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NLNK

NewLink Genetics

$5.20

-0.185 (-3.44%)

, RHHBY

Roche

$0.00

(0.00%)

09:51
05/15/18
05/15
09:51
05/15/18
09:51

Roche terminates Genentech collaboration agreement with NewLink Genetics

NewLink Genetics (NLNK) disclosed this morning that on May 10, it received notice from Genentech, a member of the Roche Group (RHHBY), that it is terminating the license and collaboration agreement between the parties dated October 14, 2014, in its entirety. Such termination will become effective 180 days after receipt of the notice. Genentech had previously terminated the Genentech agreement in part with respect to NLG919, but the agreement remained in force with respect to next generation IDO/TDO inhibitors identified through the research program conducted under the agreement. Upon termination of the agreement in its entirety, NewLink's rights in the compounds will revert to the company, and Genentech will grant to the company an exclusive, worldwide, royalty-bearing, sublicensable license, under certain Genentech intellectual property, to research, develop, manufacture and commercialize such compounds, and the company will be required to pay a low single-digit royalty to Genentech on any sales of next generation compounds, should the company proceed to develop and commercialize them. Genentech is also obligated to assign to NewLink, upon termination, certain data arising from research that Genentech conducted on the next generation compounds. These licenses, royalty obligations and assignments for next generation compounds are in addition to the licenses, royalty obligations and assignments for NLG919 that went into effect in December 2017 when the Genentech agreement terminated with respect to NLG919.

NLNK

NewLink Genetics

$5.20

-0.185 (-3.44%)

RHHBY

Roche

$0.00

(0.00%)

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NLNK NewLink Genetics
$5.20

-0.185 (-3.44%)

04/09/18
RHCO
04/09/18
DOWNGRADE
Target $5
RHCO
Hold
NewLink Genetics downgraded to Hold at SunTrust on Incyte trial failure
As reported late last week, SunTrust analyst Peter Lawson downgraded NewLink Genetics (NLNK) to Hold from Buy and lowered his price target to $5 from $19. Lawson cites the announcement of negative results from the Phase 3 ECHO-301 of epacadostat + Keytruda in melanoma by Incyte (INCY), saying the data also implies a "significant negative read through for NewLink's IDO agent, indoximod". Lawson adds that the results have led him to remove melanoma from his NewLink model and also reduce the probability of success in pancreatic cancer, lowering the probability of adjusted peak sales from $415M to just $11M.
04/09/18
BARD
04/09/18
DOWNGRADE
Target $5
BARD
Neutral
NewLink Genetics downgraded to Neutral at Baird
As reported previously, Baird analyst Michael Ulz downgraded NewLink Genetics (NLNK) to Neutral from Outperform. The analyst cited the disappointing results from Incyte's (INCY) Phase-3 ECHO-301 study in melanoma. Given the uncertainty surrounding the opportunity after NewLink said it will revisit the indoximod clinical program following Incyte's news, Ulz lowered his price target to $5 from $22 on NewLink Genetics shares.
04/09/18
04/09/18
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. Westlake Chemical (WLK) downgraded to Neutral from Overweight at JPMorgan with analyst Jeffrey Zekauskas citing valuation. 2. Mettler-Toledo (MTD) downgraded to Neutral from Buy at Goldman Sachs with analyst Patrick Donnelly saying he sees an attractive fundamental backdrop across Tools but is more cautious on the outlook for sales upside at Mettler given his view of a likely moderation of growth in China after a year of catch-up investment in the region. Donnelly also highlights "tough comps" in Labs and Product inspection. 3. Franklin Resources (BEN) downgraded to Neutral from Buy at BofA/Merrill with analyst Michael Carrier saying Franklin's bottom half performance and continued outflows limits organic growth and multiple expansion. 4. NewLink Genetics (NLNK) downgraded to Neutral from Overweight at Cantor Fitzgerald and Baird as well as to Hold from Buy at Jefferies. 5. Incyte (INCY) downgraded to Hold from Buy at Gabelli with analyst Jing He citing the "surprising" failure of the Phase 3 ECHO-301 study in melanoma. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/16/18
CANT
04/16/18
NO CHANGE
Target $7
CANT
Neutral
NewLink positive data unlikely to sway investors, says Cantor Fitzgerald
Cantor Fitzgerald analyst Mara Goldstein reiterates a Neutral rating on NewLink Genetics (NLNK) with a $7 price target after the company over the weekend presented data from a Phase I study of indoximod in diffuse intrinsic pontine glioma. While positive, the data are unlikely to "sway investors at this point" given the recent failure of Incyte's (INCY) epacadostat, Goldstein tells investors in a research note.
RHHBY Roche
$0.00

(0.00%)

05/10/18
BERN
05/10/18
DOWNGRADE
BERN
Market Perform
Roche downgraded to Market Perform from Outperform at Bernstein
Bernstein analyst Tim Anderson downgraded Roche to Market Perform from Outperform saying its model shows the slowest 5Y EPS growth among his 10 covered names. Additionally, the analyst thinks consensus estimates are too high over this period and biosimilar headwinds are likely to strengthen.
05/10/18
STFL
05/10/18
NO CHANGE
STFL
Hold
Exelixis pullback may create interesting entry point, says Stifel
After Exelixis (EXEL) and partner Roche (RHHBY) announced the Phase 3 IMblaze370 trial did not achieve statistical-significance on the primary efficacy endpoint evaluating the ability of a combination of a MEK inhibitor and anti-PD-L1 to improve overall survival in patients with microsatellite stable metastatic colorectal cancer, Stifel analyst Stephen Willey said he believes attrition in Exelixis shares might create an interesting entry point. The failure of IMblaze370 removes some of Exelixis' longer-term optionality and he expects topics of RCC growth/competition, label expansion, and longer-term cabozantinib exclusivity to remain core to the story going forward, said Willey who has a Hold rating on the stock. Array BioPharma (ARRY) also has Phase 1/2 development collaborations in place with both Bristol-Myers (BMY) and Merck (MRK) evaluating the MEK/PD-1 hypothesis in earlier-lines of MSS mCRC, noted Willey, who said he would "be opportunistic" on any weakness in its shares. He maintains a Buy rating on Array, which is down 5% in pre-market trading.
05/10/18
05/10/18
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. Macy's (M) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Kimberly Greenberger citing its ongoing negative store-only comparable sales and continued decline in return on invested capital, or ROIC. 2. L Brands (LB) downgraded to Sell from Hold at Loop Capital with analyst Laura Champine saying the April same-store-sales result of 0% was driven by promotions, and merchandise margin was once again "down significantly." The analyst also cut her price target for the shares to $28 from $40. 3. Tableau (DATA) downgraded to Sell from Neutral at MoffettNathanson. 4. Roche (RHHBY) downgraded to Market Perform from Outperform at Bernstein with analyst Tim Anderson saying its model shows the slowest 5Y EPS growth among his 10 covered names. 5. Baker Hughes (BHGE) downgraded to Neutral from Buy at BofA/Merrill with analyst Timna Tanners citing the strong run in Baker Hughes shares. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/10/18
JPMS
05/10/18
NO CHANGE
Target $185
JPMS
Overweight
Array BioPharma added to Analyst Focus List at JPMorgan
JPMorgan analyst Anupam Rama added Array BioPharma (ARRY) to his firm's Analyst Focus List as a growth strategy and reiterates an Overweight rating on the shares. The analyst lowered his price target for the stock to $18 from $19 after taking out MEK + I/O from his model. He believes, however, that Roche's (RHHBY) Phase 3 IMblaze370 trial failure was largely priced in. Rama recommends buying Array at current levels ahead of the "multiple" mid-year pipeline catalysts.

TODAY'S FREE FLY STORIES

KORS

Michael Kors

$68.63

0.25 (0.37%)

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$106.18

-0.19 (-0.18%)

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KHC

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$57.78

0.72 (1.26%)

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KHC

Kraft Heinz

$57.78

0.72 (1.26%)

QCOM

Qualcomm

$59.95

0.85 (1.44%)

MRK

Merck

$59.08

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TGT

Target

$71.22

0.28 (0.39%)

OMC

Omnicom

$71.98

-0.1 (-0.14%)

CCL

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$64.27

0.12 (0.19%)

JNJ

Johnson & Johnson

$121.40

0.06 (0.05%)

MMM

3M

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LLY

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VLO

Valero

$118.81

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EMR

Emerson

$72.50

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WBA

Walgreens Boots Alliance

$63.52

0.09 (0.14%)

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MU

Micron

$61.33

-0.15 (-0.24%)

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ATUS

Altice USA

$18.50

-0.05 (-0.27%)

10:40
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MU

Micron

$61.33

-0.15 (-0.24%)

, XLNX

Xilinx

$69.63

0.88 (1.28%)

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MU

Micron

$61.33

-0.15 (-0.24%)

XLNX

Xilinx

$69.63

0.88 (1.28%)

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ZTCOY

ZTE Corp.

$0.00

(0.00%)

, DDAIF

Daimler AG

$0.00

(0.00%)

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ZTCOY

ZTE Corp.

$0.00

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DDAIF

Daimler AG

$0.00

(0.00%)

FCAU

Fiat Chrysler

$21.82

-0.445 (-2.00%)

HMC

Honda

$32.04

-0.34 (-1.05%)

NSANY

Nissan

$0.00

(0.00%)

F

Ford

$11.51

-0.11 (-0.95%)

GM

General Motors

$38.30

-0.09 (-0.23%)

TM

Toyota

$129.97

-2.47 (-1.87%)

VLKAY

Volkswagen

$0.00

(0.00%)

BAC

Bank of America

$30.16

-0.03 (-0.10%)

C

Citi

$68.42

-0.86 (-1.24%)

GS

Goldman Sachs

$235.05

-1.1 (-0.47%)

JPM

JPMorgan

$110.62

-0.64 (-0.58%)

MS

Morgan Stanley

$53.02

-0.96 (-1.78%)

USB

U.S. Bancorp

$50.54

-0.14 (-0.28%)

WFC

Wells Fargo

$54.91

0.25 (0.46%)

TWTR

Twitter

$33.64

0.11 (0.33%)

AA

Alcoa

$47.92

-1.26 (-2.56%)

CENX

Century Aluminum

$16.27

-0.07 (-0.43%)

AOBC

American Outdoor Brands

$12.53

0.05 (0.40%)

RGR

Sturm, Ruger

$63.10

0.5 (0.80%)

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HCLP

Hi-Crush Partners

$13.20

-0.825 (-5.88%)

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POST

Post Holdings

$77.98

1.49 (1.95%)

17:37
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ABMD

Abiomed

$394.49

0.04 (0.01%)

, WYN

Wyndham

$107.98

-0.58 (-0.53%)

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Abiomed to enter S&P 500 index on May 31 »

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ABMD

Abiomed

$394.49

0.04 (0.01%)

WYN

Wyndham

$107.98

-0.58 (-0.53%)

MSCC

Microsemi

$68.74

0.005 (0.01%)

PRAH

PRA Health

$81.19

0.33 (0.41%)

GME

GameStop

$12.64

-0.1 (-0.78%)

FRED

Fred's

$1.69

0.05 (3.05%)

PRSP

Symbol now PB

$0.00

(0.00%)

RRTS

Roadrunner

$2.19

0.04 (1.86%)

DXC

DXC Technology

$94.20

-5.42 (-5.44%)

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PRAH

PRA Health

$81.19

0.33 (0.41%)

, ABMD

Abiomed

$394.49

0.04 (0.01%)

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Breaking Hot Stocks news story on PRA Health, Abiomed »

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PRAH

PRA Health

$81.19

0.33 (0.41%)

ABMD

Abiomed

$394.49

0.04 (0.01%)

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WYN

Wyndham

$107.98

-0.58 (-0.53%)

, MSCC

Microsemi

$68.74

0.005 (0.01%)

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WYN

Wyndham

$107.98

-0.58 (-0.53%)

MSCC

Microsemi

$68.74

0.005 (0.01%)

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ABMD

Abiomed

$394.49

0.04 (0.01%)

, WYN

Wyndham

$107.98

-0.58 (-0.53%)

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ABMD

Abiomed

$394.49

0.04 (0.01%)

WYN

Wyndham

$107.98

-0.58 (-0.53%)

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PCG

PG&E

$44.67

0.84 (1.92%)

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FARM

Farmer Bros.

$28.50

0.15 (0.53%)

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NDLS

Noodles & Company

$8.90

-0.35 (-3.78%)

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Breaking Syndicate news story on Noodles & Company »

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WIN

Windstream

$1.22

-0.125 (-9.29%)

17:06
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NDLS

Noodles & Company

$8.90

-0.35 (-3.78%)

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Breaking Syndicate news story on Noodles & Company »

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EPD

Enterprise Products

$27.87

-0.12 (-0.43%)

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INO

Inovio

$4.89

0.06 (1.24%)

16:37
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RCII

Rent-A-Center

$10.14

0.13 (1.30%)

16:36
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AKER

Akers Biosciences

$0.59

0.0086 (1.48%)

16:34
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05/25
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DHCP

Ditech

$6.60

0.37 (5.94%)

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GPS

Gap

$28.15

-4.82 (-14.62%)

, FL

Foot Locker

$55.97

9.585 (20.67%)

16:30
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General news
On The Fly: Top stock stories for Friday »

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GPS

Gap

$28.15

-4.82 (-14.62%)

FL

Foot Locker

$55.97

9.585 (20.67%)

HLF

Herbalife Nutrition

$48.76

-5.09 (-9.45%)

IEP

Icahn Enterprises

$69.41

0.22 (0.32%)

FCAU

Fiat Chrysler

$21.82

-0.445 (-2.00%)

DGX

Quest Diagnostics

$105.89

5 (4.96%)

UNH

UnitedHealth

$244.96

2.23 (0.92%)

ROST

Ross Stores

$77.35

-5.6 (-6.75%)

ADSK

Autodesk

$132.80

-5.96 (-4.30%)

AAL

American Airlines

$44.89

1.34 (3.08%)

LUV

Southwest

$52.86

1.65 (3.22%)

DAL

Delta Air Lines

$55.89

1.48 (2.72%)

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16:30
05/25/18
05/25
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16:30
Options
Preliminary option volume of 16.4M today »

Preliminary option volume…

VTL

Vital Therapies

$5.65

-0.475 (-7.76%)

16:26
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05/25
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16:26
Syndicate
Breaking Syndicate news story on Vital Therapies »

Vital Therapies files to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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