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INCY

Incyte

$123.11

-1.43 (-1.15%)

12:46
04/21/17
04/21
12:46
04/21/17
12:46

Incyte call volume above normal and directionally bullish

Bullish option flow detected in Incyte with 1,036 calls trading, 1.7x expected, and implied vol increasing almost 2 points to 45.76%. Jan-19 175 calls and Jun-17 100 calls are the most active options, with total volume in those strikes near 580 contracts. The Put/Call Ratio is 0.48. Earnings are expected on May 4th.

  • 04

    May

INCY Incyte
$123.11

-1.43 (-1.15%)

04/17/17
LEER
04/17/17
NO CHANGE
LEER
Outperform
Leerink sees attractive buying opportunity in Eli Lilly ahead of Q1 results
While noting that Eli Lilly's (LLY) stock is under pressure following the news that baricitinib did not receive FDA approval with the Agency expressing concerns over dosing and safety, Leerink sees an "attractive buying opportunity" ahead of Q1 results given "strong trends" in the company's new product launches, particularly for high-margin Trulicity and Taltz. Further, the firm says that while baricitinib could face a 12-18 month delay in the U.S., it is already approved in EU and is not the biggest valuation driver due to the 18% royalty it pays to partner Incyte (INCY). Leerink has Outperform ratings on Eli Lilly and Incyte's shares.
04/17/17
04/17/17
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. Eli Lilly (LLY) was downgraded to Equal Weight from Overweight at Morgan Stanley and to Underperform from Market Perform at BMO Capital. 2. Incyte (INCY) downgraded to Neutral from Overweight at Piper Jaffray with analyst Joshua Schimmer citing the complete response letter from the FDA for baricitinib, indicating a need to determine appropriate doses. This setback could take years and lead to approval of only the lower dose, leaving potentially little differentiation from Pfizer's (PFE) rheumatoid arthritis treatment Xeljanz," Schimmer tells investors in a research note. The analyst prefers to wait for a "cleaner entry point" into the shares. 3. KKR (KKR) downgraded to Neutral from Buy at Citi with analyst William Katz saying he views the stock's valuation relative to peers as less attractive at current levels. 4. Monster Beverage (MNST) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Judy Hong saying she expects shares to be range-bound near-term due to soft core Monster sales trends in the US. 5. PNC Financial (PNC) downgraded to Hold from Buy at Rafferty Capital with analyst Richard Bove saying bank stock valuations are too high and growth is lacking. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/18/17
FBCO
04/18/17
INITIATION
Target $174
FBCO
Outperform
Incyte assumed with an Outperform at Credit Suisse
Target $174.
04/19/17
FBCO
04/19/17
NO CHANGE
Target $167
FBCO
Outperform
Incyte price target lowered to $167 from $174 at Credit Suisse
Credit Suisse analyst Alethia Young lowered her price target for Incyte to $167 from $174 on Baricitinib's surprise CRL. The analyst moved baricitinib's U.S. launch to 2019 and lowered the probability of success on U.S. revenues to 80%. Young reiterates an Outperform rating on the shares.

TODAY'S FREE FLY STORIES

GS

Goldman Sachs

$242.41

3.88 (1.63%)

07:37
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    Oct

IPXL

Impax

$19.95

-0.85 (-4.09%)

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  • 09

    Nov

TEAR

TearLab

$1.36

-0.06 (-4.23%)

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EGRX

Eagle Pharmaceuticals

$50.55

-1 (-1.94%)

07:35
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  • 30

    Oct

VRX

Valeant

$12.92

-0.47 (-3.51%)

, RIG

Transocean

$11.05

0.19 (1.75%)

07:35
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Options
Unusual call flow in option market yesterday »

Notable call activity was…

VRX

Valeant

$12.92

-0.47 (-3.51%)

RIG

Transocean

$11.05

0.19 (1.75%)

TMUS

T-Mobile

$60.97

-0.42 (-0.68%)

HIMX

Himax

$9.14

-0.19 (-2.04%)

RRC

Range Resources

$19.51

0.07 (0.36%)

RTN

Raytheon

$188.71

0.82 (0.44%)

BKD

Brookdale Senior Living

$10.12

0.02 (0.20%)

OLN

Olin

$35.46

-0.08 (-0.23%)

UPL

Ultra Petroleum

$8.15

0.04 (0.49%)

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    Nov

CP

Canadian Pacific

$168.46

-0.09 (-0.05%)

, CSX

CSX

$52.84

0.01 (0.02%)

07:34
10/17/17
10/17
07:34
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07:34
Recommendations
Canadian Pacific, CSX, Norfolk Southern, Genesee & Wyoming, Canadian National analyst commentary  »

Railroad estimates…

CP

Canadian Pacific

$168.46

-0.09 (-0.05%)

CSX

CSX

$52.84

0.01 (0.02%)

NSC

Norfolk Southern

$129.80

-1.85 (-1.41%)

GWR

Genesee & Wyoming

$71.39

-0.48 (-0.67%)

CNI

Canadian National

$80.23

-0.56 (-0.69%)

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  • 17

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IPXL

Impax

$19.95

-0.85 (-4.09%)

07:34
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Impax, Amneal Pharmaceuticals to merge in all-stock transaction »

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  • 09

    Nov

KBSTY

Kobe Steel

$3.68

0.13 (3.66%)

, GM

General Motors

$45.76

-0.12 (-0.26%)

07:34
10/17/17
10/17
07:34
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Periodicals
U.S. DOJ requests information on Kobe Steel metal scandal, WSJ says »

The U.S. Justice…

KBSTY

Kobe Steel

$3.68

0.13 (3.66%)

GM

General Motors

$45.76

-0.12 (-0.26%)

TM

Toyota

$123.42

0.04 (0.03%)

BA

Boeing

$259.75

-0.99 (-0.38%)

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  • 24

    Oct

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    Oct

PRTA

Prothena

$60.32

-0.43 (-0.71%)

07:33
10/17/17
10/17
07:33
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07:33
Conference/Events
Prothena management to meet with Deutsche Bank »

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  • 17

    Oct

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    Nov

HK

Halcon Resources

$5.90

-0.1 (-1.67%)

07:33
10/17/17
10/17
07:33
10/17/17
07:33
Upgrade
Halcon Resources rating change  »

Halcon Resources upgraded…

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  • 10

    Nov

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    May

ARMK

Aramark

07:33
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10/17
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07:33
Recommendations
Aramark analyst commentary  »

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  • 15

    Nov

MDXG

MiMedx

$13.51

0.31 (2.35%)

07:32
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  • 27

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IPXL

Impax

$19.95

-0.85 (-4.09%)

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Breaking Hot Stocks news story on Impax »

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  • 09

    Nov

JBL

Jabil Circuit

$28.61

0.37 (1.31%)

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EVTCY

Evotec

$51.15

2.3099 (4.73%)

07:31
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Conference/Events
Evotec management to meet with Deutsche Bank »

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  • 17

    Oct

GPRO

GoPro

$9.08

-0.48 (-5.02%)

, CREE

Cree

$29.28

-0.08 (-0.27%)

07:30
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Options
Unusual put flow in option market yesterday »

Notable put activity was…

GPRO

GoPro

$9.08

-0.48 (-5.02%)

CREE

Cree

$29.28

-0.08 (-0.27%)

MT

ArcelorMittal

$28.99

-0.36 (-1.23%)

PXD

Pioneer Natural

$143.69

-0.23 (-0.16%)

BABY

Natus Medical

$39.35

-0.75 (-1.87%)

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  • 17

    Oct

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    Nov

CARB

Carbonite

$22.30

-0.5 (-2.19%)

07:30
10/17/17
10/17
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07:30
Initiation
Carbonite initiated  »

Carbonite initiated with…

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  • 02

    Nov

NEWS

NewStar Financial

$12.13

0.23 (1.93%)

07:30
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Hot Stocks
Breaking Hot Stocks news story on NewStar Financial »

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JRVR

James River Group

$41.95

-0.08 (-0.19%)

07:27
10/17/17
10/17
07:27
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07:27
Initiation
James River Group initiated  »

James River Group…

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  • 02

    Nov

MDB

MongoDB

07:27
10/17/17
10/17
07:27
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07:27
Syndicate
MongoDB IPO deal range increased to $20.00-$22.00 »

MongoDB 's 8M share…

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  • 19

    Oct

NFLX

Netflix

$202.68

3.19 (1.60%)

07:26
10/17/17
10/17
07:26
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07:26
Recommendations
Netflix analyst commentary  »

Netflix price target…

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  • 22

    Oct

PSX

Phillips 66

$90.87

-3.56 (-3.77%)

07:26
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Recommendations
Phillips 66 analyst commentary  »

Phillips 66 price target…

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  • 27

    Oct

VZ

Verizon

$48.09

0.23 (0.48%)

07:25
10/17/17
10/17
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07:25
Periodicals
Verizon FiOS stops carrying Univision, WSJ reports »

Verizon FiOS has stopped…

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  • 19

    Oct

  • 01

    Nov

VLO

Valero

$77.42

-0.66 (-0.85%)

07:25
10/17/17
10/17
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Recommendations
Valero analyst commentary  »

Valero price target…

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  • 26

    Oct

SNDX

Syndax

$12.76

0.39 (3.15%)

07:25
10/17/17
10/17
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07:25
Syndicate
Syndax raises $25M in a registered direct offering »

Syndax announced that it…

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