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LLY

Eli Lilly

$83.51

0.38 (0.46%)

, INCY

Incyte

$105.08

-1.43 (-1.34%)

17:17
11/05/17
11/05
17:17
11/05/17
17:17

Patients treated with Eli Lilly/Incyte Baricitinib reported greater improvements

Eli Lilly (LLY) and Incyte (INCY) announced that patients with moderate-to-severe rheumatoid arthritis treated with baricitinib reported greater improvements in pain control when compared to AbbVie's (ABBV) Humira or placebo. A new post-hoc analysis of the Phase 3 RA-BEAM study disclosing outcomes of patient-reported levels of pain control will be presented at the American College of Rheumatology/Association of Rheumatology Health Professionals Annual Meeting in San Diego, Calif. RA-BEAM was a 52-week trial of 1,305 patients who had active, moderate-to-severe RA, despite ongoing treatment with methotrexate. Patients were randomized to placebo once daily, baricitinib 4 mg once daily or adalimumab 40 mg biweekly. All patients received background methotrexate. This post-hoc analysis reviewed outcomes of patient-reported levels of pain control during the first 24 weeks of the trial as measured by a 0-100 mm visual analog scale during each study visit. Analyses were not adjusted for multiplicity, were exploratory in nature and further research should be conducted to confirm these results. Analysis of reduction in pain included an assessment of the time required to achieve greater than or equal to 30%, greater than or equal to 50% and greater than or equal to 70% pain improvement. The observed safety profile in RA-BEAM was consistent with previous trials evaluating baricitinib. The percentage of patients stopping therapy due to adverse events through Week 24 were 3% in placebo, 5% in baricitinib and 2% in the adalimumab group. Serious adverse event rates through 24 weeks were similar with placebo and baricitinib and lower with adalimumab. No additional safety signals were observed during the post-hoc analysis. Lilly plans to resubmit the New Drug Application with the U.S. Food and Drug Administration for baricitinib as a treatment for adult patients with RA before the end of January 2018. Baricitinib is approved for the treatment of adult patients with RA in several geographies, including the European Union and Japan.

LLY

Eli Lilly

$83.51

0.38 (0.46%)

INCY

Incyte

$105.08

-1.43 (-1.34%)

ABBV

AbbVie

$92.31

1.29 (1.42%)

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    Dec

LLY Eli Lilly
$83.51

0.38 (0.46%)

10/10/17
10/10/17
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. HSBC (HSBC) downgraded to Underperform from Neutral at Credit Suisse with analyst Sanjay Jain citing valuation. 2. Jabil Circuit (JBL) downgraded to Sell from Neutral at Goldman Sachs with analyst Mark Delaney saying street expectations, which assume Jabil's earnings grow double digits year-over-year for both of the next two years, are overly optimistic. 3. Carlyle Group (CG) downgraded to Neutral from Buy at Citi with analyst William Katz citing valuation with the shares up 60% year-to-date. 4. Eli Lilly (LLY) downgraded to Neutral from Outperform at Credit Suisse with analyst Vamil Divan saying the valuation looks full with the shares up 13% since mid-August. 5. Ralph Lauren (RL) downgraded to Sell from Hold at Miller Tabak. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/16/17
JEFF
10/16/17
NO CHANGE
Target $115
JEFF
Buy
Jefferies ups price target on top global pick AbbVie to $115
Jefferies analyst Jeffrey Holford keeps AbbVie (ABBV) as his top global Pharmaceuticals pick for October, followed by Roche (RHHBY), Novartis (NVS), Bayer (BAYRY), Johnson & Johnson (JNJ), Eli Lilly (LLY) and GlaxoSmithKline (GSK). The analyst raised his price target for AbbVie shares to $115 from $107 and keeps a Buy rating on the name. Among his other target changes include bumping Eli Lilly's to $100 from $96.
10/18/17
SBSH
10/18/17
UPGRADE
Target $72
SBSH
Buy
Merck upgraded to Buy from Neutral at Citi
Citi analyst Andrew Baum upgraded Merck (MRK) to Buy and raised his price target for the shares to $72 from $65. The healthcare giant closed yesterday down 12c to $63.22. While Merck's non-Keytruda business continues to erode, the market is undervaluing both the ultimate patient derived xenograft market size and Merck's likely market share with Keytruda, Baum tells investors in a research note. The analyst revised his initial PDx market estimates of $35bn to at least $50bn and increased his 2025 Keytruda forecasts from $9B to$15B. The analyst prefers Eli Lilly (LLY), Bristol-Myers (BMY) and Merck among the U.S. pharmaceutical majors. He also downgraded Roche (RHHBY) this morning to Neutral.
10/24/17
PIPR
10/24/17
NO CHANGE
Target $107
PIPR
Overweight
Eli Lilly Humalog fears overblown, says Piper Jaffray
Piper Jaffray analyst Richard Purkiss attributes Eli Lilly's (LLY) post-earnings decline to further anxiety around price competition in the U.S. diabetes segment after the company said on its earnings call that it will not challenge Sanofi's (SNY) biosimilar for Humalog. However, he sees these concerns as substantially overdone, pointing to the 39% year-over-year growth reported in Q3 for the diabetes franchise, and view today's pullback as a clear buying opportunity. Purkiss keeps an Overweight rating on Eli Lilly and raised his price target on the stock to $107 from $105.
INCY Incyte
$105.08

-1.43 (-1.34%)

10/09/17
LEER
10/09/17
NO CHANGE
LEER
Leerink not worried about JAK safety, AbbVie '494 profile so far 'ok'
Leerink analyst Geoffrey Porges notes that the delayed approval of Incyte (INCY)/Eli Lilly (LLY) baricitinib and the reported thromboembolic events in AbbVie's (ABBV) ABT494/upadacitinib trials have called into question the safety of oral Janus kinase, or JAK, inhibitors. The analyst says that his detailed review of the safety literature suggests that these medicines offer an acceptable risk/benefit profile for serious inflammatory diseases and do not confer a significant increase in cardiovascular risk or venous thromboembolic events. Further, Porges continues to believe AbbVie's upadacitinib and Gilead's (GILD) filgotinib will be approved for serious inflammatory diseases such as rheumatoid arthritis and inflammatory bowel disease, and will capture the majority share of his peak risk-adjusted $12B estimated JAK market.
10/31/17
BMOC
10/31/17
NO CHANGE
Target $166
BMOC
Outperform
Incyte price target raised to $166 from $162 at BMO Capital
11/03/17
STFL
11/03/17
NO CHANGE
Target $25
STFL
Buy
NewLink Genetics price target lowered to $25 from $29 at Stifel
Stifel analyst Stephen Willey trimmed his price target on NewLink Genetics (NLNK) to $25 from $29 to reflect incremental dilution from its recent equity fundraising and forecast for increased operating expenses given that the company will soon initiate its pivotal Phase 3 melanoma trial. The analyst, who expects NewLink shares to remain sensitive to near-term data points on the IDO inhibitor front from Bristol-Myers (BMY) and the partnership of Incyte (INCY) and Merck (MRK), keeps a Buy rating on NewLink shares.
10/25/17
LEER
10/25/17
NO CHANGE
LEER
Outperform
MacroGenics MGA012 license to Incyte 'logical deal,' says Leerink
Leerink analyst Michael Schmidt notes that MacroGenics (MGNX) and Incyte (INCY) announced that the two companies have entered into an exclusive global collaboration and license agreement for the former's MGA012, an antiPD1 antibody currently in Phase I clinical development. This analyst says that the deal reinforces his view that MacroGenics' R&D engine and broad pipeline provide for a rich set of development and business development opportunities not currently reflected in the stock. He reiterates an Outperform rating on MacroGenics' shares.
ABBV AbbVie
$92.31

1.29 (1.42%)

10/27/17
PIPR
10/27/17
NO CHANGE
Target $115
PIPR
Overweight
AbbVie price target raised to $115 from $102 at Piper Jaffray
Piper Jaffray analyst Richard Purkiss raised his price target for AbbVie to $115 saying he continues to see "substantial" upside in the shares following the company's Q3 results. The analyst, citing AbbVie's growing hematology/oncology business and a "rejuvenated" hepatitis c virus franchise, reiterates an Overweight rating on the shares.
10/30/17
LEER
10/30/17
NO CHANGE
Target $107
LEER
Outperform
AbbVie new long-term guidance could give stock 'legs to run,' says Leerink
Leerink analyst Geoffrey Porges notes that AbbVie reported Q3 financial results that were in-line with expectations. The biggest surprise from management's update was the confidence in their late stage immunology and oncology assets, forecasting that at least three of these clinical stage products will achieve 2025 revenue of $5B or greater, he contends. The analyst reiterates an Outperform rating on the stock, while lowering his price target on the shares to $107 from $107, and says he still anticipates "significant upside" emerging from late stage pipeline programs being de-risked in the next 1-3 quarters.
10/30/17
RHCO
10/30/17
NO CHANGE
Target $105
RHCO
Buy
AbbVie price target raised to $105 from $95 at SunTrust
SunTrust analyst John Boris raised his price target on Abbvie to $105 and maintained his Buy rating. Boris is modeling an $80M increase in sales of Humira as well as the Mavyret global HCV rollout and the pre-launch plans for its Elagolix, Rova-T, UPAD and RISA pipeline. The analyst also notes that Abbvie CEO is delivering on his long-term strategic plan, with best-in-class growth rates.
10/26/17
PIPR
10/26/17
NO CHANGE
Target $102
PIPR
Overweight
AbbVie trials point to 'remarkable' efficacy of risankizumab, says Piper Jaffray
After AbbVie announced that three Phase 3 studies of risankizumab in moderate to severe plaque psoriasis all met their co-primary and secondary endpoints, Piper Jaffray analyst Richard Purkiss said the drug showed "remarkable efficacy" and demonstrates a substantial improvement in skin clearance over competing products. He views risankizumab, with this clinical data, as a compelling opportunity and keeps an Overweight rating and $102 price target on AbbVie shares.

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