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TEVA

Teva

$19.22

-0.36 (-1.84%)

, ALDR

Alder Biopharmaceuticals

$12.95

-0.45 (-3.36%)

08:07
01/08/18
01/08
08:07
01/08/18
08:07

Teva announces global license agreement with Alder Biopharmaceuticals

Teva Pharmaceutical Industries (TEVA) announced that its subsidiary, Teva Pharmaceuticals International, has signed a global license agreement with Alder BioPharmaceuticals (ALDR). The agreement validates Teva's IP and resolves Alder's opposition to Teva's European Patent No. 1957106 B1, with respect to anti-calcitonin gene-related peptide antibodies and methods for their use. It also provides Alder with clarity for its ongoing plans in the field. Under the terms of the agreement, Alder has received a non-exclusive license to Teva's anti-CGRP antibodies patent portfolio to develop, manufacture and commercialize eptinezumab in the U.S. and worldwide, excluding Japan and Korea. In exchange, Alder has agreed to: Withdraw its appeal before the European Patent Office; Make an immediate one-time payment of $25M to Teva; Make a second one-time payment of $25M upon the approval of a biologics license application for Alder's eptinezumab with the U.S. Food and Drug Administration or of an earlier equivalent filing with a regulatory authority elsewhere in the license territory in which any Teva licensed patents exist; Following commercial launch of eptinezumab, pay $75M at each of two sales-related milestones and provide certain royalty payments on net sales at rates from 5% to 7%.

TEVA

Teva

$19.22

-0.36 (-1.84%)

ALDR

Alder Biopharmaceuticals

$12.95

-0.45 (-3.36%)

  • 08

    Jan

  • 08

    Jan

TEVA Teva
$19.22

-0.36 (-1.84%)

01/04/18
SBSH
01/04/18
UPGRADE
Target $24
SBSH
Buy
Teva upgraded to Buy from Neutral at Citi
Citi analyst Liav Abraham upgraded Teva Pharmaceutical to Buy and raised her price target for the shares to $24 from $16. The drugmaker closed yesterday up 2c to $19.13. The analyst "more constructive" on the Specialty Pharma group heading into 2018. More realistic expectations, along with pipeline catalysts set the stage for a potential inflection point for some of the stocks in 2018, Abraham tells investors in a research note on the sector. She believes Teva's risk/reward profile that is skewed to the upside over the near to medium as management executes on the recently announced cost cuts. Mylan (MYL) is Abraham's top pick for 2018.
01/05/18
WELS
01/05/18
DOWNGRADE
Target $17
WELS
Underperform
Teva downgraded to Underperform from Market Perform at Wells Fargo
Wells Fargo analyst David Maris downgraded Teva Pharmaceutical to Underperform with a $17 price target. The drugmaker closed yesterday up 45c to $19.58. Teva shares have now risen approximately 80% from its lows in November, Maris tells investors in a research note. The analyst believes now is a good time to sell the stock. Other generic Copaxone's will emerge in 2018, pricing pressures will remain, and Teva's debt will be downgraded, Maris predicts. The analyst lowered his 2018 earnings per share estimate to $2.68, well below the consensus at $3.00.
01/05/18
JEFF
01/05/18
NO CHANGE
Target $105
JEFF
Buy
Neurocrine price target raised to $105 from $81 at Jefferies
Jefferies analyst Biren Amin raised his price target for Neurocrine Biosciences (NBIX) to $105 following his fourth proprietary survey on tardive dyskinesia. The respondents provided bullish estimates compared to past surveys, which sees prescribing possibly doubling from current levels for Neurocrine's Ingrezza and Teva's (TEVA) Austedo in both mod-severe and mild Tardive Dyskinesia by the end of 2018, Amin tells investors in a research note. The analyst expects Ingrezza to lead Austedo in market share raised his revenue estimates for Neurocrine. Amin keeps a Buy rating on the shares.
01/05/18
01/05/18
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. PriceSmart (PSMT) downgraded to Sector Perform from Outperform at Scotia Howard Weil. 2. Teva (TEVA) downgraded to Underperform from Market Perform at Wells Fargo with analyst David Maris saying Teva shares have now risen approximately 80% from its lows in November. 3. Roku (ROKU) downgraded to Sell from Neutral at Citi with analyst Mark May saying the stock is up 266% from its initial public offering price of $14 just three months ago. 4. Johnson Controls (JCI) downgraded to Neutral from Outperform at Baird with analyst Timothy Wojs saying valuation is fair in light of slower growth, lower free-cash flow conversion, and "choppier" execution. 5. Wingstop (WING) downgraded to Neutral from Outperform at Wedbush with analyst Nick Setyan saying while drivers of "solid" low single-digit same-store sales growth in 2018 exist, current consensus estimates may prove "overly optimistic." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
ALDR Alder Biopharmaceuticals
$12.95

-0.45 (-3.36%)

09/26/17
COWN
09/26/17
INITIATION
Target $20
COWN
Outperform
Alder Biopharmaceuticals initiated with an Outperform at Cowen
Cowen analyst Tyler Van Buren initiated Alder Biopharmaceuticals with an Outperform rating and $20 price target as he believes its eptinezumab has created a differentiated clinical profile that is optimal for patients most severely impacted by migraine. He believes the company's IV infusion will carve out a meaningful opportunity, which will drive Alder shares to his $20 price target.
09/26/17
09/26/17
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. DowDuPont (DWDP) initiated with a Hold at HSBC. 2. Lilis Energy (LLEX) initiated with a Buy at Williams Capital. 3. Alder Biopharmaceuticals (ALDR) initiated with an Outperform at Cowen. 4. Corium (CORI) initiated with a Buy at H.C. Wainwright. 5. Tegna (TGNA) initiated with a Sector Perform at RBC Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/26/17
ADAM
10/26/17
INITIATION
Target $20
ADAM
Buy
Alder Biopharmaceuticals initiated with a Buy at Canaccord
Canaccord initiated Alder Biopharmaceuticals with a Buy and $20 price target.
10/27/17
10/27/17
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. IBM (IBM) initiated with a Buy at Pivotal Research. 2. Alder Biopharmaceuticals (ALDR) initiated with a Buy at Canaccord. 3. Biogen (BIIB) initiated with a Hold at Canaccord. 4. Okta (OKTA) initiated with a Buy at SunTrust. 5. Carvana (CVNA) initiated with a Market Perform at Barrington. 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

INTU

Intuit

$190.41

-1.33 (-0.69%)

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SPY

SPDR S&P 500 ETF Trust

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FB Financial

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FB Financial 3.2M share Secondary priced at $41.25 »

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MYOK

MyoKardia

$50.45

2.15 (4.45%)

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MyoKardia 3.75M share Secondary priced at $49.00 »

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TWOU

2U

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-3.86 (-4.04%)

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2U 3.3M share Secondary priced at $90.00 »

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ARDX

Ardelyx

$4.50

-1.15 (-20.35%)

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Ardelyx 12.5M share Secondary priced at $4.00 »

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LOW

Lowe's

$85.74

-1.63 (-1.87%)

, TGT

Target

$75.42

-1.44 (-1.87%)

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Earnings
Notable companies reporting before tomorrow's open »

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Lowe's

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TGT

Target

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TIF

Tiffany

$102.26

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RL

Ralph Lauren

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INFO

IHS Markit

$51.28

-0.32 (-0.62%)

20:02
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Hot Stocks
IHS Markit expands MarkitSERV trade reporting solution in Asia and Europe »

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CDAY

Ceridian

$34.31

-0.885 (-2.51%)

19:54
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Ceridian analyst commentary at MUFG »

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RMTI

Rockwell Medical

$5.94

-0.06 (-1.00%)

19:20
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Hot Stocks
Rockwell Medical president, CEO Chioini terminated from his positions »

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AMZN

Amazon.com

$1,582.10

-3.45 (-0.22%)

19:16
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Periodicals
Amazon.com has banned some shoppers who make excessive returns, WSJ says »

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CTRP

Ctrip

$43.46

0.48 (1.12%)

, HPE

HP Enterprise

$17.49

-0.01 (-0.06%)

19:03
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Hot Stocks
On The Fly: After Hours Movers »

UP AFTER EARNINGS: Ctrip…

CTRP

Ctrip

$43.46

0.48 (1.12%)

HPE

HP Enterprise

$17.49

-0.01 (-0.06%)

ARCO

Arcos Dorados

$7.55

0.35 (4.86%)

MET

MetLife

$48.48

0.405 (0.84%)

RRGB

Red Robin

$57.80

-2.9 (-4.78%)

TCS

Container Store

$8.23

0.68 (9.01%)

URBN

Urban Outfitters

$41.21

-1.09 (-2.58%)

CRIS

Curis

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0.0211 (4.13%)

IBTX

Independent Bank

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EADSY

Airbus

$0.00

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, BA

Boeing

$355.06

-8.89 (-2.44%)

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Airbus says plane subsidies over, U.S. rejects notion, WSJ says »

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QTNA

Quantenna Communications

$14.94

-0.13 (-0.86%)

18:43
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Initiation
Quantenna Communications initiated at William Blair »

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ALGT

Allegiant Travel

$153.95

-5.15 (-3.24%)

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Allegiant Travel announces tentative dispatchers contract agreement with IBT »

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EA

Electronic Arts

$132.18

-0.73 (-0.55%)

18:30
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Electronic Arts analyst commentary at Baird »

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POOL

Pool Corp.

$145.96

-3.74 (-2.50%)

18:22
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Pool Corp. director Stokely sells 10,000 common shares »

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RRGB

Red Robin

$57.80

-2.9 (-4.78%)

18:16
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Red Robin analyst commentary at Stephens »

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BGS

B&G Foods

$26.50

-0.75 (-2.75%)

18:11
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B&G Foods increases dividend 2.2% to 47.5c »

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  • 22

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CTRP

Ctrip

$43.46

0.48 (1.12%)

18:05
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Hot Stocks
Breaking Hot Stocks news story on Ctrip »

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  • 05

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CTRP

Ctrip

$43.46

0.48 (1.12%)

18:05
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Earnings
Ctrip reports Q1 adjusted earnings per ADS 55c, may not compare to consensus 16c »

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PLBC

Plumas Bancorp

$28.00

(0.00%)

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Plumas Bank agrees to purchase Carson City branch of Mutual of Omaha Bank »

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CTRP

Ctrip

$43.46

0.48 (1.12%)

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Earnings
Breaking Earnings news story on Ctrip »

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CRIS

Curis

$0.53

0.0211 (4.13%)

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Curis announces 1-for-5 reverse stock split »

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TCS

Container Store

$8.23

0.68 (9.01%)

17:47
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Container Store drops 12% after Q4 EPS lower than estimates »

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