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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%)

02/15/18
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.
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.
02/14/18
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.
02/14/18
OPCO
02/14/18
DOWNGRADE
OPCO
Perform
Agios Pharmaceuticals downgraded to Perform from Outperform at Oppenheimer
JNCE Jounce Therapeutics
$18.48

-1.23 (-6.24%)

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SITO

Sito Mobile

$1.12

0.1462 (15.01%)

16:38
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LHCG

LHC Group

$96.20

3.08 (3.31%)

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REDU

Rise Education

$10.20

-0.22 (-2.11%)

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Rise Education announces $30M share repurchase program »

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EHC

Encompass Health

$72.31

0.81 (1.13%)

16:37
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Initiation
Encompass Health initiated  »

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HTHT

Huazhu Group

$28.59

0.64 (2.29%)

16:37
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Earnings
Huazhu Group sees FY18 revenue growth at high end of 18%-22% range »

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UHS

Universal Health

$127.90

0.61 (0.48%)

16:36
11/15/18
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16:36
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16:36
Initiation
Universal Health initiated  »

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HTHT

Huazhu Group

$28.59

0.64 (2.29%)

16:36
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Earnings
Breaking Earnings news story on Huazhu Group »

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HTHT

Huazhu Group

$28.59

0.64 (2.29%)

16:36
11/15/18
11/15
16:36
11/15/18
16:36
Earnings
Huazhu Group reports Q3 adjusted EPS 24c, one estimate 27c »

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REDU

Rise Education

$10.20

-0.22 (-2.11%)

16:35
11/15/18
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16:35
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16:35
Earnings
Rise Education reports Q3 EPS 9c, two estimates 12c »

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PEP

PepsiCo

$116.81

0.14 (0.12%)

16:35
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16:35
Hot Stocks
PepsiCo maintains 92.75c per share dividend »

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16:34
11/15/18
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16:34
General news
Money Supply M2 Weekly Change data reported »

Week of 11/5 Money Supply…

16:34
11/15/18
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16:34
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16:34
General news
Fed Balance Sheet Level data reported »

Week of 11/14 Fed Balance…

AMH

American Homes 4 Rent

$19.87

-0.42 (-2.07%)

16:34
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16:34
Downgrade
American Homes 4 Rent rating change  »

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UNVR

Univar

$23.10

0.07 (0.30%)

16:34
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Univar, Buckman reach distribution pact for U.S., Canada »

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BMY

Bristol-Myers

$53.28

0.67 (1.27%)

16:33
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Hot Stocks
Bristol-Myers receives positive CHMP opinion recommending Opdivo plus Yervoy »

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KAMN

Kaman

$57.82

0.41 (0.71%)

16:32
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Hot Stocks
Kaman awarded $52M addition to Option 14 of its USAF JPF order »

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WMT

Walmart

$99.62

-1.96 (-1.93%)

, CSCO

Cisco

$46.77

2.42 (5.46%)

16:32
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16:32
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OnTheFly
Fly Intel: Wall Street's top stories for Thursday »

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WMT

Walmart

$99.62

-1.96 (-1.93%)

CSCO

Cisco

$46.77

2.42 (5.46%)

FB

Facebook

$143.86

-0.39 (-0.27%)

QURE

uniQure

$31.00

8.21 (36.02%)

ORCL

Oracle

$50.64

1.8 (3.69%)

BRK.A

Berkshire Hathaway

$325,810.00

1410 (0.43%)

PCG

PG&E

$17.77

-7.89 (-30.75%)

DDS

Dillard's

$62.62

-11.01 (-14.95%)

NTAP

NetApp

$68.84

-9.21 (-11.80%)

BRK.B

Berkshire Hathaway

$217.49

1.465 (0.68%)

RYB

RYB Education

$7.82

-8.99 (-53.48%)

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INTC

Intel

$48.12

1.03 (2.19%)

16:31
11/15/18
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Hot Stocks
Intel board approves $15B increase in authorized stock repurchase program »

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TGT

Target

$80.76

-2.35 (-2.83%)

16:31
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16:31
Initiation
Target initiated  »

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NVDA

Nvidia

$202.65

5.43 (2.75%)

16:30
11/15/18
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16:30
Hot Stocks
Nvidia board authorizes additional $7B under share buyback program »

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LTRX

Lantronix

$3.51

0.03 (0.86%)

16:30
11/15/18
11/15
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16:30
Syndicate
Breaking Syndicate news story on Lantronix »

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  • 04

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NVDA

Nvidia

$202.65

5.43 (2.75%)

16:30
11/15/18
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Hot Stocks
Nvidia raises quarterly dividend 7% to 16c per share »

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16:30
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Options
Preliminary option volume of 24.1M today »

Preliminary option volume…

GOGL

Golden Ocean

$6.68

0.19 (2.93%)

, SALT

Scorpio Bulkers

$5.71

0.115 (2.06%)

16:29
11/15/18
11/15
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16:29
Initiation
Golden Ocean, Scorpio Bulkers initiated  »

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Golden Ocean

$6.68

0.19 (2.93%)

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Scorpio Bulkers

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NVDA

Nvidia

$202.65

5.43 (2.75%)

16:28
11/15/18
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Earnings
Nvidia sees Q4 revenue $2.7B, +/- 2%, consensus $3.4B »

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