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ADMS

Adamas Pharmaceuticals

$18.20

0.85 (4.90%)

, AGIO

Agios Pharmaceuticals

$65.89

2.51 (3.96%)

05:18
10/15/18
10/15
05:18
10/15/18
05:18

Piper lists names to own in Biopharma after recent selloff

Piper Jaffray's biopharma analyst team highlighted names to own in the Biopharma sector following the recent selloff of the broader market. The firm's ideas include: Adamas Pharmaceuticals (ADMS), Agios Pharmaceuticals (AGIO), Agios Pharmaceuticals (ALNY), Alexion (ALXN), Bluebird Bio (BLUE), BioMarin (BMRN), CymaBay (CBAY), Crispr Therapeutics (CRSP), Global Blood Therapeutics (GBT), Horizon Pharma (HZNP), Jazz Pharmaceuticals (JAZZ), Ocular Therapeutix (OCUL), Rigel Pharmaceuticals (RIGL) and Xencor (XNCR).

ADMS

Adamas Pharmaceuticals

$18.20

0.85 (4.90%)

AGIO

Agios Pharmaceuticals

$65.89

2.51 (3.96%)

ALNY

Alnylam

$82.00

2.51 (3.16%)

ALXN

Alexion

$121.91

2.62 (2.20%)

BLUE

Bluebird Bio

$125.92

-0.81 (-0.64%)

BMRN

BioMarin

$99.60

2.28 (2.34%)

CBAY

CymaBay

$10.19

0.19 (1.90%)

CRSP

Crispr Therapeutics

$37.74

0.85 (2.30%)

GBT

Global Blood Therapeutics

$33.01

1.46 (4.63%)

HZNP

Horizon Pharma

$18.27

0.23 (1.27%)

JAZZ

Jazz Pharmaceuticals

$158.82

3.42 (2.20%)

OCUL

Ocular Therapeutix

$6.09

-0.02 (-0.33%)

RIGL

Rigel Pharmaceuticals

$3.10

0.005 (0.16%)

XNCR

Xencor

$35.08

1.04 (3.06%)

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ADMS Adamas Pharmaceuticals
$18.20

0.85 (4.90%)

09/17/18
HCWC
09/17/18
NO CHANGE
Target $45
HCWC
Buy
Adamas COO departure unlikely to be disruptive, says H.C. Wainwright
H.C. Wainwright analyst Raghuram Selvaraju believes the departure of Chief Operating Officer Richard King is unlikely to be disruptive for Adamas Pharmaceuticals. The analyst continues to anticipate further traction for Adamas's sole marketed product, Gocovri, in the coming months. He reiterates a Buy rating on the shares with a $45 price target.
10/05/18
BOFA
10/05/18
DOWNGRADE
BOFA
Neutral
Adamas Pharmaceuticals downgraded to Neutral from Buy at BofA/Merrill
09/17/18
MZHO
09/17/18
NO CHANGE
Target $75
MZHO
Buy
Adamas COO departure does not signal red flags, says Mizuho
Mizuho analyst Irina Koffler expects pressure on shares of Adamas Pharmaceuticals (ADMS) from what she sees as two unrelated events: competitor Osmotica filing for an initial public offering and the resignation of COO Richard King for personal reasons. The IPO was already anticipated by investors, and the executive departure doesn't signal any red flags, Koffler tells investors in a research note. She reiterates a Buy rating on Adamas with a $75 price target.
10/05/18
10/05/18
DOWNGRADE
Target $25

Neutral
Adamas Pharmaceuticals downgraded on Gocovri ramp at BofA/Merrill
As previously reported, BofA/Merrill downgraded Adamas Pharmaceuticals to Neutral from Buy and cut its price target to $25 from $38. Analyst Tazeen Ahmad's checks with physicians indicate Gocovri dropouts are occurring, doctors may be looking at other options, and Gocovri's value proposition is not fully appreciated. Ahmad believes Gocovri is differentiated by its time release biology, but said the level of doctors excitement is still in the middle range and is taking longer than previous expectations to become a "go-to drug." The analyst also said the launch of Osmotica Pharmaceuticals' Osmolex ER could impact pick-up and lowered Gocovri's peak sales estimate to $428M from $553M.
AGIO Agios Pharmaceuticals
$65.89

2.51 (3.96%)

08/02/18
PIPR
08/02/18
NO CHANGE
Target $125
PIPR
Overweight
Agios launch of Tibsovo should be as good as Idhifa, says Piper Jaffray
Piper Jaffray analyst Tyler Van Buren says he continues to believe that Agios Pharmaceuticals' (AGIO) launch of Tibsovo will be as good as, if not better, than the early Idhifa launch due to partner Celgene (CELG). Van Buren adds that while he "only" models $250M of U.S. sales in acute myeloid leukemia, the drug in this setting "could conceivably end up being several fold larger." Additionally, Agios management is being "appropriately vague" with the details of the dose-escalation in the ongoing Phase I study for AG-270, investors should be mindful of the fact that a response could be observed any day, which could be "very significant for the stock," Van Buren writes. The analyst keeps an Overweight rating on Agios Pharmaceuticals with a $125 price target.
09/06/18
ADAM
09/06/18
NO CHANGE
Target $90
ADAM
Buy
Agios ending AG-881 collaboration 'both positive and negative,' says Canaccord
While Celgene's (CELG) termination of the AG-881 collaboration may "suggest some lack of enthusiasm," it does give full rights back to Agios (AGIO), said Canaccord analyst John Newman, who believes "it is almost always better for a smaller biotech to have full commercial control of an asset." The analyst also noted that Jacqualyn Fouse is expected to assume the CEO role next February and Newman believes she will help maintain Agios' heading in launching approved products and developing the pipeline. Newman maintains a Buy rating and $90 price target on Agios shares.
09/17/18
GUGG
09/17/18
INITIATION
Target $81
GUGG
Neutral
Agios Pharmaceuticals initiated with a Neutral at Guggenheim
Target $81.
09/24/18
LEER
09/24/18
INITIATION
Target $80
LEER
Market Perform
Agios Pharmaceuticals initiated with a Market Perform at Leerink
Leerink analyst Andrew Berens started Agios Pharmaceuticals with a Market Perform rating and $80 price target.
ALNY Alnylam
$82.00

2.51 (3.16%)

10/08/18
GSCO
10/08/18
NO CHANGE
Target $36
GSCO
Sell
Ionis' Tegsedi to face commercial headwinds, says Goldman Sachs
After the FDA approved Ionis (IONS) and affiliate Akcea Therapeutics' (AKCA) Tegsedi for adult polyneuropathy of hereditary transthyretin-mediated amyloidosis, but with a black box warning, Goldman Sachs analyst Salveen Richter said he believes the drug faces commercial headwinds. He cites the underlying safety profile and requirement for consistent monitoring as well as the recent launch of Alnylam's (ALNY) Onpattro and expected launch of Pfizer's (PFE) tafamidis in the first half of 2019. Richter keeps a Sell rating on Ionis shares with a price target of $36.
10/08/18
CANT
10/08/18
INITIATION
Target $135
CANT
Overweight
Cantor reiterates Overweight on Alnylam after Akcea, Ionis win approval
Cantor Fitzgerald analyst Alethia Young reiterates an Overweight rating on Alnylam Pharmaceuticals (ALNY) with a $135 price target after the FDA approved Tegsedi, to be marketed by Akcea Therapeutics (AKCA). The analyst says that while the approval introduces another competitor to the market, she still expects Alnylam's Onpattroto be able to take significant share in the polyneuropathy hATTR market. Young thinks the Tegsedi label is more onerous and currently models a 60% peak share to Alnylam, a 25% share to Tegsedi and 15% to future competition.
10/07/18
PIPR
10/07/18
NO CHANGE
Target $160
PIPR
Overweight
Alnylam's Onpattro highly efficacious, safer than competitor, says Piper Jaffray
Piper Jaffray analyst Edward Tenthoff notes that Ionis Pharmaceuticals (IONS) announced FDA approval of TEGSEDI for treatment of hATTR polyneuropathy. The analyst also points out that the label includes a Black Box warning for thrombocytopenia and glomerulonephritis requiring every 2-week monitoring, and will be marketed by Ionis subsidiary Akcea (AKCA) with a Risk Evaluation and Mitigation Strategy. TEGSEDI is administered subcutaneously every week versus Alnylam's (ANLY) ONPATTRO intravenously every 3 weeks with steroids, he adds. Tenthoff believes that ONPATTRO appears safer and highly efficacious, and should win out. The analyst reiterates an Overweight rating and $160 price target on Alnylam shares.
10/01/18
CANT
10/01/18
INITIATION
Target $135
CANT
Overweight
Alnylam initiated with an Overweight at Cantor Fitzgerald
Cantor Fitzgerald analyst Alethia Young started Alnylam Pharmaceuticals with an Overweight rating and $135 price target.
ALXN Alexion
$121.91

2.62 (2.20%)

09/27/18
NOMU
09/27/18
NO CHANGE
Target $161
NOMU
Buy
Alexion acquisition bodes well for Argenx, says Nomura Instinet
Nomura Instinet analyst Christopher Marai believes Alexion Pharmaceuticals' (ALXN) acquisition of Syntimmune highlights potential demand for FcRn therapies by acquirers and bodes well for Argenx (ARGX). The analyst keeps a Buy rating on Argenx with a $161 price target.
09/28/18
LEHM
09/28/18
NO CHANGE
Target $175
LEHM
Overweight
Alexion price target raised to $175 from $165 at Barclays
Barclays analyst Geoff Meacham raised his price target for Alexion Pharmaceuticals to $175 saying this week's positive Phase 3 of Soliris data in neuromyelitis optica spectrum disorder "was a positive surprise for many and is the latest in a string of 'wins' for the company." The analyst thinks Alexion remains one of the more compelling names in biotech and he keeps an Overweight rating on the shares.
09/26/18
PIPR
09/26/18
NO CHANGE
PIPR
Overweight
Piper remains buyer of Alexion after 'smart' Syntimmune acquisition
Piper Jaffray analyst Christopher Raymond says he remains a buyer of Alexion Pharmaceuticals shares after the announced acquisition of Syntimmune. The analyst thinks investors will like additional evidence of deal execution from this management team, particularly following the Wilson acquisition earlier this year. He views the deal as "smart" and continues to like the setup for Alexion. Raymond keeps an Overweight rating on the name.
10/10/18
10/10/18
UPGRADE

Strong Buy
RA Pharmaceuticals upgraded to Strong Buy ahead of Phase 2 data at Raymond James
As previously reported, Raymond James upgraded RA Pharmaceuticals (RARX) to Strong Buy from Outperform with a $28 price target. Analyst Steven Seedhouse expects Phase 2 data for lead subcutaneous C5 inhibitor zilucoplan in generalized myasthenia gravis expected around YE18 to demonstrate a treatment benefit in a mixed refractory/non-refractory patient population and be competitive with Alexion's (ALXN) Soliris. Seedhouse believes a positive Phase 2 readout could be worth $1B in market cap at least and could treat a broader population of patients than Soliris given subcutaneous administration and pricing leverage.
BLUE Bluebird Bio
$125.92

-0.81 (-0.64%)

09/21/18
09/21/18
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. Bluebird Bio (BLUE) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Salveen Richter saying rating change is is not driven by concerns around Bluebird's pipeline execution or emerging competitive threats. The analyst just believes appreciation of key aspects of his investment thesis are better reflected in the shares at current valuation levels. 2. Venator Materials (VNTR) downgraded to Neutral from Overweight at JPMorgan with analyst Jeffrey Zekauskas saying he believes lower prices and higher raw material costs for TiO2, coupled with higher capital expenditures, diminishes Venator's free cash flow outlook. 3. Antero Resources (AR) downgraded to Market Perform from Outperform at BMO Capital with analyst Phillip Jungwirth citing valuation. 4. New Age Beverages (NBEV) downgraded to Hold from Buy at Maxim. 5. Rowan Companies (RDC) downgraded to Hold from Buy at HSBC. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/17/18
GUGG
09/17/18
INITIATION
Target $164
GUGG
Neutral
Bluebird Bio initiated with a Neutral at Guggenheim
Target $164.
09/21/18
GSCO
09/21/18
DOWNGRADE
Target $288
GSCO
Buy
Bluebird Bio downgraded to Buy from Conviction Buy at Goldman Sachs
Goldman Sachs analyst Salveen Richter removed Bluebird Bio from his firm's Americas Conviction List but keeps a Buy rating on the name with a $288 price target. The rating change is is not driven by concerns around Bluebird's pipeline execution or emerging competitive threats, Richter tells investors in a research note. The analyst just believes appreciation of key aspects of his investment thesis are better reflected in the shares at current valuation levels.
09/11/18
WELS
09/11/18
NO CHANGE
WELS
Amgen's AMG420 risk overstated, says Wells Fargo
Wells Fargo analyst Jim Birchenough believes shares of Bluebird Bio (BLUE) have been under pressure on concerns regarding potential competitive risk to BCMA CAR T therapeutic bb2121 from Amgen's (AMGN) bispecific T cell engager AMG420. The analyst highlights that AMGN420 is a continuous IV infusion and in his opinion not a viable competitor to a single bb2121 cell therapy dose, particularly given long-term durability of response with bb2121. Further, he notes that Amgen's approved first generation CD19 bispecific engager, BLINCYTO, is dosed as a continuous IV for 4 weeks out of every 6 and achieved only $175M in sales in 2017 following 2015 approval. He does not view this dose schedule for first generation bispecific T cell engagers as commercially viable in a more chronic cancer. Additionally, the analyst points out that Affimed (AFMD) also has a preclinical BCMA engager AFM26, established proof-of-concept data for CD30 bispecific AFM13, and upcoming proof-of-concept data for CD19 bispecific AFM11.
BMRN BioMarin
$99.60

2.28 (2.34%)

08/08/18
RHCO
08/08/18
NO CHANGE
Target $61
RHCO
Buy
Spark Therapeutics price target lowered to $61 from $102 at SunTrust
SunTrust analyst Edward Nash lowered his price target on Spark Therapeutics (ONCE) to $61, saying the company's SPK-8011 update has dimmed the outlook for its hemA program. Nash notes that while the FVIII activity reached the 30% threshold set by his physician consultants, it is below that of BioMarin (BMRN) BMN-270, adding the immune risk cannot be eliminated from the treatment. The analyst keeps his Buy rating on Spark Therapeutics, citing expectations of a gradual uptake of its Luxturna in 2018 with modeled commercial opportunity of $322M. Nash adds that Luxturna's commercial success should deepen the company's understanding of hemophilia and help differentiate its products from competitors.
10/01/18
CANT
10/01/18
INITIATION
Target $126
CANT
Overweight
BioMarin initiated with an Overweight at Cantor Fitzgerald
Cantor Fitzgerald analyst Alethia Young started BioMarin with an Overweight rating and $126 price target.
09/06/18
PIPR
09/06/18
NO CHANGE
Target $120
PIPR
Overweight
Piper 'incrementally positive' on BioMarin after Valrox filing plans
Piper Jaffray analyst Christopher Raymond is "incrementally positive" on BioMarin shares after the company disclosed at a conference today that it plans to file for accelerated approval of Valrox, the company's hemophilia gene therapy, in the second half of 2019. The analyst notes this is a full year earlier than he currently models. Pulling Valrox forward by one year adds approximately $10 per share to the stock, Raymond tells investors in a research note. He keeps an Overweight rating on BioMarin with a $120 price target. The stock in early trading is up 2c to $96.62.
08/08/18
MZHO
08/08/18
NO CHANGE
Target $77
MZHO
Buy
Spark Therapeutics price target lowered to $77 from $91 at Mizuho
Mizuho analyst Difei Yang lowered her price target for Spark Therapeutics (ONCE) to $77 after the company provided an update on the SPK-8011 program for hemophilia A. While the latest data appears "somewhat mixed" with two out of the seven patients not maintaining Factor VIII level of at least 12%, Spark offered a reasonable explanation and proposal to address the issue in the upcoming Phase III trial that is scheduled to begin in Q4, Yang tells investors in a research note. The analyst finds it premature to draw the conclusion that SPK-8011 is inferior to the competing product from BioMarin (BMRN). Yang removed a takeover premium for Spark in her new price target but keeps a Buy rating on the shares.
CBAY CymaBay
$10.19

0.19 (1.90%)

06/28/18
RAJA
06/28/18
INITIATION
Target $20
RAJA
Outperform
CymaBay initiated with an Outperform at Raymond James
Raymond James analyst Steven Seedhouse initiated CymaBay with an Outperform and $20 price target.
04/16/18
ROTH
04/16/18
NO CHANGE
Target $27
ROTH
Buy
CymaBay seladelpar a 'clear winner' from EASL, says Roth Capital
Roth Capital analyst Yasmeen Rahimi notes that Novartis (NVS) reported disappointing 28-day interim results from its FXR agonist in 49 PBC patients at EASL. Tropifexor had AP level drops far below CymaBay's (CBAY) seldelpar at 4 weeks, she points out, adding that she believes seladelpar is a "clear winner" from Paris. Rahimi reiterates a Buy rating and $27 price target on CymaBay's shares.
06/06/18
HCWC
06/06/18
NO CHANGE
Target $23
HCWC
Buy
CymaBay price target raised to $23 from $21 at H.C. Wainwright
H.C. Wainwright analyst Ed Arce raised his price target for CymaBay Therapeutics to $23 saying the company is well positioned to successfully execute its strategy with seladelpar. The analyst reiterates a Buy rating on the shares.
08/09/18
PIPR
08/09/18
NO CHANGE
Target $30
PIPR
Overweight
CymaBay price target raised to $30 from $16 at Piper Jaffray
Piper Jaffray analyst Tyler Van Buren raised his price target on CymaBay to $30 and kept his Overweight rating, saying he expects the company's cinical progress and additional updates in PBC and NASH to drive its share price higher over the next 12-18 months. The analyst expects the PBC phase 2 data on seladelpar expected in Q4 to be "confirmartory", de-risking the subsequent phase 3 trial. He adds that the phase 2b proof of concept NASH study will hopefully show "clinically meaningful effects based on the preclinical data and differentiated mechanism of action".
CRSP Crispr Therapeutics
$37.74

0.85 (2.30%)

09/21/18
RAJA
09/21/18
INITIATION
RAJA
Underperform
Crispr initiated with an Underperform on tough data comps at Raymond James
Raymond James analyst Steven Seedhouse initiated Crispr Therapeutics (CRSP) with an Underperform saying the company has the toughest data comps in lead indications among CRISPR/Cas9 pure plays and is getting too much value for its CAR-T programs. The analyst thinks it will be difficult for Crispr's CTX001 in hemoglobinopathies to match bluebird's (BLUE) LentiGlobin-like levels of hemoglobin increase, resulting in early clinical data that may disappoint or appear uncompetitive.
10/10/18
WELS
10/10/18
INITIATION
Target $65
WELS
Outperform
Crispr Therapeutics initiated with an Outperform at Wells Fargo
Wells Fargo analyst Jim Birchenough started Crispr Therapeutics with an Outperform rating and $65 price target. The analyst cited the company's "highly leverageable" gene editing platform, "substantially de-risked" lead program in ex-vivo gene editing for beta thalassemia and sickle cell disease, a broad pipeline of both ex vivo and in vivo gene-editing opportunities, and strong collaborations balancing wholly owned programs to optimize future value creation.
10/09/18
GUGG
10/09/18
INITIATION
GUGG
Neutral
Crispr Therapeutics assumed with a Neutral at Guggenheim
Guggenheim analyst Whitney Ijem assumed coverage of Crispr Therapeutics with a Neutral rating, saying the potential of Crispr's "highly innovative platform and diversified approach" is already reflected at current levels.
10/10/18
10/10/18
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. Take-Two (TTWO) initiated with an Outperform at Bernstein. 2. Shake Shack (SHAK) initiated with a Hold at Stifel. 3. Nu Skin (NUS) initiated with a Buy at DA Davidson. 4. Micron (MU) initiated with a Neutral at Piper Jaffray. 5. Crispr Therapeutics (CRSP) initiated with an Outperform at Wells Fargo. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
GBT Global Blood Therapeutics
$33.01

1.46 (4.63%)

08/23/18
PIPR
08/23/18
NO CHANGE
Target $80
PIPR
Overweight
Global Blood expands sickle cell disease portfolio, says Piper Jaffray
Global Blood Therapeutics announced this morning plans to in-license inclacumab, a fully human anti-P-selectin monoclonal antibody for the treatment of vaso-occlusive crises related to sickle cell disease, Piper Jaffray analyst Danielle Brill tells investors in a research note. Based on inclacumab's profile, the analyst expects it to demonstrate "robust efficacy and safety" for the prevention of vaso-occlusive crisis. The analyst keeps an Overweight rating on Global Blood with an $80 price target.
09/14/18
WBLR
09/14/18
NO CHANGE
WBLR
Outperform
William Blair sees 'high likelihood' of agreement between FDA, Global Blood
William Blair analyst Raju Prasad attributes the selloff yesterday in shares of Global Blood Therapeutics to a STAT report that discussed the risks associated with the company's regulatory strategy for voxelotor based on the novel hemoglobin endpoint. While the analyst agrees that there is some inherent risk to the company's approach, he also believes there is a "high likelihood" that Global Blood and the FDA will reach an agreement on a new drug application composition for an accelerated approval pathway. As such, Prasad believes the shares hold a positive risk/reward profile ahead of the company's regulatory strategy update and data presentation expected by the end of the year. He keeps an Outperform rating on Global Blood Therapeutics.
09/14/18
NOMU
09/14/18
NO CHANGE
Target $109
NOMU
Buy
Global Blood shares have 'significant upside' into end of 2018, says Nomura
After attending the Annual Sickle Cell Disease Therapeutics Conference, hosted by Global Blood Therapeutics, Nomura Instinet analyst Christopher Marai has a strengthened view that a voxelotor new drug application submission will occur by the end of 2018. Further, the company will likely receive accelerated approval based on data to date, Marai tells investors in a research note. The analyst recommends buying shares of Global Blood and believes the recent pullback is "unfounded" on the back of key takeaways from the SCD conference. He sees "significant upside" for the shares into a year-end NDA submission. Marai keeps a Buy rating on Global Blood Therapeutics with a $109 price target.
09/13/18
HCWC
09/13/18
NO CHANGE
Target $125
HCWC
Buy
H.C. Wainwright remains buyer of Global Blood Therapeutics on today's selloff
H.C. Wainwright analyst Debjit Chattopadhyay views the selloff today in shares of Global Blood Therapeutics as a buying opportunity. The analyst highlights "key mechanistic differences "between senicapoc and sildenafil, which he notes are often highlighted to further the bear argument of potentially increased risk of vaso-occlusive crisis with Global Blood's potential sickle cell disease treatment voxelotor. Unlike both senicapoc and sildenafil, 12-weeks treatment with voxelotor has translated into numerically fewer VOC events in Phase 2, Chattopadhyay tells investors in a research note titled "It's Deja Vu All Over Again." The analyst thinks Sarepta Therapeutics' (SRPT) Exnodys 51 approval "saga could serve as a good reference for voxelotor." While admitting he's not privy to the ongoing discussions between the FDA and Global Blood, Chattopadhyay continues to believe the agency is likely to embrace alternative endpoints over VOC as key secondary endpoints to the proposed confirmatory study for voxelotor. He continues to expect a potential rolling new drug application submission during mid-2019, with one-year safety data to be included as data matures. The analyst keeps a Buy rating on Global Blood Therapeutics with a $125 price target. The stock in late morning trading is down 9.5%, or $4.38, to $41.58 after STAT's Adam Feuerstein wrote the company's FDA filing plan "is riskier than you think."
HZNP Horizon Pharma
$18.27

0.23 (1.27%)

09/24/18
PIPR
09/24/18
NO CHANGE
Target $25
PIPR
Overweight
Piper reiterates Overweight rating on Horizon Pharma after expert call
After hosting a call featuring an expert focused on thyroid eye disease, also known as Graves' orbitopathy, Piper Jaffray analyst David Amsellem reiterates an Overweight rating on Horizon Pharma with a $25 price target. The analyst says commentary from the expert heightened his confidence that Horizon's teprotumumab "will emerge as a paradigm-shifting option" in the broader thyroid eye disease treatment landscape. The expert views teprotumumab not only as a means of avoiding surgical intervention but also as a potential option in less severe patients who are not necessarily headed for surgery, Amsellem tells investors in a research note. He believes Horizon remains well positioned for long-term annual EBITDA growth "that is solidly in the double-digits."
10/04/18
GSCO
10/04/18
NO CHANGE
Target $26
GSCO
Buy
Horizon Pharma teprotumumab data 'highly encouraging,' says Goldman Sachs
After Horizon Pharma announced 72-week durability data for its phase 2 trial of teprotumumab in treatment of thyroid eye disease, or TED, Goldman Sachs analyst Dana Flanders called the data "highly encouraging" and supportive of the drug being competitive to, and potentially better than, the current medical standard of care. The analyst, who forecasts risk-adjusted sales of greater than $200M by 2025 for teprotumumab, said those estimates are likely still conservative. Flanders reiterates a Buy rating on Horizon shares with a $26 price target.
10/05/18
JMPS
10/05/18
NO CHANGE
Target $22
JMPS
Outperform
Horizon's teprotumumab data 'a game-changer,' says JMP Securities
JMP Securities analyst Donald Ellis called Horizon Pharma's long-term, 72-week data on teprotumumab "a game-changer" that he believes will position the drug as a first-line therapy for treating thyroid eye disease, or TED. Ellis, who foresees a potential filing for teprotumumab in mid-2019 and potential approval in early 2020, keeps an Outperform rating and $22 price target on Horizon Pharma shares.
08/10/18
MZHO
08/10/18
NO CHANGE
Target $25
MZHO
Buy
Horizon Pharma price target raised to $25 from $18 at Mizuho
Mizuho analyst Irina Koffler raised her price target for Horizon Pharma to $25 to reflect higher estimates for the company's pipeline drug, Teprotumumab, and reduced commercial execution risk. The analyst reiterates a Buy rating on the shares following Horizon's Q2 results.
JAZZ Jazz Pharmaceuticals
$158.82

3.42 (2.20%)

09/19/18
LEER
09/19/18
NO CHANGE
LEER
Outperform
Leerink 'incrementally positive on state of generics industry following meetings
Leerink analyst Ami Fadia tells investors in a research note that she is "incrementally positive" on the state of the generics industry following investor meetings with the management teams from Outperform-rated Amneal (AMRX), Pfenex and Teligent. Fadia says a key takeaway from the teams is that the FDA is placing additional emphasis on reviewing and approving complex generics, and while there is starting to be more first-to-market approvals, there are also more approvals for the second and third generic entrants. Additionally, Fadia says the complex generic opportunity will likely be characterized by a slower-than-typical launch ramp, but also extended duration of meaningful financial contribution due to less overall competitors vs that for oral-solid generics and that while companies still regard biosimilar assets as attractive, the low penetration for biosimilar Remicade in the U.S., Mylan's (MYL) slow start with Fulphila and extended litigation timelines mean management teams looking to participate in this space are taking a more prudent approach and minimizing their upfront investment.
09/18/18
BMOC
09/18/18
NO CHANGE
Target $206
BMOC
Outperform
Jazz Pharmaceuticals launch of Vyxeos in EU may produce upside, say BMO Capital
BMO Capital analyst Gary Nachman kept his Outperform rating and $206 price target on Jazz Pharmaceuticals after its webcast today to discuss the recent approval of Vyxeos for acute myeloid leukemia in Europe. The analyst notes that the regulatory action could be a "source of upside" given that the size of high-risk AML market in the region is the same as that of the U.S. Nachman expects Vyxeos to remain a "key long-term growth driver" for the company.
08/17/18
LEER
08/17/18
NO CHANGE
Target $210
LEER
Outperform
Jazz Pharmaceuticals price target raised to $210 from $200 at Leerink
Leerink analyst Ami Fadia raised Jazz Pharmaceuticals for solriamfetol based on results from the firm's MEDACorp physician survey on the Excessive Sleepiness market. Fadia continues to see solriamfetol as a key growth asset in the outer years when Xyrem faces competition. The analyst rates Jazz an Outperform and increased its price target to $210 from $200.
08/15/18
WELS
08/15/18
NO CHANGE
Target $195
WELS
Outperform
Jazz Pharmaceuticals price target raised to $195 from $182 at Wells Fargo
Wells Fargo analyst David Maris raised his price target for Jazz Pharmaceuticals to $195 from $182 as he believes it continues to execute well on the commercial side and on its pipeline-driven strategy. The analyst likes the conservative balance sheet, the current sales trends, and the focus on pipeline progress. He reiterates an Outperform rating on the shares.
OCUL Ocular Therapeutix
$6.09

-0.02 (-0.33%)

09/06/18
PIPR
09/06/18
INITIATION
Target $14
PIPR
Overweight
Ocular Therapeutix initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Joseph Catanzaro initiated Ocular Therapeutix with an Overweight rating and $14 price target, stating that he is confident that the issues raised in Dextenza's CRLs have been addressed well enough to warrant an FDA approval before the end of 2018. He believes Dextenza U.S. sales in the post-surgical setting can rise to $250M by 2025.
01/19/18
BTIG
01/19/18
UPGRADE
BTIG
Buy
Ocular Therapeutix upgraded to Buy from Neutral at BTIG
01/19/18
BTIG
01/19/18
UPGRADE
Target $9
BTIG
Buy
Ocular Therapeutix upgraded to Buy from Neutral at BTIG
As reported earlier, BTIG analyst Dane Leone upgraded Ocular Therapeutix to Buy from Neutral with a price target of $9. Leone cites the new management's reset of expectation for a resubmission of the Dextenza NDA for post-surgical cataract patients for the first half of this year, which sets a "reasonable 6-month review table" to have approval by year-end. The analyst models Dextenza generating about $16M in sales in 2019 and rising to $116M by 2022.
03/08/18
CANT
03/08/18
NO CHANGE
Target $22
CANT
Overweight
Cantor Fitzgerald says Ocular Therapeutix set up for 'momentous' 2018
Following Ocular Therapeutix's Q4 report and call, during which the company reiterated its guidance to resubmit its application for DEXTENZA in the first half of 2018 and said it continues to anticipate the readout of its Phase 3 OTX-TP study in glaucoma in the fourth quarter, Cantor Fitzgerald analyst Elemer Piros said he expects a "momentous" year for the company. He keeps an Overweight rating on Ocular and raised his price target on the stock to $22 from $21.
RIGL Rigel Pharmaceuticals
$3.10

0.005 (0.16%)

10/04/18
PIPR
10/04/18
NO CHANGE
Target $8
PIPR
Overweight
Rigel Pharma Analyst Day saw 85% tavalisse refill rate, says Piper Jaffray
Piper Jaffray analyst Christopher Raymond kept his Overweight rating and $8 price target on Righer Pharmaceuticals after the company's Analyst Day. He says the presentation indicated utilization of Tavalisse across all lines and a 85% refill rate, suggesting that the drug had higher demand than anticipated. Raymond contends that the launch so far has been successful while also pointing to the company's "positive progress for fostamatinib in AIHA and other pipeline products".
08/27/18
08/27/18
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. Rigel Pharmaceuticals (RIGL) initiated with a Buy at Citi. 2. Sonos (SONO) initiated with a Buy at Goldman Sachs, an Outperform at RBC Capital, an Equal Weight at Morgan Stanley, as well as a Hold at Stifel and Jefferies. 3. Cushman & Wakefield (CWK) initiated with an Overweight at Barclays, JPMorgan, and Morgan Stanley, an Outperform at William Blair, JMP Securities, and Credit Suisse, a Buy at Goldman Sachs and BofA/Merrill, as well as a Neutral at Citi. 4. Talos Energy (TALO) initiated with an Overweight at Capital One. 5. VirTra (VTSI) initiated with a Buy at Lake Street. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/04/18
PIPR
10/04/18
NO CHANGE
Target $8
PIPR
Overweight
Rigel update shows Tavalisse launch above estimates, says Piper Jaffray
Piper Jaffray analyst Christopher Raymond keeps an Overweight rating on Rigel Pharmaceuticals following this morning's disclosure providing an update on the Tavalisse launch. Rigel indicated that Tavalisse shipment volume for Q3 was 649 bottles, which translates to close to $5M in revenue for the quarter. This is well ahead of the Q3 consensus estimate of $2.3M, Raymond tells investors in a research note. The analyst continues to like the setup for Rigel and keeps an $8 price target on the shares. The stock in early trading is up 4c to $3.25.
09/04/18
JPMS
09/04/18
NO CHANGE
Target $7
JPMS
Overweight
Rigel Pharmaceuticals price target raised to $7 from $6 at JPMorgan
JPMorgan analyst Anupam Rama raised his price target for Rigel Pharmaceuticals to $7 and reiterates an Overweight rating on the shares. The Tavalisse launch in chronic immune thrombocytopenia, progress on the follow-on indication of autoimmune hemolytic anemia, and potential outside the U.S. partnership progress should drive upside near- and long-term, Rama tells investors in a research note.
XNCR Xencor
$35.08

1.04 (3.06%)

08/08/18
ADAM
08/08/18
NO CHANGE
Target $45
ADAM
Buy
Xencor price target raised to $45 from $38 at Canaccord
Canaccord analyst Arlinda Lee raised her price target on Xencor to $45 from $38 noting the clinical data for the company's first bi-specific, XmAb, is on track for 2018. She said there are four other bi-specifics that are complete, giving it a pipeline that is very attractive. Lee reiterated her Buy rating on Xencor shares.
08/07/18
PIPR
08/07/18
NO CHANGE
Target $52
PIPR
Overweight
Xencor price target raised to $52 from $46 at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff raised his price target for Xencor to $52 following the company's Q2 results. The company remains a top pick for its bispecific antibody and cytokine pipeline to treat cancer, Tenthoff tells investors in a research note. He notes Xencor has $555M of cash and reiterates an Overweight rating on the shares.
06/07/18
06/07/18
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. Xencor (XNCR) initiated with a Buy at BTIG. 2. Donnelley Financial Solutions (DFIN) initiated with a Buy at DA Davidson. 3. Axsome Therapeutics (AXSM) initiated with a Buy at H.C. Wainwright. 4. ShotSpotter (SSTI) initiated with an Outperform at JMP Securities. 5. WellCare (WCG) initiated with a Buy at Argus. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/10/18
BTIG
09/10/18
INITIATION
Target $56
BTIG
Buy
Xencor assumed with a Buy at BTIG
BTIG analyst Thomas Shrader assumed Xencor with a Buy rating and a price target of $56, saying the company offers "multiple proprietary techniques" and a "compelling internal pipeline". The analyst further notes that two of its "high quality" partnerships may soon pay royalties, adding that he is positive on Xencor's "XmAb5871 developed in IgG4-related disease and lupus mostly for dosing flexibility". Shrader contends that while the stock is "not cheap", its track and growth prospects are sound.

TODAY'S FREE FLY STORIES

UA

Under Armour

$18.17

0.35 (1.96%)

, UAA

Under Armour

$20.09

0.39 (1.98%)

06:55
10/22/19
10/22
06:55
10/22/19
06:55
Hot Stocks
Breaking Hot Stocks news story on Under Armour, Under Armour »

Under Armour appoints COO…

UA

Under Armour

$18.17

0.35 (1.96%)

UAA

Under Armour

$20.09

0.39 (1.98%)

03/08/13
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PG

Procter & Gamble

$119.04

1.55 (1.32%)

06:55
10/22/19
10/22
06:55
10/22/19
06:55
Hot Stocks
Breaking Hot Stocks news story on Procter & Gamble »

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PG

Procter & Gamble

$119.04

1.55 (1.32%)

06:55
10/22/19
10/22
06:55
10/22/19
06:55
Earnings
Procter & Gamble reports Q1 core EPS $1.37, consensus $1.24 »

Reports Q1 revenue…

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HOG

Harley-Davidson

$37.14

0.555 (1.52%)

06:54
10/22/19
10/22
06:54
10/22/19
06:54
Hot Stocks
Harley-Davidson reports Q3 retail motorcycle sales down 1.2% to 58,522 units »

U.S.Harley-Davidson…

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TRU

TransUnion

$82.55

1.055 (1.29%)

06:54
10/22/19
10/22
06:54
10/22/19
06:54
Earnings
TransUnion sees FY19 adjusted EPS $2.74-$2.76, consensus $2.69 »

Sees FY19…

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BIIB

Biogen

$223.57

3.52 (1.60%)

06:54
10/22/19
10/22
06:54
10/22/19
06:54
Hot Stocks
Biogen reports Q3 MS revenues up 2% to $2.348B »

Multiple sclerosis…

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HOG

Harley-Davidson

$37.14

0.555 (1.52%)

06:53
10/22/19
10/22
06:53
10/22/19
06:53
Earnings
Harley-Davidson reports Q3 adjusted EPS 70c, consensus 52c »

Reports Q3 revenue…

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  • 22

    Oct

DGX

Quest Diagnostics

$102.21

-0.465 (-0.45%)

06:53
10/22/19
10/22
06:53
10/22/19
06:53
Earnings
Quest Diagnostics narrows FY19 adj. EPS view to $6.45-$6.50 from over $6.40 »

Consensus $6.50. Narrows…

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BIIB

Biogen

$223.57

3.52 (1.60%)

06:52
10/22/19
10/22
06:52
10/22/19
06:52
Earnings
Biogen reports Q3 adjusted EPS $9.17, consensus $8.27 »

Reports Q3 revenue $3.6B,…

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  • 22

    Oct

TRU

TransUnion

$82.55

1.055 (1.29%)

06:51
10/22/19
10/22
06:51
10/22/19
06:51
Earnings
TransUnion reports Q3 adjusted EPS 76c, consensus 71c »

Reports Q3 revenue $689M,…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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    Nov

POL

PolyOne

$31.67

-0.065 (-0.20%)

06:50
10/22/19
10/22
06:50
10/22/19
06:50
Earnings
PolyOne reports Q3 adj. EPS 44c, consensus 43c »

Reports Q3 revenue…

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DGX

Quest Diagnostics

$102.21

-0.465 (-0.45%)

06:50
10/22/19
10/22
06:50
10/22/19
06:50
Earnings
Quest Diagnostics reports Q3 adj. EPS $1.76, consensus $1.71 »

Reports Q3 revenue…

03/08/13
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    Dec

HAS

Hasbro

$120.11

-1.78 (-1.46%)

06:49
10/22/19
10/22
06:49
10/22/19
06:49
Hot Stocks
Hasbro to suspend share repurchase program »

At quarter-end, $367.8M…

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MTG

MGIC Investment

$13.74

0.22 (1.63%)

06:48
10/22/19
10/22
06:48
10/22/19
06:48
Earnings
MGIC Investment reports Q3 adj. EPS 48c, consensus 42c »

Reports Q3 revenue…

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  • 22

    Oct

CIT

CIT Group

$45.65

1.36 (3.07%)

06:47
10/22/19
10/22
06:47
10/22/19
06:47
Earnings
CIT Group reports Q3 EPS $1.50, consensus $1.21 »

Reports Q3 revenue $454M,…

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  • 22

    Oct

GPK

Graphic Packaging

$14.86

0.205 (1.40%)

06:44
10/22/19
10/22
06:44
10/22/19
06:44
Earnings
Graphic Packaging reports Q3 EPS 20c, consensus 19c »

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BIIB

Biogen

$223.57

3.52 (1.60%)

06:44
10/22/19
10/22
06:44
10/22/19
06:44
Hot Stocks
Biogen soars 20% on plans to pursue Alzheimer's approval after FDA talks »

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  • 22

    Oct

HLX

Helix Energy

$8.32

0.31 (3.87%)

06:43
10/22/19
10/22
06:43
10/22/19
06:43
Earnings
Helix Energy narrows FY19 revenue view to $730M-$760M from $700M-$760M »

Consensus is $749.91M.…

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PNTG

The Pennant Group

$18.37

0.19 (1.05%)

06:43
10/22/19
10/22
06:43
10/22/19
06:43
Initiation
The Pennant Group initiated  »

The Pennant Group…

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PEBO

Peoples Bancorp

$32.28

0.57 (1.80%)

06:42
10/22/19
10/22
06:42
10/22/19
06:42
Earnings
Peoples Bancorp reports Q3 EPS 72c, consensus 70c »

Reports Q3 book value per…

03/08/13
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    Oct

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    Dec

ACRS

Aclaris Therapeutics

$1.40

-0.205 (-12.77%)

06:41
10/22/19
10/22
06:41
10/22/19
06:41
Upgrade
Aclaris Therapeutics rating change  »

Aclaris Therapeutics…

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  • 28

    Oct

FITB

Fifth Third

$28.04

0.71 (2.60%)

06:40
10/22/19
10/22
06:40
10/22/19
06:40
Hot Stocks
Fifth Third sees Q4 NII down about 1% from Q3, NIM down 4-5bps »

Sees FY19 NII up about…

03/08/13
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  • 22

    Oct

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    Oct

ARCH

Arch Coal

$78.98

-0.1 (-0.13%)

06:39
10/22/19
10/22
06:39
10/22/19
06:39
Hot Stocks
Arch Coal backs FY19 total sales volume view 86.7- 92.1 tons »

"We are confident in…

03/08/13
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03/06/13
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03/06/13
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  • 22

    Oct

HAS

Hasbro

$120.11

-1.78 (-1.46%)

06:39
10/22/19
10/22
06:39
10/22/19
06:39
Hot Stocks
Hasbro CEO says 'on track to deliver profitable revenue growth in 2019' »

"Hasbro remains on…

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03/08/13
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03/06/13
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03/06/13
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  • 22

    Oct

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    Oct

CVNA

Carvana

$77.23

3.42 (4.63%)

06:39
10/22/19
10/22
06:39
10/22/19
06:39
Recommendations
Carvana analyst commentary  »

Carvana sold 15,239…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 06

    Nov

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