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CNCE

Concert Pharmaceuticals

$14.41

0.3 (2.13%)

, CELG

Celgene

$137.06

0.36 (0.26%)

07:14
08/08/17
08/08
07:14
08/08/17
07:14

Concert Pharmaceuticals reports Q2 EPS (58c) vs. (60c) last year

Reports Q2 revenue $15,000 vs. $71,000 last year. Revenue recognized in 2017 and 2016 is comprised of services performed by Concert (CNCE) in connection with its strategic collaborations with Celgene Corporation (CELG) and Jazz Pharmaceuticals (JAZZ). "We are very pleased that we have closed the CTP-656 asset purchase agreement with Vertex, which resulted in a payment to Concert of $160M in July. We believe our transaction with Vertex (VRTX) provides the optimal pathway to rapidly advance the development of CTP-656 for the benefit of cystic fibrosis patients," said Roger Tung, Ph.D., President and CEO. "The Vertex transaction significantly extends our cash runway and we expect the proceeds will allow us to advance CTP-543 into pivotal testing as well as broaden our proprietary development pipeline. We are excited about Concert's prospects, with our near-term focus on rapidly advancing CTP-543 through the Phase 2a trial for the treatment of alopecia areata. We are also assessing the potential to address additional autoimmune indications with CTP-543."

CNCE

Concert Pharmaceuticals

$14.41

0.3 (2.13%)

CELG

Celgene

$137.06

0.36 (0.26%)

JAZZ

Jazz Pharmaceuticals

$155.56

-0.04 (-0.03%)

VRTX

Vertex

$156.47

1.93 (1.25%)

  • 08

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    Sep

CNCE Concert Pharmaceuticals
$14.41

0.3 (2.13%)

07/24/17
HCWC
07/24/17
INITIATION
Target $20
HCWC
Buy
Concert Pharmaceuticals initiated with a Buy at H.C. Wainwright
H.C. Wainwright analyst Andrew Fein started Concert Pharmaceuticals with a Buy rating, stating that recent lifting of a clinical hold on CTP-543 removed an overhang and cleared the path for Phase 2a readout next year. The analyst, who is bullish on the long-term potential of CTP-543 in alopecia areata, set a $20 price target on Concert shares.
03/07/17
STFL
03/07/17
NO CHANGE
STFL
Concert Pharmaceuticals shares can advance further, says Stifel
Stifel analyst Adam Walsh says that Concert's CTP-543 for alopecia areata "remains highly underappreciated by the Street." The analyst says that CTP-543 carries much less risk compared with a typical drug entering Phase 2, due to the 75% overall response rate it showed in a previous Phase 2 study. The analyst is optimistic that the latest Phase 2 results, due out by the end of the year, will be positive. He raised his price target on the shares to $31 from $21 and keeps a Buy rating on the stock.
05/17/17
STFL
05/17/17
NO CHANGE
Target $31
STFL
Buy
Resolution of Concert clinical hold should take quarter 'at most,' says Stifel
After Concert Pharmaceuticals announced that that FDA has placed the company's CTP-543 Phase 2 trial for alopecia areata on clinical hold, Stifel analyst Adam Walsh noted that no safety concerns were highlighted and that Concert already has the data of interest in-house, leading him to believe that the resolution of the hold will take a quarter "at most." The analyst, who still expects Concert to initiate and enroll the trial in 2017 and continues to project U.S. approval and launch in FY20, recommends buying on weakness and keeps a Buy rating and $31 price target on Concert shares.
04/05/17
STFL
04/05/17
NO CHANGE
Target $31
STFL
Buy
Concert weakness a buying opportunity, says Stifel
Stifel analyst Adam Walsh said he believes the clinical tablet appearance issue that Concert Pharmaceuticals blamed for the delay in the start of its alopecia areata trial should be relatively easy to fix and only result in a minor delay. He continues to project U.S. approval and launch in FY20 and recommends shares be bought on related weakness. Walsh keeps a Buy rating and $31 price target on Concert shares.
CELG Celgene
$137.06

0.36 (0.26%)

07/28/17
STFL
07/28/17
INITIATION
STFL
Buy
Celgene coverage resumed with a Buy at Stifel
Stifel analyst Thomas Sharader resumed coverage of Celgene with a $155 price target and a Buy rating. He says that the company's Revlimid for multiple myeloma shows no sign of plateauing, and he thinks that its CAR-T programs "look interesting," while its Acceleron partnership "looks promising."
07/31/17
ARGS
07/31/17
UPGRADE
Target $160
ARGS
Buy
Celgene upgraded to Buy from Hold at Argus
Argus analysts David Toung and Annie Petrino upgraded Celgene to Buy with a $160 price target to reflect strong Q2 sales of Pomalyst and Otezla, which are providing additional growth drivers. The analysts said both products are gaining share, combined with new overseas markets, are helping Celgene reduce its overall reliance on Revlimid. The analysts raised Celgene earnings estimates for 2017 to 7.27 from $7.20 and 2018 to $8.65 from $8.35.
08/01/17
JANY
08/01/17
NO CHANGE
JANY
Neutral
Robust launch for Idhifa already reflected in Agios shares, says Janney Capital
Janney Capital analyst Debjit Chattopadhyay said he anticipates rapid adoption of Idhifa and expects a robust commercial launch led by Agios' (AGIO) partner Celgene (CELG), but he also believes this is reflected in the stock. The wholesale acquisition cost of $24,872 is significantly higher than Tesaro's (TSRO) Zejula and Clovis' (CLVS) Rubraca, noted Chattopadhyay, who added that the higher WAC and potentially longer median duration of therapy represents upside to his current estimates. He keeps a Neutral rating on Agios, which will receive a low double digit to mid teens royalty for Idhifa.
08/04/17
COWN
08/04/17
NO CHANGE
Target $150
COWN
Outperform
Celgene remains a top large-cap pick, says Cowen
Cowen analyst Eric Schmidt met with Celgene management and came away reiterating it as a top large cap pick. The analyst likes the commercial prospects for Revlimid and Otezla and received updates on key pipeline candidates that he believes will contribute to longer-term growth. Schmidt reiterated his Outperform rating and $150 price target on Celgene shares.
JAZZ Jazz Pharmaceuticals
$155.56

-0.04 (-0.03%)

08/03/17
BMOC
08/03/17
NO CHANGE
BMOC
Outperform
Vyxeos label an 'upside suprise' for Jazz, says BMO Capital
BMO Capital analyst Gary Nachman said the FDA approval of Jazz Pharmaceuticals' Vyxeos for "poor-prognosis" AML patients came "on the earlier side of expectations" and with the "upside surprise" that there are no age restrictions in the label indication. The analyst, who said he is still bullish on the prospects for Vyxeos, keeps an Outperform rating on Jazz shares.
06/07/17
PIPR
06/07/17
NO CHANGE
Target $182
PIPR
Overweight
Jazz's JZP-110 'clearly differentiated' from mainstays, says Piper Jaffray
Following the Phase III data for Jazz Pharmaceuticals' dopamine-norepinephrine reuptake inhibitor JZP-110 in patients with excessive daytime sleepiness associated with obstructive sleep apnea and narcolepsy, Piper Jaffray analyst David Amsellem says JZP-110 is "clearly differentiated from that of mainstay treatments Provigil and Nuvigil." The analyst views the stock's valuation as attractive and reiterates an Overweight rating on the shares with a $182 price target.
06/07/17
JPMS
06/07/17
NO CHANGE
JPMS
Overweight
Jazz Pharmaceuticals data beat investor expectations, says JPMorgan
JPMorgan analyst Jessica Fye believes full results from the Phase III JZP-110 narcolepsy and obstructive sleep apnea studies established a "compelling clinical profile" and beat investor expectations. JZP-110 represents a long-term growth driver outside of Xyrem, Fye tells investors in a research note. She believes the current valuation does not fully the double-digit growth she expects Jazz to generate over the next several years. The analyst reiterates an Overweight rating on the shares.
06/07/17
COWN
06/07/17
NO CHANGE
Target $190
COWN
Outperform
Cowen tells investors to be involved now in Jazz Pharmaceuticals
Cowen analyst Ken Cacciatore noted Jazz Pharmaceuticals presented positive Phase lll data on its drug candidate to treat daytime sleepiness and said the results were as good as could be hoped for. Given its efficacy/safety profile, he believes JZP-110 is "best-in-class" and likely a $750M product and recommends investors get involved now. Cacciatore reiterated his Outperform rating and $190 price target on Jazz Pharmaceuticals shares.
VRTX Vertex
$156.47

1.93 (1.25%)

07/19/17
07/19/17
DOWNGRADE
Target $174

Neutral
Vertex downgraded to Neutral on valuation after CF data jump at UBS
As previously reported, UBS analyst Carter Gould downgraded Vertex to Neutral from Buy, arguing that the valuation of its cystic fibrosis franchise appears "full" following the run-up in the stock on the heels of the company's data from Phase 1 and Phase 2 studies of three different triple combination regimen. Gould raised his price target on Vertex shares to $174 from $135, as he sees visibility for the CF franchise to approach $8B in revenue by the end of the 2020s.
07/27/17
OPCO
07/27/17
NO CHANGE
Target $175
OPCO
Outperform
Vertex price target raised to $175 from $150 at Oppenheimer
Oppenheimer analyst Hartaj Singh raised his price target for Vertex to $175 from $150 following Q2 results and business update to investors. The analyst continues to be bullish on Vertex and would urge investors that any potential sustained weakness should be a buying opportunity. Singh reiterates an Outperform rating on the shares.
07/19/17
07/19/17
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. Boeing (BA) upgraded to Neutral from Underperform at BofA/Merrill with analyst Ronald Epstein citing stronger free-cash-flow generatoin and the impact from large share buybacks. 2. Vertex (VRTX) upgraded to Buy from Neutral at Janney Capital, to Outperform from Market Perform at Raymond James and Cowen, and to Overweight from Equal Weight at Barclays. 3. Chipotle (CMG) upgraded to Outperform from Market Perform at Telsey Advisory with analyst Bob Derrington saying yesterday's pullback in shares, combined with management's more aggressive menu innovation plan, provides a buying opportunity. 4. TripAdvisor (TRIP) upgraded to Market Perform from Underperform at Cowen. 5. First Solar (FSLR) upgraded to Buy from Hold at Axiom with analyst Gordon Johnson II saying that his checks suggest the company has delayed its transition to Series 6 technology as it runs its Series 4 production lines longer to accommodate increased demand. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/19/17
UBSW
07/19/17
DOWNGRADE
UBSW
Neutral
Vertex downgraded to Neutral from Buy at UBS

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ORCL

Oracle

$46.29

-0.25 (-0.54%)

17:32
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WBA

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$64.61

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