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MRK

Merck

$59.43

-1.07 (-1.77%)

08:36
12/22/16
12/22
08:36
12/22/16
08:36

Merck announces Keytruda approval in Japan

As previously reported, Merck announced on December 19 that KEYTRUDA, the company's anti-PD-1 therapy, has been approved in Japan for the treatment of certain patients with PD-L1-positive unresectable advanced/recurrent non-small cell lung cancer in the first- and second-line treatment settings at a fixed dose of 200 mg every three weeks. MSD will manufacture and market KEYTRUDA in Japan and will promote it with Taiho Pharmaceutical Co., Ltd. The Japanese Ministry of Health, Labour, and Welfare approval is supported by findings from both the KEYNOTE-024 and KEYNOTE-010 studies. KEYNOTE-024 is a randomized, open-label, phase 3 study evaluating KEYTRUDA monotherapy at a fixed dose of 200 mg compared to standard of care platinum-containing chemotherapy for the treatment of patients with both squamous and non-squamous metastatic NSCLC. The study enrolled patients who had not received prior systemic chemotherapy treatment for their metastatic disease and whose tumors had high PD-L1 expression with no EGFR or ALK aberrations. KEYNOTE-010 is an open-label, randomized, phase 2/3 trial assessing two doses of KEYTRUDA compared to docetaxel, a standard of care chemotherapy. This study enrolled patients with any level of PD-L1 expression who had progressed following platinum-containing chemotherapy and, if appropriate, targeted therapy for EGFR or ALK genomic tumor aberrations.

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    Jan

  • 01

    Feb

  • 21

    Feb

  • 08

    Mar

MRK Merck
$59.43

-1.07 (-1.77%)

12/12/16
BMOC
12/12/16
NO CHANGE
BMOC
Merck Verubecestat ' highly under-appreciated,' says BMO Capital
After attending an Alzheimer's conference, BMO Capital analyst Alex Arfaei has "increased confidence" that Alzheimer's Disease is "at least initially caused by a buildup of amyloid beta in the brain." The analyst reports that "a few experts" were upbeat on the ability of Merck's BACE inhibitor, Verubecestat, to slow amyloid beta production. The analyst says that BACE inhibitors "are a potent way of slowing (amyloid beta) production, and if safe, could have great promise." He thinks that " Verubecestat is a highly under-appreciated asset," and keeps a $72 price target and an Outperform rating on the stock.
12/16/16
BARD
12/16/16
NO CHANGE
Target $100
BARD
Outperform
Gilead Hep C royalty to Merck looks increasingly likely, says Baird
After Merck (MRK) won its second Hep C patent infringement case against Gilead (GILD) this year and a jury awarded $2.54B in damages, Baird analyst Brian Skorney noted that Gilead plans to appeal but also said that a royalty looks increasingly likely. Skorney, who now assumes a 50% probability of the $2.54B payout and a 35% chance of a 10% royalty on Hep C sales in perpetuity, called the payout "chump change" for Gilead and said that a 10% royalty would provide a "modest drag" on Gilead's free cash. The analyst has an Outperform rating and $100 price target on Gilead shares.
12/19/16
JEFF
12/19/16
DOWNGRADE
Target $48
JEFF
Underperform
Merck downgraded to Underperform from Hold at Jefferies
Jefferies analyst Jeffrey Holford downgraded Merck (MRK) to Underperform, his firm's sell-rating equivalent. The analyst sees Pharmaceutical sector fundamentals weakening in 2017 amid political overhangs and an adverse macro environment. Potential dual eligible rebate reform is the most significant risk, Holford tells investors in a research note. Specific to Merck, the analyst expects further pressure on Keytruda in 2018, driven by share losses in non-small cell lung cancer to Bristol-Myers Squibb (BMY), AstraZeneca (AZN) and Roche (RHHBY). Merck screens poorly on many valuation metrics, Holford contends. He lowered his price target for the shares to $48 from $59. The stock closed Friday up 7c to $62.44. The analyst this morning also upgraded both Bristol-Myers Squibb (BMY) and Bayer (BAYRY) to Buy from Hold. His top picks in Pharmaceuticals are AbbVie (ABBV) and Eli Lilly (LLY) for the U.S. and AstraZeneca and Novartis (NVS) in Europe.
12/19/16
12/19/16
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. Merck (MRK) downgraded to Underperform from Hold at Jefferies with analyst Jeffrey Holford saying he sees Pharmaceutical sector fundamentals weakening in 2017 amid political overhangs and an adverse macro environment. 2. Lowe's (LOW) downgraded to Neutral from Buy at Citi with analyst Kate McShane citing the potential for the company missing recently stated comp targets. 3. JAKKS Pacific (JAKK) was downgraded to Neutral from Overweight at Piper Jaffray and to Market Perform from Outperform at BMO Capital. 4. Sunoco (SUN) downgraded to Neutral from Buy at BofA/Merrill with analyst Gabe Moreen saying Moody's downgrade of Sunoco's debt to Ba2 to Ba3 reaffirms that its leverage is elevated and could continue to pressure its ability to deleverage near-term. 5. KeyCorp (KEY) downgraded to Equal Weight from Overweight at Stephens with analyst Terry McEvoy citing four total rate hikes occurring in the first and third quarter of 2017 and 2018. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

DE

Deere

$147.68

2.43 (1.67%)

, SAN

Banco Santander

$6.62

0.155 (2.40%)

10:01
11/24/17
11/24
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10:01
Recommendations
On The Fly: Top five analyst actions »

Catch up on today's…click here.

DE

Deere

$147.68

2.43 (1.67%)

SAN

Banco Santander

$6.62

0.155 (2.40%)

TSU

Tim Participacoes

$19.28

0.53 (2.83%)

GRFS

Grifols

$23.04

-0.13 (-0.56%)

ZTO

ZTO Express

$16.17

-0.84 (-4.94%)

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  • 28

    Nov

SPY

SPDR S&P 500 ETF Trust

$260.24

0.4811 (0.19%)

10:00
11/24/17
11/24
10:00
11/24/17
10:00
Options
42K SPYders Jan 240 - 250 put spreads sold at 73c, untied »

42K SPYders Jan 240 - 250…

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10:00
11/24/17
11/24
10:00
11/24/17
10:00
General news
U.S. November Markit manufacturing PMI fell 0.8 points to 53.8 »

U.S. November Markit…

EFX

Equifax

$109.96

0.15 (0.14%)

09:56
11/24/17
11/24
09:56
11/24/17
09:56
Conference/Events
Equifax management to meet with Evercore ISI »

Meeting to be held in…

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    Nov

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    Dec

M

Macy's

$21.18

0.55 (2.67%)

, DVA

DaVita

$56.72

1.33 (2.40%)

09:55
11/24/17
11/24
09:55
11/24/17
09:55
Options
Early notable gainers among liquid option names on November 24th »

Notable gainers among…

M

Macy's

$21.18

0.55 (2.67%)

DVA

DaVita

$56.72

1.33 (2.40%)

KSS

Kohl's

$45.31

0.68 (1.52%)

HES

Hess Corp.

$44.08

0.63 (1.45%)

GPS

Gap

$29.55

0.38 (1.30%)

03/08/13
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  • 18

    Mar

TSLA

Tesla

$312.60

-5.21 (-1.64%)

09:52
11/24/17
11/24
09:52
11/24/17
09:52
Hot Stocks
Tesla lists base price of 300 mile range Semi at $150,000 »

Tesla on its website…

03/08/13
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  • 16

    Jan

OSTK

Overstock.com

$61.05

0.6 (0.99%)

09:51
11/24/17
11/24
09:51
11/24/17
09:51
Technical Analysis
Technical View: Overstock.com spikes sharply to new 52-week high »

The stock briefly hit a…

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JPM

JPMorgan

$98.68

0.04 (0.04%)

, CME

CME Group

$141.87

-0.71 (-0.50%)

09:50
11/24/17
11/24
09:50
11/24/17
09:50
Hot Stocks
The Intersection: Crypto and Wall Street This Week »

As bitcoin, ethereum and…

JPM

JPMorgan

$98.68

0.04 (0.04%)

CME

CME Group

$141.87

-0.71 (-0.50%)

MS

Morgan Stanley

$49.23

0.14 (0.29%)

MCD

McDonald's

$169.23

0.1804 (0.11%)

AMD

AMD

$11.37

-0.03 (-0.26%)

NVDA

Nvidia

$214.93

-1.12 (-0.52%)

GBTC

Bitcoin Investment Trust

$995.00

23.8 (2.45%)

BITCOIN

Bitcoin

BTC

Bitcoin

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 27

    Nov

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    Jan

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    Feb

  • 13

    Apr

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    Jul

  • 12

    Oct

09:42
11/24/17
11/24
09:42
11/24/17
09:42
General news
S&P 500 rises to all time high at start of holiday-shortened session »

Investors returning from…

STAG

STAG Industrial

09:41
11/24/17
11/24
09:41
11/24/17
09:41
Conference/Events
STAG Industrial management to meet with Evercore ISI »

Meeting to be held in…

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  • 28

    Nov

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    Dec

ETE

Energy Transfer Equity

, QCOM

Qualcomm

$68.13

1.46 (2.19%)

09:40
11/24/17
11/24
09:40
11/24/17
09:40
Options
Unusually active option classes on open November 24th »

Unusual total active…

ETE

Energy Transfer Equity

QCOM

Qualcomm

$68.13

1.46 (2.19%)

TEVA

Teva

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 06

    Mar

COP

ConocoPhillips

09:39
11/24/17
11/24
09:39
11/24/17
09:39
Conference/Events
ConocoPhillips management to meet with Evercore ISI »

Meeting to be held in…

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  • 28

    Nov

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    Nov

QD

Qudian

09:37
11/24/17
11/24
09:37
11/24/17
09:37
Recommendations
Qudian analyst commentary  »

Qudian price target…

03/08/13
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MET

MetLife

09:37
11/24/17
11/24
09:37
11/24/17
09:37
Conference/Events
MetLife management to meet with Evercore ISI »

Meeting to be held in…

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  • 28

    Nov

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    Dec

SOLVY

Solvay

09:35
11/24/17
11/24
09:35
11/24/17
09:35
Conference/Events
Solvay management to meet with Evercore ISI »

Meetings to be held in…

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  • 28

    Nov

SPY

SPDR S&P 500 ETF Trust

, SPX

S&P 500

09:34
11/24/17
11/24
09:34
11/24/17
09:34
Technical Analysis
Technical View: S&P 500 edges new life high, pivot high broken »

The S&P 500 (SPX) was…

SPY

SPDR S&P 500 ETF Trust

SPX

S&P 500

03/08/13
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GRFS

Grifols

$23.04

-0.13 (-0.56%)

09:33
11/24/17
11/24
09:33
11/24/17
09:33
Downgrade
Grifols rating change  »

Grifols downgraded to…

03/08/13
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BMA

Banco Macro

09:32
11/24/17
11/24
09:32
11/24/17
09:32
Downgrade
Banco Macro rating change  »

Banco Macro downgraded to…

03/08/13
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03/06/13
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03/06/13
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TSU

Tim Participacoes

09:32
11/24/17
11/24
09:32
11/24/17
09:32
Upgrade
Tim Participacoes rating change  »

Tim Participacoes…

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09:30
11/24/17
11/24
09:30
11/24/17
09:30
General news
PMI Composite Flash â€' Level to be reported at 09:45 »

November PMI Composite…

09:30
11/24/17
11/24
09:30
11/24/17
09:30
General news
PMI Composite Flash Manufacturing â€' Level to be reported at 09:45 »

November PMI Composite…

DSX

Diana Shipping

09:25
11/24/17
11/24
09:25
11/24/17
09:25
Hot Stocks
Diana Shipping announces time charter contract for m/v Norfolk »

Diana Shipping announced…

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LAUR

Laureate Education

$11.63

0.22 (1.93%)

09:25
11/24/17
11/24
09:25
11/24/17
09:25
Recommendations
Laureate Education analyst commentary  »

Laureate received…

03/08/13
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03/06/13
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03/06/13
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CPRT

Copart

$41.01

4.31 (11.74%)

09:23
11/24/17
11/24
09:23
11/24/17
09:23
Recommendations
Copart analyst commentary  »

Copart price target…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 19

    Dec

SPX

S&P 500

, VIX

Volatility Index S&P 500 Options

09:18
11/24/17
11/24
09:18
11/24/17
09:18
Options
Overnight activity included 97 trades in SPX and 9 trades in VIX »

97 trades were executed…

SPX

S&P 500

VIX

Volatility Index S&P 500 Options

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03/06/13
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