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VRTX

Vertex

$163.07

-11.11 (-6.38%)

, ABBV

AbbVie

$79.38

-4.02 (-4.82%)

07:42
10/25/18
10/25
07:42
10/25/18
07:42

Vertex price target lowered to $192 from $204 at BMO Capital

BMO Capital analyst Do Kim lowered his price target on Vertex (VRTX) to $192, saying its in-line Q3 results may be overshadowed by the AbbVie (ABBV) decision to license rights to Galapagos (GLPG) cystic fibrosis program, since the expectation was for the collaboration to dissolve. The analyst adds that while the Galapagos interim data did not make competitive inroads on Vertex therapies, he is still lowering the the FY19 EPS view for the latter to $4.43 from $5.13 on slow ex-U.S. growth amid reimbursement challenges and higher operating expenses. Longer term, Kim keeps his Outperform rating on Vertex.

VRTX

Vertex

$163.07

-11.11 (-6.38%)

ABBV

AbbVie

$79.38

-4.02 (-4.82%)

GLPG

Galapagos NV

$100.65

-4.05 (-3.87%)

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VRTX Vertex
$163.07

-11.11 (-6.38%)

10/11/18
JEFF
10/11/18
NO CHANGE
Target $210
JEFF
Buy
Jefferies sees shares of Vertex 'going back up and recovering'
Shares of Vertex Pharmaceuticals (VRTX) have pulled back from recent highs of $190-$195 down to $175 on "risk-off rotation" amid the broader market selloff, Jefferies analyst Michael Yee tells investors in a research note. However, nothing fundamental has happened and Vertex still has the "cleanest growth story in large biotech," Yee contends. The triple pill has confirmed Phase III pivotal data coming Q4 and upcoming competitor Galapagos NV (GLPG) data "probably will eventually disappoint," claims the analyst. He also views CTX001 coming off clinical hold as a "nice positive" and thinks the company's pipeline is likely to start garnering more focus over the next 6-12 months. Yee sees the stock "eventually going back up and recovering" and keeps a Buy rating on Vertex with a $210 price target.
10/18/18
MSCO
10/18/18
NO CHANGE
MSCO
Overweight
Vertex weakness on competitor data an overreaction, says Morgan Stanley
Morgan Stanley analyst Matthew Harrison attributes weakness in shares of Vertex (VRTX) to the fact that potential competitor Proteostasis (PTI) released initial Phase 1 data showing that its doublet achieved a roughly 6% increase in FEV1 in the highest dose, compared with about 5% for the VX-661 doublet in Phase 1/2. However, he would caution over-interpretation of the results, noting that Proteostasis' data includes only about five patients per arm; the high mean FEV1 increase may be the result of a "super-responder"; and doublet data "isn't meaningful given triplets with 10-15% FEV1 improvement will be the new standard of care." The analyst, who sees Vertex's sizeable lead and robust data limiting any competitive risks, keeps an Overweight rating on Vertex shares, which are down about 4% in morning trading.
10/18/18
RBCM
10/18/18
UPGRADE
Target $9
RBCM
Outperform
Proteostasis upgraded to Outperform at RBC Capital on positive CF data
As reported earlier, RBC Capital analyst Brian Abrahams upgraded Proteostasis (PTI) to Outperform from Sector Perform and also raised his price target to $9 from $4 following an "impressive" set of data from its phase 2 cystic fibrosis doublet trial. The analyst notes that while it is too soon to determine if it will pose a "competitive threat to developmental CFTR modulators marketed by Vertex Pharma (VRTX), the trial showed "clean, consistent, dose-dependent lung function improvements".
10/01/18
CANT
10/01/18
INITIATION
Target $217
CANT
Overweight
Vertex initiated with an Overweight at Cantor Fitzgerald
Cantor Fitzgerald analyst Alethia Young started Vertex Pharmaceuticals with an Overweight rating and $217 price target.
ABBV AbbVie
$79.38

-4.02 (-4.82%)

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.
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.
10/22/18
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.
10/23/18
WOLF
10/23/18
INITIATION
Target $85
WOLF
Underperform
AbbVie initiated with an Underperform at Wolfe Research
Wolfe Research analyst Time Anderson reinitiated AbbVie with an Underperform and $85 price target.
GLPG Galapagos NV
$100.65

-4.05 (-3.87%)

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.
09/13/18
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
JPMS
09/12/18
INITIATION
JPMS
Overweight
Galapagos NV initiated with an Overweight at JPMorgan

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CVNA

Carvana

$66.99

-0.175 (-0.26%)

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INSM

Insmed

$26.37

-1.71 (-6.09%)

20:57
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Insmed 9.62M share Secondary priced at $26.00 »

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LOW

Lowe's

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1.86 (1.70%)

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Analog Devices

$99.98

2.54 (2.61%)

20:25
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Target

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VF Corp.

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Advance Auto Parts

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CLSA Asian tech analysts to hold an analyst/industry conference call »

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SPY

SPDR S&P 500 ETF Trust

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S&P 500

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NeoGenomics

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NeoGenomics 7M share Secondary priced at $21.25 »

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BAM

Brookfield

$47.03

0.02 (0.04%)

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Blackstone

$41.79

1.17 (2.88%)

19:29
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Periodicals
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BX

Blackstone

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GOLD

Barrick Gold

$12.12

-0.07 (-0.57%)

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Barrick says Acacia proposal reflects 'fair value' following Tanzania talks »

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SE

Sea Limited

$25.38

-0.42 (-1.63%)

19:04
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Hot Stocks
Sea Limited reports Q1 QAUs up 114.4% from last year »

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SE

Sea Limited

$25.38

-0.42 (-1.63%)

19:02
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Earnings
Sea Limited reports Q1 EPS (64c), consensus (68c) »

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SNE

Sony

$51.01

-1.195 (-2.29%)

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Periodicals
Sony aims to bolster cash flow to better compete in chips, games, NAR says »

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OOMA

Ooma

$14.49

-0.45 (-3.01%)

, CVI

CVR Energy

$47.29

0.9 (1.94%)

18:47
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Hot Stocks
Fly Intel: After Hours Movers »

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OOMA

Ooma

$14.49

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CVR Energy

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0.9 (1.94%)

PVH

PVH Corp.

$108.53

2.5075 (2.37%)

PSTG

Pure Storage

$20.60

0.6 (3.00%)

JWN

Nordstrom

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URBN

Urban Outfitters

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TOL

Toll Brothers

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ONCS

OncoSec

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Ekso Bionics

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Tocagen

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LiqTech

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TREX

Trex Company

$61.44

2.38 (4.03%)

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Trex Company CEO: There is no demand issue »

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CRMT

America's Car-Mart

$101.76

1.74 (1.74%)

18:34
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Earnings
America's Car-Mart reports Q4 EPS $2.07, consensus $1.82 »

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JCOM

j2 Global

$87.23

0.75 (0.87%)

18:25
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Hot Stocks
j2 Global CFO sells 5.6K shares of common stock »

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NVS

Novartis

$82.38

0.36 (0.44%)

18:24
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Novartis CEO: We are entering an exciting growth phase for the company »

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EADSY

Airbus

$0.00

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18:20
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Airbus in talks to find resolution to German arms export row, Reuters says »

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AGRO

Adecogro

$6.50

0.07 (1.09%)

18:19
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Earnings
Adecogro reports Q1 adjusted EBITDA $58.3M, down 5.9% from last year »

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GOOG

Alphabet

$1,149.14

10.81 (0.95%)

, GOOGL

Alphabet Class A

$1,154.26

8.98 (0.78%)

18:01
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Google updates policy on abortion-related ads »

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GOOG

Alphabet

$1,149.14

10.81 (0.95%)

GOOGL

Alphabet Class A

$1,154.26

8.98 (0.78%)

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HAIN

Hain Celestial

$23.90

0.45 (1.92%)

17:50
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Engaged Capital raises stake in Hain Celestial to 20.2% from 18.3% »

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NTDOY

Nintendo

$0.00

(0.00%)

17:48
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Nintendo to end 'Animal Crossing,' 'Fire Emblem' mobile game service in Belgium »

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URBN

Urban Outfitters

$27.01

0.05 (0.19%)

17:44
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Hot Stocks
Urban Outfitters sees Q2 URBN retail SSS in low single-digit negative range »

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GLD

SPDR Gold Shares

$120.34

-0.31 (-0.26%)

17:42
05/21/19
05/21
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17:42
Hot Stocks
SPDR Gold Shares holdings rise to 739.69MT from 736.17MT »

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ASCMA

Ascent Capital

$0.91

0.0502 (5.87%)

17:38
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05/21
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17:38
Hot Stocks
Ascent Capital and Monitronics International announce restructuring support pact »

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TRS

TriMas

$30.33

0.39 (1.30%)

17:33
05/21/19
05/21
17:33
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17:33
Hot Stocks
TriMas VP Joshua Sherbin sells over $646K in company shares »

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