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AMGN

Amgen

$171.91

-2.75 (-1.57%)

18:05
04/24/18
04/24
18:05
04/24/18
18:05

Amgen reports Q1 Repatha sales up 151% driven primarily by higher unit demand

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AMGN Amgen
$171.91

-2.75 (-1.57%)

03/12/18
MSCO
03/12/18
NO CHANGE
Target $196
MSCO
Overweight
Enbrel IPR denials lift an overhang on Amgen, says Morgan Stanley
Morgan Stanley analyst Matthew Harrison noted that on Friday the USPTO's Patent Trial and Appeal Board denied the institution of two IPRs filed by Coherus Biosciences (CHRS) against Enbrel patients 8,063,182 and 8,163,522, which he said removes one near-term overhang on Amgen (AMGN) shares. Harrison noted that he has always viewed the IPRs as a greater risk to Enbrel than a District Court case being brought by Novartis' (NVS) Sandoz division, which is set to begin its trial on April 17, as he has always seen a potential settlement with Sandoz as a reasonable possibility. The analyst keeps his Overweight rating and $196 price target on Amgen shares.
02/20/18
JEFF
02/20/18
NO CHANGE
Target $200
JEFF
Buy
Amgen shares 'very attractive' despite some headline risk, says Jefferies
Jefferies analyst Michael Yee says three upcoming legal and regulatory decisions around Enbrel, Neulasta, and Sensipar could cause potential "headline downside risk" for Amgen shares. However, these are "manageable or somewhat expected," Yee tells investors in a research note. He points out that Amgen has a $10B Dutch Tender underway and an additional $4B buyback authorization. The stock looks "very attractive" at current levels, and Amgen has "significant capital deployment and M&A capabilities," Yee contends. He keeps a Buy rating on the stock with a $200 price target.
02/14/18
PIPR
02/14/18
NO CHANGE
PIPR
Overweight
Amgen added co-pay accumulator risk in annual filing, says Piper Jaffray
Piper Jaffray analyst Christopher Raymond points out that Amgen in its annual filing specifically called out co-pay accumulators as part of its reimbursement risk language, which was not included in previous filings. These relatively recent programs are designed to accelerate shifting of drug cost burdens to patients and manufacturers and appear to have caught both patients and manufacturers by surprise, Raymond tells investors in a research note. While Amgen indicated the near-term impact to Enbrel will be minimal, the issue warrants further monitoring throughout 2018, the analyst contends. He keeps an Overweight rating on Amgen shares.
02/05/18
02/05/18
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. Wells Fargo (WFC) downgraded to Market Perform from Outperform at Keefe Bruyette, to Neutral from Buy at Citi, to Underperform from Outperform at RBC Capital, to Underweight from Neutral at JPMorgan, and two notches to Underweight from Overweight at Morgan Stanley. 2. Dick's Sporting (DKS) downgraded to Underweight from Equal Weight at Barclays with analyst Matthew McClintock saying sentiment on the shares have improved over the past month under the narrative that Dick's could become the next Best Buy (BBY). 3. Amgen (AMGN) downgraded to Neutral from Overweight at Atlantic Equities with analyst Steve Chesney citing relative valuation and more balanced risk/reward on Repatha's commercial trajectory and the of legacy biologics given biosimilar, branded and IP risks. 4. Marathon Petroleum (MPC) and MPLX (MPLX) were downgraded to Hold from Buy at Jefferies. 5. VMware (VMW) downgraded to Neutral from Buy at Citi with analyst Walter Pritchard saying he sees "no easy deal" for Dell and expects the overhang to cap VMware shares around the $138 level. 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

JEC

Jacobs Engineering

$76.82

0.65 (0.85%)

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BAC

Bank of America

$31.01

0.79 (2.61%)

06:17
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Bank of America's investment banking head to depart, FT reports »

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RHT

Red Hat

$143.38

0.59 (0.41%)

06:15
09/20/18
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06:15
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Red Hat analyst commentary  »

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LB

L Brands

$29.68

0.09 (0.30%)

06:11
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L Brands analyst commentary  »

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AMZN

Amazon.com

$1,926.27

-14.93 (-0.77%)

, GOOG

Alphabet

$1,170.97

9.3 (0.80%)

06:10
09/20/18
09/20
06:10
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06:10
Periodicals
EU opens preliminary probe into Amazon's use of third-party data, BI reports »

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AMZN

Amazon.com

$1,926.27

-14.93 (-0.77%)

GOOG

Alphabet

$1,170.97

9.3 (0.80%)

GOOGL

Alphabet Class A

$1,174.66

7.49 (0.64%)

AAPL

Apple

$218.35

0.105 (0.05%)

03/08/13
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RRC

Range Resources

$17.19

0.83 (5.07%)

06:07
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09/20
06:07
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06:07
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Range Resources rating change  »

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RL

Ralph Lauren

$134.12

1.93 (1.46%)

06:07
09/20/18
09/20
06:07
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06:07
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Ralph Lauren rating change  »

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FTNT

Fortinet

$85.82

-2.59 (-2.93%)

06:06
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06:06
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06:06
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Fortinet rating change  »

Fortinet downgraded to…

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FOLD

Amicus

$11.80

0.02 (0.17%)

06:05
09/20/18
09/20
06:05
09/20/18
06:05
Hot Stocks
Amicus acquires gene therapy portfolio of ten AAV programs for $100M »

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FBP

First BanCorp

$8.61

0.12 (1.41%)

06:05
09/20/18
09/20
06:05
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06:05
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First BanCorp rating change  »

First BanCorp upgraded to…

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SKX

Skechers

$27.84

-0.135 (-0.48%)

06:05
09/20/18
09/20
06:05
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06:05
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Skechers rating change  »

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CNI

Canadian National

$86.13

-1.335 (-1.53%)

06:05
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06:05
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Canadian National rating change  »

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NOA

North American Energy

$8.65

-0.175 (-1.98%)

06:04
09/20/18
09/20
06:04
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06:04
Hot Stocks
North American Construction Group acquires 49% stake in Nuna Logistics »

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SFIX

Stitch Fix

$47.21

-3.275 (-6.49%)

, AMZN

Amazon.com

$1,926.27

-14.93 (-0.77%)

06:04
09/20/18
09/20
06:04
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06:04
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Stitch Fix, Amazon.com rating change  »

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SFIX

Stitch Fix

$47.21

-3.275 (-6.49%)

AMZN

Amazon.com

$1,926.27

-14.93 (-0.77%)

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IPG

Interpublic Group

06:03
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06:03
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06:03
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SNHY

Helios Technologies

$55.00

0.49 (0.90%)

06:03
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MTW

Manitowoc

$24.50

0.8 (3.38%)

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CAT

Caterpillar

$152.78

3.63 (2.43%)

06:03
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CNQ

Canadian Natural

$32.86

0.145 (0.44%)

06:03
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Canadian Natural rating change  »

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SCS

Steelcase

$15.30

0.05 (0.33%)

06:02
09/20/18
09/20
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06:02
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Steelcase acquires Orangebox Group for $79M »

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COP

ConocoPhillips

$75.53

0.48 (0.64%)

06:02
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06:02
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ConocoPhillips rating change  »

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SLCA

U.S. Silica

$20.50

-0.185 (-0.89%)

06:02
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06:02
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U.S. Silica rating change  »

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CVIA

Covia

$9.79

0.3 (3.16%)

06:02
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Covia rating change  »

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NE

Noble Corp.

$6.30

0.15 (2.44%)

06:02
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  • 24

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RIG

Transocean

$12.37

0.44 (3.69%)

06:01
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