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COST

Costco

$152.67

1.5 (0.99%)

, MYL

Mylan

$36.32

-0.36 (-0.98%)

14:11
11/23/16
11/23
14:11
11/23/16
14:11

Costco pharmacy directors accused of kickback scheme in Canada, STAT reports

The Ontario College of Pharmacists alleged that two Costco (COST) pharmacy directors illegally accepted "rebates" between April 2013 and December 2015 related to an alleged scheme in which generic drug makers are said to have paid to have their medicines stocked by the retailer, said STAT. The companies named in allegations are Mylan (MYL), Teva (TEVA), Pharmascience, Actavis, which was recently sold by Allergan (AGN) to Teva, and Ranbaxy (RBXLY), the report noted. A Costco spokesman told STAT: "We confirm that there has been no finding that Costco's pharmacies or any of its employees have acted in contravention of Ontario's regulatory regime. We are confident that we have acted appropriately and in accordance with current Ontario guidelines and regulations." Reference Link

COST

Costco

$152.67

1.5 (0.99%)

MYL

Mylan

$36.32

-0.36 (-0.98%)

TEVA

Teva

$37.76

-0.07 (-0.19%)

AGN

Allergan

$191.46

2.62 (1.39%)

RBXLY

Ranbaxy

  • 29

    Nov

  • 28

    Mar

COST Costco
$152.67

1.5 (0.99%)

11/09/16
11/09/16
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. Costco (COST) upgraded to Buy from Hold at Edward Jones. 2. U.S. Steel (X) and Commercial Metals (CMC) were upgraded to Buy from Hold at Jefferies. 3. Sysco (SYY) upgraded to Equal Weight from Underweight at Barclays with analyst Karen Short citing greater confidence in the company's three-year plan following its first quarter results. 4. Lockheed Martin (LMT) upgraded to Buy from Hold at Deutsche Bank with analyst Myles Walton saying 2016 should be the first year of positive defense spending outlays since 2010 after the Republicans retained control of Congress and added the White House. 5. McKesson (MCK) upgraded to Buy from Neutral at Mizuho with analyst Ann Hynes saying she believes rhetoric on drug pricing will now "diminish significantly" following Donald Trump's presidential victory. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/09/16
EDJN
11/09/16
UPGRADE
EDJN
Buy
Costco upgraded to Buy from Hold at Edward Jones
10/20/16
OPCO
10/20/16
NO CHANGE
Target $112
OPCO
Outperform
MasterCard price target raised to $112 from $104 at Oppenheimer
Oppenheimer analyst Glenn Greene raised his price target for MasterCard (MA) to $112 from $104 ahead of results, saying he is encouraged by "solid" intra-quarter volume growth, improving FX trends, steady retail sales growth, and broadly positive card issuer trends. However, he prefers Visa (V) relative to MasterCard at present given the expected U.S. volume boost from the Costco (COST)/USAA wins and accretion benefits from the Visa Europe acquisition. The analyst reiterates an Outperform rating on MasterCard and Visa shares.
10/19/16
10/19/16
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. Twitter (TWTR) upgraded to Hold from Sell at Loop Capital with analyst Blake Harper saying downside is limited, even if the Q3 results disappoint, as there is "essentially a floor on the value of shares given the M&A speculation." 2. Costco (COST) upgraded to Buy from Neutral at Northcoast with analyst Chuck Cerankosky saying he expects a stronger earnings improvement in 2018 and believes the performance will reflect a $5 membership increase in the US and Canada. 3. Yum! Brands (YUM) upgraded to Outperform from Neutral at Credit Suisse with analyst Jason West citing a bullish outlook for the "New Yum" non-China, which will begin to trade on a standalone basis on November 1. 4. America's Car-Mart (CRMT) upgraded to Buy from Underperform at BofA/Merrill with analyst Elizabeth Suzuki saying she believes competition in the subprime auto market is beginning to ease and said she is seeing signs of credit tightening at other subprime lenders which should benefit Car-Mart. 5. Alon USA Partners (ALDW) and Western Refining (WNR) 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.
MYL Mylan
$36.32

-0.36 (-0.98%)

10/10/16
WELS
10/10/16
NO CHANGE
WELS
Mylan settlement does not end EpiPen issue, says Wells Fargo
In a research note titled "Forget After Hrs. Quarterbacking - It is Not Back to Normal," Wells Fargo analyst David Maris says Mylan questions still remain after the company's lowered 2016 outlook and $465M Department of Justice settlement. One of Mylan's earnings levers, EpiPen pricing, is now off the table going forward, Maris tells investors in a research note. The analyst disagrees with investors that think the settlement puts the EpiPen pricing issue largely behind the company. The deal with the DOJ addresses only the Centers for Medicare and Medicaid Services portion of the issue, it does nothing to answer the original issue of EpiPen pricing and consumers, Maris contends. He points out that Mylan also disclosed in Friday's regulatory filing, but not in its press release, an SEC investigation by the Division of Enforcement. Maris says he's "not too excited" and doesn't gauge how good the news is by the after-hours share rally of 10%. He believes Mylan is "not back to normal" and keeps a Market Perform rating on the stock with a $43-$45 price target range. The shares are up 12% in pre-market trading to $40.35. Raymond James this morning upgraded Mylan to Strong Buy.
10/10/16
10/10/16
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. Mylan (MYL) upgraded to Strong Buy from Market Perform at Raymond James with Elliot WIlbur saying the Department of Justice settlement over EpiPen rebates eliminates a significant overhang on shares enabling the focus to be back on fundamentals. 2. Under Armour (UA) upgraded to Outperform from Market Perform at Wells Fargo with analyst Tom Nikic saying "noise" from the Sports Authority's bankruptcy is fading while distribution expansion could lead to sales re-acceleration over the next 12-18 months. 3. Deere (DE) and AGCO (AGCO) were upgraded to Outperform from Market Perform at Wells Fargo. 4. Dow Chemical (DOW) upgraded to Buy from Neutral at UBS with analyst John Roberts saying the merger with DuPont (DD) could gain regulatory approval and that the stock is "now too cheap to ignore." 5. Exelixis (EXEL) upgraded to Overweight from Neutral at Piper Jaffray with analyst Edward Tenthoff saying the data are "good enough" to file a supplemental new drug application and could drive off-label front-line RCC use. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/25/16
MZHO
10/25/16
INITIATION
Target $49
MZHO
Buy
Mylan initiated with a Buy at Mizuho
Mizuho analyst Irina Koffler initiated Mylan with a Buy and a $49 price target.
10/26/16
10/26/16
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. Mylan (MYL) initiated with a Buy at Mizuho. 2. Five Below (FIVE) initiated with a Buy at Longbow. 3. NetSuite (N) reinstated with an Underperform at BofA/Merrill. 4. Adient (ADNT) initiated with a Buy at Northcoast. 5. Party City (PRTY) 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.
TEVA Teva
$37.76

-0.07 (-0.19%)

11/22/16
LEER
11/22/16
NO CHANGE
LEER
Outperform
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.
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.
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.
11/16/16
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.
AGN Allergan
$191.46

2.62 (1.39%)

11/04/16
UBSW
11/04/16
NO CHANGE
Target $240
UBSW
Buy
Allergan price target lowered to $240 from $300 at UBS
UBS analyst Marc Goodman lowered his price target on Allergan to $240 from $300 following disappointing Q3 results and a lowering of his estimates. However, Goodman reiterated his Buy rating on Allergan shares, on the belief it is still a good growth story, has an efficient tax structure and robust pipeline, and has the potential to put up double digit earnings growth for the rest of the decade.
11/21/16
WBLR
11/21/16
INITIATION
Target $209
WBLR
Market Perform
Allergan initiated with a Market Perform at William Blair
William Blair analyst Tim Lugo started Allergan with a Market Perform rating and $209 price target. The analyst views the company as high quality but sees headwinds in 2017 and 2018. Renewed competition for Botox could weigh on out-year estimates while a Namenda generic could come sooner than expected, Lugo tells investors in a research note.
11/21/16
11/21/16
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. Netflix (NFLX) initiated with a Buy at Brean Capital. 2. Allergan (AGN) initiated with a Market Perform at William Blair. 3. Myovant Sciences (MYOV) was initiated with an Overweight at Barclays, an Outperform at JMP Securities, an Outperform at Baird, a Buy at Citi, and an Outperform at Cowen. 4. RA Pharmaceuticals (RARX) was initiated with a Buy at Jefferies, a Buy at SunTrust, and an Outperform at Credit Suisse. 5. ZTO Express (ZTO) was initiated with a Buy ratings at Citi and Goldman and an Overweight at Morgan Stanley. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/23/16
JMPS
11/23/16
NO CHANGE
JMPS
Adamas could have positive read through from Allergan deal, says JMP Securities
After Adamas' partner, Allergan (AGN), agreed to buy Chase Pharmaceuticals, JMP Securities analyst Jason Butler thinks that the deal could have positive implications for Adamas Pharmaceuticals and its Alzheimer's treatment, Namzaric, a combination therapy which blocks a neutrotransmitter. The analyst says that the deal "reinforces Allergan's long-term commitment to neurotransmitter focused" Alzheimer;s treatments and provides the opportunity for Chase's drug to be combined with Namzaric. The analyst thinks that such a combined drug could gain additional market share. He keeps a $29 price target and an Outperform rating on Adamas.
RBXLY Ranbaxy

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