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MACK

Merrimack

$3.21

0.1 (3.22%)

, SHPG

Shire

$178.25

1.27 (0.72%)

10:24
03/16/17
03/16
10:24
03/16/17
10:24

Merrimack strength attributed to takeover specuation

Traders are attributing the move higher in shares of Merrimack Pharmaceuticals (MACK) to speculation of a takeover. The conjecture has Shire (SHPG) as the potential suitor. The Fly, in fulfilling its mission of explaining stock movement, often comes across the many unconfirmed rumors being passed through trading desks and social media platforms. On the occasion that rumors or speculation appear on The Fly's news feed, it should be viewed not as giving credence to the conjecture, rather as simply highlighting its impact on the stock prices of the companies involved. Shares of Merrimack are up 5%, or 17c, to $3.38 in morning trading.

MACK

Merrimack

$3.21

0.1 (3.22%)

SHPG

Shire

$178.25

1.27 (0.72%)

  • 01

    Apr

  • 26

    Jun

MACK Merrimack
$3.21

0.1 (3.22%)

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.
01/30/17
JANY
01/30/17
NO CHANGE
Target $44
JANY
Neutral
Clovis rally has taken stock up 'too far too fast,' says Janney Capital
Janney Capital analyst Debjit Chattopadhyay noted that Clovis (CLVS) shares are up about 41% year-to-date, citing accelerated approval for its rucaparib drug in advanced ovarian cancer, the all cash acquisition of Ariad (ARIA) and the $575M divestiture with potential for further payments of Merrimack's (MACK) Onivyde franchise as among the tailwinds driving Clovis shares higher. However, a "near-term Clovis buyout may not materialize" until key competitive readouts settle the debate on the equivalency/superiority of various PARP inhibitors, Chattopadhyay tells investors. Based on near-term uncertainties, he advises waiting for a better entry point to Clovis shares, on which he has a Neutral rating and $44 fair value estimate.
SHPG Shire
$178.25

1.27 (0.72%)

12/06/16
UBSW
12/06/16
DOWNGRADE
UBSW
Neutral
Shire downgraded to Neutral from Buy at UBS
01/19/17
01/19/17
NO CHANGE

Shire's application for ADHD disorder candidate acknowledged by FDA
Shire announced that the FDA has acknowledged receipt of the Class 2 resubmission of a New Drug Application for SHP465, a long-acting, triple-bead, mixed amphetamine salts formulation. SHP465 is being evaluated as a potential once-daily treatment for Attention-Deficit/Hyperactivity Disorder. The FDA is expected to provide a decision on or around June 20. Shire resubmitted the NDA for SHP465 in response to the Approvable Letter from the FDA that requested additional clinical studies and classified the response as a Class 2 resubmission with a review goal of six months. Launch is planned for the second half of 2017.
03/07/17
LEHM
03/07/17
INITIATION
LEHM
Overweight
Shire reinstated with an Overweight at Barclays
After his firm dropped coverage in June 2016, Barclays analyst Emmanuel Papadakis reinstated Shire with an Overweight rating and GBP 65 price target. The rating is unchanged from last year.
03/07/17
LEHM
03/07/17
NO CHANGE
LEHM
European Pharma raised to Positive from Neutral at Barclays
Barclays analyst Emmanuel Papadakis rolled out coverage of the European Pharmaceuticals space and upgraded his sector view to Positive from Neutral. The analyst has "high conviction that the recent transformational era of R&D innovation is set to continue," which he believes will allow the sector to retain pricing power. Papadakis put Overweight ratings on AstraZeneca (AZN), Roche (RHHBY) and Shire (SHPG), with Astra his top pick. The analyst put an Equal Weight rating on GlaxoSmithKline (GSK) and Underweight ratings on Sanofi (SNY), Novartis (NVS) and Novo Nordisk (NVO).

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GE

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LZB

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VLKAY

Volkswagen

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F

Ford

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BA

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$238.09

-1.66 (-0.69%)

, LMT

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$302.84

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$238.09

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LMT

Lockheed Martin

$302.84

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Raytheon

$178.19

-1.03 (-0.57%)

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HBM

Hudbay Minerals

$8.50

0.2 (2.41%)

17:44
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HPQ

HP Inc.

$18.86

-0.16 (-0.84%)

17:32
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GES

Guess

$12.48

0.11 (0.89%)

, TLYS

Tilly's

$9.60

0.88 (10.09%)

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TLYS

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WSM

Williams-Sonoma

$43.40

0.55 (1.28%)

PVH

PVH Corp.

$120.04

-0.28 (-0.23%)

YUME

YuMe

$5.15

0.09 (1.78%)

HPQ

HP Inc.

$18.86

-0.16 (-0.84%)

HEI

Heico

$81.11

-0.95 (-1.16%)

GBT

Global Blood Therapeutics

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MATX

Matson

$24.02

0.24 (1.01%)

17:28
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TCMD

Tactile Systems

$33.90

0.78 (2.36%)

17:24
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TCMD

Tactile Systems

$33.90

0.78 (2.36%)

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CIVI

Civitas Solutions

$18.30

-0.1 (-0.54%)

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LLL

L3 Technologies

$179.28

-1.39 (-0.77%)

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BA

Boeing

$238.08

-1.67 (-0.70%)

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RTN

Raytheon

$178.19

-1.03 (-0.57%)

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LMT

Lockheed Martin

$302.84

-1.96 (-0.64%)

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HPQ

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HPQ

HP Inc.

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TDG

TransDigm

$271.82

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ROG

Rogers Corporation

$115.31

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GES

Guess

$12.48

0.11 (0.89%)

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HPQ

HP Inc.

$18.86

-0.16 (-0.84%)

16:56
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ASH

Ashland

$61.60

0.14 (0.23%)

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