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LLY

Eli Lilly

$89.45

-0.6 (-0.67%)

, INCY

Incyte

$70.10

-0.3 (-0.43%)

18:33
07/19/18
07/19
18:33
07/19/18
18:33

Lancet study shows benefit of Baricitinib 4 mg for treatment of SLE

Eli Lilly (LLY) and Incyte (INCY) announced that results of a global systemic lupus erythematosus, or SLE, Phase 2 study for baricitinib were published by The Lancet. The study, the first completed Phase 2 study of a JAK inhibitor in SLE, showed that a statistically significant proportion of patients treated with 4 mg of baricitinib achieved resolution of their SLE-related arthritis or rash compared to placebo at week 24, the primary endpoint for the trial. Lilly plans to initiate Phase 3 trials to evaluate the safety and efficacy of baricitinib for the treatment of SLE in the second half of 2018. In the study, 314 patients were randomized 1:1:1 to receive placebo, baricitinib 2 mg or baricitinib 4 mg. Patients treated with 4 mg of baricitinib experienced improvements compared to placebo on several pre-specified secondary endpoints. Compared to placebo, a statistically significant greater proportion of patients treated with 4 mg of baricitinib experienced lower overall disease activity at week 24 as measured by the SLE Responder Index 4. A statistically significant greater proportion of patients treated with 4 mg of baricitinib achieved a state of low disease activity, as measured by the Lupus Low Disease Activity State, and experienced improvements in pain from baseline, two exploratory endpoints of the study. The percentage of patients stopping therapy through the 24-week treatment period was 21% in the placebo group, 18% in the 2-mg dosing group and 17% in the 4-mg dosing group. The most common treatment emergent adverse events in the baricitinib groups were upper respiratory tract infections, including viral upper respiratory infections, and urinary tract infections. The frequency of serious adverse events was 5% for placebo, 10.5% in the 2-mg dosing group and 9.6% in the 4-mg dosing group; the most common SAEs were serious infections. One case of deep vein thrombosis was reported in the 4-mg dosing group. There were no deaths, malignancies, major adverse cardiovascular events, tuberculosis, or serious herpes zoster infections.

LLY

Eli Lilly

$89.45

-0.6 (-0.67%)

INCY

Incyte

$70.10

-0.3 (-0.43%)

  • 24

    Jul

  • 31

    Jul

  • 10

    Sep

LLY Eli Lilly
$89.45

-0.6 (-0.67%)

07/17/18
CANT
07/17/18
NO CHANGE
CANT
Overweight
Aclaris offers best risk/reward of hair loss players, says Cantor Fitzgerald
The potential for JAK inhibitors to treat alopecia areata may be underappreciated by investors because the Street does not appear to be ascribing enough value to the opportunity, Cantor Fitzgerald analyst Louise Chen tells investors in a research note. Of the three companies she covers developing JAKs for hair loss, Aclaris Therapeutics (ACRS), Eli Lilly (LLY) and Pfizer (PFE), the analyst believes Aclaris offers the best risk/reward and greatest upside potential. The company has a market cap below $700M and two potential "shots on goal" for alopecia areata, Chen writes. She estimates combined peak sales of $1B-plus for both opportunities and keeps an Overweight rating on Aclaris. The physicians the analyst spoke to believe the company's JAKs for hair loss will work.
07/18/18
PIPR
07/18/18
NO CHANGE
Target $450
PIPR
Overweight
Piper maintains Overweight on Regeneron on tanezumab news
Piper Jaffray analyst Christopher Raymond keeps an Overweight rating on Regeneron Pharmaceuticals (REGN) on news that tanezumab, Pfizer (PFE) and Eli Lilly's (LLY) anti-NGF antibody that is a competitor to Regeneron's fasinumab, successfully completed the first of several Phase 3 trials. Fasinumab remains an unmodeled opportunity, but the read-through from tanezumab is positive and the market for an effective, non-opioid chronic pain treatment is "massive," Raymond tells investors in a research note. The analyst points out that Regeneron and Teva (TEVA) still expect to report Phase 3 data starting later this year. Raymond keeps an Overweight rating on Regeneron with a $450 price target.
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
BMOC
07/19/18
NO CHANGE
Target $80
BMOC
Market Perform
Eli Lilly to have a 'good Q2' on beats from launch franchises, says BMO Capital
BMO Capital analyst Alex Arfaei raised his price target on Eli Lilly to $80 from $78 ahead of its Q2 earnings, saying the company will have a "good" quarter on "beats from its launch franchises Trulicity, Jardiance, and Basaglar". The analyst also keeps his Market Perform rating, adding that while the the pipeline potential of its Galcanezumab and Tanezumab drugs is promising, he believes investors are underappreciating the headwinds around its diabetes program. He see higher risks of an increased biosimilar erosion for Humalog from Sanofi's (SNY) Admelog, and Trulicity competitive pressure from Novo's (NVO) Ozempic in 2019.
INCY Incyte
$70.10

-0.3 (-0.43%)

07/13/18
MSCO
07/13/18
DOWNGRADE
Target $76
MSCO
Equal Weight
Incyte downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Matthew Harrison downgraded Incyte to Equal Weight from Overweight as he believes key catalysts are unlikely until 2019 and he expects the stock to trade with the market in the meantime. However, Harrison said he is positive on the depth and diversity of the company's pipeline following the analyst day deep-dive and he thinks 2019 could be a pivotal year. He maintains a $76 price target on Incyte shares.
07/13/18
MSCO
07/13/18
DOWNGRADE
MSCO
Equal Weight
Incyte downgraded to Equal Weight from Overweight at Morgan Stanley
07/13/18
07/13/18
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. AT&T (T) downgraded to Market Perform from Outperform at Raymond James with analyst Frank Louthan saying he views the Department of Justice appeal of the Time Warner case as a negative and said it is a "frustrating delay." Louthan expects the suit to be a "significant overhang" for an extended period of time, which will limit share appreciation, but remains confident AT&T will prevail. 2. Incyte (INCY) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Matthew Harrison saying he believes key catalysts are unlikely until 2019 and he expects the stock to trade with the market in the meantime. 3. WisdomTree (WETF) was downgraded to Market Perform from Outperform at Keefe Bruyette and to Neutral from Buy at Citi. 4. Cedar Fair (FUN) downgraded to Neutral from Outperform at Macquarie. 5. Ingredion (INGR) downgraded to Sell from Neutral at Citi with analyst David Driscoll saying he expects the stock's valuation multiples to compress as investors sort through the number of issues that have come to light. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/18/18
OPCO
07/18/18
NO CHANGE
Target $70
OPCO
Perform
Incyte price target raised to $70 from $65 at Oppenheimer
Oppenheimer analyst Jay Olson raised his price target for Incyte to $70 from $65 as several options in MPNs with combinations on top of Jakafi could solidify the franchise against potential competition, and early data will be available for several combinations in 2H18 and 2019. The analyst reiterates a Neutral rating on the shares.

TODAY'S FREE FLY STORIES

FBP

First BanCorp

$8.98

-0.35 (-3.75%)

14:17
11/14/18
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14:17
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Breaking Hot Stocks news story on First BanCorp »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
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11/14
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NASDAQ market internals summary »

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14:17
11/14/18
11/14
14:17
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14:17
Conference/Events
Bernstein transportation analysts to hold an analyst/industry conference call »

European Transportation…

$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
11/14/18
11/14
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Technical Analysis
NYSE market internals summary »

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FITB

Fifth Third

$26.79

-0.91 (-3.29%)

14:15
11/14/18
11/14
14:15
11/14/18
14:15
Options
Fifth Third put volume heavy and directionally bearish »

Bearish flow noted in…

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BUD

AB InBev

$76.46

3.23 (4.41%)

14:05
11/14/18
11/14
14:05
11/14/18
14:05
Options
Anheuser Busch call volume above normal and directionally bullish »

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  • 14

    Nov

AQMS

Aqua Metals

$2.47

-0.02 (-0.80%)

, JCI

Johnson Controls

$33.25

-1.54 (-4.43%)

14:02
11/14/18
11/14
14:02
11/14/18
14:02
Hot Stocks
Aqua Metals announces official vendor certification from Johnson Controls »

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AQMS

Aqua Metals

$2.47

-0.02 (-0.80%)

JCI

Johnson Controls

$33.25

-1.54 (-4.43%)

03/08/13
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INFN

Infinera

$4.42

0.02 (0.45%)

13:56
11/14/18
11/14
13:56
11/14/18
13:56
Hot Stocks
Infinera CFO Brad Feller buys 40K shares of company stock »

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GME

GameStop

$13.21

-0.68 (-4.90%)

13:55
11/14/18
11/14
13:55
11/14/18
13:55
Options
GameStop put volume heavy and directionally bearish »

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  • 15

    Nov

LBRDA

Liberty Broadband

$82.54

0.02 (0.02%)

13:55
11/14/18
11/14
13:55
11/14/18
13:55
Conference/Events
Liberty Broadband to host investor meeting »

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  • 14

    Nov

APRN

Blue Apron

$1.15

-0.07 (-5.74%)

13:52
11/14/18
11/14
13:52
11/14/18
13:52
Downgrade
Blue Apron rating change  »

Blue Apron downgraded to…

03/08/13
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  • 14

    Nov

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GOOS

Canada Goose

$63.55

4.95 (8.45%)

13:46
11/14/18
11/14
13:46
11/14/18
13:46
Recommendations
Canada Goose analyst commentary  »

Canada Goose price target…

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  • 14

    Nov

COG

Cabot Oil & Gas

$25.96

-0.54 (-2.04%)

13:40
11/14/18
11/14
13:40
11/14/18
13:40
Options
Aggressive call buying in Cabot Oil and Gas »

Aggressive call buying in…

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  • 26

    Nov

ACU

Acme United

$16.35

-1.03 (-5.93%)

13:38
11/14/18
11/14
13:38
11/14/18
13:38
Hot Stocks
Acme United raises quarterly dividend 9% to 12c per share »

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FB

Facebook

$143.10

0.91 (0.64%)

13:34
11/14/18
11/14
13:34
11/14/18
13:34
Periodicals
Facebook morale takes hit amid challenging year, WSJ reports »

Facebook's…

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  • 28

    Nov

ERIC

Ericsson

$8.55

-0.37 (-4.15%)

13:33
11/14/18
11/14
13:33
11/14/18
13:33
Periodicals
Ericsson CEO not seeing sales boost as security worries hit rivals, Reuters says »

Ericsson CEO Borje Ekholm…

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  • 14

    Nov

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  • 14

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  • 26

    Nov

BMWYY

BMW

$0.00

(0.00%)

, VOD

Vodafone

$20.26

0.17 (0.85%)

13:30
11/14/18
11/14
13:30
11/14/18
13:30
Periodicals
BMW, Vodafone, Ericsson urge EU to weigh 5G car technology, Reuters says »

BMW (BMWYY), Vodafone…

BMWYY

BMW

$0.00

(0.00%)

VOD

Vodafone

$20.26

0.17 (0.85%)

ERIC

Ericsson

$8.55

-0.37 (-4.15%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 14

    Nov

  • 14

    Nov

  • 14

    Nov

  • 14

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  • 26

    Nov

BIG

Big Lots

$43.00

-1.02 (-2.32%)

13:30
11/14/18
11/14
13:30
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13:30
Options
Bearish option flow in Big Lots »

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GLIBA

GCI Liberty

$47.08

0.59 (1.27%)

13:25
11/14/18
11/14
13:25
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Conference/Events
GCI Liberty to host investor meeting »

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  • 14

    Nov

LBRDK

Liberty Broadband

$82.44

-0.1 (-0.12%)

13:25
11/14/18
11/14
13:25
11/14/18
13:25
Conference/Events
Liberty Broadband to host investor meeting »

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  • 14

    Nov

GS

Goldman Sachs

$200.31

-4.61 (-2.25%)

, JPM

JPMorgan

$107.15

-2.44 (-2.23%)

13:24
11/14/18
11/14
13:24
11/14/18
13:24
Periodicals
Levi Strauss looking to raise $600M-$800M in IPO, CNBC reports »

Levi Strauss is planning…

GS

Goldman Sachs

$200.31

-4.61 (-2.25%)

JPM

JPMorgan

$107.15

-2.44 (-2.23%)

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  • 26

    Feb

PCG

PG&E

$25.40

-7.3 (-22.32%)

13:22
11/14/18
11/14
13:22
11/14/18
13:22
Hot Stocks
PG&E says 23,000 electric, 12,000 gas customers without service in Butte County »

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SGH

Smart Global

$28.92

0.57 (2.01%)

13:21
11/14/18
11/14
13:21
11/14/18
13:21
Recommendations
Smart Global analyst commentary  »

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    Nov

PCG

PG&E

$25.60

-7.1 (-21.71%)

13:20
11/14/18
11/14
13:20
11/14/18
13:20
Options
PG&E implied volatility spikes to new highs as shares drop 22.6% »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
11/14/18
11/14
13:17
11/14/18
13:17
Technical Analysis
NASDAQ market internals summary »

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