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NVS

Novartis

$80.84

-0.05 (-0.06%)

12:20
07/19/18
07/19
12:20
07/19/18
12:20

Novartis option volume is 9X daily average as calls see interest after earnings

Novartis option volume is 9X daily average as calls see interest after earnings. The stock gained nearly 3% yesterday after the company released results Wednesday morning and has given back 15c to $80.81 Thursday. In option action, Jul 80 calls trade for $1.10 and 1.5 per contract, as players are apparently covering (short) calls that expire tomorrow: 9.5K trade against 15.4K open interest (largest OI in the name). Meanwhile, buyers are active and openings positions in Oct 85 calls, where 4.7K contracts changed hands. Aug 82.5 calls, Aug 77.5 calls, and Aug 80 calls are active as well. Total volume 20K calls and just 140 puts.

NVS Novartis
$80.84

-0.05 (-0.06%)

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.
07/18/18
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.
07/19/18
LEHM
07/19/18
UPGRADE
LEHM
Equal Weight
Novartis upgraded to Equal Weight from Underweight at Barclays
07/19/18
WELS
07/19/18
NO CHANGE
Target $240
WELS
Outperform
Allergan wet AMD data exceed 'unofficial benchmark,' says Wells Fargo
The released efficacy data from Allergan's (AGN) two Phase III trials of its anti-VEGF treatment abicipar in wet age-related macular degeneration looks to have exceeded the "unofficial benchmark set by potential extended-duration competitors," Novartis' (NVS) brolucizumab and Regeneron's (REGN) Eylea, Wells Fargo analyst David Maris tells investors in a research note. The analyst forecasts $125M in sales for abicipar in its first year on the market in 2020 and estimates it will grow to $500M in 2022. Maris keeps an Outperform rating on Allergan with a $240 price target.

TODAY'S FREE FLY STORIES

KSS

Kohl's

$55.53

-7.42 (-11.79%)

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05/21
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  • 21

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DWDP

DowDuPont

$32.01

0.99 (3.19%)

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TOL

Toll Brothers

$38.40

0.88 (2.35%)

15:34
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15:34
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15:34
Options
Toll Brothers options imply 8.8% move in share price post-earnings, above median historical move »

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  • 22

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GEO

Geo Group

$22.01

0.18 (0.82%)

15:30
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Options
Put spreads in Geo Group as a bearish position is adjusted »

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KSS

Kohl's

$55.88

-7.07 (-11.23%)

, AMZN

Amazon.com

$1,858.97

0.16 (0.01%)

15:26
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15:26
Recommendations
Kohl's, Amazon.com, Planet Fitness analyst commentary at Jefferies »

Kohl's price target…

KSS

Kohl's

$55.88

-7.07 (-11.23%)

AMZN

Amazon.com

$1,858.97

0.16 (0.01%)

PLNT

Planet Fitness

$76.76

-1.01 (-1.30%)

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  • 21

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TSLA

Tesla

$205.05

-0.2 (-0.10%)

15:24
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Periodicals
Tesla lowers base price of new Model S, Model X cars, Electrek reports »

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  • 11

    Jun

URBN

Urban Outfitters

$27.07

0.11 (0.41%)

15:19
05/21/19
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15:19
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15:19
Options
Urban Outfitters options imply 13.1% move in share price post-earnings, above median historical move »

Pre-earnings options…

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  • 21

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WYNN

Wynn Resorts

$120.62

1.5 (1.26%)

15:17
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15:17
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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

15:17
05/21/19
05/21
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15:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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OCX

OncoCyte

$5.08

-0.08 (-1.55%)

15:16
05/21/19
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15:16
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OncoCyte presents 'positive' results from R&D validation study of DetermaVu »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

15:16
05/21/19
05/21
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Technical Analysis
NYSE market internals summary »

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YPF

YPF

$15.35

(0.00%)

15:15
05/21/19
05/21
15:15
05/21/19
15:15
Options
YPF put volume heavy and directionally bearish »

Bearish flow noted in YPF…

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15:10
05/21/19
05/21
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General news
Treasury Market Summary »

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JWN

Nordstrom

$37.82

0.36 (0.96%)

15:04
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05/21
15:04
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15:04
Options
Nordstrom options imply 11.8% move in share price post-earnings, above median historical move »

Pre-earnings options…

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  • 21

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EADSY

Airbus

$0.00

(0.00%)

15:03
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15:03
Periodicals
Airbus CEO hints at launch of new A321 plane, Reuters says »

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TPL

Texas Pacific Land Trust

$853.39

8.39 (0.99%)

15:02
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Texas Pacific Land Trust files lawsuit against trustee Eric Oliver »

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LOW

Lowe's

$111.18

1.94 (1.78%)

15:00
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Options
Lowe's options volume is 3X daily average ahead of earnings »

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  • 22

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MNK

Mallinckrodt

$9.55

-3.47 (-26.65%)

14:59
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14:59
Recommendations
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PM

Philip Morris

$85.97

-0.26 (-0.30%)

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SE

Sea Limited

$25.41

-0.39 (-1.51%)

14:49
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14:49
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Options
Sea Limited options imply 14.3% move in share price post-earnings, above median historical move »

Pre-earnings options…

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  • 21

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AAPL

Apple

$187.49

4.43 (2.42%)

14:31
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14:31
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14:31
Periodicals
Apple expands keyboard repair program to include butterfly mechanism, Verge says »

Apple is updating its…

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  • 03

    Jun

CC

Chemours

$23.77

1.35 (6.02%)

14:30
05/21/19
05/21
14:30
05/21/19
14:30
Options
5K Chemours Oct 16 - 20 put spreads bought for 92c as shares rally »

5K Chemours Oct 16 - 20…

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14:25
05/21/19
05/21
14:25
05/21/19
14:25
Conference/Events
Cowen biotechnology analysts to hold an analyst/industry conference call »

Biotechnology Analysts…

QRVO

Qorvo

$62.14

0.84 (1.37%)

14:22
05/21/19
05/21
14:22
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14:22
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PED

PEDEVCO Corp.

$2.02

-0.06 (-2.88%)

14:21
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PEDEVCO Corp. announces sale of stock to SK Energy, two unaffiliated investors »

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