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PRGO

Perrigo

$74.96

-2.55 (-3.29%)

07:21
05/15/18
05/15
07:21
05/15/18
07:21

Perrigo ProAir setback disappointing but thesis intact, says Canaccord

Canaccord analyst Dewey Steadman said the delay of Perrigo's generic ProAir is disappointing, but the company's diversification keeps the thesis intact. The analyst said he was impressed with the speed of disclosure of the expected CRL, but he believes the drug will not be coming in Q4 as expected. He has adjusted his model for a 2020 launch and has faith in the company's ability to deliver and grow revenues. Steadman reiterated his Buy rating and $105 price target on Perrigo shares.

  • 21

    May

PRGO Perrigo
$74.96

-2.55 (-3.29%)

02/27/18
WELS
02/27/18
NO CHANGE
WELS
Market Perform
Perrigo delay of report 'unexpected' and 'unfortunate,' says Wells Fargo
Wells Fargo analyst David Maris called Perrigo's "unexpected" delay in its Q4 earnings call that was previously scheduled for today "an unfortunate development," stating that he had been anticipating the company was making progress. Maris added that he has no reason to think this delay is a sign of broader issues, but it does create greater uncertainty, which is something the company "does not need" given it had previously disclosed material weaknesses in its internal control over financial reporting related to income taxes. Maris keeps a Market Perform rating on Perrigo.
03/05/18
OPCO
03/05/18
NO CHANGE
Target $98
OPCO
Outperform
Perrigo guidance achievable as new CEO takes the helm, says Oppenheimer
Oppenheimer analyst Derek Archila notes Perrigo issued 2018 EPS guidance bracketing consensus estimates, which he thinks should sit well with investors and could lead to a modest beat/raise story throughout 2018. The analyst thinks the recent 10% selloff on the delayed EPS report was unwarranted and believes the company's guidance under the CEO may prove to be conservative as Perrigo has several levers to generate value in the next 12-18 months. Archila would be a buyer of the stock at these levels, and reiterates an Outperform rating and $98 price target on the shares.
05/14/18
CANT
05/14/18
NO CHANGE
Target $107
CANT
Overweight
'Holding our breath' on ProAir until Perrigo gives more details, says Cantor
Cantor Fitzgerald analyst Louise Chen reiterated an Overweight rating and $107 price target on Perrigo after the company's announcement on Friday that it expects to receive a CRL from the FDA regarding its ProAir generic ANDA, which will likely disappoint the Street as the company had previously guided to approval and a launch by the fourth quarter. As a result, Chen told investors in a research note that Perrigo no longer expects to achieve the ~9c per share benefit that was included in its 2018 adjusted EPS forecast, and the company has not commented on if it can make this benefit up through sales of other products or cost costs. Chen also said it is "not clear" why Perrigo took ProAir out of its guidance now, but thinks the Street can finally refocus on fundamentals, driving greater appreciation for the company's growth prospects and earnings potential.
05/14/18
WELS
05/14/18
NO CHANGE
Target $84
WELS
Market Perform
Perrigo price target lowered to $84 from $90 at Wells Fargo
Wells Fargo analyst David Maris lowered his price target for Perrigo to $84 from $90 following the news that the company now expects to receive a complete response letter from the FDA on its generic ProAir filing and that Perrigo no longer expects an approval of its ProAir generic to be a 2018 event. The analyst reiterates Market Perform rating on the shares.

TODAY'S FREE FLY STORIES

MLHR

Herman Miller

$37.30

0.2 (0.54%)

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  • 20

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TLRY

Tilray

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FXI

iShares China Large-Cap ETF

$42.67

0.885 (2.12%)

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CNI

Canadian National

$85.79

-1.675 (-1.92%)

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Canadian Pacific

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TLRY

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RHT

Red Hat

$141.62

-1.17 (-0.82%)

14:49
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Options
Red Hat options imply 12.8% move in share price post-earnings, above median historical move »

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  • 19

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HKMPY

Hikma

$0.00

(0.00%)

14:47
09/19/18
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  • 24

    Sep

MS

Morgan Stanley

$49.09

1.22 (2.55%)

14:45
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Morgan Stanley call volume above normal and directionally bullish »

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  • 20

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FB

Facebook

$162.94

2.63 (1.64%)

14:42
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Periodicals
Facebook user terms not yet in line with EU consumer laws, Reuters says »

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  • 28

    Oct

IPSEY

Ipsen

$0.00

(0.00%)

14:40
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14:40
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Conference/Events
Ipsen has a conference call hosted by JPMorgan »

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  • 21

    Sep

SIEN

Sientra

$23.85

-0.3 (-1.24%)

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SEC charges Sientra, former CEO with misleading investors »

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  • 06

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Fed Policy Outlook: by this time next week »

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DRE

Duke Realty

$28.36

-0.35 (-1.22%)

14:29
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HXGBY

Hexagon AB

$0.00

(0.00%)

14:25
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Conference/Events
Hexagon AB management to meet with RBC Capital »

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  • 28

    Sep

WMB

Williams

$28.14

0.05 (0.18%)

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NEPT

Neptune Technologies

$4.93

0.675 (15.86%)

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BABA

Alibaba

$162.44

5.8 (3.70%)

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  • 28

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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$NYE

NYSE Market Internals

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SPOT

Spotify

$169.33

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BABA

Alibaba

$162.49

5.85 (3.73%)

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Periodicals
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  • 28

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SAFM

Sanderson Farms

$100.90

-2.04 (-1.98%)

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  • 11

    Oct

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