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SBBP

Strongbridge Biopharma

$4.21

-0.05 (-1.17%)

, NVO

Novo Nordisk

$45.32

-0.87 (-1.88%)

07:38
12/19/18
12/19
07:38
12/19/18
07:38

Strongbridge Biopharma closes Macrilen rights transaction with Novo Nordisk

Strongbridge Biopharma (SBBP) announced the closing of the transaction with Novo Nordisk (NVO) to transfer the rights to Macrilen in the United States and Canada. Strongbridge received a one-time upfront cash payment of $145M, of which a portion was used to fully repay outstanding debt. In addition, Novo Nordisk purchased 5.2M ordinary shares of Strongbridge at a purchase price of $7.00 per share, resulting in gross proceeds of $36.7M. Strongbridge will also be entitled to receive tiered royalties related to the sales of Macrilen through 2027. Novo Nordisk will fund Strongbridge's rare endocrine commercial field organization to promote Macrilen in the U.S. for up to three years.

SBBP

Strongbridge Biopharma

$4.21

-0.05 (-1.17%)

NVO

Novo Nordisk

$45.32

-0.87 (-1.88%)

  • 05

    Jan

SBBP Strongbridge Biopharma
$4.21

-0.05 (-1.17%)

12/18/18
LDLW
12/18/18
INITIATION
Target $11
LDLW
Buy
Strongbridge Biopharma initiated with a Buy at Laidlaw
Laidlaw analyst Francois Brisebois started Strongbridge Biopharma with a Buy rating and $11 price target, stating that he views the stock as undervalued at current levels given what he sees as "strong" PHASE 3 Recorlev data and the "impressive commercial potential" of Macrilen.
11/01/18
STFL
11/01/18
NO CHANGE
Target $15
STFL
Buy
Stifel says Strongbridge makes 'right move' to improve Recorlev clinical package
Stifel analyst Annabel Samimy acknowledged that Recorlev development timelines are pushed out by Strongbridge Biopharma (SBBP) expanding LOGICS to strengthen the clinical package. While this results in a three-quarter delay, with top-line now expected in the fourth quarter of 2019 and the launch expectation pushed out to 2021, he believes the company is ultimately making "the right move." He added that the sale of North American rights of Macrelin to Novo Nordisk (NVO) represents a 7.5x return in less than 2 years, but that was overshadowed by Q3 results that showed Keveyis adoption is "proving more challenging." Samimy keeps a Buy rating and $15 price target on Strongbridge Biopharma shares.
08/08/18
JANY
08/08/18
NO CHANGE
Target $16
JANY
Buy
Strongbridge price target raised to $16 from $13 at Janney Montgomery Scott
Janney Montgomery Scott analyst Esther Hong raised her fair value estimate on Strongbridge Biopharma to $16 after the company announced its Phase 3 SONICS study of recorlev in Cushing's syndrome achieved the primary endpoint of normalized UFC during a 6-month period without a dose increase. Hong, who believes recorlev's demonstration of a clinically meaningful impact on comorbidities and a more favorable liver-tolerability profile compared to ketoconazole will drive uptake, keeps a Buy rating on Strongbridge shares.
06/28/18
JANY
06/28/18
INITIATION
Target $13
JANY
Buy
Strongbridge Biopharma initiated with a Buy at Janney
Janney initiated Strongbridge Biopharma with a Buy and $13 price target.
NVO Novo Nordisk
$45.32

-0.87 (-1.88%)

12/11/18
JEFF
12/11/18
INITIATION
JEFF
Hold
Novo Nordisk assumed with a Hold at Jefferies
Jefferies analyst Peter Welford assumed coverage of Novo Nordisk with a Buy rating and DKK 285 price target. The analyst is positive on the European large-cap Pharma space "as it enters a period of sustained earnings momentum." He calls Novo his least preferred stock in the group.
11/26/18
PART
11/26/18
UPGRADE
PART
Buy
Novo Nordisk upgraded to Buy from Hold at Pareto
11/19/18
JPMS
11/19/18
UPGRADE
JPMS
Overweight
Novo Nordisk upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Richard Vosser upgraded Novo Nordisk to Overweight and raised his price target for the shares to 340 kroner from 290 kroner. The analyst sees the company's growth strengthening through 2019.

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JNJ

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LLY

Eli Lilly

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AZN

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BA

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BBIO

BridgeBio

$28.26

0.55 (1.98%)

, EIDX

Eidos Therapeutics

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CLBS

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Amgen

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CNI

Canadian National

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CELG

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  • 14

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DIS

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MDT

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BR

Broadridge

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