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INCY

Incyte

$152.66

1.7 (1.13%)

, GILD

Gilead

$68.47

0.7 (1.03%)

14:29
03/16/17
03/16
14:29
03/16/17
14:29

Incyte move off lows attributed to renewed takeover speculation

Shares of Incyte (INCY) have moved off their lows following the recirculation of takeover speculation, according to trading contacts. 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. The Fly notes that on January 4, Gabelli analyst Jing He wrote that Gilead (GILD) is more likely to buy Incyte after naming Alessandro Riva to head its Hematology and Oncology Therapeutic unit. Shares of Incyte, which were as low as $146.98 earlier, are down 2.3% to $149.02 near 2:30 pm ET.

INCY

Incyte

$152.66

1.7 (1.13%)

GILD

Gilead

$68.47

0.7 (1.03%)

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INCY Incyte
$152.66

1.7 (1.13%)

03/13/17
FBCO
03/13/17
NO CHANGE
Target $174
FBCO
Outperform
Incyte price target raised to $174 from $136 at Credit Suisse
Credit Suisse analyst Kennen MacKay raised his price target for Incyte (INCY) to $174 upon shifting to an M&A discounted cash flow net present value methodology. Incyte rallied late in the day on Friday amid speculation of a takeover by Gilead Sciences (GILD). Incyte could provide an attractive entry into immuno-oncology for an acquirer, MacKay tells investors in a research note. The company's epacadostat could be a "scarce immuno-oncology backbone blockbuster," the analyst contends. He anticipates "significant interest" in Incyte for this reason. MacKay keeps an Outperform rating on the shares.
03/08/17
UBSW
03/08/17
INITIATION
Target $140
UBSW
Neutral
Incyte initiated with a Neutral at UBS
UBS analyst Carter Gould initiated Incyte with a Neutral and a $140 price target.
03/01/17
NOMU
03/01/17
INITIATION
Target $148
NOMU
Buy
Incyte initiated with a Buy at Nomura
Nomura initiated Incyte with a Buy and a $148 price target.
01/31/17
RHCO
01/31/17
NO CHANGE
RHCO
Incyte price target raised to $140 from $115 at SunTrust
SunTrust analyst Peter Lawson raised his price target on Incyte (INCY), citing "increased pipeline & technology value" as data releases and PDUFA dates approach. Additionally, the analyst is upbeat on the company's global collaboration deal with Calithera (CALA), saying that the deal expands Incyte's "reach into the (immuno-oncology) space." The analyst reiterates a Buy rating on Incyte.
GILD Gilead
$68.47

0.7 (1.03%)

03/09/17
UBSW
03/09/17
DOWNGRADE
Target $72
UBSW
Neutral
Gilead transferred with a Neutral from Buy at UBS
UBS downgraded Gilead Sciences to Neutral after transferring coverage to Carter Gould. The company's hepatitis C sales have declined steadily since 2015 on decreased patient volume and pricing pressure, Gould told investors last night in a research note. The analyst believes Gilead's HCV sales need to stabilize before the stock moves higher. He cut his firm's price target for the shares to $72 from $118.
03/06/17
FBCO
03/06/17
NO CHANGE
FBCO
Near-Term acquisition of Bristol-Myers unlikely, says Credit Suisse
Credit Suisse analyst Vamil Divan says there is increasing investor focus on strategic actions and opportunities around Bristol-Myers (BMY) following the company's recent stumbles and the increased stake activist investors have taken in the stock. The analyst notes that "the big question" remains whether any of its peers may be interested in an outright acquisition, with Pfizer (PFE), Novartis (NVS) and Gilead (GILD) among the possible acquirers. While the numbers may make sense, Divan sees an acquisition in the next 9-12 months as unlikely as he needs more clarity on some of the large unknowns in the lung cancer market and macro issues such as corporate tax reform.
02/24/17
LEER
02/24/17
NO CHANGE
LEER
Merck write-down suggests 'rest of Idenix' is now 'very small,' says Leerink
Leerink analyst Geoffrey Porges notes that Merck (MRK) announced that it is taking a $2.9B impairment charge against the value of uprifosbuvir, or MK3682, which is the most important of the Hepatitis C nucleotide polymerase inhibitors it acquired from Idenix. The analyst believes this write-down suggests that the remaining value of the "rest of Idenix" is now very small. In addition to the delay for Merck's triple regimen, this impairment has "significant competitive implications" for Gilead (GILD) and AbbVie (ABBV), which are the most likely remaining participants in the HCV market, he adds.

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PAA

Plains All American

$27.86

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13:35
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Plains All American put volume heavy and directionally bearish »

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MSFT

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$68.68

0.23 (0.34%)

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$19.02

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$68.68

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TSLA

Tesla

$303.86

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GOOG

Alphabet

$948.82

6.96 (0.74%)

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Alphabet Class A

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$948.82

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OAS

Oasis Petroleum

$11.13

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MSFT

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$NSD

NASDAQ Market Internals

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$NYE

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FCAU

Fiat Chrysler

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Options
Fiat Chrysler put volume heavy and directionally bearish »

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DYNT

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ANF

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American Eagle

EXPR

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ANF

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EXPR

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ANF

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