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LGND

Ligand

$118.65

-0.59 (-0.49%)

, AMGN

Amgen

$177.13

2.09 (1.19%)

09:05
07/17/17
07/17
09:05
07/17/17
09:05

Ligand enters into commercial license and supply agreement with Amgen

Ligand (LGND) announced that it has entered into a commercial license and supply agreement with Amgen (AMGN), granting rights to use Ligand's Captisol technology in the formulation of AMG 330. Captisol is a patent protected, chemically modified cyclodextrin with a structure designed to optimize the solubility and stability of drugs. AMG 330 is an anti-CD33 x anti-CD3 bispecific antibody construct. It is being investigated as a treatment for acute myeloid leukemia by Amgen.This license agreement replaces the prior research agreement which allowed Amgen to evaluate AMG 330 with Captisol in preclinical and early clinical studies. Under this new commercial license agreement, Amgen receives exclusive worldwide rights to combine Captisol with AMG 330 for use in humans for a wide variety of therapeutic indications. In addition to an upfront payment, Ligand is entitled to potential milestone payments, royalties and revenue from future sales of AMG 330 formulated using Captisol.

LGND

Ligand

$118.65

-0.59 (-0.49%)

AMGN

Amgen

$177.13

2.09 (1.19%)

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LGND Ligand
$118.65

-0.59 (-0.49%)

02/27/17
ROTH
02/27/17
INITIATION
Target $118
ROTH
Buy
Ligand reinitiated with a Buy at Roth Capital
Roth Capital analyst Scott Henry resumed coverage of Ligand Pharmaceuticals with a Buy rating and $118 price target, citing the combination of a "strong" base business, near-term new revenue generators, and a long-term pipeline.
02/15/17
SPHN
02/15/17
NO CHANGE
Target $125
SPHN
Overweight
Ending of Merck trial neutral to Ligand, says Stephens
Stephens analyst Drew Jones says that there could be some initial weakness in Ligand's (LGND) shares due to the negative headline associated with Merck (MRK) stopping one of the trials for its BACE inhibitor, but expects this to be short lived. The analyst says the success with Merck's BACE inhibitor is not a part of his positive thesis as he continue to see multiple potential commercial, clinical, and regulatory catalysts for Ligand throughout 2017. He reiterates an Overweight rating and $125 price target on Ligand's shares.
11/07/16
SPHN
11/07/16
NO CHANGE
Target $125
SPHN
Overweight
Ligand price target lowered to $125 from $150 at Stephens
Stephens analyst Drew Jones lowered his price target for Ligand to $125 from $150 on valuation. The analyst notes that the company reported mixed Q3 results as revenue softness led to lowered guidance for the year. Nonetheless, he reiterates an Overweight rating on the shares.
10/10/16
ROTH
10/10/16
NO CHANGE
Target $154
ROTH
Buy
Ligand price target raised to $154 after Carnexiv approval at Roth Capital
Roth Capital analyst Joseph Pantginis raised his price target on Ligand to $154 from $150 after partner Lundbeck announced that the FDA approved Carnexiv injection as a short-term replacement therapy for oral carbamazepine formulations in adults with certain seizure types. Ligand will receive a $1.25M milestone payment this quarter and is entitled to receive a 2.75% royalty on sales of the drug, noted Pantginis, who keeps a Buy rating on Ligand shares.
AMGN Amgen
$177.13

2.09 (1.19%)

07/17/17
JEFF
07/17/17
NO CHANGE
Target $195
JEFF
Buy
Amgen Complete Response Letter was expected, says Jefferies
Jefferies analyst Michael Yee says the FDA's Complete Response Letter for Amgen's Romosozumab in osteoporosis was expected. The indication is not in current consensus near-term estimates given the prior known imbalance in safety signal, Yee tells investors in a research note. He believes the drug could still be approved in 2018-2019 based on a good risk/benefit profile. The analyst has a Buy rating on Amgen with a $195 price target.
06/23/17
06/23/17
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. Starbucks (SBUX) initiated with an Overweight at KeyBanc. 2. Wix.com (WIX) initiated with an Outperform at Wedbush. 3. Red Hat (RHT) initiated with a Neutral at Piper Jaffray. 4. Amgen (AMGN) initiated with a Hold at Deutsche Bank. 5. Oclaro (OCLR) initiated with a Buy at DA Davidson. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/23/17
DBAB
06/23/17
INITIATION
Target $172
DBAB
Hold
Amgen initiated with a Hold at Deutsche Bank
Deutsche Bank analyst Andrew Peters started Amgen with a Hold rating and $172 price target, saying its valuation is largely in line with its near-term growth challenges.
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).

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ACRS

Aclaris Therapeutics

$29.18

-0.46 (-1.55%)

04:55
07/28/17
07/28
04:55
07/28/17
04:55
Conference/Events
Aclaris Therapeutics management to meet with Jefferies »

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04:55
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General news
Breaking General news story  »

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Consumer Sentiment Index to be reported at 10:00 »

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JAGX

Jaguar Animal Health

$0.66

-0.0175 (-2.58%)

04:55
07/28/17
07/28
04:55
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04:55
Conference/Events
Jaguar Animal Health to hold a conference call »

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04:55
07/28/17
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General news
GDP price index to be reported at 08:30 »

GDP price index will be…

CALM

Cal-Maine Foods

$38.05

0.55 (1.47%)

04:55
07/28/17
07/28
04:55
07/28/17
04:55
Conference/Events
Cal-Maine Foods participates in a conference call with Stephens »

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04:55
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General news
Real GDP to be reported at 08:30 »

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BAESY

BAE Systems

$32.23

0.145 (0.45%)

, IBM

IBM

$145.07

-0.29 (-0.20%)

04:55
07/28/17
07/28
04:55
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04:55
Conference/Events
RSA Security to hold a conference »

RSA Security Conference…

BAESY

BAE Systems

$32.23

0.145 (0.45%)

IBM

IBM

$145.07

-0.29 (-0.20%)

CTL

CenturyLink

$23.60

0.74 (3.24%)

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General news
Breaking General news story  »

Minneapolis Federal…

04:55
07/28/17
07/28
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General news
Employment Cost Index ECI to be reported at 08:30 »

Employment Cost Index ECI…

03:35
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03:35
General news
FX Action: USD-CAD steady after posting its biggest one-day gain »

FX Action: USD-CAD steady…

01:40
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01:40
General news
FX Update: The Swiss franc tumbled for a four straight session »

FX Update: The Swiss…

TOO

Teekay Offshore Partners

$2.55

-0.03 (-1.16%)

20:27
07/27/17
07/27
20:27
07/27/17
20:27
Downgrade
Teekay Offshore Partners rating change at Raymond James »

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QEP

QEP Resources

$7.93

-1.34 (-14.46%)

20:26
07/27/17
07/27
20:26
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20:26
Downgrade
QEP Resources rating change at JPMorgan »

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RDFN

Redfin

20:26
07/27/17
07/27
20:26
07/27/17
20:26
Syndicate
Redfin 9.231M share IPO priced at $15.00 »

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XOM

Exxon Mobil

$80.83

0.46 (0.57%)

, CVX

Chevron

$106.11

0.99 (0.94%)

20:25
07/27/17
07/27
20:25
07/27/17
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

XOM

Exxon Mobil

$80.83

0.46 (0.57%)

CVX

Chevron

$106.11

0.99 (0.94%)

MRK

Merck

$63.69

1.89 (3.06%)

ABBV

AbbVie

$71.73

-0.86 (-1.18%)

AAL

American Airlines

$50.00

-1.01 (-1.98%)

COL

Rockwell Collins

$109.02

-0.53 (-0.48%)

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TTPH

Tetraphase

$6.96

-0.92 (-11.68%)

20:22
07/27/17
07/27
20:22
07/27/17
20:22
Syndicate
Tetraphase 10M share Secondary priced at $6.50 »

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BVN

Buenaventura

$12.45

0.1 (0.81%)

19:26
07/27/17
07/27
19:26
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19:26
Earnings
Buenaventura reports Q2 EPS (2c), may not compare to consensus 26c »

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BAS

Basic Energy

$28.67

0.06 (0.21%)

19:02
07/27/17
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19:02
Hot Stocks
Breaking Hot Stocks news story on Basic Energy »

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BAS

Basic Energy

$28.67

0.06 (0.21%)

19:01
07/27/17
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19:01
Earnings
Basic Energy reports Q2 adjusted EPS (57c), consensus (55c) »

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GE

General Electric

$25.79

0.2 (0.78%)

18:55
07/27/17
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18:55
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18:55
Periodicals
Breaking Periodicals news story on General Electric »

Uber CEO shortlists…

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AIV

Aimco

$44.01

0.13 (0.30%)

18:53
07/27/17
07/27
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Earnings
Aimco reports Q2 AFFO 51c vs 50c last year »

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NOV

National Oilwell

$33.71

0.37 (1.11%)

18:43
07/27/17
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18:43
Earnings
National Oilwell reports Q2 adjusted EPS (14c), consensus (15c) »

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AIG

AIG

$65.17

-0.02 (-0.03%)

, IEP

Icahn Enterprises

$53.12

-0.78 (-1.45%)

18:39
07/27/17
07/27
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18:39
Periodicals
Senators worried over whether Icahn is pushing regulators on AIG, Reuters says »

U.S. Democratic Senators…

AIG

AIG

$65.17

-0.02 (-0.03%)

IEP

Icahn Enterprises

$53.12

-0.78 (-1.45%)

PRU

Prudential

$112.74

0.55 (0.49%)

03/08/13
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HTBK

Heritage Commerce

$13.85

-0.14 (-1.00%)

18:24
07/27/17
07/27
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Earnings
Heritage Commerce reports Q2 EPS 19c, consensus 19c »

Reports Q2 NII $24.9M,…

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