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PFNX

Pfenex

$3.48

-0.13 (-3.60%)

, LLY

Eli Lilly

$113.63

-2.175 (-1.88%)

08:09
12/10/18
12/10
08:09
12/10/18
08:09

Pfenex submits PF708 NDA to FDA

Pfenex (PFNX) announced the submission of its new drug application, or NDA, to the FDA seeking approval of PF708 for the treatment of osteoporosis. The application is submitted as a 505 NDA and references Eli Lilly's (LLY) Forteo as the reference listed drug.

PFNX

Pfenex

$3.48

-0.13 (-3.60%)

LLY

Eli Lilly

$113.63

-2.175 (-1.88%)

  • 19

    Dec

PFNX Pfenex
$3.48

-0.13 (-3.60%)

LLY Eli Lilly
$113.63

-2.175 (-1.88%)

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).
11/26/18
SBSH
11/26/18
DOWNGRADE
SBSH
Neutral
Eli Lilly downgraded to Neutral from Buy at Citi
Citi analyst Andrew Baum downgraded Eli Lilly to Neutral saying the current valuation reflects the company's growth outlook.
11/26/18
SBSH
11/26/18
DOWNGRADE
Target $115
SBSH
Neutral
Citi downgrades Eli Lilly to Neutral after 40% of sector outperformance
Citi analyst Andrew Baum downgraded Eli Lilly to Neutral from Buy while raising his price target for the shares to $115 from $96. The stock closed Friday up 64c to $112.87. After 40% of outperformance versus the sector over the last 10 months, the stock is now trading close to estimated net present value, Baum tells investors in a research note. The analyst believes forecasts for Lilly's in-market drugs, pipeline, portfolio restructuring and spending tightening are now increasingly priced into the valuation. Further, he struggles to find "material near term upside from current levels."
11/26/18
11/26/18
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. Eli Lilly (LLY) downgraded to Neutral from Buy at Citi with analyst Andrew Baum saying after 40% of outperformance versus the sector over the last 10 months, the stock is now trading close to estimated net present value. 2. Cognizant (CTSH) downgraded to Market Perform from Outperform at Cowen with analyst Bryan Bergin saying he is more cautious about a near-term pickup in revenue growth that is implied in the 2019 consensus following weaker performance in Cowen's semi-annual IT Services survey. 3. Westpac Banking (WBK) double downgraded to Sell from Buy at Deutsche Bank with analyst Matthew Wilson saying the Australian banking sector confronts a "raft of real challenges and uncertainty." 4. DHX Media (DHXM) downgraded to Neutral from Buy at B. Riley with analyst Eric Wold citing valuation. 5. Southern Copper (SCCO) downgraded to Reduce from Hold at HSBC. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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