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ABBV

AbbVie

$90.04

0.12 (0.13%)

, PFE

Pfizer

$45.64

0.13 (0.29%)

10:02
11/30/18
11/30
10:02
11/30/18
10:02

AbbVie signs patent license agreements with Pfizer over Humira biosimilar

AbbVie (ABBV) announced patent license agreements with Pfizer (PFE) over its proposed biosimilar adalimumab product. Under the terms of the agreements, AbbVie will grant Pfizer 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. Pfizer'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. And in the European Union, Pfizer can launch upon approval from the European Medicines Agency. Pfizer will pay royalties to AbbVie for licensing its Humira patents and "acknowledges the validity of the licensed patents,' AbbVie says in a statement. The company will make no payments to Pfizer. The precise terms are confidential between the parties, it added.

ABBV

AbbVie

$90.04

0.12 (0.13%)

PFE

Pfizer

$45.64

0.13 (0.29%)

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ABBV AbbVie
$90.04

0.12 (0.13%)

11/23/18
RHCO
11/23/18
NO CHANGE
Target $135
RHCO
Buy
AbbVie gets 'another leg of growth' on FDA approval of Venclexta, says SunTrust
SunTrust analyst John Boris kept his Buy rating and $135 price target on AbbVie (ABBV), saying the latest FDA approval for its Venclexta for the treatment of newly-diagnosed acute myeloid leukemia in adults aged 75 years or more that is jointly marketed with Roche (RHHBY) gives the company "another leg of growth" with over $1B in estimated peak sales. The analyst sees the results from a phase-3 Bellini study evaluating the combination of Venclexta, Velcade, and dexamethasone in relapsed and refractory Multiple Myeloma expected in the first half of 2019 as the next potential catalyst for the program.
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".
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.
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.
PFE Pfizer
$45.64

0.13 (0.29%)

11/27/18
LEER
11/27/18
INITIATION
LEER
Leerink initiates select Genetic Medicine names on increasing regulatory clarity
Leerink analyst Mani Foroohar initiated select Genetic Medicine stocks, stating that the field is "is rich with companies developing drugs" to treat rare diseases and that he is increasingly more bullish on "innovation velocity and increasing regulatory clarity in the sector. Based on his "balanced view of pricing dynamics", the analyst issues an Outperform rating on Wave Life Sciences (WVE), Rocket Pharmaceuticals (RCKT), Intellia Therapeutics (NTLA), Eidos Therapeutics (EIDX), Dicerna (DRNA) and Bluebird Bio (BLUE). The analyst likes Wave Life Sciences as a pure play on Oligotherapeutics and its stereopure chemistry platform as a differentiated approach to oligo drug design. Foroohar is positive on Rocket Pharma's lead assets in gene therapies for Fanconi Anemia and Leukocyte Adhesion Deficiency-I "which will likely be the company's first potential approved product." The analyst is positive on Intellia Therapeutics' "robust balance sheet to support development, trading at a material discount to closest comps peers". For Eidos, the analyst cites the prospects of its drug candidate for TTR amyloidosis currently in a placebo-controlled Phase 2 study that may offer a competitive profile relative to Pfizer's (PFE) tafamidis. For Dicerna, Foroohar notes that its DCR-PHXC "is an RNAi therapeutic that targets lactate dehydrogenase A for the treatment of all subtypes of Primary Hyperoxaluria vs. competitor Alnylam's (ALNY) lumasiran, which only treats PH Type 1. For Bluebird Bio, the analyst is positive on its position as a "leader in ex vivo gene therapy, with four programs with visibility towards near-term regulatory approval". Foroohar initiates Avrobio (AVRO), Alnylam (ALNY), and Ionis Pharmaceuticals (IONS) with Market Perform rating based on competitive launches for their products along with "mixed" early signs of their results. The analyst also rates Regenxbio (RGNX) at underperform, saying that its "current valuation more than accounts for robust royalty streams from sales in spinal muscular atrophy" and other partnered assets.
11/19/18
CANT
11/19/18
NO CHANGE
Target $53
CANT
Overweight
Pfizer's oncology assets are underappreciated, says Cantor Fitzgerald
Pfizer's oncology assets will make up 13% of its total 2018 sales and they will accelerate the company's sales growth for the foreseeable future, but these drugs are underappreciated, Cantor Fitzgerald analyst Louise Chen tells investors in a research note. Pfizer has said that through 2022 it expects 15 potential blockbusters to be launched, and oncology drugs are represented in these opportunities, the analyst points out. She sees upside to consensus estimates and keeps an Overweight rating on Pfizer with a $53 price target.
11/19/18
WELS
11/19/18
NO CHANGE
WELS
Pfizer price hikes may bring industry scrutiny, says Wells Fargo
Pfizer's (PFE) plans to raise prices on a host of medicines may put the drug industry "further in the crosshairs of an administration and Congress that is set on lowering drug prices," Wells Fargo analyst David Maris tells investors in a research note. The analyst points out that Pfizer earlier this year was criticized by the Trump administration for drug price increases, and as a result, it rolled the price increases back. However, Pfizer's new price increases "are not egregious" and its advance warning may be an attempt to see if minor price increases will also bring the administration's rebuke, says Maris. Nonetheless, given how public the administration's previous rebuke was, the analyst thinks Pfizer's confirmation Friday could "enflame the debate around drug pricing, especially since it comes less than two weeks following an election that resulted in Democrat control of the House with many having run on a drug-price-controls/Medicare-for-All platforms." Other large drugmakers include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Roche (RHHBY) and Sanofi (SNY).
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.

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SiTime

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GRUB

GrubHub

$41.80

1.195 (2.94%)

10:55
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Options
GrubHub put volume heavy and directionally bearish »

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PAYS

Paysign

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-0.26 (-2.90%)

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Aurelius says short Paysign, sees 'stock promotion set to end in failure' »

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DISCA

Discovery

$31.72

-0.29 (-0.91%)

10:46
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Discovery shares 'dramatically undervalued,' says John Malone »

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FCX

Freeport McMoRan

$10.94

-0.105 (-0.95%)

10:45
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Freeport McMoRan call volume above normal and directionally bullish »

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CAN

Canaan

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10:44
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Breaking Syndicate news story on Canaan »

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WE

We Company

$0.00

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, SFTBF

SoftBank

$0.00

(0.00%)

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Periodicals
Breaking Periodicals news story on We Company, SoftBank, SoftBank »

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WE

We Company

$0.00

(0.00%)

SFTBF

SoftBank

$0.00

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SFTBY

SoftBank

$0.00

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SITM

SiTime

$0.00

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10:42
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Syndicate
SiTime indicated to open at $17.25, IPO priced at $13.00 »

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CAN

Canaan

$0.00

(0.00%)

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Syndicate
Breaking Syndicate news story on Canaan »

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10:35
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General news
U.S. existing home sales tracked estimates »

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TSLA

Tesla

$357.27

4.94 (1.40%)

, GM

General Motors

$35.16

-0.1 (-0.28%)

10:34
11/21/19
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10:34
On The Fly
Wall Street eyes Tesla ahead of 'Cybertruck' pickup truck reveal »

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TSLA

Tesla

$357.27

4.94 (1.40%)

GM

General Motors

$35.16

-0.1 (-0.28%)

F

Ford

$8.72

-0.005 (-0.06%)

AMZN

Amazon.com

$1,738.96

-6.54 (-0.37%)

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CAN

Canaan

$0.00

(0.00%)

10:32
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Syndicate
Canaan indicated to open at $12.60, IPO priced at $9.00 »

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VKTX

Viking Therapeutics

$7.20

0.12 (1.69%)

10:30
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Recommendations
Viking Therapeutics analyst commentary  »

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SPY

SPDR S&P 500 ETF Trust

$310.33

-0.47 (-0.15%)

10:30
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Options
Put sales in SP500 ETF likely unwind hedges from August »

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USO

United States Oil Fund

$12.11

0.2 (1.68%)

10:30
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General news
EIA natural gas storage change for week ending November 15 »

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SNAP

Snap

$15.56

0.245 (1.60%)

10:25
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Options
Snap Inc. call volume above normal and directionally bullish »

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10:25
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General news
Treasury Action: Treasuries have continued to give ground »

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TRIP

TripAdvisor

$28.18

0.22 (0.79%)

10:25
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TripAdvisor to host investor meeting »

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