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ABBV

AbbVie

$89.22

0.75 (0.85%)

, CHRS

Coherus Biosciences

06:20
09/15/17
09/15
06:20
09/15/17
06:20

AbbVie price target raised to $100 from $85 at Piper Jaffray

Piper Jaffray analyst Richard Purkiss raised his price target for AbbVie (ABBV) to $100 after pushing out a U.S. biosimilar entry for Humira by two years. The recent denials by the Patent Trial and Appeal Board of all four of Coherus Bioscience's (CHRS) inter partes review petitions reinforce the patentability of Humira's formulation, Purkiss tells investors in a research note. The analyst pushed out his view of the likely timing of the first U.S. biosimilar launch versus Humira to the second half of 2022 from the second half of 2020. He estimates Humira will still account for 58% of AbbVie's total revenue in 2020. The analyst reiterates an Overweight rating on the shares.

ABBV

AbbVie

$89.22

0.75 (0.85%)

CHRS

Coherus Biosciences

  • 25

    Sep

  • 27

    Sep

ABBV AbbVie
$89.22

0.75 (0.85%)

09/08/17
CANT
09/08/17
NO CHANGE
Target $45
CANT
Overweight
Things keep getting better for Dermira, says Cantor
In a research note titled "Things Just Keep Getting Better Ahead of Stock Moving Catalysts In 2018," Cantor Fitzgerald analyst Louise Chen says she sees three things that may be driving Dermira (DERM) shares higher. New data which support and improve the commercial opportunity for Cimzia and DRM04, positive Phase 2b data from AbbVie's (ABBV) atopic dermatitis drug, which could help expand the market and the opportunity for Dermira's Lebrikizumab, and positive meetings with investors at a healthcare conference yesterday, Chen tells investors. The analyst keeps an Overweight rating on the shares with a $45 price target.
09/08/17
MAXM
09/08/17
NO CHANGE
MAXM
Coherus Biosciences price target lowered to $20 from $40 at Maxim
Maxim analyst Jason McCarthy cut his price target on Coherus (CHRS) after several petitions for Inter Partes review of AbbVie's (ABBV) Humira were denied. As a result of this development, the analyst thinks that Coherus may not be able to launch its CHS-1420 "for years" after its approval which he believes could come in 2019.
09/11/17
COWN
09/11/17
NO CHANGE
Target $95
COWN
Market Perform
AbbVie price target raised to $95 from $70 at Cowen
Cowen analyst Steve Scala raised his price target on Abbvie to $95 from $70 to reflect his raised estimates to account for higher Humira forecasts. The company received an important victory regarding an IPR targeting a Humira formulation, which he feels will allow Abbvie to hold Humira sales at least flat during 2020-2022. This has big bottom line implications, said Scala, who maintained his Market Perform rating on Abbvie shares.
09/13/17
RHCO
09/13/17
NO CHANGE
RHCO
AbbVie data increases confidence in RA opportunity, says SunTrust
SunTrust analyst John Boris says that data on AbbVie's (ABBV) UPAD for rheumatoid arthritis shows that its efficacy "appears competitive" with that of Pfizer's (PFE) Xeljanz/XR. The analyst says that the data increases his confidence in AbbVie's opportunity in RA. He keeps a $95 price target and a Buy rating on the shares.
CHRS Coherus Biosciences

06/12/17
LEER
06/12/17
NO CHANGE
Target $161
LEER
Market Perform
Amgen price target raised to $161 on Neulasta biosimilar delay at Leerink
Leerink analyst Geoffrey Porges noted that Coherus Biosciences (CHRS) received a complete response letter from the FDA for its biosimilar to Amgen's (AMGN) Neulasta, which he views as likely delaying its launch by at least a year. However, the "windfall" is offset by the Supreme Court decision that "effectively eliminates" the 6-month delay for biosimilars associated with notification, Porges tells investors. Based on his forecast for a six-month delay in the timing of a Neulasta biosimilar launch in the U.S., to the second quarter of 2018 from the fourth quarter of 2017, Porges increased his 2018 Amgen revenue forecast by $500M and raised his price target to $161 from $159, though he keeps a Market Perform rating on the stock.
06/13/17
FBCO
06/13/17
NO CHANGE
Target $24
FBCO
Outperform
Coherus price target lowered to $24 from $38 at Credit Suisse
Credit Suisse analyst Alethia Young lowered her price target on Coherus Biosciences to $24 from $38, stating that there is greater risk around the development path for its Neulasta biosimilar after the FDA's complete response letter. Young reiterates that she is "cautiously optimistic" the company can address issues over the next six months, though that makes this time period critical for CHS-1701. For now, she has decreased her probability of success for CHRS-1701 to 65% from 90% in U.S. and Europe, though she keeps an Outperform rating on Coherus shares.
07/10/17
KEYB
07/10/17
DOWNGRADE
KEYB
Sector Weight
Medpace downgraded to Sector Weight from Overweight at KeyBanc
KeyBanc analyst Donald Hooker downgraded Medpace Holdings (MEDP) to Sector Weight ahead of the Q2 earnings report citing valuation. The analyst also believes issues at "important" client Coherus Biosciences (CHRS) could adversely impact the relationship in the near term. Hooker views 2017 as a "rocky year" and recommends "temporarily" stepping to the sidelines with respect to Medpace shares.

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URG

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$0.72

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$1,293.32

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, ZG

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NSPR

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ODP

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10:15
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FAZ

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NINE

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  • 19

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COLD

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QRVO

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