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LLY

Eli Lilly

$81.11

0.11 (0.14%)

, MRK

Merck

$62.46

-0.06 (-0.10%)

08:09
10/05/16
10/05
08:09
10/05/16
08:09

Eli Lilly to present on its clinical cancer portfolio at ESMO Congress

Eli Lilly (LLY) will present data from several studies of its clinical cancer portfolio during the European Society of Medical Oncology's 2016 Congress. Presentations include new data on abemaciclib, a CDK 4 and CDK 6 inhibitor, and olaratumab, a PDGFRalpha blocking antibody that recently received a positive CHMP opinion, as well as data on: pemetrexed, a multi-targeted antifolate; ramucirumab, a VEGF Receptor 2 antagonist; necitumumab, an EGFR blocking antibody; and prexasertib, a cell cycle checkpoint kinases 1 and 2 inhibitor. The presentations on pemetrexed, ramucirumab and necitumumab include data from a few of Lilly's immuno-oncology clinical collaborations with Merck (MRK) in trials that are evaluating these molecules in combination with Merck's pembrolizumab. The first results from KEYNOTE-021G - which studied pembrolizumab in combination with pemetrexed-plus-carboplatin compared to pemetrexed-plus-carboplatin alone for the first-line treatment of patients with advanced nonsquamous non-small cell lung cancer regardless of PD-L1 expression - will be featured in the Presidential Symposium on October 9.

LLY

Eli Lilly

$81.11

0.11 (0.14%)

MRK

Merck

$62.46

-0.06 (-0.10%)

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LLY Eli Lilly
$81.11

0.11 (0.14%)

09/21/16
JANY
09/21/16
DOWNGRADE
Target $36
JANY
Neutral
Janney downgrades Clovis with buyout speculation at 'fever pitch'
Janney Capital analyst Roy Buchanan downgraded Clovis Oncology (CLVS) to Neutral from Buy with an increased fair value estimate of $36. Clovis is up 17c to $35.00 in late morning trading. In a research note partially titled, "May Be Right, May Be Crazy - M&A Speculation At Fever Pitch," Buchanan says there is a "finite chance" that Clovis will need to market its PARP inhibitor rucaparib by itself. He believes a late-2016 approval for rucaparib is likely. The analyst attributes his increased fair value estimate to "acquisition optionality." Reports of Takeda's (TKPYY) reserving up to $15B for acquisitions and Medivation's (MDVN) takeout have given Clovis shares a lift, Buchanan tells investors. The analyst adds that rumors surfaced yesterday of potential interest in the company from Eli Lilly (LLY).
09/27/16
GSCO
09/27/16
UPGRADE
Target $95
GSCO
Buy
Eli Lilly upgraded to Buy from Neutral at Goldman
Goldman analyst Jami Rubin upgraded Eli Lilly to Buy and increased its price target to $95 from $89 saying the company is entering a long lasting period of accelerating topline and earnings growth driven by its late stage pipeline. Rubin projects $12.5B of new product sales by 2020 and double digit earnings growth over the next five years, even without Sola. The analyst sees a 35%, up from 25%, probability of success for Sola with a bull case scenario that can lead to almost $7.5B in peak sales and "super charge" earnings. Even without Sola, Rubin sees favorable risk/reward given durability of earnings and said it is the least exposed to above-CPI price increases.
09/27/16
09/27/16
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. Eli Lilly (LLY) upgraded to Buy from Neutral at Goldman with analyst Jami Rubin saying the company is entering a long lasting period of accelerating topline and earnings growth driven by its late stage pipeline. 2. AutoZone (AZO) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Simeon Gutman saying the company is at a positive inflection in 7 year and older vehicles, which is strongly correlated to same-store-sales. 3. Consolidated Edison (ED) upgraded to Hold from Sell at Evercore ISI with analyst Greg Gordon saying the joint settlement proposal filed in the CECONY rate case mitigates downside risk. 4. Crown Holdings (CCK) upgraded on multiple catalysts at BMO Capital with analyst Mark Wilde citing valuation, his belief that the company will resume returning cash to shareholders in 2017, and his belief that the company's results should be boosted by " a wave of domestic and offshore expansion projects." 5. Francesca's (FRAN) upgraded to Buy from Hold at Stifel with analyst Richard Jaffe saying the company's "appealing merchandise" makes it very likely that its sales will grow going forward. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/28/16
BERN
09/28/16
NO CHANGE
BERN
Biogen likely to benefit from Lilly Alzheimer's drug results, says Bernstein
Bernstein analyst Aaron Gal says that the results of a trial of Eli Lilly's (LLY) Alzheimer's drug, solanezumab, due out in late 2016 or early 2017, are likely to impact perceptions of Biogen's (BIIB) Alzheimer's drug, aducanumab. The analyst expects Lilly's solanezumab "to show at least directional evidence" of cognitive improvement, although he is "less convinced" that the impact will be clearly statistically significant. The best results from Biogen's perspective will be if Lilly's drug shows "marginal success," according to Gal. However, statistically significant results are also good for Biogen, as they will show that reducing amyloid beta does mitigate Alzheimer's symptoms, the analyst stated. And if Lilly's drug completely fails, Biogen's drug "could well succeed," given the significant differences between them, wrote Gal,who gives Biogen's aducanumab a 65% chance of success. He keeps a $345 price target and Outperform rating on Biogen.
MRK Merck
$62.46

-0.06 (-0.10%)

08/19/16
UBSW
08/19/16
NO CHANGE
Target $70
UBSW
Buy
Merck price target raised to $70 from $62 at UBS
UBS analyst Marc Goodman raised his price target on Merck (MRK) to $70 from $62 as he updated his model to account for a more favorable Keytruda opportunity following the failed CheckMate-026 trial at Bristol-Myers (BMY). The analyst also feels investors do not give enough credit to Merck's Januvia franchise or the potential for growth opportunity from the pipeline. Goodman reiterated his Buy rating on Merck shares.
09/21/16
FBCO
09/21/16
UPGRADE
Target $41
FBCO
Outperform
Clovis upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse analyst Kennen MacKay upgraded Clovis Oncology (CLVS) to Outperform and raised his price target for the shares to $41 from $19. Clovis closed yesterday up 13%, or $3.92, to $34.83. The potential for a takeover "outweighs concerns surrounding patent life, limited experience in platinum resistant/refractory patients, and PARPi competition," MacKay tells investors in a research note. Clovis could be worth $35-$41 per share in a buyout on operational synergies, and $52-$55 per share with leveraged tax benefits, MacKay estimates. He points out that Eli Lilly (Lill)y, Merck (MRK), Japan's Takeda and others have expressed interest in acquiring U.S. oncology companies.
09/27/16
PIPR
09/27/16
NO CHANGE
Target $62
PIPR
Neutral
Bristol-Myers price target lowered to $62 from $65 at Piper Jaffray
Piper Jaffray analyst Richard Purkiss lowered his price target for Bristol-Myers Squibb (BMY) to $62 saying he sees the company ceding Opdivo's early-mover advantage in lung cancer to competitors. The analyst expects to see details from Roche's (RHHBY) positive OAK trial of Tecentriq vs. docetaxel in non-small cell lung cancer at the upcoming ESMO meeting. Purkiss also expects to see details from Merck's (MRK) positive KEYNOTE-024 trial of Keytruda. The analyst lowered his post-2016 Opdivo forecasts and reiterates a Neutral rating on Bristol shares.
10/03/16
LEER
10/03/16
NO CHANGE
LEER
Market Perform
AASLD abstracts hint at potential competitive threat to Gilead HCV, says Leerink
Leerink analyst Geoffrey Porges says abstracts for the American Association for the Study of Liver Diseases, or AASLD, meeting revealed very limited efficacy information about the new Hepatitis C regimens for Gilead (GILD), Merck (MRK) and AbbVie (ABBV). Nonetheless, the analyst believes the abstracts hint at the potential competitive threat to Gilead's HCV dominance. While the new 12-week HCV regimens may compete on price, the forthcoming 8-week regimens put the most pressure on Gilead's market share, Porges argues. He reiterates a Market Perform rating on Gilead's shares.

TODAY'S FREE FLY STORIES

NVS

Novartis

$87.21

0.21 (0.24%)

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Comcast

$42.44

-0.45 (-1.05%)

20:25
01/23/18
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20:25
Earnings
Notable companies reporting before tomorrow's open »

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NVS

Novartis

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CMCSA

Comcast

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GE

General Electric

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UTX

United Technologies

$136.03

0.82 (0.61%)

ABT

Abbott

$59.23

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GD

General Dynamics

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ITW

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NSC

Norfolk Southern

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BHGE

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PGR

Progressive

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RCL

Royal Caribbean

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SWK

Stanley Black & Decker

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ROK

Rockwell Automation

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NTRS

Northern Trust

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GWW

Grainger

$229.45

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CERS

Cerus

$4.33

0.14 (3.34%)

19:39
01/23/18
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19:39
Conference/Events
Cerus to hold a pharmaceutical update conference call »

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XPER

Xperi

$22.85

0.35 (1.56%)

19:26
01/23/18
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19:26
Conference/Events
Xperi to hold a conference call »

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MDR

McDermott

$7.86

-0.1 (-1.26%)

19:14
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19:14
Upgrade
McDermott rating change at KeyBanc »

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BDRBF

Bombardier

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Embraer

$24.13

-0.34 (-1.39%)

19:08
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19:08
Periodicals
Bombardier invokes Embraer in Boeing trade dispute, Globe and Mail says »

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BDRBF

Bombardier

ERJ

Embraer

$24.13

-0.34 (-1.39%)

BA

Boeing

$335.59

-2.41 (-0.71%)

DAL

Delta Air Lines

$59.93

-0.2 (-0.33%)

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GSBC

Great Southern Bancorp

$52.00

0.45 (0.87%)

19:01
01/23/18
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19:01
Earnings
Great Southern Bancorp reports preliminary Q4 EPS 86c, consnesus 83c »

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UUUU

Energy Fuels

$1.72

0.035 (2.08%)

18:48
01/23/18
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18:48
Hot Stocks
Energy Fuels names Mark S. Chalmers president and CEO »

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18:15
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18:15
General news
Breaking General news story  »

Chicago Federal Reserve…

RBS

RBS

$8.46

-0.02 (-0.24%)

18:10
01/23/18
01/23
18:10
01/23/18
18:10
Periodicals
RBS plans to leave London headquarters by end of 2019, Reuters reports »

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TROX

Tronox

$21.88

0.07 (0.32%)

18:09
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Hot Stocks
Tronox files lawsuit to prevent FTC from blocking proposed Cristal acquisition »

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UBNK

United Financial

$17.92

-0.03 (-0.17%)

18:00
01/23/18
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18:00
Hot Stocks
United Financial reports Q4 provision for loan losses $2.3M »

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UBNK

United Financial

$17.92

-0.03 (-0.17%)

17:59
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17:59
Earnings
United Financial reports Q4 EPS with items 19c, consensus 30c »

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SPY

SPDR S&P 500 ETF Trust

$283.29

0.6 (0.21%)

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S&P 500

17:55
01/23/18
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17:55
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17:55
General news
Breaking General news story on SPDR S&P 500 ETF Trust, S&P 500 »

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SPDR S&P 500 ETF Trust

$283.29

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Conference/Events
Federal Reserve Bank of Chicago President participates in a discussion »

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HESM

Hess Midstream Partners

$21.75

0.45 (2.11%)

17:46
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Hot Stocks
Hess Midstream Partners raises quarterly dividend 3.6% to 32.2c per unit »

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GWB

Great Western

$44.29

0.53 (1.21%)

17:33
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Hot Stocks
Great Western announces financial impact resulting from Tax Cuts and Jobs Act »

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ARAY

Accuray

$5.20

0.05 (0.97%)

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TSYS

$83.92

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On The Fly: After Hours Movers »

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TSYS

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CERS

Cerus

$4.33

0.14 (3.34%)

NTIP

Network-1 Technologies

$2.60

0.1 (4.00%)

GOOG

Alphabet

$1,169.97

14.16 (1.23%)

GOOGL

Alphabet Class A

$1,176.17

12.01 (1.03%)

QGEN

Qiagen

$33.55

0.5 (1.51%)

SIRI

SiriusXM

$5.68

0.03 (0.53%)

VLO

Valero

$98.69

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UAL

United Continental

$77.97

1.1 (1.43%)

NAVI

Navient

$13.44

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CREE

Cree

$35.02

-1.67 (-4.55%)

COF

Capital One

$105.71

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TXN

Texas Instruments

$119.89

0.45 (0.38%)

PBYI

Puma Biotechnology

$90.90

-3.05 (-3.25%)

SIGM

Sigma Designs

$7.00

0.025 (0.36%)

FPRX

Five Prime

$22.43

0.14 (0.63%)

RCKT

Rocket Pharmaceuticals

$15.19

1.92 (14.47%)

TK

Teekay Corp.

$10.74

0.05 (0.47%)

SBBP

Strongbridge Biopharma

$8.70

0.25 (2.96%)

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UAL

United Continental

$77.97

1.11 (1.44%)

17:25
01/23/18
01/23
17:25
01/23/18
17:25
Earnings
United Continental sees FY18 EPS $6.50-$8.50, consensus $6.97 »

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17:25
01/23/18
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17:25
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Conference/Events
The Chicago Council on Global Affairs to hold a panel discussion »

The Chicago Council on…

MULE

MuleSoft

$25.08

-0.31 (-1.22%)

17:21
01/23/18
01/23
17:21
01/23/18
17:21
Initiation
MuleSoft initiated at Nomura Instinet »

MuleSoft initiated with a…

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MDB

MongoDB

$28.83

0.02 (0.07%)

17:19
01/23/18
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17:19
Initiation
MongoDB initiated at Nomura Instinet »

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UAL

United Continental

$77.97

1.1 (1.43%)

17:19
01/23/18
01/23
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01/23/18
17:19
Hot Stocks
Breaking Hot Stocks news story on United Continental »

United sees FY19 and FY20…

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UAL

United Continental

$77.97

1.1 (1.43%)

17:18
01/23/18
01/23
17:18
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17:18
Hot Stocks
Breaking Hot Stocks news story on United Continental »

United sees FY18 CASM…

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APTI

Apptio

$24.39

0.02 (0.08%)

17:17
01/23/18
01/23
17:17
01/23/18
17:17
Initiation
Apptio initiated at Nomura Instinet »

Apptio initiated with a…

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  • 05

    Feb

VMW

VMware

$137.96

1.27 (0.93%)

17:16
01/23/18
01/23
17:16
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17:16
Initiation
VMware initiated at Nomura Instinet »

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