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MNK

Mallinckrodt

$13.84

-1.06 (-7.11%)

, VRX

Ticker changed BHC

$16.59

0.355 (2.19%)

15:39
04/12/18
04/12
15:39
04/12/18
15:39

Wells says suit against Salix may have been filed by Mallinckrodt whistleblower

Wells Fargo analyst David Maris said he found reference to a lawsuit filed by a Rasivinder Dhaliwal against Salix Pharmaceuticals in January 2015, thought he has not been able to confirm that this Rasivinder Dhaliwal is the same one who filed a recent whistleblower lawsuit against Mallinckrodt (MNK). Maris previously stated in a note to investors earlier today that Mallinckrodt strongly disagrees with the allegations, believes the suit is baseless, and plans to defend itself vigorously. The Fly notes that Valeant (VRX) acquired Salix in 2015.

MNK

Mallinckrodt

$13.84

-1.06 (-7.11%)

VRX

Ticker changed BHC

$16.59

0.355 (2.19%)

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MNK Mallinckrodt
$13.84

-1.06 (-7.11%)

04/12/18
04/12/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Mallinckrodt (MNK) initiated with a Hold at SunTrust. 2. Hershey (HSY) initiated with a Neutral at Piper Jaffray. 3. Autoliv (ALV) initiated with a Hold at Cross Research. 4. Leap Therapeutics (LPTX) initiated with a Buy at H.C. Wainwright. 5. Monolithic Power (MPWR) initiated with a Strong Buy at Raymond James. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/12/18
WELS
04/12/18
NO CHANGE
WELS
Market Perform
Mallinckrodt strongly disagrees with whistleblower suit, says Wells Fargo
Mallinckrodt shares are down sharply after news of a whistleblower lawsuit was made public, Wells Fargo analyst David Maris tells investors in an intraday research note. Mallinckrodt strongly disagrees with the allegations, believes the suit is baseless, and plans to defend itself vigorously, Maris writes after speaking to the company. The analyst believes whistleblower suits and court documents "often read poorly for a company as they are often one sided." However, the complaint alleges a number of bad actions by Mallinckrodt that could have larger implications if true, Maris adds. He recommends not jumping to conclusions and keeps a Market Perform rating on Mallinckrodt. The stock in morning trading is down 7% to $13.84.
04/12/18
STFL
04/12/18
DOWNGRADE
STFL
Hold
Mallinckrodt downgraded to Hold from Buy at Stifel
04/12/18
04/12/18
DOWNGRADE
Target $15

Hold
Stifel downgrades Mallinckrodt to Hold with sentiment seen staying low
As previously reported, Stifel analyst Annabel Samimy downgraded Mallinckrodt to Hold from Buy. Samimy said he cannot prove or disprove the alleged improper Acthar distribution and Medicare claims made against Mallinckrodt in a recently filed whistleblower lawsuit, but he believes that the "singularly persistent" overhang of Acthar will not lift in the near-term, regardless of the strength of the company's upcoming pipeline opportunities. The analyst thinks it is prudent to step to the side until the Acthar overhang, coupled with the overhang of opioid litigation, has more clarity toward resolution, he tells investors. Samimy lowered his price target on Mallinckrodt shares to $15 from $50.
VRX Ticker changed BHC
$16.59

0.355 (2.19%)

03/21/18
DBAB
03/21/18
NO CHANGE
Target $20
DBAB
Buy
Deutsche Bank continues to like risk/reward for Valeant shares
Valeant Pharmaceuticals could get more credit for its dermatology pipeline over time as it discloses more details on assets, secures approvals, and executes on launches, Deutsche Bank analyst Gregg Gilbert tells investors in a research note. He notes that one key difference between Valeant's longer-term outlook and his model is sales potential for the dermatology business. Management believes it can double sales from 2018-2022 to greater than $1B while Gilbert's estimates are much lower at $600M, likely due to lower pipeline contribution. He believes success in dermatology would represent "significant upside" to his current price target of $20. The analyst continues to like the risk/reward for the stock and maintains a Buy rating on Valeant.
04/06/18
MZHO
04/06/18
UPGRADE
Target $15
MZHO
Neutral
Valeant upgraded to Neutral from Underperform at Mizuho
Mizuho analyst Irina Koffler upgraded Valeant to Neutral and raised its price target to $15 from $10. Koffler sees a lack of near-term sell catalysts and views 2018 guidance as achievable.
04/06/18
MZHO
04/06/18
UPGRADE
Target $15
MZHO
Neutral
Mizuho upgrades Valeant to Neutral on lack of negative catalysts
Mizuho analyst Irina Koffler upgraded Valeant Pharmaceuticals to Neutral from Underperform and raised her price target for the shares to $15 from $10. The drugmaker closed yesterday at $15.79. The analyst, while remaining concerned about Valeant's return to revenue growth, sees no near-term "sell catalysts." Further, she views the company's 2018 guidance as achievable.
04/06/18
04/06/18
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. Valeant (VRX) upgraded to Neutral from Underperform at Mizuho with analyst Irina Koffler saying while she remains concerned about Valeant's return to revenue growth, sees no near-term "sell catalysts." 2. Patterson Companies (PDCO) upgraded to Buy from Hold at Craig-Hallum with analyst Kevin Ellich saying that his sum-of-parts analysis suggests the company could unlock value by splitting its dental and animal health businesses. 3. Prologis (PLD) and AvalonBay (AVB) were upgraded to Buy from Neutral at Citi. 4. Universal Display (OLED) upgraded to Outperform from Perform at Oppenheimer with analyst Andrew Uerkwitz saying with the shares down 41% year-to-date, the stock is oversold and the risks are fully priced in. 5. Halyard Health (HYH) upgraded to Overweight from Sector Weight at KeyBanc with analyst Matthew Mishan saying he sees the company's earnings growth accelerating and valuation re-rating following the sale of its Surgical & Infection Prevention unit. 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

CDTI

CDTi

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DUK

Duke Energy

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JNJ

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UAL

United Continental

$89.94

0.8 (0.90%)

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XLE

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$53.04

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General news
Week ending ETF Scorecard: Materials outperform, Utlilites slump »

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XLE

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SPDR Gold Trust

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iShares Silver Trust

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iShares 20+ Year Treasury Bond Fund

$117.12

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IEF

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$101.00

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SHY

iShares 1-3 Year Treasury Bond

$83.05

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iShares Russell 1000 Value

$129.51

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$155.30

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OHGI

One Horizon Group

$0.18

-0.0088 (-4.63%)

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CYTX

Cytori Therapeutics

$0.41

-0.033 (-7.38%)

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NEM

Newmont Mining

$31.56

0.05 (0.16%)

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CB

Chubb

$139.87

-0.05 (-0.04%)

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VTVT

vTv Therapeutics

$0.80

0.0096 (1.21%)

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vTv says FDA advised that azeliragon efficacy be shown in at least 2 trials »

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VYGR

Voyager Therapeutics

$18.21

-0.27 (-1.46%)

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GNRC

Generac

$57.99

-0.02 (-0.03%)

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Generac announces new $250M share repurchase program »

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GBNK

Guaranty Bancorp

$30.20

-0.5 (-1.63%)

, IBTX

Independent Bank

$67.60

-1.15 (-1.67%)

17:13
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Conference/Events
Independent Bank to host special shareholder meeting »

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GBNK

Guaranty Bancorp

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HRS

Harris

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PMBC

Pacific Mercantile Bancorp

$9.25

-0.5 (-5.13%)

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WSC

WillScot

$17.10

-0.05 (-0.29%)

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DTEA

DAVIDsTEA

$2.50

-0.9 (-26.47%)

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NYT

New York Times

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0.3 (1.30%)

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Expedia

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Expedia president Bhutani joins New York Times board »

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NYT

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EXPE

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IBTX

Independent Bank

$67.60

-1.15 (-1.67%)

, GBNK

Guaranty Bancorp

$30.20

-0.5 (-1.63%)

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Guaranty Bancorp

$30.20

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MPC

Marathon Petroleum

$83.37

1.44 (1.76%)

, ANDV

Andeavor

$154.80

2.19 (1.44%)

17:01
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17:01
Conference/Events
Andeavor to host special shareholder meeting »

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MPC

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ANDV

Andeavor

$154.80

2.19 (1.44%)

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ANDV

Andeavor

$154.80

2.19 (1.44%)

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Marathon Petroleum

$83.37

1.44 (1.76%)

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Conference/Events
Marathon Petroleum to host special shareholder meeting »

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ANDV

Andeavor

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2.19 (1.44%)

MPC

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1.44 (1.76%)

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  • 24

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EPRT

Essential Properties Realty Trust

$14.49

-0.015 (-0.10%)

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BBSI

Barrett Business

$63.67

0.04 (0.06%)

16:43
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SEC says Barrett Business to pay $1.5M penalty over improper accounting »

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SIGA

Siga Technologies

$7.25

0.5 (7.41%)

16:42
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Conference/Events
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  • 27

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SPY

SPDR S&P 500 ETF Trust

$292.03

-0.1774 (-0.06%)

, USO

United States Oil Fund

$14.95

0.145 (0.98%)

16:36
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General news
Weekly CFTC Commitment of Traders highlights »

S&P500 net long 0.1K…

SPY

SPDR S&P 500 ETF Trust

$292.03

-0.1774 (-0.06%)

USO

United States Oil Fund

$14.95

0.145 (0.98%)

GLD

SPDR Gold Trust

$113.48

-0.77 (-0.67%)

FXE

Euro Currency Trust

$112.55

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FXC

CurrencyShares Canadian Dollar Trust

$76.37

-0.09 (-0.12%)

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