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SGYP

Synergy Pharmaceuticals

$4.06

0.01 (0.25%)

, ESRX

Express Scripts

$62.90

0.57 (0.91%)

09:47
07/31/17
07/31
09:47
07/31/17
09:47

Synergy slides after Trulance excluded from Express Scripts formulary

As previously reported, Express Scripts (ESRX) released its 2018 National Preferred Formulary and noted that for the 2018 benefit year, it will introduce 64 new drug exclusions to the NPF. Among the drug's being excluded is Synergy Pharmaceuticals' (SGYP) Trulance, with Express Scripts noting Amitiza and Linzess as its preferred alternatives. In early trading, Synergy shares are down 18c, or 4.4%, to $3.88. Reference Link

SGYP

Synergy Pharmaceuticals

$4.06

0.01 (0.25%)

ESRX

Express Scripts

$62.90

0.57 (0.91%)

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SGYP Synergy Pharmaceuticals
$4.06

0.01 (0.25%)

06/02/17
06/02/17
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. Synergy Pharmaceuticals (SGYP) initiated with an Overweight at Cantor. 2. Fastenal (FAST) was initiated with an Overweight at Stephens and a Neutral at JPMorgan. 3. Ericsson (ERIC) was reinstated with a Buy at BofA/Merrill while Nokia (NOK) was reinstated with a Neutral. 4. John Bean Technologies (JBT) initiated with a Neutral at JPMorgan. 5. Biocept (BIOC) initiated with a Buy at Chardan. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/01/17
CANT
06/01/17
INITIATION
Target $11
CANT
Overweight
Synergy Pharmaceuticals initiated with an Overweight at Cantor
Cantor initiated Synergy Pharmaceuticals with an Overweight and an $11 price target.
04/06/17
SBSH
04/06/17
DOWNGRADE
Target $3.7
SBSH
Sell
Synergy Pharmaceuticals downgraded to Sell from Neutral at Citi
Citi analyst Liav Abraham downgraded Synergy Pharmaceuticals to Sell saying she sees downside over the next two years to both sales and operating income consensus estimates. The analyst believes the Trulance launch is likely to disappoint and that a takeover appears unlikely. Abraham cut her price target for Synergy shares to $3.70 from $6.50 after removing any takeover premium.
03/21/17
BTIG
03/21/17
NO CHANGE
Target $11
BTIG
Buy
Synergy Pharmaceuticals weakness a buying opportunity, says BTIG
BTIG analyst Timothy Chiang said weakness in Synergy Pharmaceuticals is a buying opportunity. The analyst said investor focus is now on the ramp for Trulance in the US market and he believes management is up to the task of successfully launching Trulance via its hybrid sales model which is expected to target approximately 27,000 high-prescribing physicians. Chiang rates Synergy a Buy with an $11 price target.
ESRX Express Scripts
$62.90

0.57 (0.91%)

07/28/17
WELS
07/28/17
NO CHANGE
Target $9
WELS
Underperform
Insurers are dropping Valeant's top products, says Wells Fargo
United Healthcare's (UNH) formulary is no longer covering Valeant Pharmaceuticals' (VRX) number three branded drug Solodyn and will also now exclude Retin-A brand, its number four branded drug, Wells Fargo analyst David Maris tells investors in a research note. The analyst estimates the two drugs represented approximately $214M of Valeant's sales in 2016. Maris also points out that Glumetza, Valeant's number eight branded drug, and Relistor were removed in July from CVS/Caremark's (CVS) formulary. These two drugs had approximately $119M in 2016 revenues. Maris notes his counterpart Peter Costa estimates that United Healthcare covers approximately 17% of the U.S. and CVS covers approximately 33%. Express Scripts (ESRX) is releasing its 2018 national formulary next week, Costa adds. Maris keeps an Underperform rating on shares of Valeant with a $9 price target. The stock in premarket trading is down 33c, or 2%, to $16.80.
06/27/17
BARD
06/27/17
NO CHANGE
Target $20
BARD
Outperform
Diplomat Pharmacy and entire supply chain have reimbursement risk, says Baird
Baird analyst Eric Coldwell noted Diplomat Pharmacy (DPLO) shares were lower yesterday based on a competitor's research note that suggested Express Scripts (ESRX) was cutting reimbursement in certain commercial plans and is kicking the tires on a DIR rollout in Part D. The analyst believes that would be not only negative for Diplomat but for all in the supply chain. The fact that others were not hit as hard is confusing to Coldwell, but he hopes for clarification from the company's IR day tomorrow. Coldwell maintained his Outperform rating and $20 price target on Diplomat Pharmacy shares.
06/26/17
COWN
06/26/17
NO CHANGE
Target $17
COWN
Market Perform
Diplomat shares 'overreacting' to potential DIR fee pressure, says Cowen
Cowen analyst Charles Rhyee noted his prior observation following meetings with Express Scripts (ESRX) that the company plans to be more aggressive with DIR fees. However, he estimates a maximum potential downside of $1.36 per Diplomat Pharmacy (DPLO) share in such a scenario, or a bit over 7% of Friday's closing price, making today's pullback an overreaction in his view. He keeps a Market Perform rating and $17 price target on Diplomat shares, which remain down about 8.5% at $16.82 but are well off their earlier lows.
06/13/17
WELS
06/13/17
NO CHANGE
Target $83.5
WELS
Outperform
Wells says Mallinckrodt exploring all options, including going private
After hosting CEO Mark Trudeau for an open Q&A session, Wells Fargo analyst David Maris says Mallinckrodt (MNK) continues to look at a range of strategic options to deliver shareholder value, and that all options, including going private, are on the table. Management did an "excellent job" in correcting the record following "erroneous" short-seller presentations, Maris tells investors in a research note. Management detailed Mallinckrodt's relationship with Express Scripts (ESRX) and explained that it is not strained, Maris writes. The analyst notes Trudeau spoke with Express Scripts CEO Timothy Wentworth a week ago about the relationship and that it seems "solid and mutually positive," despite recent negative comments about Acthar from the pharmacy benefit manager's Chief Medical Officer. Maris has an Outperform rating on Mallinckrodt with an $83.50 price target. The stock in premarket trading is up 2% to $42.40 as social media passes around Wells Fargo's comments about the company exploring all options, including going private. As the Wall Street Journal's Charley Grant points out on Twitter, Mallinckrodt said last month at a conference that it is exploring options to drive shareholder value.

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REGI

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INTC

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COL

Rockwell Collins

$124.29

0.6 (0.49%)

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WWR

Westwater Resources

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ZTO

ZTO Express

$14.01

0.11 (0.79%)

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ZTO

ZTO Express

$14.01

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URI

United Rentals

$112.44

4.04 (3.73%)

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Cummins

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$112.44

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CMI

Cummins

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MXIM

Maxim Integrated

$44.39

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Cree

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VNET

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RTNB

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$2.98

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Ultragenyx

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CRM

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MXIM

Maxim Integrated

$44.39

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CTIC

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UNM

Unum Group

$47.84

0.51 (1.08%)

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Salesforce

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THO

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21Vianet

$4.58

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RTNB

root9B Technologies

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