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MYL

Mylan

$32.61

-1.98 (-5.72%)

08:27
10/12/18
10/12
08:27
10/12/18
08:27

Merck returning Lantus biosimilar rights negative for Mylan, says Wells Fargo

Wells Fargo analyst David Maris sees a negative read-through for Mylan regarding yesterday's news of Merck Sharp & Dohme Research returning the rights to biosimilar Lantus to Samsung Bioepis. While some view this as a positive, as there will likely be one fewer competitor in the market if Mylan-Biocon make it to the U.S. market, that is a "simplistic and optimistic" take, Maris tells investors in a research note. The more important factor to consider is the "why" Merck dropped out, rather than the number of competitors, the analyst writes. He believes Merck returned the rights to Samsung Bioepis due to the deteriorating pricing environment and pricing outlook for insulin and Lantus biosimilars. Lilly's and Sanofi's manufacturing capacity, along with aggressive discounting, has created a "severe pricing environment," Maris contends. He believes that if Samsung Bioepis and Merck can't make the economics work, than one should be skeptical of Mylan and Biocon having substantial success. Maris has a Market Perform rating on Mylan shares.

  • 19

    Oct

  • 13

    Nov

MYL Mylan
$32.61

-1.98 (-5.72%)

10/05/18
10/05/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Mylan (MYL) downgraded to Neutral from Buy at Mizuho with analyst Irina Koffler saying the analyst initially believed Mylan's pipeline of complex generics and biosimilars would represent a "sustainable source of growth" relative to generic peers, but her view changed after more due diligence and competitor checks. 2. Eastman Chemical (EMN) downgraded to Neutral from Overweight at JPMorgan with analyst Jeffrey Zekauskas saying he believes raw material trends will probably pressure the company's year-ahead results. 3. CommScope (COMM) downgraded to Neutral from Buy at Nomura Instinet with analyst Jeffrey Kvaal saying the analyst continues to view CommScope as a long-term beneficiary of both mobile and fiber spending growth. 4. HP Inc. (HPQ) downgraded to Neutral from Overweight at JPMorgan with analyst Paul Coster saying despite the company's "excellent execution," the shares have limited catalysts ahead. 5. PepsiCo (PEP) downgraded to Neutral from Outperform at Macquarie with analyst Caroline Levy saying Pepsi reported solid Q3 organic sales growth of 5%, but EBIT margins fell do to increased brand spending, higher input costs abroad due to FX hikes, and higher freight. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/09/18
MSCO
10/09/18
DOWNGRADE
MSCO
Equal Weight
Mylan downgraded to Equal Weight from Overweight at Morgan Stanley
10/09/18
10/09/18
DOWNGRADE
Target $36

Equal Weight
Morgan Stanley downgrades Mylan to Equal Weight on generic, Epipen uncertainty
As previously reported, Morgan Stanley analyst David Risinger downgraded Mylan to Equal Weight from Overweight, stating that recent generics trends leave him seeing downside risk to consensus forecasts and Mylan's 2018 guidance. He also noted that Epipen earnings will likely gap down in 2019 due to the imminent generic launch by Teva (TEVA) and that Mylan's biosimilars and complex products strategy is facing greater commercial challenges. Risinger, who lowered his 2018-2020 EBITDA CAGR to 4% from 8%, cut his price target on Mylan shares to $36 from $46.
10/09/18
10/09/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Exelon (EXC) downgraded to Neutral from Overweight at JPMorgan and to Neutral from Buy at Citi. 2. CommScope (COMM) downgraded to Neutral from Buy at Goldman Sachs with analyst Mark Delaney saying he views the company's fundamental environment as "mixed" and views the stock's valuation as fair at current levels. 3. Mylan (MYL) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst David Risinger saying recent generics trends leave him seeing downside risk to consensus forecasts and Mylan's 2018 guidance. 4. Blackbaud (BLKB) downgraded to Market Perform from Outperform at Raymond James and JMP Securities as well as to Hold from Buy at Benchmark. 5. Kroger (KR) downgraded to Sell from Hold at Deutsche Bank while Smart & Final Stores (SFS) was downgraded to Hold from Buy. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

FPRX

Five Prime

$14.30

0.05 (0.35%)

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GM

General Motors

$31.19

0.11 (0.35%)

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BCBP

BCB Bancorp

$13.25

0.15 (1.15%)

16:01
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Earnings
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IWM

iShares Trust Russell 2000 Index Fund

$153.34

-1.625 (-1.05%)

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Russell 2000 Index

$0.00

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On The Fly: Weekly technical notes for Russell 2000 »

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IWM

iShares Trust Russell 2000 Index Fund

$153.34

-1.625 (-1.05%)

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Russell 2000 Index

$0.00

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USO

United States Oil Fund

$14.69

0.125 (0.86%)

15:40
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Call buyers in US Oil Fund as crude oil ticks higher »

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MCHP

Microchip

$67.36

-0.18 (-0.27%)

15:35
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10/19
15:35
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Microchip put volume heavy and directionally bearish »

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15:20
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General news
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CLF

Cleveland-Cliffs

$10.92

-0.55 (-4.80%)

15:18
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CLF

Cleveland-Cliffs

$10.86

-0.61 (-5.32%)

15:17
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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

15:17
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Technical Analysis
NASDAQ market internals summary »

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ACRX

AcelRx

$3.77

-0.38 (-9.16%)

15:16
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  • 03

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CLF

Cleveland-Cliffs

$10.89

-0.58 (-5.06%)

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  • 19

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$NYE

NYSE Market Internals

$0.00

(0.00%)

15:16
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Technical Analysis
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SHOP

Shopify

$127.73

-6.91 (-5.13%)

, STMP

Stamps.com

$194.61

-3.18 (-1.61%)

15:08
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OnTheFly
Week in review: How Trump's policies moved stocks »

Catch up on the top…

SHOP

Shopify

$127.73

-6.91 (-5.13%)

STMP

Stamps.com

$194.61

-3.18 (-1.61%)

BLK

BlackRock

$402.46

2.59 (0.65%)

BX

Blackstone

$34.82

-0.45 (-1.28%)

JPM

JPMorgan

$108.18

0.05 (0.05%)

F

Ford

$8.45

-0.055 (-0.65%)

GS

Goldman Sachs

$227.49

2.55 (1.13%)

GOOGL

Alphabet Class A

$1,104.29

7.06 (0.64%)

GOOG

Alphabet

$1,095.63

7.73 (0.71%)

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ET

Energy Transfer LP

$17.01

0.19 (1.13%)

15:04
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HAL

Halliburton

$37.87

-0.12 (-0.32%)

15:00
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10/19
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Options
Active trading in Halliburton ahead of earnings »

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  • 22

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FXI

iShares China Large-Cap ETF

$39.39

0.7 (1.81%)

14:50
10/19/18
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Options
32K iShares Large Cap China Fund Dec 42 - 44 call spreads trade for 40c »

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GEVO

Gevo

$3.61

-0.08 (-2.17%)

, GPRE

Green Plains

$17.97

-0.38 (-2.07%)

14:48
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Periodicals
Marathon weighs sale of high-ethanol gas in Minnesota, Bloomberg says »

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GEVO

Gevo

$3.61

-0.08 (-2.17%)

GPRE

Green Plains

$17.97

-0.38 (-2.07%)

PEIX

Pacific Ethanol

$2.03

-0.12 (-5.58%)

MPC

Marathon Petroleum

$74.24

-4.6 (-5.83%)

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  • 01

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CMCSA

Comcast

$35.94

-0.01 (-0.03%)

, CMCSK

Comcast

$0.00

(0.00%)

14:46
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OnTheFly
Box Office Battle: 'Halloween' opening to add to massive October »

Comcast (CMCSA, CMCSK)…

CMCSA

Comcast

$35.94

-0.01 (-0.03%)

CMCSK

Comcast

$0.00

(0.00%)

SNE

Sony

$55.76

-0.28 (-0.50%)

T

AT&T

$32.84

0.34 (1.05%)

FOX

21st Century Fox

$45.33

-0.13 (-0.29%)

FOXA

21st Century Fox

$45.62

-0.19 (-0.41%)

DIS

Disney

$118.42

2.16 (1.86%)

LGF.A

Lionsgate

$22.17

-0.03 (-0.14%)

LGF.B

Lionsgate

$20.72

-0.06 (-0.29%)

VIA

Viacom

$36.75

-0.48 (-1.29%)

VIAB

Viacom

$33.30

-0.43 (-1.27%)

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FOSL

Fossil

$19.00

-0.13 (-0.68%)

14:40
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10/19
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Options
Far upside call buying in Fossil »

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FB

Facebook

$153.67

-1.28 (-0.83%)

, GOOG

Alphabet

$1,090.00

2.1 (0.19%)

14:33
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#SocialStocks: Snap may be small enough to be acquired, YouTube suffers blackout »

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FB

Facebook

$153.67

-1.28 (-0.83%)

GOOG

Alphabet

$1,090.00

2.1 (0.19%)

GOOGL

Alphabet Class A

$1,098.63

1.4 (0.13%)

TWTR

Twitter

$28.71

-0.58 (-1.98%)

SNAP

Snap

$6.75

-0.06 (-0.88%)

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  • 21

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ABBV

AbbVie

$88.84

-1.1 (-1.22%)

14:22
10/19/18
10/19
14:22
10/19/18
14:22
Recommendations
AbbVie analyst commentary  »

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  • 19

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  • 02

    Nov

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
10/19/18
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Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
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Technical Analysis
NYSE market internals summary »

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MPC

Marathon Petroleum

$74.58

-4.26 (-5.40%)

, PEIX

Pacific Ethanol

$1.98

-0.17 (-7.91%)

14:15
10/19/18
10/19
14:15
10/19/18
14:15
Periodicals
Marathon weighs sale of high-ethanol gas in Minnesota, Bloomberg says »

Companies levered to…

MPC

Marathon Petroleum

$74.58

-4.26 (-5.40%)

PEIX

Pacific Ethanol

$1.98

-0.17 (-7.91%)

GPRE

Green Plains

$17.91

-0.44 (-2.40%)

GEVO

Gevo

$3.61

-0.08 (-2.17%)

03/08/13
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