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TSRO

TESARO

$148.85

5.27 (3.67%)

, ARIA

ARIAD

$23.75

10.01 (72.85%)

08:11
01/10/17
01/10
08:11
01/10/17
08:11

ARIAD acquisition supports potential takeout premium for TESARO, says Leerink

Leerink analyst Seamus Fernandez says the acquisition of ARIAD (ARIA) by Takeda (TKPYY) for $24 per share appears to be relatively in-line with other commercial stage acquisitions, and supports a potential acquisition price for TESARO (TSRO) of greater than $170 per share based on consensus forecasts. While TESARO remains well positioned to grow independently, the analyst believes a validated PARP inhibitor like niraparib could offer a durable and strategically important product opportunity for multiple suitors. He reiterates an Outperform rating on TESARO's shares.

TSRO

TESARO

$148.85

5.27 (3.67%)

ARIA

ARIAD

$23.75

10.01 (72.85%)

TKPYY

Takeda Pharmaceutical Co. Ltd.

$21.72

0.33 (1.54%)

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    Jun

TSRO TESARO
$148.85

5.27 (3.67%)

12/21/16
JANY
12/21/16
NO CHANGE
Target $44
JANY
Neutral
Clovis price target raised to $44 from $38 at Janney Capital
Janney Capital analyst Debjit Chattopadhyay raised his price target for Clovis Oncology to $44 to reflect his assumption of $36M in Rubraca sales for FY17. Clovis is launching Rubraca in the U.S. with around 85 sales reps, and the analyst assumes a similar sized organization in the major European markets. He assumes Clovis launches the drug without a partner in Europe. He believes the FDA's position on competitor TESARO's (TSRO) niraparib will have implications for Clovis prior to the ARIEL3 data. Chattopadhyay keeps a Neutral rating on Clovis. The stock is up 8% to $45.86 in midday trading.
01/09/17
LEER
01/09/17
NO CHANGE
Target $152
LEER
Outperform
TESARO price target raised to $152 from $115 at Leerink
Leerink analyst Seamus Fernandez raised his price target for TESARO to $152 from $115 to fully incorporate his high expectations for a broad label and reflect niraparib's transformation to a commercial stage asset. The analyst notes that the "strong data" from niraparib's NOVA trial, along with the lack of an expected FDA panel, should result in a broad label in the second-line or greater ovarian cancer maintenance setting, while ongoing niraparib trials in breast cancer and front-line ovarian cancer maintenance and the company's IO platform should be additional potential drivers of upside for the stock. Fernandez sees TESARO as an "attractive takeout target," and reiterates an Outperform rating on the shares.
01/04/17
GABE
01/04/17
NO CHANGE
GABE
Gabelli sees Incyte as more likely target following Gilead hire
Gilead (GILD) is more likely to buy Incyte (INCY) after naming Alessandro Riva to head its Hematology and Oncology Therapeutic unit, Gabelli analyst Jing He tells investors in a research note. Dr. Riva is a Novartis (NVS) veteran while Incyte is led by a team of Novartis veterans and has collaborated with Novartis Oncology on its key drug, Jakafi, the analyst points out. He believes Incyte is "big enough to move the needle" and bring long term growth to Gilead. The analyst lists Seattle Genetics (SGEN) and TESARO (TSRO) as other potential targets for the biotech giant. He believes Incyte is the "best fit."
12/27/16
FBRC
12/27/16
NO CHANGE
Target $151
FBRC
Outperform
FBR Capital ups TESARO price target to $151
FBR Capital analyst Ed White raised his price target for TESARO to $151 from $133 and keeps the Outperform rating on the shares. The oncology-focused biopharmaceutical company closed Friday up $7.27 to $139.86. TESARO recently announced that the FDA has granted Priority Review for niraparib with a June 30, 2017 action date, White tells investors in a research note. He believes niraparib could be a potential blockbuster PARP inhibitor. Meanwhile, the launch of Varubi continues to "ramp up," with sequential quarter-over-quarter unit growth of 14%, the analyst writes. White says the drug achieved a 28% share of the oral NK-1 market in the U.S. in September.
ARIA ARIAD
$23.75

10.01 (72.85%)

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.
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.
01/10/17
LEHM
01/10/17
UPGRADE
Target $24
LEHM
Equal Weight
ARIAD upgraded to Equal Weight from Underweight at Barclays
Barclays analyst Paul Choi upgraded ARIAD Pharmaceuticals to Equal Weight saying the all cash acquisition by Takeda is a positive outcome for shareholders. The analyst assumes the deal closes with no competing bids and upped his price target for the shares to $24 from $9.
01/10/17
JEFF
01/10/17
DOWNGRADE
Target $24
JEFF
Hold
ARIAD downgraded to Hold from Buy at Jefferies
Jefferies analyst Eun Yang downgraded ARIAD Pharmaceuticals to Hold on expectations the Takeda acquisition will close by the end of February. The analyst views the deal as a "nice surprise at a significant premium." She raised her price target for the shares to $24 from $11.
TKPYY Takeda Pharmaceutical Co. Ltd.
$21.72

0.33 (1.54%)

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.
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.

TODAY'S FREE FLY STORIES

02:40
01/18/17
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02:40
General news
FX Update: The dollar recouped some of yesterday's lost ground »

FX Update: The dollar…

C

Citi

$58.38

-1.25 (-2.10%)

, GS

Goldman Sachs

$235.74

-8.56 (-3.50%)

20:25
01/17/17
01/17
20:25
01/17/17
20:25
Earnings
Notable companies reporting before tomorrow's open »

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Citi

$58.38

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GS

Goldman Sachs

$235.74

-8.56 (-3.50%)

USB

U.S. Bancorp

$50.31

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AMTD

TD Ameritrade

$45.87

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NTRS

Northern Trust

$88.15

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FAST

Fastenal

$48.26

0.205 (0.43%)

CBSH

Commerce Bancshares

$55.90

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TOSBF

Toshiba, also use TOSYY

$2.60

0.094709 (3.77%)

, TOSYY

Toshiba, also use TOSBF

$15.35

0.37 (2.47%)

20:05
01/17/17
01/17
20:05
01/17/17
20:05
Periodicals
Toshiba says considers spinoff of memory chip unit, Bloomberg reports »

Toshiba (TOSBF) is…

TOSBF

Toshiba, also use TOSYY

$2.60

0.094709 (3.77%)

TOSYY

Toshiba, also use TOSBF

$15.35

0.37 (2.47%)

WDC

Western Digital

$71.62

0.62 (0.87%)

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  • 25

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TM

Toyota

$118.41

-1.4 (-1.17%)

, AIQUY

Air Liquide

$21.97

-0.245 (-1.10%)

19:56
01/17/17
01/17
19:56
01/17/17
19:56
Hot Stocks
Thirteen energy, transport, industrial companies launch 'Hydrogen Council' »

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Toyota

$118.41

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AIQUY

Air Liquide

$21.97

-0.245 (-1.10%)

ALSMY

Alstom

NGLOY

Anglo American

$8.14

0.1 (1.24%)

BAMXY

BMW Group

DDAIF

Daimler AG

$75.35

-0.24 (-0.32%)

HMC

Honda

$29.66

-0.42 (-1.40%)

HYMLF

Hyundai Motor Co

RDS.A

Royal Dutch Shell

$55.54

0.06 (0.11%)

RDS.B

Royal Dutch Shell

$58.91

0.24 (0.41%)

LNAGF

Linde AG

$161.90

-0.15 (-0.09%)

TOT

Total

$51.51

-0.08 (-0.16%)

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  • 02

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NYT

New York Times

$13.50

-0.1 (-0.74%)

19:30
01/17/17
01/17
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19:30
Hot Stocks
New York Times releases internal report on newsroom strategy »

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ENRJ

EnerJex Resources

19:19
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01/17
19:19
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Hot Stocks
EnerJex announces NYSE acceptance of plan to meet listing standards »

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GS

Goldman Sachs

$235.74

-8.56 (-3.50%)

19:19
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01/17
19:19
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Periodicals
Goldman Sachs compliance chief to step down, Reuters says »

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TWTR

Twitter

$16.96

-0.29 (-1.68%)

19:13
01/17/17
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19:13
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19:13
Periodicals
Twitter phases out 'buy' button, TechCrunch says »

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  • 28

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HSBC

HSBC

$41.18

0.02 (0.05%)

19:04
01/17/17
01/17
19:04
01/17/17
19:04
Periodicals
HSBC CEO: Trading ops generating 20% of London revenue may move, Bloomberg says »

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HSBC

HSBC

$41.18

0.02 (0.05%)

19:02
01/17/17
01/17
19:02
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19:02
Periodicals
HSBC CEO: 10% RoE may be new goal, Bloomberg says »

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CWT

California Water Service

$33.05

0.05 (0.15%)

19:01
01/17/17
01/17
19:01
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19:01
Initiation
California Water Service initiated  »

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AWK

American Water

$72.07

1.25 (1.77%)

19:01
01/17/17
01/17
19:01
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19:01
Initiation
American Water initiated  »

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TOSBF

Toshiba, also use TOSYY

$2.60

0.094709 (3.77%)

, TOSYY

Toshiba, also use TOSBF

$15.35

0.37 (2.47%)

18:59
01/17/17
01/17
18:59
01/17/17
18:59
Periodicals
Toshiba: Considering spinning off chip unit, Bloomberg reports »

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Toshiba, also use TOSYY

$2.60

0.094709 (3.77%)

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Toshiba, also use TOSBF

$15.35

0.37 (2.47%)

WDC

Western Digital

$71.62

0.62 (0.87%)

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  • 25

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KSU

Kansas City Southern

18:57
01/17/17
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18:57
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Initiation
Kansas City Southern initiated  »

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  • 20

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NSC

Norfolk Southern

$108.90

-2.69 (-2.41%)

18:57
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18:57
Initiation
Norfolk Southern initiated  »

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UNP

Union Pacific

$103.37

-1.88 (-1.79%)

18:57
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18:57
Initiation
Union Pacific initiated  »

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AZO

AutoZone

$782.29

2.48 (0.32%)

18:54
01/17/17
01/17
18:54
01/17/17
18:54
Initiation
AutoZone initiated  »

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ORLY

O'Reilly Automotive

$278.76

-0.39 (-0.14%)

18:54
01/17/17
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18:54
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18:54
Initiation
O'Reilly Automotive initiated  »

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  • 08

    Feb

AAP

Advance Auto Parts

$173.00

-1.79 (-1.02%)

18:54
01/17/17
01/17
18:54
01/17/17
18:54
Initiation
Advance Auto Parts initiated  »

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ESTE

Earthstone Energy

$13.40

-0.18 (-1.33%)

18:51
01/17/17
01/17
18:51
01/17/17
18:51
Initiation
Earthstone Energy initiated  »

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MCK

McKesson

$148.43

1.25 (0.85%)

18:41
01/17/17
01/17
18:41
01/17/17
18:41
Upgrade
McKesson rating change  »

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  • 25

    Jan

NRG

NRG Energy

$15.34

0.74 (5.07%)

18:38
01/17/17
01/17
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18:38
Hot Stocks
NRG Energy says 'looks forward to an open dialogue with Elliott and Bluescape' »

NRG Energy received a…

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  • 28

    Feb

LMCA

Liberty Media

$28.71

-1.53 (-5.06%)

, LMCK

Liberty Media

$28.72

-1.54 (-5.09%)

18:22
01/17/17
01/17
18:22
01/17/17
18:22
Hot Stocks
Liberty Media holders approve proposals relating to acquisition of Formula 1 »

Liberty Media announced…

LMCA

Liberty Media

$28.71

-1.53 (-5.06%)

LMCK

Liberty Media

$28.72

-1.54 (-5.09%)

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AUY

Yamana Gold

$3.26

0.09 (2.84%)

18:17
01/17/17
01/17
18:17
01/17/17
18:17
Hot Stocks
Yamana Gold announces resumption of operations at El Penon Mine in Chile »

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CCJ

Cameco

$13.27

-0.02 (-0.15%)

18:14
01/17/17
01/17
18:14
01/17/17
18:14
Hot Stocks
Cameco down 9.5% after announcing FY16 results will be lower than expected »

In after-hours trading,…

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