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GKOS

Glaukos

$44.79

-0.64 (-1.41%)

, NVS

Novartis

$83.78

-0.29 (-0.34%)

08:33
08/29/18
08/29
08:33
08/29/18
08:33

Glaukos price target raised to $57 at Stephens after Novartis withdraws CyPass

Stephens analyst Chris Cooley raised his price target on Glaukos (GKOS) shares to $57 from $50 after Novartis' (NVS) Alcon unit withdrew the CyPass micro-stent from the market due to safety concerns. He estimates $40M-$50M in annual sales are now "in play" and see Glaukos as the most likely beneficiary, Cooley tells investors. He maintains an Overweight rating on Glaukos shares, which are up $17.35, or 39%, to $62.15 in pre-market trading.

GKOS

Glaukos

$44.79

-0.64 (-1.41%)

NVS

Novartis

$83.78

-0.29 (-0.34%)

  • 05

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  • 12

    Sep

GKOS Glaukos
$44.79

-0.64 (-1.41%)

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.
08/29/18
PIPR
08/29/18
NO CHANGE
Target $55
PIPR
Overweight
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.
NVS Novartis
$83.78

-0.29 (-0.34%)

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

PINS

Pinterest

$24.46

(0.00%)

13:04
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HUM

Humana

$240.65

7.645 (3.28%)

, CI

Cigna

$148.95

3.46 (2.38%)

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Health insurers stocks now look like a buy, Barron's says »

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Humana

$240.65

7.645 (3.28%)

CI

Cigna

$148.95

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ANTM

Anthem

$239.63

3.38 (1.43%)

UNH

UnitedHealth

$221.74

4.93 (2.27%)

CVS

CVS Health

$52.62

0.08 (0.15%)

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TSLA

Tesla

$273.25

2.13 (0.79%)

12:49
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AMD

AMD

$27.68

0.18 (0.65%)

, INTC

Intel

$58.49

-0.08 (-0.14%)

12:43
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Periodicals
Wall Street cheered Intel decision to exit 5G modem business, Barron's says »

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AMD

AMD

$27.68

0.18 (0.65%)

INTC

Intel

$58.49

-0.08 (-0.14%)

QCOM

Qualcomm

$79.89

0.8 (1.01%)

AAPL

Apple

$203.83

0.69 (0.34%)

03/08/13
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SAM

Boston Beer

$266.90

0.89 (0.33%)

12:37
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Periodicals
'Happy hour' might be over for Boston Beer, Barron's says »

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SPOT

Spotify

$139.53

1.88 (1.37%)

12:30
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Periodicals
Spotify stock 'risky' as music industry not changing fast enough, Barron's says »

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BA

Boeing

$380.02

2.48 (0.66%)

, HRL

Hormel Foods

$40.38

-0.37 (-0.91%)

08:33
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On The Fly
Week in review: How Trump's policies moved stocks »

Catch up on the top…

BA

Boeing

$380.02

2.48 (0.66%)

HRL

Hormel Foods

$40.38

-0.37 (-0.91%)

PPC

Pilgrim's Pride

$25.79

0.03 (0.12%)

SAFM

Sanderson Farms

$141.70

-2.17 (-1.51%)

TSN

Tyson Foods

$73.49

0.2 (0.27%)

CCL

Carnival

$53.64

-0.92 (-1.69%)

RCL

Royal Caribbean

$121.00

-2.245 (-1.82%)

NCLH

Norwegian Cruise Line

$56.93

-0.925 (-1.60%)

WFTBF

West Fraser Timber

$0.00

(0.00%)

IFSPF

Interfor

$0.00

(0.00%)

CFPZF

Canfor

$0.00

(0.00%)

03/08/13
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03/06/13
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    Nov

MSM

MSC Industrial

$83.37

-0.44 (-0.52%)

04:55
04/20/19
04/20
04:55
04/20/19
04:55
Conference/Events
MSC Industrial management to meet with William Blair »

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03/08/13
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KFS

Kingsway Financial

$2.30

-0.14 (-5.74%)

19:48
04/19/19
04/19
19:48
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19:48
Hot Stocks
Kingsway Financial announces receipt of notification letter from NYSE »

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AWK

American Water

$104.63

2.32 (2.27%)

19:46
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Hot Stocks
American Water signs contract to acquire East Pasadena Water Company »

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FSNN

Fusion

$0.24

0.0048 (2.01%)

19:45
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Fusion sees being delisted following receipt of Nasdaq delisting notice »

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  • 28

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PSA

Public Storage

$217.43

0.81 (0.37%)

19:42
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Public Storage announces change of Chief Legal Officer »

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V

Visa

$160.14

-0.33 (-0.21%)

19:40
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Visa board elects Visa CEO Al Kelly as Chair »

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NAVB

Navidea

$0.17

0.0001 (0.06%)

19:39
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Hot Stocks
Navidea announces one-for-twenty reverse stock split »

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TISA

Top Image Systems

$0.84

-0.0069 (-0.81%)

19:37
04/19/19
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Hot Stocks
Top Image sees voluntarily delisting to be complete before Nasdaq deadline »

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FCPT

Four Corners Property Trust

$28.17

0.49 (1.77%)

19:33
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Hot Stocks
Four Corners Property Trust acquires restaurant properties for $2.6M »

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  • 24

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PRK

Park National

$93.98

-2.72 (-2.81%)

19:32
04/19/19
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Earnings
Park National reports Q1 EPS $1.62, two estimates $1.61 »

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  • 22

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STNE

StoneCo

$26.50

-8.25 (-23.74%)

19:29
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StoneCo says latest incentive offers from competitors don't change strategy »

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  • 11

    Jun

GPIC

Gaming Partners

$13.09

(0.00%)

19:24
04/19/19
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Hot Stocks
Gaming Partners sees acquisition by Angel closing on May 1 »

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SCHW

Charles Schwab

$45.57

-0.53 (-1.15%)

17:04
04/19/19
04/19
17:04
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17:04
Conference/Events
Charles Schwab to hold a webcast »

Management holds a 2019…

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12:45
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04/19
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General news
Breaking General news story  »

Week of 4/19 Baker-Hughes…

MMNFF

MedMen

$0.00

(0.00%)

11:13
04/19/19
04/19
11:13
04/19/19
11:13
Hot Stocks
MedMen announces resignations of COO and General Counsel »

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TKC

Turkcell

$5.49

-0.175 (-3.09%)

11:08
04/19/19
04/19
11:08
04/19/19
11:08
Hot Stocks
Turkcell sees conclusion of $4.2B lawsuit against MTN this year »

The following statement…

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FCCY

1st Constitution Bancorp

$18.07

-0.14 (-0.77%)

11:05
04/19/19
04/19
11:05
04/19/19
11:05
Earnings
1st Constitution Bancorp reports Q1 EPS 39c, two estimates 36c »

Robert Mangano, President…

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QUMU

Qumu

$2.83

-0.035 (-1.22%)

11:03
04/19/19
04/19
11:03
04/19/19
11:03
Hot Stocks
Qumu announces death of director Thomas Madison »

Qumu Corporation…

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