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BIVV

Bioverativ

$50.76

-5.35 (-9.53%)

, RHHBY

Roche

$30.82

1.72 (5.91%)

18:08
11/20/17
11/20
18:08
11/20/17
18:08

Deutsche cuts Bioverativ target to $53 after positive Roche data

Deutsche Bank analyst Andrew Peters lowered his price target for Bioverativ (BIVV) to $53 from $65 and remains cautious on the shares following today's positive data from Roche's (RHHBY) Phase 3 study evaluating Hemlibra in noninhibitor hemophilia A patients. While full data is needed to better understand the clinical and competitive profile, the data reported today suggest Hemlibra will likely pressure the longevity and sustainability of Bioverativ's Eloctate franchise, Peters told investors earlier in a research note. The analyst reiterated a Hold rating on Bioverativ shares. The stock closed the trading day down 9.5% to $50.76. Shire (SHPG), another company with a hemophilia franchise, closed today down 4% to $141.37 while Roche rallied 6% to $30.82.

BIVV

Bioverativ

$50.76

-5.35 (-9.53%)

RHHBY

Roche

$30.82

1.72 (5.91%)

SHPG

Shire

$141.37

-6 (-4.07%)

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    Dec

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    Feb

BIVV Bioverativ
$50.76

-5.35 (-9.53%)

11/20/17
PIPR
11/20/17
NO CHANGE
Target $71
PIPR
Overweight
Piper a buyer of Bioverativ on Roche study selloff
Piper Jaffray analyst Christopher Raymond says he remains a buyer of Bioverativ (BIVV) after Roche (RHHBY) announced that its Haven 3 Phase III study met its primary endpoint. The analyst is waiting for the full data, expected in May, regarding absolute annualized bleed rates and consistency of effect. He remains confident in his forward estimates for Bioverativ's Eloctate and keeps an Overweight rating on the shares with a $71 price target. Absent full data detailing absolute annualized bleed rates for Roche's Hemlibra, it's difficult to draw too many conclusions on the relative efficacy compared to Eloctate in the non-inhibitor population, Raymond tells investors in a research note.
11/16/17
RBCM
11/16/17
NO CHANGE
RBCM
Top Pick
Roche approval neutral to slightly negative for Shire, says RBC Capital
RBC Capital analyst Douglas Miehm views the FDA approval for Roche's (RHHBY) Hemlibra as neutral to slight negative for Shire (SHPG). The approval comes three months early while the labeling for the hemophilia A drug contains a black box warning that severe blood clots may occur when Hemlibra is used with Feiba, Miehm tells investors in a research note. He believes investors will be "somewhat surprised" by the early timing of the approval but not surprised by the black box warning. He notes his estimates for Shire already reflect a 73% decline in inhibitor revenue from 2017 through 2025. Miehm keeps an Outperform rating on Shire. The stock in afternoon trading is up 5% to $146.66. Bioverativ (BIVV), another company with a hemophilia A treatment, is up 2% to $56.45.
10/27/17
PIPR
10/27/17
NO CHANGE
Target $71
PIPR
Overweight
Bioverativ selloff a 'golden' buying opportunity, says Piper Jaffray
Piper Jaffray analyst Christopher Raymond contends that "nothing" on Bioverativ's earnings call would warrant the 7% selloff in the stock today and he believes a "misinterpretation" of the company's guidance may be the culprit. The fact that management did not update guidance and consensus is above the company's stated growth projection has caused some to interpret this as an implicit warning with respect to Q4 revenue, but Raymond doesn't think "management could have made it any clearer that Q417 expectations are safe." He recommends taking advantage of today's weakness and maintains an Overweight rating on Bioverativ shares with a $71 price target.
10/23/17
PIPR
10/23/17
INITIATION
Target $71
PIPR
Overweight
Bioverativ assumed with an Overweight at Piper Jaffray
Piper Jaffray analyst Christopher Raymond assumed coverage of Bioverativ with an Overweight rating and increased price target of $71. The analyst views the valuation as compelling given the company's base business and "still-underappreciated upside" from recent acquisitions.
RHHBY Roche
$30.82

1.72 (5.91%)

11/20/17
BTIG
11/20/17
NO CHANGE
Target $242
BTIG
Buy
Shire selloff on Roche news seems overdone, says BTIG
BTIG analyst Timothy Chiang said today's weakness in Shire (SHPG) shares is overdone and creates a potential buying opportunity. While Roche's (RHBBY) emicizumab is likely to gain share at the expense of Shire's Advate, he does not expect a rapid conversion and thinks Shire's pipeline and platform seem overly discounted at current levels. Chiang has a Buy rating and $242 price target on Shire shares.
11/16/17
CANT
11/16/17
NO CHANGE
Target $222
CANT
Overweight
Roche's black box warning positive for Shire, says Cantor Fitzgerald
Cantor Fitzgerald analyst Louise Chen says the black box warning put on Roche's (RHHBY) Hemlibra by the FDA is a positive for Shire (SHPGY). The analyst believes the news supports her belief that concerns about competition for Shire's hemophilia franchise are overdone. Chen keeps an Overweight rating on Shire with a $222 price target. The stock in afternoon trading is up 4% to $146.13.
SHPG Shire
$141.37

-6 (-4.07%)

11/15/17
SUSQ
11/15/17
NO CHANGE
Target $225
SUSQ
Positive
Shire outlook remains underappreciated, says Susquehanna
Susquehanna analyst Andrew Finkelstein believes the outlook for Shire remain underappreciated. The analyst said the shares are trading at a low valuation and the company is well positioned for growth despite headwinds that are common across the sector. He sees growth accelerating and multiple levers to extend that runway. Finkelstein reiterated his Positive rating and $225 price target on Shire shares.

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