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INVA

Innoviva

$14.43

-0.16 (-1.10%)

, MYL

Mylan

$41.65

-0.2 (-0.48%)

08:28
06/14/18
06/14
08:28
06/14/18
08:28

Morgan Stanley says Mylan Advair news likely seen as positive for Innoviva

After Mylan (MYL) announced the FDA has identified minor deficiencies that will delay the launch of its generic Advair product, Morgan Stanley analyst Matthew Harrison said he expects the market to view this as a positive for Innoviva (INVA), which he predicts will be up 5% or more on the news. Harrison, who continues to anticipate a generic Advair entry in 2018, keeps an Underweight rating on Innoviva shares.

INVA

Innoviva

$14.43

-0.16 (-1.10%)

MYL

Mylan

$41.65

-0.2 (-0.48%)

  • 13

    Nov

INVA Innoviva
$14.43

-0.16 (-1.10%)

11/20/17
DBAB
11/20/17
INITIATION
Target $13
DBAB
Hold
Innoviva initiated with a Hold at Deutsche Bank
Deutsche Bank analyst Esther Rajavelu started Innoviva (INVA) with a Hold rating and $13 price target. The analyst is concerned about revenue concentration and sees no near-term growth opportunities outside of the GlaxoSmithKline (GSK) partnership.
11/20/17
11/20/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Innoviva (INVA) initiated with a Hold at Deutsche Bank. 2. National Vision (EYE) was initiated with an Overweight at Morgan Stanley, an Outperform at Wells Fargo, a Buy at Jefferies and Citi, as well as a Neutral at Goldman Sachs, UBS, and BofA/Merrill. 3. Ablynx (ABLX) was initiated with an Overweight at JPMorgan, an Outperform at Baird, and a Buy at Ladenburg. 4. Blue Apron (APRN) initiated with a Sector Weight at KeyBanc. 5. BP Midstream (BPMP) was initiated with an Overweight at JPMorgan, a Buy at UBS and Citi, an Equal Weight at Morgan Stanley and Barclays, as well as a Neutral at Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/18/17
MSCO
12/18/17
NO CHANGE
MSCO
Morgan Stanley sees opportunities in biotech amid 'limited' investor conviction
With clinical catalysts in large-cap Biotechnology limited to only five key Phase III readouts - three of which are from Alexion (ALXN) - investors are describing their 2018 picks in the space as the "least worst" of the group, according to Morgan Stanley analyst Matthew Harrison. However, he believes this lack of conviction creates real opportunity for outsized moves in 2018, with Amgen (AMGN) identified by Harrison as the biggest potential beneficiary of M&A given "its likely newfound access" to about $39B in offshore cash. Other biotech names the analyst highlights on the up side include Biogen (BIIB), BioMarin (BMRN), Biohaven (BHVN) and Sarepta (SRPT). Meanwhile, Harrison highlights his concerns about potential downside for BioVerativ (BIVV) and Innoviva (INVA), on both of which he keeps Underweight ratings.
04/19/18
BREN
04/19/18
INITIATION
Target $22
BREN
Buy
Innoviva initiated with a Buy at Berenberg
Berenberg analyst Patrick Trucchio initiated Innoviva with a Buy and $22 price target.
MYL Mylan
$41.65

-0.2 (-0.48%)

06/14/18
MZHO
06/14/18
NO CHANGE
Target $51
MZHO
Buy
Mylan to recover from 'modest' generic Advair delay, says Mizuho
Mizuho analyst Irina Koffler says Mylan's "modest" delay for generic Advair approval is unsurprising and unlikely to impact the company's 2018 guidance. She expects the stock to recover and reiterates a Buy rating on the name with a $51 price target.
06/14/18
RBCM
06/14/18
NO CHANGE
Target $42
RBCM
Sector Perform
Mylan's stock may pull back through Q2, says RBC Capital
RBC Capital analyst Randall Stanicky kept his $42 price target and Sector Perform rating on Mylan following yesterday's FDA delay of generic Advair due to "minor deficiencies". The analyst notes that the company may be faced with worse than expressed business pressure and is also concerned that the Street may have over-modeled the Advair contribution, warning that the stock price may pull back through Q2. Stanicky says investors should await a better entry point opportunity on Mylan.
06/14/18
MSCO
06/14/18
NO CHANGE
Target $50
MSCO
Overweight
Morgan Stanley says generic Advair delay a small negative for Mylan
Morgan Stanley analyst David Risinger called Mylan's announcement that generic Advair will not be approved by its June 27 action date a "small negative, but not a major surprise." He sees potential for approval this fall, while noting that the company previously warned with its Q1 earnings release that there was risk that it could need to lower its 2018 guidance range. He keeps an Overweight rating on Mylan shares, citing the stock's low valuation and the company's pipeline opportunities.
06/14/18
WELS
06/14/18
NO CHANGE
WELS
Market Perform
Advair generic delay negative news for Mylan, says Wells Fargo
Wells Fargo analyst David Maris notes that Mylan announced that it received an update from the FDA concerning its generic Advair application and the FDA has identified minor deficiencies that will be relayed in a Complete Response Letter on June 27. While noting that he does not know how long it will take Mylan to respond to the CRL, the analyst says the delay is negative news for the company, but less so from a financial basis than a sentiment basis. Further, Maris believes this delay is important as this is a high-profile product that may already be in market expectations, and the delay may take away some excitement about a near-term catalyst. The fact Mylan said it will determine after getting the CRL whether this has any impact to its 2018 outlook, also creates some uncertainty, he contends. Maris reiterates a Market Perform rating on the shares.

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CDTI

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$23.30

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CC

Chemours

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ACAD

Acadia

$15.82

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TAX

Liberty Tax

$8.40

-0.4 (-4.55%)

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CNK

Cinemark

$36.17

0.37 (1.03%)

, AMC

AMC Entertainment

$16.00

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DLX

Deluxe

$68.36

0.59 (0.87%)

16:38
06/18/18
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Earnings
Deluxe backs FY18 adjusted EPS view $5.60-$5.80, consensus $5.71 »

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DLX

Deluxe

$68.36

0.59 (0.87%)

16:37
06/18/18
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Earnings
Deluxe backs Q2 adjusted EPS view $1.29-$1.35, consensus $1.31 »

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DLX

Deluxe

$68.36

0.59 (0.87%)

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OBSV

ObsEva

$17.21

2.68 (18.44%)

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  • 18

    Jun

TAX

Liberty Tax

$8.40

-0.4 (-4.55%)

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SLGL

Sol-Gel Technologies

$8.50

(0.00%)

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OMP

Oasis Midstream Partners

$17.59

0.3 (1.74%)

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  • 18

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CL

Colgate-Palmolive

$63.30

-1.43 (-2.21%)

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R

Ryder

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CL

Colgate-Palmolive

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KKR

KKR

$24.00

0.085 (0.36%)

, ATCEY

Altice

$0.00

(0.00%)

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Periodicals
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$24.00

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ATCEY

Altice

$0.00

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BX

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AXAHY

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OLLI

Ollie's Bargain Outlet

$75.85

0.75 (1.00%)

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Initiation
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PAGS

PagSeguro Digital

$32.16

-1.24 (-3.71%)

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GRBK

Green Brick

$12.15

-0.15 (-1.22%)

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CHCI

Comstock Holding

$3.38

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