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PFE

Pfizer

$42.39

-0.72 (-1.67%)

, GSK

GlaxoSmithKline

$37.09

0.02 (0.05%)

05:31
12/19/18
12/19
05:31
12/19/18
05:31

Pfizer, GlaxoSmithKline to create consumer healthcare joint venture

PFE

Pfizer

$42.39

-0.72 (-1.67%)

GSK

GlaxoSmithKline

$37.09

0.02 (0.05%)

  • 05

    Jan

  • 29

    Jan

PFE Pfizer
$42.39

-0.72 (-1.67%)

12/11/18
12/11/18
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 Neutral from Overweight at JPMorgan with analyst Christopher Schott citing valuation. 2. Splunk (SPLK) resumed with a Neutral from Buy at Guggenheim with analyst Imtiaz Koujalgi saying while the company's fundamentals are strong, he's "looking for more clarity." 3. CalAmp (CAMP) downgraded to Outperform from Strong Buy at First Analysis and to Market Perform from Outperform at Northland. 4. Acorda Therapeutics (ACOR) downgraded to Sell from Neutral at Goldman Sachs with analyst Salveen Richter saying the commercial outlook for Inbrija appears limited. 5. Versum Materials (VSM) downgraded to Sell from Neutral at Goldman Sachs with analyst Toshiya Hari saying while he remains constructive on the Semiconductor Materials sub-sector broadly, he believes the market is underestimating the extent to which weaker semiconductor capital expenditures could negatively impact the Delivery Systems and Services segment. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/11/18
JPMS
12/11/18
DOWNGRADE
Target $46
JPMS
Neutral
Pfizer downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Christopher Schott downgraded Pfizer to Neutral with an unchanged price target of $46. The shares closed yesterday up 48c to $44.40. The analyst cites valuation for his move to the sidelines after a "strong" 2018 which has to the stock up over 20% year-to-date. Further, he believes Pfizer's product pipeline needs to expand following the patent expiration of Lyrica in 2019.
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.
GSK GlaxoSmithKline
$37.09

0.02 (0.05%)

12/14/18
LEER
12/14/18
NO CHANGE
LEER
Outperform
Tesaro proxy documents point to interest in PARP economics, says Leerink
Leerink analyst Andrew Berens noted that GlaxoSmithKline (GSK) and Tesaro (TSRO) disclosed background details for their deal agreement in a filing this morning. The documents show several parties were interested in a strategic transaction with Tesaro at various points over the last year, though the strategic interest appears to have been driven by Glaxo and one additional company, identified as "Party A", Berens said. It is not clear why the six other contacted parties were not interested in pursuing a strategic transaction, but he thinks Party A's co-promote proposal and the initial interest of other potential acquirers indicates strategic interest in the economics surrounding a PARP. Berens, who continues to see Clovis (CLVS) being well-positioned as the remaining stand-alone PARP-focused company, keeps an Outperform rating on Clovis and Market Perform rating on Tesaro.
12/14/18
12/14/18
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. Tesla (TSLA) initiated with an Outperform at Wedbush and a Hold at Deutsche Bank. 2. New York Times (NYT) initiated with an Outperform at Evercore ISI. 3. Ford (F) and General Motors (GM) were initiated with a Buy at Deutsche Bank, while Autoliv (ALV) was initiated with a Sell. 4. AstraZeneca (AZN) initiated with a Buy at SunTrust while GlaxoSmithKline (GSK) was initiated with a Hold. 5. DaVita (DVA) initiated with an Overweight at Barclays. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/13/18
RHCO
12/13/18
INITIATION
RHCO
Hold
GlaxoSmithKline initiated with a Hold at SunTrust
SunTrust analyst John Boris initiated GlaxoSmithKline with a Hold rating and $38 price target, expecting the company's respiratory franchise to stagnate with Advair generic competition expected in the near-term.
12/11/18
GABE
12/11/18
NO CHANGE
GABE
Buy
Gabelli sees Clovis as likely takeout target, top biotech pick in 2019
Gabelli analyst Jing He highlights Clovis (CLVS) as his top biotech pick in 2019. With the Tesaro (TSRO) acquisition by GlaxoSmithKline (GSK), Clovis will become the only standalone PARP, which the analyst believes makes it the most likely takeout target in 2019. He continues to believe Bristol-Myers (BMY), Sanofi (SNY) and Roche (RHHBY) to be the most interested buyers. The analyst reiterates a Buy rating on Clovis' shares.

TODAY'S FREE FLY STORIES

I

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SDC

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SDC

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TPR

Tapestry

$24.69

-1.28 (-4.93%)

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PUBGY

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$0.00

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, DIS

Disney

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-0.37 (-0.28%)

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Periodicals
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DIS

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Omnicom

$74.82

0.17 (0.23%)

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ALXN

Alexion

$99.63

0.37 (0.37%)

10:45
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Alexion call volume above normal and directionally bullish »

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WDC

Western Digital

$59.26

0.9 (1.54%)

, AAPL

Apple

$237.68

1.47 (0.62%)

10:39
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WDC

Western Digital

$59.26

0.9 (1.54%)

AAPL

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$237.68

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STX

Seagate

$53.60

-0.2 (-0.37%)

03/08/13
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  • 30

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HUM

Humana

$264.13

-2.2 (-0.83%)

10:34
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  • 07

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EHTH

eHealth

$54.37

-1.61 (-2.88%)

10:29
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  • 24

    Oct

BHC

Bausch Health

$20.50

-0.12 (-0.58%)

10:25
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Bausch Health call volume above normal and directionally bullish »

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  • 04

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GNUS

Genius Brands

$0.83

0.06 (7.79%)

10:25
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  • 14

    Oct

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UBS technology analyst to hold an analyst/industry conference call »

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SDC

SmileDirectClub

$10.56

-0.54 (-4.86%)

10:20
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  • 12

    Nov

$NSD

NASDAQ Market Internals

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$NYE

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WLL

Whiting Petroleum

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PING

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, NVST

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DDOG

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BYND

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BE

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FAST

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, AMCX

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DAL

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TOL

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CGC

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HEXO

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NKE

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XLNX

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HPE

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LK

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NVST

Envista

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EHTH

eHealth

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10:01
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  • 24

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SAFM

Sanderson Farms

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