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BMY

Bristol-Myers

$52.02

0.46 (0.89%)

, CELG

Celgene

$66.65

2.51 (3.91%)

07:07
01/03/19
01/03
07:07
01/03/19
07:07

Bristol-Myers says deal valued at $102.43 per Celgene share

BMY

Bristol-Myers

$52.02

0.46 (0.89%)

CELG

Celgene

$66.65

2.51 (3.91%)

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BMY Bristol-Myers
$52.02

0.46 (0.89%)

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.
12/06/18
12/06/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Activision Blizzard (ATVI) upgraded to Overweight from Neutral at JPMorgan with analyst Alexia Quadrani saying the stock is down 45% from an all-time high in early October, and now trades at 16.5 times forward consensus earnings, compared to 25.5 times and 23.0 times on average over the prior one and three year periods. 2. Bristol-Myers (BMY) upgraded to Outperform from Market Perform at BMO Capital with analyst Alex Arfaei saying the risk-reward on the stock at current price "seems attractive." 3. Hostess Brands (TWNK) upgraded to Overweight from Neutral at JPMorgan analyst Ken Goldman saying by this time next year, today's two major headwinds - lost business with Walmart (WMT) and the "EBITDA-hemorrhaging" Cloverhill acquisition - will be lapped and potentially become tailwinds. 4. Spirit Airlines (SAVE) upgraded to Outperform from Neutral at with analyst Jose Caiado De Sousa saying after a "massive" Q4 unit revenue guidance boost last week, the analyst sees further upside in the equity into H1 of 2019, with expected continued momentum in non-ticket revenue production amid a lower oil environment and a benign competitive backdrop. 5. Synopsys (SNPS) upgraded to Buy from Hold at Benchmark with analyst Gary Mobley citing slightly better than expected Q4 results and in-line FY19 guidance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/06/18
JPMS
12/06/18
NO CHANGE
Target $70
JPMS
Overweight
JPMorgan still sees path to substantial Opdivo growth despite Bristol's setbacks
JPMorgan analyst Chris Schott said that investors are clearly concerned about Opdivo growth following several recent setbacks for Bristol-Myers, including mixed TMB data, pending RCC competition, and a failed SCLC study, but he still sees a path to substantial growth for the drug based on the numerous important readouts in both lung and non-lung indications coming in the next 12 months. Meanwhile, his analysis suggests Bristol-Myers' share price reflects little, if any, Opdivo growth from current levels. Given his view, and its convergence with what he believes to be the consensus view, on Opdivo, Schott sees the long term risk/reward for Bristol shares as highly attractive and keeps an Overweight rating on the stock with a $70 price target.
12/06/18
BMOC
12/06/18
UPGRADE
Target $60
BMOC
Outperform
Bristol-Myers upgraded to Outperform at BMO Capital on better Opdivo sales
As reported earlier, BMO Capital analyst Alex Arfaei upgraded Bristol-Myers to Outperform from Market Perform and raised his price target to $60 from $56, saying the risk-reward on the stock at current price "seems attractive". The analyst notes that a number of R&D setbacks have reduced expectations for the company's immuno-oncology franchise, raising his forecasts on Opdivo to reflect the "low" street consensus. Arfaei adds that the Street is modeling flattish gross margins, but his forecast calls for a 2% improvement by 2021 with Opdivo revenue expectations coming about 10%-15% above consensus. The analyst also raises his FY19 EPS view to $4.18 from $3.93 to reflect the more optimistic Opdivo targets.
CELG Celgene
$66.65

2.51 (3.91%)

12/21/18
BTIG
12/21/18
INITIATION
BTIG
Neutral
Celgene assumed with a Neutral at BTIG
BTIG analyst Thomas Shrader last night assumed coverage of Celgene with a Neutral rating. Revlimid will face full generic competition in 2026 and possibly sooner, Shrader tells investors in a research note. He adds that while Celgene has been building a pipeline, he believes only luspatercept and Otezla have a high chance of blockbuster potential.
12/20/18
BTIG
12/20/18
INITIATION
BTIG
Neutral
Celgene resumed with a Neutral rating at BTIG
12/03/18
PIPR
12/03/18
NO CHANGE
PIPR
Overweight
Regeneron's REGN1979 'best in show' thus far at ASH, says Piper Jaffray
Piper Jaffray analyst Christopher Raymond calls Regeneron Pharmaceuticals' (REGN) REGN1979 the "best in show" thus far at this year's American Society of Hematology meeting. The analyst says this weekend's updates were largely consistent with his expectations except for the "overwhelmingly impressive data" from REGN1979 in relapsed or refractory follicular lymphoma. This asset could serve as a "significant value driver" for Regeneron shares and the stock is likely to be up sharply today, Raymond tells investors in a research note. He adds that REGN1979 is currently not in his Regeneron model. Following the weekend's updates the analyst keeps Overweight ratings on BioMarin (BMRN) and Regeneron and a Neutral rating on Celgene (CELG).
11/28/18
GSCO
11/28/18
NO CHANGE
Target $284
GSCO
Buy
Goldman Sachs sees Bluebird Bio as 'compelling' buy for ASH, 2019
Goldman Sachs analyst Salveen Richter notes that at the American Society of Hematology meeting, Bluebird Bio (BLUE) will present data across its pipeline, with the key focus on Bluebird Bio/Celgene's (CELG) lead value driver CAR-T bb2121 in r/r MM which he expects will maintain its first-mover advantage and potentially best-in-class status in the context of BCMA competitors. Additionally, Richter notes that Bluebird Bio's recent pull back has created an attractive entry point to buy ahead of ASH and into a compelling de-risked genomic medicine company positioned to capitalize on its multi-modality approach to drug discovery to support the next leg of the story as he looks to the unveiling of new programs in 2019-plus and three likely drug approvals in 2019/2020 with additional launches post. He reiterates a Buy rating and $284 price target on Bluebird Bio shares.

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