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NVS

Novartis

$73.40

-0.22 (-0.30%)

13:48
04/21/17
04/21
13:48
04/21/17
13:48

Novartis' Sandoz reports positive CHMP opinions for two biosimilars

Sandoz, a Novartis division, announced that the Committee for Medicinal Products for Human Use, or CHMP, of the EMA has adopted positive opinions, separately recommending the approval of both Sandoz' biosimilar rituximab and biosimilar etanercept in Europe, to treat the same indications as their respective reference medicines. If approved, Sandoz biosimilar rituximab may be used in all indications of the reference medicine, MabThera, which are non-Hodgkin's lymphoma - follicular lymphoma and diffuse large B-cell lymphoma - chronic lymphocytic leukemia, rheumatoid arthritis, granulomatosis with polyangiitis, and microscopic polyangiitis. If Sandoz biosimilar etanercept is approved, it may be used in all indications of the reference medicine, Enbrel, which are rheumatoid arthritis, axial spondyloarthritis, plaque psoriasis, psoriatic arthritis, Juvenile idiopathic arthritis and pediatric plaque psoriasis.

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NVS Novartis
$73.40

-0.22 (-0.30%)

04/05/17
COWN
04/05/17
DOWNGRADE
Target $77
COWN
Market Perform
Novartis downgraded to Market Perform from Outperform at Cowen
Cowen analyst Steve Scala downgraded Novartis to Market Perform and lowered his price target for the shares to $77 from $87. The analyst believes the company's earnings growth looks below the industry average given the current weakness in Alcon and Entresto's slow rollout.
04/05/17
04/05/17
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. AstraZeneca (AZN) downgraded to Neutral from Buy at UBS. 2. Novartis (NVS) downgraded to Market Perform from Outperform at Cowen with analyst Steve Scala saying he believes the company's earnings growth looks below the industry average given the current weakness in Alcon and Entresto's slow rollout. 3. MSG Networks (MSGN) downgraded to Neutral following NY Post report at Macquarie with analyst Tim Nollen citing valuation and maintained its $26 price target. 4. Generac (GNRC) downgraded to Sector Weight from Overweight at KeyBanc with analyst Jeffrey Hammond citing concerns that increased pricing incentives and normalizing storm activity are impacting the growth for the company's Residential home standby business. 5. Amgen (AMGN) downgraded to Hold from Buy at Jefferies with analyst Eun Yang saying she believes upside in the stock will likely be "muted" after her payor poll indicated continuing reimbursement challenges for Repatha, Amgen's PCSK9 inhibitor to treat high cholesterol. Yang also sees a "scarcity of blockbuster potential pipeline products" and feels a transformative acquisition is unlikely. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/18/17
WELS
04/18/17
NO CHANGE
WELS
Allergan partnership a 'promising free option,' says Wells Fargo
Wells Fargo analyst David Maris views Allergan's (AGN) partnership with Novartis (NVS) to conduct a Phase IIb study using its cenicriviroc and Novartis's lead FXR agonist for the treatment of nonalcoholic steatohepatitis as a "promising free option." The deal is a way to maximize Allergan's shots-on-goal in combination NASH treatments, Maris tells investors in a research note. He has an Outperform rating on Allergan shares.
04/21/17
ROTH
04/21/17
NO CHANGE
Target $12
ROTH
Buy
Conatus price target raised to $12 from $4 at Roth Capital
Roth Capital analyst Sa'ar Yaniv raised his price target for Conatus (CNAT) to $12 from $4 following discussions with management, 2016 results, assessment of the competitive cirrhosis space, and clarity from the Novartis (NVS) deal. The analyst believes Conatus' shares are undervalued and reiterates a Buy rating on the stock.

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