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SRPT

Sarepta

$62.38

0.54 (0.87%)

, KMG

KMG Chemicals

$63.27

-0.89 (-1.39%)

10:38
01/22/18
01/22
10:38
01/22/18
10:38

On The Fly: Top five analyst initiations

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Sarepta (SRPT) assumed with an Outperform at RBC Capital. 2. KMG Chemicals (KMG) initiated with a Neutral at Goldman Sachs. 3. Okta (OKTA) initiated with an Outperform at FBN Securities. 4. CBRE Group (CBG) initiated with an In Line at Evercore ISI. 5. Orion Engineered (OEC) initiated with a Buy at Jefferies. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

SRPT

Sarepta

$62.38

0.54 (0.87%)

KMG

KMG Chemicals

$63.27

-0.89 (-1.39%)

OKTA

Okta

$29.18

2.18 (8.07%)

CBG

Changed ticker symbol to CBRE

$45.55

-0.33 (-0.72%)

OEC

Orion Engineered

$28.95

0.7 (2.48%)

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  • 26

    Feb

SRPT Sarepta
$62.38

0.54 (0.87%)

01/09/18
JMPS
01/09/18
NO CHANGE
Target $60
JMPS
Outperform
JMP sees Sarepta's FDA meeting as potentially significant inflection point
JMP Securities analyst Liisa Bayko said Sarepta has continued its "impressive" Exondys 51 launch and noted that the company's 2018 revenue guidance of $295M-$305M was above her previous estimate and nearly in-line with consensus. She sees a potentially significant near-term inflection point when Sarepta meets with the FDA this quarter to discuss golodirsen for exon 53 mutations, stating that if the FDA allows a golodirsen submission based on dystrophin data the shares would rise sharply as it could be read as a signal of a relatively streamlined regulatory path for follow-on exon-skipper candidates. Bayko keeps an Outperform rating and $60 price target on Sarepta shares.
01/22/18
RBCM
01/22/18
INITIATION
Target $80
RBCM
Outperform
Sarepta assumed with an Outperform at RBC Capital
RBC Capital analyst Brian Abrahams assumed Sarepta with an Outperform rating, raising his price target to $80 from $67 while removing the Speculative Risk qualifier. Abrahams cites his recent meeting with the company management following its guidance on Exondys 51 sales, saying that 2018 will "crystallize Exondys's strong launch and yield key clarity on multiple underappreciated long-term growth opportunities: EU Exondys, golo/casi, gene tx".
01/19/18
LEER
01/19/18
NO CHANGE
Target $77
LEER
Outperform
Sarepta price target raised to $77 from $72 at Leerink
Leerink analyst Joseph Schwartz raised his price target for Sarepta Therapeutics to $77 after taking a closer at the company's use of peptideconjugated phosphorodiamidate morpholino oligomer technology. The precedent set by Exondys51 and data on the dystrophin expression in the diaphragm suggest that low doses of SRP-5051 could be the next improved version of Exondys51, Schwartz tells investors in a research note. He believes SRP-5051 could solidify Sarepta's position in duchenne muscular dystrophy "for the foreseeable future." The analyst reiterates an Outperform rating on the shares.
01/04/18
RHCO
01/04/18
INITIATION
Target $24
RHCO
Buy
Summit Therapeutics initiated with a Buy at SunTrust
SunTrust analyst Edward Nash initiated Summit Therapeutics (SMMT) with a Buy rating and a price target of $24. Nash says the company's ezutromid drug has the potential to address all 50K cases of Duchenne muscular dystrophy in the developed world, expecting the key interim data announced this quarter to be strong. The analyst notes that DMD remains a "high profile orphan disease", and only Sarepta's (SRPT) Exondys 51 treatment address about 13% of its patients.
KMG KMG Chemicals
$63.27

-0.89 (-1.39%)

12/13/17
KEYB
12/13/17
NO CHANGE
Target $70
KEYB
Overweight
KMG Chemicals price target raised to $70 from $63 at KeyBanc
KeyBanc analyst Michael Sison raised his price target for KMG Chemicals to $70 from $63 following Q1 results. With it quickly improving EBITDA margins, the analyst believes that KMG is moving into the upper tier of specialty chemical companies from a margin perspective, which should warrant some multiple expansion. He reiterates an Overweight rating on the shares.
01/22/18
GSCO
01/22/18
INITIATION
Target $73
GSCO
Neutral
KMG Chemicals initiated with a Neutral at Goldman Sachs
Goldman Sachs started KMG Chemicals with a Neutral rating and $73 price target.
11/21/17
KEYB
11/21/17
INITIATION
Target $63
KEYB
Overweight
KMG Chemicals initiated with an Overweight at KeyBanc
KeyBanc analyst Michael Sison started KMG Chemicals with an Overweight rating and $63 price target. The company has "marched up in the higher quality echelon of the chemical industry" with the recent acquisition of Flowchem, the analyst contends.
01/22/18
GSCO
01/22/18
INITIATION
Target $73
GSCO
Neutral
KMG Chemicals initiated with a Neutral at Goldman Sachs
Goldman analyst Robert Koort initiated KMG Chemicals with a Neutral and $73 price target citing valuation.
OKTA Okta
$29.18

2.18 (8.07%)

01/22/18
FBNS
01/22/18
INITIATION
Target $35
FBNS
Outperform
Okta initiated with an Outperform at FBN Securities
FBN Securities analyst Shebly Seyrafi started Okta with an Outperform rating and $35 price target. The company is a "leading player" in the access/identity management space and has been "exhibiting very strong growth trends recently," Seyrafi tells investors in a research note. The analyst sees a lot of upside potential in the company's international growth.
01/22/18
FBNS
01/22/18
INITIATION
Target $35
FBNS
Outperform
Okta initiated with an Outperform at FBN Securities
FBN Securities initiated Okta with an Outperform and $35 price target.
12/08/17
JPMS
12/08/17
NO CHANGE
JPMS
JPMorgan sees AWS single sign-on having limited impact on Okta
Shares of Okta (OKTA) are trading down after Amazon Web Services (AMZN) introduced its own basic single sign-on solution. JPMorgan analyst Sterling Auty, however, believes the product will not have much of an impact on Okta. Similar to Microsoft (MSFT) Azure, Amazon's product will be good for applications only running in AWS or to control access to a limited number of other SaaS applications, Auty tells investors in a research note. The major advantage for Okta is the ability to control access to all applications regardless of whether they are deployed on premise, in AWS, in Azure, in Google (GOOG, GOOGL), or even a SaaS application like Salesforce (CRM), the analyst contends. He believes Okta's "secret sauce lies in being platform neutral." Auty keeps an Overweight rating on the shares. Okta in morning trading is down 5%, or $1.42, to $27.75.
12/11/17
KEYB
12/11/17
NO CHANGE
Target $35
KEYB
Overweight
AWS SSO presents more headline risk than actual for Okta, says KeyBanc
KeyBanc analyst Rob Owens notes that Amazon (AMZN) Web Services introduced AWS SSO, a service that makes it easy to centrally manage SSO access to multiple AWS account and business applications. While competitive with the Okta (OKTA) SSO offering, the analyst feels this will have little-to-no impact in the near term to Okta's robust capability and value proposition. Owens reiterates an Overweight rating and $35 price target on Okta's shares, and would use any weakness as a buying opportunity.
CBG Changed ticker symbol to CBRE
$45.55

-0.33 (-0.72%)

01/22/18
EVER
01/22/18
INITIATION
Target $48
EVER
In Line
CBRE Group initiated with an In Line at Evercore ISI
Evercore ISI analyst Steve Sakwa initiated CBRE Group with an In Line and $48 price target.
07/26/17
UBSW
07/26/17
INITIATION
Target $41
UBSW
Neutral
CBRE Group initiated with a Neutral at UBS
UBS analyst Nick Yulico started CBRE Group with a Neutral rating and $41 price target. The commercial real estate cycle is in the later innings and deal-based transaction revenue growth will be pressured, the analyst contends.
OEC Orion Engineered
$28.95

0.7 (2.48%)

01/22/18
JEFF
01/22/18
INITIATION
Target $38
JEFF
Buy
Orion Engineered initiated with a Buy at Jefferies
Jefferies analyst Laurence Alexander started Orion Engineered Carbons with a Buy rating and $38 price target. The analyst views the carbon black industry dynamics as attractive.
07/14/17
GSCO
07/14/17
UPGRADE
GSCO
Buy
Orion Engineered upgraded to Buy from Neutral at Goldman Sachs
Goldman analyst Stephen Benson upgraded Orion Engineered to Buy based on expectations for price increases in Specialty CB and margin improvement in Rubber CB through restructuring.
11/06/17
JPMS
11/06/17
UPGRADE
Target $29
JPMS
Overweight
Orion Engineered upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Jeffrey Zekauskas upgraded Orion Engineered Carbons to Overweight and raised his price target for the shares to $29 from $23. Carbon black business fundamentals are improving, which creates an attractive risk/reward profile, Zekauskas tells investors in a research note. He cautions, however, that equity issuance by Kinove, Orion's 40% owner, could "introduce intermittent negative volatility into the share price over shorter periods of time."
08/07/17
JPMS
08/07/17
DOWNGRADE
Target $23
JPMS
Neutral
Orion Engineered downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Jeffrey Zekauskas downgraded Orion Engineered to Neutral citing citing valuation with the shares up 31% over the past year. The analyst also expects the company's EBITDA growth will see pressure in the coming quarters due to currency translation effects. He lowered his price target for the shares to $23 from $25.

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