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DPLO

Diplomat Pharmacy

$19.15

-1.295 (-6.34%)

, GILD

Gilead

$75.63

0.12 (0.16%)

06:51
09/25/18
09/25
06:51
09/25/18
06:51

Diplomat Pharmacy weakness on Gilead generics overdone, says JPMorgan

JPMorgan analyst Lisa Gill says the weakness yesterday in shares of Diplomat Pharmacy (DPLO) following Gilead's (GILD) announcement that it will be launching new authorized generic versions of hepatitis C treatments Epclusa and Harvoni is a "significant overreaction." Hepatitis C represents a relatively small portion of revenue for Diplomat Pharmacy, and as such, these two drugs are not material, Gill tells investors in a research note. Further, the analyst believes it is unclear whether payors will adopt the authorized generic in lieu of continuing to receive rebates on the branded drugs. In addition, Gill thinks Diplomat should be able to purchase the new authorized generics at a discount to the new list price with a higher gross margin spread relative to the brand. The analyst keeps an Overweight rating on the shares.

DPLO

Diplomat Pharmacy

$19.15

-1.295 (-6.34%)

GILD

Gilead

$75.63

0.12 (0.16%)

  • 03

    Oct

DPLO Diplomat Pharmacy
$19.15

-1.295 (-6.34%)

08/09/18
JPMS
08/09/18
NO CHANGE
Target $27
JPMS
Overweight
Diplomat Pharmacy selloff creates good entry point, says JPMorgan
After hosting investor meetings with management, JPMorgan analyst Lisa Gill says the recent pullback in shares of Diplomat Pharmacy provides a good entry point. The meetings were positive with management highlighting the growth opportunities in both the specialty and pharmacy benefit management businesses, Gill tells investors in a research note. Further, she viewed the company's commentary as favorable around the potential impact of President Trump's drug price blueprint. The analyst reiterates an Overweight rating on Diplomat Pharmacy with a $27 price target.
07/23/18
WBLR
07/23/18
NO CHANGE
WBLR
Outperform
Diplomat Pharmacy recent selloff overdone, says William Blair
William Blair analyst John Kreger attributes the 20% pullback in shares of Diplomat Pharmacy from the June highs to growing concerns about the company's exposure to pharmaceutical rebates, which the Trump administration is seeking to regulate as part of a broader effort to lower drug prices for consumers. The analyst views the recent selloff as overdone. The vast majority of Diplomat's newly acquired pharmacy benefit management business is with commercial clients, rather than from Medicaid or Medicare Part D, Kreger tells investors in a research note. As such, any new regulations out of the Trump administration would presumably not affect PBM dealings with commercial clients, at least not directly, the analyst adds. Further, the analyst notes that rebates are just one of three broad ways in which PBMs are compensated by their clients. The other two are administrative per-claim fees and spread pricing on dispensed prescriptions. If rebates become less popular, the economics of the business could quickly shift to other payment mechanisms such as higher per-claim fees, Kreger contends. He does not view regulation of drug rebates as a long-term threat to the economics of the PBM business model for Diplomat or its larger peers. The analyst keeps an Outperform rating on Diplomat Pharmacy.
06/28/18
JPMS
06/28/18
NO CHANGE
JPMS
Amazon deal creates significant overhang on Rx channel sentiment, says JPMorgan
JPMorgan Analyst Lisa Gill said Amazon's (AMZN) agreement to acquire PillPack is expected to drive a "significant overhang" on sentiment across the prescription channel, even though she doesn't expect PillPack to capture a material share of the market in the near term. While the deal establishes an initial foothold for Amazon in the mail pharmacy space, she thinks it will take time to scale up and she does not believe PillPack's unit dose packaging technology is unique. Gill also noted that Express Scripts (ESRX) said it would remove PillPack from its pharmacy network in 2016 on allegations it had misrepresented itself as a retail pharmacy and not a mail pharmacy, though within weeks PillPack was added back by the PBM. Shares of retail pharmacy operators CVS Health (CVS), Walgreens (WBA) and Rite Aid (RAD) have all been pressured by the news of Amazon's deal, as have the shares of drug distributors AmerisourceBergen (ABC), Cardinal Health (CAH) and McKesson (MCK). Diplomat Pharmacy (DPLO), an operator of a specialty pharmacy, is also sharply lower following the announcement from Amazon.
06/22/18
LEER
06/22/18
NO CHANGE
Target $33
LEER
Outperform
Diplomat Pharmacy price target raised to $33 from $27 at Leerink
Leerink analyst David Larsen raised his price target for Diplomat Pharmacy to $33 after hosting investor meetings with management. The analyst believes demand for Diplomat's pharmacy benefits manager CastiaRx is accelerating relative to previous years. Further, he thinks earnings potential from biosimilars, over the long run, may be greater than what he had been expecting. In addition, Larsen is "positively surprised" that the senior leadership team does not view President Trump's Blueprint plan as a significant risk. The analyst reiterates an Outperform rating on Diplomat Pharmacy.
GILD Gilead
$75.63

0.12 (0.16%)

09/13/18
JPMS
09/13/18
INITIATION
Target $140
JPMS
Overweight
Galapagos NV initiated with an Overweight at JPMorgan
JPMorgan analyst James Quigley started Galapagos NV (GLPG) with an Overweight rating and $140 price target. The company's key value driver is filgotinib, a selective JAK1 inhibitor which has shown potential best in class data in inflammatory diseases and is licensed to Gilead (GILD), Quigley tells investors in a research note. The analyst forecasts peak in market filgotinib sales of EUR 4.4B. Quigley also sees value in Galapagos' wholly owned GLPG1690, which he says could be the first drug to halt disease progression in idiopathic pulmonary fibrosis.
09/12/18
NOMU
09/12/18
NO CHANGE
Target $124
NOMU
Buy
Galapagos data meets expectations 'and then some,' says Nomura Instinet
Nomura Instinet analyst Christopher Marai says Galapagos NV (GLPG) and Gilead's (GILD) positive top-line results from the Finch-2 study evaluating filgotinib in moderate-to-severe rheumatoid arthritis patients met his expectations "and then some." The anlayst keeps a Buy rating on Galapagos with a $124 price target.
09/12/18
PIPR
09/12/18
NO CHANGE
Target $85
PIPR
Overweight
Gilead's filgotinib data look in-line with expectations, says Piper Jaffray
Piper Jaffray analyst Tyler Van Buren says Gilead's topline Phase III filgotinib data in biologic-inadequate patients appear in-line with expectations. The analyst believes the Phase III Finch 1 in MTX-inadequate responders and Finch 3 in MTX-naive patients readouts in the first half of 2019 are now "highly likely" o be successful. Further, it appears that filgotinib will have a competitive clinical profile as response and remission rates were in-line or towards the top end of the range when compared to the class at the 12 week endpoint and safety was clean, Van Buren tells investors in a research note. However, the analyst does not believe that the data were enough to clearly separate filgotinib from the competing agents in the class. As such, believes his current sales estimates which approach $1.5B by the mid-2020s are reasonable. The analyst keeps an Overweight rating on Gilead with an $85 price target.
08/22/18
JEFF
08/22/18
NO CHANGE
Target $4.29
JEFF
Buy
Sierra Oncology acquisition brings late-stage asset, says Jefferies
Jefferies analyst Maury Raycroft says that while Sierra Oncology's acquisition of momelotinib came as a surprise at first, about half of the company's management has experience with the drug stemming back to Cytopia. The move is opportunistic and provides an active drug that was too small for Gilead (GILD) and "potentially just right" for Sierra, Raycroft tells investors in a research note. The late-stage drug comes with valuable historical dataset that Sierra can potentially leverage and the deal terms are favorable, the analyst contends. He keeps a Buy rating on Sierra Oncology with a $4.29 price target.

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WIN

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$3.37

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AMGN

Amgen

$188.31

1.6 (0.86%)

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WIN

Windstream

$3.37

0.2 (6.31%)

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$20.00

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MDLZ

Mondelez

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S&P 500

$0.00

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ORCL

Oracle

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SBLK

Star Bulk Carriers

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Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.