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AHPI

Allied Healthcare

$1.06

-0.08 (-7.02%)

, INSM

Insmed

$14.57

0.36 (2.53%)

13:28
11/25/16
11/25
13:28
11/25/16
13:28

Lung disease stocks advance after Actelion approached by J&J

After both Actelion (ALIOF), a Switzerland-based biopharmaceutical company, and drug giant Johnson & Johnson (JNJ) confirmed they were in preliminary discussions regarding a potential transaction, other drug companies that have lung disease treatments in their portfolio moved higher today. WHAT'S NEW: After an early day report from Bloomberg that J&J was in talks with the $19.9B Swiss drugmaker Actelion, both companies confirmed the talks in separate statements. According to the Bloomberg report, Actelion has developed two new lung treatments that are predicted to become blockbusters "over the next three years." Actelion's Opsumit and Uptravi drugs are used to treat pulmonary arterial hypertension or PAH. Industry experts say that bidding may push up the price for Actelion with other companies such as Sanofi (SNY) and Novartis (NVS) seen as potential suitors, the report says. PRICE ACTION: Shares of Actelion closed up almost 20% to $184 per share while shares of suitor Johnson & Johnson closed up 0.94% in a shortened post holiday session. OTHER DRUG COMPANIES WITH LUNG TREATMENTS: Shares of Allied Healthcare Products, Inc. (AHPI), Insmed Incorporated (INSM), ProQR Therapeutics N.V. (PRQR), and United Therapeutics Corporation (UTHR) all closed higher today.

AHPI

Allied Healthcare

$1.06

-0.08 (-7.02%)

INSM

Insmed

$14.57

0.36 (2.53%)

PRQR

ProQR Therapeutics

$4.35

-0.15 (-3.33%)

ALIOF

Actelion

$153.55

-3.24 (-2.07%)

JNJ

Johnson & Johnson

$114.13

1.06 (0.94%)

SNY

Sanofi

$39.84

0.4 (1.01%)

NVS

Novartis

$69.58

0.77 (1.12%)

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AHPI Allied Healthcare
$1.06

-0.08 (-7.02%)

INSM Insmed
$14.57

0.36 (2.53%)

06/09/16
LEER
06/09/16
NO CHANGE
Target $21
LEER
Outperform
Insmed withdrawal in Europe a minor setback, says Leerink
Leerink analyst Joseph Schwartz says Insmed decided to withdraw its Marketing Authorization Application from the European Medicines Agency for its Arikayce in treating patients with nontuberculous mycobacterium infections. The analyst sees this setback as minor as Phase 3 CONVERT study continues to enroll patients allowing the company to return with "better, more convincing" clinical data at a later date. Schwartz reiterates an Outperform rating on the stock but lowered his price target on the shares to $21 from $23.
06/09/16
PIPR
06/09/16
NO CHANGE
Target $24
PIPR
Overweight
Insmed withdrawal in Europe does little to change outlook, says Piper Jaffray
Piper Jaffray analyst Joshua Schimmer says Insmed's decision to withdraw its Marketing Authorization Application from the European Medicines Agency for Arikayce for the treatment of nontuberculous mycobacteria lung disease does little to change the company's outlook. Like the FDA, the European regulators want to see the results of the full Phase 3 Convert study, which will report in 2017, Schimmer tells investors in a research note. Success in the Phase 3 trial likely would have been needed to stay on the market anyways, the analyst contends. He keeps an Overweight rating on Insmed with a $24 price target.
03/15/16
STFL
03/15/16
INITIATION
Target $23
STFL
Buy
Insmed initiated with a Buy at Stifel
Target $23.
12/18/15
SBSH
12/18/15
DOWNGRADE
Target $7
SBSH
Neutral
Synergy Pharmaceuticals downgraded to Neutral from Buy at Citi
Citi analyst Liav Abraham downgraded Synergy Pharmaceuticals (SGYP) to Neutral saying the commercial potential of plecanatide will be "significantly lower" than that of Linzess. He also views the probability of a takeout of the company as less likely. The analyst cut his price target for the shares to $7 from $12. Abraham calls Synergy and Insmed (INSM) his least favored small-cap Specialty Pharma names for 2016.
PRQR ProQR Therapeutics
$4.35

-0.15 (-3.33%)

09/28/16
JANY
09/28/16
INITIATION
JANY
Neutral
ProQR Therapeutics initiated with a Neutral at Janney Capital
Janney Capital analyst Roy Buchanan initiated ProQR Therapeutics with a Neutral rating saying there is too much uncertainty ahead of important phase 2 data for its oligonucleotide candidate QR-010 in undefinedF508 cystic fibrosis in mid-October
ALIOF Actelion
$153.55

-3.24 (-2.07%)

JNJ Johnson & Johnson
$114.13

1.06 (0.94%)

10/19/16
UBSW
10/19/16
NO CHANGE
Target $144
UBSW
Buy
Johnson & Johnson has potential upside from expanding pipeline, says UBS
UBS analyst Matt Miksic noted Johnson & Johnson delivered a solid quarter and said he believes there is upside to his Buy thesis. The analyst cited the company's expanding pipeline, capital allocation strategy, and contracting across its broad portfolio and patient assistance programs is expected to help mitigate pressure from biosimilar competition. Miksic reiterated his Buy rating and raised his price target to $144 from $137 on Johnson & Johnson shares.
10/19/16
LEER
10/19/16
NO CHANGE
Target $140
LEER
Outperform
Johnson & Johnson should be bought on weakness, says Leerink
Leerink analyst Danielle Antalffy believes the recent selloff in Johnson & Johnson's shares was overdone and would recommend buying on weakness. The analyst views the company as well-equipped to manage the inevitable Remicade headwind and continues to believe Johnson & Johnson can drive improving top-line growth in 2017. She reiterates an Outperform rating and $140 price target on the shares.
10/18/16
UBSW
10/18/16
NO CHANGE
Target $137
UBSW
Buy
Johnson & Johnson robust pipeline underappreciated, says UBS
UBS analyst Matt Miksic said the Johnson & Johnson pipeline remains robust and is underappreciated. The analyst said the recent launch of biosimilars removes uncertainty and should be positive for the stock. He also expects the additional deployment of the company's capital - to expand its pipeline through in-licensing, partnerships or mid-sized acquisitions - to be incremental to his Buy thesis. Miksic has a $137 price target on Johnson & Johnson shares.
11/09/16
RBCM
11/09/16
NO CHANGE
RBCM
Johnson & Johnson should be bought on recent weakness, says RBC Capital
After meeting with J&J's VP, Investor Relations, RBC Capital analyst Glenn Novarro says that the company's Q3 pharma results indicate that the growth of its major drugs can more than offset any declines in Remicade sales next year. The analyst quotes J&J as saying that it has not been using price hikes to increase its sales, and he thinks that the company's diverse business model will allow it to avoid being hurt by any regulatory pressures. He is upbeat on the company's efforts to increase its margins and notes that its medical device results have improved. Novarro keeps a $133 price target and an Outperform rating on the shares.
SNY Sanofi
$39.84

0.4 (1.01%)

11/16/16
NEED
11/16/16
NO CHANGE
Target $98
NEED
Buy
Alnylam price target lowered to $98 from $137 at Needham
Needham analyst Alan Carr lowered his price target for Alnylam (ALNY) to $98 from $137 after the company announced that collaborator Sanofi (SNY) exercised its option to co-develop and co-commercialize fitusiran, with the analyst adjusting his models to reflect Sanofi taking greater share of revenue. He also notes that Alnylam's collaborator The Medicines Co. (MDCO) announced positive Phase 2 PCSK9 results. Carr reiterates a Buy rating on Alnylam's shares.
11/07/16
11/07/16
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. Alcoa (AA) initiated with a Buy at Citi, a Market Perform at Cowen, and an Overweight at Morgan Stanley. 2. Extraction (XOG) Oil & Gas initiated with an Overweight at Barclays, an Overweight at KeyBanc, a Sector Perform at RBC Capital, a Neutral at Citi, an Outperform at Wells Fargo, a Buy at SunTrust, and a Neutral at Goldman. 3. Hostess Brands (TWNK) initiated with a Buy at SunTrust and a Buy at SunTrust. 4. Sanofi (SNY) initiated with a Neutral at Goldman. 5. VimpelCom (VIP) initiated with an Outperform at Credit Suisse. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/07/16
LEER
11/07/16
NO CHANGE
Target $504
LEER
Outperform
Regeneron price target lowered to $504 from $513 at Leerink
Leerink analyst Geoffrey Porges lowered his price target for Regeneron (REGN) to $504 from $513 on valuation. Porges expects near-term volatility for the stock given questions regarding the upcoming second interim analysis of the Odyssey Outcomes trial for Praluent, the restart of trials for pain treatment fasinumab after the FDA's clinical hold, and the issues regarding development partner Sanofi's (SNY) fill-finish plant leading to sarilumab's Complete Response Letter last week. He reiterates an Outperform on Regeneron's shares.
11/07/16
GSCO
11/07/16
INITIATION
GSCO
Neutral
Sanofi initiated with a Neutral at Goldman
Price target EUR 83.
NVS Novartis
$69.58

0.77 (1.12%)

11/10/16
11/10/16
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. Priceline (PCLN) upgraded to Buy from Hold at Stifel while the firm upgraded Expedia (EXPE) to Hold from Sell. 2. IBM (IBM) upgraded to Buy from Neutral at BofA/Merrill with analyst Wamsi Mohan expecting 2017 profits to grow as earnings have stabilized and negative revisions are unlikely and expects tailwinds from moderating pace of investments and savings from restructuring efforts. 3. L-3 Communications (LLL) and Northrop Grumman (NOC) upgraded to Overweight from Equal Weight at Barclays while the firm upgraded Lockheed Martin (LMT) to Equal Weight from Underweight. 4. Microsoft (MSFT) upgraded to Neutral from Underweight at Atlantic Equities. 5. Novartis (NVS) upgraded to Buy from Hold at Argus. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/10/16
ARGS
11/10/16
UPGRADE
ARGS
Buy
Novartis upgraded to Buy from Hold at Argus
10/26/16
LEER
10/26/16
NO CHANGE
Target $80
LEER
Market Perform
Novartis price target lowered to $80 from $89 at Leerink
Leerink analyst Seamus Fernandez lowered his price target for Novartis to $80 from $89 after a "disappointing" Q3 performance despite bottom-line beat. The analyst reiterates a Market Perform rating on the shares.
10/20/16
JANY
10/20/16
NO CHANGE
Target $1.5
JANY
Neutral
Cerulean cash infusion gives chance to execute on programs, says Janney Capital
Janney Capital analyst Debjit Chattopadhyay said Cerulean's (CERU) collaboration with Novartis (NVS), which comes with a "modest" $5M upfront payment, and its $20M ATM facility with Aspire Capital, while "not ideal," gives management a chance to execute on three of its ongoing programs, the most important of which is the dose escalation study with Olaparib with partner AstraZeneca (AZN) that should have preliminary data in 2Q17. The analyst raised his fair value estimate on Cerulean to $1.50 from $1.00 and keeps a Neutral rating on the stock.

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SPX

S&P 500

05:55
06/23/17
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Technical Analysis
S&P 500: Pivot points »

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NVS

Novartis

$86.34

3.78 (4.58%)

05:52
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GDX

Market Vector Gold Miners

$22.36

0.25 (1.13%)

05:51
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Technical Analysis
Market Vector Gold Miners: Pivot points, pivot high broken »

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GLD

SPDR Gold Trust

$118.92

0.4 (0.34%)

05:50
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Technical Analysis
SPDR Gold Trust: Pivot points, pivot high broken »

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NVS

Novartis

$86.34

3.78 (4.58%)

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