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GSK

GlaxoSmithKline

$35.06

0.25 (0.72%)

, INVA

Innoviva

$13.42

0.01 (0.07%)

07:56
11/23/17
11/23
07:56
11/23/17
07:56

GSK, Innoviva submit data to FDA for expanded Trelegy Ellipta label

GlaxoSmithKline (GSK) and Innoviva (INVA) announced the filing of a supplemental New Drug Application with the FDA for the use of Trelegy Ellipta for an expanded indication for the maintenance treatment of airflow obstruction and reduction of exacerbations in patients with chronic obstructive pulmonary disease. "Approval of this sNDA means FF/UMEC/VI could be used by physicians to treat a wider population of patients with COPD who are at risk of an exacerbation and require triple therapy," the companies said. They added that Trelegy Ellipta is the first treatment to provide a combination of three molecules in a single inhaler that only needs to be taken once a day. It contains an inhaled corticosteroid, a long-acting muscarinic antagonist and a long-acting beta2-adrenergic agonist, delivered once daily in GSK's Ellipta dry powder inhaler, which is used across the entire new portfolio of inhaled COPD medicines.

GSK

GlaxoSmithKline

$35.06

0.25 (0.72%)

INVA

Innoviva

$13.42

0.01 (0.07%)

GSK GlaxoSmithKline
$35.06

0.25 (0.72%)

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.
10/26/17
BOFA
10/26/17
DOWNGRADE
BOFA
Neutral
GlaxoSmithKline downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill analyst Graham Parry downgraded GlaxoSmithKline to Neutral due to increasing headwinds including 2018 margin pressure and consensus reductions from Advair generic erosion, HIV franchise risk from competition, and dividend uncertainty.
10/26/17
10/26/17
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. GlaxoSmithKline (GSK) downgraded to Neutral from Buy at BofA/Merrill with analyst Graham Parry citing increasing headwinds including 2018 margin pressure and consensus reductions from Advair generic erosion, HIV franchise risk from competition, and dividend uncertainty. 2. Global Eagle (ENT) downgraded to Sell from Neutral at Citi with analyst Jason Bazinet saying Ernst & Young declining to stand for re-appointment increases the chances of an annual filing delay and a potential subsequent delisting by Nasdaq. The analyst cut his price target for the shares to $2 from $3. 3. trivago (TRVG) downgraded to Underperform from Neutral at BofA/Merrill and to Neutral from Buy at Guggenheim. 4. Lear (LEA) downgraded to Neutral from Buy at Guggenheim. 5. L Brands (LB) downgraded to Neutral from Buy at Buckingham with analyst Kelly Halsor saying she believes L Brands' margin recovery is facing headwinds in both brands resulting in incremental pricing investments and promotional activity. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/20/17
DBAB
11/20/17
INITIATION
Target $13
DBAB
Hold
Innoviva initiated with a Hold at Deutsche Bank
Deutsche Bank analyst Esther Rajavelu started Innoviva (INVA) with a Hold rating and $13 price target. The analyst is concerned about revenue concentration and sees no near-term growth opportunities outside of the GlaxoSmithKline (GSK) partnership.
INVA Innoviva
$13.42

0.01 (0.07%)

03/30/17
COWN
03/30/17
NO CHANGE
Target $16
COWN
Outperform
Delay for generic Advair a positive for Innoviva, says Cowen
Cowen analyst Tyler Van Buren said Mylan's (MYL) complete response letter for its generic version of GlaxoSmithKline's (GSK) Advair could result in at least a 12-18 month delay, which leaves him now expecting Breo will continue to grow unimpeded by Advair generics for 2017 and most of 2018. As a result, he increased his Breo revenues estimates for 2017, 2018, and 2021 and increased his price target on Innoviva (INVA), which gets royalty revenues from Breo sales, to $16 from $15. He keeps an Outperform rating on Innoviva shares.
05/01/17
COWN
05/01/17
NO CHANGE
Target $16
COWN
Outperform
Innoviva weakness a buying opportunity, says Cowen
Cowen analyst Tyler Van Buren said the recent earnings miss at Innoviva was largely non-fundamental and impacted by pressures that he expects will reverse in Q2. He said prescriptions look great and he views the weakness in Innoviva shares as a buying opportunity. Van Buren reiterated his Outperform rating and $16 price target on Innoviva shares.
11/20/17
11/20/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Innoviva (INVA) initiated with a Hold at Deutsche Bank. 2. National Vision (EYE) was initiated with an Overweight at Morgan Stanley, an Outperform at Wells Fargo, a Buy at Jefferies and Citi, as well as a Neutral at Goldman Sachs, UBS, and BofA/Merrill. 3. Ablynx (ABLX) was initiated with an Overweight at JPMorgan, an Outperform at Baird, and a Buy at Ladenburg. 4. Blue Apron (APRN) initiated with a Sector Weight at KeyBanc. 5. BP Midstream (BPMP) was initiated with an Overweight at JPMorgan, a Buy at UBS and Citi, an Equal Weight at Morgan Stanley and Barclays, as well as a Neutral at Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

NXPI

NXP Semiconductors

$115.64

-0.2 (-0.17%)

, QCOM

Qualcomm

$64.86

-0.32 (-0.49%)

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08:01
Hot Stocks
Elliott: UBS report supports view that NXP's value in excess of Qualcomm offer »

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NXPI

NXP Semiconductors

$115.64

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QCOM

Qualcomm

$64.86

-0.32 (-0.49%)

AVGO

Broadcom

$258.70

-1.25 (-0.48%)

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HXL

Hexcel

$60.98

1.64 (2.76%)

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CTLT

Catalent

$39.54

-0.2 (-0.50%)

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Oil Action: NYMEX crude »

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TSM

TSMC

$39.30

-0.07 (-0.18%)

07:57
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07:57
Periodicals
TSMC chairman says HPC chip demand remains strong, DigiTimes reports »

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KR

Kroger

$26.33

-0.25 (-0.94%)

07:56
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Conference/Events
Kroger management to meet with Deutsche Bank »

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ST

Sensata

$51.66

3.76 (7.85%)

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CTL

CenturyLink

$15.70

-0.17 (-1.07%)

, FTR

Frontier Communications

$10.05

-0.01 (-0.10%)

07:55
12/13/17
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07:55
Recommendations
CenturyLink, Frontier Communications, Windstream analyst commentary  »

Morgan Stanley says…

CTL

CenturyLink

$15.70

-0.17 (-1.07%)

FTR

Frontier Communications

$10.05

-0.01 (-0.10%)

WIN

Windstream

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UNM

Unum Group

$56.40

-0.25 (-0.44%)

07:55
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Conference/Events
Unum Group to host investor day »

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HON

Honeywell

$153.74

0.53 (0.35%)

07:55
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Conference/Events
Honeywell to hold a conference call »

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JLL

Jones Lang LaSalle

$149.76

0.56 (0.38%)

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Conference/Events
Jones Lang LaSalle to host investor day »

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AAPL

Apple

$171.70

-0.97 (-0.56%)

07:52
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Periodicals
Apple hires Matthys, Grazier for business affairs on content team, Variety says »

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AMTD

TD Ameritrade

$52.69

0.61 (1.17%)

07:51
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07:51
Syndicate
TD Ameritrade 27.7M share Spot Secondary priced at $51.50 »

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HUBS

HubSpot

$82.70

-0.7 (-0.84%)

07:50
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Conference/Events
HubSpot management to meet with Needham »

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VZ

Verizon

$53.19

1.35 (2.60%)

07:50
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Conference/Events
Verizon management to meet with Deutsche Bank »

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CRL

Charles River

$104.57

0.67 (0.64%)

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Initiation
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PAY

Verifone

$18.47

0.28 (1.54%)

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Technical Analysis
Technical View: Verifone falls after earnings and outlook disappoint »

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FRED

Fred's

$3.77

-0.19 (-4.80%)

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Conference/Events
Fred's management to meet with Sidoti »

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NICE

Nice

$87.71

0.03 (0.03%)

07:47
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PM

Philip Morris

$107.30

1.26 (1.19%)

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HXL

Hexcel

$60.98

1.64 (2.76%)

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PYPL

PayPal

$73.62

0.33 (0.45%)

, VNTV

Vantiv

$74.79

0.17 (0.23%)

07:42
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Recommendations
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PYPL

PayPal

$73.62

0.33 (0.45%)

VNTV

Vantiv

$74.79

0.17 (0.23%)

ADP

ADP

$117.05

-0.77 (-0.65%)

PAYX

Paychex

$68.71

-0.31 (-0.45%)

AMZN

Amazon.com

$1,165.08

-3.84 (-0.33%)

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AEE

Ameren

$61.36

-1.8425 (-2.92%)

07:42
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07:42
Downgrade
Ameren rating change  »

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AAPL

Apple

$171.70

-0.97 (-0.56%)

07:41
12/13/17
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Periodicals
Apple SVP Phil Schiller talks Face ID, HomePod delay, T3 reports »

Apple SVP of worldwide…

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BLUE

bluebird bio

$190.95

-10.85 (-5.38%)

07:41
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Downgrade
bluebird bio rating change  »

bluebird bio downgraded…

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