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ESPR

Esperion

$41.22

17.55 (74.14%)

, CALA

Calithera Biosciences

$12.35

-0.05 (-0.40%)

17:33
03/20/17
03/20
17:33
03/20/17
17:33

On The Fly: After Hours Movers

HIGHER: Esperion (ESPR), up 1.3% following a 74% increase in shares in the regular session after JMP Securities raised its price target on the stock to $60 from $41. LOWER: Calithera Biosciences (CALA), down 6.9% after it filed to sell 4.5M shares of common stock... Ocular Therapeutix (OCUL), down 4.3% after chief financial officer W. Bradford Smith notified the company of his resignation... La Jolla (LJPC), down 3.7% after he filed to sell $100M of common stock... Merit Medical (MMSI), down 3% after it filed to sell $125M in common stock... Golub Capital (GBDC), down 2.5% after it filed to sell 1.75M shares of common stock... Genesis Energy (GEL), down 1.9% after it filed to sell 4M common units for limited partners.

ESPR

Esperion

$41.22

17.55 (74.14%)

CALA

Calithera Biosciences

$12.35

-0.05 (-0.40%)

OCUL

Ocular Therapeutix

$9.87

0.37 (3.89%)

LJPC

La Jolla

$38.44

2.56 (7.13%)

MMSI

Merit Medical

$31.55

0.2 (0.64%)

GBDC

Golub Capital

$19.42

0.02 (0.10%)

GEL

Genesis Energy

$31.60

-0.88 (-2.71%)

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ESPR Esperion
$41.22

17.55 (74.14%)

03/20/17
FBCO
03/20/17
UPGRADE
FBCO
Neutral
Esperion upgraded to Neutral from Underperform at Credit Suisse
03/20/17
SBSH
03/20/17
NO CHANGE
Target $39
SBSH
Buy
Esperion likely needs to raise cash before FDA approval, says Citi
Following the company's conference call last night, Citi analyst Joel Beatty continues to believe Esperion Therapeutics' bempedoic acid could be approved by FDA based on LDL lowering as a surrogate endpoint. The company will likely need to raise capital before a potential FDA approval, however, Beatty tells investors in a research note. Further, the FDA is unlikely to provide clarity on LDL as a surrogate ahead of a filing in early 2019, the analyst adds. He keeps a Buy rating on Esperion with a $39 price target. The stock in early trading is up 55%, or $13.03, to $36.70.
03/20/17
JPMS
03/20/17
NO CHANGE
JPMS
Neutral
Esperion LDL-C lowering endpoint news a clear positive, says JPMorgan
After Esperion (ESPR) announced that the FDA confirmed that the bempedoic acid phase 3 program is adequate to support approval of an LDL-C lowering indication prior to outcomes data, JPMorgan analyst Jessica Fye said some expectation for this type of update "started to come into the stock" after Amgen's (AMGN) release of the FOURIER trial top-line results on last Friday. Still, the news is a clear positive for Esperion as it lifts one of the largest overhangs on the stock over the past 18 months. Fye, who now sees the potential for approval of bempedoic acid in 2020, keeps a Neutral rating on Esperion shares.
03/20/17
JMPS
03/20/17
NO CHANGE
Target $60
JMPS
Outperform
Esperion price target raised to $60 from $41 at JMP Securities
JMP Securities analyst Jason Butler raised his price target on Esperion Therapeutics to $60 from $41 after the FDA confirmed that the company can pursue approval for bempedoic acid for an LDL-C lowering indication, which he believes supports NDA submission in 1H19 and a potential launch in 2020 and addresses a key investor concern. The analyst, who moved up his launch assumption and increased the probability of success for the drug to 75% from 67%, keeps an Outperform rating on Esperion shares.
CALA Calithera Biosciences
$12.35

-0.05 (-0.40%)

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.
01/24/17
01/24/17
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. Tableau (DATA) upgraded to Buy from Neutral at Citi with analyst Walter Pritchard saying consensus estimates for fiscal 2017 look low. Revenue transition impacted numbers more than the Street realized in 2016, Pritchard tells investors in a research note. The analyst raised his price target for the shares to $64 from $50. 2. Agrium (AGU) upgraded to Outperform from Market Perform at Cowen, while CF Industries (CF), Mosaic (MOS), and Potash (POT) were upgraded to Market Perform from Underperform. 3. Calithera Biosciences (CALA) upgraded to Neutral from Sell at Citi with analyst Robyn Karnauskas citing her conversation with management. Management now appears more open to partnering, Karnauskas tells investors in a research note. 4. Home Bancshares (HOMB) upgraded to Buy from Hold at Sandler O'Neill. 5. Amicus (FOLD) upgraded to Outperform from Neutral at Baird with analyst Michael Ulz saying the company removed two overhangs by providing regulatory clarity for Galafold in the U.S. as well as a strengthening its balance sheet. Ulz raised his price target to $10 from $7 on Amicus shares. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/24/17
SBSH
01/24/17
UPGRADE
Target $5
SBSH
Neutral
Calithera Biosciences upgraded to Neutral from Sell at Citi
Citi analyst Robyn Karnauskas upgraded Calithera Biosciences to Neutral after speaking with management and raised her price target for the shares to $5 from $1. Management now appears more open to partnering, Karnauskas tells investors in a research note.
01/05/17
HCWC
01/05/17
INITIATION
HCWC
Buy
Calithera Biosciences initiated with a Buy at H.C. Wainwright
H.C. Wainwright analyst Shauak Deepak initiated Calithera Biosciences with a Buy rating.
OCUL Ocular Therapeutix
$9.87

0.37 (3.89%)

02/09/17
CANT
02/09/17
INITIATION
Target $35
CANT
Overweight
Ocular Therapeutix initiated with an Overweight at Cantor
Cantor initiated Ocular Therapeutix with an Overweight and a $35 price target.
02/10/17
02/10/17
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. Symantec (SYMC) reinstated with an Equal Weight at Barclays. 2. Discovery (DISCA) and AMC Networks (AMCX) were initiated with a Hold at Deutsche Bank. 3. Ocular Therapeutix (OCUL) initiated with an Overweight at Cantor. 4. MarineMax (HZO) initiated with a Buy at Citi. 5. Williams Partners (WPZ) was initiated with a Buy at Deutsche Bank, while Williams (WMB) was initiated with a Hold. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
01/20/17
BTIG
01/20/17
NO CHANGE
Target $13
BTIG
Buy
Ocular Therapeutix price target lowered to $13 from $18 at BTIG
BTIG analyst Dane Leone took over coverage of Ocular Therapeutix with a Buy rating and $13 price target, down from the prior $18 target of analyst Ling Wang, stating that missed study endpoints have significantly reduced investor forecasts and valuation over the past 18 months. That said, Leone believes expectations and valuation have now been sufficiently reset to provide upside.
10/13/16
BTIG
10/13/16
NO CHANGE
Target $18
BTIG
Buy
Ocular deal with Regeneron has favorable terms, says BTIG
BTIG analyst Ling Wang believes Ocular Therapeutix's (OCUL) strategic collaboration with Regeneron (REGN) comes with favorable deal terms. The back-end loaded structure brings the potential for large upside, Wang tells investors in a research note. In addition, the partnership provides external validation for Ocular's platform technology, Wang adds. The analyst reiterates a Buy rating on the shares with an $18 price target
LJPC La Jolla
$38.44

2.56 (7.13%)

03/10/17
CHDN
03/10/17
NO CHANGE
Target $90
CHDN
Buy
Chardan has increased confidence in Top Pick La Jolla
Chardan said it has increased confidence in Top Pick La Jolla Pharmaceutica following meetings wit CEO, George F. Tidmarsh, MD, PhD, while the company was on a roadshow to meet with investors and analysts. The firm's analyst came away from the meeting more positive on the company's de-risked strategy towards drug development, and believes the potential of the strategy is supported by the recent success of LJPC-501 in catecholamine resistant hypotension in its pivotal phase III study, ATHOS-3.
02/28/17
RHCO
02/28/17
NO CHANGE
RHCO
La Jolla data positive, says SunTrust
SunTrust analyst Yatin Suneja believes that data on La Jolia's LJPC-501 was "highly favorable," supports its approval and suggests that it could become the standard of care in last-line CRH. The analyst thinks that the drug represents an opportunity of at least $500M, and he raised his price target on the name to $57 from $38 while keeping a Buy rating.
02/27/17
COWN
02/27/17
NO CHANGE
Target $55
COWN
Outperform
La Jolla price target raised to $55 from $40 at Cowen
Cowen analyst Phil Nadeau raised La Jolla's price target to $55 from $40 following compelling LJPC-501 data in its SPA-supported Phase III ATHOS-3 trial. The analyst believes the data de-risks LJPC-501 and expects the company to file for FDA approval in 2H 2017. Nadeau has a Buy rating on La Jolla shares.
02/27/17
JEFF
02/27/17
NO CHANGE
Target $40
JEFF
Buy
La Jolla price target raised to $40 from $27 at Jefferies
Jefferies analyst Eun Yang raised her price target for La Jolla Pharmaceutical to $40 after the company announced positive top-line results from the Phase 3 study of LJPC-501 in patients with catecholamine resistant hypotension. The stock in afternoon trading is up 82%, or $16.36, to $36.23. While a positive outcome was largely expected, a trend toward mortality benefit is encouraging and unexpected, Yang tells investors in a research note, citing her discussions with experts. Her new price target reflects 100% probability for LJPC-501 clinical success and pricing at parity to other hospital-based drugs. Yang keeps a Buy rating on La Jolla.
MMSI Merit Medical
$31.55

0.2 (0.64%)

10/24/16
ADAM
10/24/16
NO CHANGE
Target $29
ADAM
Buy
Merit Medical weakness a buying opportunity, says Canaccord
Canaccord analyst Jason Mills noted Merit Medical announced a DOJ investigation, which will probably lead to weakness in its shares. The analyst said the type of investigation is becoming more commonplace in the med-tech industry and more often than not leads to a an opportunity for investors to make money. Mills would be an opportunistic buyer of the shares and believes the company is set to report another solid quarter. Mills reiterated his Buy rating and $29 price target on Merit Medical shares.
07/28/16
BRRR
07/28/16
DOWNGRADE
BRRR
Market Perform
Merit Medical downgraded to Market Perform at Barrington
As previously reported, Barrington analyst Michael Petusky downgraded Merit Medical to Market Perform from Outperform, citing his view that near-term price appreciation will be limited following the stock's 50% rally from its February lows.
07/28/16
BRRR
07/28/16
DOWNGRADE
BRRR
Market Perform
Merit Medical downgraded to Market Perform from Outperform at Barrington
02/22/17
ADAM
02/22/17
NO CHANGE
Target $35
ADAM
Buy
Merit Medical price target raised to $35 from $29 at Canaccord
Canaccord analyst Jason Mills raised his price target to $35 from $29 on Merit Medical shares following Q4 results. The analyst cited outstanding guidance, impressive gross margins, controlled operating expenses, and a continual shift toward higher gross margin products. Mills reiterated his Buy rating on Merit Medical shares.
GBDC Golub Capital
$19.42

0.02 (0.10%)

09/20/16
JANY
09/20/16
INITIATION
Target $18
JANY
Neutral
Golub Capital initiated with a Neutral at Janney Capital
Janney Capital analyst Mitchel Penn initiated Golub Capital with a Neutral rating and $18 fair value estimate.
11/02/16
NSCC
11/02/16
INITIATION
Target $18
NSCC
Neutral
Golub Capital initiated with a Neutral at National Securities
National Securities analyst Christopher Testa initiated Golub Capital with a Neutral and an $18 price target citing fair valuation.
02/10/17
RAJA
02/10/17
DOWNGRADE
RAJA
Market Perform
Golub Capital downgraded to Market Perform from Outperform at Raymond James
02/10/17
02/10/17
DOWNGRADE

Market Perform
Golub Capital downgraded to Market Perform on valuation at Raymond James
As previously reported, Raymond James downgraded Golub Capital to Market Perform from Outperform. Analyst Robert Dodd said shares are fully valued despite underwriting standards are at the leading edge of the group and capital risk to NAV is low.
GEL Genesis Energy
$31.60

-0.88 (-2.71%)

02/17/17
SOCO
02/17/17
DOWNGRADE
Target $39
SOCO
Equalweight
Genesis Energy downgraded to Equalweight from Overweight at Capital One
Capital One analyst Charles Marshall downgraded Genesis Energy LP to Equalweight and lowered his price target for the shares to $39 from $40.
02/17/17
RBCM
02/17/17
DOWNGRADE
RBCM
Sector Perform
Genesis Energy downgraded on weak cash flow, lack of catalysts at RBC Capital
As noted earlier, RBC Capital downgraded Genesis Energy to Sector Perform from Outperform. Analyst TJ Schultz says that the company's cash flow from new projects is increasing more slowly than expected, while it has no new growth projects poised to launch in the near-term. Target to $38 from $39.
02/17/17
RBCM
02/17/17
DOWNGRADE
RBCM
Sector Perform
Genesis Energy downgraded to Sector Perform from Outperform at RBC Capital
01/11/17
WELS
01/11/17
DOWNGRADE
WELS
Market Perform
Genesis Energy downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Michael Blum downgraded Genesis Energy to Market Perform citing valuation. The analyst lowered his price target range for the shares to $36-$39 from $38-$41.

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LOXO

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ADRO

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ELGX

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$4.73

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TSRO

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$149.11

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CPA

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CAH

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$73.10

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BPMX

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$0.64

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UNH

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VEC

Vectrus

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IMMY

Imprimis

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IRCP

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