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LLY

Eli Lilly

$83.08

0.64 (0.78%)

06:49
05/15/18
05/15
06:49
05/15/18
06:49

Eli Lilly Phase 3 study of galcanezumab met primary endpoint

Eli Lilly announced that galcanezumab met its primary endpoint in a Phase 3 study of patients with episodic cluster headache, demonstrating statistically significant differences in the reduction of weekly cluster headache attacks compared to placebo across weeks one to three of the two-month, double-blind treatment period. A statistically significantly greater percentage of patients treated with galcanezumab also achieved at least a 50 percent reduction in weekly cluster headache attacks compared to placebo at Week 3, the gated secondary endpoint. The observed safety and tolerability profile was consistent with previous studies that evaluated galcanezumab for the prevention of migraine. In this study, 8 percent of patients treated with galcanezumab discontinued treatment during the study compared to 21 percent of patients treated with placebo. Four percent of patients treated with galcanezumab discontinued treatment during the study due to adverse events compared to 2 percent of patients treated with placebo. Discontinuations due to lack of efficacy occurred in 2 percent of patients treated with galcanezumab, compared to 14 percent of patients treated with placebo.

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LLY Eli Lilly
$83.08

0.64 (0.78%)

04/13/18
BMOC
04/13/18
UPGRADE
Target $79
BMOC
Market Perform
Eli Lilly upgraded to Market Perform at BMO Capital on valuation
As reported earlier, BMO Capital analyst Alex Arfaei upgraded Eli Lilly to Market Perform from Underperform and raised his price target to $79 from $74. The analyst believes that his previously expressed concerns around the downside risks for Humalog, cautious outlook for Vernezio, and uncertainty around Bari are "mostly reflected" in the stock, with more balance in risk-reward going forward. While he anticipates 2018 to be volatile as maturing diabetes franchise constrains the company's growth plans, Arfaei also sees some tailwinds for Eli Lilly around continued strong growth of Trulicity, further growth of Taltz, Jardiance, and Basglar, as well as potential divestiture of Elanco.
04/13/18
04/13/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: Netflix (NFLX) upgraded to Buy from Hold at Deutsche Bank with analyst Bryan Kraft saying he underestimated the market's willingness to underwrite several years of negative free cash flow to drive growth. 2. Eli Lilly (LLY) upgraded to Market Perform from Underperform at BMO Capital with analyst Alex Arfaei saying he believes that his previously expressed concerns around the downside risks for Humalog, cautious outlook for Vernezio, and uncertainty around Bari are "mostly reflected" in the stock, with more balance in risk-reward going forward. 3. Willis Towers Watson (WLTW) upgraded to Buy from Hold at Sandler O'Neill with analyst Paul Newsome saying he is making a valuation call with the stock down to "both absolute and relative valuations that we have not seen since there were significant concerns about the Willis/Towers Watson merger and the company's ability to generate organic growth." 4. Shaw Communications (SJR) upgraded to Buy from Hold at Canaccord and to Outperform from Sector Perform at Scotiabank. 5. eBay (EBAY) upgraded to Buy from Neutral at Monness Crespi with analyst Jim Chartier saying eBay's structured data initiatives have meaningfully improved the eBay marketplace experience for buyers and sellers, resulting in gross merchandise value inflecting to up 7% in the fourth quarter of 2017 from up 1% in the third quarter of 2016. 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
RBCM
04/23/18
NO CHANGE
RBCM
Outperform
Incyte AdCom meeting going more favorably than docs suggested, says RBC Capital
RBC Capital analyst Brian Abrahams said the FDA advisory committee meeting for baricitinib, a rheumatoid arthritis treatment developed by Incyte (INCY) and submitted for review by Eli Lilly (LLY), seems "considerably less negative" than the briefing documents for the meeting had suggested. He sees the tone of the panel and the panelist Q&A suggesting a high likelihood that baricitinib will be approved, with the potential still existing that even a 4mg version could be approved in some form. Abrahams has an Outperform rating and $75 price target on Incyte shares.
04/25/18
DBAB
04/25/18
NO CHANGE
DBAB
Hold
Merck may need to reassess animal health unit, says Deutsche Bank
While Merck (MRK) describes its animal health unit as a key growth driver and an important part of the company, it remains to be seen whether investors will continue to accept this as a reason for the business to remain within the company, Deutsche Bank analyst Gregg Gilbert tells investors in a research note. He believes the unit is potentially undervalued. Given Zoetis' (ZTS) success as a company and a stock, and Eli Lilly's (LLY) ongoing review of strategic options for its Elanco Animal Health business, Gilbert conducted a preliminary separation analysis of Merck's animal health unit. The analysis suggests that a separation could be meaningfully accretive to earnings. The analyst keeps a Hold rating on Merck.

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KEG

Key Energy

$13.46

-0.18 (-1.32%)

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DAC

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Danaos reports Q2 EPS 27c, one estimate 23c »

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AWK

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COLD

Americold Realty Trust

$25.25

-0.09 (-0.36%)

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PRNB

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0.24 (0.89%)

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DCPH

Deciphera

$39.80

0.78 (2.00%)

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BJ

BJ's Wholesale

$28.47

-0.68 (-2.33%)

16:42
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Syndicate
BJ's Wholesale files to sell 28M shares of common stock for holders »

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BPMC

Blueprint Medicines

$71.56

1.8 (2.58%)

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SGEN

Seattle Genetics

$78.57

0.53 (0.68%)

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LOXO

Loxo Oncology

$163.07

3.91 (2.46%)

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INCY

Incyte

$66.48

-0.11 (-0.17%)

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Incyte initiated  »

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AGIO

Agios Pharmaceuticals

$75.39

1.84 (2.50%)

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SMLR

Semler Scientific

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Clovis

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$0.00

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TSRO

Tesaro

$36.41

-1.27 (-3.37%)

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BGNE

BeiGene

$166.12

2.15 (1.31%)

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BW

Babcock & Wilcox

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CWEN

Clearway Energy

$19.85

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KIRK

Kirkland's

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