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ABBV

AbbVie

$85.47

-1.105 (-1.28%)

15:27
09/26/17
09/26
15:27
09/26/17
15:27

AbbVie says will take one single digit price increase for 2018

AbbVie issued the following statement on drug pricing: "Statements made by AbbVie management about drug pricing have been incorrectly characterized in multiple sources. We evaluate specific pricing decisions on an annual basis, with careful consideration of a variety of factors. For 2018, AbbVie will take one single digit price increase and will continue to act responsibly with respect to drug pricing."

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    Nov

ABBV AbbVie
$85.47

-1.105 (-1.28%)

09/25/17
09/25/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Under Armour (UAA) downgraded to Neutral from Buy at Guggenheim. 2. VF Corp. (VFC) downgraded to Sector Weight from Overweight at KeyBanc with analyst Edward Yruma saying the company's "consistent" results are adequately reflected in the current valuation. 3. Quest Diagnostics (DGX) downgraded to Market Perform from Outperform at Raymond James with analyst Nicholas Jansen citing the preliminary 2018 Clinical Laboratory Fee Schedule, or CLFS, rates released Friday evening, which creates an overhang. 4. AbbVie (ABBV) downgraded to Neutral from Buy at UBS with analyst Marc Goodman saying that shares are up 40% year-to-date. 5. Albemarle (ALB) downgraded to Neutral from Outperform at Baird with analyst Ben Kallo saying he thinks near-term execution is largely priced into the stock and he believes the shares are fully valued at current levels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/25/17
JEFF
09/25/17
NO CHANGE
Target $200
JEFF
Buy
Jefferies explains how Amgen can re-rate higher like AbbVie
Jefferies analyst Michael Yee believes the 2018-2020 consensus estimates for Amgen (AMGN) may be too low if Mylan's (MYL) biosimilar of Neulasta doesn't get approved next month. The Biosimilar User Fee Act date is October 9. Investors may become more confident in the durability of Amgen's franchise given that AbbVie (ABBV) defended Humira and re-rated to a higher valuation, Yee tells investors in a research note. The key issue keeping Amgen's price-to-earnings multiple below peers at 12 to 13 times over the past couple of years is investor fear of biosimilars primarily against Neulasta and Enbrel, Yee argues. He sees a failed approval for Mylan as setting the tone for a higher multiple like AbbVie. The analyst has a Buy rating on Amgen shares with a $200 price target.
09/25/17
UBSW
09/25/17
DOWNGRADE
Target $92
UBSW
Neutral
AbbVie downgraded to Neutral from Buy at UBS
UBS analyst Marc Goodman downgraded AbbVie to Neutral with the shares up 40% year-to-date. Investors this year have gained more confidence in the duration of Humira and in the company's pipeline, Goodman tells investors in a research note. After pushing out his assumption for U.S. biosimilar competition for Humira to 2022 from 2021, the analyst raised his price target for AbbVie shares to $92 from $79. Goodman, however, no longer sees enough upside to warrant a Buy rating. AbbVie closed Friday up 7c to $87.48.
09/21/17
UBSW
09/21/17
NO CHANGE
Target $500
UBSW
Buy
Regeneron price target lowered to $500 from $535 at UBS
UBS analyst Carter Gould lowered his price target on Regeneron (REGN) to $500 from $535 citing increased Dupixent competition after Amgen (AMGN) and AstraZeneca (AZN) reported data on their own asthma drug earlier this month and AbbVie (ABBV) reported results in an atopic dermatitis study. While he noted that definitive 12-month phase 3 data from these competitors is likely more than 20 months away, he also lowered his Dupixent peak sales estimate to $4.8B from $6.5B. He keeps a Buy rating on Regeneron shares, as he believes pipeline products including nesvacumab and REGN2810 offer a path to longer-term upside.

TODAY'S FREE FLY STORIES

NAVI

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0.8 (1.47%)

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CMG

Chipotle

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8.91 (2.78%)

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  • 24

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UNH

UnitedHealth

$203.89

10.69 (5.53%)

, AMZN

Amazon.com

$1,009.13

2.79 (0.28%)

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Amazon.com

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AAN

Aaron's

$41.55

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  • 27

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BMTC

Bryn Mawr Bank

$44.50

-0.1 (-0.22%)

, FCF

First Commonwealth

$13.94

-0.26 (-1.83%)

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BMTC

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FCF

First Commonwealth

$13.94

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ONB

Old National Bancorp

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HCC

Warrior Met Coal

$24.04

0.51 (2.17%)

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MOH

Molina Healthcare

$61.54

1.68 (2.81%)

, UNH

UnitedHealth

$203.89

10.69 (5.53%)

07:13
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Health insurers prepare for enrollment drop amid ACA uncertainty, WSJ says »

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MOH

Molina Healthcare

$61.54

1.68 (2.81%)

UNH

UnitedHealth

$203.89

10.69 (5.53%)

CNC

Centene

$93.80

2.88 (3.17%)

WCG

WellCare

$174.03

6.11 (3.64%)

CI

Cigna

$187.20

2.21 (1.19%)

ANTM

Anthem

$187.26

3.5 (1.90%)

HNT

Health Net

HUM

Humana

$240.43

3.26 (1.37%)

AET

Aetna

$155.90

4.46 (2.95%)

EHTH

eHealth

$23.79

-0.61 (-2.50%)

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IBM

IBM

$146.54

-0.29 (-0.20%)

07:12
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  • 22

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NVO

Novo Nordisk

$49.31

-0.01 (-0.02%)

07:12
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Conference/Events
FDA Endocrinologic & Metabolic Drugs Advisory Committee to hold a meeting »

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  • 18

    Oct

TSLA

Tesla

$355.75

5.15 (1.47%)

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  • 06

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ATTU

Attunity

$6.90

0.12 (1.77%)

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MYGN

Myriad Genetics

$35.84

-0.26 (-0.72%)

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MAIN

Main Street

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JNJ

Johnson & Johnson

$140.79

4.67 (3.43%)

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IONS

Ionis Pharmaceuticals

$63.85

2.7 (4.42%)

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LRCX

Lam Research

$194.55

2.19 (1.14%)

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IMRN

Immuron

$5.03

0.1 (2.03%)

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BLRX

BioLineRx

$1.09

-0.065 (-5.63%)

, RHHBY

Roche

$31.45

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$1.09

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RHHBY

Roche

$31.45

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CEVA

CEVA

$45.40

0.1 (0.22%)

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  • 01

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LRCX

Lam Research

$194.55

2.19 (1.14%)

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TTOO

T2 Biosystems

$4.21

-0.05 (-1.17%)

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  • 02

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HNHPF

Hon Hai Precision

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BRO

Brown & Brown

$49.01

0.04 (0.08%)

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