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CERU

Cerulean

$0.68

-0.0168 (-2.41%)

, NVS

Novartis

$76.31

0.73 (0.97%)

08:08
10/19/16
10/19
08:08
10/19/16
08:08

Cerulean announces strategic collaboration with Novartis

Cerulean Pharma (CERU) announced that the company has entered into a strategic collaboration with Novartis (NVS) to develop NDC product candidates combining Cerulean's proprietary Dynamic Tumor Targeting technology with Novartis' proprietary compounds directed at up to five targets. Cerulean will create NDC candidates, and Novartis is responsible for further development and commercialization of NDC products resulting from the collaboration. Under terms of the agreement, Cerulean will receive an upfront payment of $5M plus funding for five full-time equivalents. Cerulean is also eligible to receive preclinical, clinical, regulatory, and sales milestones for each target. In addition, following regulatory approval of NDC products, Cerulean can earn single-digit to low double-digit tiered royalties on net sales for each NDC product.

CERU

Cerulean

$0.68

-0.0168 (-2.41%)

NVS

Novartis

$76.31

0.73 (0.97%)

  • 11

    Nov

CERU Cerulean
$0.68

-0.0168 (-2.41%)

08/18/16
JMPS
08/18/16
DOWNGRADE
JMPS
Market Perform
Cerulean downgraded to Market Perform from Outperform at JMP Securities
JMP Securities analyst Michael King downgraded Cerulean after the company announced negative top-line results from a study of its CRLX101 drug in patients with advanced renal cell carcinoma. Noting that the study indicated that there was no difference between the results of patients taking CRLX101 and those taking the standard treatment, King says that the stock is fairly valued at current levels.
08/18/16
ROTH
08/18/16
NO CHANGE
Target $2.5
ROTH
Buy
Roth Capital trims Cerulean price target, but remains a buyer
Roth Capital analyst Joseph Pantginis lowered his price target for Cerulean to $2.50 from $9 after the company's Phase 2 clinical trial of CRLX101 for advanced renal cell carcinoma, or RCC, demonstrated no statistically significant difference. Nonetheless, with a platform technology providing long-term pipeline fill and improvements in tumor targeting, Pantginis believes Cerulean remains an attractive opportunity despite the failure in late-stage RCC. He reiterates a Buy rating on the shares.
08/18/16
08/18/16
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. Twitter (TWTR) downgraded to Sell from Hold at Evercore ISI with analyst Ken Sena saying he sees "more risk than reward" ahead of Snapchat's anticipated monetization ramp this fall. 2. Ambev (ABEV) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Jeronimo De Guzman saying valuation is full and sees difficult near-term trends ahead given lower disposable income, volume weakness, and lower realized pricing. 3. Icahn Enterprises (IEP) downgraded to Sell from Neutral at UBS saying the company's net asset value, despite declining 49% since second quarter of 2015, seems to include optimistic valuations. 4. Cerulean (CERU) downgraded to Neutral from Buy at Janney Capital, to Market Perform from Outperform at Leerink, and to Market Perform from Outperform at JMP Securities. 5. Magellan Midstream (MMP) downgraded to Underweight at Morgan Stanley with analysts led by Tom Abrams citing a relatively high valuation as the number of lower multiple investment choices has increased. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/18/16
WEDB
08/18/16
DOWNGRADE
WEDB
Neutral
Cerulean downgraded to Neutral from Outperform at Wedbush
NVS Novartis
$76.31

0.73 (0.97%)

08/31/16
PIPR
08/31/16
NO CHANGE
PIPR
Piper's Schimmer unsure of impact from Novartis CAR-T shakeup
Piper Jaffray analyst Joshua Schimmer said he's struggling with the implications of the news that Novartis (NVS) is reportedly eliminating its Cell and Gene Therapy unit as a stand-alone entity, which is primarily focused on development of CAR-T and adoptive immunotherapies. On the one hand, removing a leading competitor is a positive for the rest of the field, Schimmer tells investors in a research note. On the other hand, the move by Novartis could signal "significant challenges" in the field, the analyst adds. Schimmer continues to prefer companies "with unique and differentiated approaches," namely Bellicum Pharmaceuticals (BLCM), Cellectis (CLLS), Lion Biotechnologies (LBIO), Amgen (AMGN), Celgene (CELG) and bluebird bio (BLUE). Juno Therapeutics (JUNO) and Kite Pharma (KITE) are down 6% and 5%, respectively, in midday trading.
09/02/16
LEER
09/02/16
NO CHANGE
LEER
Outperform
Teva third Copaxone patent invalidated as expected, says Leerink
Leerink analyst Jason Gerberry says Teva (TEVA) suffered a largely expected loss in its Copaxone 40mg patent battle, with the Patent Trial and Appeal Board, or PTAB, ruling a third patent invalid. The analyst believes the company will likely appeal the loss, along with PTAB rulings rendered last week that other Copaxone patents were invalid. Gerberry sees the bull case scenario of Teva securing patent exclusivity of the Copaxone 40mg as unlikely and says a settlement with Momenta (MNTA) and Novartis (NVS) is the most logical course of action to mitigate 2017-2018E EPS risk. He reiterates an Outperform rating on Teva's shares.
09/20/16
CHDN
09/20/16
INITIATION
Target $95
CHDN
Buy
Novartis initiated with a Buy at Chardan
Chardan initiated Novartis with a Buy and a $95 price target.
10/13/16
JEFF
10/13/16
DOWNGRADE
Target $36
JEFF
Hold
Pfizer downgraded to Hold from Buy at Jefferies
Jefferies analyst Jeffrey Holford downgraded Pfizer (PFE) to Hold citing a lack of positive catalysts. The analyst says the drivers for his upgrade to Buy have either played out or have not materialized, namely an inversion or GEP unit separation. To reflect the infusion business disposal and weaker Ibrance trends, Holford cut his mid-term earnings estimates for Pfizer by up to 7% and cut his price target for the shares to $36 from $39. The stock closed yesterday down 6c to $33.07. The analyst also sees increased risk of a major acquisition occurring over the next 12 months. In the global pharma space, Holford lists AbbVie (ABBV), Eli Lilly (LLY), Novartis (NVS) and AstraZeneca (AZN) as his top picks.

TODAY'S FREE FLY STORIES

OXY

Occidental Petroleum

$75.55

0.16 (0.21%)

, HES

Hess Corp.

$52.61

-1.23 (-2.28%)

07:14
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Upgrade
Occidental Petroleum, Hess Corp. rating change  »

Occidental Petroleum…

OXY

Occidental Petroleum

$75.55

0.16 (0.21%)

HES

Hess Corp.

$52.61

-1.23 (-2.28%)

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Futures lower as government shutdown enters day three »

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AIG

AIG

$61.55

0.02 (0.03%)

07:12
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VR

Validus

$46.72

0.81 (1.76%)

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Breaking Hot Stocks news story on Validus 

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  • 02

    Feb

REXR

Rexford Industrial

$28.79

0.47 (1.66%)

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ALK

Alaska Air

$68.88

-0.91 (-1.30%)

, BA

Boeing

$337.73

-2.43 (-0.71%)

07:11
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Hot Stocks
Alaska Air names Ray Conner to board »

Alaska Air Group (ALK),…

ALK

Alaska Air

$68.88

-0.91 (-1.30%)

BA

Boeing

$337.73

-2.43 (-0.71%)

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PCG

PG&E

$44.39

-0.11 (-0.25%)

07:10
01/22/18
01/22
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07:10
Recommendations
PG&E analyst commentary  »

PG&E price target…

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  • 09

    Feb

ENB

Enbridge

$39.39

-0.33 (-0.83%)

, SEP

Spectra Energy Partners

07:10
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Hot Stocks
Enbridge, Spectra Energy Partners complete elimination of IDRs »

Enbridge (ENB) and…

ENB

Enbridge

$39.39

-0.33 (-0.83%)

SEP

Spectra Energy Partners

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  • 22

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OMER

Omeros

$16.70

-0.02 (-0.12%)

07:10
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01/22
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Hot Stocks
Omeros receives positive opinion for OMS721 from EMA »

Omeros Corporation…

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EIX

Edison International

$62.12

0.2 (0.32%)

07:10
01/22/18
01/22
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07:10
Recommendations
Edison International analyst commentary  »

Edison International…

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TWOU

2U

$72.38

1.49 (2.10%)

07:09
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Hot Stocks
2U and WeWork partner in online graduate program expansion »

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NQ

NQ Mobile

$3.82

-0.07 (-1.80%)

07:07
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Hot Stocks
NQ Mobile proposes to rebrand, change name to "Link Motion Inc." »

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BLUE

bluebird bio

$175.95

-6.15 (-3.38%)

07:07
01/22/18
01/22
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Technical Analysis
Technical Take: bluebird bio moves higher »

The stock was last up…

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  • 26

    Feb

OPB

Opus Bank

$28.70

0.05 (0.17%)

07:07
01/22/18
01/22
07:07
01/22/18
07:07
Earnings
Opus Bank reports Q4 EPS including items 3c, consensus 38c »

Reports net income of…

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  • 22

    Jan

CQH

Cheniere Energy Partners LP

$28.22

0.22 (0.79%)

, CQP

Cheniere Energy Partners

$30.48

0.2 (0.66%)

07:06
01/22/18
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07:06
Conference/Events
Morgan Stanley to hold a tour »

Annual Morgan Stanley…

CQH

Cheniere Energy Partners LP

$28.22

0.22 (0.79%)

CQP

Cheniere Energy Partners

$30.48

0.2 (0.66%)

ENLC

EnLink Midstream

$18.75

0.25 (1.35%)

ENLK

EnLink Midstream Partners

$17.45

0.37 (2.17%)

EPD

Enterprise Products

$28.66

0.36 (1.27%)

NBLX

Noble Midstream

$55.10

-0.48 (-0.86%)

PAA

Plains All American

$22.49

-0.09 (-0.40%)

SHLX

Shell Midstream

$30.13

-0.03 (-0.10%)

TRGP

Targa Resources

$50.73

0.04 (0.08%)

WES

Western Gas Partners

$52.31

0.34 (0.65%)

WGP

Western Gas Equity

$40.42

0.5 (1.25%)

03/08/13
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  • 22

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REGN

Regeneron

$371.53

0.25 (0.07%)

, SNY

Sanofi

$44.60

0.09 (0.20%)

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Hot Stocks
Regeneron reports approval of Dupixent in Japan for atopic dermatitis »

Regeneron (REGN)…

REGN

Regeneron

$371.53

0.25 (0.07%)

SNY

Sanofi

$44.60

0.09 (0.20%)

03/08/13
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  • 16

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SLB

Schlumberger

$76.42

0.05 (0.07%)

07:06
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TTNP

Titan Pharmaceuticals

$1.28

0.025 (2.00%)

, BBRX

Braeburn Pharmaceuticals

07:06
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Titan Pharmaceuticals…

TTNP

Titan Pharmaceuticals

$1.28

0.025 (2.00%)

BBRX

Braeburn Pharmaceuticals

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CC

Chemours

$54.02

2.42 (4.69%)

, MMM

3M

$248.18

2.27 (0.92%)

07:05
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Conference/Events
ASHRAE and AHRI to co-host an expo »

The American Society of…

CC

Chemours

$54.02

2.42 (4.69%)

MMM

3M

$248.18

2.27 (0.92%)

ABB

ABB

$28.01

0.03 (0.11%)

03/08/13
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  • 22

    Jan

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  • 15

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07:05
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General news
Oil Action: WTI benchmark futures are fractionally lower »

Oil Action: WTI benchmark…

ACBFF

Aurora Cannabis

$10.77

0.302 (2.89%)

07:05
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Hot Stocks
CanniMed announces continuation of discussions with Aurora Cannabis »

CanniMed Therapeutics…

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ATNX

Athenex

$17.33

0.12 (0.70%)

07:04
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Hot Stocks
Athenex announces results of first cohort of Phase 1b clinical trial of Oraxol »

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LEVB

Level Brands

$5.10

-0.0385 (-0.75%)

07:03
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Level Brands, Kathy Ireland announce extension of Isodiol license agreement »

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ABAX

Abaxis

$61.16

0.35 (0.58%)

07:03
01/22/18
01/22
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07:03
Hot Stocks
Abaxis granted USDA Approval for new VetScan FLEX4 Rapid Test »

Abaxis' new VetScan…

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  • 25

    Jan

QURE

uniQure

$17.99

-0.01 (-0.06%)

07:03
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07:03
Hot Stocks
uniQure receives OMPD in EU for AMT-130 »

uniQure announced that…

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