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AMGN

Amgen

$142.39

-1.68 (-1.17%)

, AZN

AstraZeneca

$25.81

-0.33 (-1.26%)

04:55
12/02/16
12/02
04:55
12/02/16
04:55

American Association for Cancer Research to co-host symposium

The European Organisation for Research and Treatment of Cancer (EORTC), the National Cancer Institute (NCI) and the American Association for Cancer Research (AACR) host the 28th EORTC-NCI-AACR Symposium in Munich, Germany on November 29-December 2.

AMGN

Amgen

$142.39

-1.68 (-1.17%)

AZN

AstraZeneca

$25.81

-0.33 (-1.26%)

BAYRY

Bayer

$92.30

-1.42 (-1.52%)

BPMC

Blueprint Medicines

$28.00

-1.37 (-4.66%)

CELG

Celgene

$118.87

0.36 (0.30%)

CYCC

Cyclacel Pharmaceuticals

$4.17

0.23 (5.84%)

DMPI

DelMar Pharmaceuticals

$4.06

0.02 (0.50%)

DRNA

Dicerna

$2.94

-0.04 (-1.34%)

FPRX

Five Prime

$56.89

-0.63 (-1.10%)

GILD

Gilead

$72.84

-0.86 (-1.17%)

IMGN

ImmunoGen

$1.77

-0.01 (-0.56%)

JNJ

Johnson & Johnson

$111.38

0.08 (0.07%)

KPTI

Karyopharm

$9.03

-0.2 (-2.17%)

KURA

Kura Oncology

$5.55

0.7 (14.43%)

LLY

Eli Lilly

$65.97

-1.15 (-1.71%)

MACK

Merrimack

$5.10

-0.41 (-7.44%)

MRK

Merck

$60.76

-0.43 (-0.70%)

NVS

Novartis

$67.75

-1.01 (-1.47%)

OMED

OncoMed

$8.22

-0.27 (-3.18%)

PFE

Pfizer

$31.46

-0.68 (-2.12%)

PBYI

Puma Biotechnology

$39.50

-3.55 (-8.25%)

QGEN

QIAGEN

$26.89

-0.43 (-1.57%)

RHHBY

Roche

$27.30

-0.46 (-1.66%)

SNY

Sanofi

$39.72

-0.48 (-1.19%)

TSRO

TESARO

$130.76

-4.93 (-3.63%)

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AMGN Amgen
$142.39

-1.68 (-1.17%)

11/07/16
MZHO
11/07/16
INITIATION
Target $164
MZHO
Buy
Amgen initiated with a Buy at Mizuho
Mizuho analyst Salim Syed initiated Amgen with a Buy rating and a $164 price target.
11/08/16
ARGS
11/08/16
NO CHANGE
ARGS
Amgen weakness creates buying opportunity, says Argus
After Amgen's stock sunk 10% following its Q3 results, Argus says that the decline was triggered by "news that pricing power for Enbrel would be limited in 2017." However, the firm says that the company's growth outlook is "solid," while it has launched "promising new drugs." The firm keeps a Buy rating on the stock.
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.
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."
AZN AstraZeneca
$25.81

-0.33 (-1.26%)

11/28/16
SBSH
11/28/16
DOWNGRADE
Target $60
SBSH
Neutral
Citi analyst 'perturbed,' downgrades AbbVie to Neutral
Citi analyst Andrew Baum earlier today downgraded AbbVie (ABBV) to Neutral from Buy and lowered his price target for the shares to $60 from $65. The biopharmaceutical company is trading down 2%, or 99c, to $59.52. The risk to post 2017 consensus estimates for Humira has "increased on almost all fronts," Baum tells investors in a research note. The analyst sees increased patent risk and competition from biosimilar Enbrel in Europe. He also believes AstraZeneca (AZN) and Acerta's acalabrutinib "looks like a better mousetrap" than AbbVie's Imbruvica. Baum is also "perturbed" by AbbVie management's recent "rich" acquisition of Stemcentrx. He prefers shares of Eli Lilly (LLY) and Bristol-Myers (BMY) to AbbVie.
10/26/16
PIPR
10/26/16
NO CHANGE
PIPR
Neutral
Piper still uncertain on Clovis position after AstraZeneca data
AstraZeneca's (AZN) Phase III study of Lynparza in ovarian cancer "substantially improved" progression-free survival over what was seen in study 19, suggesting a profile at least similar to TESARO's (TSRO) niraparib, Piper Jaffray analyst Steven Breazzano tells investors in a research note. The new data confirm that the various PARP inhibitors are more similar than different, which bodes well for Clovis Oncology's (CLVS) own maintenance study, the analyst contends. Breazzano, however, remains the sidelines with respect to Clovis shares given the "increasingly competitive dynamic" in ovarian cancer and uncertainty in the company's position in the important maintenance setting. The analyst keeps a Neutral rating on Clovis.
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.
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.
BAYRY Bayer
$92.30

-1.42 (-1.52%)

09/15/16
PIPR
09/15/16
NO CHANGE
Target $128
PIPR
Overweight
Piper has confidence in closing of Monsanto, Bayer merger
Piper Jaffray analyst Brett Wong raised his price target for Monsanto (MON) to $128 citing the takeover price paid by Bayer (BAYRY). The analyst views the offer price as lower than expected but has confidence regulatory approval will be granted since there is a minimal crossover between the two companies. He reiterates an Overweight rating on Monsanto.
09/21/16
JPMS
09/21/16
UPGRADE
Target $128
JPMS
Overweight
Monsanto upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Jeffrey Zekauskas upgraded Monsanto (MON) to Overweight saying the risk in the shares is "less than what the market assumes." The analyst believes downside risk should the takeover by Bayer (BAYRY) fail is around $100 per share. He notes that Monsanto shareholders would receive $128 per share should the acquisition close. Zekauskas raised his price target for Monsanto to $128 from $100.
09/26/16
BERN
09/26/16
UPGRADE
BERN
Market Perform
Monsanto upgraded on acquisition at Bernstein
As noted earlier, Bernstein upgraded Monsanto (MON) to Market Perform from Underperform. Analyst Jonas Oxgaard upgraded the stock after Bayer (BAYRY) agreed to buy Monsanto. However, he warned that "it's too early to tell" whether regulators will approve the deal, and he says that the risk is "skewed to the downside in the near-term." He recommends that investors avoid the stock for 6-9 months. Target to $105 from $90.
09/15/16
BERN
09/15/16
NO CHANGE
BERN
Bayer acquisition negative, says Bernstein
After Bayer (BAYRY) agreed to buy Monsanto (MON), Bernstein analyst Jonas Oxgaard says he "continues to have a bearish view" of Monsanto's business, and he thinks that Monsanto's price exceeded the company's true value by about 60%. The analyst adds that the genetically modified products that Monsanto is developing "are not expected to command outsized premiums," while genetically modified seeds have nearly fully penetrated most of the Americas. He keeps an Underperform rating on Monsanto and an Outperform rating on Bayer.
BPMC Blueprint Medicines
$28.00

-1.37 (-4.66%)

11/29/16
WEDB
11/29/16
NO CHANGE
WEDB
Blueprint Medicines data 'highly encouraging,' says Wedbush
Wedbush analyst David Nierengarten says that Phase I data on Blueprint's BLU-554 for advanced HCC was "highly encouraging." The analyst says that the drug performed well compared with approved HCC therapies. Specifically, he believes that the 10% overall response rate and the fact that four out of ten patients showed radiographic tumor reductions are "promising" signs. The analyst reiterates a $41 price target and an Outperform rating on the stock.
11/11/16
ADAM
11/11/16
NO CHANGE
Target $35
ADAM
Buy
Blueprint Medicines price target raised to $35 from $26 at Canaccord
Canaccord analyst Arlinda Lee raised her target on Blueprint Medicines to $35 from $26 following company updates on its pipeline of novel, rationally designed, target kinase inhibitors. The analyst increased her probability of success for the company's three programs to 25% from 20% and maintained her Buy rating on Blueprint Medicines shares.
08/05/16
ADAM
08/05/16
INITIATION
Target $26
ADAM
Buy
Blueprint Medicines initiated with a Buy at Canaccord
Canaccord analyst Arlinda Lee initiated Blueprint Medicines with a Buy and $26 price target.
05/27/16
RAJA
05/27/16
INITIATION
Target $23
RAJA
Outperform
Blueprint Medicines initiated with an Outperform at Raymond James
Raymond James analyst Chris Raymond initiated Blueprint Medicines with an Outperform rating and $23 price target. The analyst thinks Blueprint's unique kinase inhibitor discovery platform is well-positioned to generate novel compounds for years to come. Coupling this with a clinical stage pipeline that remains wholly-owned, key proof-of-concept data for two products,BLU-285 and BLU-554, in three different indications by year end 2015, and a valuation offering favorable risk/reward.
CELG Celgene
$118.87

0.36 (0.30%)

11/23/16
PIPR
11/23/16
NO CHANGE
PIPR
Piper says CAR-T researchers must heed risks highlighted by Juno news
Piper Jaffray analyst Joshua Schimmer said the CAR-T field has "taken another step back" after Juno Therapeutics (JUNO) put a hold on its JCAR015 trial again due to fatal cerebral edema and cautioned companies exploring these therapies to be mindful of "unnecessarily aggressive development and under-appreciation of the potent and possibly highly toxic nature" of the approach. However, Schimmer expressed his confidence that companies he covers in the CAR-T space - namely bluebird bio (BLUE), Cellectis (CLLS), Celgene (CELG), Bellicum Pharmaceuticals (BLCM), Lion Biotechnologies (LBIO) and NantKwest (NK) - will "respect the power of these platforms and remember patients' lives are more important than stock prices."
11/28/16
OPCO
11/28/16
INITIATION
Target $141
OPCO
Outperform
Celgene initiated with an Outperform at Oppenheimer
Oppenheimer analyst Leah Cann initiated Celgene with an Outperform rating and $141 price target, estimating that revenue will grow at a compound annual growth rate of 19% per year for the next five years and that its GAAP EPS can grow by a 31% CAGR over the same span.
12/01/16
WBLR
12/01/16
NO CHANGE
WBLR
Celgene, Zoetis among top healthcare picks at William Blair
William Blair analysts named their top health care picks for 2017, identifying Evolent Health (EVH) as their top HC Services and HC IT pick, Zoetis (ZTS) as their top dental and animal health pick,and Pacific Biosciences (PACB) as their top diagnostic services and life sciences choice, The firm identified ARIAD (ARIA), Celgene (CELG) and SAGE Therapeutics (SAGE) as their top biotech choices. It named Edwards Lifesciences (EW), Nevro (NVRO), and K2M Group (KTWO) as its favorite med tech picks.
CYCC Cyclacel Pharmaceuticals
$4.17

0.23 (5.84%)

08/12/16
HCWC
08/12/16
NO CHANGE
Target $60
HCWC
Buy
Cyclacel risk/reward positive ahead of AML study readout, says H.C. Wainwright
H.C. Wainwright analyst Andrew Fein said he recognizes that the small market cap of Cyclacel Pharmaceuticals keeps the stock from being appetizing to some investors, but he sees an "atypically positive risk/reward" ahead of its pending readout of a study in elderly acute myeloid leukemia patients unfit for induction therapy. An outright survival win in the study "may be a long shot," but the "surprise element" in AML can go both ways, Fein tells investors. Even without AML, Cyclacel is attractive based on its other two clinical programs, said the analyst, who has a $60 price target on the shares and thinks the stock could have a $173 per share full value if there were to be a topline win in AML.
DMPI DelMar Pharmaceuticals
$4.06

0.02 (0.50%)

11/16/16
MAXM
11/16/16
NO CHANGE
Target $11
MAXM
Buy
DelMar Pharmaceuticals price target lowered to $11 from $15 at Maxim
Maxim analyst Jason McCarthy lowered his price target on DelMar Pharmaceuticals to $11 from $15, citing extended timelines for the company's Phase 3 program in patients with progressive glioblastoma multiforme who have failed Avastin therapy, which has been pushed out "a bit into 2017." This pushes out a potential commercial launch to 2021, from 2020, estimates McCarthy, who keeps a Buy rating on DelMar shares.
04/04/16
RODM
04/04/16
INITIATION
Target $3
RODM
Buy
DelMar Pharmaceuticals initiated with a Buy at Rodman & Renshaw
Rodman & Renshaw analyst Raghuram Selvaraju started DelMar Pharmaceuticals with a Buy rating and $3 price target.
DRNA Dicerna
$2.94

-0.04 (-1.34%)

12/22/15
LEER
12/22/15
NO CHANGE
Target $20
LEER
Outperform
Dicerna price target lowered to $20 from $24 at Leerink
Leerink analyst Michael Schmidt lowered his price target for Dicerna to $20 citing slower than expected pipeline progress. The company still has still not reached a maximum tolerated dose in either of two ongoing Phase I dose-escalation trials in "all comers" or hepatocellular carcinoma, Schmidt tells investors in a research note. He believes Dicerna's story is fundamentally intact, but notes both programs are advancing slowly. The analyst keeps an Outperform rating on the name.
04/05/16
CHDN
04/05/16
INITIATION
Target $5
CHDN
Neutral
Dicerna initiated with a Neutral at Chardan
Target $5.
11/08/16
LEER
11/08/16
NO CHANGE
Target $8
LEER
Outperform
Dicerna price target lowered to $8 from $18 at Leerink
Following Q3 results and pipeline updates, Leerink analyst Michael Schmidt lowered his price target for Dicerna to $8 from $18 to reflect discontinuation of the DCR-MYC program and a lower probability-of-success of DCR-PHXC to account for additional clinical development risk on novel RNAi platforms. The analyst reiterates an Outperform rating on the shares.
FPRX Five Prime
$56.89

-0.63 (-1.10%)

10/25/16
SBSH
10/25/16
INITIATION
Target $65
SBSH
Buy
Five Prime initiated with a Buy at Citi
Citi analyst Robyn Karnauskas started Five Prime Therapeutics with a Buy rating and $65 price target. The company has "multiple shots" on goal in various cancers, Karnauskas tells investors in a research note. She believes investors will assign higher value to the Cabiralizumab program once combo data with Opdivo is seen in 2017. The analyst sees fair value for Five Prime shares in the $65-$80 range.
08/09/16
WELS
08/09/16
NO CHANGE
WELS
Five Prime weakness overdone, says Wells Fargo
After a trial of the OPDIVO cancer treatment of Five Prime's (FPRX) partner, Bristol Myers Squibb (BMY), showed disappointing results, Wells Fargo thinks that the nearly 9% decline in Five Prime's stock was overdone. The firm thinks that it's "premature" to determine that Merck's (MRK) Keytruda has overtaken OPDIVO. The firm believes that Five Prime's OPDIVO can redeem itself in upcoming studies, and it thinks that Five Prime's stock can advance if the actor-1 receptor is proven to be a worthwhile target ,whether or not OPDIVO is shown to be effective. The firm keeps an Outperform rating on Five Prime.
05/11/16
05/11/16
NO CHANGE

Leerink major pharma & biotech analyst holds analyst/industry conference call
Biotech Analyst Schmidt and Major Pharmaceuticals Analyst Fernandez, along with University of Chicago Departments of Pathology & Medicine, Professor Dr. Thomas F. Gajewski, discuss the tumor micro-environment on an Analyst/Industry conference call to be held on May 11 at 2 pm.
01/21/16
01/21/16
INITIATION

On The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 3M (MMM) initiated with a Buy at Citi... AMAG Pharmaceuticals (AMAG) initiated with an Equal Weight at Barclays... Acceleron (XLRN) initiated with an Outperform at Credit Suisse... Agios Pharmaceuticals (AGIO) initiated with an Outperform at Credit Suisse... Akebia (AKBA) initiated with a Neutral at Credit Suisse... CIT Group (CIT) initiated with a Hold at Deutsche Bank... Check Point (CHKP) initiated with a Neutral at Cleveland Research... Clovis (CLVS) initiated with an Outperform at Credit Suisse... Colfax (CFX) initiated with a Sell at Citi... Danaher (DHR) initiated with a Neutral at Citi... Dover (DOV) initiated with a Neutral at Citi... Emerson (EMR) initiated with a Sell at Citi... Endo (ENDP) initiated with an Equal Weight at Barclays... Endocyte (ECYT) initiated with an Outperform at Credit Suisse... FibroGen (FGEN) initiated with a Neutral at Credit Suisse... FireEye (FEYE) initiated with an Outperform at Northland... Five Prime (FPRX) initiated with an Outperform at Credit Suisse... Flowserve (FLS) initiated with a Neutral at Citi... General Electric (GE) initiated with a Buy at Citi... Honeywell (HON) initiated with a Buy at Citi... Ignyta (RXDX) initiated with an Outperform at Credit Suisse... Illinois Tool Works (ITW) initiated with a Buy at Citi... Imperva (IMPV) initiated with an Outperform at Northland... Ingersoll-Rand (IR) initiated with a Buy at Citi... Joint Corp. (JYNT) initiated with a Buy at Maxim... M&T Bank (MTB) resumed with a Neutral at JPMorgan... Medivation (MDVN) initiated with an Outperform at Credit Suisse... Newfield Exploration (NFX) initiated with an Outperform at Imperial Capital... OvaScience (OVAS) initiated with an Underperform at Credit Suisse... PFSweb (PFSW) initiated with a Buy at Canaccord... Palo Alto (PANW) initiated with an Outperform at Northland... Perrigo (PRGO) initiated with an Overweight at Barclays... Prothena (PRTA) initiated with an Outperform at Credit Suisse... Puma Biotechnology (PBYI) initiated with an Outperform at Credit Suisse... Rockwell Automation (ROK) initiated with a Neutral at Citi... Seattle Genetics (SGEN) initiated with an Outperform at Credit Suisse... Shopify (SHOP) initiated with an Outperform at Wedbush... Square (SQ) initiated with a Market Perform at William Blair... TESARO (TSRO) initiated with an Outperform at Wedbush... Tyco (TYC) initiated with a Neutral at Citi... Ultragenyx (RARE) initiated with an Outperform at Credit Suisse.
GILD Gilead
$72.84

-0.86 (-1.17%)

11/17/16
LEER
11/17/16
NO CHANGE
Target $89
LEER
Market Perform
Gilead myelofibrosis data miss may open path for M&A, says Leerink
Leerink analyst Geoffrey Porges notes that Gilead (GILD) released disappointing Phase III data for its JAK 1/2 inhibitor momelotinib in myelofibrosis. The company indicated that they plan to discuss these results with regulatory authorities to determine the next steps, but it seems likely that momelotinib will be written off, he adds. However, Porges believes that this disappointment restores Incyte (INCY) to the list of feasible candidates for acquisition by Gilead, since it would no longer face the obligation to divest one of the overlapping JAK programs. He reiterates a Market Perform rating and $89 price target on Gilead's shares.
11/17/16
LEER
11/17/16
NO CHANGE
Target $115
LEER
Outperform
Incyte price target raised to $115 from $101 at Leerink
Leerink analyst Michael Schmidt raised his price target for Incyte (INCY) to $115 from $101 after Gilead (GILD) reported disappointing top-line results from two Phase III studies evaluating momelotinib, its JAK1/2 inhibitor for patients with myelofibrosis. The analyst believes that the removal of this uncertainty on the revenue outlook of Incyte's key commercial product, combined with increasing prospects of a repatriation holiday should make the company more attractive as an acquisition target. He reiterates an Outperform rating on Incyte's shares.
11/17/16
BMOC
11/17/16
NO CHANGE
BMOC
Incyte drug won't have 'meaningful competition,' says BMO Capital
BMO Capital analyst M. Ian Somaiya says that "mixed data" on Gilead's (GILD) momelotinib in myelofibrosis eliminates any "meaningful competition" faced by Incyte's (INCY) Jakafi in the disease. The analyst raised his price target on Incyte to $126 from $121 and keeps an Outperform rating on the shares.
11/18/16
GABE
11/18/16
NO CHANGE
Target $99
GABE
Buy
Incyte, Regeneron among Gilead M&A options after latest setback, says Gabelli
Gabelli analyst Jing He noted Gilead's (GILD) "mixed" results from its Phase III trials evaluating momelotinib, which showed that the drug is not superior to Incyte's (INCY) Jakafi. Commenting on Gilead's potential path after momelotinib's "disappointing" results and several other pipeline setbacks this year, He suggested that Gilead could look to buy Incyte, which looks like "Regeneron lite," or simply buy Regeneron (REGN) itself. The analyst said Gilead could alternately target an orphan drug company such as Alexion (ALXN), Vertex (VRTX) or BioMarin (BMRN). She keeps a Buy rating and $99 per share private market value on Gilead shares, as she expects M&A to be a catalyst for the stock.
IMGN ImmunoGen
$1.77

-0.01 (-0.56%)

05/02/16
05/02/16
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. Seagate (STX) downgraded to Underweight at JPMorgan by analyst Rod Hall, who said the company's fundamentals continue to deteriorate following its "weak" Q3 results. The analyst believes the current dividend is unsustainable. Hall sees structural weakness in end-market demand amid weak PC sales. The company was also downgraded to Sector Perform at RBC Capital after the firm called the company's results and guidance disappointing, and says that its 2017 EPS guidance is aggressive. 2. Arrow Electronics (ARW), Avnet (AVT) and Tech Data (TECD) were double downgraded to Sell while SYNNEX (SNX) was double downgraded to Neutral at Citi with analyst Jim Suva citing early evidence that the cloud is increasingly starting to disrupt traditional IT distributors. The analyst adds that Information Technology spending has increasingly shifted to the cloud, which makes consensus estimates for IT distributors too high. 3. Groupon (GRPN) downgraded to Underperform at RBC Capital by analyst Mark Mahaney, who said the company's Q1 results highlighted "deteriorating fundamentals" and "substantial challenges" going forward. Mahaney said growth in North America revenue, gross profit, local billings and units all decelerated in Q1. 4. ImmunoGen (IMGN) downgraded to Sector Perform at RBC Capital because the firm notes that the company's "lead asset mirvetuximab soravtansine produced lower than previously reported response rates in ovarian cancer." RBC adds that the company, without consulting with the FDA, decided not to seek accelerated approval for the drug. 5. Eastman Chemical (EMN) downgraded to Underperform from Buy at CLSA by analyst Nils-Bertil Wallin recommending taking profits in shares given weaker guidance, an anemic global economy, potential ethylene oversupply, and difficult market to sell ethylene assets. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/02/16
RBCM
05/02/16
DOWNGRADE
RBCM
Sector Perform
ImmunoGen downgraded on data shortfall at RBC Capital
As noted earlier, RBC Capital downgraded ImmunoGen to Sector Perform from Outperform. The firm notes that the company's "lead asset mirvetuximab soravtansine produced lower than previously reported response rates in ovarian cancer." RBC adds that the company, without consulting with the FDA, decided not to seek accelerated approval for the drug. The firm thinks that the risk facing the drug has increased significantly. Target to $7 from $18.
04/29/16
RBCM
04/29/16
DOWNGRADE
RBCM
Sector Perform
ImmunoGen downgraded to Sector Perform from Outperform at RBC Capital
JNJ Johnson & Johnson
$111.38

0.08 (0.07%)

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.
11/28/16
WELS
11/28/16
NO CHANGE
WELS
Actelion could be acquired for $215 per share, says Wells Fargo
After Johnson & Johnson (JNJ) said that it's in preliminary talks about a deal with Actelion (ALIOF), Wells Fargo estimates that J&J could buy Actelion for $215 per share. The firm thinks that other bidders could emerge for Actelion. It estimates that the deal could be accretive to J&J's EPS by about 5%. Wells keeps an Outperform rating on J&J.
11/29/16
LEHM
11/29/16
DOWNGRADE
Target $125
LEHM
Equal Weight
Johnson & Johnson downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Geoff Meacham downgraded Johnson & Johnson to Equal Weight and lowered its price target to $125 from $130. The analyst said risk/reward is less compelling and said shares could become a source of funds due to Remicade biosimilar risk, slowing med tech utilization, reduced pipeline impact, and a move away from defensive names.
11/29/16
11/29/16
DOWNGRADE

On The Fly: Top five analyst downgrades
On The Fly: Top five analyst downgrades: 1. Wendy's (WEN) downgraded to Neutral from Buy at Goldman with analyst Karen Holthouse citing valuation with the stock up 23% over the past month. 2. SAIC (SAIC) downgraded to Neutral from Buy at Citi with analyst Jonathan Raviv citing the recent rally in the shares and some overhang from the pending contract transition. 3. BioMarin (BMRN), Johnson & Johnson (JNJ), and Vertex (VRTX) were downgraded to Equal Weight from Overweight at Barclays. 4. Nivalis Therapeutics (NVLS) downgraded to Market Perform Raymond James, to Hold from Buy at Stifel, to Market Perform from Outperform at Cowen, and to Neutral from Outperform at Baird. 5. U.S. Steel (X) downgraded to Hold from Buy 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.
KPTI Karyopharm
$9.03

-0.2 (-2.17%)

05/27/16
RAJA
05/27/16
INITIATION
Target $13
RAJA
Outperform
Karyopharm initiated with an Outperform at Raymond James
Raymond James analyst Christopher Raymond initiated Karyopharm with an Outperform and $13 price target. Raymond said Karyopharm is close to a value creation period with key trial read outs that can help advance lead compound selinexor and transition Karyopharm to a commercial entity. Further, its wholly-owned, novel technology platform with an experienced management team and an attractive valuation make shares a compelling investment, the analyst added.
06/27/16
BARD
06/27/16
INITIATION
Target $16
BARD
Outperform
Karyopharm initiated with an Outperform at Baird
Target $16.
08/18/16
HCWC
08/18/16
INITIATION
Target $15
HCWC
Buy
Karyopharm initiated with a Buy at H.C. Wainwright
H.C. Wainwright analyst Shaunak Deepak started Karyopharm Therapeutics with a Buy rating and $15 price target.
08/30/16
JEFF
08/30/16
UPGRADE
Target $12
JEFF
Buy
Karyopharm upgraded to Buy from Hold at Jefferies
Jefferies analyst Brian Abrahams upgraded Karyopharm Therapeutics to Buy citing increasing confidence that near-term data will support a path forward and potential role for selinexor in the future multiple myeloma landscape. The analyst believes selinexor presents a significant revenue opportunity and he upped his price target for the shares to $12 from $9.
KURA Kura Oncology
$5.55

0.7 (14.43%)

12/30/15
12/30/15
INITIATION

On the Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AVANGRID (AGR) initiated with an Outperform at Wells Fargo...Agile Therapeutics (AGRX) initiated with a Buy at Noble Financial...Energen (EGN) initiated with an Equal Weight at Stephens Generac (GNRC) initiated with a Neutral at Northcoast...Healthstream (HSTM) initiated with a Neutral at Sidoti...Kura Oncology (KURA) initiated with an Outperform at Oppenheimer...Performance Sports Group (PSG) initiated with an Outperform at Oppenheimer...Skullcandy (SKUL) initiated with an Outperform at Oppenheimer.
01/22/16
JMPS
01/22/16
INITIATION
Target $24
JMPS
Outperform
Kura Oncology initiated with an Outperform at JMP Securities
JMP Securities analyst Michael King started Kura Oncology with an Outperform rating and $24 price target.
01/22/16
01/22/16
INITIATION

On The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: CVS Health (CVS) initiated with an Outperform at Baird... Cognex (CGNX) initiated with an Outperform at Raymond James... Ctrip.com (CTRP) initiated with a Buy at Nomura... First Industrial Realty (FR) initiated with a Buy at Jefferies... Kura Oncology (KURA) initiated with an Outperform at JMP Securities... Matador (MTDR) initiated with an Outperform at Iberia... NetEase (NTES) initiated with a Neutral at Nomura... Praxair (PX) reinstated with an Underperform at BofA/Merrill... Primerica (PRI) initiated with an Outperform at William Blair... Prologis (PLD) initiated with a Hold at Jefferies... RAIT Financial (RAS) initiated with an Outperform at FBR Capital... STAG Industrial (STAG) initiated with a Hold at Jefferies... SolarCity (SCTY) initiated with an Overweight at Barclays... Sprouts Farmers Markets (SFM) initiated with an Outperform at Wells Fargo... Sunrun (RUN) initiated with an Overweight at Barclays... Terreno Realty (TRNO) initiated with a Hold at Jefferies... Tower Semiconductor (TSEM) initiated with a Strong Buy at Needham... Unique Fabricating (UFAB) initiated with a Buy at B. Riley... Walgreens Boots Alliance (WBA) initiated with an Outperform at Baird.
10/13/16
LEER
10/13/16
INITIATION
Target $15
LEER
Outperform
Kura Oncology reinstated with an Outperform at Leerink
Leerink analyst Jonathan Chang resumed coverage of Kura Oncology with an Outperform rating and $15 price target, saying he views it as "attractively valued" heading into data rich 2017.
LLY Eli Lilly
$65.97

-1.15 (-1.71%)

11/28/16
MAXM
11/28/16
NO CHANGE
Target $15
MAXM
Buy
Anavex may be targeting 'ideal approach' to Alzheimer's disease, says Maxim
After Eli Lilly's (LLY) solanezumab failed its third Phase 3 study in early-stage Alzheimer's disease, Maxim analyst Jason McCarthy noted that Anavex's (AVXL) 2-73 targets the disease "more broadly upstream" to restore proper CNS cell function and has shown "promising early data." While too soon to draw any firm conclusions, given the lessons learned from failures in pursuit of other avenues, Anavex "may be on the right track" by looking upstream, said McCarthy, who keeps a Buy rating and $15 price target on the stock.
11/28/16
BOFA
11/28/16
NO CHANGE
BOFA
Buy
Eli Lilly removed from US 1 List at BofA/Merrill
11/25/16
ATLE
11/25/16
DOWNGRADE
ATLE
Neutral
Eli Lilly downgraded to Neutral from Overweight at Atlantic Equities
MACK Merrimack
$5.10

-0.41 (-7.44%)

08/05/16
COWN
08/05/16
DOWNGRADE
COWN
Market Perform
Merrimack downgraded to Market Perform from Outperform at Cowen
08/19/16
BTIG
08/19/16
INITIATION
BTIG
Neutral
Merrimack initiated with a Neutral at BTIG
BTIG analyst Ling Wang initiated Merrimack with a Neutral as he expects shares to be range-bound given the likely slow ramp-up of ONIVYDE and data from MM-302 and MM-121 won't be available until 2017 or beyond;
10/07/16
JPMS
10/07/16
DOWNGRADE
Target $7
JPMS
Neutral
Merrimack downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Anupam Rama downgraded Merrimack Pharmaceuticals to Neutral saying the shares are likely to be range-bound after rallying 36% from the 52-week low on September 20. Key pipeline catalysts aren't likely until Q2 of 2017 and beyond while 2016 estimates are not "meaningfully beatable," Rama tells investors in a research note. He lowered his price target for the shares to $7 from $8.
11/14/16
JPMS
11/14/16
NO CHANGE
JPMS
JPMorgan says Merrimack could fit as target for Shire
JPMorgan analyst Anupam Rama believes Merrimack Pharmaceuticals (MACK) could fit as a potential target for Shire (SHPG). The $1B deal size would be manageable, Rama tells investors in a research note after Ben Harrington's Betaville blog, citing sources, reported Friday that Shire is among the companies participating in Merrimack's strategic review process. Assuming a 40% premium to the intraday Merrimack share price, the deal would be 1% accretive in 2019 and 2% accretive in 2020, Rama estimates.
MRK Merck
$60.76

-0.43 (-0.70%)

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.
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.
10/19/16
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.
10/13/16
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.
NVS Novartis
$67.75

-1.01 (-1.47%)

11/10/16
ARGS
11/10/16
UPGRADE
ARGS
Buy
Novartis upgraded to Buy from Hold at Argus
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.
11/30/16
RHCO
11/30/16
NO CHANGE
RHCO
GlycoMimetics has positive read through from deal, says SunTrust
SunTrust analyst Yatin Suneja says that Novartis' (NVS) recent acquisition of Selexys Pharmaceuticals "provides further clinical and commercial validation for the selectin class of adhesion molecules as meaningful therapeutic targets." The analyst notes that the acquisition came after Selexys' SelG1, which utilizes a P-selectin antibody, showed positive Phase II data in sickle cell disease. GlycoMimetics (GLYC) develops selectin antagonists. The analyst expects interest in the name to accelerate as more data is announced. Suneja keeps a Buy rating on the shares.
12/01/16
LEER
12/01/16
NO CHANGE
LEER
Outperform
bluebird bio data looks 'impressive,' says Leerink
Leerink analyst Michael Schmidt notes that bluebird bio (BLUE) announced first clinical data from its ongoing Phase I study of anti-BCMA CAR-T product candidate "bb2121" in relapsed/refractory multiple myeloma, and says it looks 'impressive." While he cautions that the data is still "somewhat immature," the early results justify the high level of excitement around the potential of anti-BCMA CAR-T therapy in relapsed/ refractory myeloma, as several other companies including Juno Therapeutics (JUNO), Kite Pharma (KITE) and Novartis (NVS) have stated plans to also develop anti-BCMA-CART product candidates. Schmidt reiterates an Outperform rating on bluebird bio's shares.
OMED OncoMed
$8.22

-0.27 (-3.18%)

11/14/16
PIPR
11/14/16
NO CHANGE
PIPR
Piper sees Biotech rally continuing into 2017, lays out five to own
Piper Jaffray analyst Edward Tenthoff expects the rally in Biotechs, following "the trifecta" of a Trump Presidential election, Republican Congress sweep and defeat of Prop 61 in California, to continue into 2017. He recommends focusing on shares of Vertex (VRTX), Regeneron (REGN), Alnylam (ALNY), Exelixis (EXEL) and OncoMed (OMED). Tenthoff has a Neutral rating on Regeneron and Overweight ratings on the other four names.
09/22/16
HCWC
09/22/16
INITIATION
Target $20
HCWC
Buy
OncoMed initiated with a Buy at H.C. Wainwright
H.C. Wainwright analyst Shaunak Deepak started OncoMed Pharmaceuticals (OMED) with a Buy rating and $20 price target. The company is entering a "year of dramatic changes" with upcoming opt-in decisions for its lead drug candidates expected from partners Celgene (CELG), Bayer (BAYRY) and GlaxoSmithKline (GSK), Deepak tells investors in a research note. The analyst believes the partnerships could payoff with long-term benefits.
06/06/16
PIPR
06/06/16
NO CHANGE
Target $29
PIPR
Overweight
Piper says confidence in OncoMed increased by ASCO updates
Piper Jaffray analyst Edward Tenthoff noted that OncoMed presented new Phase Ib data from vantictumab and ipafricept at the ASCO meeting, adding that he was "particularly impressed" by early ipafricept signal in ovarian cancer. The analyst, who contends that OncoMed has a "rich pipeline" of seven cancer biotherapeutics in the clinic, keeps an Overweight rating and $29 price target on the stock.
06/06/16
BMOC
06/06/16
NO CHANGE
BMOC
OncoMed data positive, says BMO Capital
BMO Capital believes that data on three of OncoMed's drugs remove the risk of their development. The firm thinks that the data could cause the company's partners, Bayer and GlaxoSmithKline, to exercise options, yielding $1034M in non-dilutive financing for OncoMed.
PFE Pfizer
$31.46

-0.68 (-2.12%)

11/02/16
ARGS
11/02/16
DOWNGRADE
ARGS
Hold
Pfizer downgradedon weaker outlook at Argus
As noted earlier, Argus downgraded Pfizer to Hold from Buy. Analyst Jacob Kilstein cited "recent pipeline setbacks, prospects for increased competition, and management's decision to shelve its business separation plan" as reasons for the downgrade.
11/29/16
11/29/16
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. Pfizer (PFE) upgraded to Overweight from Equal Weight at Barclays with analyst Geoff Meacham saying he sees a greater likelihood that Pfizer will be able to access its cash overseas under the new administration, which could be used to acquire growth assets and return capital to shareholders. 2. Comerica (CMA) upgraded to Outperform from Market Perform at Keefe Bruyette. 3. Tractor Supply (TSCO) upgraded to Buy from Neutral at Northcoast with analyst Chuck Cerankosky saying he expects the company to benefit from colder weather and the improving US economy and said product assortments and promotions have also been adjusted to the new economics of the energy patch and its impact on this company's customers. 4. Del Frisco's (DFRG) upgraded to Outperform from Neutral at Credit Suisse with analyst Jason West saying it is a key beneficiary of improved high-end consumer and corporate spending. 5. Veracyte upgraded to Buy from Neutral at Janney Capital with analyst Paul Knight saying the company's "disciplined test development, commercialization, and reimbursement processes" insulate it from a number of problems plaguing the pharma sector. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/29/16
LEHM
11/29/16
UPGRADE
Target $38
LEHM
Overweight
Pfizer upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Geoff Meacham upgraded Pfizer to Overweight and raised its price target to $38 from $37. Meacham sees a greater likelihood that Pfizer will be able to access its cash overseas under the new administration, which could be used to acquire growth assets and return capital to shareholders.
11/02/16
11/02/16
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. Pfizer (PFE) downgraded to Hold from Buy at Argus and to Market Perform from Outperform at BMO Capital. 2. BP (BP) downgraded to Hold from Buy at Societe Generale. 3. Corning (GLW) downgraded to Buy from Conviction Buy at Goldman with analyst Doug Clark saying the restocking phase of glass/TV cyclical recovery is now "well understood and largely behind us." 4. Adeptus Health (ADPT) downgraded to Underperform from Buy at BofA/Merrill, to Hold from Buy at Jefferies, and to Equal Weight from Overweight at Stephens. 5. Brookdale Senior Living (BKD) downgraded to Underperform from Neutral at BofA/Merrill, to Market Perform from Outperform at Wells Fargo, and to Outperform from Top Pick at RBC Capital. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
PBYI Puma Biotechnology
$39.50

-3.55 (-8.25%)

11/14/16
STFL
11/14/16
NO CHANGE
Target $88
STFL
Buy
Stifel calls Puma selloff overdone, but concerned by management comments
Stifel analyst Thomas Shrader views the intraday selloff in Puma Biotechnology shares as an overreaction, but he calls management's comments last week "an issue." At a conference last week, management said, "In December, we showed the interim results of this and as you can see the grade 3 diarrhea ranged from 13% to 18%. And also, all of the things that would be involved in tolerability, like stopping the drug, reducing the drug, or discontinuing were all brought down as well. Here, you can see the diarrhea over time in the control study." Shrader believes today's abstract was likely embargoed, but he still finds last week's comments "strange." Nonetheless, the analyst feels neratinib's Grade 3 diarrhea rate is manageable and he notes that Grade 4 diarrhea events were zero in all arms of the trial. Shrader has a Buy rating on Puma with an $88 price target.
11/14/16
JPMS
11/14/16
NO CHANGE
JPMS
Puma Biotechnology selloff today an overreaction, says JPMorgan
JPMorgan analyst Cory Kasimov views the selloff today in shares of Puma Biotechnology as an overreaction. The diarrhea rates included in abstract posted today are worse than the last update, but the rates are equivalent to a median number of around 1 episode per patient in the first cycle of treatment, Kasimov tells investors in an intraday research note. He continues to consider neratinib an approvable drug based on currently available data.
11/14/16
FBCO
11/14/16
NO CHANGE
FBCO
Outperform
Puma Biotechnology pullback overdone, says Credit Suisse
11/14/16
RBCM
11/14/16
NO CHANGE
Target $57
RBCM
Sector Perform
Puma neratinib severe diarrhea issues a significant negative, says RBC Capital
RBC Capital analyst Simo Simeonidis said today's release of worsening diarrhea in trial patients on Puma Biotechnology's neratinib, compared to last year's data, helps explain the need for a change in the trial design. While the 12.5% rate of G3 diarrhea is potentially promising, the small sample size and fact that these data are still early, and the fact that loperamide alone no longer appears sufficient to prophylaxe against severe diarrhea, are significant negatives, said Simeonidis, who has a Sector Perform rating on Puma shares.
QGEN QIAGEN
$26.89

-0.43 (-1.57%)

11/03/16
BOFA
11/03/16
UPGRADE
Target $26
BOFA
Neutral
QIAGEN upgraded to Neutral from Underperform at BofA/Merrill
BofA/Merrill analyst Derik de Bruin upgraded QIAGEN to Neutral and raised its price target to $26 from $25 following the Q3 report and solid FY17 guidance. The company sees accelerating FY17 growth and the first double-digit increase since 2012 and said its Unperform thesis is played out.
08/01/16
HSBC
08/01/16
UPGRADE
HSBC
Buy
QIAGEN upgraded to Buy from Hold at HSBC
HSBC analyst Keppeler upgraded QIAGEN to Buy and increased its price target to $27 from $20. The analyst is more constructive on improving trends in Academia/Pharma and expects topline growth to accelerate to 7% in 2017 from 1-4% in 2012-2015 from strong growth drivers that include QiaSymphony instrument and the NGS franchise.
05/25/16
PIPR
05/25/16
NO CHANGE
PIPR
Neutral
Piper says QIAGEN may need to change or pull GeneReader if Illumina wins suit
Piper Jaffray analyst William Quirk said patent infringement outcomes are hard to predict, but added that Illumina's (ILMN) win at the Patent Trial and Appeal Board increase its chances to prevail in its recently filed infringement lawsuit against Qiagen (QGEN) related to the GeneReader DNA sequencer. If Illumina does win, Qiagen will need to "drastically" alter the product and/or remove it from the market, said Quirk, who keeps a Neutral rating on Qiagen shares.
RHHBY Roche
$27.30

-0.46 (-1.66%)

09/12/16
JEFF
09/12/16
NO CHANGE
Target $57
JEFF
Hold
Jefferies cuts Bristol-Myers price target, upgrades AstraZeneca
Jefferies analyst Jeffrey Holford lowered his price target for Bristol-Myers Squibb (BMY) to $57 from $69 saying the stock is positioned for a "rough mid term ride." The analyst sees a "difficult catalyst" set for Bristol shares with "numerous" upcoming competitor read-outs in non-small cell lung cancer. The market could see worse than expected data from Bristol's CM-026 and CM-568 studies as well as better than expected data from AstraZeneca's (AZN) MYSTIC study and Roche's (RHHBY) Chemo-IO studies in the first half of 2017, Holford tells investors in a research note. He keeps a Hold rating on Bristol and upgraded this morning AstraZeneca to Buy from Hold. Holford prefers Astra for its immunology exposure.
09/27/16
PIPR
09/27/16
NO CHANGE
Target $62
PIPR
Neutral
Bristol-Myers price target lowered to $62 from $65 at Piper Jaffray
Piper Jaffray analyst Richard Purkiss lowered his price target for Bristol-Myers Squibb (BMY) to $62 saying he sees the company ceding Opdivo's early-mover advantage in lung cancer to competitors. The analyst expects to see details from Roche's (RHHBY) positive OAK trial of Tecentriq vs. docetaxel in non-small cell lung cancer at the upcoming ESMO meeting. Purkiss also expects to see details from Merck's (MRK) positive KEYNOTE-024 trial of Keytruda. The analyst lowered his post-2016 Opdivo forecasts and reiterates a Neutral rating on Bristol shares.
SNY Sanofi
$39.72

-0.48 (-1.19%)

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.
11/29/16
MSCO
11/29/16
UPGRADE
MSCO
Overweight
Sanofi upgraded to Overweight from Equal Weight at Morgan Stanley
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
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.
TSRO TESARO
$130.76

-4.93 (-3.63%)

11/04/16
SBSH
11/04/16
NO CHANGE
Target $151
SBSH
Buy
Citi boosts TESARO target to $151 on niraparib upside opportunities
Citi analyst Robyn Karnauskas raised her price target for TESARO to $151 from $125 following the drugmaker's Q3 results. The stock closed yesterday down $3.07 to $120.28. The niraparib filing is on track while the Varubi launch is better than expectations, Karnauskas tells investors in a research note. She believes TESARO's immuno-oncology franchise is not getting credit and sees longer-term upside opportunities for niraparib. Karnauskas keeps a Buy rating on the shares.
11/04/16
11/04/16
DOWNGRADE

Market Perform
TESARO downgraded to Market Perform on valuation at Raymond James
As previously reported, Raymond James downgraded TESARO to Market Perform from Outperform. Analyst Christopher Raymond said his thesis is largely play out and shares have hit his previously price target of $120.
11/07/16
RBCM
11/07/16
NO CHANGE
RBCM
Several biotech names de-risked, should be bought, says RBC Capital
RBC Capital analyst Adnan Butt names Aerie Pharmaceuticals (AERI), The Medicines Co. (MDCO), Seattle Genetics (SGEN), and TESARO (TSRO) as biotech companies that face little risk and whose stock should be bought at current levels.The Phase 3 data on Aerie's Rhopressa indicates that the drug should be approved for glaucoma, while The Medicines Co's "Carbavance for gram negative infections looks good and PCSK9si for LDL-C lowering is differentiated," the analyst thinks. The commercial opportunity of Seattle Genetics' Adcetris could increase, while the company has multiple anti-cancer drugs beginning Phase 3 trials, and TESARO's Niraparib appears likely to be approved, and its label could be expanded, Butt believes.
11/09/16
COWN
11/09/16
NO CHANGE
Target $40
COWN
Outperform
Heron Therapeutics price target lowered to $40 from $47 at Cowen
Cowen analyst Boris Peaker lowered his price target on Heron Therapeutics (HRTX) to $40 from $47 following the company's Q3 results. The analyst expects a slow sales ramp for Sustol due to competition, reimbursement dynamics, and Tesaro's (TSRO) early experience with its launch of Varubi. Peaker maintained his Outperform rating on Heron Therapeutics shares.

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03/08/13
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03/06/13
Citigroup
03/06/13
Barclays

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HBAN

Huntington Bancshares

$13.03

0.09 (0.70%)

09:06
12/06/16
12/06
09:06
12/06/16
09:06
Initiation
Huntington Bancshares initiated  »

Huntington Bancshares…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 06

    Dec

BDC

Belden

$74.99

0.9 (1.21%)

, DGII

Digi International

$13.65

0.1 (0.74%)

09:06
12/06/16
12/06
09:06
12/06/16
09:06
Hot Stocks
Breaking Hot Stocks news story on Belden, Digi International »

Belden: Offer for Digi…

BDC

Belden

$74.99

0.9 (1.21%)

DGII

Digi International

$13.65

0.1 (0.74%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
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03/06/13
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BDC

Belden

$74.99

0.9 (1.21%)

, DGII

Digi International

$13.65

0.1 (0.74%)

09:05
12/06/16
12/06
09:05
12/06/16
09:05
Hot Stocks
Belden: Digi management, board 'unwilling' to engage in discussions with Belden »

Notes…

BDC

Belden

$74.99

0.9 (1.21%)

DGII

Digi International

$13.65

0.1 (0.74%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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FCE.A

Forest City

$18.75

0.45 (2.46%)

, FCE.B

Forest City

$19.25

0.56 (3.00%)

09:05
12/06/16
12/06
09:05
12/06/16
09:05
Hot Stocks
Forest City recommends shareholders to eliminate dual-class share structure »

Forest City Realty Trust…

FCE.A

Forest City

$18.75

0.45 (2.46%)

FCE.B

Forest City

$19.25

0.56 (3.00%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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BDC

Belden

$74.99

0.9 (1.21%)

, DGII

Digi International

$13.65

0.1 (0.74%)

09:05
12/06/16
12/06
09:05
12/06/16
09:05
Hot Stocks
Belden reiterates $13.82 per share offer to Digi International board »

Belden (BDC) announced…

BDC

Belden

$74.99

0.9 (1.21%)

DGII

Digi International

$13.65

0.1 (0.74%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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BW

Babcock & Wilcox

$15.99

0.46 (2.96%)

09:04
12/06/16
12/06
09:04
12/06/16
09:04
Hot Stocks
B&W names D. Paul Scavuzzo Chief Commercial Officer »

Babcock & Wilcox…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 06

    Dec

XPLR

Xplore Technologies

$2.31

-0.0124 (-0.53%)

09:04
12/06/16
12/06
09:04
12/06/16
09:04
Hot Stocks
Xplore Technologies receives second rugged tablet follow-on order »

Xplore Technologies…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 06

    Dec

BA

Boeing

$152.16

-0.09 (-0.06%)

09:03
12/06/16
12/06
09:03
12/06/16
09:03
Periodicals
Trump wants to cancel Boeing Air Force One order »

President-elect Donald…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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RLJ

RLJ Lodging Trust

$23.38

0.86 (3.82%)

09:03
12/06/16
12/06
09:03
12/06/16
09:03
Hot Stocks
RLJ Lodging Trust announces sale of two hotels in NYC for $286M »

RLJ Lodging Trust…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
Barclays

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SEIC

SEI Investments

$48.16

1.2 (2.56%)

09:03
12/06/16
12/06
09:03
12/06/16
09:03
Hot Stocks
SEI Investments signs three-year contract extension with Veritas Investment »

SEI UK Private Banking…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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NUE

Nucor

$65.10

2.07 (3.28%)

09:02
12/06/16
12/06
09:02
12/06/16
09:02
Hot Stocks
Nucor to acquire Southland Tube for $130M »

Nucor announced that it…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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MSTX

Mast Therapeutics

$0.08

0.0009 (1.08%)

09:01
12/06/16
12/06
09:01
12/06/16
09:01
Hot Stocks
Mast Therapeutics enrolls first patient in Phase 2 study of AIR001 »

Mast Therapeutics…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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CNSL

Consolidated Communications

$27.21

-1.17 (-4.12%)

09:01
12/06/16
12/06
09:01
12/06/16
09:01
Upgrade
Consolidated Communications rating change  »

Consolidated…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 06

    Dec

NLSN

Nielsen

$42.41

0.34 (0.81%)

09:01
12/06/16
12/06
09:01
12/06/16
09:01
Conference/Events
Nielsen to host 2016 analyst day »

2016 Analyst Day to be…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 08

    Dec

  • 08

    Dec

CMG

Chipotle

$396.27

-3.76 (-0.94%)

09:00
12/06/16
12/06
09:00
12/06/16
09:00
Hot Stocks
Chipotle says sales haven't recovered as much as previously expected »

Says "took eye off…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 09

    Jan

RGSE

Real Goods Solar

$0.51

0.0596 (13.23%)

09:00
12/06/16
12/06
09:00
12/06/16
09:00
Syndicate
Breaking Syndicate news story on Real Goods Solar »

Real Goods Solar files to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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09:00
12/06/16
12/06
09:00
12/06/16
09:00
General news
U.S. trade deficit widened 17.8% to -$42.6 B in October »

U.S. trade deficit…

REI

Ring Energy

$12.15

-0.81 (-6.25%)

08:59
12/06/16
12/06
08:59
12/06/16
08:59
Syndicate
Ring Energy 6.5M share Spot Secondary priced at $11.50 »

SunTrust and Seaport…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 06

    Dec

NSTG

NanoString

$21.99

-0.15 (-0.68%)

08:59
12/06/16
12/06
08:59
12/06/16
08:59
Recommendations
NanoString analyst commentary  »

NanoString a top growth…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 06

    Dec

T

AT&T

$38.63

0.02 (0.05%)

, TWX

Time Warner

$93.34

-0.46 (-0.49%)

08:57
12/06/16
12/06
08:57
12/06/16
08:57
Hot Stocks
AT&T CEO says Time Warner review should be 'straightforward' »

Says Time Warner (TWX)…

T

AT&T

$38.63

0.02 (0.05%)

TWX

Time Warner

$93.34

-0.46 (-0.49%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 06

    Dec

  • 07

    Dec

  • 07

    Dec

08:56
12/06/16
12/06
08:56
12/06/16
08:56
General news
Redbook Store Sales data reported »

Week of 12/3 Redbook…

TDOC

Teladoc

$18.45

0.5 (2.79%)

08:55
12/06/16
12/06
08:55
12/06/16
08:55
Hot Stocks
Teladoc says reached 100,000 telehealth visits during November »

Teladoc announced that a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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BAC

Bank of America

$21.84

0.61 (2.87%)

, AAPL

Apple

$109.11

-0.79 (-0.72%)

08:55
12/06/16
12/06
08:55
12/06/16
08:55
Options
Notable open interest changes for December 6th »

Monday's total…

BAC

Bank of America

$21.84

0.61 (2.87%)

AAPL

Apple

$109.11

-0.79 (-0.72%)

RAD

Rite Aid

$8.06

0.05 (0.62%)

F

Ford

$12.44

0.2 (1.63%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 06

    Dec

  • 05

    Jan

  • 10

    Jan

  • 13

    Jan

  • 13

    Mar

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