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MRK

Merck

$60.24

1.42 (2.41%)

16:34
04/23/18
04/23
16:34
04/23/18
16:34

Merck: Centralized review process has started for Type II Variation for Keytruda

Merck announced that following validation by the European Medicines Agency, the centralized review process has begun for the company's Type II Variation, which seeks approval for KEYTRUDA, Merck's anti-PD-1 therapy, in combination with pemetrexed and platinum chemotherapy for the first-line treatment of patients with metastatic nonsquamous non-small cell lung cancer. The application was accepted for review based on overall survival and progression-free survival data from the Phase 3 KEYNOTE-189 trial, which were recently presented at the American Association of Cancer Research 2018 Annual Meeting and published simultaneously in The New England Journal of Medicine. If approved by the EMA, this would mark the third indication for KEYTRUDA in metastatic NSCLC to be approved in Europe based on overall survival data.

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MRK Merck
$60.24

1.42 (2.41%)

04/17/18
04/17/18
UPGRADE
Target $68

Overweight
Merck upgraded to Overweight on immuno-oncology leadership at Morgan Stanley
As previously reported, Morgan Stanley analyst David Risinger upgraded Merck (MRK) to Overweight from Equal Weight after the Keytruda+chemo combination showed better than expected results in lung cancer, boosting the company's immuno-oncology lead against Bristol-Myers (BMY). Driven by higher Keytruda estimates, Risinger increased his 2018-23 EPS CAGR estimate to 8% from 6% and raised his out-year EPS forecasts by 5-8%. The analyst, who also downgraded Bristol-Myers to Equal Weight from Overweight this morning, raised his price target on Merck shares to $68 from $63.
04/17/18
04/17/18
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. Disney (DIS) upgraded to Hold from Sell at Pivotal Research with analyst Brian Wieser saying the company "has a lot of positive elements" heading into the back half of the year, including a strong film slate, the launch of new direct to consumer over-the-top services, and efforts in support of the close of the Fox (FOXA) transaction. 2. Coca-Cola (KO) upgraded to Neutral from Sell at Goldman Sachs with analyst Judy Hong saying she sees an improving organic sales growth outlook, "cleaner base" post-refranchising, and better visibility on its margin and earnings targets. 3. Merck (MRK) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst David Risinger saying the Keytruda+chemo combination showed better than expected results in lung cancer, boosting the company's immuno-oncology lead against Bristol-Myers (BMY). 4. Newell Brands (NWL) upgraded to Outperform from Market Perform at Wells Fargo with analyst Bonnie Herzog saying the stock's setup is good looking forward, with greater potential upside than downside risk over the next 12 months. 5. Twitter (TWTR) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Brian Nowak citing recent advertiser conversations that have continued to be incrementally positive about Twitter's ad business. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/23/18
GSCO
04/23/18
UPGRADE
GSCO
Conviction Buy
Merck upgraded to Conviction Buy from Neutral at Goldman Sachs
04/23/18
GSCO
04/23/18
UPGRADE
Target $73
GSCO
Conviction Buy
Goldman upgrades Merck to Buy, puts on Conviction List with $73 target
Goldman Sachs analyst Jami Rubin upgraded Merck to Buy from Neutral and added the shares to her firm's Conviction List. Rubin also upped her price target for the shares to $73 from $63. Merck closed Friday up 20c to $58.83. The analyst increased her estimates for Keytruda sales by $2B in 2021 and $4B in 2025. The narrative for Merck is "quickly changing with the success of Keytruda, driving a significant shift in product mix from a large primary care evolving into a specialty biopharma," Rubin tells investors in a research note. The analyst now sees "significant" margin upside from product mix shift with higher Keytruda sales than previously modeled. She believes Merck's operating margins could go from 32.5% in 2017 to 40% by 2025, with an inflection point beginning in the second half of 2018.

TODAY'S FREE FLY STORIES

TEN

Tenneco

$44.55

-0.94 (-2.07%)

10:05
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Conference/Events
Tenneco management to meet with JPMorgan »

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APPS

Digital Turbine

$1.24

-0.02 (-1.59%)

10:04
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Digital Turbine management to meet with Roth Capital »

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CHH

Choice Hotels

$82.50

-0.6 (-0.72%)

, OZM

Och-Ziff Capital

$1.67

0.02 (1.21%)

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Choice Hotels, Oz Management agree to co-investment framework for Cambria brand »

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CHH

Choice Hotels

$82.50

-0.6 (-0.72%)

OZM

Och-Ziff Capital

$1.67

0.02 (1.21%)

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AMRN

Amarin

$10.00

7 (233.33%)

10:00
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09/24
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Options
Active trading in Amarin as shares surge »

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KORS

Michael Kors

$68.56

-4.11 (-5.66%)

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Michael Kors falls -5.7% »

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DWT

Britannia Bulk

$5.55

-0.32 (-5.45%)

10:00
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PPDF

PPDAI Group

$6.07

-0.53 (-8.03%)

10:00
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Hot Stocks
PPDAI Group falls -8.0% »

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SA

Seabridge Gold

$12.80

1.55 (13.78%)

10:00
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09/24
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Seabridge Gold rises 12.9% »

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    Sep

CRC

California Resources

$44.89

5.36 (13.56%)

10:00
09/24/18
09/24
10:00
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10:00
Hot Stocks
California Resources rises 13.5% »

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  • 03

    Oct

XON

Intrexon

$17.02

2.525 (17.42%)

10:00
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09/24
10:00
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10:00
Hot Stocks
Intrexon rises 17.5% »

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09:57
09/24/18
09/24
09:57
09/24/18
09:57
General news
Market starts lower as new tariffs ratchet up China tensions »

Stock futures were weak…

C

Citi

$74.33

0.2 (0.27%)

09:55
09/24/18
09/24
09:55
09/24/18
09:55
Options
Citi put volume heavy and directionally bearish »

Bearish flow noted in…

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EW

Edwards Lifesciences

$161.52

7.81 (5.08%)

, ALXN

Alexion

$128.15

6.18 (5.07%)

09:55
09/24/18
09/24
09:55
09/24/18
09:55
Options
Early notable gainers among liquid option names on September 24th »

Notable gainers among…

EW

Edwards Lifesciences

$161.52

7.81 (5.08%)

ALXN

Alexion

$128.15

6.18 (5.07%)

APA

Apache

$47.61

1.665 (3.62%)

ABT

Abbott

$71.27

2.22 (3.22%)

NFX

Newfield Exploration

$29.85

0.81 (2.79%)

03/08/13
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09:55
09/24/18
09/24
09:55
09/24/18
09:55
Conference/Events
UBS consumer goods analyst to hold an analyst/industry conference call »

Consumer Goods Analyst…

SBAC

SBA Communications

$159.90

-0.62 (-0.39%)

09:54
09/24/18
09/24
09:54
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09:54
Conference/Events
SBA Communications management to meet with JPMorgan »

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  • 25

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09:50
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General news
Florence Fallout: »

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Conference/Events
RBC Capital equity strategy analyst to hold an analyst/industry conference call »

U.S. Equity Strategy…

RHHBY

Roche

$0.00

(0.00%)

09:49
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Genentech: Tecentriq + chemotherapy reduced risk of disease worsening in trial »

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UNFI

United Natural Foods

$30.73

-0.29 (-0.93%)

09:47
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09:47
Recommendations
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YEXT

Yext

$23.24

-1.53 (-6.18%)

09:47
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RHHBY

Roche

$0.00

(0.00%)

09:47
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DWT

Britannia Bulk

$5.57

-0.3 (-5.11%)

09:47
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Britannia Bulk falls -5.3% »

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PPDF

PPDAI Group

$6.01

-0.59 (-8.94%)

09:47
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P

Pandora

$9.65

0.57 (6.28%)

09:47
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XON

Intrexon

$16.14

1.645 (11.35%)

09:47
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