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AMAG

AMAG Pharmaceuticals

$35.25

-0.25 (-0.70%)

, CORI

Corium

$4.81

0.2 (4.34%)

09:21
12/22/16
12/22
09:21
12/22/16
09:21

AMAG Pharmaceuticals, Corium top pharma picks for 2017 at Needham

Needham analyst Serge Belanger says that while 2016 kicked off with "the wrong kind of bang" for specialty pharma/biopharma equities, with the unraveling of the rollup strategies espoused by Valeant Pharmaceuticals (VRX) and Endo (ENDP) and the political rhetoric around drug pricing as headwinds throughout the year, the election outcome provides a more positive outlook for 2017. Nonetheless, the analyst believes the political uncertainty around drug pricing is likely to remain an ongoing but diminished concern with the new administration. Additionally, he expects some of the proposed tax changes of the new administration to be key drivers for driving M&A volumes in 2017 and beyond. Belanger believes this bodes well for companies in the classic spec pharma therapeutics areas that have historically benefited from consolidation, and said his top picks for 2017 are AMAG Pharmaceuticals (AMAG) and Corium (CORI).

AMAG

AMAG Pharmaceuticals

$35.25

-0.25 (-0.70%)

CORI

Corium

$4.81

0.2 (4.34%)

VRX

Valeant

ENDP

Endo

$15.69

-0.35 (-2.18%)

  • 16

    Feb

AMAG AMAG Pharmaceuticals
$35.25

-0.25 (-0.70%)

10/27/16
10/27/16
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. Fossil (FOSL) initiated with an Underperform at Buckingham. 2. AMAG Pharmaceuticals (AMAG) initiated with a Buy at Needham. 3. Ohr Pharmaceutical (OHRP) initiated with a Buy at H.C. Wainwright. 4. Sarepta (SRPT) initiated with an Equal Weight at Morgan Stanley. 5. CrossAmerica (CAPL) initiated with a Sector Perform at RBC Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/26/16
NEED
10/26/16
INITIATION
Target $40
NEED
Buy
AMAG Pharmaceuticals initiated with a Buy at Needham
Needham analyst Serge Belanger initiated AMAG Pharmaceuticals with a Buy and a $40 price target.
09/01/16
LEER
09/01/16
NO CHANGE
Target $36
LEER
Outperform
AMAG Pharmaceuticals price target lowered to $36 from $40 at Leerink
Leerink analyst Joseph Schwartz lowered his price target for AMAG Pharmaceuticals (AMAG) to $36 from $40, saying he is wary that its Makena auto-injector will garner increased attention in 2018, similar to Mylan's (MYL) EpiPen. The analyst believes AMAG Pharmaceuticals' auto-injector will receive FDA approval but it remains to be seen whether approval timing and future potential achieve the company's expectations. He reiterates an Outperform rating on the AMAG Pharmaceuticals' shares.
12/15/16
CANT
12/15/16
INITIATION
CANT
Neutral
AMAG Pharmaceuticals initiated with a Neutral at Cantor
CORI Corium
$4.81

0.2 (4.34%)

06/10/16
FBRC
06/10/16
NO CHANGE
Target $20
FBRC
Outperform
FBR adds Corium to Alpha Generator list, removes Lion
FBR Capital analyst Ed White added Corium (CORI) to his firm's Alpha Generator list while removing Lion Biotechnologies (LBIO). Corium is being underestimated by the Street as its management has a well-strategized plan to bring Corplex donepezil and Corplex memantine to market, White contends. He has an Outperform rating on the shares with a $20 price target. The analyst lowered his price target for Lion to $18 following the closing of its private financing. He reiterates an Outperform rating on the shares, however, saying it remains one of his top picks.
05/18/16
LEER
05/18/16
NO CHANGE
Target $14
LEER
Outperform
Corium price target lowered to $14 from $18 at Leerink
Leerink analyst Jason Gerberry lowered his price target for Corium to $14 from $18 to reflect his assumptions regarding dilutive financing needed to launch its donepezil-TDS. The analyst continues to view the risk and reward for the company as favorable and believes Corium will be able to leverage its transdermal formulation expertise and secure better partnership terms which should dramatically alter the margin profile of the company. Gerberry reiterates an Outperform rating on the shares.
12/16/16
CANT
12/16/16
INITIATION
Target $10
CANT
Overweight
Corium initiated with an Overweight at Cantor
Cantor Fitzgerald analyst William Tanner started Corium with an Overweight rating and $10 price target.
05/03/16
WBBS
05/03/16
UPGRADE
WBBS
Buy
Corium upgraded to Speculative Buy from Hold at WBB Securities
VRX Valeant

12/21/16
PIPR
12/21/16
NO CHANGE
PIPR
Gilead buying Alexion tops Piper's potential events in 2017
Piper Jaffray healthcare analysts, led by Joshua Schimmer, laid out 17 potential surprise or provocative events for Biopharma in 2017. Their potential outcomes and events are led Gilead (GILD) acquiring Alexion (ALXN) and a President Donald Trump tweeting about the price of Biogen and Ionis Pharmaceuticals' (IONS) Spinraza. Other potential events Piper sees is a "massively dilutive" equity recapitalization for Valeant (VRX) and a failure for Seattle Genetics' (SGEN) ECHELON trial. The firm also sees the potential for Teva cleaning house and bringing in a non-Israeli CEO.
12/15/16
12/15/16
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. Valeant (VRX) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst David Risinger saying the thesis that management would stabilize the business and execute asset sales has been wrong. 2. General Mills (GIS) downgraded to Sector Perform from Outperform at RBC Capital with analyst David Palmer saying he believes that accelerating U.S. volume declines which occurred over the last three months will limit the company's EPS growth. 3. Toyota (TM) downgraded to Neutral from Outperform at Macquarie. 4. Zimmer Biomet (ZBH) downgraded to Sell from Neutral at UBS with analyst Matt Miksic citing a survey of 139 U.S. orthopedic surgeons, which he said shows evidence of the share gain potential of Stryker's (SYK) MAKO in the U.S. total knee market. 5. Brinker (EAT) downgraded to Underperform from Market Perform at BMO Capital with analyst Andrew Strelzik citing valuation and the company's relatively weak margin outlook. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/15/16
12/15/16
DOWNGRADE
Target $17

Equal Weight
Valeant downgraded to Equal Weight on increased uncertainty at Morgan Stanley
As previously reported, Morgan Stanley downgraded Valeant to Equal Weight from Overweight and lowered its price target to $17 from $25. Analyst David Risinger said he thesis that management would stabilize the business and execute asset sales has been wrong. Further, Valeant announced executive departures on December 12, which the analyst said is an area of concern. Risinger lowered his 2017 sales estimate to $9.2B, below consensus of $9.4B, to reflect weaker business trends.
12/15/16
MSCO
12/15/16
DOWNGRADE
MSCO
Equal Weight
Valeant downgraded to Equal Weight from Overweight at Morgan Stanley
ENDP Endo
$15.69

-0.35 (-2.18%)

12/07/16
OPCO
12/07/16
INITIATION
OPCO
Perform
Endo assumed with a Perform at Oppenheimer
Oppenheimer analyst Derek Archila assumed coverage of Endo International with a Perform rating saying he's cautious on the company's turnaround amid a challenging environment.
11/10/16
SUSQ
11/10/16
UPGRADE
Target $22
SUSQ
Positive
Endo upgraded to Positive at Susquehanna
As reported previously, Susquehanna analyst Andrew Finkelstein upgraded Endo to Positive from Neutral. The analyst noted the company absorbed the latest round of pricing pressure after rebasing over a year ago. Finkelstein sees free cash flow being augmented through the streamlining of the business. Finkelstein raised his price target to $22 form $20 on Endo shares.
11/10/16
SUSQ
11/10/16
UPGRADE
SUSQ
Positive
Endo upgraded to Positive from Neutral at Susquehanna
11/09/16
LEER
11/09/16
NO CHANGE
Target $15
LEER
Market Perform
Endo price target lowered to $15 from $22 at Leerink
Leerink analyst Jason Gerberry lowered his price target for Endo to $15 from $22 after the company reported a modest Q3 top-line beat and sizeable EPS beat, but management left 2016 guidance unchanged and comments regarding growth outlook for generics suggest faster than expected 2017 erosion. The analyst reiterates a Market Perform rating on the shares.

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