.11

-0.51 (-0.58%)

20:56
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Salesforce initiated at SunTrust »

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EVBG

Everbridge

$24.66

-0.3 (-1.20%)

20:56
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Everbridge initiated at SunTrust »

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RNG

RingCentral

$37.65

-1 (-2.59%)

20:56
06/26/17
06/26
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Initiation
RingCentral initiated at SunTrust »

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WK

Workiva

20:56
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HUBS

HubSpot

$68.20

-0.7 (-1.02%)

20:56
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HubSpot initiated at SunTrust »

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HUBS

HubSpot

$68.20

-0.7 (-1.02%)

20:55
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Initiation
HubSpot initiated at SunTrust »

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QTWO

Q2 Holdings

20:55
06/26/17
06/26
20:55
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Initiation
Q2 Holdings initiated at SunTrust »

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INST

Instructure

$29.55

0.4 (1.37%)

20:55
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06/26
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Initiation
Instructure initiated at SunTrust »

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MANH

Manhattan Associates

20:55
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Manhattan Associates initiated at SunTrust »

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PCTY

Paylocity

$47.39

-1.65 (-3.36%)

20:55
06/26/17
06/26
20:55
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20:55
Initiation
Paylocity initiated at SunTrust »

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SHOP

Shopify

$92.04

-2.44 (-2.58%)

20:55
06/26/17
06/26
20:55
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20:55
Initiation
Shopify initiated at SunTrust »

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LH

LabCorp

$152.30

0.68 (0.45%)

20:10
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Downgrade
LabCorp rating change at KeyBanc »

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ATXI

Avenue Therapeutics

20:06
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Syndicate
Avenue Therapeutics 5.5M share IPO priced at $6.00 »

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NXPI

NXP Semiconductors

$109.73

-0.25 (-0.23%)

20:05
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  • 26

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PDCE

PDC Energy

$42.88

-1.84 (-4.11%)

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MRIN

Marin Software

$1.18

0.025 (2.17%)

19:17
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GM

General Motors

$34.52

0.32 (0.94%)

19:15
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Earnings
General Motors: Previous FY17 EPS view unchanged »

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