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ARIA

ARIAD

$13.74

0.34 (2.54%)

, TKPYY

Takeda Pharmaceutical Co. Ltd.

$21.39

0.13 (0.61%)

12:30
01/09/17
01/09
12:30
01/09/17
12:30

On The Fly: Top stock stories at midday

Stocks began the day mixed as Dow components Procter & Gamble (PG) and Coca-Cola (KO) were hit with downgrades to Sell, which put pressure on the blue chip index from the outset. The Nasdaq has been the strongest average since the open and has managed to hit a new all-time high. Meanwhile, oil prices are suffering today and are down more than 3%. ECONOMIC NEWS: There were no major economic releases in the U.S. this morning. In Europe, unemployment across the 19-country Eurozone held steady in November at 9.8%, falling only modestly to a total of 15.9M. COMPANY NEWS: Shares of the leukemia drug maker ARIAD Pharmaceuticals (ARIA) have jumped almost 73% near noon after the company agreed to be acquired by Takeda (TKPYY). Under the terms of the agreement, the former's stockholders will receive $24.00 in cash per share. In other M&A news, shares of VCA Inc. (WOOF) gained 28% after the company and Mars Incorporated announced that they have entered an agreement under which the latter will acquire all of the outstanding shares of the animal hospital owner for $93 per share, or a total value of approximately $9.1B including $1.4B in outstanding debt. Additionally, Optum, part of UnitedHealth Group (UNH), announced the acquisition of Surgical Care Affiliates (SCAI) for $57 per share. Following the news, shares of Surgical Care Affiliates advanced about 16%, while UnitedHealth's stock dropped 0.5%... Meanwhile, McDonald's (MCD) agreed to sell the bulk of the company's China and Hong Kong business to CITIC and Carlyle Group (CG) for up to $2.1B... Goldman Sachs analyst Judy Hong said the recently-weak staples sector is probably set to drop further, listing higher interest rates, foreign exchange pressures, and comparably little benefit from U.S. corporate tax cuts among the headwinds faced by the sector's "mega" multinationals. In that context, Hong downgraded Coca-Cola to Sell form Hold and also cut Procter and Gamble to Sell from Neutral. Following the downgrades, Coke and P&G shares each slid about 1%. MAJOR MOVERS: Among the notable gainers was Global Payments (GPN), which advanced 7% following better than expected second quarter results. Also higher was EXACT Sciences (EXAS), which gained about 20% after reporting preliminary fourth quarter revenue that was above consensus estimates. Among the noteworthy losers was AMAG Pharmaceuticals (AMAG), which slid over 30% after the company said that it has entered into an agreement with Palatin Technologies (PTN) for exclusive North American rights to develop and commercialize Rekynda for the treatment of hypoactive sexual desire disorder in pre-menopausal women, and announced fourth quarter and 2017 guidance. This morning, the stock was also downgraded to Underperform at Raymond James. Also lower was Acuity Brands (AYI), which slipped about 15% after the company reported worse than expected first quarter earnings. Additionally, Five Below (FIVE) dropped 2% after reporting holiday same-store sales results and lowering guidance. INDEXES: Near midday, the Dow was down 53.06, or 0.27%, to 19,910.74, the Nasdaq was up 16.44, or 0.3%, to 5,537.49, and the S&P 500 was down 4.06, or 0.18%, to 2,272.92.

ARIA

ARIAD

$13.74

0.34 (2.54%)

TKPYY

Takeda Pharmaceutical Co. Ltd.

$21.39

0.13 (0.61%)

WOOF

VCA Inc.

$70.77

0.01 (0.01%)

UNH

UnitedHealth

$161.69

-0.72 (-0.44%)

SCAI

Surgical Care Affiliates

$48.75

1.7 (3.61%)

MCD

McDonald's

$120.71

-0.05 (-0.04%)

CG

Carlyle Group

$16.65

0.35 (2.15%)

GPN

Global Payments

$79.53

5.08 (6.82%)

EXAS

Exact Sciences

$15.10

-0.08 (-0.53%)

AMAG

AMAG Pharmaceuticals

$35.70

-0.15 (-0.42%)

PTN

Palatin

$0.53

-0.0192 (-3.49%)

AYI

Acuity Brands

$203.14

-34.22 (-14.42%)

FIVE

Five Below

$39.72

-1.23 (-3.00%)

PG

Procter & Gamble

$84.10

-0.935 (-1.10%)

KO

Coca-Cola

$41.37

-0.37 (-0.89%)

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ARIA ARIAD
$13.74

0.34 (2.54%)

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.
10/26/16
JEFF
10/26/16
NO CHANGE
Target $11
JEFF
Buy
ARIAD price target lowered to $11 from $13 at Jefferies
Jefferies analyst Eun Yang lowered her price target for ARIAD Pharmaceuticals to $11 following the recent scrutiny on Iclusig pricing. Iclusig's pricing scheme "has been overly aggressive," but there is a "clear therapeutic value" to the drug, Yang tells investors in a research note. She believes the company will likely need to modify its pricing strategy. Yang lowered her sales estimates by 23% in 2017 and beyond but keeps a Buy rating on ARIAD. William Blair this morning raised its price target for the shares to $15 from $12.
11/03/16
DBAB
11/03/16
INITIATION
Target $9.5
DBAB
Hold
ARIAD initiated with a Hold at Deutsche Bank
Deutsche Bank analyst Andrew Peters started ARIAD Pharmaceuticals with a Hold rating and $9.50 price target. Headline risk from pricing could overshadow any positive pipeline news flow until the issue is resolved, Peters tells investors in a research note. He expects the stock to be range-bound in the near-term.
11/03/16
11/03/16
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. BioMarin (BMRN) initiated with a Buy at Deutsche Bank. 2. Ambev (ABEV) reinstated with an Equal Weight at Barclays. 3. ARIAD (ARIA) initiated with a Hold at Deutsche Bank. 4. Thomson Reuters (TRI) reinstated with a Neutral at JPMorgan. 5. Exelixis (EXEL) initiated with a Buy at Deutsche Bank. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage click here.
TKPYY Takeda Pharmaceutical Co. Ltd.
$21.39

0.13 (0.61%)

09/15/16
WELS
09/15/16
NO CHANGE
WELS
Street underestimating potential of PRA Health deal, says Wells Fargo
Wells Fargo believes that the Street is underestimating the potential benefit to PRA Health (PRAH) of its deal with Takeda (TKPYY). The firm expects PRA's bookings over the next year to significantly exceed the industry average, causing 2017 and 2018 consensus estimates for the company to rise. Wells raised its price target on PRA to $65-$67 from $56-$59 and keeps an Outperform rating on the shares.
09/14/16
SBSH
09/14/16
NO CHANGE
Target $4
SBSH
Neutral
Citi views Synergy Pharmaceuticals as potential target for Takeda
Citi analyst Liav Abraham calls Synergy Pharmaceuticals (SGYP) the most likely potential target for Takeda Pharmaceutical (TKPYY) among her coverage universe. The Financial Times earlier today reported that Takeda is ready to spend as much as $15B in acquisitions to expand its business in the United States. Abraham has a Neutral rating on Synergy with a $4 price target. The analyst sees Synergy as a potential target given the "extensive resources" needed to commercialize its lead asset, plecanatide, as well as Takdea's presence in the irritable bowel syndrome/chronic idiopathic constipation space. Shares of Synergy are up 6% to $5.18 in early trading.
07/07/16
UBSW
07/07/16
INITIATION
UBSW
Neutral
Takeda Pharmaceutical initiated with a Neutral at UBS
UBS analyst Atsushi Seki started Takeda with a Neutral rating and Y4,600 price target.
06/08/16
RHCO
06/08/16
NO CHANGE
RHCO
Ultragenyx collaboration with Takeda 'exceptionally positive,' says SunTrust
After Ultragenyx (RARE) announced a development and commercialization collaboration for rare genetic diseases with Takeda (TKPYY), SunTrust says the deal terms are "exceptionally positive" for Ultragenyx. The firm notes that the latter company will receive both compounds and cash payments from Takeda, while Takeda will only get comemrcial rights in Asia. The firm keeps a Buy rating on Ultragenyx.
WOOF VCA Inc.
$70.77

0.01 (0.01%)

10/24/16
BNCH
10/24/16
INITIATION
Target $90
BNCH
Buy
VCA Inc. initiated with a Buy at Benchmark
Benchmark analyst Raymond Myers initiated VCA Inc with a Buy and a $90 price target.
01/03/17
01/03/17
UPGRADE
Target $80

Strong Buy
VCA Inc upgraded to Strong Buy on fundamentals, tax optionality at Raymond James
As previously reported, Raymond James upgraded VCA Inc to Strong Buy from Outperform and raised its price target to $80 from $74. Analyst Nicholas Jansen changed his rating to reflect strengthening consumer confidence, underappreciated free cash flow yield and balance sheet capacity for deals, reasonable consensus estimates, and tax reform optionality.
01/09/17
WBLR
01/09/17
DOWNGRADE
WBLR
Market Perform
VCA Inc. downgraded to Market Perform from Outperform at William Blair
William Blair downgraded VCA Inc. to Market Perform citing the $93 per share takeout by Mars.
01/03/17
RAJA
01/03/17
UPGRADE
RAJA
Strong Buy
VCA Inc. upgraded to Strong Buy from Outperform at Raymond James
UNH UnitedHealth
$161.69

-0.72 (-0.44%)

12/01/16
FBCO
12/01/16
NO CHANGE
FBCO
Outperform
UnitedHealth policy for Exondys 51 a positive for Sarepta, says Credit Suisse
Credit Suisse analyst Alethia Young noted that Sarepta (SRPT) shares have been weak since UnitedHealth (UNH) posted its medical benefit policy for the company's DMD drug Exondys 51, but she doesn't see a reason for the weakness. She doesn't think encouraging home infusions limits access and believes the requirement for an every 6 month reauthorization is neither "prohibitive nor concerning" as it is standard with expensive rare disease treatments. She sees the policy as a positive for Sarepta, as having more payers supporting Exondys reimbursement makes it hard for other payers not to do so, and keeps an Outperform rating on Sarepta shares.
12/07/16
CANT
12/07/16
UPGRADE
CANT
Buy
UnitedHealth upgraded to Buy from Hold at Cantor
01/03/17
PIPR
01/03/17
INITIATION
Target $188
PIPR
Overweight
UnitedHealth initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Sarah James commenced co-coverage on UnitedHealth with an Overweight and a $188 price target, up from $155. Piper Jaffray's Healthcare IT Sr. Analyst, Sean Wieland, will continue to focus on Optum while James will provide a refreshed look at the managed care portion. James believes UnitedHealth will grow earnings above peers driven by capital deployment, best in class cost control, which drives market share gains, international expansion, and above consensus growth in Optum as it builds out relationships with existing customers and increasingly beats large peers on new contract wins.
12/23/16
JEFF
12/23/16
NO CHANGE
Target $89
JEFF
Buy
Jefferies expects Magellan to rally today on Virginia win
Jefferies analyst David Styblo expects shares of Magellan Health (MGLN) to rally today on the news that the company was one of seven managed care organizations selected for the $3.5B Virginia Managed Long Term Services and Supports initiative. Besides the financial benefit, the award shows Magellan can compete for business serving acute populations, Styblo tells investors in a research note titled "Santa Delivers Early for MGLN in Virginia." The other six winners include Aetna (AET), Anthem (ANTM), Humana (HUM), UnitedHealth (UNH), Optima Health and Virginia Premier, the analyst notes. Styblo reiterates a Buy rating on Magellan with an $89 price target.
SCAI Surgical Care Affiliates
$48.75

1.7 (3.61%)

09/22/16
RHCO
09/22/16
NO CHANGE
RHCO
Surgical Care Affiliates fundamentals 'compelling,' says SunTrust
After meeting with Surgical Care's management, SunTrust analyst David Macdonald says that the company has "strong core trends, industry tailwinds, robust growth/investment opportunities and robust free cash flow." He says that the company's pipeline is strong, while the company should continue to benefit from multiple trends in the healthcare sector. He keeps a Buy rating on the stock.
06/22/16
GSCO
06/22/16
DOWNGRADE
Target $48
GSCO
Neutral
Surgical Care Affiliates downgraded to Neutral from Buy at Goldman
Goldman analyst Matthew Borsch downgraded Surgical Care Affiliates to Neutral citing valuation and maintained its $48 price target.
01/04/17
SBSH
01/04/17
INITIATION
Target $50
SBSH
Neutral
Surgical Care Affiliates initiated with a Neutral at Citi
Citi analyst Ralph Giacobbe started Surgical Care Affiliates with a Neutral rating and $50 price target.
MCD McDonald's
$120.71

-0.05 (-0.04%)

01/06/17
UBSW
01/06/17
DOWNGRADE
Target $130
UBSW
Neutral
McDonald's downgraded to Neutral from Buy at UBS
UBS analyst Dennis Geiger downgraded McDonald's to Neutral saying the shares at current levels largely reflect improved fundamentals and refranchising benefits. The analyst wants to wait for greater conviction into traffic and sales acceleration and more upside to consensus estimates before getting more constructive on the shares. He keeps a $130 price target for McDonald's. The stock closed yesterday up 22c to $119.70.
12/22/16
RBCM
12/22/16
NO CHANGE
RBCM
McDonald's, Panera Bread, Starbucks named top restaurant picks at RBC Capital
RBC Capital analyst David Palmer named McDonald's (MCD), Panera Bread (PNRA) and Starbucks (SBUX) as his top restaurant picks heading into 2017. He thinks that their initiatives should improve their sales by mid-2017, while they could also benefit from improved industry trends and corporate tax changes. He adds that McDonald's could benefit from reduced food deflationary pressures, while all restaurants should be boosted by fiscal stimulus.
01/06/17
01/06/17
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. McDonald's (MCD) downgraded to Neutral from Buy at UBS with analyst Dennis Geiger saying the shares at current levels largely reflect improved fundamentals and refranchising benefits. 2. GoPro (GPRO) downgraded to Underperform from Neutral at Longbow with analyst Joe Wittine saying he predicts "another" fourth quarter camera sales miss as "a near-certainty." 3. Stryker (SYK) downgraded to Hold from Buy at Edward Jones and to Underperform from Hold at Needham. 4. Shake Shack (SHAK) downgraded to Neutral from Buy at Buckingham saying current valuation reflects "near-flawless execution." 5. Gartner (IT) downgraded to Neutral from Outperform at Macquarie with analyst Hamzah Mazari citing the CEB deal announcement given a lack of near-term catalysts and visibility surrounding revenue synergy execution. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/05/16
12/05/16
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. Nike (NKE) upgraded to Buy from Hold at HSBC. 2. Visa (V) upgraded to Buy from Neutral at Guggenheim. 3. TripAdvisor (TRIP) upgraded to Hold from Sell at Stifel with analyst Scott Devitt citing valuation. 4. McDonald's (MCD) upgraded to Buy from Neutral at Nomura with analyst Mark Kalinowski saying his checks indicate November will be one of the best same-store-sales quick-service burger sector in 2016 and raised McDonald's U.S. Q4 estimate by 150bp to -.5%, versus consensus of -1.6%. 5. Fastenal (FAST) upgraded to Outperform from Market Perform at William Blair with analyst Ryan Merkel saying now is the time to own short-cycle industrials. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CG Carlyle Group
$16.65

0.35 (2.15%)

04/28/16
KBWI
04/28/16
DOWNGRADE
Target $19
KBWI
Market Perform
Carlyle Group downgraded to Market Perform from Outperform at Keefe Bruyette
Keefe Bruyette analyst Robert Lee downgraded Carlyle Group to Market Perform saying the current valuation reflects more of the company's cash-generating potential. The analyst keeps a $19 price target for the shares following Carlyle's Q1 results
12/20/16
SBSH
12/20/16
UPGRADE
Target $19.5
SBSH
Carlyle Group upgraded to Buy from Neutral at Citi
Citi analyst William Katz upgraded Carlyle Group to Buy and raised its price target to $19.50 from $16.50. The analyst expects a favorable FPAUM inflection into 2017, setting the stable for the next DE upcycle, and views valuation as compelling.
03/04/16
LEHM
03/04/16
INITIATION
Target $17
LEHM
Equal Weight
Carlyle Group reinstated with an Equal Weight at Barclays
Barclays analyst Kenneth Hill reinstated Carlyle Group with an Equal Weight rating and $17 price target.
12/20/16
12/20/16
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. NVIDIA (NVDA) upgraded to Conviction Buy from Buy at Goldman with analyst Toshiya Hari saying he expects AI/ML capacity additions to drive TAM expansion, high barriers of entry faced by competition and NVIDIA continues to leverage its position to gain greater share of the ML hardware TAM. 2. Carlyle Group (CG) upgraded to Buy from Neutral at Citi with analyst William Katz saying he expects a favorable FPAUM inflection into 2017, setting the stable for the next DE upcycle, and views valuation as compelling. 3. Alcoa (AA) upgraded to Outperform from Neutral at Macquarie saying it is the best way to participate in the pick up in global GDP and recommends using any weakness to build or initiate positions. 4. AMD (AMD) upgraded to Buy on deep learning and AI opportunity at Mizuho with analyst Vijay Rakesh saying he sees deep learning and Artificial Intelligence as the next big computing paradigm and believes the company has an opportunity for deep learning with its new Radeon ProGFx/Ryzen products. 5. Caterpillar (CAT) upgraded to Positive from Mixed at OTR Global with the firm saying its checks indicate the rate of decline in year-over-year global new equipment orders has moderated in Q4 due to strength in EMEA and Asia/Pacific. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
GPN Global Payments
$79.53

5.08 (6.82%)

12/20/16
GUGG
12/20/16
INITIATION
Target $82
GUGG
Buy
Global Payments initiated with a Buy at Guggenheim
Guggenheim analyst Jeff Cantwell initiated Global Payments with a Buy and a $82 price target due to strong secular tailwinds in the "electronification" of money.
12/19/16
SBSH
12/19/16
NO CHANGE
Target $89
SBSH
Buy
Citi sees attractive entry point for Global Payments
Citi analyst Ashwin Shirvaikar believes shares of Global Payments offer an attractive entry point at current levels. The analyst's analysis indicates that organic growth concerns should abate over the next several months due to the lapping of the Mercury processing loss and the Heartland acquisition anniversary. He keeps a Buy rating on the shares with an $89 price target.
01/05/17
BMOC
01/05/17
INITIATION
Target $86
BMOC
Outperform
Global Payments initiated with an Outperform at BMO Capital
BMO Capital initiated Global Payments with an Outperform rating and $86 price target.
11/18/16
STFL
11/18/16
NO CHANGE
STFL
Global Payments added to Select List at Stifel
Noting that Global Payments' stock has been weak recently because of fears about the Trump Administration, Stifel analyst Christopher Brendler added the stock to the firm's Select List. He expects Global Payments' recent acquisition of Heartland to create significant revenue synergies and enable Global's key U.S. businesses to report higher than expected revenue. He expects the company to beat 2017 expectations, and he keeps a Buy rating on the shares.
EXAS Exact Sciences
$15.10

-0.08 (-0.53%)

01/09/17
BARD
01/09/17
NO CHANGE
Target $22
BARD
Outperform
Exact Sciences well positioned for 2017, says Baird
Baird analyst Catherine Ramsey noted Exact Sciences reported better than expected Q4 results. The analyst also noted the company picked up surprisingly higher than expected ordering physicians. With extended commercial insurance coverage, a national TV advertising campaign, and USPSTF and HEDIS inclusion, the shares are set up well, said Ramsey, who reiterated her Outperform rating and $22 price target on Exact Sciences shares.
01/05/17
CHLM
01/05/17
NO CHANGE
Target $26
CHLM
Buy
Exact Sciences BCBSA review a catalyst for increased coverage, says Craig-Hallum
After Exact Sciences announced that the Blue Cross Blue Shield Association, or BCBSA, released a positive review of Cologuard, Craig-Hallum analyst Bill Bonello predicted the review should be a catalyst for increased coverage from the BCBSA companies and for other health plans who look to the BCBSA when making coverage decisions. Bonello, who thinks Cologuard coverage is "reaching a critical mass" where it will be difficult for other large insurers to not cover the test, reiterates his Buy rating and $26 price target on Exact Sciences.
12/20/16
BARD
12/20/16
NO CHANGE
Target $22
BARD
Outperform
Exact Sciences weakness seems overdone, says Baird
Baird analyst Catherine Ramsey met with Exact Sciences management and came away with an optimistic outlook for the business. The analyst noted management's tone seemed optimistic about Q4 trends, citing strong orders, its national TV campaign, and conversations with doctors about ordering behaviors. Ramsey said the recent weakness in the shares seems to be overdone and she reiterated her Outperform rating and $22 price target on Exact Sciences shares.
11/09/16
ADAM
11/09/16
NO CHANGE
Target $24
ADAM
Buy
Exact Sciences Q4 guidance should not be a concern, says Canaccord
Canaccord analyst Mark Massaro noted Exact Sciences promoted Jeff Elliott to CFO and admitted the timing was surprising. The analyst feels the change has zero impact on the outlook for Q4 and is not concerned about the company's financial condition. Massaro reiterated his Buy rating and $24 price target on Exact Sciences shares.
AMAG AMAG Pharmaceuticals
$35.70

-0.15 (-0.42%)

01/05/17
JEFF
01/05/17
NO CHANGE
JEFF
Celgene, Alkermes among Jefferies' top 2017 Biotech picks
Jefferies' Biotechnology equity research team laid out their top picks for 2017. Following a volatile two years, the biotech space seeks to achieve "greater equilibrium" in 2017, the analysts write in a research note. They cite increasing competition, slowing volumes, and ramping payer leverage as reasons to remain selective when picking stocks this year and beyond. Among large-caps, Jefferies likes Celgene (CELG) for its "best-in-class growth" and sees limited downside in Gilead (GILD) shares. In the mid-cap space, the firm favors Alkermes (ALKS) given the prospects for Vivitrol and Aristada and a "strong" neurology pipeline as well as Vertex (VRTX). Jefferies' top small-cap picks include Aevi Genomics Medicine, Alder Biopharmaceuticals (ALDR), AMAG Pharmaceuticals (AMAG), DBV Technologies (DBVT), Immunomedics (IMMU), Ignyta (RXDX), Karyopharm (KPTI), RA Pharmaceuticals (RARX), TherapeuticsMD (TXMD) and Xenon Pharmaceuticals (XENE).
01/03/17
JANY
01/03/17
INITIATION
Target $45
JANY
Buy
AMAG Pharmaceuticals initiated with a Buy at Janney Capital
Janney Capital initiated AMAG Pharmaceuticals with a BUy and a $45 price target. Ken Trbovich said AMAG's introduction of a new formulation of Makena resulted in an 11% market share gain, on a doubling in prescriptions in just six months. He expects growth to continue well into 2017, setting AMAG shares up to benefit from excellent 4Q16 results and positive 2017 guidance because Makena accounts for 60% of AMAG's revenues. Additionally, Trbovich expects data from Makena SQ in Q1 to increase confidence in the company's ability to defend the franchise.
01/03/17
RAJA
01/03/17
NO CHANGE
RAJA
Drug price hikes continue unabated, says Raymond James
In a research note titled "Think the Era of Drug Price Increases is Over? Think Again.," Raymond James analyst Christopher Raymond says drug price increases in 2017 are continuing unabated. According to Wolters Kluwer Health, January 1 saw a "sizeable amount of key biotech drug price increases," Raymond tells investors. The price hikes look in-line with previous patterns, or - in the case of Biogen (BIIB) - "measurably more aggressive than norm," the analyst contends. Of the names he follows, Biogen, Acorda Therapeutics (ACOR) and AMAG Pharmaceuticals (AMAG) implemented increases. Raymond also highlights AstraZeneca's (AZN) 5% Lynparza increase and Roche's (RHHBY) "slew of increases" with Actemra up 1.5%, Herceptin up 3%, Pegasys up 5%.
01/09/17
RAJA
01/09/17
DOWNGRADE
RAJA
Underperform
AMAG Pharma downgraded to Underperform from Market Perform at Raymond James
PTN Palatin
$0.53

-0.0192 (-3.49%)

11/02/16
ROTH
11/02/16
NO CHANGE
Target $7
ROTH
Buy
Palatin price target raised to $7 from $4 at Roth Capital
AYI Acuity Brands
$203.14

-34.22 (-14.42%)

12/20/16
12/20/16
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. Amgen (AMGN) downgraded to Neutral from Outperform at Credit Suisse with analyst Alethia Young saying she has a lower conviction in the base business and sees limited upside to positive PCSK9 outcomes in the first quarter of 2017 given high expectations. 2. Bed Bath & Beyond (BBBY) downgraded to Underperform from Neutral at Cleveland Research with analyst Daryl Boehringer citing checks that indicate comp trends remain "uninspiring" given declining traffic, online migration, lack of market share gains. 3. Sibanye Gold (SBGL) downgraded to Sell from Hold at Deutsche Bank with analyst Patrick Mann saying he expects a "challenging" 2017 for the company as EBITDA declines. 4. Cempra (CEMP) downgraded to Sell from Buy at SunTrust with analyst Edward Nash saying says he expects the FDA to provide complete response letters for the company's solithromycin treatment due to manufacturing issues. 5. Acuity Brands (AYI) downgraded to Neutral from Outperform at Baird with analyst Timothy Wojs saying he believes a near-term demand lull could keep the stock range bound over the next couple of quarters, leaving a thin margin for error. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/20/16
BARD
12/20/16
DOWNGRADE
Target $265
BARD
Neutral
Acuity Brands downgraded to Neutral at Baird
As previously, reported, Baird analyst Timothy Wojs downgraded Acuity Brands to Neutral from Outperform. The analyst believes a near-term demand lull could keep the stock range bound over the next couple of quarters, leaving a thin margin for error. Wojs lowered his price target to $265 from $272 on Acuity Brands shares.
12/20/16
BARD
12/20/16
DOWNGRADE
BARD
Neutral
Acuity Brands downgraded to Neutral from Outperform at Baird
12/08/16
JMPS
12/08/16
INITIATION
Target $200
JMPS
Underperform
Acuity Brands initiated with an Underperform at JMP Securities
JMP Securities analyst Joseph Osha initiated Acuity Brands with an Underperform and a $200 price target. The analyst believes shares are richly valued and consensus expectations already reflect a near-perfect set of outcomes over the next 2 years.
FIVE Five Below
$39.72

-1.23 (-3.00%)

10/20/16
MKMP
10/20/16
NO CHANGE
MKMP
Five Below weakness creates buying opportunity, says MKM Partners
Noting that Five Below has tumbled 29% since July, MKM analyst Patrick McKeever attributes the weakness to several factors, including the decline of the Pokemon Go craze and speculation about a drop in credit card transactions last quarter. The analyst says that little has changed about the company since July, and he says that the stock's valuation is low by historic standards. He keeps a $60 price target and Buy rating on the shares.
12/02/16
RBCM
12/02/16
NO CHANGE
RBCM
Five Below reported 'impressive' results, says RBC Capital
After Five Below reported lower than expected Q3 comp sales, RBC Capital analyst Scot Ciccarelli blames the miss on pre-election worries and notes that the company's revenue came in close to his $201M estimate while trends improved last month and margins beat expectations. The analyst remains upbeat on the company's longer term outlook and recommends buying the stock.
10/26/16
LBOW
10/26/16
INITIATION
Target $45
LBOW
Buy
Five Below initiated with a Buy at Longbow
Longbow analyst Mark Rupe initiated Five Below with a Buy and a $45 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.
PG Procter & Gamble
$84.10

-0.935 (-1.10%)

12/22/16
12/22/16
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. Procter & Gamble (PG) downgraded to Hold from Buy at SunTrust with analyst William Chappell, Jr. predicting that, "foreign exchange headwinds and waning investor appetites for higher yields" will cause the stock "to stay in a trading range in coming quarters." 2. Praxair (PX) downgraded to Underperform from Outperform at CLSA. 3. Bed Bath & Beyond (BBBY) downgraded to Market Perform from Strong Buy at Raymond James with analyst Budd Bugatch saying Bed Bath still has a long runway ahead before it realizes benefits from technology investments, membership program, and recent investments in One Kings Lane and PMall.com. 4. Finish Line (FINL) downgraded to Neutral from Buy at Monness Crespi, to Neutral from Outperform at Wedbush, to Hold from Buy at Canaccord, to Neutral from Buy at B. Riley, and to Neutral from Buy at BofA/Merrill. 5. Red Hat (RHT) downgraded to Hold from Buy at Stifel and to Market Perform from Outperform at BMO 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.
01/09/17
GSCO
01/09/17
DOWNGRADE
GSCO
Sell
Procter & Gamble downgraded to Sell, HPC sector to Cautious at Goldman
Goldman analyst Jason English lowered Home and Personal Care, or HPC, sector to Cautious from Neutral saying potentially rising rates are a headwind to valuation, expects fundamentals to remain challenged on sluggish end market demand and big brand share challenges, and incremental headwinds from the rising US dollar. Against this backdrop, English downgraded Procter & Gamble to Sell and lowered its price target to $77 from $86 due to a "stretched" valuation and estimate risk if the turnaround falters. The analyst lowered estimates saying he sees incremental risk to organic growth as last quarter's organic sales of 3.5% may prove unsustainable and comparisons become more difficult. English said the promotional surge could fail to translate into share gains and expects sustained market share vulnerability if Procter purses its maga-brand strategy in a growing fragmented market.
01/09/17
01/09/17
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. Procter & Gamble (PG) downgraded to Sell at Goldman with analyst Jason English lowering the Home and Personal Care, or HPC, sector to Cautious from Neutral saying potentially rising rates are a headwind to valuation, expects fundamentals to remain challenged on sluggish end market demand and big brand share challenges, and incremental headwinds from the rising US dollar. Against this backdrop, English downgraded Procter & Gamble to Sell and lowered its price target to $77 from $86 due to a "stretched" valuation and estimate risk if the turnaround falters. 2. Coca-Cola (KO) downgraded to Sell from Neutral at Goldman with analyst Jason English saying he sees less potential benefit from tax policy for large multi-nationals and estimate risk from sub-par organic sales growth. The analyst lowered his price target to $39 from $41. 3. Philip Morris (PM) downgraded to Buy from Conviction Buy at Goldman with analyst Judy Hong citing increased foreign exchange risk. 4. Weatherford (WFT) downgraded to Equal Weight from Overweight at Barclays with analyst J. David Anderson citing uncertainty around management and the company's strategy. The analyst also raised his view on the Oilfield Services space to Positive from Neutral. He lowered his price target for Weatherford shares to $7 from $8. 5. VMware (VMW) downgraded to Neutral from Buy at UBS with analyst Brent Thill citing his "increasingly selective" stance for U.S. Software stocks in 2017. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/22/16
RHCO
12/22/16
DOWNGRADE
RHCO
Hold
Procter & Gamble downgraded on negative catalysts at SunTrust
As noted earlier, SunTrust downgraded Procter & Gamble to Hold from Buy. Analyst William Chappell, Jr. predicts that, "foreign exchange headwinds and waning investor appetites for higher yields" will cause the stock "to stay in a trading range in coming quarters." Target to $85 from $95.
KO Coca-Cola
$41.37

-0.37 (-0.89%)

01/09/17
GSCO
01/09/17
DOWNGRADE
GSCO
Sell
Coca-Cola downgraded to Sell from Neutral at Goldman
Goldman analyst Jason English lowered Home and Personal Care, or HPC, sector to Cautious from Neutral saying potentially rising rates are a headwind to valuation, expects fundamentals to remain challenged on sluggish end market demand and big brand share challenges, and incremental headwinds from the rising US dollar. Against this backdrop, English downgraded Coca-Cola to Sell and lowered its price target to $39 from $41 saying its sees less potential benefit from tax policy for large multi-nationals and estimate risk from sub-par organic sales growth.
01/09/17
01/09/17
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. Accenture (ACN) initiated with an Outperform at William Blair. 2. Coca-Cola European Partners was initiated with an Overweight at Barclays, while Coca-Cola (KO) and Dr Pepper Snapple (DPS) were initiated with an Equal Weight. 3. TiGenix (TIG) was initiated with a Buy at BofA/Merrill, a Buy at Canaccord, and an Outperform at Cowen. 4. WildHorse Resource (WRD) was initiated with an Overweight at Barclays, an Overweight at Piper Jaffray, an Outperform at Wells Fargo, a Buy at BofA/Merrill, a Buy at Guggenheim, and an Outperform at BMO Capital. 5. Hormel Foods (HRL) initiated with an Overweight at Piper Jaffray. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
01/09/17
LEHM
01/09/17
INITIATION
Target $42
LEHM
Equal Weight
Coca-Cola initiated with an Equal Weight at Barclays
Barclays analyst Lauren Lieberman started Coca-Cola with an Equal Weight rating and $42 price target.

TODAY'S FREE FLY STORIES

AKER

Akers Biosciences

$2.15

0.2 (10.26%)

16:28
03/30/17
03/30
16:28
03/30/17
16:28
Syndicate
Akers Biosciences announces $2M private placement »

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    Mar

FC

Franklin Covey

$16.05

0.1 (0.63%)

16:27
03/30/17
03/30
16:27
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16:27
Hot Stocks
Franklin Covey says affirms FY17 guidance »

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XLNX

Xilinx

$57.88

-0.14 (-0.24%)

16:27
03/30/17
03/30
16:27
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16:27
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MRVL

Marvell

$15.61

-0.13 (-0.83%)

16:27
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NRE

Northstar Realty Europe Corp.

$11.63

0.02 (0.17%)

16:27
03/30/17
03/30
16:27
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16:27
Hot Stocks
Northstar Realty Europe Corp. CFO Scott Berry to resign, effective May 10 »

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QCOM

Qualcomm

$57.20

-0.16 (-0.28%)

16:26
03/30/17
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Initiation
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FB

Facebook

$142.41

-0.24 (-0.17%)

16:26
03/30/17
03/30
16:26
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16:26
Periodicals
Oculus co-founder and Rift creator Palmer Luckey leaves Facebook, Upload says 

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QRVO

Qorvo

$69.08

1.23 (1.81%)

16:26
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03/30
16:26
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16:26
Initiation
Qorvo initiated  »

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  • 04

    Apr

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    Apr

NFX

Newfield Exploration

$36.71

0.41 (1.13%)

16:26
03/30/17
03/30
16:26
03/30/17
16:26
Hot Stocks
Newfield Exploration to build new water recycling facility in Oklahoma »

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  • 03

    May

TXN

Texas Instruments

$81.04

0.55 (0.68%)

16:25
03/30/17
03/30
16:25
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16:25
Initiation
Texas Instruments initiated  »

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  • 20

    Apr

  • 09

    May

NVDA

NVIDIA

16:25
03/30/17
03/30
16:25
03/30/17
16:25
Initiation
NVIDIA initiated  »

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  • 06

    Apr

FC

Franklin Covey

$16.05

0.1 (0.63%)

16:25
03/30/17
03/30
16:25
03/30/17
16:25
Earnings
Franklin Covey reports Q2 EPS (24c), consensus (22c) »

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  • 30

    Mar

AMD

AMD

$14.05

0.34 (2.48%)

16:25
03/30/17
03/30
16:25
03/30/17
16:25
Initiation
AMD initiated  »

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03/08/13
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AMZN

Amazon.com

$876.34

2.02 (0.23%)

, WMT

Wal-Mart

$71.59

0.85 (1.20%)

16:25
03/30/17
03/30
16:25
03/30/17
16:25
General news
On The Fly: Top stock stories for Thursday »

Stock advanced, with the…

AMZN

Amazon.com

$876.34

2.02 (0.23%)

WMT

Wal-Mart

$71.59

0.85 (1.20%)

LULU

lululemon

$50.76

-15.54 (-23.44%)

COP

ConocoPhillips

$50.00

4.05 (8.81%)

GIS

General Mills

$59.07

-0.37 (-0.62%)

MDLZ

Mondelez

$43.28

-0.47 (-1.07%)

TGT

Target

$55.25

0.1 (0.18%)

COST

Costco

$167.89

0.46 (0.27%)

PG

Procter & Gamble

$90.20

-0.4 (-0.44%)

UN

Unilever; also tag UL

$49.86

-0.48 (-0.95%)

UL

Unilever; also tag UN

$49.63

-0.43 (-0.86%)

PEP

PepsiCo

$112.18

-0.25 (-0.22%)

KMB

Kimberly-Clark

$132.24

-0.29 (-0.22%)

CVE

Cenovus Energy

$11.29

-1.79 (-13.69%)

FCX

Freeport McMoRan

$13.31

0.59 (4.64%)

EXTR

Extreme Networks

$7.38

0.92 (14.24%)

BRCD

Brocade

$12.44

0.01 (0.08%)

AVGO

Broadcom

$220.04

-1.27 (-0.57%)

PVTB

PrivateBancorp

$59.00

2.8 (4.98%)

CM

CIBC

$85.31

-2.61 (-2.97%)

CRBP

Corbus Pharmaceuticals

$7.95

-1.05 (-11.67%)

WOR

Worthington

$45.97

-4.66 (-9.20%)

SCWX

SecureWorks

$9.68

-0.65 (-6.29%)

03/08/13
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  • 04

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  • 06

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  • 02

    Jun

  • 06

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  • 20

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  • 30

    Oct

  • 30

    Mar

16:25
03/30/17
03/30
16:25
03/30/17
16:25
Conference/Events
Federal Reserve Bank of New York President speaks on financial conditions »

New York Federal Reserve…

NH

NantHealth

$5.09

0.13 (2.62%)

16:24
03/30/17
03/30
16:24
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16:24
Earnings
NantHealth reports Q4 adjusted EPS (18c), consensus (19c) »

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  • 30

    Mar

  • 06

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CAVM

Cavium

$71.47

0.11 (0.15%)

16:24
03/30/17
03/30
16:24
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16:24
Initiation
Cavium initiated  »

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  • 04

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  • 05

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  • 09

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SWKS

Skyworks

$98.14

0.91 (0.94%)

16:24
03/30/17
03/30
16:24
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16:24
Initiation
Skyworks initiated  »

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  • 04

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  • 30

    May

AVGO

Broadcom

$220.04

-1.27 (-0.57%)

16:24
03/30/17
03/30
16:24
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16:24
Initiation
Broadcom initiated  »

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  • 06

    Apr

MXIM

Maxim Integrated

$44.92

0.15 (0.34%)

16:23
03/30/17
03/30
16:23
03/30/17
16:23
Initiation
Maxim Integrated initiated  »

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INTC

Intel

$35.75

0.18 (0.51%)

16:23
03/30/17
03/30
16:23
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16:23
Initiation
Intel initiated  »

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  • 04

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    Apr

  • 02

    May

DRIO

DarioHealth

$3.90

-0.0899 (-2.25%)

16:21
03/30/17
03/30
16:21
03/30/17
16:21
Syndicate
DarioHealth announces offering of common stock, no amount given »

Aegis Capital Corp. is…

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VIX

Volatility Index S&P 500 Options

$11.61

0.19 (1.66%)

16:21
03/30/17
03/30
16:21
03/30/17
16:21
Options
Closing CBOE SPX and VIX Index summary for March 30th »

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MU

Micron

$28.97

0.47 (1.65%)

16:21
03/30/17
03/30
16:21
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16:21
Initiation
Micron initiated  »

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  • 06

    Apr

MULE

MuleSoft

$23.71

-0.09 (-0.38%)

16:20
03/30/17
03/30
16:20
03/30/17
16:20
Hot Stocks
Breaking Hot Stocks news story on MuleSoft »

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