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AMGN

Amgen

$175.41

1.45 (0.83%)

, AZN

AstraZeneca

$32.74

0.52 (1.61%)

04:55
12/09/17
12/09
04:55
12/09/17
04:55

Cancer Therapy & Research Center to hold a symposium

2017 San Antonio Breast Cancer Symposium (SABCS) is being held in San Antonio, TX on December 5-9.

AMGN

Amgen

$175.41

1.45 (0.83%)

AZN

AstraZeneca

$32.74

0.52 (1.61%)

CLDX

Celldex

$3.03

0.1 (3.41%)

ESALY

Eisai

$57.60

1.095 (1.94%)

FMI

Foundation Medicine

$67.10

4.85 (7.79%)

DNA

Bought by RHHBY

$0.00

(0.00%)

HRTX

Heron Therapeutics

$15.95

0.5 (3.24%)

IMMU

Immunomedics

$12.44

0.58 (4.89%)

MRK

Merck

$55.57

0.8 (1.46%)

NSTG

NanoString

$7.55

0.15 (2.03%)

NVS

Novartis

$83.96

1.08 (1.30%)

PFE

Pfizer

$35.74

0.24 (0.68%)

PBYI

Puma Biotechnology

$100.75

-4.25 (-4.05%)

RDUS

Radius Health

$31.60

4.19 (15.29%)

SGEN

Seattle Genetics

$59.26

1.99 (3.47%)

SNDX

Syndax

$8.40

0.34 (4.22%)

TEVA

Teva

$16.06

1.06 (7.07%)

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AMGN Amgen
$175.41

1.45 (0.83%)

11/29/17
PIPR
11/29/17
NO CHANGE
Target $190
PIPR
Overweight
Piper still bullish on Amgen after management meeting
Piper Jaffray analyst Christopher Raymond says he remains bullish on Amgen shares after hosting the company's management at his firm's healthcare conference. The analyst sees near-term pipeline catalysts from Amgen's immuno-oncology approach, which he sees coming more into focus, Repatha label expansion, Parsabiv launch and Aimovig approval/launch next year. Raymond maintains an Overweight rating on the shares with a $190 price target.
11/01/17
ARGS
11/01/17
DOWNGRADE
ARGS
Hold
Amgen downgraded to Hold at Argus on secular slowdown in sales of top drugs
As reported earlier, Argus analyst David Toung downgraded Amgen to Hold from Buy, noting a "secular" slowdown in sales of the company's top three products - Enbrel, Neulasta and Aranesp. Toung says the sales of growth prospects Prolia, Kyprolis and Repatha are not yet large enough to offset the declines in the three established drugs which face generic competition after losing patent protection. The analyst notes that Amgen may not generate commercial revenue from biosimilars until 2019 due to regulatory and legal challenges.
11/01/17
ARGS
11/01/17
DOWNGRADE
ARGS
Hold
Amgen downgraded to Hold from Buy at Argus
10/31/17
PIPR
10/31/17
NO CHANGE
Target $170
PIPR
Overweight
Piper says Amgen more credible biosimilar threat to Alexion in Europe
Piper Jaffray analyst Christopher Raymond believes Amgen's (AMGN) threat of a biosimilar alternative to Alexion Pharmaceuticals' (ALXN) Soliris may be more credible and near-term than he previously thought. The analyst highlights a Phase 3 study recently listed in the European Union's Clinical Trials Registry, which was authorized in August, as well as evidence of Amgen's active opposition to Alexion's intellectual property extension efforts in Europe. He reminds investors that two-thirds of Soliris' revenue is outside the U.S. Given this new evidence, "it would appear the real battleground may be Europe," Raymond tells investors in a research note. He keeps an Overweight rating on Alexion with a $170 price target. He views the company as well positioned to defend itself against Amgen.
AZN AstraZeneca
$32.74

0.52 (1.61%)

11/20/17
HCWC
11/20/17
NO CHANGE
Target $158
HCWC
Buy
Tesaro approval in Europe gives advantage over Lynparza, says H.C. Wainwright
H.C. Wainwright analyst Edward White said Tesaro's (TSRO) receipt of marketing authorization for Zejula in Europe will give the drug an immediate advantage over AstraZeneca's (AZN) Lynparza and should help Zejula capture significant share. White keeps a Buy rating and $158 price target on Tesaro shares.
11/16/17
JEFF
11/16/17
NO CHANGE
JEFF
Buy
Jefferies names Roche new top global pick in Pharmaceuticals
Jefferies analyst Jeffrey Holford names Roche (RHHBY) his new "Top Pick Globally" in Pharmaceuticals following the strong share performance of his previous top pick for 2017, AbbVie (ABBV). The analyst believes the company's growth outlook is better than many investors think. Roche is nearing sentiment lows and investors "need to look hard at the replacement power" offered by assets Tecentriq, Ocrevus, Gazyva, ACE910 and Perjeta, Holford tells investors in a research note. Following Roche, the analyst has the highest conviction on Novartis (NVS), Bayer (BAYRY), AbbVie, Johnson & Johnson (JNJ), Zoetis (ZTS) and Eli Lilly (LLY). His least preferred stocks in Pharmaceuticals are Merck (MRK), Novo Nordisk (NVO) and AstraZeneca (AZN).
11/13/17
BMOC
11/13/17
NO CHANGE
BMOC
BMO says Pfizer buying Biogen makes more sense than deal for Bristol-Myers
BMO Capital analyst Alex Arfaei noted the "significant market speculation" that Pfizer (PFE) is preparing to execute a large M&A deal. While many sources, including Bloomberg, have speculated that Pfizer could target Bristol-Myers (BMY), Arfaei argues that a deal for Biogen (BIIB) would make more sense. He believes Pfizer has a significant gap in neurology, particularly in Alzheimer's, where it cannot afford to remain on the sidelines as its peers - including Biogen, Merck (MRK), AstraZeneca (AZN), and Eli Lilly (LLY) - all have pivotal trials in that area reading out in 2019-2020. Pfizer could have an opportunity to leverage near-term volatility in Biogen's MS franchise to strike a deal during the next 6-9 months before a potential interim look on aducanumab, which Arfaei views as the strongest of the next wave of Alzheimer's drugs in development, he tells investors.
12/05/17
DBAB
12/05/17
NO CHANGE
DBAB
Buy
AstraZeneca positioned to lead in ovarian cancer, says Deutsche Bank
Deutsche Bank analyst Richard Parkes believes recent "strong data" of Tagrisso/Imfinzi mark a turning point for AstraZeneca and the profitability of its lung cancer franchise. The analyst says his survey of 47 U.S. physicians treating patients with ovarian cancer suggests "strong uptake" of the PARP inhibitors class across multiple lines of therapy. Physicians perceive the various approved drugs as comparable on efficacy but with tolerability favoring AstraZeneca's Lynparza, Parkes tells investors in a research note. He believes AstraZeneca will emerge as market leader in a potential greater than $7B class, with "significant upside potential" to consensus forecasts. The analyst reiterates a Buy rating on the shares.
CLDX Celldex
$3.03

0.1 (3.41%)

08/01/17
HCWC
08/01/17
INITIATION
Target $10
HCWC
Buy
Celldex assumed with a Buy at H.C. Wainwright
H.C. Wainwright analyst Joseph Pantginis assumed coverage of Celldex Therapeutics with a Buy rating and $10 price target. The analyst expects an "important turnaround" over the next 12-months driven by the company's two lead assets, glembatumumab vedotin and varlilumab.
08/01/17
08/01/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Hain Celestial (HAIN) initiated with a Hold at Loop Capital. 2. Centennial Resource Development (CDEV) initiated with an Overweight at JPMorgan. 3. Neos Therapeutics (NEOS) initiated with an Overweight at Cantor. 4. Celldex (CLDX) assumed with a Buy at H.C. Wainwright. 5. SilverBow Resorces (SBOW) initiated with a Neutral at Seaport Global. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
ESALY Eisai
$57.60

1.095 (1.94%)

01/05/17
JMPS
01/05/17
NO CHANGE
JMPS
Market Perform
JMP Securities views Arena amended agreement with Eisai 'favorably'
JMP Securities analyst Jason Butler says Arena Pharmaceuticals' (ARNA) amended agreement with Eisai (ESALY) reduces resource and capital constraints on the company while maintaining "attractive" long-term upside from Belviq success. The analyst notes that Eisai will now have full global development and marketing rights to Belviq in exchange for lowering Arena's royalties and cost contributions, which he views "favorably" as the commercial potential for it remains limited. Furthermore, the new agreement allows Arena to further focus its energies and resources in its Phase 2 pipeline assets, Butler adds. He reiterates a Market Perform on Arena Pharmaceuticals' shares.
02/15/17
LEER
02/15/17
NO CHANGE
LEER
Biogen outlook intact despite Merck study suspension, says Leerink
Leerink analyst Geoffrey Porges notes that Merck (MRK) announced the suspension of the Phase 2/3 EPOCH trial of verubecestat in mild-to-moderate Alzheimer's patients for lack of efficacy, which was one of the most important catalysts for the field this year and a significant overhang for Biogen (BIIB) and other companies. While the failure had been widely anticipated in this study, the analyst believes this result does not read over to the outlook for Biogen's ongoing pivotal trials with aducanumab, or with its partner, Eisai's (ESALY) BACE inhibitor, elenbecestat.
FMI Foundation Medicine
$67.10

4.85 (7.79%)

03/07/17
JANY
03/07/17
UPGRADE
JANY
Neutral
Foundation Medicine upgraded to Neutral from Sell at Janney Capital
Janney Capital analyst Paul Knight upgraded Foundation Medicine (FMI) to Neutral from Sell, citing "easy" earnings comparisons in Q1 and low expectations. In his upgrade note, Knight added that if Foundation's recent rebound is due to a change in sector perception, then he views Veracyte (VCYT), CaredDx (CDNA), and Oncocyte (OCX) as having "more catalysts, more revenue visibility, and better value" and sees all three as undervaled.
05/15/17
BTIG
05/15/17
UPGRADE
Target $39
BTIG
Buy
Foundation Medicine upgraded to Buy from Neutral at BTIG
BTIG analyst Karen Koski upgraded Foundation Medicine to Buy from Neutral and established a $39 price target. The analyst expects Foundation to continue to benefit from educational efforts in the community setting, progress in CMS reimbursement, expanded product portfolio, and focus on improving clinical actionability of CGP.
04/03/17
WBLR
04/03/17
NO CHANGE
WBLR
Outperform
William Blair sees more upside for Foundation Medicine despite recent rally
After revisiting her thesis with the stock up 82% year-to-date, William Blair analyst Amanda Murphy continues to see potential for upside in Foundation Medicine shares. The analyst is unable to pinpoint a specific catalyst for the move higher, but notes short covering likely played a role while reimbursement fundamentals appear to have shifted in the company's favor over the past few weeks. The analyst sees potential for 20%-30% in compound annual revenue growth over the next five years for Foundation and keeps an Outperform rating on the name.
DNA Bought by RHHBY
$0.00

(0.00%)

10/13/17
KEYB
10/13/17
NO CHANGE
Target $106
KEYB
Overweight
Auto suppliers supported by stronger Euro and rising EU output, says KeyBanc
KeyBanc analyst Brett Hoselton raised his profit targets on several auto suppliers, maintaining a positive view on the group overall heading into Q3 earnings. Hoselton says the outlook for the quarter is intact, as lower than expected production of light vehicles was in part offset by stronger EU output. He also cites FX tailwinds, with the Euro have appreciated about 7% sequentially and further supporting revenue in Q3 and possibly FY18. Hoselton raised his profit targets on Delphi Automotive (DLPH) to $106 from $100, Magna International (MGA) to $59 from $55, Lear Corp (LEA) to $184 from $180, and BorgWarner (BWA) to $56 from $50, maintaining an Overweight rating on all these stocks. The analyst is especially bullish on Dana Inc (DNA) given the recent upward revisions to North America Class 8 production, but says his Sector Weight rating reflects the stock prices.
HRTX Heron Therapeutics
$15.95

0.5 (3.24%)

10/31/17
OPCO
10/31/17
INITIATION
Target $27
OPCO
Outperform
Heron Therapeutics initiated with an Outperform at Oppenheimer
Oppenheimer analyst Derek Archila started Heron Therapeutics with an Outperform rating and $27 price target. The recent share pullback provides an attractive entry point ahead of the Cinvanti approval in mid-November and top line data for HTX-011's pivotal studies in the first half of 2018, the analyst contends.
12/06/17
COWN
12/06/17
NO CHANGE
Target $40
COWN
Outperform
Heron Therapeutics a Best Idea for 2018, says Cowen
Cowen analyst Boris Peaker calls Heron Therapeutics a Best Idea for 2018 as he believes it has room to grow and has several catalysts in 2018 that can provide significant upside. The catalysts include HTX-011 Phase 3 data and commercial progress with Sustol and Civanti. The analyst believes HTX-011 has the potential to become the best-in-class opioid alternative for post-surgical-pain. Peaker reiterated his Outperform rating and $40 price target on Heron Therapeutics shares.
09/27/17
NORL
09/27/17
INITIATION
Target $40
NORL
Outperform
Heron Therapeutics initiated with an Outperform at Northland
Northland analyst Carl Byrnes initiated Heron Therapeutics with an Outperform and a $40 price target saying shares are "extremely undervalued" The analyst said its CINV treament, Sustol, has been very well received and is under FDA review with a November 12 PDUFA date. Further, Heron's HTX-011 is positioned to become the best-in-class therapy for postoperative pain management as it provides sustained relief through the first 72 hours while sparing the use of highly-addictive opioids, Byrnes wrote in a note to investors.
09/26/17
MZHO
09/26/17
INITIATION
Target $28
MZHO
Buy
Heron Therapeutics initiated with a Buy at Mizuho
Mizuho analyst Difei Yang initiated Heron Therapeutics with a Buy and $28 price target.
IMMU Immunomedics
$12.44

0.58 (4.89%)

11/14/17
COWN
11/14/17
NO CHANGE
Target $15
COWN
Outperform
Immunomedics drug survival rate disappointing but approval likely, says Cowen
Cowen analyst Phil Nadeau said the overall survival rate for Immunomedics' IMMU-132 showed a decrease, which was disappointing, but the response rate is still well above the current standard of care. As a result, the analyst believes it still appears likely to get accelerated FDA approval. Nadeau reiterated his Outperform rating and $15 price target on Immunomedics shares.
11/14/17
JEFF
11/14/17
NO CHANGE
Target $16
JEFF
Buy
Jefferies disagrees with yesterday's selloff in Immunomedics
Immunomedics closed down 19% yesterday largely due to interim overall survival data for IMMU-132 and concerns the FDA will require Phase III overall survival data for approval, Jefferies analyst Matthew Andrews tells investors in a research note. The analyst disagrees, and keeps a Buy rating on the shares with a $16 price target. The progression-free survival is the Phase III Special Protocol Assessment's primary endpoint, while the overall survival data may ultimately be confounded by patients' use of other drugs after progression, Andrews tells investors in a research note. Precedent for objective response rate/duration of response exists with FDA breakthrough therapy approvals of 12 solid tumor drugs, some with less robust efficacy than IMMU-132, the analyst adds.
11/13/17
WELS
11/13/17
NO CHANGE
Target $14
WELS
Outperform
Immunomedics weakness a buying opportunity, says Wells Fargo
Wells Fargo analyst Jim Birchenough said weakness in Immunomedics is a buying opportunity following review of SABCS abstract data for IIMU132 in TNBC saying he believes the data supports accelerated approval. Birchenough rates Immunomedics an Outperform with a $14 price target.
12/06/17
JEFF
12/06/17
NO CHANGE
JEFF
Buy
Immunomedics breast cancer data continue to look 'very solid,' says Jefferies
Jefferies analyst Matthew Andrews says the totality of Immunomedics' Phase II breast cancer data for IMMU-132 "continue to look very solid." Importantly, there was no clinically meaningful decrease in objective response rate per blinded central review, Andrews tells investors in a research note after the company announced updated results. The analyst reiterates a Buy rating and believes the data is sufficient to support FDA accelerated approval.
MRK Merck
$55.57

0.8 (1.46%)

11/28/17
BOFA
11/28/17
INITIATION
Target $64
BOFA
Buy
Merck reinstated with a Buy at BofA/Merrill
BofA/Merrill analyst Jason Gerberry reinstated coverage on Merck with a Buy and $64 price target citing attractive valuation, diversified revenue streams, pipeline potential, and a history of returning cash.
12/07/17
PIPR
12/07/17
NO CHANGE
PIPR
Roche lung cancer data underwhelming versus Merck's, says Piper Jaffray
Piper Jaffray analyst Richard Purkiss says that while Roche's (RHHBY) IMpower150 data are strong and suggesting a likelihood that the combination of Tecentriq with Avastin and chemo will be approved in non-small cell lung cancer, the data also appear underwhelming compared to Merck's (MRK) KN-21G trial data. The analyst does expect Tecentriq approval in lung cancer next year and reiterates an Overweight rating on Roche. Whether KN-021G represents the "high water mark" for efficacy can only be answered following full presentation of the remaining pivotal Phase 3 trials in this setting, and until then confusion is likely to remain, Purkiss tells investors in a research note. Merck in premarket trading is up 85c to $55.20 while Roche is down 93c to $30.40.
11/24/17
DBAB
11/24/17
NO CHANGE
Target $59
DBAB
Hold
Deutsche cuts Merck target to $59 on competition from AbbVie, GSK
Deutsche Bank analyst Gregg Gilbert lowered his price target for Merck (MRK) to $59 from $62 citing expectations for more competitive pressure on Zepatier and Zostavax. The stock closed Wednesday up 10c to $54.37. Demand trends for Merck's hepatitis C virus drug Zepatier have continued to decline as AbbVie's (ABBV) Mavyret has gained traction, Gilbert told investors in a research note. The analyst also assumes "significant pressure" on Merck's shingles vaccine Zostavax from the near-term competitive launch of GlaxoSmithKline's (GSK) Shingrix. Gilbert views Merck's risk/reward as fairly balanced and he keeps a Neutral rating on the shares.
NSTG NanoString
$7.55

0.15 (2.03%)

04/20/17
04/20/17
DOWNGRADE
Target $20

Equal Weight
NanoString downgraded on cautious survey results at Morgan Stanley
As previously reported, Morgan Stanley downgraded NanoString to Equal Weight from Overweight and lowered its price target to $20 from $23. Analyst Steve Beuchaw said expectations appear high relative to his instrument and CDx survey. The survey indicates muted expectations for instrument demand and industry discussions suggest less enthusiasm for the nCounter instrument for diagnostic applications. Beuchaw now expects growth to be 20-30% over the next three years compared to 30-40% growth over the last two years and lowered estimates and reduced his price target to $20 from $23 on shares.
10/12/17
COWN
10/12/17
DOWNGRADE
Target $13
COWN
Market Perform
NanoString downgraded to Market Perform from Outperform at Cowen
Cowen analyst Doug Schenkel downgraded NanoString Technologies to Market Perform and cut his price target for the shares to $13 from $18.50. "Several things" appear to be trending in the wrong direction after the company preannounced a "huge" Q3 miss, Schenkel tells investors in a research note. The analyst says a turnaround at the company "does not seem imminent."
10/12/17
JANY
10/12/17
DOWNGRADE
JANY
Neutral
NanoString downgraded to Neutral from Buy at Janney Capital
10/12/17
10/12/17
DOWNGRADE
Target $12

Neutral
NanoString downgraded to Neutral after weak pre-announcement at Janney Capital
As previously reported, Janney Capital analyst Paul Knight downgraded NanoString to Neutral from Buy after the company pre-announced lower than expected Q3 revenue, noting that its light instrument and consumable sales are "a recurrent theme." Knight lowered his fair value estimate on NanoString shares to $12 from $18.
NVS Novartis
$83.96

1.08 (1.30%)

12/01/17
WELS
12/01/17
NO CHANGE
Target $1525
WELS
Outperform
Amazon price target raised to $1,525 from $1,430 at Wells Fargo
Wells Fargo analyst Ken Sena raised his price target for Amazon.com (AMZN) to $1,525 to reflect increased outer-year estimates for Web Services as well as a higher sum-of-the-parts valuation. The stock closed yesterday up $15.48 to $1,176.75. The analyst highlights the "very successful" five-day Amazon Wed Services conference in Las Vegas, "record-breaking" early holiday sales data, and another healthcare industry development with CNBC reporting the company is in talks with generic manufacturers Mylan (MYL) and Novartis (NVS). Sena sees an increasing likelihood that Amazon "ultimately becomes a disruptor" in healthcare, with generics representing a potential point of entry. The Wells Fargo Healthcare team sees generics as a "simple entry point" in pharma as it involves many players with ready supply and a price competitive market, Sena tells investors in a research note. The analyst keeps an Outperform rating on Amazon.
12/06/17
BOFA
12/06/17
DOWNGRADE
BOFA
Underperform
Novartis downgraded to Underperform from Neutral at BofA/Merrill
BofA/Merrill analyst Graham Perry downgraded Novartis to Underperform citing recent share strength, Cosentyx competition, and lack of catalysts.
12/01/17
WELS
12/01/17
NO CHANGE
WELS
Wells not seeing Amazon talks as good news for Mylan, others
CNBC last night reported that Amazon.com (AMZN) is in exploratory talks with Mylan (MYL) and Novartis' Sandoz (NVS) regarding a potential entry into the pharmacy space. While the market might consider this good news for Mylan and other generics as a sign of potential preferred supplier agreements, Wells Fargo analyst David Maris says he's more cautious. Amazon entering the pharmacy market could be a negative headwind for retail generics and potentially branded over-the-counter products, Maris argues. He believes Amazon would source at competitive prices and that "increased price transparency may cause traditional retailers to push harder for price concessions."
12/01/17
SBSH
12/01/17
DOWNGRADE
Target $380
SBSH
Neutral
Regeneron downgraded to Neutral from Buy at Citi
Citi analyst Robyn Karnauskas downgraded Regeneron Pharmaceuticals (REGN) to Neutral and cut her price target for the shares to $380 from $480. The biotechnology company closed yesterday up 1% to $361.86. The analyst believes the competitive threat from Novartis' (NVS) vision-loss drug RTH258 is being underappreciated by the market. It is hard to believe that RTH258 would not have a price impact, at minimum, on Regeneron's Eylea, Karnauskas tells investors in a research note. The analyst points out that her dermatologist survey came back bullish for Regeneron's Dupixent. While she expects the drug to beat expectations for 2018, the analyst feels this won't be enough to offset the overhang on shares from Eylea competition.
PFE Pfizer
$35.74

0.24 (0.68%)

12/05/17
SBSH
12/05/17
NO CHANGE
Target $72
SBSH
Buy
Senate tax bill raises odds of Pfizer buying Bristol-Myers, says Citi
The Senate tax bill, which lowers the cost of bringing cash back home from outside the U.S., increases the probability of the "often-discussed" potential acquisition of Bristol-Myers Squibb (BMY) by Pfizer, Citi analyst Andrew Baum tells investors in a research note. The analyst points out that Pfizer has repeatedly underscored the importance of tax reform both from a competitive angle as well as from a merger perspective. Further, the analyst says that while Roche's (RHHBY) IMpower 150 Tecentriq lung cancer data in Geneva will take center stage this week, Bristol-Myers should benefit from two recent positive developments. The FDA's and Centers for Medicare and Medicaid Services' recommendation of Tumor Mutational Burden testing for lung cancer and other tumors will likely materially accelerate adoption and create more favorable reimbursement, Baum writes in a research note partially titled "Stars Converging for BMY." The analyst keeps a Buy rating on Bristol shares with a $72 price target. The stock closed yesterday down 76c to $62.47.
11/14/17
WELS
11/14/17
NO CHANGE
Target $12
WELS
Outperform
Pfizer ADHD drug supply shortage is positive for Neos, says Wells Fargo
Wells Fargo analyst David Maris says Pfizer (PFE) has sent a letter on physicians dated November 8th telling them of a supply shortage for its liquid and chewable methylphenidate ADHD products. Maris says Pfizer's product is a direct competitor of Neos' (NEOS) recently-launched Cotempla XR-ODT, adding Neos will benefit from having its primary competition in the alternative dose market facing a shortage. The analyst says Cotempla XR-ODT, launched in September, is off to a very strong start, keeping his Outperform rating with a $12 price target on Neos.
11/13/17
PIPR
11/13/17
NO CHANGE
Target $54
PIPR
Overweight
Pfizer still most compelling risk/reward in global pharma, says Piper Jaffray
Piper Jaffray analyst Richard Purkis says Pfizer remains the most compelling long-run risk/reward opportunity in his global pharma coverage universe. He believes the company's key growth assets, or Ibrance, Eliquis, Xtandi, Xeljanz and Bosulif, and pipeline are being underestimated by investors. Pfizer remains one of the analyst's top 2017 picks. Purkis reiterates an Overweight rating on the shares with a $54 price target.
PBYI Puma Biotechnology
$100.75

-4.25 (-4.05%)

11/10/17
LEHM
11/10/17
NO CHANGE
Target $122
LEHM
Overweight
Puma Biotechnology price target raised to $122 from $103 at Barclays
Barclays analyst Gena Wang raised her price target for Puma Biotechnology to $122 citing encouraging Nerlynx launch metrics post the company's Q3 results. The analyst maintains an Overweight rating on the shares.
11/10/17
RBCM
11/10/17
NO CHANGE
Target $108
RBCM
Sector Perform
Puma Biotechnology price target raised to $108 from $92 at RBC Capital
RBC Capital analyst Matthew Eckler raised his price target on Puma Biotechnology to $108 and kept his Sector Perform rating following Q3 results. Eckler says that while Nerlynx sales were ahead of consensus, expectations may have been higher going into the announcement. The analyst notes that his model now accounts for increasing cadence of new patient starts, but sees valuation at current levels properly balancing Nerlynx potential with remaining near-term uncertainties around the launch.
11/10/17
FBCO
11/10/17
NO CHANGE
Target $142
FBCO
Outperform
Puma Biotechnology launch meeting high expectations, says Credit Suisse
Credit Suisse analyst Alethia Young raised her price target for Puma Biotechnology shares to $142 from $136 saying she believes the Nerlynx launch is living up to high expectations. The analyst keeps an Outperform rating on Puma following the Q3 results.
11/10/17
SBSH
11/10/17
NO CHANGE
Target $164
SBSH
Buy
Puma Biotechnology earnings selloff a buying opportunity, says Citi
Citi analyst Yigal Nochomovitz recommends using today's post-earnings selloff in shares of Puma Biotechnology as a buying opportunity. The 11% pullback reflects nothing more than unrealistic consensus expectations, Nochomovitz tells investors in a research note. At this pace, the Nerlynx launch is positioned to rival Herceptin's $170M first full year in 1998-1998, the analyst contends. He keeps a Buy rating on Puma.
RDUS Radius Health
$31.60

4.19 (15.29%)

05/22/17
ADAM
05/22/17
NO CHANGE
Target $85
ADAM
Buy
CV events 'may kill' Amgen's romosozumab development, says Canaccord
Canaccord analyst John Newman said Amgen (AMGN) and partner UCB's report of a higher rate of cardiovascular Serious Adverse Events for romosozumab in the Phase 3 ARCH study in osteoporosis suggests a much lower chance of FDA approval for the drug and may "kill" romosozumab's development. He notes that Merck's (MRK) cathepsin-K inhibitor was previously discontinued due to increased risk of atrial fibrillation and stroke. In addition to the safety signals, Newman points out that romosozumab was worse than Radius' (RDUS) Tymlos for non-vertebral fracture and for vertebral fracture, suggesting Radius' drug also has much better efficacy, said the analyst, who keeps a Buy rating and $85 price target on Radius Health shares, which are up $4.47, or 12.8%, to $39.40 in pre-market trading.
12/06/17
SBSH
12/06/17
INITIATION
Target $30
SBSH
Neutral
Radius Health initiated with a Neutral at Citi
Citi analyst Robyn Karnauskas started Radius Health with a Neutral rating and $30 price target. The analyst believes the Tymlos launch will be the key story for 2018 and prefers to wait on the sidelines until the company's cancer program comes to the forefront.
05/22/17
LEER
05/22/17
NO CHANGE
Target $159
LEER
Market Perform
Leerink sees only 50/50 chance of Amgen's Evenity hitting market
After Amgen (AMGN) and UCB reported an "imbalance of positively adjudicated serious cardiovascular adverse events" in its Phase 3 study of Evenity, Leerink analyst Geoffrey Porges believes the product now has only a 50/50 probability of coming to market at all. The analyst lowered his price target for Amgen shares to $159 from $160 and keeps a Market Perform rating on the name. Radius Health (RDUS), which has a drug that would compete with Evenity, is trading up 16% to $40.58 in the premarket.
05/22/17
JPMS
05/22/17
NO CHANGE
Target $74
JPMS
Overweight
Amgen data a 'clear positive' for Radius Health, says JPMorgan
JPMorgan analyst Jessica Fye believes the imbalance in observed cardiovascular serious adverse events reported by Amgen (AMGN) and UCB over the weekend for Evenity is a "clear positive" for Radius Health (RDUS). The FDA will now add results from the Phase 3 ARCH study to the regulatory review, and as a result Amgen does not expect U.S. approval for Evenity in 2017, Fye tells investors in a research note. The update is a "clear positive" for Radius Health, who has Tymlos already approved with a clean clinical safety profile, the analyst contends. She continues to believe Tymlos is well positioned for a successful launch into the large market opportunity of postmenopausal women with osteoporosis at high risk of fracture. Fye has an Overweight rating on Radius with a $74 price target. The stock in premarket trading is up 13%, or $4.62, to $39.55.
SGEN Seattle Genetics
$59.26

1.99 (3.47%)

10/27/17
BOFA
10/27/17
UPGRADE
Target $70
BOFA
Neutral
Seattle Genetics upgraded to Neutral from Underperform at BofA/Merrill
Bofa/Merrill analyst Tazeen Ahmad upgraded Seattle Genetics to Neutral and increased its price target to $70 from $55. The analyst said better than expected US Adcetris sales led to a solid Q3 report and sees a longer runway for growth.
10/20/17
LEHM
10/20/17
UPGRADE
Target $70
LEHM
Overweight
Seattle Genetics upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Geoff Meacham upgraded Seattle Genetics to Overweight and raised his price target for the shares to $70 from $60. The biotechnology company closed yesterday up 33c to $64.01. The analyst has increased conviction in the company's Echelon-1 study, which is evaluating Adectris as part of a frontline combination chemotherapy regimen in 1,334 patients with previously untreated advanced classical Hodgkin lymphoma. Due diligence indicates clinicians are largely willing to accept a marginal gain in efficacy for a meaningful improvement in safety/toxicity, Meacham tells investors in a research note. The analyst now models peak Adcetris U.S. classical Hodgkin lymphoma sales at $1.2B, versus a prior $900M, with peak sales across all indications at $1.8B, above the consensus of $1.5B. Meacham this morning also downgraded Regeneron Pharmaceuticals (REGN) to Underweight from Equal Weight.
10/30/17
RHCO
10/30/17
NO CHANGE
Target $52
RHCO
Hold
Seattle Genetics price target raised to $52 from $45 at SunTrust
SunTrust analyst Yatin Suneja raised his price target on Seattle Genetics to $52 following Q3 results. Suneja says the earnings beat was the result of a one-time investment gain, keeping his Hold rating with an eye on the upcoming E-1 data at ASH and the E-2 readout in 2018.
10/23/17
GUGG
10/23/17
INITIATION
Target $72
GUGG
Buy
Seattle Genetics initiated with a Buy at Guggenheim
Guggenheim analyst Adnan Butt initiated Seattle Genetics with a Buy and $72 price target.
SNDX Syndax
$8.40

0.34 (4.22%)

03/24/17
COWN
03/24/17
INITIATION
COWN
Outperform
Syndax initiated with an Outperform at Cowen
Cowen analyst Chris Shibutani initiated Syndax with an Outperform commenting it is poised to succeed in developing entinostat for advanced HR+ breast cancer. Additional upside could be driven by IO combination studies, which capitalize on entinostat's unique mechanism of action, complementary to checkpoint inhibitors.
05/18/17
SBSH
05/18/17
NO CHANGE
Target $24
SBSH
Buy
Syndax price target raised to $24 from $20 at Citi
Citi analyst Joel Beatty raised his price target for Syndax Pharmaceuticals to $24 saying he's encouraged by the early response data reported yesterday afternoon for Entinostat plus Keytruda in melanoma. The data are compelling enough to increase the drug's probability of approval in melanoma to 30% from 20%, Beatty tells investors in a research note. He keeps a Buy rating on Syndax.
05/18/17
JMPS
05/18/17
NO CHANGE
JMPS
Syndax data 'impressive,' says JMP Securities
JMP Securities analyst Michael King says that the objective response rate for the company's entinostat in melanoma patients in a Phase 1b/Phase II trial was "impressive." The analyst remains upbeat on the treatment and keeps an Outperform rating on the stock.
08/11/17
OPCO
08/11/17
NO CHANGE
Target $29
OPCO
Outperform
Syndax price target raised to $29 from $25 at Oppenheimer
Oppenheimer analyst Hartaj Singh raised his price target for Syndax Pharmaceuticals to $29 saying he remains bullish following the Q2 results and business update. The Encore 601 trial melanoma stage two cohort continues to build on its "impressive" ASCO 2016 data, with full enrollment in Q3, a full quarter ahead of schedule, the analyst tells investors in a research note. He keeps an Outperform rating on Syndax.
TEVA Teva
$16.06

1.06 (7.07%)

11/13/17
JPMS
11/13/17
DOWNGRADE
Target $11
JPMS
Underweight
Teva downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Chris Schott downgraded Teva Pharmaceuticals to Underweight saying he sees an "extended road to recovery and no clear fundamental inflection in sight" amid challenges in the company's U.S. generics business. The analyst sees more attractive opportunities elsewhere in the sector and keeps an $11 price target for Teva shares.
11/24/17
WELS
11/24/17
NO CHANGE
WELS
Teva in 'survival mode at this point,' says Wells Fargo
Wells Fargo analyst David Maris says Teva is "in survival mode at this point" following reports that the company will soon announce a 20% workforce reduction. Given its "tough" debt position, Teva's nearly 5% share rally in Israel is not surprising, as it encourages some investors that the company will not face a restructuring, Maris tells investors in a research note. The analyst believes, however, that investors "should not confuse a lower cost base as an improvement, but rather steps for surviving longer." Maris thinks asset sales such as key pipeline products and brand products "will also be on the table." He keeps a Market Perform rating on Teva. The stock in premarket trading is up 4%, or 57c, to $14.05.
11/27/17
WELS
11/27/17
NO CHANGE
WELS
Teva CEO seems to have 'axe in each hand,' says Wells Fargo
It seems new CEO Kare Schultz is approaching Teva "with an ax in each hand, not hedge clippers or pruning shears," Wells Fargo analyst David Maris tells investors in a research note titled "New Structure Focused On Survival" following this morning's restructuring announcement. The analyst thinks the market will like the news in the short run, but that "serious questions" will arise longer term as to whether Schultz's approach is "cutting fat or muscle." Maris thinks Teva's leaner finance, regulatory, R&D and human resources capabilities may provide longer-term regulatory challenges. The analyst keeps a Market Perform rating on Teva.
12/06/17
JEFF
12/06/17
NO CHANGE
Target $81
JEFF
Buy
ICER panel vote bodes well for Neurocrine's Ingrezza, says Jefferies
The Institute for Clinical and Economic Review's New England Comparative Effectiveness Public Advisory Council convened yesterday to review clinical and economic evidence on new VMAT2i therapies for tardive dyskinesia, Jefferies analyst Biren Amin tells investors in a research note. The panel addressed the draft report which suggested an 85%-90% discount in prices of Neurocrine Biosciences' (NBIX) Ingrezza and Teva's (TEVA) Austedo were needed to achieve cost-effectiveness by commonly accepted cutoffs. The panel, however, found cumulative evidence of potential significant health benefits for Ingrezza and Austedo not captured in the QALY calculation, the analyst points out. Amin believes the vote bodes well for Ingrezza reimbursement. He keeps a Buy rating on Neurocrine with an $81 price target.

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