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ABBV

AbbVie

$83.66

1.12 (1.36%)

, MNTA

Momenta

$14.43

0.53 (3.81%)

16:47
11/06/18
11/06
16:47
11/06/18
16:47

AbbVie announces global patent license with Momenta

AbbVie (ABBV) announced today patent license agreements with Momenta (MNTA) over its proposed biosimilar adalimumab product. Under the terms of the agreements, AbbVie will grant Momenta a non-exclusive license on specified dates to AbbVie's intellectual property relating to HUMIRA in the United States and in various other countries around the world in which AbbVie has intellectual property: Momenta's U.S. license will begin on November 20, 2023, and will not be accelerated by the entry of companies who have already taken a license. In the European Union, Momenta can launch upon approval from the European Medicines Agency. Momenta will pay royalties to AbbVie for licensing its HUMIRA patents and acknowledges the validity of the licensed patents. AbbVie will make no payments to Momenta. The precise terms are confidential between the parties.

ABBV

AbbVie

$83.66

1.12 (1.36%)

MNTA

Momenta

$14.43

0.53 (3.81%)

  • 07

    Nov

ABBV AbbVie
$83.66

1.12 (1.36%)

10/25/18
BMOC
10/25/18
NO CHANGE
Target $192
BMOC
Outperform
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.
10/30/18
NOMU
10/30/18
NO CHANGE
Target $140
NOMU
Buy
Galapagos price target raised to $140 from $124 at Nomura Instinet
Nomura Instinet analyst Christopher Marai raised his price target for Galapagos NV to $140 following last week's Q3 results and the sale of its partnered-cystic fibrosis program back to AbbVie (ABBV) for $45M upfront and $200M in milestones. The analyst views the upfront payments as upside to expectations and keeps a Buy rating on Galapagos shares.
11/02/18
PIPR
11/02/18
NO CHANGE
PIPR
AbbVie Q3 results do not convince Piper Jaffray to get off sidelines
Piper Jaffray analyst Christopher Raymond maintained a Neutral rating on AbbVie after the company's Q3 earnings results, which Raymond noted were better than expected. However, the analyst was cautious given management's indication of growing headwinds, which he believes "portend a meaningful downward revision to FY19 consensus." Additionally, Raymond sees AbbVie "married to the prospects of Humira," which he believes now faces international headwinds competing with four biosimilars.
11/06/18
ARGS
11/06/18
NO CHANGE
Target $115
ARGS
Buy
AbbVie price target lowered to $115 from $130 at Argus
Argus analyst David Toung lowered his price target on AbbVie to $115 to reflect the competitive environment for its Humira sales from biosimilars in Europe, but also kept his Buy rating and raised his FY18 EPS view by 9c to $7.91 and FY19 by 12c to $9.00. The analyst says Humira should continue to post "solid growth" in the U.S. markets, and also cites the prospects of its Imbruvica, Venclexta Orilissa and hepatitis C drugs along with its remaining product pipeline. Toung contends that the "incremental sales of new faster-growing products can more than offset the expected decline in overseas sales of Humira".
MNTA Momenta
$14.43

0.53 (3.81%)

06/12/18
CANT
06/12/18
INITIATION
CANT
Cantor expands Specialty Pharmaceuticals coverage with eight names
Cantor Fitzgerald analyst Brandon Folkes last night rolled out coverage on eight names in the Specialty Pharmaceuticals space. He initiated coverage of AcelRx (ACRX), ANI Pharmaceuticals (ANIP), Biohaven Pharmaceutical (BHVN), Collegium Pharmaceutical (COLL), Emergent BioSolutions (EBS), Eagle Pharmaceuticals (EGRX) and Opiant Pharmaceuticals (OPNT) with Overweight ratings. There is still value to be unlocked in these stocks at current valuations with risk/reward profiles that remain to the upside, Folkes told investors in a research note. His top picks are ANI Pharmaceuticals, Emergent BioSolutions and Collegium Pharmaceutical. The analyst rounded out his coverage with a Neutral rating on Momenta (MNTA), saying the recent share rally puts him on the sidelines "for now."
09/13/18
STFL
09/13/18
INITIATION
Target $40
STFL
Buy
Momenta assumed with a Buy at Stifel
Stifel analyst Derek Archila assumed Momenta with a Buy rating and a price target of $40, saying the stock offers an investment in an "exciting biotech company that has a pipeline with demonstrated proof-of-mechanism". The analyst expects sentiment on Momenta to shift as it "completes its strategic review, ideally sheds costs/potentially monetizes its legacy businesses, and narrows its focus on its proprietary pipeline M281 and M254.
10/11/18
PIPR
10/11/18
NO CHANGE
PIPR
Overweight
Piper says Momenta update underscores safer profile of Argenx's efgartigimod
Piper Jaffray analyst Edward Tenthoff noted that at Momenta's (MNTA) R&D Day the company shared additional safety data for anti-FcRn antibody M281, disclosing that three subjects in the multiple ascending dose cohort of the Phase 1 study experienced CK elevation and terminated dosing. Also, a 25-30% reduction in serum albumin was reported across single and multiple dosing cohorts, said Tenthoff, who added that neither of these events were observed in Argenx's (ARGX) animal or healthy volunteer studies for efgartigimod. The analyst, who believes efgartigimod produces similar activity without compromising safety and sees the company as about two years ahead of Momenta, keeps an Overweight rating and $154 price target on Argenx shares.
11/05/18
PIPR
11/05/18
INITIATION
Target $35
PIPR
Overweight
Momenta initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Danielle Brill started Momenta Pharmaceuticals with an Overweight rating and $35 price target. The company offers a "rare" biotech investment opportunity as its stock is "super cheap" and its anti-FcRn therapies could be game changing for treating auto-immune diseases, Brill tells investors in a research note. Momenta's proprietary pipeline has "major blockbuster potential and is underappreciated by investors," says the analyst.

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Fresh Del Monte

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BHC

Bausch Health

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VLKAY

Volkswagen

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Audi AG

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13:59
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Periodicals
Audi plans to cut 10% of management positions, Reuters reports »

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TTD

Trade Desk

$146.31

-15.45 (-9.55%)

13:58
02/20/19
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13:58
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13:58
On The Fly
Trade Desk slides after analyst cuts rating ahead of quarterly results »

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UA

Under Armour

$19.15

-0.23 (-1.19%)

13:55
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13:55
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13:55
Options
Under Armour put volume heavy and directionally bearish »

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PM

Philip Morris

$85.42

2 (2.40%)

13:50
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13:50
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13:50
Earnings
Philip Morris repeats Q1 reported diluted EPS view of $1.00, consensus $1.01 »

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Philip Morris

$85.42

2 (2.40%)

13:49
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13:49
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Earnings
Philip Morris reaffirms FY19 reported diluted EPS guidance of at least $5.37 »

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13:45
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General news
Fed's Kaplan said a weaker business outlook is the reason for caution on rates »

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MDR

McDermott

$7.80

0.44 (5.98%)

13:40
02/20/19
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13:40
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13:40
Options
Bullish option play in McDermott as shares rally ahead of earnings »

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STAG

STAG Industrial

$28.24

-0.59 (-2.05%)

13:34
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GOOG

Alphabet

$1,118.00

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, GOOGL

Alphabet Class A

$1,125.12

-1.31 (-0.12%)

13:28
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Epic Games stops 'Fortnite' pre-roll ads on YouTube due to predators, Verge says »

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Alphabet Class A

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TCEHY

Tencent

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DIS

Disney

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0.11 (0.10%)

KKR

KKR

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S&P 500

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, SPY

SPDR S&P 500 ETF Trust

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0.11 (0.04%)

13:28
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Barr could announce end of Mueller investigation next week, CNN reports »

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OMI

Owens & Minor

$6.40

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13:24
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Owens & Minor working with banks to explore sale, Reuters reports »

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OMI

Owens & Minor

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OMI

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GOLD

Barrick Gold

$13.98

0.43 (3.17%)

13:17
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Barrick Gold confirms commitment to Chile as it reviews LATAM strategy »

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Owens & Minor

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$NSD

NASDAQ Market Internals

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NASDAQ market internals summary »

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Facebook

$161.80

-0.49 (-0.30%)

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Alphabet

$1,114.63

-3.53 (-0.32%)

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On The Fly
#SocialStocks: YouTube updates penalty system, Twitter developing Snapchat-like camera »

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FB

Facebook

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GOOG

Alphabet

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GOOGL

Alphabet Class A

$1,121.14

-5.29 (-0.47%)

TWTR

Twitter

$31.37

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SNAP

Snap

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$NYE

NYSE Market Internals

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13:16
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