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AGIO

Agios Pharmaceuticals

$73.22

-1.23 (-1.65%)

, JNCE

Jounce Therapeutics

$18.48

-1.23 (-6.24%)

09:48
04/09/18
04/09
09:48
04/09/18
09:48

Agios, Jounce rise on report of potential acquisition interest by Celgene

Shares of Agios Pharmaceuticals (AGIO) and Jounce Therapeutics (JNCE) are rising following a report that the companies may be potential acquisition targets for Celgene (CELG). M&A TARGETS: Celgene is on the hunt for acquisition targets in an effort to offset the loss of patent protection on cancer treatment Revlimid, which accounted for 63% of overall revenue in 2017, The Financial Times reported Sunday. According to a source, Celgene is "absolutely" working on acquisitions to bolster the pipeline as investors press management to conduct further deals following the recent $9B takeover of cancer cell therapy company Juno. Potential targets include Agios, which manufactures a drug for a type of leukemia, and Jounce, which is developing a new kind of cancer immunotherapy. The companies have market capitalizations of $4.3B and $611M, respectively. Celgene is also reviewing other companies developing drugs for cancer and blood disorders and could push into an area of medicine where it has not established much of a presence, according to one source. Celgene, which has already given hundreds of millions of dollars to Agios and Jounce through partnership deals in exchange for rights to some of their drugs, is studying whether buying the companies could help accelerate the development and commercialization of their drugs. The move comes as Revlimid potentially faces increased competition from cheaper "copycat" versions from 2020 if generic drug makers succeed in legal efforts to overturn its patents and after the Food and Drug Administration refused to review an approval application for Celgene's experimental multiple sclerosis drug ozanimod. REVLIMID PATENT CONCERNS: On March 28, Leerink analyst Geoffrey Porges said his sum-of-the-parts analysis suggested Celgene shares are discounting zero cash flow from Revlimid after 2022 and no approval ever of ozanimod or luspatercept. His "base case" scenario, which includes a slow revenue decline for Revlimid post 2022 and ozanimod's approval in multiple sclerosis during 2019 with a 50% probability of success in all indications, resulted in a net present value of $140 per share. Porges' "worst case" scenario, which assumes no Revlimid contribution post 2022 and neither ozanimod nor luspatercept, has the stock worth $87. Celgene shares discounting "such a bad outlook" is no surprise after the company's "recent missteps and misjudgments," but the stock offers "remarkable upside" to investors willing to step in at the current "distressed" valuation," Porges said. He kept an Outperform rating on Celgene with a $123 price target. PRICE ACTION: Agios Pharmaceuticals rose 6.7% to $78.09, while Jounce Therapeutics was up 8.2% to $20.00 in morning trading. Meanwhile, Celgene is up 0.5% to $87.39.

AGIO

Agios Pharmaceuticals

$73.22

-1.23 (-1.65%)

JNCE

Jounce Therapeutics

$18.48

-1.23 (-6.24%)

  • 09

    Apr

  • 08

    May

  • 21

    Aug

AGIO Agios Pharmaceuticals
$73.22

-1.23 (-1.65%)

02/14/18
OPCO
02/14/18
DOWNGRADE
OPCO
Perform
Agios Pharmaceuticals downgraded to Perform from Outperform at Oppenheimer
02/14/18
OPCO
02/14/18
DOWNGRADE
OPCO
Perform
Oppenheimer downgrades Agios on valuation after Q4 results
Oppenheimer analyst Leah Rush Cann downgraded Agios Pharmaceuticals to Perform from Outperform following this morning's Q4 results. The analyst, who rescinded her price target, says that while the company's pipeline programs are moving forward, the shares trade inline with her valuation following the substantial rally over the previous 12 months. Cann adds Agios's recent capital raise resulted in approximately 17% dilution.
02/15/18
FBCO
02/15/18
NO CHANGE
Target $80
FBCO
Outperform
Agios Pharmaceuticals price target raised to $80 from $66 at Credit Suisse
Credit Suisse analyst Alethia Young raised her price target for Agios Pharmaceuticals to $80 from $66 as she sees upside opportunities in her valuation model related to newly diagnosed success in ivosidenib, PKD, AG-270 and DHODH. The analyst reiterates an Outperform rating on the shares.
02/15/18
RHCO
02/15/18
NO CHANGE
Target $101
RHCO
Buy
Agios Pharmaceuticals price target raised to $101 from $80 at SunTrust
SunTrust analyst Yatin Suneja raised his price target on Agios Pharmaceuticals to $101, citing increasing value of AG-348 that is expected to begin in Q2 of this year. The analyst also points to AG-270 trial starting in Q1 of this year and a perioperative "window" study of ivosidenib/AG-881 in glioma as potential catalysts. Suneja concludes that 4 Agios Pharmaceuticals is "making rapid progress on al fronts", keeping his Buy rating on the stock.
JNCE Jounce Therapeutics
$18.48

-1.23 (-6.24%)

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TRVG

Trivago

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-1.65 (-25.94%)

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HighPoint Resources

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0.14 (2.15%)

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AVY

Avery Dennison

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1.195 (1.13%)

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WYN

Wyndham

$117.67

1.83 (1.58%)

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La Quinta

$19.70

0.08 (0.41%)

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La Quinta

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SMMT

Summit Therapeutics

$13.66

0.13 (0.96%)

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ABBV

AbbVie

$91.91

0.57 (0.62%)

, ACOR

Acorda Therapeutics

$22.95

-0.15 (-0.65%)

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ABBV

AbbVie

$91.91

0.57 (0.62%)

ACOR

Acorda Therapeutics

$22.95

-0.15 (-0.65%)

ALXN

Alexion

$106.07

-0.37 (-0.35%)

AKCA

Akcea Therapeutics

$26.85

0.02 (0.07%)

RHHBY

Roche

TEVA

Teva

$17.27

-0.28 (-1.60%)

UBS

UBS

$16.78

-0.095 (-0.56%)

MDT

Medtronic

$79.47

0.12 (0.15%)

MCK

McKesson

$151.70

2.76 (1.85%)

NVTA

Invitae

$5.53

-0.15 (-2.64%)

IONS

Ionis Pharmaceuticals

$43.98

-1.35 (-2.98%)

IPXL

Impax

$19.25

-0.65 (-3.27%)

DNA

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DGX

Quest Diagnostics

$101.17

1.42 (1.42%)

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Eisai

DEPO

Depomed

$6.66

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CPRX

Catalyst Pharmaceuticals

$2.64

0.04 (1.54%)

BSX

Boston Scientific

$29.44

1.01 (3.55%)

BMRN

BioMarin

$81.41

0.33 (0.41%)

MYL

Mylan

$38.93

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NBIX

Neurocrine

$78.13

-0.3 (-0.38%)

NVS

Novartis

$76.42

-0.58 (-0.75%)

PFE

Pfizer

$36.69

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RARX

RA Pharmaceuticals

$5.76

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SNY

Sanofi

$40.11

0.335 (0.84%)

SYK

Stryker

$165.44

0.77 (0.47%)

SUPN

Supernus

$47.30

0.55 (1.18%)

LLY

Eli Lilly

$81.17

1.08 (1.35%)

BAYRY

Bayer

AMGN

Amgen

$174.83

2.92 (1.70%)

ALNY

Alnylam

$94.35

-0.34 (-0.36%)

BIIB

Biogen

$269.47

7.45 (2.84%)

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SCPH

scPharmaceuticals

$9.92

-0.1 (-1.00%)

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scPharmaceuticals management to meet with Jefferies »

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ALNA

Allena Pharmaceuticals

$14.77

0.845 (6.07%)

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Allena Pharmaceuticals management to meet with Jefferies »

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RIO

Rio Tinto

$55.24

-0.44 (-0.79%)

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Rio Tinto management to meet with RBC Capital »

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SPNE

SeaSpine

$11.05

-0.11 (-0.99%)

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PYPL

PayPal

$74.00

-1.29 (-1.71%)

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NFLX

Netflix

$305.73

-1.51 (-0.49%)

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ADOM

Adomani

$0.71

-0.0401 (-5.35%)

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AudioEye

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ADOM

Adomani

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AEYE

AudioEye

AMBS

Amarantus Bioscience

AZRX

AzurRx BioPharma

$2.66

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CTHR

Charles & Colvard

$1.36

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DPW

DPW Holdings

$0.97

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GMRE

Global Medical REIT

$7.81

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ISDR

Issuer Direct Corp.

$16.00

0.2 (1.27%)

ISR

IsoRay

$0.45

0.0046 (1.03%)

MNGA

Magnegas

$0.74

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NEWT

Newtek Business Services

$17.78

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OMN

Omnova Solutions

$11.35

0.05 (0.44%)

PBIO

Pressure BioSciences

PFIE

Profire Energy

$3.94

0.27 (7.36%)

SGLB

Sigma Labs

$1.14

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SNYR

Synergy Strips

SRAX

Social Reality

$4.62

0.15 (3.36%)

SSFT

ScanSoft

VNRX

VolitionRx

$2.12

0.02 (0.95%)

XPLR

Xplore Technologies

$3.32

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PKOH

Park-Ohio

$37.50

-0.35 (-0.92%)

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