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FATE

Fate Therapeutics

$13.52

0.7 (5.46%)

, BMY

Bristol-Myers

$52.02

0.46 (0.89%)

09:10
01/03/19
01/03
09:10
01/03/19
09:10

Bristol acquisition of Celgene a positive for Fate, says Piper Jaffray

Piper Jaffray analyst Edward Tenthoff believes Bristol-Myers Squibb's (BMY) agreement to acquire Celgene (CELG) is in part driven by the long-term potential of cellular therapies to treat cancer. The analyst sees the deal announced this morning as a positive for Fate Therapeutics (FATE), which he notes is developing a pipeline of allogeneic and induced pluripotent stem cell natural killer and T-cell therapies. Fate is a potential acquisition target for its "rich cell therapy pipeline and platform," Tenthoff tells investors in a research note. Fate remains a top pick for Piper in 2019 and the analyst reiterates an Overweight rating on the shares with a $23 price target.

FATE

Fate Therapeutics

$13.52

0.7 (5.46%)

BMY

Bristol-Myers

$52.02

0.46 (0.89%)

CELG

Celgene

$66.65

2.51 (3.91%)

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FATE Fate Therapeutics
$13.52

0.7 (5.46%)

01/02/19
PIPR
01/02/19
NO CHANGE
Target $23
PIPR
Overweight
Fate Therapeutics named a 2019 top pick at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff said Fate Therapeutics remains a top pick into 2019 and he reiterated his Overweight rating and $23 price target on the stock, stating that he is "most excited" about Fate's "disruptive" pipeline of 10 iNK and iT cell induced Pluripotent Stem Cell candidates. The FDA accepted the IND for Fate's first iNK candidate and he expects initial FT500 data this year to validate Fate's broader iPSC platform, Tenthoff added.
11/11/18
PIPR
11/11/18
NO CHANGE
Target $23
PIPR
Overweight
Fate Therapeutics' NK100 update at SITC 'encouraging,' says Piper Jaffray
Piper Jaffray analyst Edward Tenthoff notes that Fate Therapeutics updated Phase I NK100 data and provided new details on iPSC platform expansion at SITC. NK100 activity was observed in 7/14 AML, ovarian cancer and solid tumor patients, with seven patients receiving two infusions with NK100 cell persistence through Day 21 without compromised cytotoxicity or viability, he added, highlighting that NK100 is safe with no cytokine release syndrome or neurotoxicity even after multiple doses. Tenthoff is most excited for Fate's transformative iPSC platform enabling unprecedented scalable and homogeneous manufacturing. As expected, Fate found no adventitious agents and expects the first-ever IND on iPSC-derived Natural Killer cell therapy FT500 to clear by year-end 2018, he contends. Tenthoff adds that the company is developing a pipeline of iPSC cell therapies and will file an IND on FT516 by year-end 2018. He reiterates an Overweight rating and $23 price target on the shares.
11/05/18
JEFF
11/05/18
INITIATION
Target $17
JEFF
Buy
Fate Therapeutics initiated with a Buy at Jefferies
Jefferies analyst Biren Amin started Fate Therapeutics with a Buy rating and $17 price target. Natural killer cells possess advantageous cytotoxic properties distinct from T cells, and have demonstrated clinical efficacy against select cancer types, Amin tells investors in a research note. The analyst says Fate "offers a unique and potentially disruptive approach."
09/25/18
PIPR
09/25/18
NO CHANGE
Target $23
PIPR
Overweight
Fate Therapeutics price target lowered to $23 from $25 at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff lowered his price target for Fate Therapeutics to $23 to account for dilution from the equity issuance. He estimates Fate now holds proforma cash of $223M to advance and expand its clinical pipeline of off-the-shelf Natural Killer cell and CAR-T therapies. The analyst reiterates an Overweight rating on the shares.
BMY Bristol-Myers
$52.02

0.46 (0.89%)

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.
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.
12/11/18
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
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.
CELG Celgene
$66.65

2.51 (3.91%)

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).
12/20/18
BTIG
12/20/18
INITIATION
BTIG
Neutral
Celgene resumed with a Neutral rating at BTIG
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.
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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$NYE

NYSE Market Internals

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JNJ

Johnson & Johnson

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EA

Electronic Arts

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Tesla

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Daimler AG

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Fiat Chrysler

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Volkswagen

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Mondelez

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COLM

Columbia Sportswear

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Conference/Events
Columbia Sportswear participates in a conference call with Wedbush »

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NVS

Novartis

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ALNA

Allena Pharmaceuticals

$1.61

-0.03 (-1.83%)

14:39
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14:39
Conference/Events
Wedbush emerging pharma analyst to hold an analyst/industry conference call »

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HCA

HCA Healthcare

$138.00

3.53 (2.63%)

, CYH

Community Health

$2.95

0.075 (2.61%)

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$138.00

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Community Health

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LPNT

LifePoint

$0.00

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UHS

Universal Health

$142.53

1.36 (0.96%)

THC

Tenet

$29.91

0.44 (1.49%)

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AMRN

Amarin

$23.69

2.2 (10.24%)

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Viacom

$26.63

1.32 (5.22%)

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Viacom

$23.20

0.72 (3.20%)

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$26.63

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Fox Corp.

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FOXA

Fox Corp.

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AT&T

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0.315 (0.81%)

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Disney

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Comcast

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Comcast

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Lionsgate

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Lionsgate

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Sony

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AZN

AstraZeneca

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Treasury Action: Treasuries remain slightly weaker »

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GOOG

Alphabet

$1,328.60

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Alphabet Class A

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ORCL

Oracle

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Amazon.com

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John Lynch leaving Amazon Studios, Variety reports »

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EW

Edwards Lifesciences

$243.22

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Edwards Lifesciences analyst commentary  »

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GOOG

Alphabet

$1,326.95

14.76 (1.12%)

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Alphabet Class A

$1,325.85

16.06 (1.23%)

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$1,326.95

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Alphabet Class A

$1,325.85

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EW

Edwards Lifesciences

$244.30

3.9 (1.62%)

13:39
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Edwards recalling Pascal guide sheaths, Mass Device reports »

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JNJ

Johnson & Johnson

$132.78

1.8 (1.37%)

, LLY

Eli Lilly

$113.74

2.36 (2.12%)

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Trump Administration announces 'historic' healthcare price transparency rules »

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LLY

Eli Lilly

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MRK

Merck

$85.25

0.69 (0.82%)

PFE

Pfizer

$37.35

0.8 (2.19%)

SNY

Sanofi

$45.90

0.91 (2.02%)

AZN

AstraZeneca

$47.19

-0.18 (-0.38%)

GSK

GlaxoSmithKline

$43.93

0.08 (0.18%)

NVS

Novartis

$89.75

0.23 (0.26%)

RHHBY

Roche

$0.00

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BMY

Bristol-Myers

$58.56

0.06 (0.10%)

CI

Cigna

$190.19

0.52 (0.27%)

CNC

Centene

$54.98

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CVS

CVS Health

$73.41

0.48 (0.66%)

HUM

Humana

$323.19

5.24 (1.65%)

UNH

UnitedHealth

$258.89

3.13 (1.22%)

WCG

WellCare

$303.56

1.705 (0.56%)

HNT

Health Net

$0.00

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MOH

Molina Healthcare

$126.41

4.11 (3.36%)

ANTM

Anthem

$282.36

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$NSD

NASDAQ Market Internals

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