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NVS

Novartis

$80.89

2.17 (2.76%)

, GLPG

Galapagos NV

$102.08

-0.76 (-0.74%)

05:47
07/19/18
07/19
05:47
07/19/18
05:47

Novartis announces exclusive license agreement with Galapagos, MorphoSys

Novartis (NVS) announced that it has entered into an exclusive license agreement with biotech companies Galapagos NV (GLPG) and MorphoSys AG (MOR) regarding their compound MOR106. Under the agreement, Novartis acquires the exclusive global development and marketing rights to MOR106 for atopic dermatitis and all other potential indications. Novartis will make an upfront payment of EUR 95 million to Galapagos and MorphoSys, and additional payments, royalties and fees pending achievement of agreed milestones. The closing of the license agreement is subject to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

NVS

Novartis

$80.89

2.17 (2.76%)

GLPG

Galapagos NV

$102.08

-0.76 (-0.74%)

MOR

MorphoSys

$32.92

0.41 (1.26%)

NVS Novartis
$80.89

2.17 (2.76%)

07/18/18
WELS
07/18/18
NO CHANGE
WELS
Novartis report has negative read through for Teva, Mylan, says Wells Fargo
Wells Fargo analyst David Maris noted that Novartis (NVS) lowered its 2018 guidance for Sandoz along with its Q2 report and reportedly told Bloomberg that it would consider selling the generic drug unit. He sees a negative read through for companies with large U.S. commodity generic exposure, such as Teva (TEVA) and Mylan (MYL), from Novartis' report, Maris tells investors. He also noted that Novartis said it will not increase prices on its drugs in the U.S. for the rest of 2018, as Pfizer (PFE) recently has also said, calling this "a wise approach and correct read of the increasing intensity of the scrutiny around rising healthcare costs." Maris continues to expect the " chilling effect" on price increases to spread through the industry. Lastly, the analyst pointed out that the Amgen-partnered (AMGN) launch of Aimovig is off to a strong start, which he believes bodes well for Teva's fremanezumab and Eli Lilly's (LLY) galcanezumab.
07/16/18
MSCO
07/16/18
INITIATION
Target $37
MSCO
Overweight
AvroBio initiated with an Overweight at Morgan Stanley
Morgan Stanley analyst David Lebowitz initiated AvroBio (AVRO) with an Overweight rating and $37 price target, noting that its a unique gene therapy company that has human clinical data for one of its programs at the time of its initial public offering. He points to Novartis' (NVS) recent acquisition of AveXis for $8.7B, or an 88% premium, as an illustration of the substantial interest in and valuation premium put into many names in the gene therapy space.
07/12/18
PIPR
07/12/18
NO CHANGE
Target $95
PIPR
Neutral
PTAB decision on Gilenya positive for Celgene, says Piper Jaffray
Piper Jaffray analyst Christopher Raymond expects the market to react positively with respect to Celgene (CELG) shares, at least initially, following the Patent Trial and Appeal Board decision regarding ozanimod competitor Gilenya from Novartis (NVS). Yesterday, the PTAB issued a decision that upholds validity of Gilenya's dosing patent in response to inter partes review petitions from multiple generic filers, Raymond tells investors in a research note. While this decision will likely be appealed, it opens up the possibility for Gilenya intellectual property runway out to 2027, when the dosing patent expire, the analyst adds. Raymond believes that not having a generic S1P class at launch for ozanimod is positive for Celgene. However, without the removal of first dose monitoring, ozanimod is not likely to be differentiated enough to make a difference, the analyst says, citing physician feedback. He keeps a Neutral rating on Celgene with a $95 price target. The stock in early trading is up 2% to $84.92.
07/11/18
WELS
07/11/18
NO CHANGE
WELS
Drug stocks may not react favorably to Pfizer price rollback, Trump tweets, says Wells Fargo
Wells Fargo analyst David Maris notes that there was widespread media coverage of drug price increases taken recently by several large cap drug companies, with President Trump criticizing Pfizer (PFE) for taking these price increases. On Tuesday, Pfizer confirmed it was rolling back its July drug price increases following a conversation with President Trump, he adds. Maris believes that drug stocks will not react favorably to this news, given the chilling effect this will likely have on others looking to take price increases. Nonetheless, the analyst points out that the price increases taken in July are only a small number of increases taken over the past year or several years, so the impact of the rollback to the healthcare system is insignificant in the big picture. Other publicly traded companies in the space include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Roche (RHHBY) and Sanofi (SNY).
GLPG Galapagos NV
$102.08

-0.76 (-0.74%)

06/29/18
COWN
06/29/18
NO CHANGE
COWN
Outperform
Galapagos trial disappointment positive for Vertex, says Cowen
Cowen analyst Phil Nadeau noted Galapagos (GLPG) reported its first efficacy data for its drug candidate GLPG2737. The drug produced improvements in lung function and sweat chloride, but those results were well below those produced by Vertex's (VRTX) C2 correctors, implying that Galapagos is unlikely to be competitive. The results are positive for Vertex, which remains a top large cap pick for it CF franchise, said Nadeau. He reiterated his Outperform rating and $200 price target on Vertex and maintained his Outperform rating on Galapagos.
06/29/18
JPMS
06/29/18
NO CHANGE
JPMS
Overweight
Galapagos data 'meaningful positive' for Vertex, says JPMorgan
JPMorgan analyst Cory Kasimov views yesterday's "relatively underwhelming" updates from Galapagos NV (GLPG) for its Pelican trial of corrector GLPG2737 given in conjunction with Orkambi as a "meaningful positive development" for Vertex Pharmaceuticals (VRTX). There had been "prevailing investor hesitation" ahead of one of the few remaining competitive threats to Vertex's continued dominance in the cystic fibrosis space, Kasimov tells investors in a research note. The analyst continues to think that Vertex has set an "enormously high bar" in the cystic fibrosis space. He maintains an Overweight rating on the shares. The stock in premarket trading is up 8% to $159.00.
06/07/18
RBCM
06/07/18
NO CHANGE
Target $202
RBCM
Outperform
Vertex weakness into readout of Galapagos data 'unfounded,' says RBC Capital
Following the read-through from Proteostasis' (PTI) data for PTI-801 in CF patients on background Orkambi therapy, RBC Capital analyst Brian Abrahams reaffirmed his view that weakness in Vertex (VRTX) into the readout of similar Phase II CF study data from Galapagos (GLPG) is "unfounded" and presents a buying opportunity for Vertex shares. Abrahams has an Outperform rating and $202 price target on Vertex shares.
06/29/18
RBCM
06/29/18
NO CHANGE
Target $94
RBCM
Sector Perform
Galapagos NV price target lowered to $94 from $100 at RBC Capital
RBC Capital analyst Brian Abrahams lowered his price target on Galapagos (GLPG) to $94 and kept his Sector Perform rating after the company's phase 2 trial data for '2737 suggested that it will be hard for it to compete with Vertex (VRTX) in Cystic fibrosis. Abrahams says he is removing the CF value from his model, even though he sees some support for the stock price from the program's "modest expectations" ahead of the trial and the promise of its lead asset filgotinib.
MOR MorphoSys
$32.92

0.41 (1.26%)

05/14/18
JMPS
05/14/18
INITIATION
Target $38
JMPS
Outperform
MorphoSys initiated with an Outperform at JMP Securities
JMP Securities analyst Konstantinos Aprilakis initiated MorphoSys AG with an Outperform rating and $38 price target, estimating blockbuster peak U.S. sales potential for Tremfya in psoriasis of $3.2B in 2026, with royalties of about 4.5% due to MorphoSys. In addition to Tremfya, the company's first therapeutic antibody to achieve commercialization, MorphoSys has "one of the most prolific antibody discovery platforms in all of biotech," Aprilakis tells investors.
05/17/18
JPMS
05/17/18
INITIATION
Target $30
JPMS
Overweight
MorphoSys initiated with an Overweight at JPMorgan
JPMorgan started MorphoSys with an Overweight rating and $30 price target.

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GM

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UBER

Uber

$41.40

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APTO

Aptose Biosciences

$2.01

0.03 (1.52%)

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TRNX

Taronis Technologies

$0.48

0.004 (0.84%)

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USEG

U.S. Energy

$0.45

0.0373 (9.10%)

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AAPL

Apple

$179.03

-0.64 (-0.36%)

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SPCB

SuperCom

$1.17

-0.005 (-0.43%)

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USEG

U.S. Energy

$0.45

0.0373 (9.10%)

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MYOV

Myovant Sciences

$12.39

-0.465 (-3.62%)

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MYOV

Myovant Sciences

$12.39

-0.465 (-3.62%)

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NVS

Novartis

$87.49

3.03 (3.59%)

, QGEN

Qiagen

$38.22

-0.255 (-0.66%)

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QGEN

Qiagen

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AVH

Avianca

$3.96

0.91 (29.84%)

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AAPL

Apple

$179.03

-0.64 (-0.36%)

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SHSP

SharpSpring

$16.37

-0.24 (-1.44%)

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CREG

China Recycling Energy

$0.48

0.005 (1.05%)

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FENC

Fennec

$3.88

(0.00%)

16:36
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TD

Toronto-Dominion

$56.66

0.65 (1.16%)

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CBUS

Cibus

$0.00

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BA

Boeing

$355.14

4.57 (1.30%)

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FB

Facebook

$181.03

0.14 (0.08%)

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$355.14

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FB

Facebook

$181.03

0.14 (0.08%)

BA

Boeing

$355.14

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UAL

United Continental

$80.77

-0.14 (-0.17%)

SMI

SMIC

$5.23

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HPQ

HP Inc.

$20.03

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HPE

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$14.36

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NVS

Novartis

$87.49

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CNC

Centene

$56.84

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WCG

WellCare

$275.45

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TSS

TSYS

$113.42

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GPN

Global Payments

$153.42

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HIBB

Hibbett Sports

$23.91

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DVAX

Dynavax

$5.77

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FL

Foot Locker

$44.39

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SPLK

Splunk

$119.13

-9.55 (-7.42%)

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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
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05/24
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16:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
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05/24
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Technical Analysis
NYSE market internals summary »

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RHE

Regional Health Properties

$2.06

0.09 (4.57%)

16:15
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Hot Stocks
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