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LCI

Lannett

$5.43

-8.075 (-59.81%)

, AMRX

Amneal Pharmaceuticals

$23.86

2.33 (10.82%)

15:08
08/20/18
08/20
15:08
08/20/18
15:08

Lannett price target lowered to $8 from $19 at BMO Capital

BMO Capital analyst Gary Nachman said JSP's decision to not renew its agreement with Lannett (LCI) and go with Amneal Pharmaceuticals (AMRX) is an "unfortunate development" that impacts three products, including Levothyroxine, which accounts for about 35-40% of Lannett revenue and is "very profitable." He lowered his estimates "significantly" due to this "major setback" and cut his price target on Lannett shares to $8 from $19 while maintaining a Market Perform rating on the shares.

LCI

Lannett

$5.43

-8.075 (-59.81%)

AMRX

Amneal Pharmaceuticals

$23.86

2.33 (10.82%)

  • 20

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    Aug

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    Sep

LCI Lannett
$5.43

-8.075 (-59.81%)

08/20/18
CHLM
08/20/18
DOWNGRADE
CHLM
Hold
Lannett downgraded to Hold from Buy at Craig-Hallum
08/20/18
08/20/18
DOWNGRADE
Target $7

Hold
Lannett downgraded to Hold on end of JSP relationship at Craig-Hallum
As previously reported, Craig-Hallum analyst Matt Hewitt downgraded Lannett to Hold from Buy, stating that the ending of the company's "fruitful long-time partnership" with Jerome Stephens Pharmaceuticals is a "significant disappointment" that creates a noticeable cash flow void and creates a risk that the company's debt gets refinanced at higher interest rates. Separate from the JSP announcement, Lannett also preannounced Q4 results that were below consensus, noted Hewitt, who lowered his price target on the stock to $7 from $32. Lannett shares, which were also downgraded earlier to Neutral from Buy at Roth Capital, are down $7.92, or 59%, to $5.58 in afternoon trading.
08/20/18
RAJA
08/20/18
DOWNGRADE
RAJA
Market Perform
Lannett downgraded to Market Perform from Outperform at Raymond James
08/20/18
08/20/18
DOWNGRADE

Market Perform
Lannett downgraded to Market Perform as JSP walks away from renewal at Raymond James
As previously reported, Raymond James analyst Elliot Wilbur downgraded Lannett to Market Perform from Outperform after Jerome Stevens terminated its strategic distribution agreement with the company, a deal that provided Lannett with several key products but mainly levothyroxine, which is expected to account for 35% of FY18 sales and 44% of gross profit. From a monetary perspective, the analyst believes it makes "zero sense" why JSP would walk away from the deal, inflicting significant damage on its own holdings of Lannett shares. This suggests either JSP has no confidence in the recovery value of its holdings from current levels or has sold down or hedged a substantial portion of its holdings despite prior representations from Lannett management to the contrary, Wilbur contends.
AMRX Amneal Pharmaceuticals
$23.86

2.33 (10.82%)

07/13/18
WELS
07/13/18
NO CHANGE
Target $182
WELS
Outperform
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.
07/23/18
MSCO
07/23/18
INITIATION
Target $22
MSCO
Overweight
Amneal Pharmaceuticals initiated with an Overweight at Morgan Stanley
Morgan Stanley analyst David Risinger initiated Amneal Pharmaceuticals with an Overweight rating and $22 price target, as he expects strong execution from the team that previously led Watson Pharma and believes Amneal can perform in the difficult U.S. pricing environment.
08/13/18
RBCM
08/13/18
UPGRADE
RBCM
Outperform
Amneal Pharmaceuticals upgraded to Outperform at RBC Capital
08/13/18
RBCM
08/13/18
UPGRADE
Target $27
RBCM
Outperform
Amneal Pharmaceuticals upgraded to Outperform at RBC Capital on EBITDA ramp
As reported earlier, RBC Capital analyst Randall Stanicky upgraded Amneal Pharmaceuticals to Outperform from Sector Perform and raised his price target to $27 from $17 as part of his broader view that the generic pharmaceutical sector is heading for an upturn. The analyst also notes that the company's Q2 results have offered evidence of a ramp in EBITDA beginning to take hold thanks to its "pipeline conversion and highly visible cost synergies", anticipating a deeper inflection in profitability over the next 6-12 months.

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JPM

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GM

General Motors

$35.13

0.01 (0.03%)

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$190.80

-4.7 (-2.40%)

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RNLSY

Renault

$0.00

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FMC

FMC Corporation

$70.88

-0.47 (-0.66%)

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DowDuPont

$31.10

0.16 (0.52%)

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$70.88

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DowDuPont

$31.10

0.16 (0.52%)

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MGM

MGM Resorts

$25.55

0.19 (0.75%)

13:03
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PYPL

PayPal

$109.82

-0.09 (-0.08%)

, AXP

American Express

$119.52

1.07 (0.90%)

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PYPL

PayPal

$109.82

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AXP

American Express

$119.52

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MasterCard

$251.40

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V

Visa

$162.72

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GOOG

Alphabet

$1,132.99

-7.56 (-0.66%)

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MSFT

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AMBA

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Nike

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UAA

Under Armour

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UA

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FLR

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ACM

Aecom

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X

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NUE

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FCAU

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F

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GM

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$35.13

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HMC

Honda

$25.45

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NSANY

Nissan

$0.00

(0.00%)

TM

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$118.54

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VWAGY

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$0.00

(0.00%)

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UBER

Uber

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APTO

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$2.01

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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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  • 03

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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%)

17:18
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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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NVS

Novartis

$87.49

3.03 (3.59%)

QGEN

Qiagen

$38.22

-0.255 (-0.66%)

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AVH

Avianca

$3.96

0.91 (29.84%)

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AAPL

Apple

$179.03

-0.64 (-0.36%)

16:53
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  • 03

    Jun

SHSP

SharpSpring

$16.37

-0.24 (-1.44%)

16:52
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  • 13

    Jun

CREG

China Recycling Energy

$0.48

0.005 (1.05%)

16:41
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Breaking Syndicate news story on China Recycling Energy »

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