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PRGO

Perrigo

09:11
07/17/17
07/17
09:11
07/17/17
09:11

Perrigo confirms patent challenge for generic version of Soolantra cream, 1%

Perrigo announced that its subsidiary has filed a Paragraph IV Abbreviated New Drug Application with the U.S. FDA for a generic version of Soolantra cream, 1%. Following notification from Perrigo, Galderma Laboratories, L.P., Galderma S.A., and Nestle Skin Health S.A., filed a patent litigation suit asserting patents listed in the Orange Book for Soolantra in the United States District Court for the Northern District of Texas on July 13, 2017. This action formally initiates the litigation process under the Hatch-Waxman Act. Soolantra cream, 1% is indicated for the treatment of inflammatory lesions of rosacea. Annual market sales for the 12 months ending May 2017 were $87M.

PRGO Perrigo

06/16/17
CANT
06/16/17
INITIATION
Target $85
CANT
Overweight
Perrigo initiated with an Overweight at Cantor
Cantor Fitzgerald analyst Louise Chen started Perrigo with an Overweight rating and $85 price target.
06/05/17
06/05/17
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. Apple (AAPL) downgraded to Sector Weight from Overweight at Pacific Crest with analyst Andy Hargreaves saying upside from the launch of iPhone 8 is already reflected in the shares. An "extremely strong iPhone 8 cycle" is being priced into the stock while little weight is being given to gross margins, supply issues, or the likelihood for declines beyond the iPhone 8, Hargreaves tells investors in a research note. 2. Perrigo (PRGO) downgraded to Underperform from Sector Perform at RBC Capital with analyst Randall Stanicky saying the growth rate of the company's U.S. consumer business "has structurally re-rated lower" amid pricing headwinds and share losses. 3. Endocyte (ECYT) downgraded to Neutral from Outperform at Wedbush and to Market Perform from Outperform at Cowen. 4. Affiliated Managers (AMG) was downgraded to Neutral from Buy at Citi while Federated Investors (FII) was downgraded to Sell from Neutral. 5. Veeva (VEEV) downgraded to Equal Weight from Overweight at Morgan Stanley with the firm's analyst saying the 60%+ move in shares year-to-date captures much of the near-term upside in the stock. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/05/17
RBCM
06/05/17
DOWNGRADE
RBCM
Underperform
Perrigo downgraded on multiple headwinds at RBC Capital
As noted earlier, RBC Capital downgraded Perrigo to Underperform from Sector Perform. Analyst Randall Stanicky says that the growth rate of the company's U.S. consumer business "has structurally re-rated lower" amid pricing headwinds and share losses. He adds that the pressures facing the company's generic business will intensify, while its EBITDA growth will be "limited" and it will have difficulty meeting its lowered, 2%-4% revenue growth target. Price target to $60 from $66.
06/05/17
RBCM
06/05/17
DOWNGRADE
RBCM
Underperform
Perrigo downgraded to Underperform from Sector Perform at RBC Capital

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EVTCY

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JRVR

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NFLX

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PSX

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VZ

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VLO

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SNDX

Syndax

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IMDZ

Immune Design

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CVS

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TCMD

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AGN

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GRPN

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FANG

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UNFI

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