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IONS

Ionis Pharmaceuticals

$36.38

0.72 (2.02%)

, ALNY

Alnylam

$70.30

1.73 (2.52%)

06:49
10/06/16
10/06
06:49
10/06/16
06:49

Piper thinks Alnylam failure is positive for Ionis

Piper Jaffay analyst Joshua Schimmer thinks Alnylam Pharmaceuticals' (ALNY) "abrupt halt" of revusiran for TTR cardiomyopathy is likely a positive for Ionis Pharmaceuticals' (IONS) transthyretin program. The move "knocks out a competitive drug" while Ionis and GlaxoSmithKline (GSK) remain on their previously indicated timeline, Schimmer tells investors in a research note. The analyst at this point believes Alnylam's setback will be limited to revusiran and not read-through to other Gal-Nac programs or other TTR cardiomyopathy or polyneuropathy programs. He keeps an Overweight rating on Ionis with a $46 price target,

IONS

Ionis Pharmaceuticals

$36.38

0.72 (2.02%)

ALNY

Alnylam

$70.30

1.73 (2.52%)

GSK

GlaxoSmithKline

$43.33

-0.11 (-0.25%)

  • 07

    Oct

  • 14

    Oct

  • 06

    Nov

IONS Ionis Pharmaceuticals
$36.38

0.72 (2.02%)

10/04/16
RBCM
10/04/16
NO CHANGE
Target $375
RBCM
Outperform
Biogen could rise $20 or more per share on SMA success, says RBC Capital
RBC Capital analyst Michael Yee expects the first presentation of data from Biogen's (BIIB) Phase III ENDEAR trial studying nusinersen, an investigational treatment for spinal muscular atrophy, or SMA, this week, potentially during the late breaker session at the WMS Congress on October 8. Biogen and partner Ionis Pharmaceuticals (IONS) already announced in August that the study in Type I infants hit the interim analysis and stopped early for positive data. The much larger opportunity in older children has data expected to read out in Spring 2017, noted Yee, who thinks Biogen can have upside from $10 to over $20 per share based on its SMA opportunity. Yee keeps an Outperform rating and $375 price target on Biogen shares.
10/06/16
BMOC
10/06/16
UPGRADE
BMOC
Outperform
Ionis Pharmaceuticals upgraded to Outperform from Market Perform at BMO Capital
09/28/16
JEFF
09/28/16
NO CHANGE
Target $50
JEFF
Buy
Jefferies parent survey shows interest in AveXis pivotal trial
Jefferies analyst Biren Amin conducted a survey of parents of spinal muscular atrophy patients amid investor questions surrounding AveXis' (AVXS) ability to enroll a pivotal trial with AVXS-101 given the open access program with nusinersen, the investigational drug being developed by Ionis Pharmaceuticals (IONS) and Biogen (BIIB). Parents value the option of nusinersen treatment but are also willing to enroll in clinical trials of AVXS-101, Amin tells investors in a research note, citing his survey of seven parents. A single arm trial of AVXS-101 was the most preferred clinical trial design for the upcoming Phase 3 of AVXS-101, he added. The analyst believes his parent responses suggest excitement over nusinersen but also a willingness to enroll into the AVXS-101 trials, especially if it is a single-arm trial. Parents were also attracted to AVXS-101 intravenous delivery, which could be a "meaningful advantage," Amin contends. The analyst keeps a Buy rating on AveXis with a $50 price target. The stock closed yesterday up 88c to $41.00. Amin caused a rally in AveXis shares on September 19 when writing about finding a video online of a spinal muscular atrophy baby walking that he believed to be a patient in the company's trial of AVXS-101.
09/28/16
JANY
09/28/16
INITIATION
Target $47
JANY
Buy
Ionis Pharmaceuticals initiated with a Buy at Janney Capital
Janney Capital analyst Roy Buchanan initiated Ionis Pharmaceuticals with a Buy and a $47 fair value estimate. Buchanan believes the late stage pipeline, including wholly-owned volanesorsen, and the base technology can add meaningful value to Ionis. 1H 2017 is particularly rich with 3 phase 3 readouts, with potential for another early, interim look at SMA.
ALNY Alnylam
$70.30

1.73 (2.52%)

10/06/16
LEHM
10/06/16
DOWNGRADE
Target $50
LEHM
Equal Weight
Alnylam downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Geoff Meacham downgraded Alnylam Pharmaceuticals (ALNY) to Equal Weight saying he views other SMid cap biotech names as more attractive following the company's recent pipeline setbacks. The analyst removed Revusiran sales from his Alnylam model after the program was discontinued yesterday and he cut his price target for the shares to $50 from $85. Meacham lists Neurocrine (NBIX), Prothena (PTRA) and Incyte (INCY) as names he finds more attractive over the next 12 months. Alnylam is trading down 44% in pre-market trading to $39.25.
10/06/16
JPMS
10/06/16
DOWNGRADE
Target $51
JPMS
Neutral
Alnylam downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Anupam Rama downgraded Alnylam Pharmaceuticals to Neutral after the company said it will discontinue Revusiran for the treatment of Familial Amyloid Cardiomyopathy. The analyst viewed the drug as a "key asset" and cut his price target for the shares to $51 from $83. Barclays this morning also downgraded Alnylam.
10/06/16
PIPR
10/06/16
NO CHANGE
Target $106
PIPR
Overweight
Alnylam selloff a buying opportunity, says Piper Jaffray
Piper Jaffray analyst Edward Tenthoff views today's selloff in shares of Alnylam Pharmaceuticals after the company discontinued its revusiran program as a buying opportunity. The analyst does not believe the discontinuation has read-through to the Phase III APOLLO trial or seven other RNAi drugs that employ ESC-GalNAc technology. He lowered his price target for Alnylam shares to $106 from $118 and keeps an Overweight rating on the name. JPMorgan and Barclays this morning downgraded the shares.
10/06/16
LEER
10/06/16
DOWNGRADE
Target $40
LEER
Market Perform
Alnylam downgraded to Market Perform from Outperform at Leerink
Leerink analyst Michael Schmidt downgraded Alnylam Pharmaceuticals to Market Perform after the company discontinued development of revusiran. To reflect an increased level of uncertainty around the company's pipeline, the analyst cut his price target for the shares to $40 from $107. JPMorgan and Barclays also downgraded Alnylam this morning while Piper Jaffray recommends buying the stock on weakness.
GSK GlaxoSmithKline
$43.33

-0.11 (-0.25%)

09/13/16
EXAN
09/13/16
DOWNGRADE
EXAN
Underperform
GlaxoSmithKline downgraded to Underperform from Neutral at Exane BNP Paribas
10/03/16
RBCM
10/03/16
NO CHANGE
Target $95
RBCM
Outperform
Gilead HIV franchise could see risk from competitor data, says RBC Capital
RBC Capital analyst Michael Yee said his conversations with doctors leads him to think two dolutegravir HIV "doublet" studies being conducted by GlaxoSmithKline (GSK) and ViiV Healthcare - Glaxo's joint venture with Pfizer (PFE) and Shionogi - are likely to work and present an underappreciated risk to Gilead's (GILD) HIV franchise. Talks with investors lead Yee to believe few are even aware of this risk and that the consensus view is underestimating the probability these non-inferiority trials will work. Arguing that the consensus view should factor in more conservative assumptions for Gilead's HIV business post 2018 due to this risk, Yee cut his price target on Gilead to $95 from $105, but keeps an Outperform rating on the shares.
09/23/16
09/23/16
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. Morgan Stanley analyst Brian Nowak initiated Activision Blizzard (ATVI) and Electronic Arts (EA), both with Overweight ratings. The analyst is bullish on the digital gaming shift away from "units sold" to a business model based on users, engagement, and digital monetization. He sees digital in-game offerings resulting in recurring and growth user bases, increased per-game engagement, and further monetization opportunities. 2. AstraZeneca (AZN) and GlaxoSmithKline (GSK) both initiated with Overweight ratings by Piper Jaffray analyst Richard Purkiss. 3. Achillion (ACHN) initiated with an Outperform by Wedbush analyst Heather Behanna, who set a $13 price target on the shares. 4. Sysco (SYY) initiated with an Underweight at Barclays and $48 price target by analyst Karen Short. 5. Five Below (FIVE), Dollar Tree (DLTR) and Dollar General (DG) all initiated with Equal Weight ratings by Barclays analyst Karen Short. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/23/16
PIPR
09/23/16
INITIATION
PIPR
Overweight
GlaxoSmithKline initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Richard Purkiss started GlaxoSmithKline with an Overweight rating and GBP 20 price target. The company's growth is defensive and its risks are declining, Purkiss tells investors in a research note.

TODAY'S FREE FLY STORIES

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TROX

Tronox

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UBNK

United Financial

$17.92

-0.03 (-0.17%)

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UBNK

United Financial

$17.92

-0.03 (-0.17%)

17:59
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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%)

, SPX

S&P 500

17:55
01/23/18
01/23
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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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SPY

SPDR S&P 500 ETF Trust

$283.29

0.6 (0.21%)

SPX

S&P 500

03/08/13
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17:55
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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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  • 25

    Jan

ARAY

Accuray

$5.20

0.05 (0.97%)

, TSS

TSYS

$83.92

0.17 (0.20%)

17:27
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Hot Stocks
On The Fly: After Hours Movers »

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$5.20

0.05 (0.97%)

TSS

TSYS

$83.92

0.17 (0.20%)

CERS

Cerus

$4.33

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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

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QGEN

Qiagen

$33.55

0.5 (1.51%)

SIRI

SiriusXM

$5.68

0.03 (0.53%)

VLO

Valero

$98.69

-0.26 (-0.26%)

UAL

United Continental

$77.97

1.1 (1.43%)

NAVI

Navient

$13.44

-0.08 (-0.59%)

CREE

Cree

$35.02

-1.67 (-4.55%)

COF

Capital One

$105.71

0.22 (0.21%)

TXN

Texas Instruments

$119.89

0.45 (0.38%)

PBYI

Puma Biotechnology

$90.90

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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%)

03/08/13
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    Jan

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 »

Sees FY18 CapEx…

03/08/13
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  • 21

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17:25
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17:25
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
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Initiation
MuleSoft initiated  »

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  • 15

    Feb

MDB

MongoDB

$28.83

0.02 (0.07%)

17:19
01/23/18
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Initiation
MongoDB initiated  »

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UAL

United Continental

$77.97

1.1 (1.43%)

17:19
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17:19
Hot Stocks
Breaking Hot Stocks news story on United Continental »

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  • 23

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UAL

United Continental

$77.97

1.1 (1.43%)

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

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APTI

Apptio

$24.39

0.02 (0.08%)

17:17
01/23/18
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Initiation
Apptio initiated  »

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  • 05

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VMW

VMware

$137.96

1.27 (0.93%)

17:16
01/23/18
01/23
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17:16
Initiation
VMware initiated  »

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UAL

United Continental

$77.97

1.1 (1.43%)

17:13
01/23/18
01/23
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17:13
Hot Stocks
United: Strategic initiatives expected to moderate impact of high PRASM growth »

Says United Premium Pass…

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  • 23

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    Mar

MSFT

Microsoft

$91.90

0.29 (0.32%)

17:13
01/23/18
01/23
17:13
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17:13
Initiation
Microsoft initiated  »

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  • 31

    Jan

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    Feb

GDS

GDS Holdings

$26.75

-0.22 (-0.82%)

17:13
01/23/18
01/23
17:13
01/23/18
17:13
Syndicate
GDS Holdings files to sell 8M American Depositary Shares »

GDS Holdings announced…

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ORCL

Oracle

$51.12

0.41 (0.81%)

17:12
01/23/18
01/23
17:12
01/23/18
17:12
Initiation
Oracle initiated  »

Oracle initiated with a…

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RHT

Red Hat

$128.15

0.14 (0.11%)

17:10
01/23/18
01/23
17:10
01/23/18
17:10
Initiation
Red Hat initiated  »

Red Hat initiated with a…

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  • 23

    Jan

  • 06

    Feb

BA

Boeing

$335.59

-2.41 (-0.71%)

17:10
01/23/18
01/23
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17:10
Hot Stocks
Boeing awarded $150M U.S. Air Force contract »

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  • 31

    Jan

  • 21

    Feb

UCBI

United Community Banks

$31.56

0.34 (1.09%)

17:08
01/23/18
01/23
17:08
01/23/18
17:08
Earnings
United Community Banks reports Q4 operating EPS 42c, consensus 41c »

Reports Q4 revenue…

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  • 24

    Jan

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