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ESRX

Express Scripts

$61.82

0.82 (1.34%)

, NVS

Novartis

$85.01

-0.77 (-0.90%)

14:41
09/21/17
09/21
14:41
09/21/17
14:41

Express Scripts CMO discusses 'great promise, big price' of gene therapy

In a post to the corporate blog of Express Scripts (ESRX), Chief Medical Officer Steve Miller discussed the "new models for collaboration" he sees being needed among payers, pharmaceutical companies, and pharmacy benefit managers in the wake of the FDA's recent approval of America's first commercial gene therapy, Novartis' (NVS) Kymriah CAR-T gene therapy for patients with a rare and deadly cancer. In the blog, Miller writes: "The price is $475,000 - lower than the $600,000 to $750,000 that some analysts expected, but still dramatically higher than other specialty drugs...Pharmaceutical companies have a single opportunity per patient to get paid. And many gene therapies target extremely rare diseases, so there aren't many patients to share the cost drug makers require to justify the expense of research, development and commercialization. The result is very high price tags...The health care system isn't set up for this type of economic model...As these life-saving and revolutionary treatments continue to be developed, it is up to payers, pharma companies and policymakers to unite and ensure they reach patients. Express Scripts stands ready to do its part." Reference Link

ESRX

Express Scripts

$61.82

0.82 (1.34%)

NVS

Novartis

$85.01

-0.77 (-0.90%)

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ESRX Express Scripts
$61.82

0.82 (1.34%)

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.
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.
09/14/17
LEER
09/14/17
NO CHANGE
LEER
Minimal hurricane exposure for pharma supply chain, says Leerink
Leerink analyst David Larsen sees less than 1% impact to revenues and earnings to companies in his coverage from Hurricane Harvey and Irma and believes any effects will be viewed as one-time in nature. The analyst notes that "the percentage of state impacted" and "days of impact" are particularly challenging variables in his model to estimate, but based on various assumptions he believes the hurricanes will prove to be a minor event for Express Scripts (ESRX), AmerisourceBergen (ABC), Cardinal Health (CAH), and McKesson (MCK). Nonetheless, Larsen says pharmacy retailers Walgreens Boots Alliance (WBA) and CVS Health (CVS) may face some store closures and possible damage costs.
09/19/17
RBCM
09/19/17
INITIATION
RBCM
Sector Perform
Express Scripts initiated with a Sector Perform at RBC Capital
RBC Capital analyst George Hill started coverage of Express Scripts (ESRX) with a $68 price target and a Sector Perform rating. The analyst says that the company "faces an uncertain future" in the wake of the loss of its deal with Anthem ( ANTM), as he believes that it will have difficulty generating operating profit growth without Anthem.
NVS Novartis
$85.01

-0.77 (-0.90%)

07/26/17
07/26/17
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. Chipotle (CMG) upgraded to Hold from Underperform at Jefferies with analyst Andy Barish saying the current valuation and consensus estimates "now reflect the reality" of Chipotle's path to recovery. 2. Biogen (BIIB) upgraded to Buy from Neutral at Goldman Sachs with analyst Terence Flynn saying the company's balance sheet is under-levered, which provides flexibility, while Aducanumab provides Alzheimer's optionality. 3. DSW (DSW) upgraded to Outperform from Neutral at Wedbush with the firm saying it is more confident that second quarter results will beat expectations and that the company will reiterate its full-year guidance after conducting checks and speaking with the company. 4. Electronic Arts (EA) upgraded to Buy from Neutral at BofA/Merrill with analyst Justin Post citing a strong fiscal 2019 outlook. 5. Novartis (NVS) upgraded to Overweight from Underweight at Morgan Stanley with analyst Vincent Meunier upgrading the company two notches to Overweight from Underweight following a "massive" reset in consensus expectations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/29/17
CANT
08/29/17
NO CHANGE
Target $10
CANT
Overweight
Cantor positive on Amarin after Novartis study results
Cantor Fitzgerald analyst Louise Chen believes the Phase 3 CANTOS study results from Novartis (NVS) support the hypothesis that a long-term drug treatment focused on an anti-inflammatory mechanism in patients with a prior heart attack and inflammatory atherosclerosis can reduce cardiovascular events. In two Phase 3 trials, Amarin's (AMRN) Vascepa affected inflammatory markers including hsCRP and Lp-PLA2 while also improving lipid biomarkers, Chen tells investors in a research note. CANTOS and other recently reported studies help to increase her confidence in a positive and commercial outcome for Amarin's REDUCE-IT trial. The analyst has an Overweight rating on the shares with a $10 price target.
08/31/17
HCWC
08/31/17
NO CHANGE
Target $16
HCWC
Buy
Iovance 'fired another shot across the bow of CAR-Ts,' says H.C. Wainwright
The approval of Novartis' (NVS) Kymriah is a "major leap forward" for oncology and immunotherapy, but there remains "significant room for differentiated products," H.C. Wainwright analyst Joseph Pantginis tells investors in a research note on Iovance Biotherapeutics (IOVA) titled "Pins Set Up: Kite Acquired and Kymriah Approved; TILs Can Knock 'Em Down; Reiterate Buy." The analyst believes Iovance's TILs, or tumor infiltrating lymphocytes, could be significantly differentiated from CAR-Ts like Kymriah. He says the TIL platform has a "significantly" more benign safety profile relative to CAR-Ts and growing evidence that it could effectively target solid tumors, an area where he thinks CAR-Ts continue to struggle. Pantginis thinks Iovance "fired another shot across the bow of CAR-Ts" with last night's ESMO conference abstracts. The company released preliminary data that it can generate highly active TILs from lymphoma tumors, the analyst contends. He reiterates a Buy rating on Iovance with a $16 price target. The shares closed yesterday down 30c to $5.55.
08/31/17
MSCO
08/31/17
NO CHANGE
MSCO
Equal Weight
Gilead response to Kymriah pricing 'confusing,' says Morgan Stanley
Morgan Stanley analyst Matthew Harrison said Novartis' (NVS) pricing of its Kymriah therapy at $475,000 gross puts "some slight pressure" on his model for Juno Therapeutics (JUNO), though he doesn't see it as "that far out of line" with his expectations. While he said it makes sense that Juno saw some pressure yesterday after the pricing news and that bluebird bio (BLUE) closed the gap with Juno, he called Gilead's (GILD) strength yesterday "a bit more confounding" given that Gilead is focused on the same indication as Juno. However, initial DLBCL sales in 2018 for both Gilead and Novartis are likely to drive sentiment, so greater clarity won't be seen until then, added Harrison, who keeps an Equal Weight rating on Juno shares.

TODAY'S FREE FLY STORIES

CAR

Avis Budget

$39.94

-0.08 (-0.20%)

15:34
02/21/18
02/21
15:34
02/21/18
15:34
Options
Avis Budget options imply 12.5% move in share price post-earnings, above median historical move »

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VBTX

Veritex

$27.59

-0.48 (-1.71%)

15:33
02/21/18
02/21
15:33
02/21/18
15:33
Conference/Events
Veritex management to meet with Stephens »

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VBTX

Veritex

$27.59

-0.48 (-1.71%)

15:29
02/21/18
02/21
15:29
02/21/18
15:29
Conference/Events
Veritex management to meet with Stephens »

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OMER

Omeros

$11.37

0.36 (3.27%)

15:29
02/21/18
02/21
15:29
02/21/18
15:29
Periodicals
Omeros has 'plunging' Omidria sales, 'shaky' balance sheet, Feuerstein says »

Adam Feuerstein of STAT…

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TI

Telecom Italia

$8.84

-0.11 (-1.23%)

15:27
02/21/18
02/21
15:27
02/21/18
15:27
Hot Stocks
Telecom Italia says not involved in any anticompetitive behavior »

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KS

KapStone

$34.69

0.14 (0.41%)

15:24
02/21/18
02/21
15:24
02/21/18
15:24
Conference/Events
KapStone management to meet with Stephens »

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TCBK

TriCo Bancshares

$37.24

-0.76 (-2.00%)

15:19
02/21/18
02/21
15:19
02/21/18
15:19
Conference/Events
TriCo Bancshares management to meet with Stephens »

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AAOI

Applied Optoelectronics

$33.33

1.34 (4.19%)

15:19
02/21/18
02/21
15:19
02/21/18
15:19
Options
Applied Optoelectronics options imply 22.1% move in share price post-earnings, above median historical move »

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$NSD

NASDAQ Market Internals

15:17
02/21/18
02/21
15:17
02/21/18
15:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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SPY

SPDR S&P 500 ETF Trust

$272.87

1.47 (0.54%)

, SPX

S&P 500

15:16
02/21/18
02/21
15:16
02/21/18
15:16
Technical Analysis
Technical Take: S&P 500 retests lows of the day »

At time of writing the…

SPY

SPDR S&P 500 ETF Trust

$272.87

1.47 (0.54%)

SPX

S&P 500

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SPY

SPDR S&P 500 ETF Trust

$272.87

1.47 (0.54%)

, SPX

S&P 500

15:16
02/21/18
02/21
15:16
02/21/18
15:16
Technical Analysis
Technical Take: S&P 500 retests lows of the day »

At time of writing the…

SPY

SPDR S&P 500 ETF Trust

$272.87

1.47 (0.54%)

SPX

S&P 500

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$NYE

NYSE Market Internals

15:16
02/21/18
02/21
15:16
02/21/18
15:16
Technical Analysis
NYSE market internals summary »

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ABG

Asbury Automotive

$68.25

0.3 (0.44%)

15:15
02/21/18
02/21
15:15
02/21/18
15:15
Conference/Events
Asbury Automotive management to meet with Stephens »

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15:15
02/21/18
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15:15
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15:15
General news
Treasury Closing Summary: »

Treasury Closing Summary:…

WFC

Wells Fargo

$60.35

0.4 (0.67%)

15:10
02/21/18
02/21
15:10
02/21/18
15:10
Options
Notable call write in Wells Fargo »

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AZN

AstraZeneca

$34.09

0.45 (1.34%)

15:08
02/21/18
02/21
15:08
02/21/18
15:08
Hot Stocks
AstraZeneca announces renewed recommendation, availability of FLUMIST vaccine »

AstraZeneca announced…

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P

Pandora

$4.96

-0.375 (-7.04%)

15:04
02/21/18
02/21
15:04
02/21/18
15:04
Options
Pandora options imply 26.6% move in share price post-earnings, above median historical move »

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BA

Boeing

$358.70

5.35 (1.51%)

, EADSY

Airbus

$29.67

0.08 (0.27%)

15:03
02/21/18
02/21
15:03
02/21/18
15:03
Periodicals
Boeing displaces Airbus at Hawaiian, Leeham News and Comment says »

Boeing (BA) has displaced…

BA

Boeing

$358.70

5.35 (1.51%)

EADSY

Airbus

$29.67

0.08 (0.27%)

HA

Hawaiian Holdings

$37.35

-1.3 (-3.36%)

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  • 21

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NFLX

Netflix

$278.55

0.03 (0.01%)

15:03
02/21/18
02/21
15:03
02/21/18
15:03
Periodicals
Netflix and indie film makers Duplass Brothers in deal, Variety reports »

Variety reported earlier…

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MBT

Mobile TeleSystems

$12.66

0.49 (4.03%)

15:00
02/21/18
02/21
15:00
02/21/18
15:00
Options
Call buyers in Mobile TeleSystems as shares reach 52-week highs »

Call buyers in Mobile…

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DPZ

Domino's Pizza

$223.26

1.77 (0.80%)

, QSR

Restaurant Brands

$59.54

0.31 (0.52%)

14:50
02/21/18
02/21
14:50
02/21/18
14:50
Periodicals
Restaurant Brands deal for Domino's 'likely,' 680 NEWS Toronto reporter says »

Richard Southern of 680…

DPZ

Domino's Pizza

$223.26

1.77 (0.80%)

QSR

Restaurant Brands

$59.54

0.31 (0.52%)

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ROKU

Roku

$51.18

3.05 (6.34%)

14:49
02/21/18
02/21
14:49
02/21/18
14:49
Options
Roku Inc (Class A Stock) options imply 26.4% move in share price post-earnings, below median historical move »

Pre-earnings options…

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CGG

CGG SA

$3.97

-0.24 (-5.70%)

14:45
02/21/18
02/21
14:45
02/21/18
14:45
Hot Stocks
Breaking Hot Stocks news story on CGG SA 

CGG SA trading resumes

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JPM

JPMorgan

$117.30

2.59 (2.26%)

14:45
02/21/18
02/21
14:45
02/21/18
14:45
Recommendations
JPMorgan analyst commentary  »

JPMorgan price target…

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    Oct

NGVT

Ingevity

$77.41

5.14 (7.11%)

14:42
02/21/18
02/21
14:42
02/21/18
14:42
Hot Stocks
Ingevity sees $1.5B in revenue, adjusted EBITDA $500M in 2022 »

Comments are from the…

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