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MDGL

Madrigal Pharmaceuticals

$246.59

-4.69 (-1.87%)

, GILD

Gilead

$77.86

-0.08 (-0.10%)

07:49
08/07/18
08/07
07:49
08/07/18
07:49

Intereconomia claims Madrigal sale process will close next Monday

Spanish media group Intereconomia reported that Madrigal Pharmaceuticals' (MDGL) sale process will end next Monday. Gilead Sciences (GILD) has emerged with the winning bid, beating out Germany's Merck KGaA (MKGAY), Intereconomia says in a new report, citing sources close to the negotiation. On July 20 the website claimed that Merck KGaA would likely acquire Madrigal the following week. Intereconomia also reported in June that Roche (RHHBY) could announce a buyout of Tesaro (TSRO) in the coming days. A deal for Tesaro is yet to be announced. Reference Link

MDGL

Madrigal Pharmaceuticals

$246.59

-4.69 (-1.87%)

GILD

Gilead

$77.86

-0.08 (-0.10%)

MKGAY

Merck KGaA

$0.00

(0.00%)

RHHBY

Roche

$0.00

(0.00%)

TSRO

Tesaro

$27.01

0.07 (0.26%)

  • 08

    Aug

  • 30

    Aug

  • 31

    Aug

MDGL Madrigal Pharmaceuticals
$246.59

-4.69 (-1.87%)

08/06/18
GSCO
08/06/18
UPGRADE
Target $157
GSCO
Buy
Intercept upgraded to Buy from Sell at Goldman Sachs
Goldman Sachs analyst Salveen Richter double upgraded Intercept Pharmaceuticals (ICPT) to Buy from Sell and raised his price target for the shares to $157 from $46. The stock closed Friday down 3.5%, or $3.57, to $97.26. The analyst says Ocaliva in fatty liver disease nonalcoholic steatohepatitis is the crux of Intercept's value proposition and that he's positive into the Phase 3 Regenerate interim readout in the first half of 2019. Richter this morning also downgraded Madrigal Pharmaceuticals (MDGL) to Neutral from Buy. He believes, however, that Madrigal's MGL-3196 is a "best-in-industry, next-generation" drug for nonalcoholic steatohepatitis. The analyst expects Intercept's Ocaliva will achieve one or both of the Phase 3 co-primary endpoints of NASH resolution and fibrosis improvement. He sees share upside of 60%-plus as the first half of 2019 catalyst approaches. Intercept should benefit from Ocaliva's global first-mover advantage in NASH, Richter tells investors in a research note. Goldman estimates peak global sales of NASH drugs to be $3.7B.
08/06/18
GSCO
08/06/18
DOWNGRADE
Target $314
GSCO
Neutral
Madrigal Pharmaceuticals downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Salveen Richter downgraded Madrigal Pharmaceuticals to Neutral with an unchanged price target of $314. The stock closed Friday down 41c to $250.93. The analyst continues to view MGL-3196 as a "best-in-industry, next-generation drug" for nonalcoholic steatohepatitis. However, with the stock up 173% year-to-date, he believes Madrigal is entering a "period of limited value-driving catalysts." Richter, while admitting a buyout could occur, sees limited upside in the shares.
06/28/18
RAJA
06/28/18
INITIATION
RAJA
Market Perform
Madrigal Pharmaceuticals initiated with a Market Perform at Raymond James
07/12/18
CANT
07/12/18
INITIATION
Target $59
CANT
Overweight
Cantor puts $59 price target on 'undervalued' NASH play Galmed
Cantor Fitzgerald analyst Elemer Piros last night initiated coverage of Galmed Pharmaceuticals (GLMD) with an Overweight rating and $59 price target. The stock closed yesterday down 45c to $10.55. The company is developing Aramchol, a novel, once-daily, oral therapy to treat liver diseases using fattyacid/bile-acid conjugates, Piros tells investors in a research note. The analyst believes that by Q4 of 2019, only three meaningful non-alcoholic steatohepatitis pivotal programs will be in development: Allergan's (AGN) cenicriviroc, Madrigal Pharmaceuticals' (MDGL) MGL-3196, and Galmed's Aramchol. Of the three drugs, Galmed's has the highest likelihood of achieving improvement on NASH resolution without worsening of fibrosis, and improvement in fibrosis score without worsening of NASH, Piros argues. He believes Galmed is undervalued relative to peers in the NASH space.
GILD Gilead
$77.86

-0.08 (-0.10%)

07/26/18
JEFF
07/26/18
NO CHANGE
Target $95
JEFF
Buy
Gilead stock would be 'trading up nicely' if not for CEO news, says Jefferies
Jefferies analyst Michael Yee said Gilead's Q2 results were solid and consistent with the positive turnaround story that is unfolding and he is confident the stock "would be trading up nicely" if not for the concurrent announcement that "well-liked" John Milligan will be stepping down as CEO. While a CEO search may present a small period of uncertainty, Yee would be a buyer of the stock, which he still sees moving to $90 by year-end amid rising anticipation of Phase 3 NASH data in the first half of next year. Yee keeps a Buy rating and $95 price target on Gilead shares.
07/26/18
WELS
07/26/18
NO CHANGE
Target $95
WELS
Outperform
Gilead price target raised to $95 from $89 at Wells Fargo
Wells Fargo analyst Jim Birchenough raised his price target for Gilead to $95 from $89 following better than expected Q2 operating results. With increasing confidence in 2018 as a trough earnings year, strong HIV growth outpacing HCV decline and emerging data over the next 12 months in large categories of cell therapy, immunology and NASH, the analyst expects continued multiple expansion following Q2 results. He reiterates an Outperform rating on the shares.
07/26/18
BARD
07/26/18
DOWNGRADE
BARD
Neutral
Gilead downgraded to Neutral from Outperform at Baird
07/26/18
07/26/18
DOWNGRADE
Target $79

Neutral
Gilead downgraded to Neutral after CEO resignation at Baird
As previously reported, Baird analyst Brian Skorney downgraded Gilead (GILD) to Neutral from Outperform following the announcement that John Milligan is stepping down as CEO, which he said leaves the company without clear direction. The HIV franchise had an "impressive quarter" and the HCV franchise had "a quarter of stability," but Skorney has concerns over further price erosion after Merck (MRK) just announced a 60% price cut to Zepatier, he tells investors. Yescarta sales, while ahead of his and consensus estimates, were still far from validating the Kite acquisition, added Skorney, who has a $79 price target on Gilead shares.
MKGAY Merck KGaA
$0.00

(0.00%)

RHHBY Roche
$0.00

(0.00%)

07/11/18
ADAM
07/11/18
NO CHANGE
Target $140
ADAM
Buy
Celgene's Buy rating backed at Canaccord following Phase 3 Impassion130 results
Canaccord analyst John Newman maintained a Buy rating and $140 price target on Celgene (CELG) after the company said that the Phase 3 Impassion130 study showed progression-free survival, or PFS, improvement for 1L metastatic or unresectable triple negative breast cancer with Abraxane plus Tecentriq (RHHBY) , which opens the door to Tencentriq in this indication. In a research note to investors, Newman says he expects continued upside from pipeline advances and diversification based on in-licensing, M&A and organic R&D and that, as there are currently no alternatives to chemotherapy, the combination of Abraxane plus Tecentriq should see widespread use if approved. He views the advances in TNBC "very positively" given the high unmet need for viable therapy.
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).
07/11/18
PIPR
07/11/18
NO CHANGE
Target $365
PIPR
Overweight
Biogen price target raised to $365 from $353 at Piper Jaffray
Piper Jaffray analyst Christopher Raymond raised his price target for Biogen (BIIB) to $365 saying a survey of 101 neurologists gives him increased confidence in the staying power of the company's multiple sclerosis franchise. Tecfidera market share "edged up slightly" during the quarter, and the survey shows signs of Roche's (RHHBY) Ocrevus "hitting a bit of a wall," Raymond tells investors in a research note. Further, the analyst continues to hear feedback that Celgene's (CELG) ozanimod "will be minimally differentiated." Despite increased signs of payer activism in the space, Biogen's MS franchise is well positioned for the near-to-intermediate term, Raymond contends. He raised his estimates for Tecfidera and keeps an Overweight rating on Biogen.
06/28/18
WELS
06/28/18
NO CHANGE
WELS
Wells says Amazon deal, Walgreens results have negative read for drug pricing
After Amazon (AMZN) agreed to acquire online pharmacy PillPack, reportedly for $1B, Wells Fargo analyst David Maris noted that he has long stated that Amazon would enter the pharmacy business and warned about the risk to drug pricing in such a scenario. Maris also noted that Walgreens (WBA) reported its U.S. retail pharmacy comparable store sales fell 1.2% in Q3, adding that retailers tend to push drugmakers on price when they feel pressure and the read-through from its report may be negative for drug pricing. Publicly traded large-cap drugmakers include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).
TSRO Tesaro
$27.01

0.07 (0.26%)

08/06/18
SBSH
08/06/18
NO CHANGE
Target $100
SBSH
Buy
Tesaro earnings pullback a buying opportunity, says Citi
Citi analyst Robyn Karnauskas views the post-earnings pullback in shares of Tesaro as a buying opportunity. While Zejula guidance was lowered for fiscal 2018, the SITC data remains a key catalyst, Karnauskas tells investors in a research note. She believes Lynparza approval likely in first line gBRCA maintenance and reiterates a Buy rating on Tesaro with a $100 price target.
08/06/18
BOFA
08/06/18
DOWNGRADE
BOFA
Neutral
Tesaro downgraded to Neutral from Buy at BofA/Merrill
08/06/18
08/06/18
DOWNGRADE
Target $35

Neutral
Tesaro downgraded to Neutral at BofA/Merrill
As previously reported, BofA/Merrill downgraded Tesaro to Neutral from Buy and slashed its price target to $35 from $72 following the Q2 report last week. Analyst Tazeen Ahmad said PARP inhibitor sales for maintenance treatment of ovarian cancer were below expectations and management lowered guidance citing the slower than expected ramp of the PARP class. Ahmad said physicians are deciding the right population and two other competitor drugs which is impacting uptake.
08/03/18
RBCM
08/03/18
NO CHANGE
Target $38
RBCM
Sector Perform
Tesaro price target lowered to $38 from $46 at RBC Capital
RBC Capital analyst Kennen MacKay lowered his price target on Tesaro to $38 and kept his Sector Perform rating after its guidance cut to FY18 Zejula estimates. The analyst notes that the drug's "geographic split is concerning" and may be indicative of a growth decline in the U.S. market, potentially because of toxicity-related dose reductions.

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AU

AngloGold

$7.15

-0.015 (-0.21%)

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XOP

SPDR Oil Exploration and Production Fund

$39.57

0.08 (0.20%)

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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13:16
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13:05
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General news
Baker-Hughes Rig Count N. Amer. data reported »

Week of 8/17 Baker-Hughes…

ZOES

Zoe's Kitchen

$12.80

3.275 (34.40%)

13:02
08/17/18
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BHGE

Baker Hughes

$31.02

-0.57 (-1.80%)

13:02
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ZOES

Zoe's Kitchen

$12.80

3.275 (34.40%)

13:01
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  • 17

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ATGE

Adtalem Global Education

$47.20

-8.5 (-15.26%)

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  • 27

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SPY

SPDR S&P 500 ETF Trust

$284.47

0.38 (0.13%)

, XLF

Financial Select Sector

$28.12

0.02 (0.07%)

12:43
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Technical Analysis
On The Fly: ETF fund flow highlights »

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SPY

SPDR S&P 500 ETF Trust

$284.47

0.38 (0.13%)

XLF

Financial Select Sector

$28.12

0.02 (0.07%)

XLU

Utilities SPDR

$54.50

0.25 (0.46%)

VT

Vanguard Total World Stock ETF

$74.55

0.175 (0.24%)

GLD

SPDR Gold Trust

$111.57

0.46 (0.41%)

VOO

Vanguard S&P 500 ETF

$261.36

0.34 (0.13%)

IVV

iShares Core S&P 500

$286.46

0.34 (0.12%)

SPLV

Powershares S&P 500 Low Volatility Portfolio

$49.79

0.23 (0.46%)

SSO

ProShares Ultra S&P 500

$121.69

0.34 (0.28%)

XLP

Consumer Staples Sector SPDR

$55.01

0.38 (0.70%)

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V

Visa

$141.08

0.44 (0.31%)

12:40
08/17/18
08/17
12:40
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Options
Opening activity in Visa expiring puts »

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  • 06

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ANET

Arista Networks

$269.22

1.35 (0.50%)

, AAPL

Apple

$216.51

3.02 (1.41%)

12:38
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ANET

Arista Networks

$269.22

1.35 (0.50%)

AAPL

Apple

$216.51

3.02 (1.41%)

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  • 20

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  • 04

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SYNL

Synalloy

$23.10

0.2 (0.87%)

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Synalloy's Bristol Metals awarded $8M tubing order »

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CWT

California Water Service

$40.90

0.25 (0.62%)

, SJW

SJW Corp.

$66.74

0.2 (0.30%)

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CWT

California Water Service

$40.90

0.25 (0.62%)

SJW

SJW Corp.

$66.74

0.2 (0.30%)

CTWS

Connecticut Water

$68.23

0.15 (0.22%)

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NTNX

Nutanix

$52.99

-2.71 (-4.87%)

12:25
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Nutanix call volume above normal and directionally bullish »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
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08/17
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12:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
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08/17
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NYSE market internals summary »

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NFG

National Fuel

$57.05

0.47 (0.83%)

12:10
08/17/18
08/17
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12:10
Options
Notable new position opened in National Fuel Gas options »

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CMG

Chipotle

$507.92

5.34 (1.06%)

12:06
08/17/18
08/17
12:06
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12:06
Periodicals
Chipotle to require all workers to take quarterly food-safety test, BI reports »

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  • 24

    Sep

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