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CTLT

Catalent

$41.79

-0.12 (-0.29%)

, JNP

Juniper Pharmaceuticals

$8.70

(0.00%)

05:44
07/03/18
07/03
05:44
07/03/18
05:44

Catalent agrees to acquire Juniper Pharmaceuticals for $11.50 per share

Catalent (CTLT) announced that it has agreed to acquire Juniper Pharmaceuticals (JNP), including its Nottingham, U.K.-based Juniper Pharma Services division. When combined with Catalent's existing industry-leading drug development and manufacturing capabilities in the U.S. and Europe, the acquisition of Juniper will expand and strengthen Catalent's offerings in formulation development, bioavailability solutions and clinical-scale oral dose manufacturing, and will complement its integrated global clinical and commercial supply network. Juniper's nearly 150 employees have deep scientific expertise in formulation development, and supply, and will augment Catalent's current portfolio of solid-state screening, preformulation, formulation, analytical, and bioavailability enhancement solutions, including development of spray-dried dispersions, with integrated development, analytical, and clinical manufacturing co-located in its Nottingham facility. Catalent will continue to support Juniper's CRINONE franchise marketed by Merck KGaA outside of the U.S. Juniper's Intravaginal Ring development pipeline was previously licensed to Dare Bioscience, and Catalent will not be involved in the further development of this program. The acquisition of Juniper is subject to certain customary closing conditions, including that a majority of Juniper's shares are tendered into the offer, and is expected to close in the first quarter of Catalent's 2019 fiscal year, which began on July 1, 2018. Like Catalent, Juniper has expertise in solid-state and preclinical formulation screening for lead-candidate selection, phase-appropriate dose-form development, and superior technologies for challenging molecules, which will strengthen and expand on Catalent's OptiForm Solution Suite platform. Juniper provides bioavailability enhancement solutions for the development of poorly soluble compounds, including nano-milling, spray drying, hot-melt extrusion, lipid-based drug delivery, and cGMP clinical manufacturing, including specialized facilities and controls for potent and controlled substances. Under its acquisition agreement with Juniper, a subsidiary of Catalent will promptly commence a tender offer to purchase all of Juniper's shares for a price of $11.50, net to the seller in cash. Following the conclusion of the tender offer, Catalent intends to complete the transaction by acquiring the remainder of the Juniper shares at the same price through a merger with a newly formed wholly owned subsidiary of Catalent.

CTLT

Catalent

$41.79

-0.12 (-0.29%)

JNP

Juniper Pharmaceuticals

$8.70

(0.00%)

CTLT Catalent
$41.79

-0.12 (-0.29%)

03/21/18
03/21/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Myriad Genetics (MYGN) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Steve Beuchaw citing share price underperformance and improving cancer testing survey share trends. 2. FedEx (FDX) upgraded to Buy from Hold at Stifel with analyst David Ross saying he likes the company's "general earnings trajectory" following third quarter results. 3. Children's Place (PLCE) upgraded to Buy from Neutral at Citi with analyst Kate McShane saying the company reported another quarter of industry leading comps. 4. Catalent (CTLT) upgraded to Outperform from Market Perform at Raymond James with analyst Michael Baker saying shares are down 15% following the first quarter report on tough second half 2018 comps, and believes shares reflect this dynamic now. 5. WellCare (WCG) upgraded to Outperform from Market Perform at Wells Fargo with analyst Peter Costa saying he believes WellCare could benefit from significantly higher favorable prior period development in 2018. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/26/18
WBLR
03/26/18
NO CHANGE
WBLR
Outperform
William Blair sees Biohaven safety as 'strong differentiator' versus Allergan
William Blair analyst Tim Lugo believes Biohaven Pharmaceutical's (BHVN) Phase III data this morning confirmed rimegepant's efficacy and "clean" safety profile. The analyst keeps an Outperform rating on the shares, which are trading down 29%, or $7.12, to $17.64. Lugo understands the focus on comparing today's results with the recent ubrogepant Phase III data from Allergan (AGN), but he notes that comparisons are complicated as Biohaven did not allow rescue medications or re-dosing. While the efficacy in Study 302 looked in line with Allergan's ubrogepant Phase III study, Study 301 looked to be affected by a higher placebo rate of a few percentage points, which negatively affected the difference versus placebo, Lugo tells investors in a research note. He believes safety for rimegepant is "impressive" and likely a " William Blair sees Biohaven safety as 'strong differentiator' versus AllerganWhile a drop-off in efficacy between Phase II and Phase III results is common, it may have been exacerbated as management noted the rimegepant formulation in the Phase III took 30 minutes longer to reach serum maximal concentration than the formulation used in Phase II, Lugo points out. Further, he thinks the profile of rimegepant could be boosted by the company's Phase III trial of a rapidly dissolving sublingual rimegepant formulation using Catalent's (CTLT) Zydis technology, which the analyst says should lead to a faster bioavailability.
03/28/18
KEYB
03/28/18
UPGRADE
KEYB
Overweight
Catalent upgraded to Overweight from Sector Weight at KeyBanc
KeyBanc analyst Matthew Mishan upgraded Catalent to Overweight with a $48 price target.
03/28/18
03/28/18
UPGRADE
Target $48

Overweight
Catalent upgraded to Overweight at KeyBanc
As previously reported, KeyBanc analyst Donald Hooker upgraded Catalent to Overweight from Sector Weight, with a $48 price target, ahead of what he expects will be an increasing flow of new drug approvals in the coming years, as well as a rising prevalence of "value-based contracts" in which drug companies are held financially accountable for the real-world impact of their therapies.
JNP Juniper Pharmaceuticals
$8.70

(0.00%)

01/02/18
ROTH
01/02/18
INITIATION
Target $12
ROTH
Buy
Juniper Pharmaceuticals resumed with a Buy at Roth Capital
Roth Capital analyst Yasmeen Rahimi resumed coverage of Juniper Pharmaceuticals with a Buy rating and $12 price target as she believes CRINONE is a money maker, the company's Intravaginal Ring Technology is one-of-a-kind, and given "three shots on goal" with JNP-0101, JNP-0201, and JNP-0301.
01/02/18
01/02/18
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. Curo Group (CURO) was initiated with an Overweight at Stephens, an Outperform at Credit Suisse and William Blair, as well as a Buy at Jefferies. 2. Luther Burbank (LBC) was initiated with a Hold at Sandler O'Neill, a Neutral at DA Davidson and Piper Jaffray, as well as a Market Perform at Keefe Bruyette. 3. Denali Therapeutics (DNLI) was initiated with an Outperform at Evercore ISI, an Overweight at Morgan Stanley and JPMorgan, as well as a Neutral at Goldman Sachs. 4. Quanterix (QTRX) was initiated with an Outperform at Leerink and Cowen, an Overweight at JPMorgan, as well as a Buy at BTIG. 5. Juniper Pharmaceuticals (JNP) resumed with a Buy at Roth Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/09/18
ROTH
03/09/18
NO CHANGE
Target $24
ROTH
Buy
Juniper Pharmaceuticals price target doubled to $24 at Roth Capital
Roth Capital analyst Yasmeen Rahimi noted that Juniper Pharmaceuticals said it has engaged with strategic financial advisor Rothschild & Co., which has a successful track record in advisory services and could help yield significant upside. She also has continued confidence in growth for CRINONE , the company's largest revenue source, Rahimi tells investors. She doubled her price target for Juniper Pharmaceuticals to $24 from $12 and affirms a Buy rating on the stock.

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