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MYL

Mylan

$41.65

-0.2 (-0.48%)

08:44
06/14/18
06/14
08:44
06/14/18
08:44

Technical Take: Mylan falls after FDA says generic Advair has minor deficiencies

The stock was last down over 2.9% to $40.44 in pre-market trading. At that price next support is at $39.66. Resistance is at the $41 area.

  • 13

    Nov

MYL Mylan
$41.65

-0.2 (-0.48%)

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.
06/14/18
MSCO
06/14/18
NO CHANGE
MSCO
Underweight
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.

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New Gold

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LMT

Lockheed Martin

$339.26

-3.94 (-1.15%)

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RHT

Red Hat

$143.38

0.59 (0.41%)

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ELAN

Elanco

$0.00

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  • 20

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MAMS

MAM Software

$7.67

0.02 (0.26%)

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BTC

Bitcoin

$0.00

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Fannie Mae

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RHT

Red Hat

$143.38

0.59 (0.41%)

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  • 19

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  • 19

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RHT

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    Sep

RRTS

Roadrunner

$1.16

-0.065 (-5.33%)

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RYAM

Rayonier Advanced Materials

$21.39

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  • 27

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UNIT

Uniti Group

$20.82

-0.1 (-0.48%)

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LBTYA

Liberty Global

$28.59

0.32 (1.13%)

, LBTYK

Liberty Global

$27.62

0.35 (1.28%)

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LBTYA

Liberty Global

$28.59

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LBTYK

Liberty Global

$27.62

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HEAR

Turtle Beach

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NRC

Nac Re

$38.10

-1.25 (-3.18%)

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MGA

Magna

$54.44

0.805 (1.50%)

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  • 28

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NVCR

Novocure

$52.05

3.05 (6.22%)

16:51
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  • 26

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