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PFE

Pfizer

$43.23

-0.29 (-0.67%)

, AGN

Allergan

$158.94

-3.695 (-2.27%)

15:32
11/14/18
11/14
15:32
11/14/18
15:32

Pfizer loses drug patent battle in U.K., could face claims, Reuters says

Pfizer (PFE) lost the final round in a lengthy patent fight in the U.K. after the country's highest court ruled against it in a case involving its $5B-per-year pain drug Lyrica, exposing the drugmaker to potential financial claims, Reuters reports. The court's decision is a major blow for Pfizer but a win for generic drug makers Allergan (AGN) and Mylan (MYL), the report notes. Reference Link

PFE

Pfizer

$43.23

-0.29 (-0.67%)

AGN

Allergan

$158.94

-3.695 (-2.27%)

MYL

Mylan

$34.16

-1.6 (-4.47%)

  • 14

    Nov

  • 03

    Dec

PFE Pfizer
$43.23

-0.29 (-0.67%)

11/07/18
CHDN
11/07/18
NO CHANGE
Target $70
CHDN
Buy
uniQure price target raised to $70 from $50 at Chardan
Chardan analyst Gbola Amusa increased his price target on uniQure (QURE) to $70 from $50, stating that he believes the market is missing important dynamics in uniQure's favor over hemB competition from Pfizer (PFE) and Spark Therapeutics (ONCE). Amusa said uniQure's manufacturing is "much more scalable" than Pfizer's and he also believes uniQure's IP may cover the construct utilized by Pfizer. Amusa keeps a Buy rating on uniQure shares.
11/06/18
SBSH
11/06/18
INITIATION
Target $25
SBSH
Sell
Solid Biosciences initiated with a Sell at Citi
Citi analyst Joel Beatty started Solid Biosciences (SLDB) with a Sell rating and $25 price target. The analyst believes the gene therapy agents in clinical development for Duchenne muscular dystrophy by Sarepta (SRPT) and Pfizer (PFE) will leave little market share to Solid Bio's SGT-001. The analyst forecasts Sarepta capturing the largest share of the DMD gene therapy market, followed by Pfizer, and then Solid.
11/01/18
11/01/18
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. Pfizer (PFE) downgraded to Market Perform from Outperform at BMO Capital with analyst Alex Arfaei saying he maintains a positive view on the company longer-term but sees valuation at current levels reflecting its risk-reward profile. 2. Encana (ECA) downgraded to Underperformer from Neutral at CIBC. 3. New Oriental Education (EDU) downgraded to Hold from Buy at Deutsche Bank with analyst Tallan Zhou saying he expects "lingering margin pressure" following Q1 results. 4. Autoliv (ALV) downgraded to Neutral from Buy at Longbow with analyst Anthony Deem saying he sees the company's revenue growth being "very solid" through 2020 in mid-to-high single digit percentage territory, but he is less confident in positive operating leverage due to incremental cost overruns associated with new launches. 5. Aegion (AEGN) downgraded to Hold from Buy at Canaccord with analyst Chip Moore saying the company is a well positioned pipeline infrastructure play that is poised to benefit from attractive secular drivers longer-term, but the risk/reward is balanced at current levels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/01/18
BMOC
11/01/18
DOWNGRADE
Target $46
BMOC
Market Perform
Pfizer downgraded to Market Perform at BMO Capital on valuation
As reported earlier, BMO Capital analyst Alex Arfaei downgraded Pfizer to Market Perform from Outperform and lowered his price target to $46 from $47. The analyst maintains a positive view on the company longer-term but sees valuation at current levels reflecting its risk-reward profile. Arfaei points to potential headwinds facing Pfizer that include immuno-oncology R&D execution, along with disappointing sales from Prevnar, Ibrance, Xtandi, and Xeljanz. The analyst also believes that the positives of margin expansion and the prospects of Pfizer's pipeline assets like Tafamidis and Tanezumab are accounted by its stock price.
AGN Allergan
$158.94

-3.695 (-2.27%)

11/01/18
MZHO
11/01/18
NO CHANGE
Target $213
MZHO
Buy
Allergan selloff on 'optimistic' 2019 estimates overdone, says Mizuho
Mizuho analyst Irina Koffler lowered her price target for Allergan shares to $213 from $220 but remains a buyer of the stock with a Buy rating. The analyst attributes the weakness in shares of Allergan to "overly optimistic" 2019 estimates. However, the selloff is overdone, Koffler tells investors in a research note.
11/13/18
LEER
11/13/18
INITIATION
Target $220
LEER
Outperform
Allergan initiated with an Outperform at Leerink
Leerink analyst Marc Goodman started Allergan with an Outperform and $220 price target as he initiates Neuroscience space with a Positive View. The analyst believes the Neuroscience sector is experiencing a "renaissance" as multiple new agents and mechanisms are coming up the pipeline across major therapeutic areas, the number of clinical studies is growing nicely, and the FDA is friendly to innovation in this space, companies are getting smarter about speed-to-market strategies and selecting niche sub-populations to focus on for initial product approvals, payer pushback on usage is much lower than in other categories, and physicians are enthusiastic about new agents. Regarding Allergan, Goodman notes that management has finally rebased numbers and growth expectations to credible levels and the balance sheet is becoming less of a focus. Further, he believes the underlying growth of the base business is underappreciated.
11/14/18
11/14/18
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. Avid (AVID) initiated with a Hold at Jefferies. 2. ProQR Therapeutics (PRQR) initiated with an Overweight at Cantor Fitzgerald. 3. GW Pharmaceuticals (GWPH) initiated with an Outperform at Leerink. 4. Equitrans Midstream (ETRN) initiated with an Overweight at US Capital Advisors. 5. Zymogenetics (ZGEN) and Allergan (AGN) were initiated with an Outperform at Leerink. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/12/18
LEER
11/12/18
INITIATION
Target $220
LEER
Outperform
Allergan initiated with an Outperform at Leerink
Leerink Partners analyst Marc Goodman started Allergan with an Outperform rating and $220 price target.
MYL Mylan
$34.16

-1.6 (-4.47%)

11/06/18
COWN
11/06/18
NO CHANGE
Target $31
COWN
Market Perform
Mylan business model looks broken, says Cowen
Cowen analyst Ken Cacciatore said Mylan's Q3 results confirm his thesis that the current business model looks broken. He said at some point a new product cycle needs to materialize, but in Mylan's case it hasn't happened in a material enough way. Cacciatore recommends avoiding the shares and he reiterated his Market Perform rating and $31 price target on Mylan.
11/06/18
WELS
11/06/18
UPGRADE
WELS
Outperform
Mylan upgraded to Outperform from Market Perform at Wells Fargo
11/06/18
WELS
11/06/18
UPGRADE
Target $40
WELS
Outperform
Wells upgrades Mylan to Outperform, sees more upside after today's rally
Wells Fargo analyst David Maris upgraded Mylan (MYL) to Outperform from Market Perform with an unchanged price target of $40. The stock in afternoon trading is up 18%, or $5.76, to $37.13. Mylan shares have underperformed the S&P 500 Index for the year-to-date, one year, two year, and five year periods and the shares trade at a discount to peer Teva (TEVA), Maris tells investors in a research note titled "Concerns Abound, but Valuation Attractive." The analyst, however, believes Mylan is positioned for near-term outperformance after the company maintained its 2018 earnings guidance. Maris previously saw risk to second half of 2018 estimates, but with today's Q3 results, he now believes the risk to the downside to Q4 estimates is lower than previously thought. Further, Mylan's statement that Q4 guidance can be achieved with or without new approvals "provides some upside to sentiment" if generic Advair or other approvals materialize, says the analyst. Maris thinks that even with today's rally, Mylan shares still have more than 10% additional upside potential to reach fair value.
11/06/18
11/06/18
UPGRADE
Target $42

Buy
Mylan upgraded to Buy after 'encouraging' Q3 report at BofA/Merrill
As previously reported, BofA Merrill Lynch analyst Jason Gerberry upgraded Mylan to Buy from Neutral, stating that its Q3 report provided encouraging updates regarding several of its business segments. He believes concerns around its broader portfolio look overdone as industry-level generic pricing is showing signs of stabilizing while the company also provided encouraging new product updates. Gerberry added that he views the 20% stock pullback as an attractive opportunity, but trimmed his price target on Mylan shares to $42 from $44 to reflect rebasing of EpiPen and generic Copaxone.

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AAPL

Apple

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3.88 (1.88%)

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Accenture

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Baidu

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Nabriva Therapeutics

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$104.28

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Nabriva Therapeutics

$2.21

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MRNA

Moderna

$13.41

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IQ

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MRUS

Merus

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SRPT

Sarepta

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ET

Energy Transfer LP

$13.77

0.3 (2.23%)

18:40
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Apple

$210.32

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Sony

$55.71

-0.01 (-0.02%)

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Apple

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Sony

$55.71

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NFLX

Netflix

$309.40

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DIS

Disney

$135.33

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T

AT&T

$35.40

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CBS

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LGI Homes

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Amazon.com

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Walmart

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Sarepta

$120.16

-4.81 (-3.85%)

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Sarepta

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Facebook

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Maxar Technologies

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