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Fly News Breaks for December 2, 2016
AZN, JNJ, LLY
Dec 2, 2016 | 15:00 EDT
Goldman Sachs analyst Jami Rubin said his estimate, and the current consensus estimate, for Jardiance sales assumed that Eli Lilly (LLY) would get a new indication for Jardiance to reduce the risk of cardiovascular death in type 2 diabetes patients, but he still views the news as positive for sentiment given some investor nervousness and the recent solanezumab disappointment. The indication differentiates Jardiance from Johnson & Johnson's (JNJ) Invokana and AstraZeneca's (AZN) Farxiga, adds Rubin, who has a Buy rating and $82 price target on Lilly shares.
News For LLY;JNJ;AZN From the Last 2 Days
JNJ
Mar 26, 2024 | 16:25 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
LLY
Mar 26, 2024 | 07:08 EDT
JPMorgan estimates Amgen (AMGN) without its obesity pipeline is worth $240-$250 per share and that the market is assigning $30-$40 per share of value to Maritide. While the competitive bar for Maritide is high and moving higher based on Novo Nordisk's (NVO) recent pipeline updates, the obesity market is also "unprecedented in terms of size," the analyst tells investors in a research note. The firm estimates peak sales for Maritide of $6B, equating to mid-single-digit share within the incretin space. JPMorgan believes this supports a value roughly in-line with what is reflected in Amgen's current share price. It sees a positive risk/reward scenario given the recent pullback but maintains a Neutral rating on the name with a $290 price target. The firm says Amgen is viewed as the best positioned name beyond Eli Lilly (LLY) and Novo to have a role in the obesity space.