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HALO

Halozyme

$14.33

-1.43 (-9.07%)

, BMY

Bristol-Myers

$48.86

-1.74 (-3.44%)

08:17
10/25/18
10/25
08:17
10/25/18
08:17

Bristol-Myers doses first subject in Phase 1 trial using Halozyme's Enhanze

Bristol-Myers (BMY) has dosed the first subject in a clinical trial evaluating the safety, pharmacokinetics and pharmacodynamics of BMS-986179, an investigational anti-CD-73 antibody, using Halozyme's (HALO) proprietary Enhanze drug delivery technology. Initiation of the study triggered a $5M milestone payment to Halozyme under the Collaboration and License Agreement between the companies. Halozyme's Enhanze technology is based on a proprietary recombinant human enzyme that temporarily degrades hyaluronan to aid in the dispersion and absorption of other injected therapeutic drugs. Halozyme has granted to Bristol-Myers Squibb a worldwide license to develop and commercialize products for up to eleven targets, combining rHuPH20 with Bristol-Myers Squibb's immuno-oncology assets. Halozyme received an initial payment of $105M , and is eligible to receive additional payments upon Bristol-Myers Squibb's achievement of specified development, regulatory and sales-based milestones, totaling up to $160M per target. Halozyme is also entitled to tiered royalty payments based on net sales of products using the Enhanze technology.

HALO

Halozyme

$14.33

-1.43 (-9.07%)

BMY

Bristol-Myers

$48.86

-1.74 (-3.44%)

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HALO Halozyme
$14.33

-1.43 (-9.07%)

02/21/18
ADAM
02/21/18
NO CHANGE
Target $21
ADAM
Buy
Halozyme pipeline progress leads to price target increase at Canaccord
Canaccord analyst Arlinda Lee raised her price target on Halozyme to $21 from $19 citing its pipeline progress and steady Enhanze progress. Lee reiterated her Buy rating on Halozyme shares.
05/11/18
LEHM
05/11/18
DOWNGRADE
Target $19
LEHM
Underweight
Halozyme downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Gena Wang downgraded Halozyme Therapeutics to Underweight with a $19 price target. The analyst sees limited upside to revenue estimates in 2018 and "high risk" for the company's Phase 3 readout in pancreatic cancer.
08/22/18
CANT
08/22/18
INITIATION
Target $27
CANT
Overweight
Halozyme initiated with an Overweight at Cantor Fitzgerald
Cantor Fitzgerald analyst Charles Duncan initiated Vanda Pharmaceuticals with an Overweight and $27 price target.
10/18/18
PIPR
10/18/18
INITIATION
Target $17
PIPR
Neutral
Halozyme assumed with a Neutral at Piper Jaffray
Piper Jaffray analyst Joseph Catanzaro assumed coverage of Halozyme Therapeutics with a Neutral rating and $17 price target. While the analyst views the Enhanze technology as an "attractive platform that could drive substantial royalty revenue," he has near term concerns around the pivotal HALO-301 study. He believes HALO-301 will need to hit on both progression-free survival and overall survival to support approval and adoption, which tempers his expectations.
BMY Bristol-Myers
$48.86

-1.74 (-3.44%)

10/22/18
SBSH
10/22/18
DOWNGRADE
Target $57
SBSH
Neutral
Citi sees Merck showing 'extraordinary' treatment effect, downgrades Bristol
Citi analyst Andrew Baum downgraded Bristol-Myers Squibb (BMY) to Neutral from Buy and lowered his price target for the shares to $57 from $62. The drugmaker closed Friday down 3%, or $1.72, to $54.30. The downgrade largely reflects further likely "lowering of floor" Opdivo, Yervoy and earnings estimates from a base that is already materially below the consensus, Baum tells investors in a research note partially titled "The Final Straws." The analyst anticipates an "extraordinary" treatment effect from Keytruda in Merck's (MRK) Keynote-426 trial in renal cell carcinoma given the statistical significance for both progression-free survival and overall survival at the first interim analysis.
10/22/18
HCWC
10/22/18
NO CHANGE
Target $54
HCWC
Neutral
Roche data should concern Nektar bulls, says H.C. Wainwright
H.C. Wainwright analyst Debjit Chattopadhyay believes Roche's (RHHBY) preliminary data of RO6875281, a fibroblast activation protein targeted interleukin-2 variant, should concern the bulls of Nektar Therapeutics (NKTR). The 11% and 20% overall response rate for single agent RO6875281 in squamous cell head and neck cancer and melanoma is compelling, Chattopadhyay tells investors in a research note. Nektar's NKTR-214 had no monotherapy activity, and the early promise in combination with Opdivo "has faded potentially due to its limited PK profile," the analyst adds. In addition, Chattopadhyay believes the monotherapy activity with pegilodecakin, a pegylated IL-10 being developed by Eli Lily (LLY), further complicates the competitive landscape for NKTR-214. He believes the second generation of "not alpha" IL-2, which is poised to enter the clinic during 2019, could further "upend" NKTR-214 and might compel Nektar's partner Bristol-Myers Squibb (BMY) to "re-evaluate the aggressive development strategy that was outlined earlier this year." The analyst keeps a Neutral rating on Nektar with a $54 price target.
10/22/18
10/22/18
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. eBay (EBAY) downgraded to Neutral from Buy at Monness Crespi and BofA/Merrill. 2. Bristol-Myers (BMY) downgraded to Neutral from Buy at Citi. 3. Manpower (MAN) downgraded to Neutral from Overweight at JPMorgan with analyst Andrew Steinerman saying he "misjudged the magnitude" of the European softness for the company as its Q4 financial guidance suggests a down 2% year-over-year same day basis revenue decline. 4. Reliance Steel (RS) downgraded to Neutral from Buy at Longbow with analyst Chris Olin citing near-term risks from unfavorable nonferrous demand/price momentum following a collection of relatively weak data points from the firm's carbon and stainless steel surveys. 5. Wingstop (WING) downgraded to Neutral from Outperform at Wedbush with analyst Nick Setyan saying he continues to believe drivers of same-store sales growth, unit growth, and margin upside relative to current consensus 2018 and 2019 estimates exist. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/23/18
WOLF
10/23/18
INITIATION
Target $66
WOLF
Outperform
Bristol-Myers reinitiated with an Outperform at Wolfe Research
Wolfe Research analyst Time Anderson reinitiated Bristol-Myers with an Outperform and $66 price target.

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MGM

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GOOG

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$1,132.99

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AAPL

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USEG

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MYOV

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MYOV

Myovant Sciences

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NVS

Novartis

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, QGEN

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AVH

Avianca

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AAPL

Apple

$179.03

-0.64 (-0.36%)

16:53
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SHSP

SharpSpring

$16.37

-0.24 (-1.44%)

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CREG

China Recycling Energy

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FENC

Fennec

$3.88

(0.00%)

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Fennec management to meet with Wedbush »

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TD

Toronto-Dominion

$56.66

0.65 (1.16%)

16:35
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Syndicate
Breaking Syndicate news story on Toronto-Dominion »

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16:30
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16:30
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16:30
Options
Preliminary option volume of 15.7M today »

Preliminary option volume…

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