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VRX

Valeant

$17.29

0.3 (1.77%)

, JNJ

Johnson & Johnson

$131.86

-0.37 (-0.28%)

09:07
07/14/17
07/14
09:07
07/14/17
09:07

J&J approval another negative for Valeant, says Wells Fargo

Wells Fargo analyst David Maris says Valeant Pharmaceuticals (VRX) has a new competitor in the psoriasis space after the FDA yesterday approved Tremfya from Johnson & Johnson (JNJ). The news is another negative for Valeant, which is about to launch its own psoriasis treatment, Siliq, in the second half of 2017, Maris tells investors in a research note. With Talz from Eli Lilly (LLY), Humira from AbbVie (ABBV), Cosentyx from Novartis (NVS) and now J&J as a new competitor, Valeant is unlikely to be competitive in the psoriasis market, Maris contends. He believes his peak sales estimate of $250M for Siliq may prove optimistic given the competition. Maris an Underperform rating on Valeant with a $9 price target. The drugmaker closed yesterday at $17.29.

VRX

Valeant

$17.29

0.3 (1.77%)

JNJ

Johnson & Johnson

$131.86

-0.37 (-0.28%)

LLY

Eli Lilly

$84.02

0.52 (0.62%)

ABBV

AbbVie

$72.63

0.75 (1.04%)

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VRX Valeant
$17.29

0.3 (1.77%)

07/12/17
PIPR
07/12/17
NO CHANGE
Target $10
PIPR
Underweight
Valeant valuation 'does not make sense,' says Piper Jaffray
Piper Jaffray analyst David Amsellem says that while the company's debt situation is beginning to get better, the current valuation of Valeant Pharmaceuticals "does not make sense." Valeant shares have nearly doubled since the April lows of around $8 per share, which is a function of the recent debt transactions that push out significant maturities into 2020-plus as well as recent asset sales, Amsellem tells investors in a research note. While liquidity risk is now "far less of an issue," Valeant's net debt to estimated 2017 EBITDA ratio is still well north of seven times, and trends for its key U.S. segments still do not look favorable, the analyst argues. He reiterates an Underweight rating on the shares with a $10 price target. Valeant closed yesterday down 9c to $16.57.
07/06/17
JPMS
07/06/17
NO CHANGE
Target $10
JPMS
Neutral
JPMorgan sees few signs of a turnaround despite Valeant's 77% rally
Sentiment on Valeant Pharmaceuticals has become "meaningfully less bearish" with the stock up 77% since the Q1 earnings report, JPMorgan analyst Chris Schott tells investors in a research note. The Q1 guidance raise, debt refinancing transactions and the potential for a debt-to-equity exchange have topped off a "series of constructive events," Schott writes. The analyst, however, continues to see "only limited signs of a turnaround" in Valeant's core franchises and notes that the company's leverage "remains challenging." Valeant now trades at a premium to the Specialty Pharma group and only a modest discount to the Major Pharma group, the analyst contends. He continues to see a "long road to recovery" for Valeant and believes a sum-of-the-parts valuation argument is not compelling given the "number of uncertainties that remain for the core business." Schott keeps a Neutral rating on Valeant with a $10 price target. The drugmaker closed yesterday up 17c to $17.14.
06/29/17
CANT
06/29/17
NO CHANGE
Target $23
CANT
Overweight
Valeant price target raised to $23 from $18 at Cantor Fitzgerald
In a research note partially titled "We Are Not Waiting Around For More Shoes to Drop," Cantor Fitzgerald analyst Louise Chen raised her price target for shares of Valeant Pharmaceuticals to $23 from $18. The drugmaker closed yesterday up 50c to $17.15. The price target raise is driven by multiple expansion, Chen tells investors in her note. She believes this is deserved because Valeant's "execution has continued to meet or exceed our expectations." The analyst thinks the company has reached a positive inflection point in its turnaround. Chen is confident in CEO Joe Papa's ability to return Valeant to growth. The analyst highlights positive script trends for Salix and believes the company can continue to refinance its debt to push out the maturities beyond where they are today.
06/27/17
WELS
06/27/17
NO CHANGE
WELS
Underperform
Several Valeant products on FDA generic focus list, says Wells Fargo
Wells Fargo analyst David Maris noted that several Valeant products are included on the FDA's list of branded drugs that have no listed patents or exclusivities and for which the agency has yet to approve an abbreviated new drug application. The FDA said it intends to expedite the review of any generic drug application for a product on this list, which Maris feels is a risk about which Valeant investors should be aware. He keeps an Underperform rating on Valeant shares.
JNJ Johnson & Johnson
$131.86

-0.37 (-0.28%)

06/20/17
ADAM
06/20/17
NO CHANGE
Target $10
ADAM
Buy
Novadaq competing bids possible if not probable, says Canaccord
Canaccord analyst Jason Mills noted Novadaq (NVDQ) received an acquisition offer from Stryker (SYK) at a much greater equity value than what the company was trading at prior to the bid. Although he thinks Stryker is the most logical buyer of the franchise, he thinks there are several other potential acquirers, including Medtronic (MDT), Johnson & Johnson (JNJ) and Intuitive Surgical (ISRG), in that order. Mills believes this is a good exit for the company and that Stryker is getting a good asset. Mills maintains his Buy rating and $10 price target on Novadaq shares.
06/14/17
RHCO
06/14/17
NO CHANGE
RHCO
Eli Lilly has positive read through from J&J data, says SunTrust
SunTrust analyst John Boris says that data for Johnson & Johnson's (JNJ) Invokana for diabetes represented a best-case scenario for Eli Lilly (LLY). J&J's drug "significantly reduced the combined risk of cardiovascular death, myocardial infarction and nonfatal stroke in diabetes patients at risk for or with a history of CV diseases," and its efficacy on CV death is positive for the SGLT-2 class, to which Eli Lilly's Jardiance also belongs, according to the analyst. But the data leaves Jardiance, which reduced CV death by a statistically significant 38% versus Invokana's non-significant 13%, as the best in the class, wrote the analyst, who reiterates a $101 price target and a Buy rating on Eli Lilly.
06/27/17
06/27/17
NO CHANGE

Large cap pharma could benefit from upcoming executive order, says Wells Fargo
Wells Fargo says that, based on press reports, large cap pharma could benefit from President Trump's upcoming executive order on drug pricing. The firm says the articles indicate that the order will not create major reforms or do anything to lower consumers' costs or solve current pricing issues. Publicly traded companies in the space include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).
06/12/17
RHCO
06/12/17
NO CHANGE
RHCO
Misunderstanding creates buying opportunity in Tesaro stock, says SunTrust
SunTrust analyst Peter Lawson says that the suspension of participant recruitment by Johnson & Johnson (JNJ) for a study of Tesaro's (TSRO) PARP inhibitor Zejula in prostate cancer "is being incorrectly viewed as a clinical hold." After speaking with J&J, Lawson says that the suspension was not due to clinical or safety issues, but to overly fast enrollment. The analyst says that the early data on PARP inhibitors in prostate cancer has been "encouraging." He believes that the misunderstanding has created a buying opportunity in Tesaro stock. .
LLY Eli Lilly
$84.02

0.52 (0.62%)

06/07/17
FBCO
06/07/17
NO CHANGE
Target $38
FBCO
Outperform
ASCO meeting highlights pressure on Pfizer cancer assets, says Credit Suisse
Credit Suisse analyst Vamil Divan said he came away from the ASCO meeting feeling like positive progress by competitors is increasing the pressure on Pfizer's (PFE) cancer assets, specifically pointing to positive data for Roche's (RHHBY) Alecensa, Johnson & Johnson's (JNJ) Zytiga and Eli Lilly's (LLY) abemaciclib. Additionally, competition in the immune-oncology and PARP spaces will make it more challenging for Pfizer to gain traction, added Divan. He keeps an Outperform rating on Pfizer, citing valuation and its dividend yield, but he has concerns about its upcoming patent expirations and growth products.
06/12/17
LEER
06/12/17
NO CHANGE
Target $90
LEER
Outperform
Eli Lilly price target lowered to $90 from $93 at Leerink
Leerink analyst Seamus Fernandez lowered his price target for Eli Lilly (LLY) to $90 to reflect reduced sales forecasts for baricitinib, an oral JAK1/2 inhibitor to treat rheumatoid arthritis which the company collaborates with Incyte (INCY). Following AbbVie's (ABBV) positive Phase 3 data last week for its JAK1 inhibitor upadacitinib, Fernandez dropped his U.S. peak sales estimate for baricitinib by more than 50% to $400M and pushed out his U.S. launch time to 2020 from 2018. The analyst keeps an Outperform rating on Lilly shares.
ABBV AbbVie
$72.63

0.75 (1.04%)

06/22/17
SOCG
06/22/17
UPGRADE
SOCG
Buy
AbbVie upgraded to Buy from Hold at Societe Generale
06/12/17
RHCO
06/12/17
NO CHANGE
RHCO
AbbVie should be bought on weakness, says SunTrust
SunTrust analyst John Boris says that AbbVie should be bought on weakness after the USPTO invalidated two of the company's patents for Humira. The analyst says that the ruling "makes a small dent" in the company's IP for Humira, as he notes that the company has more than 100 patents for the drug. He thinks that Humira biosimilars will enter the market later than the Street expects. Boris, maintaining that the company has over a dozen pipeline catalysts this year, recommends buying the shares on weakness.
06/22/17
LEER
06/22/17
NO CHANGE
LEER
Leerink sees reasons for biotech rally to continue
Leerink analyst Geoffrey Porges attributes the recent strength in the biotech sector to a lessening of the perceived fears of pricing regulations and a favorable tone from the FDA. However, he believes the sector could advance at least 15% more, as he foresees more positive operating results and still expects more industry consolidation. Among large cap biotech names, Porges maintains Outperform ratings on Regeneron (REGN), Celgene (CELG), Vertex (VRTX) and Alexion(ALXN) and keeps Market Perform ratings on AbbVie (ABBV), Amgen (AMGN), Gilead (GILD) and Biogen (BIIB).

TODAY'S FREE FLY STORIES

MET

MetLife

$54.65

0.07 (0.13%)

18:20
07/21/17
07/21
18:20
07/21/17
18:20
Periodicals
U.S. regulators to go over MetLife suit at July 28 meeting, Reuters says »

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OTEX

OpenText

$33.06

-0.02 (-0.06%)

, COVS

Covisint

18:11
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07/21
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18:11
Hot Stocks
OpenText says Covisint proposal shows 'compelling' overall value »

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OpenText

$33.06

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Covisint

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TOSBF

Toshiba, also use TOSYY

$2.47

0.1002 (4.23%)

, TOSYY

Toshiba, also use TOSBF

$14.90

0.8 (5.67%)

17:39
07/21/17
07/21
17:39
07/21/17
17:39
Periodicals
Toshiba sees bringing in about $360 in profit from Landis+Gyr IPO, Nikkei says »

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TOSBF

Toshiba, also use TOSYY

$2.47

0.1002 (4.23%)

TOSYY

Toshiba, also use TOSBF

$14.90

0.8 (5.67%)

03/08/13
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MON

Monsanto

$117.38

0.37 (0.32%)

17:38
07/21/17
07/21
17:38
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17:38
Periodicals
Breaking Periodicals news story on Monsanto »

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FSFG

First Savings Financial Group

$53.02

0.095 (0.18%)

17:34
07/21/17
07/21
17:34
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17:34
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First Savings Financial Group , First National Bank of Odon to merge »

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NAUH

National American University

$2.36

-0.0236 (-0.99%)

17:26
07/21/17
07/21
17:26
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17:26
Hot Stocks
National American University to acquire H-PU, terms not disclosed »

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QEP

QEP Resources

$9.22

-0.27 (-2.85%)

17:25
07/21/17
07/21
17:25
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17:25
Hot Stocks
QEP Resources names Mary Shafer-Malicki to board of directors »

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  • 27

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CLSN

Celsion

$1.85

-0.07 (-3.65%)

17:18
07/21/17
07/21
17:18
07/21/17
17:18
Syndicate
Celsion files to sell 4.87M shares of common stock for holders »

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REED

Reed's

16:54
07/21/17
07/21
16:54
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16:54
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Breaking Hot Stocks news story on Reed's »

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UBA

Urstadt Biddle

$20.86

0.28 (1.36%)

, UBP

Urstadt Biddle Properties Inc.

$18.50

0.721 (4.06%)

16:53
07/21/17
07/21
16:53
07/21/17
16:53
Hot Stocks
Urstadt Biddle Properties acquires Waldwick Plaza in Waldwick, NJ »

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UBA

Urstadt Biddle

$20.86

0.28 (1.36%)

UBP

Urstadt Biddle Properties Inc.

$18.50

0.721 (4.06%)

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PRGO

Perrigo

$76.21

0.7 (0.93%)

16:51
07/21/17
07/21
16:51
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16:51
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Perrigo board suspends CFO search during CEO search »

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KKR

KKR

$19.38

0.07 (0.36%)

, ENTL

Entellus Medical

$17.03

-0.71 (-4.00%)

16:47
07/21/17
07/21
16:47
07/21/17
16:47
Hot Stocks
Breaking Hot Stocks news story on KKR, Entellus Medical »

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KKR

KKR

$19.38

0.07 (0.36%)

ENTL

Entellus Medical

$17.03

-0.71 (-4.00%)

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  • 27

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CAG

Conagra Brands

$33.88

0.13 (0.39%)

16:43
07/21/17
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16:43
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16:43
Syndicate
Breaking Syndicate news story on Conagra Brands »

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AKS

AK Steel

$6.20

-0.26 (-4.02%)

16:32
07/21/17
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16:32
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AK Steel to increase prices for carbon flat-rolled steel products »

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16:30
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16:30
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Options
Preliminary option volume of 19.1M today »

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GE

General Electric

$25.91

-0.78 (-2.92%)

, MSFT

Microsoft

$73.79

-0.43 (-0.58%)

16:27
07/21/17
07/21
16:27
07/21/17
16:27
General news
On The Fly: Top stock stories for Friday »

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GE

General Electric

$25.91

-0.78 (-2.92%)

MSFT

Microsoft

$73.79

-0.43 (-0.58%)

V

Visa

$99.60

1.49 (1.52%)

MNT

Mentor

AMPH

Amphastar

$18.45

0.53 (2.96%)

COF

Capital One

$87.94

6.93 (8.55%)

ATHN

athenahealth

$155.93

12.13 (8.44%)

SYF

Synchrony

$30.87

1.34 (4.54%)

PLUG

Plug Power

$2.44

0.32 (15.09%)

WMT

Wal-Mart

$76.15

0.13 (0.17%)

EBAY

eBay

$36.61

-0.57 (-1.53%)

NCR

NCR Corp.

$39.43

-3.55 (-8.26%)

MANH

Manhattan Associates

$43.15

-4.28 (-9.02%)

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TERP

TerraForm Power

16:26
07/21/17
07/21
16:26
07/21/17
16:26
Earnings
TerraForm Power reports Q4 net income loss $135M vs loss of $156M in Q415 »

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JPM

JPMorgan

$90.89

-0.31 (-0.34%)

16:22
07/21/17
07/21
16:22
07/21/17
16:22
Periodicals
U.S. drops charges against ex-JPMorgan traders in 'London Whale' case, CNBC says »

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CMG

Chipotle

$345.34

-10.71 (-3.01%)

16:20
07/21/17
07/21
16:20
07/21/17
16:20
Periodicals
Chipotle holder sues company after latest food scare, Bloomberg says »

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  • 25

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RPRX

Repros Therapeutics

$0.37

-0.0249 (-6.30%)

16:18
07/21/17
07/21
16:18
07/21/17
16:18
Syndicate
Breaking Syndicate news story on Repros Therapeutics »

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  • 26

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CARV

Carver Bancorp

$3.30

0.23 (7.49%)

16:17
07/21/17
07/21
16:17
07/21/17
16:17
Hot Stocks
Carver Bancorp receives Nasdaq letter of noncompliance »

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$NSD

NASDAQ Market Internals

16:17
07/21/17
07/21
16:17
07/21/17
16:17
Technical Analysis
NASDAQ market internals summary »

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CYH

Community Health

$9.27

0.01 (0.11%)

, HCA

HCA Holdings

$85.72

-0.04 (-0.05%)

16:16
07/21/17
07/21
16:16
07/21/17
16:16
Hot Stocks
Community Health to sell Sebring, Florida hospital to HCA Holdings »

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CYH

Community Health

$9.27

0.01 (0.11%)

HCA

HCA Holdings

$85.72

-0.04 (-0.05%)

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$NYE

NYSE Market Internals

16:16
07/21/17
07/21
16:16
07/21/17
16:16
Technical Analysis
NYSE market internals summary »

Volume was below average…

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MS

Morgan Stanley

$46.59

0.08 (0.17%)

16:14
07/21/17
07/21
16:14
07/21/17
16:14
Hot Stocks
Morgan Stanley CFO Pruzan sells 25.8K shares »

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