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JAZZ

Jazz Pharmaceuticals

$175.15

-4.17 (-2.33%)

, AMRX

Amneal Pharmaceuticals

$18.51

0.17 (0.93%)

10:32
07/13/18
07/13
10:32
07/13/18
10:32

Evercore ISI says appeals court decision on Xyrem patents a 'non-issue' for Jazz

As previously reported, Evercore ISI analyst Umer Raffat called news that an appeals court found that seven Jazz Pharmaceuticals (JAZZ) patents being challenged by Amneal Pharmaceuticals (AMRX) are invalid a "non-issue," stating that his quick read of today's decision shows it all relates to the REMS patents and the core basis for patent life is the valproate patents. He said the patents that were ruled invalid "are not particularly relevant for Xyrem's patent estate" and he does not find today's ruling "of much significance." Raffat keeps an Outperform rating on Jazz shares, which are down 2% to $175.48 in morning trading.

JAZZ

Jazz Pharmaceuticals

$175.15

-4.17 (-2.33%)

AMRX

Amneal Pharmaceuticals

$18.51

0.17 (0.93%)

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JAZZ Jazz Pharmaceuticals
$175.15

-4.17 (-2.33%)

07/11/18
MSCO
07/11/18
DOWNGRADE
MSCO
Equal Weight
Jazz Pharmaceuticals downgraded to Equal Weight at Morgan Stanley
07/11/18
07/11/18
DOWNGRADE
Target $183

Equal Weight
Jazz Pharmaceuticals downgraded to Equal Weight after rally at Morgan Stanley
As previously reported, Morgan Stanley analyst David Risinger downgraded Jazz Pharmaceuticals to Equal Weight from Overweight as a rally in the stock has brought it to a closing price on Tuesday of $180.57, which is approaching his unchanged price target of $183. He believes potential M&A could add new growth drivers and diversify Jazz from Xyrem, which is expected to represent about 70% of its FY18 revenue, but Risinger also thinks investors already anticipate action on that front.
07/11/18
07/11/18
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. Steven Madden (SHOO) downgraded to Neutral from Outperform at Wedbush with analyst Christopher Svezia citing valuation. 2. Jazz Pharmaceuticals (JAZZ) downgraded to Equal Weight at Morgan Stanley with analyst David Risinger saying he believes potential M&A could add new growth drivers and diversify Jazz from Xyrem, which is expected to represent about 70% of its FY18 revenue, but Risinger also thinks investors already anticipate action on that front. 3. U.S. Cellular (USM) and Telephone and Data (TDS) were downgraded to Underweight from Neutral at JPMorgan. 4. Hess Corp. (HES) downgraded to Underweight from Equal Weight at Barclays with analyst Paul Cheng saying his analysis indicates Hess trades at the "steepest premium" in the group. 5. Westlake Chemical (WLK) downgraded to Neutral from Buy at Nomura Instinet with analyst Aleksey Yefremov saying he expects softer demand to weigh on cyclical stocks and reduced his estimates for seven names in the Americas Chemicals space. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/13/18
EVER
07/13/18
NO CHANGE
EVER
Outperform
Jazz Pharmaceuticals patent ruling a 'non-issue, says Evercore ISI
AMRX Amneal Pharmaceuticals
$18.51

0.17 (0.93%)

05/09/18
05/09/18
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. Cleveland-Cliffs (CLF) initiated with a Buy at Seaport Global. 2. Amneal Pharmaceuticals (AMRX) initiated with a Buy at Deutsche Bank. 3. Iridium (IRDM) initiated with a Buy at BWS Financial. 4. ServiceMaster (SERV) initiated with a Buy at Buckingham while Rollins (ROL) was initiated with a Neutral at Buckingham. 5. Eiger BioPharmaceuticals (EIGR) initiated with a Buy at B. Riley FBR. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/18/18
JPMS
05/18/18
INITIATION
Target $18
JPMS
Neutral
Amneal Pharmaceuticals initiated with a Neutral at JPMorgan
JPMorgan analyst Chris Schott started Amneal Pharmaceuticals with a Neutral rating and $18 price target. The company is well positioned within the generics space, but its valuation trades at a premium to peers, Schott tells investors in a research note. He also notes the company's 2018 guidance requires a "significant step up" in EBITDA from Q1 levels based on a heavy cycle of upcoming pipeline launches.
05/18/18
05/18/18
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. MasterCard (MA) initiated with a Neutral at UBS. 2. AMD (AMD) initiated with an Outperform at Cowen while Intel (INTC) was initiated with a Market Perform. 3. Synthetic Biologics (SYN) initiated with a Buy at H.C. Wainwright. 4. Amneal Pharmaceuticals (AMRX) initiated with a Neutral at JPMorgan. 5. Apollo Commercial (ARI) initiated with a Buy at Deutsche Bank. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/22/18
RILY
06/22/18
INITIATION
Target $26
RILY
Buy
Amneal Pharmaceuticals initiated with a Buy at B. Riley FBR
B. Riley FBR analyst David Buck started Amneal Pharmaceuticals with a Buy rating and $26 price target. The merger of two niche generic companies created a new generic leader, Buck tells investors in a research note.

TODAY'S FREE FLY STORIES

03:05
07/23/18
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03:05
General news
FX Update: The dollar remained on a softening track »

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AGIO

Agios Pharmaceuticals

$91.06

-0.23 (-0.25%)

, CELG

Celgene

$85.09

-0.26 (-0.30%)

20:07
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20:07
Recommendations
Agios Pharmaceuticals, Celgene analyst commentary at Piper Jaffray »

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Agios Pharmaceuticals

$91.06

-0.23 (-0.25%)

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Celgene

$85.09

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SYNT

Syntel

$39.15

0.14 (0.36%)

, FCAU

Fiat Chrysler

$19.33

-0.195 (-1.00%)

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SYNT

Syntel

$39.15

0.14 (0.36%)

FCAU

Fiat Chrysler

$19.33

-0.195 (-1.00%)

PM

Philip Morris

$84.31

3.41 (4.22%)

RACE

Ferrari

$139.98

-2.65 (-1.86%)

AMZN

Amazon.com

$1,813.84

0.99 (0.05%)

NFLX

Netflix

$361.33

-2.81 (-0.77%)

TSLA

Tesla

$313.49

-6.85 (-2.14%)

SNE

Sony

$52.97

0.355 (0.67%)

AB

AllianceBernstein

$29.90

-0.05 (-0.17%)

BLK

BlackRock

$503.01

-1.42 (-0.28%)

BEN

Franklin Resources

$31.99

-0.28 (-0.87%)

IVZ

Invesco

$25.46

-0.245 (-0.95%)

LM

Legg Mason

$33.37

-0.13 (-0.39%)

TROW

T. Rowe Price

$119.87

-0.85 (-0.70%)

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INDB

Independent Bank

$88.10

6.45 (7.90%)

17:48
07/22/18
07/22
17:48
07/22/18
17:48
Upgrade
Independent Bank rating change at Keefe Bruyette »

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BHLB

Berkshire Hills Bancorp

$41.40

0.45 (1.10%)

17:47
07/22/18
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17:47
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17:47
Downgrade
Berkshire Hills Bancorp rating change at Keefe Bruyette »

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TWX

Acquired by T

$0.00

(0.00%)

, CMCSA

Comcast

$34.30

-0.61 (-1.75%)

17:14
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07/22
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17:14
Hot Stocks
Box Office Battle: 'Equalizer 2' beats 'Mamma Mia: Here We Go Again!' »

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TWX

Acquired by T

$0.00

(0.00%)

CMCSA

Comcast

$34.30

-0.61 (-1.75%)

CMCSK

Comcast

$0.00

(0.00%)

SNE

Sony

$52.97

0.355 (0.67%)

FOX

21st Century Fox

$45.69

-0.5 (-1.08%)

FOXA

21st Century Fox

$46.01

-0.54 (-1.16%)

LGF.A

Lionsgate

$24.88

-0.08 (-0.32%)

DIS

Disney

$111.48

-0.66 (-0.59%)

VIAB

Viacom

$27.49

-0.51 (-1.82%)

VIA

Viacom

$32.10

-0.3 (-0.93%)

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BGNE

BeiGene

$169.98

5.95 (3.63%)

16:43
07/22/18
07/22
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16:43
Hot Stocks
BeiGene planning to pursue accelerated approval in U.S. of Zanubrutinib in WM »

BeiGene announced that…

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BGNE

BeiGene

$169.98

5.95 (3.63%)

16:40
07/22/18
07/22
16:40
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16:40
Hot Stocks
BeiGene announces preliminary topline results of Hodgkin's Lymphoma trial »

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SYNT

Syntel

$39.15

0.14 (0.36%)

16:17
07/22/18
07/22
16:17
07/22/18
16:17
Earnings
Syntel reports preliminary Q2 EPS 49c, consensus 44c »

Reports preliminary Q2…

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SYNT

Syntel

$39.15

0.14 (0.36%)

16:13
07/22/18
07/22
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16:13
Hot Stocks
Syntel enters definitive agreement to be acquired by Atos S.E. »

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DDE

Dover Downs

$2.04

0.01 (0.49%)

16:11
07/22/18
07/22
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16:11
Hot Stocks
Dover Downs to combine with Twin River Worldwide »

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TWO

Two Harbors

$15.92

-0.05 (-0.31%)

, CYS

CYS Investments

$7.57

-0.025 (-0.33%)

13:36
07/22/18
07/22
13:36
07/22/18
13:36
Conference/Events
CYS Investments to host special shareholder meeting »

Special Shareholder…

TWO

Two Harbors

$15.92

-0.05 (-0.31%)

CYS

CYS Investments

$7.57

-0.025 (-0.33%)

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CYS

CYS Investments

$7.57

-0.025 (-0.33%)

, TWO

Two Harbors

$15.92

-0.05 (-0.31%)

13:34
07/22/18
07/22
13:34
07/22/18
13:34
Conference/Events
Two Harbors to host special shareholder meeting »

Special Shareholder…

CYS

CYS Investments

$7.57

-0.025 (-0.33%)

TWO

Two Harbors

$15.92

-0.05 (-0.31%)

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JD

JD.com

$35.50

-1.37 (-3.72%)

13:28
07/22/18
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13:28
Periodicals
JD.com plans move into Europe, Reuters reports »

JD.com's chief…

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AAPL

Apple

$191.29

-0.66 (-0.34%)

12:37
07/22/18
07/22
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12:37
Periodicals
China aiming to supply Apple with OLED smartphone screens, WSJ says »

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PZZA

Papa John's

$51.61

0.62 (1.22%)

12:30
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12:30
Periodicals
Papa John's board to discuss 'poison pill,' WSJ reports »

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EADSY

Airbus

$0.00

(0.00%)

, BAESY

BAE Systems

$0.00

(0.00%)

12:22
07/22/18
07/22
12:22
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12:22
Periodicals
Airbus CEO says open to jet fighter merger with BAE Systems, Reuters reports »

The chief executive of…

EADSY

Airbus

$0.00

(0.00%)

BAESY

BAE Systems

$0.00

(0.00%)

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VLKAY

Volkswagen

$0.00

(0.00%)

12:17
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12:17
Periodicals
Volkswagen parking cars due to new emissions testing bottlenecks, Reuters says »

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KKR

KKR

$27.26

0.21 (0.78%)

12:11
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KKR consortium proposes acquisition of LCY Chemical »

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PM

Philip Morris

$84.31

3.41 (4.22%)

, RACE

Ferrari

$139.98

-2.65 (-1.86%)

11:58
07/22/18
07/22
11:58
07/22/18
11:58
Hot Stocks
Philip Morris' non-executive board chairman to assume CEO role at Ferrari »

Philip Morris (PM) said…

PM

Philip Morris

$84.31

3.41 (4.22%)

RACE

Ferrari

$139.98

-2.65 (-1.86%)

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MDLZ

Mondelez

$42.46

0.21 (0.50%)

11:55
07/22/18
07/22
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11:55
Hot Stocks
Mondelez conducts voluntary recall of certain Ritz Cracker sandwiches »

Mondelez Global announced…

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ACN

Accenture

$166.47

-0.47 (-0.28%)

, EADSY

Airbus

$0.00

(0.00%)

04:55
07/22/18
07/22
04:55
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04:55
Conference/Events
Farnborough International to hold an airshow »

Farnborough International…

ACN

Accenture

$166.47

-0.47 (-0.28%)

EADSY

Airbus

$0.00

(0.00%)

ATI

Allegheny Technologies

$26.65

0.08 (0.30%)

BAESY

BAE Systems

$0.00

(0.00%)

BDRBF

Bombardier

$0.00

(0.00%)

CAE

CAE

$20.96

0.17 (0.82%)

CW

Curtiss-Wright

$125.79

-0.12 (-0.10%)

DASTY

Dassault Systemes

$0.00

(0.00%)

ESLT

Elbit Systems

$118.98

0.64 (0.54%)

LMT

Lockheed Martin

$322.76

3.09 (0.97%)

BA

Boeing

$354.92

-0.57 (-0.16%)

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FCAU

Fiat Chrysler

$19.33

-0.195 (-1.00%)

13:14
07/21/18
07/21
13:14
07/21/18
13:14
Hot Stocks
Fiat names Jeep head as CEO as Marchionne's health worsens »

In a statement, Fiat…

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RACE

Ferrari

$139.98

-2.65 (-1.86%)

, PM

Philip Morris

$84.31

3.41 (4.22%)

13:10
07/21/18
07/21
13:10
07/21/18
13:10
Hot Stocks
Ferrari to name former Philip Morris chairman as CEO »

The Board of Directors of…

RACE

Ferrari

$139.98

-2.65 (-1.86%)

PM

Philip Morris

$84.31

3.41 (4.22%)

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AMZN

Amazon.com

$1,813.84

0.99 (0.05%)

, TM

Toyota

$131.87

0.11 (0.08%)

12:51
07/21/18
07/21
12:51
07/21/18
12:51
Periodicals
Amazon, others working to counter Trump's tariff plans, Reuters says »

Big companies in the…

AMZN

Amazon.com

$1,813.84

0.99 (0.05%)

TM

Toyota

$131.87

0.11 (0.08%)

AA

Alcoa

$40.32

-1.36 (-3.26%)

03/08/13
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