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DRNA

Dicerna

$11.06

-0.77 (-6.51%)

, LLY

Eli Lilly

$106.56

-1.8 (-1.66%)

07:33
12/19/18
12/19
07:33
12/19/18
07:33

Dicerna and Eli Lilly close global licensing and research collaboration

Dicerna (DRNA) announced the closing of the global licensing and research collaboration between Dicerna and Eli Lilly (LLY) following clearance under the HSR Act. The companies entered into a global licensing and research collaboration focused on the discovery, development and commercialization of potential new medicines in the areas of cardio-metabolic disease, neurodegeneration and pain. The companies will utilize Dicerna's proprietary GalXC RNAi technology platform to progress new drug targets toward clinical development and commercialization. In addition, the partners will collaborate to move beyond the current technical paradigm in order to generate next-generation oligonucleotide therapeutic agents. Dicerna will receive an upfront payment of $100M, as well as an equity investment of $100M at a premium. Dicerna is also eligible to receive up to approximately $350M per target in development and commercialization milestones, as well as tiered royalties ranging from the mid-single to low-double digits on product sales. The two companies anticipate collaborating on more than 10 targets.

DRNA

Dicerna

$11.06

-0.77 (-6.51%)

LLY

Eli Lilly

$106.56

-1.8 (-1.66%)

  • 19

    Dec

DRNA Dicerna
$11.06

-0.77 (-6.51%)

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.
11/27/18
LEER
11/27/18
INITIATION
Target $24
LEER
Outperform
Dicerna initiated with an Outperform at Leerink
Leerink analyst Mani Foroohar initiated Dicerna with an Outperform rating and a price target of $24.
11/06/18
RILY
11/06/18
UPGRADE
Target $21
RILY
Buy
Dicerna upgraded to Buy from Neutral at B. Riley FBR
B. Riley FBR analyst Madhu Kumar upgraded Dicerna Pharmaceuticals to Buy and raised his price target for the shares to $21 from $13.50 following last night's Q3 results. The analyst says Dicerna's "strong" balance sheet supports its "broad" RNAi platform.
10/31/18
HCWC
10/31/18
NO CHANGE
Target $24
HCWC
Buy
Dicerna price target raised to $24 after Lilly, Alexion pacts at H.C. Wainwright
H.C. Wainwright analyst Ed Arce raised his price target on Dicerna (DRNA) shares to $24 from $20 after the company announced collaborations with Eli Lilly (LLY) and Alexion Pharmaceuticals (ALXN). Arce views these partnerships as further strong validation of Dicerna's GalXC RNAi platform and keeps a Buy rating on the shares.
LLY Eli Lilly
$106.56

-1.8 (-1.66%)

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.
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
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.
11/19/18
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).

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12:50
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