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BMY

Bristol-Myers

$52.02

0.46 (0.89%)

, CELG

Celgene

$66.65

2.51 (3.91%)

08:15
01/03/19
01/03
08:15
01/03/19
08:15

Bristol-Myers says Celgene deal 'financially compelling on day one'

Bristol Myers (BMY) said on its conference call discussing the proposed acquisition of Celgene (CELG) that it sees six near-term product launches over next 12-24 months representing more than $15B in revenue potential. Says the deal is "financially compelling on day one." Says conducted "extensive" due diligence on Celgene's Revlimid, says feels "very good" about valuation.

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.

TODAY'S FREE FLY STORIES

TORC

resTORbio

$1.04

-6.89 (-86.89%)

13:11
11/15/19
11/15
13:11
11/15/19
13:11
Downgrade
resTORbio rating change  »

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IEFA

iShares Core MSCI EAFE ETF

$64.11

0.36 (0.56%)

, QQQ

Invesco QQQ Trust

$202.59

1.17 (0.58%)

13:10
11/15/19
11/15
13:10
11/15/19
13:10
Technical Analysis
On The Fly: ETF fund flow highlights »

For the prior week ETF…

IEFA

iShares Core MSCI EAFE ETF

$64.11

0.36 (0.56%)

QQQ

Invesco QQQ Trust

$202.59

1.17 (0.58%)

SPLV

Powershares S&P 500 Low Volatility Portfolio

$57.30

0.01 (0.02%)

XLU

Utilities SPDR

$62.63

-0.04 (-0.06%)

XLF

Financial Select Sector

$29.74

0.1 (0.34%)

IVV

iShares Core S&P 500

$313.08

1.77 (0.57%)

SPY

SPDR S&P 500 ETF Trust

$311.30

1.77 (0.57%)

LQD

iShares iBoxx $ Investment Grade Corporate Bond

$126.86

0.04 (0.03%)

HYG

iShares iBoxx $ High Yield Corporate Bond

$86.93

0.245 (0.28%)

TLT

iShares 20+ Year Treasury Bond Fund

$137.86

-0.03 (-0.02%)

VCIT

Vanguard Intermediate-Term Corporate Bond Index Fund

$91.03

0.015 (0.02%)

SPIB

SPDR Portfolio Intermediate Term Corporate Bond ETF

$35.19

-0.02 (-0.06%)

03/08/13
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13:06
11/15/19
11/15
13:06
11/15/19
13:06
General news
Baker-Hughes Rig Count N. Amer. data reported »

Week of 11/15…

USO

United States Oil Fund

$12.11

0.2 (1.68%)

, BKR

Baker Hughes

$22.73

0.85 (3.88%)

13:03
11/15/19
11/15
13:03
11/15/19
13:03
General news
Baker Hughes reports U.S. rig count down 11 to 806 rigs »

Baker Hughes reports that…

USO

United States Oil Fund

$12.11

0.2 (1.68%)

BKR

Baker Hughes

$22.73

0.85 (3.88%)

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CTRA

Contura Energy

$8.73

-0.65 (-6.93%)

13:01
11/15/19
11/15
13:01
11/15/19
13:01
Hot Stocks
Contura Energy announces partial idling of Cumberland mine »

Contura Energy announced…

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CLDR

Cloudera

$8.79

0.25 (2.93%)

12:55
11/15/19
11/15
12:55
11/15/19
12:55
Options
Cloudera put volume heavy and directionally bearish »

Bearish flow noted in…

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RHHBY

Roche

$0.00

(0.00%)

12:52
11/15/19
11/15
12:52
11/15/19
12:52
Hot Stocks
Roche to acquire Promedior in up to $1.4B deal »

Earlier, Promedior…

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  • 07

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12:50
11/15/19
11/15
12:50
11/15/19
12:50
Hot Stocks
Breaking Hot Stocks news story  »

TKK Symphony Acquisition…

CMCSK

Comcast

$0.00

(0.00%)

, CMCSA

Comcast

$44.58

-0.89 (-1.96%)

12:49
11/15/19
11/15
12:49
11/15/19
12:49
Hot Stocks
Hulu + Live TV price to increase to $54.99 per month from $44.99 per month »

Hulu announced that it is…

CMCSK

Comcast

$0.00

(0.00%)

CMCSA

Comcast

$44.58

-0.89 (-1.96%)

DIS

Disney

$145.45

-1.74 (-1.18%)

03/08/13
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  • 09

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12:45
11/15/19
11/15
12:45
11/15/19
12:45
General news
Breaking General news story  »

Week of 11/15…

BA

Boeing

$371.03

3.73 (1.02%)

, UAL

United Airlines

$92.97

0.43 (0.46%)

12:41
11/15/19
11/15
12:41
11/15/19
12:41
Hot Stocks
United Airlines pulls 737 Max jets off schedule until March 4 »

United Airlines (UAL) is…

BA

Boeing

$371.03

3.73 (1.02%)

UAL

United Airlines

$92.97

0.43 (0.46%)

03/08/13
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APDN

Applied DNA Sciences

$4.50

-0.38 (-7.79%)

12:38
11/15/19
11/15
12:38
11/15/19
12:38
Hot Stocks
Empery Asset Management reports 7.17% passive stake in Applied DNA Sciences »

In a regulatory filing,…

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12:35
11/15/19
11/15
12:35
11/15/19
12:35
Hot Stocks
Breaking Hot Stocks news story  »

TKK Symphony Acquisition…

TSLA

Tesla

$349.70

0.19 (0.05%)

, VWAGY

Volkswagen

$0.00

(0.00%)

12:25
11/15/19
11/15
12:25
11/15/19
12:25
Periodicals
VW CEO says company has no plans to cooperate with Tesla, Reuters reports »

Volkswagen (VWAGY) CEO…

TSLA

Tesla

$349.70

0.19 (0.05%)

VWAGY

Volkswagen

$0.00

(0.00%)

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TLRD

Tailored Brands

$5.17

0.03 (0.58%)

12:25
11/15/19
11/15
12:25
11/15/19
12:25
Options
Tailored Brands call volume above normal and directionally bullish »

Bullish option flow…

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  • 11

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NVDA

Nvidia

$206.25

-3.63 (-1.73%)

, AMZN

Amazon.com

$1,750.30

-4.41 (-0.25%)

12:23
11/15/19
11/15
12:23
11/15/19
12:23
On The Fly
Fly Intel: Wall Street's top stories at midday »

Stocks have been higher…

NVDA

Nvidia

$206.25

-3.63 (-1.73%)

AMZN

Amazon.com

$1,750.30

-4.41 (-0.25%)

MSFT

Microsoft

$149.59

1.53 (1.03%)

UAA

Under Armour

$17.82

0.69 (4.03%)

UA

Under Armour

$16.04

0.48 (3.08%)

AMRN

Amarin

$22.89

1.4 (6.51%)

RH

RH

$188.04

12.85 (7.33%)

BRK.A

Berkshire Hathaway

$329,640.00

545 (0.17%)

BRK.B

Berkshire Hathaway

$219.62

0.26 (0.12%)

FTCH

Farfetch

$9.69

2.2 (29.37%)

AMAT

Applied Materials

$62.33

5.44 (9.56%)

ACB

Aurora Cannabis

$3.00

-0.29 (-8.81%)

OXY

Occidental Petroleum

$38.90

1.14 (3.02%)

TORC

resTORbio

$1.16

-6.77 (-85.37%)

03/08/13
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    Dec

  • 06

    Jan

TORC

resTORbio

$1.14

-6.79 (-85.62%)

12:21
11/15/19
11/15
12:21
11/15/19
12:21
Downgrade
resTORbio rating change  »

resTORbio downgraded to…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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WE

We Company

$0.00

(0.00%)

12:18
11/15/19
11/15
12:18
11/15/19
12:18
Periodicals
We Company facing SEC probe into possible rule breaches, Bloomberg says »

We Company's WeWork…

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FCBP

First Choice Bank

$22.49

-0.01 (-0.04%)

12:17
11/15/19
11/15
12:17
11/15/19
12:17
Hot Stocks
First Choice Bancorp announces resignation of CFO Lynn Hopkins »

First Choice Bancorp…

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AXP

American Express

$120.92

-0.03 (-0.02%)

12:17
11/15/19
11/15
12:17
11/15/19
12:17
Hot Stocks
AmEx reports October consumer card write-off rate 2.3% vs. 2.0% last month »

American Express reports…

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  • 06

    Dec

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
11/15/19
11/15
12:17
11/15/19
12:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

03/08/13
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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
11/15/19
11/15
12:16
11/15/19
12:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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AMGN

Amgen

$219.62

1.07 (0.49%)

12:10
11/15/19
11/15
12:10
11/15/19
12:10
Hot Stocks
Amgen treatment of multiple myeloma granted FDA orphan designation »

Amgen's treatment of…

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  • 07

    Dec

AXGT

Axovant

$4.71

-0.05 (-1.05%)

12:07
11/15/19
11/15
12:07
11/15/19
12:07
Hot Stocks
Axovant granted FDA orphan designation for treatment of GM1 gangliosidosis »

Axovant Sciences was…

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LYFT

Lyft

$43.75

1.85 (4.42%)

, FB

Facebook

$194.64

1.49 (0.77%)

12:05
11/15/19
11/15
12:05
11/15/19
12:05
Recommendations
Lyft, Facebook, Amazon.com, Netflix, Twitter, IAC analyst commentary  »

JPMorgan adds Lyft to…

LYFT

Lyft

$43.75

1.85 (4.42%)

FB

Facebook

$194.64

1.49 (0.77%)

AMZN

Amazon.com

$1,747.79

-6.92 (-0.39%)

NFLX

Netflix

$293.25

3.57 (1.23%)

TWTR

Twitter

$29.38

0.49 (1.70%)

IAC

IAC

$223.02

2.85 (1.29%)

03/08/13
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03/06/13
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03/06/13
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