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MNTA

Momenta

$14.95

-0.3 (-1.97%)

, BMY

Bristol-Myers

$58.70

0.01 (0.02%)

14:44
12/22/16
12/22
14:44
12/22/16
14:44

Momenta loses challenge to Bristol-Myers' Orencia patent

In a final written decision posted to the site of the USPTO, an administrative patent judge stated that the "preponderance of the evidence does not support" Momenta Pharmaceuticals' (MNTA) argument that the challenged claims 1-15 of U.S. Patent No. 8,476,239 would have been obvious. The '239 patent covers "stable" formulations of a fusion protein called "CTLA4Ig" that are suitable for subcutaneous administration. CTLA4Ig compositions are useful for treating autoimmune diseases and one composition, sold under the name Orencia by Bristol-Myers (BMY), has been approved by the Food & Drug Administration for treatment of rheumatoid arthritis.

MNTA

Momenta

$14.95

-0.3 (-1.97%)

BMY

Bristol-Myers

$58.70

0.01 (0.02%)

  • 19

    Jan

  • 26

    Jan

  • 21

    Feb

MNTA Momenta
$14.95

-0.3 (-1.97%)

10/11/16
LEHM
10/11/16
UPGRADE
Target $19
LEHM
Overweight
Momenta upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Douglas Tsao upgraded Momenta Pharmaceuticals to Overweight after attending the consolidated Copaxone 40mg trial. The analyst sees low risk of Momenta being blocked from the 40mg opportunity past 2018 and views the stock's risk/reward as "compelling" at current levels. Tsao believes there is a "good likelihood" that Sandoz, Momenta's partner, launches Copaxone 40mg at-risk as soon as February 2017 upon FDA approval when the 30-month stay expires. The analyst raised his price target for Momenta shares to $19 from $13.
11/22/16
AGIS
11/22/16
INITIATION
Target $15
AGIS
Hold
Momenta initiated with a Hold at Aegis
Aegis analyst Difei Yang iniatied Momenta with a Hold and a $15 price target.
11/29/16
MAXM
11/29/16
NO CHANGE
Target $6
MAXM
Sell
Momenta launch of Humira biosimilar could be delayed, says Maxim
Maxim analyst Jason McCarthy continues to believe that Momenta Pharmaceuticals' launch of M923, a biosimilar of Humira, could be delayed after the company said a Phase III study met its endpoint. The results are not a surprise as the question is not efficacy, it is legal, McCarthy tells investors in a research note. He believes Momenta put too much emphasis on "science/technology" when it comes to biosimilars and not enough on intellectual property. McCarthy keeps a Sell rating on Momenta shares with a $6 price target. The stock is up 30c to $14.20 in afternoon trading.
11/29/16
MAXM
11/29/16
NO CHANGE
Target $6
MAXM
Sell
Question on Momenta's biosimilar Humira not efficacy, but legality, says Maxim
Maxim analyst Jason McCarthy noted that Momenta (MNTA) announced that M923, its biosimilar version of Humira, met the primary endpoint in a trial of its efficacy, but added that the question about the product "is not efficacy, it is legal." If M923 is approved, a fight over IP with AbbVie (ABBV) could delay the commercial launch to 2022 or later, said McCarthy, who keeps a Sell rating on Momenta shares.
BMY Bristol-Myers
$58.70

0.01 (0.02%)

12/01/16
COWN
12/01/16
NO CHANGE
Target $85
COWN
Outperform
Bristol-Myers price target lowered to $85 from $100 at Cowen
Cowen analyst Steve Scala lowered his price target on Bristol-Myers to $85 from $100 due to the increased competition in the PD-1/PD-L1 area. However, following a meeting with management the analyst came away with stronger conviction in both the company's strategy and pipeline. Scala maintained his Buy rating on Bristol-Myers shares.
12/19/16
JEFF
12/19/16
UPGRADE
Target $69
JEFF
Buy
Bristol-Myers upgraded to Buy from Hold at Jefferies
Jefferies analyst Jeffrey Holford upgraded Bristol-Myers Squibb (BMY) to Buy on expectations the company will share with AstraZeneca (AZN) the cytotoxic T-lymphocyte-associated antigen-4 combo opportunity in non-small cell lung cancer. Holford views Bristol shares as attractive valued and upped his price target for the name to $69 from $60.
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
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. Bristol-Myers (BMY) and Bayer (BAYRY) were upgraded to Buy from Hold at Jefferies. 2. Costco (COST) upgraded to Buy from Neutral at Citi with analyst Kate McShane saying she sees a "clear path" to accelerating same-store-sales growth in fiscal 2017 as gasoline price deflation headwinds abate and benefits arise from the new co-branded credit card. 3. United Technologies (UTX) upgraded to Outperform from Neutral at Credit Suisse with analyst Julian Mitchell saying he believes consensus estimates are poised to move higher after years of heavy investment spending drive an earnings recovery. 4. ASML (ASML) upgraded to Buy from Neutral at BofA/Merrill with analyst Kai Korschelt saying a recent expert's call indicates progress with Extreme Ultraviolet/EUV lightsource optics & ecosystem and sees improving volume visibility from 2018 forward. 5. Gulfport Energy (GPOR) upgraded to Buy from Neutral at Guggenheim and to Overweight from Equal Weight at Stephens. 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

CHRW

C.H. Robinson

$78.79

0.36 (0.46%)

13:25
11/22/17
11/22
13:25
11/22/17
13:25
Options
CH Robinson Worldwide call volume above normal and directionally bullish »

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  • 11

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  • 09

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$NSD

NASDAQ Market Internals

13:17
11/22/17
11/22
13:17
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13:17
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NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

13:16
11/22/17
11/22
13:16
11/22/17
13:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

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13:05
11/22/17
11/22
13:05
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13:05
General news
Canada retail sales preview »

Canada retail sales…

BHGE

Baker Hughes

$30.68

0.02 (0.07%)

13:03
11/22/17
11/22
13:03
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13:03
Hot Stocks
Baker Hughes reports U.S. rig count up 8 to 923 rigs »

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  • 14

    Dec

HON

Honeywell

$149.34

-0.014 (-0.01%)

13:00
11/22/17
11/22
13:00
11/22/17
13:00
Options
Defensive option play in Honeywell as shares ease off 52-week highs »

Defensive option play in…

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OCLR

Oclaro

$6.86

0.37 (5.70%)

12:50
11/22/17
11/22
12:50
11/22/17
12:50
Options
Opening activity in Oclaro calls that expire next week »

Opening activity in…

03/08/13
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  • 28

    Nov

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    Nov

  • 12

    Dec

DE

Deere

$145.30

6.07 (4.36%)

, HPQ

HP Inc.

$21.02

-1.445 (-6.43%)

12:36
11/22/17
11/22
12:36
11/22/17
12:36
General news
On The Fly: Top stock stories at midday »

Stocks began the session…

DE

Deere

$145.30

6.07 (4.36%)

HPQ

HP Inc.

$21.02

-1.445 (-6.43%)

HPE

HP Enterprise

$13.02

-1.1 (-7.79%)

GME

GameStop

$17.86

1.13 (6.75%)

GES

Guess

$15.80

-2.15 (-11.98%)

GKOS

Glaukos

$23.96

-1.39 (-5.48%)

ROK

Rockwell Automation

$190.25

-2.77 (-1.44%)

EMR

Emerson

$61.78

1.425 (2.36%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 22

    Nov

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    Nov

  • 11

    Dec

12:35
11/22/17
11/22
12:35
11/22/17
12:35
General news
U.S. VIX equity volatility probed 1-month lows of 9.32 »

U.S. VIX equity…

IRBT

iRobot

$73.07

0.95 (1.32%)

12:26
11/22/17
11/22
12:26
11/22/17
12:26
Hot Stocks
iRobot weakness attributed to steeper Roomba discounts »

Shares of iRobot (IRBT)…Reference Link

03/08/13
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03/06/13
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03/06/13
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GSK

GlaxoSmithKline

$35.09

0.28 (0.80%)

12:25
11/22/17
11/22
12:25
11/22/17
12:25
Options
GlaxoSmithKline call volume above normal and directionally bullish »

Bullish option flow…

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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MBVX

MabVax Therapeutics

$0.71

0.0541 (8.26%)

12:25
11/22/17
11/22
12:25
11/22/17
12:25
Conference/Events
MabVax Therapeutics to host special shareholder meeting »

Special Shareholder…

03/08/13
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  • 22

    Nov

$NSD

NASDAQ Market Internals

12:17
11/22/17
11/22
12:17
11/22/17
12:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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$NYE

NYSE Market Internals

12:16
11/22/17
11/22
12:16
11/22/17
12:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

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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ACHN

Achillion

$3.43

-0.02 (-0.58%)

, JNJ

Johnson & Johnson

$137.11

-1.23 (-0.89%)

12:10
11/22/17
11/22
12:10
11/22/17
12:10
Hot Stocks
Johnson & Johnson reports sale of 18.37M shares of Achillion »

In a regulatory filing,…

ACHN

Achillion

$3.43

-0.02 (-0.58%)

JNJ

Johnson & Johnson

$137.11

-1.23 (-0.89%)

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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  • 14

    Dec

XON

Intrexon

$13.69

1.315 (10.63%)

12:05
11/22/17
11/22
12:05
11/22/17
12:05
Options
Intrexon call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
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03/06/13
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03/06/13
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AMZN

Amazon.com

$1,139.49

13.18 (1.17%)

, EBAY

eBay

$35.96

0.43 (1.21%)

12:04
11/22/17
11/22
12:04
11/22/17
12:04
Periodicals
Shoppers to spend 7.3% more online during Thanksgiving weekend, report says »

Shoppers are expected to…

AMZN

Amazon.com

$1,139.49

13.18 (1.17%)

EBAY

eBay

$35.96

0.43 (1.21%)

WMT

Wal-Mart

$96.34

-0.18 (-0.19%)

KSS

Kohl's

$44.83

0.62 (1.40%)

TGT

Target

$57.64

0.3868 (0.68%)

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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  • 18

    Mar

PN

Patriot National

12:04
11/22/17
11/22
12:04
11/22/17
12:04
Hot Stocks
Patriot National slides after reporting forbearance agreement with lenders »

In a regulatory filing…

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12:00
11/22/17
11/22
12:00
11/22/17
12:00
General news
EIA natural gas storage change for week ending November 17 »

Gas inventories 46 Bcf…

12:00
11/22/17
11/22
12:00
11/22/17
12:00
General news
FX Action: USD-CAD »

FX Action: USD-CAD has…

PN

Patriot National

11:59
11/22/17
11/22
11:59
11/22/17
11:59
Hot Stocks
Breaking Hot Stocks news story on Patriot National »

Patriot National trading…

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03/06/13
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CBS

CBS

$56.41

-0.33 (-0.58%)

, DISH

Dish

$50.04

0.03 (0.06%)

11:59
11/22/17
11/22
11:59
11/22/17
11:59
Hot Stocks
CBS says still 'far apart' on terms with Dish for new deal »

CBS (CBS) issued the…

CBS

CBS

$56.41

-0.33 (-0.58%)

DISH

Dish

$50.04

0.03 (0.06%)

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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CBOE

CBOE Holdings

$119.63

0.4 (0.34%)

11:55
11/22/17
11/22
11:55
11/22/17
11:55
Options
CBOE Holdings put volume heavy and directionally bearish »

Bearish flow noted in…

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11:55
11/22/17
11/22
11:55
11/22/17
11:55
General news
FOMC minutes preview: the minutes won't have much to offer »

FOMC minutes preview: the…

11:45
11/22/17
11/22
11:45
11/22/17
11:45
General news
Breaking General news story  »

Week of 11/17 EIA Natural…

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