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LGND

Ligand

$253.55

-1.17 (-0.46%)

, VKTX

Viking Therapeutics

$10.40

-0.18 (-1.70%)

09:36
09/18/18
09/18
09:36
09/18/18
09:36

Ligand rises after Viking's study of VK2809 hits primary goal

Shares of Ligand Pharmaceuticals (LGND) are higher in early trading after Viking Therapeutics (VKTX) announced top-line results from a Phase 2 study of VK2809, its novel liver-selective thyroid receptor beta agonist, in patients with non-alcoholic fatty liver disease, or NAFLD, and elevated low-density lipoprotein cholesterol, or LDL-C. The study successfully achieved its primary endpoint, with patients receiving VK2809 demonstrating statistically significant reductions in LDL-C compared with placebo, Viking said. In May of 2014, the companies announced that Ligand licensed the rights to five programs to Viking. The drug candidates and programs covered by the license agreement included VK0612, VK5211, VK0214, a portfolio of orally available small molecule EPOR agonists for the potential treatment of anemia and a portfolio of orally available small molecule inhibitors of the enzyme DGAT-1 for the potential treatment of lipid disorders such as obesity and dyslipidemia. Also as part of that transaction, Ligand agreed to extend a $2.5M convertible loan facility to Viking that can be used to pay Viking's operating and financing-related expenses. In early trading, shares of Viking Therapeutics have more than doubled to $21.57. Meanwhile, Ligand is up 6% to $268.62 per share.

LGND

Ligand

$253.55

-1.17 (-0.46%)

VKTX

Viking Therapeutics

$10.40

-0.18 (-1.70%)

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    Nov

LGND Ligand
$253.55

-1.17 (-0.46%)

09/11/18
ARGS
09/11/18
NO CHANGE
Target $300
ARGS
Buy
Ligand price target raised to $300 from $260 at Argus
Argus analyst Jasper Hellweg raised his price target on Ligand Pharmaceuticals to $300 and kept his Buy rating, saying that valuation is more in line with the Price/Earnings to Growth industry average ratio of 1.7-times. The analyst notes that the company is "on track" to post solid earnings growth over the period of the next several years thanks to its primary products of Promacta for clotting and Kyprolis for melanoma. Hellweg adds that Ligand also offers a "strong pipeline of new products" having partnered with over 100 pharmaceutical and biotech companies, with over 170 programs under license or in clinical development at this time. The analyst further points to the company's "clean" balance sheet and a "promising" technical pattern of its stock price.
08/17/18
08/17/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Dare Bioscience (DARE) initiated with a Buy at Maxim. 2. WillScot (WSC) initiated with an Outperform at Credit Suisse. 3. Ligand (LGND) initiated with a Neutral at Goldman Sachs. 4. Cott Corp. (COT) initiated with an Action List Buy at TD Securities. 5. Azure Power (AZRE) initiated with a Buy at Janney Montgomery Scott. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/17/18
GSCO
08/17/18
INITIATION
Target $256
GSCO
Neutral
Ligand initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Dana Flanders initiated Ligand with a Neutral and $256 price target telling investors valuation reflects positive drivers and upcoming pipeline catalysts and additional M&A will be needed to support valuation.
08/10/18
HCWC
08/10/18
NO CHANGE
Target $257
HCWC
Buy
Ligand price target raised to $257 from $248.75 at H.C. Wainwright
H.C. Wainwright analyst Joseph Pantginis raised his price target for Ligand Pharmaceuticals to $257 after the company announced the acquisition of Vernalis for $43M. The transaction brings in over eight fully-funded partnered programs at various stages of development, ranging from approved to pre-clinical, as well as an established library and unpartnered programs in various disease areas, Pantginis tells investors in a research note. He reiterates a Buy rating on Ligand.
VKTX Viking Therapeutics
$10.40

-0.18 (-1.70%)

07/20/18
07/20/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. BOFA CUTS YUM CHINA TO UNDERPERFORM: BofA Merrill Lynch analyst Chen Luo downgraded Yum China (YUMC) to Underperform from Neutral and cut its price target to $34 from $44.30. Luo said he expects Yum China to continue to underperform given a likely peak in KFC trends amid China's weakening macro environment, a likely prolonged turnaround at Pizza Hut combined with heavy costs, a slowdown in Chinese consumer consumption, and RMB depreciation. Yum China is down 4.8% in late morning trading. CREDIT SUISSE CUTS FIVE BELOW TO NEUTRAL: Credit Suisse analyst Judah Frommer downgraded Five Below (FIVE) to Neutral from Outperform, telling investors that he is moving to the sidelines as he sees risk/reward balanced at current levels given the stock's material outperformance and back-half comp acceleration that he believes is priced into shares. Frommer keeps his $110 price target and says Five Below remains one of the most differentiated concepts in retail. Five Below is down 4.4% in late morning trading. BAIRD MORE CAUTIOUS ON DRUG SUPPLY CHAIN: Baird analyst Eric Coldwell downgraded Express Scripts (ESRX), AmerisourceBergen (ABC), and McKesson (MCK), all to Neutral from Outperform, citing the heavy political attack in recent weeks against pharmacy benefit managers and members of the drug supply chain. Among them, he said AmerisourceBergen remains his preferred name, but he cannot justify putting new money to work in these names in the current environment. SUNTRUST STARTS VIKING WITH A BUY: SunTrust analyst Edward Nash initiated Viking Therapeutics (VKTX) with a Buy rating and a price target of $14, saying its VK2809 drug for lipid disorders "has the potential to become a promising treatment by addressing multiple metabolic issues" associated with the non-alcoholic steatohepatitis disease, or NASH. Viking is up 8.3% in late morning trading. JPMORGAN SAYS BUY GM, SELL TESLA INTO EARNINGS: JPMorgan analyst Ryan Brinkman forecast lower than consensus Q2 earnings for Ford (F) and higher than consensus earnings for General Motors (GM). The analyst is also concerned about the potential for a "large loss and accompanying large cash outflow" at Tesla (TSLA) in Q2 to "make the bridge" to GAAP profitability and positive cash generation in the second half of the year. Brinkman maintained Overweight ratings on GM and Ford, with a preference for GM shares. He also kept his cautious Underweight rating on Tesla shares, seeing 44% downside to his $180 December 2018 price target.
07/20/18
07/20/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. OneMain Holdings (OMF) reinstated with an Equal Weight at Barclays. 2. Viking Therapeutics (VKTX) initiated with a Buy at SunTrust. 3. Semtech (SMTC) initiated with a Buy at Stifel. 4. Axon (AAXN) initiated with a Buy at Needham. 5. Sonoma Pharmaceuticals (SNOA) assumed with a Speculative Buy at Benchmark. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/20/18
RHCO
07/20/18
INITIATION
Target $14
RHCO
Buy
Viking Therapeutics initiated with a Buy at SunTrust
SunTrust analyst Edward Nash initiated Viking Therapeutics with a Buy rating and a price target of $14, saying its VK2809 drug for lipid disorders "has the potential to become a promising treatment by addressing multiple metabolic issues" associated with the non- alcoholic steatohepatitis disease, or NASH. The analyst adds that VK2809 demonstrated a significant reduction in multiple lipid parameters in phase 1b trials, and also notes that the stock is trading at a significant discount relative to other companies targeting NASH.
06/28/18
RAJA
06/28/18
INITIATION
Target $15
RAJA
Outperform
Viking Therapeutics initiated with an Outperform at Raymond James
Raymond James analyst Steven Seedhouse initiated Viking Therapeutics with an Outperform and $15 price target.

TODAY'S FREE FLY STORIES

SPY

SPDR S&P 500 ETF Trust

$273.44

-1.58 (-0.57%)

, SPX

S&P 500

$0.00

(0.00%)

21:11
10/23/18
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21:11
Periodicals
Trump escalates attacks on FOMC head Powell, WSJ reports »

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SPDR S&P 500 ETF Trust

$273.44

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SPX

S&P 500

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CAG

Conagra Brands

$36.41

0.17 (0.47%)

21:06
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Initiation
Conagra Brands initiated at Goldman Sachs »

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YUM

Yum! Brands

$88.81

-0.52 (-0.58%)

20:41
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20:41
Downgrade
Yum! Brands rating change at Stifel »

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WING

Wingstop

$69.62

-0.48 (-0.68%)

20:38
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20:38
Downgrade
Wingstop rating change at Stifel »

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BJRI

BJ's Restaurants

$65.49

-1.4 (-2.09%)

20:35
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20:35
Downgrade
BJ's Restaurants rating change at Stifel »

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AMSSY

AMS AG

$0.00

(0.00%)

20:34
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20:34
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AMS AG rating change at JPMorgan »

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F

Ford

$8.60

0.185 (2.20%)

20:25
10/23/18
10/23
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20:25
Hot Stocks
Ford names Anning Chen the new head of China business »

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T

AT&T

$33.03

0.37 (1.13%)

, BA

Boeing

$349.74

-6.24 (-1.75%)

20:25
10/23/18
10/23
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Earnings
Notable companies reporting before tomorrow's open »

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T

AT&T

$33.03

0.37 (1.13%)

BA

Boeing

$349.74

-6.24 (-1.75%)

UPS

UPS

$114.22

-1.38 (-1.19%)

TMO

Thermo Fisher

$223.46

-2.29 (-1.01%)

GD

General Dynamics

$187.80

-2.26 (-1.19%)

NOC

Northrop Grumman

$304.17

-2.6 (-0.85%)

BSX

Boston Scientific

$36.03

-0.6 (-1.64%)

NSC

Norfolk Southern

$156.94

-7 (-4.27%)

ITW

Illinois Tool Works

$126.51

-0.89 (-0.70%)

SIRI

Sirius XM

$5.96

-0.06 (-1.00%)

HLT

Hilton

$68.89

-1.28 (-1.82%)

FCX

Freeport McMoRan

$11.61

-0.395 (-3.29%)

QSR

Restaurant Brands

$56.80

0.15 (0.26%)

NDAQ

Nasdaq

$81.73

0.72 (0.89%)

IVZ

Invesco

$21.18

0.06 (0.28%)

OC

Owens Corning

$47.46

-1.26 (-2.59%)

NYCB

New York Community Bancorp

$9.41

0.03 (0.32%)

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NDLS

Noodles & Company

$12.70

0.11 (0.87%)

20:12
10/23/18
10/23
20:12
10/23/18
20:12
Conference/Events
Noodles & Company participates in a conference call with Jefferies »

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LIQT

LiqTech

$1.31

-0.01 (-0.76%)

20:02
10/23/18
10/23
20:02
10/23/18
20:02
Conference/Events
LiqTech to host conference call »

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19:45
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General news
Breaking General news story  »

Kansas City Federal…

FBMS

First Bancshares

$35.68

-0.53 (-1.46%)

19:36
10/23/18
10/23
19:36
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19:36
Earnings
First Bancshares reports Q3 adjusted EPS 62c, consensus 60c »

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PTI

Proteostasis

$7.39

0.22 (3.07%)

19:30
10/23/18
10/23
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19:30
Syndicate
Proteostasis 11M share Secondary priced at $6.75 »

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  • 24

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NCOM

National Commerce

$37.80

0.38 (1.02%)

19:19
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Earnings
National Commerce reports Q3 EPS 59c, consensus 63c »

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ON

ON Semiconductor

$16.09

0.21 (1.32%)

19:14
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Hot Stocks
ON Semiconductor announces CE certification for Sigfox RF solution »

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LPT

Liberty Property

$41.51

1.285 (3.19%)

, CMCSA

Comcast

$35.63

-0.12 (-0.34%)

19:10
10/23/18
10/23
19:10
10/23/18
19:10
Recommendations
Liberty Property, Comcast analyst commentary at MUFG »

Liberty Property price…

LPT

Liberty Property

$41.51

1.285 (3.19%)

CMCSA

Comcast

$35.63

-0.12 (-0.34%)

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MANH

Manhattan Associates

$47.61

-0.36 (-0.75%)

, RRC

Range Resources

$16.46

-0.24 (-1.44%)

18:55
10/23/18
10/23
18:55
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18:55
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS:…

MANH

Manhattan Associates

$47.61

-0.36 (-0.75%)

RRC

Range Resources

$16.46

-0.24 (-1.44%)

TER

Teradyne

$32.20

-0.09 (-0.28%)

TSS

TSYS

$92.62

-0.85 (-0.91%)

NAVI

Navient

$12.40

-0.13 (-1.04%)

COF

Capital One

$87.12

-1.5 (-1.69%)

JNPR

Juniper

$27.37

-1.11 (-3.90%)

RHI

Robert Half

$64.01

0.63 (0.99%)

CMTA

Clementia Pharmaceuticals

$10.00

0.41 (4.28%)

APC

Anadarko

$61.84

-2.1 (-3.28%)

COG

Cabot Oil & Gas

$22.72

-0.44 (-1.90%)

AKRX

Akorn

$6.47

-0.12 (-1.82%)

IIVI

II-VI

$38.01

-0.44 (-1.14%)

NDLS

Noodles & Company

$12.70

0.11 (0.87%)

MKSI

MKS Instruments

$73.35

-1.13 (-1.52%)

IRBT

iRobot

$91.69

0.91 (1.00%)

CSL

Carlisle

$102.37

-0.64 (-0.62%)

TXN

Texas Instruments

$100.25

0.51 (0.51%)

EW

Edwards Lifesciences

$148.31

-1.175 (-0.79%)

AI

Arlington Asset Investment

$8.34

-0.07 (-0.83%)

UMBF

UMB Financial

$62.37

-1.32 (-2.07%)

FCF

First Commonwealth

$14.66

0.245 (1.70%)

VAR

Varian Medical

$104.27

-0.24 (-0.23%)

QEP

QEP Resources

$9.74

-0.52 (-5.07%)

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    Oct

  • 01

    Nov

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    Nov

  • 25

    Oct

BLK

BlackRock

$387.58

-4.76 (-1.21%)

, ISNPY

Intesa Sanpaolo

$0.00

(0.00%)

18:51
10/23/18
10/23
18:51
10/23/18
18:51
Periodicals
BlackRock cools on buying Intesa asset management unit stake, Bloomberg says »

BlackRock's (BLK)…

BLK

BlackRock

$387.58

-4.76 (-1.21%)

ISNPY

Intesa Sanpaolo

$0.00

(0.00%)

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  • 26

    Oct

PAAS

Pan American Silver

$15.09

-0.19 (-1.24%)

18:50
10/23/18
10/23
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18:50
Hot Stocks
Pan American Silver announces major discovery at La Colorada in Mexico »

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  • 07

    Nov

PFE

Pfizer

$44.09

-0.28 (-0.63%)

, LLY

Eli Lilly

$110.41

-1.66 (-1.48%)

18:42
10/23/18
10/23
18:42
10/23/18
18:42
Hot Stocks
Pfizer, Eli Lilly: Phase 3 study of tanezumab met all three co-primary endpoints »

Pfizer (PFE) and Eli…

PFE

Pfizer

$44.09

-0.28 (-0.63%)

LLY

Eli Lilly

$110.41

-1.66 (-1.48%)

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  • 30

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    Nov

EXPI

eXp World Holdings

$12.11

-0.39 (-3.12%)

18:31
10/23/18
10/23
18:31
10/23/18
18:31
Hot Stocks
eXp World Holdings signs LOI to acquire VirBELA, terms not disclosed »

eXp World Holdings, the…

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  • 06

    Nov

IIVI

II-VI

$38.01

-0.44 (-1.14%)

18:26
10/23/18
10/23
18:26
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18:26
Initiation
II-VI initiated at DA Davidson »

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  • 01

    Nov

XOM

Exxon Mobil

$79.83

-1.32 (-1.63%)

, CVX

Chevron

$113.41

-3.82 (-3.26%)

18:22
10/23/18
10/23
18:22
10/23/18
18:22
Periodicals
Endeavor Energy explores possible sale of company, WSJ reports »

Endeavor Energy Resources…

XOM

Exxon Mobil

$79.83

-1.32 (-1.63%)

CVX

Chevron

$113.41

-3.82 (-3.26%)

BP

BP

$42.30

-0.855 (-1.98%)

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  • 02

    Nov

VMI

Valmont

$127.55

-1.68 (-1.30%)

18:09
10/23/18
10/23
18:09
10/23/18
18:09
Hot Stocks
Breaking Hot Stocks news story on Valmont »

Valmont lowers FY18 free…

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  • 24

    Oct

VMI

Valmont

$127.55

-1.68 (-1.30%)

18:08
10/23/18
10/23
18:08
10/23/18
18:08
Earnings
Valmont lowers FY18 EPS view to $7.50-$7.65 from $7.55-$7.65, consensus $7.58 »

Sees FY18 revenue…

03/08/13
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  • 24

    Oct

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