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LLY

Eli Lilly

$83.08

0.64 (0.78%)

06:51
05/15/18
05/15
06:51
05/15/18
06:51

Eli Lilly chronic cluster headache Phase 3 study did not meet primary endpoint

Eli Lilly also conducted a separate Phase 3 study for patients with chronic cluster headache, which represents 10 to 15 percent of cluster headache cases.1 This study did not meet its primary endpoint. Based on results from the episodic cluster headache trial, Lilly is working with regulatory agencies around the world to determine the best path forward. Episodic cluster headache represents 85 to 90 percent of cluster headache cases. These studies, which evaluated a combined 343 patients, are the largest controlled preventive trials conducted in cluster headache to date. "It is hard to articulate the devastating impact that cluster headache can have on those of us living with the disease. Many people living with cluster headache spend years searching for effective treatment options to help ease an excruciating level of pain," said Bob Wold, a patient living with cluster headache and founder of Clusterbusters, Inc. "We are very excited by these results and galcanezumab's potential as a new treatment option for people living with cluster headache, many of whom have spent years feeling ignored and alone in their struggle." The episodic cluster headache study included a two-month treatment period comparing galcanezumab to placebo. Patients with episodic cluster headache treated with galcanezumab experienced statistically significant differences in the reduction of weekly cluster headache attacks compared to patients treated with placebo across weeks one to three of the two-month, double-blind treatment period, the primary endpoint of the study. In May 2017, Lilly announced positive data from three Phase 3 studies evaluating galcanezumab for the treatment of chronic and episodic migraine. In these studies, galcanezumab demonstrated statistically significant reductions in the number of monthly migraine headache days compared to placebo at both studied doses. The FDA is currently reviewing galcanezumab for the prevention of migraine in adults. A decision is expected in the third quarter of 2018.

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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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PSTG

Pure Storage

$22.00

0.2 (0.92%)

15:04
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Pure Storage options imply 10.8% move in share price post-earnings, above median historical move »

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CASY

Casey's General Stores

$116.05

1.33 (1.16%)

15:01
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Casey's General Stores management to meet with Jefferies »

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RIGL

Rigel Pharmaceuticals

$2.67

0.08 (3.09%)

15:00
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EA

Electronic Arts

$127.21

-0.47 (-0.37%)

15:00
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15:00
Options
Electronic Arts attracts a bullish option play »

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URBN

Urban Outfitters

$47.40

-0.12 (-0.25%)

14:49
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08/21
14:49
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14:49
Options
Urban Outfitters options imply 12.9% move in share price post-earnings, above median historical move »

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SFIX

Stitch Fix

$34.77

1.92 (5.84%)

14:45
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08/21
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Options
Stitch Fix call volume above normal and directionally bullish »

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ATVI

Activision Blizzard

$69.63

0.7 (1.02%)

14:40
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Periodicals
Breaking Periodicals news story on Activision Blizzard »

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NURO

NeuroMetrix

$1.26

0.04 (3.28%)

, GSK

GlaxoSmithKline

$41.57

0.25 (0.61%)

14:32
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Hot Stocks
NeuroMetrix receives $3.8M milestone payment under its pact with GSK »

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NURO

NeuroMetrix

$1.26

0.04 (3.28%)

GSK

GlaxoSmithKline

$41.57

0.25 (0.61%)

03/08/13
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14:30
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General news
Canada Retail Sales Preview »

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Treasury Option Action: more bond positioning »

Treasury Option Action:…

MDT

Medtronic

$95.02

4.96 (5.51%)

14:20
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08/21
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Recommendations
Medtronic analyst commentary  »

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MS

Morgan Stanley

$48.75

0.48 (0.99%)

14:20
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Mega option block in Morgan Stanley »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
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NASDAQ market internals summary »

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RIGL

Rigel Pharmaceuticals

$2.65

0.06 (2.32%)

14:16
08/21/18
08/21
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14:16
Hot Stocks
Rigel CEO says impact of any Trump policy still unclear »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
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Technical Analysis
NYSE market internals summary »

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NFLX

Netflix

$339.67

11.92 (3.64%)

, AAPL

Apple

$216.73

1.25 (0.58%)

14:07
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Netflix testing how to bypass iTunes billing in 33 countries, TechCrunch says »

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Netflix

$339.67

11.92 (3.64%)

AAPL

Apple

$216.73

1.25 (0.58%)

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  • 21

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UAL

United Continental

$86.00

0.765 (0.90%)

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United's Kirby sees average airfares improving, Bloomberg reports »

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APO

Apollo Global

$34.44

0.22 (0.64%)

, BX

Blackstone

$36.48

-0.32 (-0.87%)

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Periodicals
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APO

Apollo Global

$34.44

0.22 (0.64%)

BX

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$36.48

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NXST

Nexstar

$80.25

1.05 (1.33%)

TRCO

Tribune Media

$35.98

0.91 (2.59%)

SBGI

Sinclair Broadcast

$29.30

0.55 (1.91%)

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UAL

United Continental

$86.32

1.085 (1.27%)

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Options
Heavy call activity in UAL as shares take off »

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RIGL

Rigel Pharmaceuticals

$2.66

0.07 (2.70%)

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JCI

Johnson Controls

$39.84

1.11 (2.87%)

13:50
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SPY

SPDR S&P 500 ETF Trust

$287.20

1.52 (0.53%)

, SPX

S&P 500

$0.00

(0.00%)

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SPY

SPDR S&P 500 ETF Trust

$287.20

1.52 (0.53%)

SPX

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$0.00

(0.00%)

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GME

GameStop

$16.35

0.5 (3.15%)

13:45
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GameStop call volume above normal and directionally bullish »

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13:40
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FOMC minutes preview: »

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