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NLNK

NewLink Genetics

$4.20

-3.12 (-42.62%)

, INCY

Incyte

$64.02

-19.05 (-22.93%)

05:15
04/09/18
04/09
05:15
04/09/18
05:15

NewLink Genetics downgraded to Hold with $4 target at Jefferies

Jefferies analyst Biren Amin late Friday downgraded NewLink Genetics (NLNK) to Hold from Buy and cut his price target for the shares to $4 from $17. The stock closed Friday down 43%, or $3.12, to $4.20. The analyst does not see a scenario in which the company's IDO inhibitor can avoid the same fate as Incyte and Merck's epacadostat plus Keytruda failed study.

NLNK

NewLink Genetics

$4.20

-3.12 (-42.62%)

INCY

Incyte

$64.02

-19.05 (-22.93%)

MRK

Merck

$53.36

-1.17 (-2.15%)

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NLNK NewLink Genetics
$4.20

-3.12 (-42.62%)

04/09/18
BARD
04/09/18
DOWNGRADE
BARD
Neutral
NewLink Genetics downgraded to Neutral from Outperform at Baird
04/06/18
JEFF
04/06/18
DOWNGRADE
JEFF
Hold
NewLink Genetics downgraded to Hold from Buy at Jefferies
04/06/18
BOFA
04/06/18
DOWNGRADE
BOFA
Neutral
NewLink Genetics downgraded to Neutral from Buy at BofA/Merrill
04/06/18
RHCO
04/06/18
DOWNGRADE
RHCO
Hold
NewLink Genetics downgraded to Hold from Buy at SunTrust
INCY Incyte
$64.02

-19.05 (-22.93%)

04/06/18
04/06/18
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. Incyte (INCY) downgraded to Neutral from Buy at Guggenheim and to Market Perform from Outperform at William Blair. 2. Ormat Technologies (ORA) downgraded to Perform from Outperform at Oppenheimer with analyst Noah Kaye citing valuation. 3. Sprague Resources (SRLP) downgraded to Underweight from Neutral at JPMorgan with analyst Andrew Burd citing the stock's year-to-date outperformance for the downgrade. 4. Banc of California (BANC) downgraded to Underperform from Neutral at BofA/Merrill with analyst Ebrahim Poonwala saying the company's new management team is working towards achieving its long-term strategic targets but is cautious on elevated execution risk given the balance sheet overhaul and lower quality deposit base. 5. Xilinx (XLNX) downgraded to Underweight from Neutral at JPMorgan with analyst Harlan Sur saying he believes multiple compression is likely with basestation deployment in China likely to decline in 2018. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/06/18
CANT
04/06/18
NO CHANGE
Target $26
CANT
Overweight
Cantor says premature to assume NewLink trial will fail like Incyte's
NewLink Genetics' (NLNK) indoximod, which acts as a tryptophan mimetic rather than an IDO enzymatic inhibitor, has shown differentiated data versus Incyte's (INCY) epacadostat, Cantor Fitzgerald analyst Mara Goldstein tells investors in a research note. NewLink is trading down 37.5%, or $2.75, to $4.57 after Incyte announced that its ECHO-301 study of epacadostat plus Merck's (MRK) Keytruda versus Keytruda alone was unsuccessful in treating advanced melanoma. Goldstein thinks assuming failure of indoximod "may be premature," but she acknowledges that NewLink shares are likely to be pressured with the company's Phase III trial end likely over a year away. If indoximod is truly differentiated, however, NewLink shares will be higher than $26 given the "now likely limited competition," Goldstein contends. She reiterates an Overweight rating on the shares with a $26 price target.
04/06/18
MZHO
04/06/18
NO CHANGE
Target $103
MZHO
Buy
Mizuho says failure of Incyte's epacadostat ups chances of Nektar takeover
Mizuho analyst Difei Yang raised her price target on Nektar Therapeutics (NKTR) to $103 from $89 after Incyte (INCY) announced this morning the failure of epacadostat in combination with Merck's (MRK) Keytruda in a phase 3 study in melanoma patients. Recent clinical data presented by Nektar reinforced her view of NKTR-214 as one of the most impressive combo agent for checkpoint inhibitors, said Yang, who believes that the failure of epacadostat raises the possibility of a takeout by Bristol-Myers (BMY) in the coming months. She maintains a Buy rating on Nektar shares, which are down 8.5% to $92.75 in afternoon trading.
04/06/18
GUGG
04/06/18
DOWNGRADE
GUGG
Neutral
Incyte downgraded to Neutral from Buy at Guggenheim
MRK Merck
$53.36

-1.17 (-2.15%)

04/06/18
WBLR
04/06/18
DOWNGRADE
WBLR
Market Perform
William Blair downgrades Incyte after metastatic melanoma study failure
William Blair analyst Katherine Xu downgraded Incyte (INCY) to Market Perform from Outperform after the company and partner Merck (MRK) announced that ECHO-301 did not meet one of the primary endpoints of improving progression-free survival and that overall survival, the other co-primary endpoint, was not expected to be met either. After taking epacadostat out of her model, the analyst's fair value estimate for Incyte drops to $88 from $170. The stock in premarket trading is down 21%, or $17.08, to $65.99. It is unclear whether the biomarker data derived from ECHO-301 could guide other Phase III studies, and whether the other Phase III studies are to continue, Xu tells investors in a research note. She sees the next key catalysts for Incyte shares as the baricitinib advisory panel on April 23, and data from Jakafi Phase II pivotal REACH1 study in steroid-refractory acute graft-versus-host disease in the first half 2018.
04/05/18
04/05/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Merck (MRK) upgraded to Overweight from Equal Weight at Barclays with analyst Geoffrey Meacham saying he believes the company will continue to take share in first-line lung cancer, driven by positive KN-189 and KN-042 data. 2. Acuity Brands (AYI) upgraded to Outperform from Market Perform at JMP Securities with analyst Joseph Osha saying he believes the stock is finally trading at a "reasonable valuation based on reasonable expectations." 3. AMD (AMD) upgraded to Buy from Hold at Stifel with analyst Kevin Cassidy citing valuation and the company's margin expansion potential. 4. Tiffany (TIF) upgraded to Buy from Hold at Loop Capital with analyst Laura Champine saying her initial meeting with the company's new CEO Alessandro Bogliogo added to her confidence. 5. Citi (C) and Wells Fargo (WFC) were upgraded to Buy from Neutral at UBS. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

SPY

SPDR S&P 500 ETF Trust

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Federal judge orders review of Keystone XL oil pipeline, Reuters reports »

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TEVA

Teva

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Mylan

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0.12 (0.32%)

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Hot Stocks
Teva granted FDA approval of first generic version of EpiPen »

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Mylan

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Alphabet

$1,223.00

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Alphabet Class A

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6.7 (0.54%)

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Google workers upset about company making censored engine for China, NYT says »

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Alphabet

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Alphabet Class A

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CFTC to hold a podcast on Agriculture Block Trade Analysis »

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HAFC

Hanmi Financial

$25.70

0.4 (1.58%)

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Hanmi Financial announces receipt of all regulatory approvals for SWNB merger »

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CLF

Cleveland-Cliffs

$9.89

0.05 (0.51%)

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Repeat call spreads in Cleveland Cliffs »

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NWBI

Northwest Bancshares

$18.31

0.12 (0.66%)

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Northwest Bancshares chairman William Wagner sells over 64K shares »

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TEVA

Teva

$23.47

1 (4.45%)

, MYL

Mylan

$37.84

0.02 (0.05%)

12:57
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08/16
12:57
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12:57
Hot Stocks
Teva rises, Mylan dips after FDA reported to approve first generic EpiPen »

Shares of Mylan (MYL)…

TEVA

Teva

$23.47

1 (4.45%)

MYL

Mylan

$37.84

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MYL

Mylan

$37.85

0.03 (0.08%)

, TEVA

Teva

$23.45

0.975 (4.34%)

12:53
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08/16
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Periodicals
Breaking Periodicals news story on Mylan, Teva »

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MYL

Mylan

$37.85

0.03 (0.08%)

TEVA

Teva

$23.45

0.975 (4.34%)

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DE

Deere

$137.51

1.81 (1.33%)

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NVDA

Nvidia

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Applied Materials

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NVDA

Nvidia

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AMAT

Applied Materials

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JWN

Nordstrom

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ADM

Archer Daniels

$50.05

0.62 (1.25%)

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GOOG

Alphabet

$1,225.60

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Alphabet Class A

$1,241.50

9.2 (0.75%)

12:38
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GOOG

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AMZN

Amazon.com

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BABA

Alibaba

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AAPL

Apple

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SPY

SPDR S&P 500 ETF Trust

$285.01

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S&P 500

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BA

Boeing

$345.54

13.81 (4.16%)

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EWH

MSCI Hong Kong Index

$23.83

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One day option play opened in iShares MSCI Hong Kong Fund »

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$NSD

NASDAQ Market Internals

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NYSE Market Internals

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12:15
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Atlanta Fed's Q3 GPNow estimate was held at 4.3% »

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CMG

Chipotle

$525.43

-0.44 (-0.08%)

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Chipotle finds cause of foodborne illness at Ohio location, CNBC says »

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TIF

Tiffany

$127.95

2.23 (1.77%)

, BABA

Alibaba

$175.17

5.37 (3.16%)

12:13
08/16/18
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Tiffany to sell on Alibaba's 'Luxury Pavilion' platform on Tmall, Axios reports »

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TIF

Tiffany

$127.95

2.23 (1.77%)

BABA

Alibaba

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