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BIVV

Bioverativ

$64.11

1.36 (2.17%)

, SNY

Sanofi

$44.60

0.09 (0.20%)

04:49
01/22/18
01/22
04:49
01/22/18
04:49

Sanofi acquires Bioverativ for $105 per share in cash, or $11.6B

Sanofi (SNY) and Bioverativ (BIIV) have entered into a definitive agreement under which Sanofi will acquire all of the outstanding shares of Bioverativ for $105 per share in cash, representing an equity value of approximately $11.6B. The transaction was unanimously approved by both the Sanofi and Bioverativ boards. The acquisition is expected to be immediately accretive to Sanofi's Business earnings in fiscal 2018 and up to 5% accretive in fiscal 2019. Sanofi is also projected to achieve ROIC in excess of cost of capital within three years. Sanofi expects to "preserve its strong credit rating." Under the terms of the merger agreement, Sanofi will commence a tender offer to acquire all of the outstanding shares of Bioverativ common stock at a price of $105 per share in cash. The $105 per share acquisition price represents a 64% premium to Bioverativ's closing price on January 19, 2018. Sanofi plans to finance the transaction with a combination of cash on hand and through new debt to be raised. The tender offer is not subject to any financing condition. Subject to the satisfaction or waiver of customary closing conditions, the transaction is expected to close within three months. Sanofi believes "factor replacement therapy will remain the standard of care in hemophilia for many years due to excellent safety and its increasingly superior long-acting profile."

BIVV

Bioverativ

$64.11

1.36 (2.17%)

SNY

Sanofi

$44.60

0.09 (0.20%)

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BIVV Bioverativ
$64.11

1.36 (2.17%)

12/18/17
MSCO
12/18/17
NO CHANGE
MSCO
Morgan Stanley sees opportunities in biotech amid 'limited' investor conviction
With clinical catalysts in large-cap Biotechnology limited to only five key Phase III readouts - three of which are from Alexion (ALXN) - investors are describing their 2018 picks in the space as the "least worst" of the group, according to Morgan Stanley analyst Matthew Harrison. However, he believes this lack of conviction creates real opportunity for outsized moves in 2018, with Amgen (AMGN) identified by Harrison as the biggest potential beneficiary of M&A given "its likely newfound access" to about $39B in offshore cash. Other biotech names the analyst highlights on the up side include Biogen (BIIB), BioMarin (BMRN), Biohaven (BHVN) and Sarepta (SRPT). Meanwhile, Harrison highlights his concerns about potential downside for BioVerativ (BIVV) and Innoviva (INVA), on both of which he keeps Underweight ratings.
01/18/18
JEFF
01/18/18
NO CHANGE
Target $79
JEFF
Buy
Bioverativ price target raised to $79 from $70 at Jefferies
Jefferies analyst Eun Yang raised her price target for Bioverativ to $79 after speaking to management and keeps a Buy rating on the shares. The company is confident of Eloctate growth prospects in hemophilia A, and its growth assumptions do not seem aggressive, Yang tells investors in a research note. The analyst's new price target largely reflects Bioverativ's benefits from U.S. tax reform.
01/18/18
FBCO
01/18/18
INITIATION
Target $65
FBCO
Neutral
Bioverativ assumed with a Neutral at Credit Suisse
Credit Suisse analyst Martin Auster assumed coverage of Bioverativ with a Neutral rating and $65 price target. The analyst is cautious on the growth prospects for the company's hemophilia business.
01/18/18
RBCM
01/18/18
NO CHANGE
Target $68
RBCM
Sector Perform
Bioverativ price target raised to $68 from $57 at RBC Capital
RBC Capital analyst Kennen MacKay raised his price target on Bioverativ to $68, saying that he anticipates a strong FY18 guidance that will show the company trading at an attractive valuation relative to peers. The analyst keeps his Sector Perform rating however, citing the "continued debate around Eloctate's longer term erosion potential with Hemlibra's HAVEN-3 full results in the broader non-inhibitor hemeA population looming".
SNY Sanofi
$44.60

0.09 (0.20%)

12/01/17
MSCO
12/01/17
DOWNGRADE
MSCO
Underweight
Sanofi downgraded to Underweight from Overweight at Morgan Stanley
12/06/17
BOFA
12/06/17
DOWNGRADE
BOFA
Neutral
Sanofi downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill analyst Graham Perry downgraded Sanofi to Neutral citing valuation and lack of earnings momentum into 2018.
12/28/17
ARGS
12/28/17
NO CHANGE
Target $470
ARGS
Buy
Regeneron price target lowered to $470 from $540 at Argus
Argus analyst Jasper Hellweg lowered his price target on Regeneron (REGN) to $470 to reflect some of the recent weakness in the stock, but keeps his Buy rating. Hellweg says that while the company's growth has slowed in recent years, it continues to benefit from sales of Eylea, collaboration agreements with Sanofi (SNY) and Bayer (BAYRY) as well as a strong new product pipeline.
01/07/18
PIPR
01/07/18
NO CHANGE
Target $182
PIPR
Overweight
Deal with Sanofi 'good' for Alnylam, says Piper Jaffray
Piper Jaffray analyst Edward Tenthoff notes that under a strategic alliance restructuring, Alnylam (ALNY) is gaining global rights to patisiran and ALN-TTRsc02, and Sanofi (SNY) gains global fitusiran rights. The analyst anticipates patisiran FDA approval in mid'18 and in Europe in late'18. Tenthoff views this as a "good deal" for Alnylam as the company will control global TTR amyloidosis development and commercialization. He reiterates an Overweight rating and $182 price target on Alnylam shares.

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NSTG

NanoString

$12.74

-2.36 (-15.63%)

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ALV

Autoliv

$106.86

1.57 (1.49%)

21:06
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Downgrade
Autoliv rating change  »

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VC

Visteon

$131.71

3.58 (2.79%)

21:06
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Downgrade
Visteon rating change  »

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ABT

Abbott

$62.84

1.05 (1.70%)

, MS

Morgan Stanley

$49.20

0.29 (0.59%)

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Earnings
Notable companies reporting before tomorrow's open »

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ABT

Abbott

$62.84

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MS

Morgan Stanley

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U.S. Bancorp

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TXT

Textron

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0.14 (0.21%)

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ADTN

Adtran

$16.05

0.1 (0.63%)

20:14
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Earnings
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FSBW

FS Bancorp

$61.64

-1.86 (-2.93%)

, ANCB

Anchor Bancorp

$28.50

0.3 (1.06%)

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Hot Stocks
FS Bancorp to merge with Anchor Bancorp in $77M deal »

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FS Bancorp

$61.64

-1.86 (-2.93%)

ANCB

Anchor Bancorp

$28.50

0.3 (1.06%)

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CGC

Canopy Growth

$26.41

-1.19 (-4.31%)

20:06
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Hot Stocks
Breaking Hot Stocks news story on Canopy Growth  »

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BA

Boeing

$356.95

0.94 (0.26%)

19:10
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Boeing awarded $3.9B government contract »

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MRTN

Marten Transport

$22.10

(0.00%)

, UAL

United Continental

$72.66

0.38 (0.53%)

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On The Fly: After Hours Movers »

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MRTN

Marten Transport

$22.10

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UAL

United Continental

$72.66

0.38 (0.53%)

CSX

CSX

$64.42

0.46 (0.72%)

MLNX

Mellanox

$84.85

0.9 (1.07%)

IBKR

Interactive Brokers

$64.65

1.93 (3.08%)

HCSG

Healthcare Services

$42.38

-0.3297 (-0.77%)

TXN

Texas Instruments

$115.80

1.21 (1.06%)

SAH

Sonic Automotive

$20.45

0.3 (1.49%)

CARA

Cara Therapeutics

$21.60

0.435 (2.06%)

CASI

Casi Pharmaceuticals

$7.26

-0.215 (-2.88%)

TLYS

Tilly's

$15.35

0.21 (1.39%)

CLX

Clorox

$135.00

0.71 (0.53%)

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BHP

BHP Billiton

$48.73

0.24 (0.49%)

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BHP Billiton sees FY19 copper equivalent output broadly in line with FY18 »

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BHP

BHP Billiton

$48.73

0.24 (0.49%)

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BHP Billiton reports Q4 petroleum production 49 MMBOE, down 6% »

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CLX

Clorox

$135.00

0.71 (0.53%)

18:31
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Clorox rating change at Goldman Sachs »

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NCS

NCI Building

$20.70

0.15 (0.73%)

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AMX

America Movil, also tag AMOV

$17.39

-0.35 (-1.97%)

, AMOV

America Movil, also tag AMX

$17.45

-0.19 (-1.08%)

18:16
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Earnings
America Movil reports Q2 operating profit MXN32.6M, up 4.8% from last year »

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AMX

America Movil, also tag AMOV

$17.39

-0.35 (-1.97%)

AMOV

America Movil, also tag AMX

$17.45

-0.19 (-1.08%)

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AMZN

Amazon.com

$1,844.00

21.98 (1.21%)

18:08
07/17/18
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18:08
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18:08
Recommendations
Amazon.com analyst commentary at Piper Jaffray »

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BRK.A

Berkshire Hathaway

$288,482.00

-1118 (-0.39%)

, BRK.B

Berkshire Hathaway

$190.47

-1.52 (-0.79%)

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Hot Stocks
Berkshire Hathaway amends share repurchase program »

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BRK.A

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$288,482.00

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Berkshire Hathaway

$190.47

-1.52 (-0.79%)

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PNFP

Pinnacle Financial

$60.10

-0.5 (-0.83%)

18:02
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Earnings
Pinnacle Financial reports Q2 EPS $1.15, consensus $1.14 »

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CHDN

Churchill Downs

$304.60

1.1 (0.36%)

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CE

Celanese

$110.22

1.6 (1.47%)

18:01
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Celanese announces acetic acid price increases in Asia »

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BLK

BlackRock

$504.89

1.14 (0.23%)

17:51
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BlackRock raises quarterly dividend to $3.13 from $2.88 per share »

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DRNA

Dicerna

$12.47

0.57 (4.79%)

17:45
07/17/18
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Conference/Events
Dicerna management to meet with SunTrust »

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  • 17

    Jul

GOOG

Alphabet

$1,198.81

14.57 (1.23%)

, GOOGL

Alphabet Class A

$1,213.65

17.07 (1.43%)

17:44
07/17/18
07/17
17:44
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17:44
Periodicals
Google faces record EU fine over Android dominance, FT reports »

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GOOG

Alphabet

$1,198.81

14.57 (1.23%)

GOOGL

Alphabet Class A

$1,213.65

17.07 (1.43%)

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BA

Boeing

$356.95

0.94 (0.26%)

17:39
07/17/18
07/17
17:39
07/17/18
17:39
Periodicals
Breaking Periodicals news story on Boeing »

Boeing awarded $3.9B…

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