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NBIX

Neurocrine

$74.76

5.32 (7.66%)

, ABBV

AbbVie

$89.04

2.89 (3.35%)

18:54
01/06/19
01/06
18:54
01/06/19
18:54

Neurocrine expects Q4 net product sales of $130M

Neurocrine Biosciences (NBIX) provided an update on its business performance, including preliminary net product sales results for 2018, and key clinical development programs for 2019. Kevin Gorman, Chief Executive Officer of Neurocrine, will discuss these updates as part of a webcast presentation at the 37th Annual JPMorgan Healthcare Conference in San Francisco on Monday. Based on preliminary unaudited financial information, the Company expects net product sales for the three months and full-year ended December 31, 2018 to be approximately $130M and $409M, respectively, compared to $64.5M and $116.6M for the same periods in 2017. Regarding 2019 milestones, the company expects "Talk About TD" disease state awareness campaign; execution of post-marketing clinical studies, including RE-KINECT; presentations at key scientific annual meetings; elagolix in collaboration with AbbVie (ABBV); continued launch of ORILISSA to treat endometriosis by AbbVie; Elagolix for uterine fibroids: planned 2019 New Drug Application submission Opicapone for Parkinson's Disease; preparation for 2020 opicapone commercial launch; Phase IIa data for CAH - adults - in Q1 2019; Phase IIa initiation for CAH - pediatric - in Q2/Q3 2019; Pivotal study initiation for CAH - adults - in 2H 2019, pending Food and Drug Administration discussion in Q2; Investigational New Drug submission and initiation of a Phase I trial for a new, internally discovered program.

NBIX

Neurocrine

$74.76

5.32 (7.66%)

ABBV

AbbVie

$89.04

2.89 (3.35%)

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NBIX Neurocrine
$74.76

5.32 (7.66%)

12/13/18
ADAM
12/13/18
NO CHANGE
Target $100
ADAM
Buy
Neurocrine price target cut to $100 from $111 at Canaccord
Canaccord analyst Sumant Kulkarni maintained a Buy rating on Neurocrine but lowered his price target to $100 from $111 after the company announced that valbenazine did not meet its primary endpoint in a Phase 2b trial for pediatric Tourette syndrome. Though the analyst says he is disappointed by the outcome, he notes that Tourette remains a difficult challenge for drug developers and he had been "guardedly optimistic" going into this event based on the company's confidence around optimizing conditions such as dosing. The onus is now on Neurocrine to drive continued growth for valbenazine in its approved indication, tardive dyskinesia, he contends.
12/13/18
OPCO
12/13/18
NO CHANGE
Target $105
OPCO
Outperform
Neurocrine price target lowered to $105 from $140 at Oppenheimer
Oppenheimer analyst Jay Olson lowered his price target for Neurocrine to $105 from $140 after T-Force-GOLD missed the primary endpoint, sending the shares down on the loss of this important opportunity in Tourette syndrome. The analyst reiterates an Outperform rating on the shares.
12/13/18
LEER
12/13/18
NO CHANGE
Target $84
LEER
Market Perform
Neurocrine price target lowered to $84 from $110 at Leerink
Leerink analyst Marc Goodman lowered his price target for Neurocrine to $84 from $110, while reiterating a Market Perform rating on the shares. In Tourette syndrome, the analyst removed his sales forecasts due to the negative readout of T-Force GOLD and in Tardive dyskinesia, he adjusted his peak sales estimates from about $2.5B to $2.0B.
12/13/18
BARD
12/13/18
NO CHANGE
Target $96
BARD
Outperform
Neurocrine price target cut to $96 from $131 at Baird
Baird analyst Brian Skorney removed Neurocrine's Fresh Pick designation and reduced his price target to $96 from $131 after the company announced that valbenazine did not meet its primary endpoint in a Phase 2b trial for pediatric Tourette syndrome. The analyst, who maintains an Outperform rating, reduced his peak sales estimate for Ingrezza to $1.17B from $2.09B to account for the removal of the Tourette market opportunity.
ABBV AbbVie
$89.04

2.89 (3.35%)

12/26/18
STPT
12/26/18
INITIATION
STPT
Buy
AbbVie initiated with a Buy at Standpoint Research
Standpoint Research analyst Ronnie Moas initiated AbbVie with a Buy rating.
01/03/19
BOFA
01/03/19
DOWNGRADE
BOFA
Neutral
AbbVie downgraded to Neutral from Buy at BofA/Merrill
01/03/19
BOFA
01/03/19
DOWNGRADE
Target $95
BOFA
Neutral
AbbVie downgraded to Neutral from Buy at BofA/Merrill
As noted earlier, BofA/Merrill analyst Jason Gerberry downgraded AbbVie to Neutral from Buy and lowered his price target to $95 from $98 as part of his broader research note on the Phamaceuticals sector partially titled "Preference for value, defensive + pipeline optionality". The analyst sees "limited upside to shares" relative to his price objective and also cites a more "unfavorable macro backdrop for companies with high single product concentration risk". Gerber believes that AbbVie would have to "meaningfully beat consensus forecasts on key new product launches" to reduce investor concerns over the loss of exclusivity for Humira and Imbruvica.
01/03/19
01/03/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Apple (AAPL) downgraded to Hold from Buy at Jefferies and Loop Capital, as well as to Neutral from Outperform at Macquarie. 2. Genesee & Wyoming (GWR) downgraded to Equal Weight from Overweight at Stephens with analyst Justin Long citing his view that a re-expansion in valuation multiples could be more challenging in the near-term given North American volume headwinds in the short line network, unknowns around the PSR impact and more concerning international macro data points. 3. Lumber Liquidators (LL) downgraded to Hold from Buy at Loop Capital with analyst Laura Champine saying she reduced her margin forecast to reflect a promotional environment. 4. American Electric (AEP) downgraded to Neutral from Buy at Mizuho with analyst Paul Fremont citing valuation. 5. AbbVie (ABBV) downgraded to Neutral from Buy at BofA/Merrill with analyst Jason Gerberry saying he sees "limited upside to shares" relative to his price objective and also cites a more "unfavorable macro backdrop for companies with high single product concentration risk." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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ConocoPhillips

$65.69

-2.21 (-3.25%)

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ALPN

Alpine Immune Sciences

$5.79

(0.00%)

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LW

Lamb Weston

$70.75

-0.145 (-0.20%)

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KMB

Kimberly-Clark

$115.15

-1.675 (-1.43%)

, UTX

United Technologies

$111.23

-2.7 (-2.37%)

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KMB

Kimberly-Clark

$115.15

-1.675 (-1.43%)

UTX

United Technologies

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-2.7 (-2.37%)

ABT

Abbott

$71.56

0.13 (0.18%)

CMCSK

Comcast

$0.00

(0.00%)

CMCSA

Comcast

$35.16

-1.05 (-2.90%)

PG

Procter & Gamble

$90.50

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PGR

Progressive

$63.18

-1.24 (-1.92%)

APH

Amphenol

$81.06

-1.41 (-1.71%)

SYF

Synchrony

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0.27 (1.03%)

WAT

Waters

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-3.315 (-1.60%)

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TXRH

Texas Roadhouse

$66.00

-1 (-1.49%)

20:23
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UAL

United Continental

$83.34

-2.27 (-2.65%)

, JBLU

JetBlue

$17.36

-0.24 (-1.36%)

19:49
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Hot Stocks
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Newark International…

UAL

United Continental

$83.34

-2.27 (-2.65%)

JBLU

JetBlue

$17.36

-0.24 (-1.36%)

AAL

American Airlines

$32.75

-1.21 (-3.56%)

LUV

Southwest

$50.54

-1.04 (-2.02%)

DAL

Delta Air Lines

$47.10

-1 (-2.08%)

03/08/13
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PLL

Piedmont Lithium

$7.60

(0.00%)

19:35
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GSBC

Great Southern Bancorp

$49.85

-0.7 (-1.38%)

19:34
01/22/19
01/22
19:34
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19:34
Earnings
Great Southern Bancorp reports preliminary Q4 EPS $1.21, consensus $1.12 »

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BAYRY

Bayer

$0.00

(0.00%)

19:08
01/22/19
01/22
19:08
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19:08
Periodicals
Bayer requests that CA judge limit evidence in Roundup trial, Reuters says »

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BLK

BlackRock

$413.28

-6.01 (-1.43%)

19:07
01/22/19
01/22
19:07
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19:07
Hot Stocks
BlackRock CEO sells 30.8K shares of common stock »

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EHTH

eHealth

$45.38

-0.85 (-1.84%)

, ARAY

Accuray

$3.97

0.09 (2.32%)

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EHTH

eHealth

$45.38

-0.85 (-1.84%)

ARAY

Accuray

$3.97

0.09 (2.32%)

NAVI

Navient

$10.87

-0.05 (-0.46%)

IBM

IBM

$122.34

-1.49 (-1.20%)

CNMD

Conmed

$66.62

-0.03 (-0.05%)

PUMP

ProPetro Holding

$14.96

-0.49 (-3.17%)

AMTD

TD Ameritrade

$54.96

-0.38 (-0.69%)

TBNK

Territorial Bancorp

$26.90

-0.26 (-0.96%)

APHA

Aphria

$7.07

0.41 (6.16%)

TSE

Trinseo

$48.54

-2.78 (-5.42%)

COF

Capital One

$83.38

-1.62 (-1.91%)

QUOT

Quotient Technology

$10.99

-0.55 (-4.77%)

IBKR

Interactive Brokers

$51.92

-2.82 (-5.15%)

PTCT

PTC Therapeutics

$33.08

-1.245 (-3.63%)

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APHA

Aphria

$7.07

0.41 (6.16%)

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LOGI

Logitech

$33.69

0.24 (0.72%)

18:42
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Hot Stocks
Logitech CEO says 'we had a very strong quarter' »

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  • 22

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WBA

Walgreens Boots Alliance

$71.59

-0.81 (-1.12%)

18:39
01/22/19
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Periodicals
Walgreens to pay $269.2M to resolve U.S. fraud suits, Reuters reports »

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  • 25

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SMBC

Southern Missouri Bancorp

$32.22

-0.29 (-0.89%)

18:35
01/22/19
01/22
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18:35
Earnings
Southern Missouri Bancorp sees Q2 adjusted EPS 81c, consensus 72c »

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Z

Zillow

$31.41

-2.52 (-7.43%)

18:32
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VIA

Viacom

$32.44

-0.71 (-2.14%)

, VIAB

Viacom

$29.22

-0.87 (-2.89%)

18:25
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Hot Stocks
Viacom to acquire Pluto TV for $340M in cash »

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VIA

Viacom

$32.44

-0.71 (-2.14%)

VIAB

Viacom

$29.22

-0.87 (-2.89%)

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  • 05

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GOOG

Alphabet

$1,070.72

-27.53 (-2.51%)

, GOOGL

Alphabet Class A

$1,078.68

-28.24 (-2.55%)

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GOOG

Alphabet

$1,070.72

-27.53 (-2.51%)

GOOGL

Alphabet Class A

$1,078.68

-28.24 (-2.55%)

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    Mar

VIA

Viacom

$32.44

-0.71 (-2.14%)

, VIAB

Viacom

$29.22

-0.87 (-2.89%)

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Periodicals
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VIA

Viacom

$32.44

-0.71 (-2.14%)

VIAB

Viacom

$29.22

-0.87 (-2.89%)

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  • 05

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AZZ

AZZ Inc.

$45.09

-0.67 (-1.46%)

18:13
01/22/19
01/22
18:13
01/22/19
18:13
Earnings
AZZ Inc. sees FY20 EPS $2.25-$2.75, consensus $2.54 »

Sees FY20 revenue…

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TSLA

Tesla

$298.80

-3.46 (-1.14%)

18:13
01/22/19
01/22
18:13
01/22/19
18:13
Hot Stocks
Elon Musk says Tesla Sentry Mode 'coming soon' for cars with Enhanced Autopilot »

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  • 30

    Jan

NCOM

National Commerce

$39.07

-0.03 (-0.08%)

18:01
01/22/19
01/22
18:01
01/22/19
18:01
Earnings
National Commerce reports Q4 EPS 51c, consensus 68c »

Reports Q4 NII $43.9M,…

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IBM

IBM

$122.34

-1.49 (-1.20%)

18:01
01/22/19
01/22
18:01
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18:01
Hot Stocks
IBM says Red Hat acquisition will help accelerate leadership in hybrid cloud »

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UAL

United Continental

$83.34

-2.27 (-2.65%)

17:57
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01/22
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17:57
Periodicals
United Continental says FAA initiated ground stop for all Newark traffic 

Reported by Bloomberg.

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  • 04

    Mar

AQMS

Aqua Metals

$2.16

0.07 (3.35%)

17:55
01/22/19
01/22
17:55
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17:55
Hot Stocks
Aqua Metals director Shariq Yosufzai buys 10,000 shares of company stock »

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