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JAZZ

Jazz Pharmaceuticals

$175.14

-4.18 (-2.33%)

, AMRX

Amneal Pharmaceuticals

$18.63

0.29 (1.58%)

13:05
07/13/18
07/13
13:05
07/13/18
13:05

Jazz 'confident' in defending Xyrem in District Court, says Wells Fargo

Following news that the U.S. Court of Appeals for the Federal Circuit affirmed a series of rulings in favor of Amneal Pharmaceuticals (AMRX) that patents owned by Jazz Pharmaceuticals (JAZZ) related to its Xyrem drug are invalid, Wells Fargo analyst David Maris tells investors in a research note that he spoke with Jazz this morning and they said they "feel confident" in defending Xyrem in the District Court should the case go to trial. Additionally, Jazz, which said a trial date has not yet been set, said they have now settled with 8 out of 9 of the District Court challenges. Maris believes the reaction today is "overdone," as Jazz still has a strong portfolio to defend Xyrem and the company has shown a clear willingness to settle.

JAZZ

Jazz Pharmaceuticals

$175.14

-4.18 (-2.33%)

AMRX

Amneal Pharmaceuticals

$18.63

0.29 (1.58%)

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JAZZ Jazz Pharmaceuticals
$175.14

-4.18 (-2.33%)

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
07/13/18
07/13/18
NO CHANGE
Target $160

Outperform
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.
AMRX Amneal Pharmaceuticals
$18.63

0.29 (1.58%)

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.

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MSFT

Microsoft

$104.59

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ETP

Energy Transfer Partners

$20.14

0.74 (3.81%)

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COF

Capital One

$95.79

-1.3 (-1.34%)

, SYF

Synchrony

$33.47

0.06 (0.18%)

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COF

Capital One

$95.79

-1.3 (-1.34%)

SYF

Synchrony

$33.47

0.06 (0.18%)

WMT

Walmart

$88.10

0.01 (0.01%)

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General news
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HQY

HealthEquity

$81.82

0.31 (0.38%)

14:32
07/19/18
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Recommendations
HealthEquity analyst commentary  »

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GE

General Electric

$13.80

0.05 (0.36%)

, HON

Honeywell

$147.50

-1.65 (-1.11%)

14:32
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Earnings
Notable companies reporting before tomorrow's openGentex »

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GE

General Electric

$13.80

0.05 (0.36%)

HON

Honeywell

$147.50

-1.65 (-1.11%)

SLB

Schlumberger

$66.83

-0.24 (-0.36%)

BHGE

Baker Hughes

$32.10

-0.44 (-1.35%)

STT

State Street

$92.52

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VFC

VF Corp.

$89.22

1.01 (1.15%)

STI

SunTrust

$69.16

-0.69 (-0.99%)

SWK

Stanley Black & Decker

$139.18

0.91 (0.66%)

RF

Regions Financial

$17.75

-0.3 (-1.66%)

CFG

Citizens Financial

$40.62

-0.405 (-0.99%)

KSU

Kansas City Southern

$107.87

1.32 (1.24%)

GNTX

Gentex

$23.63

-0.195 (-0.82%)

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SKX

Skechers

$33.23

0.6 (1.84%)

14:30
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Notable spread in Skechers ahead of earnings »

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ISRG

Intuitive Surgical

$525.36

-2.31 (-0.44%)

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TSLA

Tesla

$321.44

-2.57 (-0.79%)

, PCRFY

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$0.00

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MSFT

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$104.45

-0.63 (-0.60%)

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$525.36

-2.31 (-0.44%)

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ISRG

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CTAS

Cintas

$193.16

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SWKS

Skyworks

$102.68

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ETFC

E-Trade

$61.35

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PBCT

People's United

$18.30

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SKX

Skechers

$33.25

0.62 (1.90%)

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ESV

Ensco

$7.02

-0.055 (-0.78%)

14:25
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Ensco call volume above normal and directionally bullish »

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$NSD

NASDAQ Market Internals

$0.00

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$NYE

NYSE Market Internals

$0.00

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14:16
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NYSE market internals summary »

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SPX

S&P 500

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$280.59

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MSFT

Microsoft

$104.73

-0.35 (-0.33%)

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GTLS

Chart Industries

$76.20

8.23 (12.11%)

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MSFT

Microsoft

$104.70

-0.38 (-0.36%)

, AMZN

Amazon.com

$1,828.13

-14.23 (-0.77%)

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MSFT

Microsoft

$104.70

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AMZN

Amazon.com

$1,828.13

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GOOGL

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$1,201.64

-11 (-0.91%)

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$1,188.06

-7.75 (-0.65%)

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HMNY

Helios and Matheson

$0.11

-0.0066 (-5.90%)

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