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ABBV

AbbVie

$84.27

-3.74 (-4.25%)

18:04
10/22/18
10/22
18:04
10/22/18
18:04

AbbVie reports 'positive' data from Phase 2b/3 study of upadacitinib

AbbVie announced positive results from U-ACHIEVE, an ongoing Phase 2b/3 dose-ranging study evaluating upadacitinib, an investigational JAK1-selective inhibitor, for induction and maintenance therapy in adult patients with moderately to severely active ulcerative colitis. After 8 weeks, upadacitinib (15/30/45 mg, once daily) met the primary endpoint of clinical remission and all ranked secondary endpoints. These clinical data, in addition to patient-reported outcomes data from the study, are being presented at United European Gastroenterology Week 2018 in Vienna, Austria. Upadacitinib is not approved by regulatory authorities and its safety and efficacy have not been established. The study showed that significantly more patients achieved clinical remission with upadacitinib (14/14/20 percent of patients in the 15/30/45 mg groups) compared to placebo (0 percent) at week 8.1 Additionally, key secondary endpoints were also achieved at week 8 across the upadacitinib 15/30/45 mg groups, including endoscopic improvement, clinical remission and clinical response. The upadacitinib 7.5 mg group did not meet the primary endpoint. These results are being presented October 22 during an oral presentation entitled "Efficacy and safety of upadacitinib as an induction therapy for patients with moderately to severely active ulcerative colitis: data from the phase 2b study U-ACHIEVE" from 2:12 - 2:24 p.m. CEST.

  • 02

    Nov

ABBV AbbVie
$84.27

-3.74 (-4.25%)

10/22/18
RHCO
10/22/18
NO CHANGE
Target $135
RHCO
Buy
AbbVie price target lowered to $135 from $157 at SunTrust
SunTrust analyst John Boris lowered his price target on AbbVie to $135 after his discussions with its management about the challenges coming from "Humira biosimilar discounts" in the E.U. The analyst notes that he is also lowering his FY19 revenue forecasts to $33.9B from $34.5B to reflect his updated lower HCV global market model and lower Mavyret sales from lower volumes. Boris also keeps his Buy rating on AbbVie longer term, citing potential benefits from the Imbruvica/Venclexta uptake/label expansion and any incremental M&A under incoming CFO Rob Michael.
10/19/18
FBCO
10/19/18
NO CHANGE
Target $85
FBCO
Underperform
AbbVie's 'surprise' CFO change raises more questions, says Credit Suisse
After AbbVie announced this morning that CFO Bill Chase will retire in mid-2019 and be replaced by the current Controller Robert Michael, Credit Suisse analyst Vamil Divan said he was "surprised" by the news for several reasons. He does not recall recent commentary from the company suggesting a CFO transition was in the works; he does not believe the Street had been expecting a CFO transition; the change is clearly happening at a sensitive time, given the launch of biosimilar versions of Humira in Europe this week and increasing questions around the mid-to-long term growth outlook for Humira in the U.S.; and this news was disclosed in an 8-K with no accompanying press release, Divan noted. While comments reinforcing the company's views on its longer-term outlook are "not required" in this case, they would have made Divan feel more comfortable that this was a well-planned transition, he added. The analyst keeps an Underperform rating and $85 price target on AbbVie shares, which are down 1% to $88.88.
10/02/18
PIPR
10/02/18
NO CHANGE
Target $100
PIPR
Neutral
AbbVie scripts for Humira relatively weak in Q3, says Piper Jaffray
Piper Jaffray analyst Christopher Raymond says new survey data from dermatologists and gastroenterologists indicate AbbVie's (ABBV) Humira is losing share faster in psoriasis and inflammatory bowel disease than in rheumatoid arthritis. In that management has called out psoriasis as a key driver of growth, the survey feedback may help explain Humira's relatively weak script trends for Q3, Raymond tells investors in a research note. The analyst believes dermatologists are embracing newer biologics such as Johnson & Johnson's (JNJ) Tremfya while gastroenterologists favor Takeda's Entyvio and increasingly Pfizer's (PFE) Xeljanz. Raymond remains cautious on shares of AbbVie ahead of European biosimilar erosion he expects to start this month. He keeps a Neutral rating on the stock with a $100 price target.
09/19/18
MSCO
09/19/18
NO CHANGE
MSCO
Equal Weight
Morgan Stanley says AbbVie market cap fell more than largest drug settlement
After AbbVie (ABBV) slid about 3% yesterday following a California Insurance Commissioner lawsuit alleging Humira kickbacks, Morgan Stanley analyst David Risinger noted its $4B loss in market cap was larger than GlaxoSmithKline's (GSK) previous $3B settlement for violations under the False Claims Act, which he called the biggest ever historical pharma settlement. While Commissioner Dave Jones claims imply that the potential fine for Abbvie could theoretically be more than $3B, Risinger also noted that the company told him it believes the allegations "are completely without merit." He maintains an Equal Weight rating and $100 price target on AbbVie shares.

TODAY'S FREE FLY STORIES

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EIGR

Eiger BioPharmaceuticals

$10.50

0.005 (0.05%)

11:31
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HSY

Hershey

$107.54

3.17 (3.04%)

11:30
12/19/18
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On The Fly
Bank of America predicts 10% annual returns, ups Hershey two notches to Buy »

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AGN

Allergan

$138.51

-8.26 (-5.63%)

11:25
12/19/18
12/19
11:25
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11:25
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  • 05

    Jan

11:25
12/19/18
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11:25
General news
Today's U.S. reports »

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11:25
Conference/Events
Stephens paper/packaging analyst to hold a luncheon meeting »

Paper & Packaging…

AGN

Allergan

$138.73

-8.04 (-5.48%)

11:21
12/19/18
12/19
11:21
12/19/18
11:21
Recommendations
Allergan analyst commentary  »

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  • 05

    Jan

HSY

Hershey

$107.81

3.44 (3.30%)

, AXP

American Express

$100.28

-0.72 (-0.71%)

11:19
12/19/18
12/19
11:19
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11:19
On The Fly
Fly Intel: Today's top analyst calls on Wall Street »

Check out today's top…

HSY

Hershey

$107.81

3.44 (3.30%)

AXP

American Express

$100.28

-0.72 (-0.71%)

MU

Micron

$32.99

-1.13 (-3.31%)

AAPL

Apple

$166.56

0.75 (0.45%)

AMZN

Amazon.com

$1,565.24

14.24 (0.92%)

GE

General Electric

$7.82

0.545 (7.50%)

03/08/13
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03/06/13
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  • 19

    Dec

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    Dec

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    Jan

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    Jan

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    Jan

FB

Facebook

$141.92

-1.72 (-1.20%)

11:18
12/19/18
12/19
11:18
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11:18
Technical Analysis
Technical Take: Facebook falls after earlier rally »

The stock was last down…

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

11:17
12/19/18
12/19
11:17
12/19/18
11:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

11:16
12/19/18
12/19
11:16
12/19/18
11:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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NLSN

Nielsen

$25.21

0.5 (2.02%)

11:10
12/19/18
12/19
11:10
12/19/18
11:10
Options
Call spreads in Nielsen as a bullish play is extended »

Call spreads in Nielsen…

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EMITF

Elbit Imaging

$1.65

0.11 (7.14%)

11:04
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12/19
11:04
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11:04
Hot Stocks
Elbit Imaging says no longer controlling shareholder of Plaza Centers »

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XRX

Xerox

$21.53

0.46 (2.18%)

11:00
12/19/18
12/19
11:00
12/19/18
11:00
Options
Ratio put spread in Xerox as shares advance from 52-week lows »

Ratio put spread in Xerox…

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  • 05

    Feb

10:55
12/19/18
12/19
10:55
12/19/18
10:55
General news
U.S. existing home sales were stronger than expected in November »

U.S. existing home sales…

COP

ConocoPhillips

$62.73

0.81 (1.31%)

10:50
12/19/18
12/19
10:50
12/19/18
10:50
Options
Notable call activity in ConocoPhillips »

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MHK

Mohawk

$123.49

5 (4.22%)

10:45
12/19/18
12/19
10:45
12/19/18
10:45
Downgrade
Mohawk rating change  »

Mohawk downgraded to Hold…

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VMW

VMware

$158.32

3.66 (2.37%)

10:44
12/19/18
12/19
10:44
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10:44
Hot Stocks
Route1 files patent infringement complaint against VMware, AirWatch »

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  • 10

    Jan

CI

Cigna

$192.93

0.83 (0.43%)

, ESRX

Express Scripts

$95.33

0.31 (0.33%)

10:44
12/19/18
12/19
10:44
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10:44
Hot Stocks
Cigna, Express Scripts receive approval from state of NJ for merger transaction »

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CI

Cigna

$192.93

0.83 (0.43%)

ESRX

Express Scripts

$95.33

0.31 (0.33%)

03/08/13
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  • 10

    Jan

GM

General Motors

$35.68

0.77 (2.21%)

10:40
12/19/18
12/19
10:40
12/19/18
10:40
Options
Far upside call buyer in GM »

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CMD

Cantel Medical

$75.82

-0.35 (-0.46%)

10:37
12/19/18
12/19
10:37
12/19/18
10:37
Hot Stocks
Cantel Medical raises semiannual dividend 17.6% to 10c per share »

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  • 19

    Dec

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$257.42

2.33 (0.91%)

10:32
12/19/18
12/19
10:32
12/19/18
10:32
Periodicals
Senate to introduce short-term measure to avoid government shutdown, CNBC says »

The Senate will introduce…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$257.42

2.33 (0.91%)

03/08/13
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10:31
12/19/18
12/19
10:31
12/19/18
10:31
General news
Crude inventories for week of December 14 »

Crude oil inventories…

ABX

Barrick Gold

$13.82

-0.07 (-0.50%)

10:30
12/19/18
12/19
10:30
12/19/18
10:30
Options
Heavy volume in Barrick Gold downside Jan puts »

Heavy volume in Barrick…

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JKS

JinkoSolar

$10.99

-0.05 (-0.45%)

10:29
12/19/18
12/19
10:29
12/19/18
10:29
Initiation
JinkoSolar initiated  »

JinkoSolar initiated with…

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  • 23

    Dec

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