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GKOS

Glaukos

$44.79

-0.64 (-1.41%)

, NVS

Novartis

$83.78

-0.29 (-0.34%)

08:23
08/29/18
08/29
08:23
08/29/18
08:23

Piper sees CyPass withdrawal as 'major boon' for Glaukos, ups target to $55

Piper Jaffray analyst Matt O'Brien views Alcon's immediate withdrawal of its CyPass stent for the treatment of glaucoma on safety concerns from a recently completed clinical study as a "major boon" for Glaukos (GKOS). The analyst suspects it will be several quarters before CyPass comes back to the market, with with a much narrower indication. This is a "major positive" for Glaukos as most of the clinicians using CyPass had been or are still using iStent from Glaukos, O'Brien tells investors in a research note. He anticipates many clinicians will quickly shift their volumes back to iSten, yielding "significant incremental revenues." Based on this morning's news, the analyst raised his price target for Glaukos shares to $55 from $46. He encourages investors to start or build positions in the name.

GKOS

Glaukos

$44.79

-0.64 (-1.41%)

NVS

Novartis

$83.78

-0.29 (-0.34%)

  • 05

    Sep

  • 12

    Sep

GKOS Glaukos
$44.79

-0.64 (-1.41%)

08/03/18
PIPR
08/03/18
NO CHANGE
Target $46
PIPR
Overweight
Glaukos price target raised to $46 from $38 at Piper Jaffray
Piper Jaffray analyst Matt O'Brien raised his price target for Glaukos to $46 citing the company's better than expected Q2 result. . The big news from the quarter is that Glaukos is pushing out the timing of iStent stand-alone by a couple years but accelerating the iDose by a year, O'Brien tells investors in a research note. He views the disclosure as a net neutral but expects the stock to trade down today. The analyst, however, believes the the pros outweigh the negatives and keeps a Overweight rating on Glaukos.
08/13/18
PIPR
08/13/18
NO CHANGE
Target $46
PIPR
Overweight
Glaukos competitor received FDA approval on Friday, says Piper Jaffray
Piper Jaffray analyst Matt O'Brien points out that privately-held Ivantis received FDA approval on Friday for its Hydrus stent to treat glaucoma. This should be a direct competitor to Glaukos' iStent, O'Brien tells investors in a research note. Though the timing of summer 2018 was expected, shares of Glaukos are likely to pull back today on the news, the analyst contends. O'Brien, however, does not expect too much of an impact on Glaukos sales from Ivantis given that the company still has to build out a commercial sales force and ensure proper training. In addition, the analyst believes "there is plenty of room for multiple players in this market." He remains constructive on Glaukos with an Overweight rating and $46 price target.
08/24/18
WELS
08/24/18
NO CHANGE
Target $50
WELS
Outperform
Ivantis counterclaim against Glaukos looks weak, says Wells Fargo
Following a review by his firm's patent consultant, Wells Fargo analyst Larry Biegelsen says Ivantis' counterclaim, alleging that Glaukos' new iStent inject product will infringe three Ivantis patents, appears weak. The Ivantis patents very specifically add a detail about the placement of the shunt, which reads as "too straightforward" or "obvious," the patent consultant told the analyst. As such, he believes the patents will ultimately be found invalid. Biegelsen keeps an Outperform rating on Glaukos with a $50 price target.
08/29/18
WBLR
08/29/18
NO CHANGE
WBLR
Outperform
CyPass market removal a 'clear positive' for Glaukos, says William Blair
William Blair analyst Brian Weinstein believes Alcon's voluntary global market withdrawal of its CyPass Micro-Stent for surgical glaucoma is a "clear positive for near-term numbers" at Glaukos (GKOS). If Glaukos' iStent takes all of the CyPass market share while it is off the market, the company could add as much as $50M in the U.S. alone to its 2019 total revenue of around $186M, Weinstein tells investors in a research note, while admitting this is a bullish stance. The analyst thinks the news this morning from Alcon should be viewed as a positive for Glaukos, as a major part of the short thesis was on competition in the core iStent market, mainly from Alcon. He keeps an Outperform rating on Glaukos shares.
NVS Novartis
$83.78

-0.29 (-0.34%)

08/13/18
PIPR
08/13/18
NO CHANGE
PIPR
Overweight
Regeneron should be bought on 'largely meaningless' CRL, says Piper Jaffray
Piper Jaffray analyst Christopher Raymond recommends buying shares of Regeneron Pharmaceuticals on weakness after the company received a Complete Response Letter from the FDA regarding Eylea's supplemental Biologics License Application for Q12W dosing in wet macular degeneration. The CRL is "largely meaningless" as this label expansion is almost entirely a defensive move by Regeneron to counter potential Q12W labeling by competitor Novartis' (NVS) RTH258, Raymond tells investors in a research note. The analyst has "reasonable confidence" that approval for this label will come within two months. He keeps an Overweight rating on shares of Regeneron.
08/16/18
08/16/18
DOWNGRADE

Hold
AstraZeneca downgraded to Hold following outperformance at Jefferies
As previously reported, Jefferies analyst Ian Hilliker downgraded AstraZeneca (AZN) to Hold from Buy citing valuation following the stock's outperformance since he upgraded it in March. Hilliker has raised his price target on AstraZeneca to 6,200p, but notes that this only leaves about 8% of further upside. Following results for the Q2 period, Hilliker said Novartis (NVS) remains his top European Pharmaceuticals pick, followed by Roche (RHHBY) and GlaxoSmithKline (GSK) in third place.
08/23/18
MSCO
08/23/18
NO CHANGE
Target $45
MSCO
Overweight
Pfizer price target raised to $45 from $43 at Morgan Stanley
Morgan Stanley analyst David Risinger maintained an Overweight rating on Pfizer (PFE) and raised his price target to $45 based upon a 5-year CAGR for revenue growth of 3% and EPS growth of 7%. In a research note to investors, Risinger says he believes the primary driver of major pharma stock performance in recent months is "defensive rotation." Additionally, he notes that political news has been "encouraging" as of late, with President Trump tweeting on July 19 "Thank you to Novartis (NVS) for not increasing your prices on prescription drugs. Likewise to Pfizer." Looking ahead, the analyst says to watch for U.S. pricing perception drivers in the coming months that could impact pharma stock performance, including potential additional HHS action on drug rebates, November election results and manufacturer communication and action on U.S. list prices by early January.

TODAY'S FREE FLY STORIES

MPW

Medical Properties Trust

$16.10

-0.76 (-4.51%)

06:57
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NSANY

Nissan

$0.00

(0.00%)

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Periodicals
Ghosn's push to boost U.S. sales created tension with Nissan execs, WSJ reports »

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  • 07

    Jan

NVAX

Novavax

$2.27

-0.15 (-6.20%)

06:57
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Initiation
Novavax initiated  »

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SBRA

Sabra Health Care

$18.01

-0.71 (-3.79%)

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SHOP

Shopify

$129.45

-10.68 (-7.62%)

06:56
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Initiation
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LFC

China Life Insurance

$10.39

-0.17 (-1.61%)

06:55
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China Life Insurance rating change  »

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RDS.A

Royal Dutch Shell

$57.72

-0.515 (-0.88%)

06:55
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12/18
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06:55
Initiation
Royal Dutch Shell initiated  »

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RCII

Rent-A-Center

$14.45

-0.03 (-0.21%)

06:55
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Hot Stocks
Breaking Hot Stocks news story on Rent-A-Center »

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SNDR

Schneider National

$19.12

-0.015 (-0.08%)

06:54
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06:54
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BP

BP

$38.41

-0.25 (-0.65%)

06:53
12/18/18
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06:53
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06:53
Initiation
BP initiated  »

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QCOM

Qualcomm

$56.99

-0.63 (-1.09%)

, AAPL

Apple

$164.05

-1.43 (-0.86%)

06:52
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12/18
06:52
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06:52
Periodicals
Qualcomm believes Apple is still violating Chinese court order, Reuters reports »

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QCOM

Qualcomm

$56.99

-0.63 (-1.09%)

AAPL

Apple

$164.05

-1.43 (-0.86%)

03/08/13
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APHB

AmpliPhi

$0.16

-0.0264 (-14.13%)

06:52
12/18/18
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06:52
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06:52
Hot Stocks
AmpliPhi announces scales up manufacturing process for AB-SA01 »

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DEI

Douglas Emmett

$34.06

-1.39 (-3.92%)

06:52
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NSC

Norfolk Southern

$147.63

-3.18 (-2.11%)

06:52
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LLY

Eli Lilly

$108.36

-3.59 (-3.21%)

06:51
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Hot Stocks
Eli Lilly announces subgroup data from MONARCH 2, MONARCH 3 trials published »

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  • 19

    Dec

LXFR

Luxfer

$21.42

-1.26 (-5.56%)

06:50
12/18/18
12/18
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Conference/Events
Luxfer to host conference call »

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  • 18

    Dec

ELY

Callaway Golf

$15.53

-1.11 (-6.67%)

06:50
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KSU

Kansas City Southern

$95.83

-0.86 (-0.89%)

06:48
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PGTI

PGT Innovations

$16.18

-0.23 (-1.40%)

06:45
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CI

Cigna

$198.63

-6.71 (-3.27%)

, INFO

IHS Markit

$48.56

-0.27 (-0.55%)

06:45
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Recommendations
Cigna, IHS Markit, Humana analyst commentary  »

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CI

Cigna

$198.63

-6.71 (-3.27%)

INFO

IHS Markit

$48.56

-0.27 (-0.55%)

HUM

Humana

$303.84

3.43 (1.14%)

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  • 04

    Jan

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  • 15

    Jan

PM

Philip Morris

$81.39

-1.15 (-1.39%)

, BTI

British American Tobacco

$32.73

-0.36 (-1.09%)

06:42
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06:42
Downgrade
Philip Morris, British American Tobacco, Imperial Brands rating change  »

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PM

Philip Morris

$81.39

-1.15 (-1.39%)

BTI

British American Tobacco

$32.73

-0.36 (-1.09%)

IMBBY

Imperial Brands

$0.00

(0.00%)

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  • 15

    Jan

  • 16

    Jan

  • 17

    Jan

CTRP

Ctrip

$27.31

-0.86 (-3.05%)

06:42
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Ctrip CEO says U.S. trade dispute impacted tourism, FT reports »

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  • 19

    Dec

NAV

Navistar

$23.84

-1.93 (-7.49%)

06:37
12/18/18
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06:37
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Earnings
Navistar sees FY19 revenue $10.75B-$11.25B, consensus $10.57B »

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  • 18

    Dec

GD

General Dynamics

$163.43

-5.47 (-3.24%)

06:36
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12/18
06:36
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06:36
Periodicals
General Dynamics warns Canada over scrapping Saudi deal, Reuters reports »

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  • 19

    Dec

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