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ABBV

AbbVie

$98.94

-0.84 (-0.84%)

18:40
06/12/18
06/12
18:40
06/12/18
18:40

AbbVie presents additional Upadacitinib Phase 3 data at EULAR 2018

AbbVie presented new patient-reported outcome data during the Annual European Congress of Rheumatology (EULAR 2018) in Amsterdam from three Phase 3 trials evaluating upadacitinib, an investigational, once-daily oral JAK1-selective inhibitor, in adult patients with moderate to severe rheumatoid arthritis.Improvements in pain, physical function and morning joint stiffness were reported after 12 weeks of treatment with upadacitinib in SELECT-NEXT and SELECT-BEYOND and after 14 weeks of treatment in SELECT-MONOTHERAPY. Additionally, improvements were reported in fatigue and work instability in SELECT-NEXT and patients' physical component of health-related quality of life in SELECT-NEXT and SELECT-BEYOND at 12 weeks. Upadacitinib is not approved by regulatory authorities and its safety and efficacy have not been established.

  • 12

    Jun

ABBV AbbVie
$98.94

-0.84 (-0.84%)

06/01/18
PIPR
06/01/18
DOWNGRADE
Target $105
PIPR
Neutral
AbbVie downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Christopher Raymond downgraded AbbVie to Neutral and cut his price target for the shares to $105 from $138. The stock closed yesterday down 4%, or $4.07, to $98.94. The stock's risk/reward, while once compelling on the reward side, may be skewing increasingly toward risk, Raymond tells investors in a research note. The analyst thinks investors are underestimating the downside potential from Humira's looming loss of exclusivity in Europe in Q4. And while the U.S. model is very different, another headwind, co-pay accumulators, does not seem to be subsiding, Raymond adds. He thinks it is prudent to step to the sidelines with respect to AbbVie shares.
06/01/18
06/01/18
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. Southwest (LUV) downgraded to In-Line from Outperform at Imperial Capital with analyst Michael Derchin saying he expects Southwest to face unit revenue pressures through fiscal 2019 from higher capacity growth in the "weaker" off-peak period as well as heightened competition in California and Denver. 2. AbbVie (ABBV) downgraded to Neutral from Overweight at Piper Jaffray with analyst Christopher Raymond saying the stock's risk/reward, while once compelling on the reward side, may be skewing increasingly toward risk. 3. Scotts Miracle-Gro (SMG) downgraded to Underweight from Neutral at JPMorgan with analyst Jeffrey Zekauskas saying the company faces challenges both in its core consumer business and in its hydroponics operation, which serves the cannabis market. 4. Owens Corning (OC) downgraded to Hold from Buy at Argus. 5. Perry Ellis (PERY) downgraded to Market Perform from Outperform at IFS Securities and to Neutral from Buy at Sidoti. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/01/18
PIPR
06/01/18
NO CHANGE
PIPR
Overweight
Piper says Lilly should get some share for Olumiant with aggressive pricing
Piper Jaffray analyst Tyler Van Buren noted that the TNF step-through for Incyte (INCY) and Eli Lilly's (LLY) Olumiant potentially decreases the overall market opportunity, but he believes Olumiant will get some share of TNF failure patients given that Lilly announced it is pricing the drug "aggressively" at a potential 60% price discount to AbbVie's (ABBV) Humira. Van Buren estimates this price to be a potential 50% price discount to the other oral JAK approved for RA, Pfizer's (PFE) Xeljanz. The analyst keeps an Overweight rating on Incyte, citing the durable revenue base through the late 2020s that should come from Olumiant along with the "significant potential" he sees in its pipeline opportunities.
06/11/18
ARGS
06/11/18
NO CHANGE
Target $130
ARGS
Buy
AbbVie price target lowered to $130 from $145 at Argus
Argus analyst David Toung lowered his price target on AbbVie to $130, citing the clinical setback for Rova-T as a treatment for relapsing small cell lung cancer, even though he continues to expect "solid growth" from Humira, Imbruvica, and hepatitis C drugs. Toung also keeps his Buy rating on Abbvie, pointing to the company's "strong product pipeline". The analyst further states that the valuation on AbbVie stock of 11.4-times his expected FY19 EPS is attractive at just below the average industry multiple of 11.9-times given the company's strong growth prospects.

TODAY'S FREE FLY STORIES

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CVNA

Carvana

$66.99

-0.175 (-0.26%)

21:14
05/21/19
05/21
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21:14
Syndicate
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INSM

Insmed

$26.37

-1.71 (-6.09%)

20:57
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05/21
20:57
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20:57
Syndicate
Insmed 9.62M share Secondary priced at $26.00 »

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LOW

Lowe's

$111.10

1.86 (1.70%)

, ADI

Analog Devices

$99.98

2.54 (2.61%)

20:25
05/21/19
05/21
20:25
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20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

LOW

Lowe's

$111.10

1.86 (1.70%)

ADI

Analog Devices

$99.98

2.54 (2.61%)

TGT

Target

$72.05

-0.05 (-0.07%)

VFC

VF Corp.

$92.13

1.43 (1.58%)

AAP

Advance Auto Parts

$161.08

2.42 (1.53%)

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20:25
05/21/19
05/21
20:25
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20:25
Conference/Events
CLSA Asian tech analysts to hold an analyst/industry conference call »

Asian Technology Analysts…

SPY

SPDR S&P 500 ETF Trust

$286.50

2.55 (0.90%)

, SPX

S&P 500

$0.00

(0.00%)

20:24
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20:24
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20:24
Periodicals
China ambassador to U.S. says Beijing ready to continue talks, Reuters reports »

China ambassador to the…

SPY

SPDR S&P 500 ETF Trust

$286.50

2.55 (0.90%)

SPX

S&P 500

$0.00

(0.00%)

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NEO

NeoGenomics

$21.81

-1.38 (-5.95%)

20:12
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Syndicate
NeoGenomics 7M share Secondary priced at $21.25 »

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BAM

Brookfield

$47.03

0.02 (0.04%)

, BX

Blackstone

$41.79

1.17 (2.88%)

19:29
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05/21
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19:29
Periodicals
Brookfield, Fortress among bidders for Anbang hotel portfolio, Bloomberg says »

Brookfield Asset…

BAM

Brookfield

$47.03

0.02 (0.04%)

BX

Blackstone

$41.79

1.17 (2.88%)

03/08/13
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  • 11

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GOLD

Barrick Gold

$12.12

-0.07 (-0.57%)

19:18
05/21/19
05/21
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19:18
Hot Stocks
Barrick says Acacia proposal reflects 'fair value' following Tanzania talks »

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SE

Sea Limited

$25.38

-0.42 (-1.63%)

19:04
05/21/19
05/21
19:04
05/21/19
19:04
Hot Stocks
Sea Limited reports Q1 QAUs up 114.4% from last year »

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  • 21

    May

SE

Sea Limited

$25.38

-0.42 (-1.63%)

19:02
05/21/19
05/21
19:02
05/21/19
19:02
Earnings
Sea Limited reports Q1 EPS (64c), consensus (68c) »

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  • 21

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SNE

Sony

$51.01

-1.195 (-2.29%)

18:48
05/21/19
05/21
18:48
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18:48
Periodicals
Sony aims to bolster cash flow to better compete in chips, games, NAR says »

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  • 10

    Jun

OOMA

Ooma

$14.49

-0.45 (-3.01%)

, CVI

CVR Energy

$47.29

0.9 (1.94%)

18:47
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Hot Stocks
Fly Intel: After Hours Movers »

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OOMA

Ooma

$14.49

-0.45 (-3.01%)

CVI

CVR Energy

$47.29

0.9 (1.94%)

PVH

PVH Corp.

$108.53

2.5075 (2.37%)

PSTG

Pure Storage

$20.60

0.6 (3.00%)

JWN

Nordstrom

$37.88

0.42 (1.12%)

URBN

Urban Outfitters

$27.01

0.05 (0.19%)

TOL

Toll Brothers

$38.34

0.82 (2.19%)

ONCS

OncoSec

$3.95

0.149 (3.92%)

EKSO

Ekso Bionics

$1.84

-0.06 (-3.16%)

TOCA

Tocagen

$8.81

-0.18 (-2.00%)

LIQT

LiqTech

$9.29

-0.21 (-2.21%)

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TREX

Trex Company

$61.44

2.38 (4.03%)

18:45
05/21/19
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Hot Stocks
Trex Company CEO: There is no demand issue »

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  • 13

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CRMT

America's Car-Mart

$101.76

1.74 (1.74%)

18:34
05/21/19
05/21
18:34
05/21/19
18:34
Earnings
America's Car-Mart reports Q4 EPS $2.07, consensus $1.82 »

Reports Q4 revenue $177M,…

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  • 22

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JCOM

j2 Global

$87.23

0.75 (0.87%)

18:25
05/21/19
05/21
18:25
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18:25
Hot Stocks
j2 Global CFO sells 5.6K shares of common stock »

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  • 21

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NVS

Novartis

$82.38

0.36 (0.44%)

18:24
05/21/19
05/21
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18:24
Hot Stocks
Novartis CEO: We are entering an exciting growth phase for the company »

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  • 23

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EADSY

Airbus

$0.00

(0.00%)

18:20
05/21/19
05/21
18:20
05/21/19
18:20
Periodicals
Airbus in talks to find resolution to German arms export row, Reuters says »

Airbus CEO Guillaume…

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AGRO

Adecogro

$6.50

0.07 (1.09%)

18:19
05/21/19
05/21
18:19
05/21/19
18:19
Earnings
Adecogro reports Q1 adjusted EBITDA $58.3M, down 5.9% from last year »

Reports Q1 revenue…

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GOOG

Alphabet

$1,149.14

10.81 (0.95%)

, GOOGL

Alphabet Class A

$1,154.26

8.98 (0.78%)

18:01
05/21/19
05/21
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18:01
Hot Stocks
Google updates policy on abortion-related ads »

Google said in a post…

GOOG

Alphabet

$1,149.14

10.81 (0.95%)

GOOGL

Alphabet Class A

$1,154.26

8.98 (0.78%)

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  • 19

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HAIN

Hain Celestial

$23.90

0.45 (1.92%)

17:50
05/21/19
05/21
17:50
05/21/19
17:50
Hot Stocks
Engaged Capital raises stake in Hain Celestial to 20.2% from 18.3% »

Engaged Capital raised…

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NTDOY

Nintendo

$0.00

(0.00%)

17:48
05/21/19
05/21
17:48
05/21/19
17:48
Hot Stocks
Nintendo to end 'Animal Crossing,' 'Fire Emblem' mobile game service in Belgium »

Nintendo announced that,…

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