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BMY

Bristol-Myers

$48.33

-1.59 (-3.19%)

, CELG

Celgene

$85.18

-1.32 (-1.53%)

09:50
01/24/19
01/24
09:50
01/24/19
09:50

CNBC's Faber heard 'nothing' about potential Bristol-Myers suitor

CNBC's David Faber says he's heard "nothing" about a potential suitor showing interest in acquiring Bristol-Myers Squibb (BMY) as well as a possible activist getting involved. Faber attributes these concerns for Celgene (CELG) trading at a wide deal spread.

BMY

Bristol-Myers

$48.33

-1.59 (-3.19%)

CELG

Celgene

$85.18

-1.32 (-1.53%)

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    May

BMY Bristol-Myers
$48.33

-1.59 (-3.19%)

01/23/19
MZHO
01/23/19
NO CHANGE
Target $81
MZHO
Buy
Mizuho sees 'significant upside' in Nektar shares, reiterates $81 price target
While shares of Nektar Therapeutics (NKTR) have performed strongly year-to-date, "significant upside remains," Mizuho analyst Difei Yang tells investors in a research note. A recent Nature article on IL-2 immunotherapy and new players in the field provide support for Nektar's approach to immuno-oncology, says Yang. Further, she believes the company's collaborations with large pharma, including Bristol-Myers Squibb (BMY) and Pfizer, underscore the "strong potential" of NKTR-214. With multiple data readouts expected in 2019, Yang sees "significant value" in Nektar shares. She reiterates a Buy rating on the name with an $81 price target. The stock closed yesterday down 3% to $44.76.
01/22/19
JEFF
01/22/19
NO CHANGE
Target $95
JEFF
Buy
Jefferies does not see possible Bristol-Myers suitor thwarting Celgene deal
Jefferies analyst Michael Yee says that while shares of Bristol-Myers Squibb (BMY) have rallied over the past two weeks, Celgene (CELG) shares are roughly flat, putting the deal spread back to 18%-20%. Celgene has been flat as investors are unsure what will happen with some near-term event volatility, including the inter partes review decision on patents related to methods of use and dosing for Revlimid and the Bristol shareholder vote in the summer, Yee tells investors in a research note. The analyst, however, sees a suitor emerging for Bristol-Myers as the biggest risk to the Celegene buyout. But he does not see an unsolicited suitor coming in to thwart the $74B deal for Celgene. As such, he believes current share levels provide investors an attractive 18%-20% return over the near- to mid-term. Yee keeps a Buy rating on Celgene with a $95 price target.
01/15/19
01/15/19
UPGRADE
Target $60

Buy
Societe General applauds Bristol-Myers' 'bold' deal, double upgrades to Buy
As previously reported, Societe Generale analyst Justin Smith double upgraded Bristol-Myers (BMY) to Buy from Sell as he believes investors' concerns about how the acquisition of Celgene (CELG) could weaken its long-term growth profile are adequately discounted at the stock's current levels. He also applauds management for making "such a bold strategic move," contending that improved cash flow and a higher R&D budget for the combined company should help it navigate past medium-term patent expirations while simultaneously growing the dividend. He assigns an 80% probability of the acquisition closing, but "cannot dismiss the risk of counter-bids on either side of this deal," Smith added. He raised his price target on Bristol-Myers shares to $60 from $47.
01/15/19
SOCG
01/15/19
UPGRADE
SOCG
Buy
Bristol-Myers upgraded to Buy from Sell at Societe Generale
CELG Celgene
$85.18

-1.32 (-1.53%)

01/04/19
01/04/19
DOWNGRADE

Outperform
BeiGene downgraded to Outperform at CLSA as Celgene goes 'from friend to foe'
As previously reported, CLSA analyst David Li downgraded BeiGene to Outperform from Buy following the news yesterday of Bristol-Myers' (BMY) proposed acquisition of Celgene (CELG) in a note titled "From friend to foe." He thinks Celgene is unlikely to continue to cooperate with BeiGene on its PD-1 after the deal goes through and also worries about the three commercialized products licensed from Celgene and about the company selling out of its BeiGene stake, he tells investors. He lowered his price target on BeiGene shares to HK$89.86 from HK$121.34.
01/04/19
BARD
01/04/19
UPGRADE
Target $92
BARD
Outperform
Baird upgrades Celgene to Outperform, says deal discount looks high
As reported previously, Baird analyst Brian Skorney upgraded Celgene (CELG) to Outperform from Neutral. The analyst believes the current price discount to the Bristol-Myers (BMY) deal price does not makes sense based on the probability of the deal closing in the high $90's. He attributes a 35-40% probability of the deal falling through, but he is more bullish on the deal as management is now shown to be willing sellers. Skorney has a $92 price target on Celgene shares, which are up about 2% in pre-market trading to $82 per share.

TODAY'S FREE FLY STORIES

FOX

21st Century Fox

$51.06

-0.64 (-1.24%)

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$51.38

-0.57 (-1.10%)

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DIS

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XYF

X Financial

$6.23

0.715 (12.98%)

17:23
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CADE

Cadence Bancorp

$20.24

0.51 (2.58%)

17:22
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Cadence Bancorp President Samuel Tortorici buys almost $1M in company shares »

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  • 02

    May

CELP

Cypress Energy

$7.41

0.06 (0.82%)

17:22
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Syndicate
Breaking Syndicate news story on Cypress Energy »

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  • 18

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JWN

Nordstrom

$44.21

0.465 (1.06%)

17:21
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Syndicate
Breaking Syndicate news story on Nordstrom »

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GD

General Dynamics

$171.73

2.13 (1.26%)

17:20
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General Dynamics awarded $2.04B Navy submarine material contract modification »

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    May

FFIN

First Financial

$61.60

0.44 (0.72%)

, MBFI

MB Financial

$47.20

0.63 (1.35%)

17:19
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Hot Stocks
S&P announces changes to S&P MidCap 400, S&P SmallCap 600 indices »

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FFIN

First Financial

$61.60

0.44 (0.72%)

MBFI

MB Financial

$47.20

0.63 (1.35%)

FOE

Ferro

$18.88

0.125 (0.67%)

FITB

Fifth Third

$28.74

0.42 (1.48%)

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FOE

Ferro

$18.88

0.125 (0.67%)

, FFIN

First Financial

$61.60

0.44 (0.72%)

17:17
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Hot Stocks
Breaking Hot Stocks news story on Ferro, First Financial »

Ferro to replace First…

FOE

Ferro

$18.88

0.125 (0.67%)

FFIN

First Financial

$61.60

0.44 (0.72%)

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  • 23

    Apr

FFIN

First Financial

$61.60

0.44 (0.72%)

, MBFI

MB Financial

$47.20

0.63 (1.35%)

17:17
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Hot Stocks
First Financial to replace MB Financial in S&P 400 at open on 3/22 »

Fifth Third Bancorp…

FFIN

First Financial

$61.60

0.44 (0.72%)

MBFI

MB Financial

$47.20

0.63 (1.35%)

FITB

Fifth Third

$28.74

0.42 (1.48%)

03/08/13
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CUTR

Cutera

$18.00

-0.29 (-1.59%)

17:13
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Hot Stocks
Cutera director Daniel Plants buys almost $1.5M in company shares »

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  • 28

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SMTX

SMTC Corp.

$4.41

-0.1 (-2.22%)

17:13
03/18/19
03/18
17:13
03/18/19
17:13
Syndicate
Breaking Syndicate news story on SMTC Corp. »

SMTC Corp. files $50M…

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SNE

Sony

$46.10

-0.16 (-0.35%)

, AAPL

Apple

$188.03

1.83 (0.98%)

17:09
03/18/19
03/18
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Periodicals
PlayStation Vue now lets Apple TV users watch four channels at once, Verge says »

According to the…

SNE

Sony

$46.10

-0.16 (-0.35%)

AAPL

Apple

$188.03

1.83 (0.98%)

03/08/13
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VRRM

Verra Mobility

$10.89

0.15 (1.40%)

17:08
03/18/19
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Earnings
Verra Mobility reports Q4 net ($38.0M) vs. ($29.2M) last year »

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  • 18

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EQH

AXA Equitable

$20.86

0.09 (0.43%)

17:06
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17:06
Syndicate
AXA Equitable files to sell 40M shares of common stock for holders »

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DIS

Disney

$113.07

-1.89 (-1.64%)

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  • 11

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STML

Stemline

$12.92

-0.71 (-5.21%)

17:02
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Recommendations
Stemline analyst commentary at Piper Jaffray »

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REV

Revlon

$19.39

0.42 (2.21%)

17:02
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Revlon down 15% after Q4 results miss estimates »

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  • 18

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ATR

AptarGroup

$103.69

0.75 (0.73%)

17:01
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XELA

Exela Technologies

$3.82

-0.03 (-0.78%)

16:57
03/18/19
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Earnings
Exela Technologies sees FY19 revenue $1.66B-$1.7B, consensus $1.68B »

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  • 18

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XELA

Exela Technologies

$3.82

-0.03 (-0.78%)

16:56
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Earnings
Exela Technologies reports Q4 revenue $399.6M, consensus $401.4M »

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  • 18

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BIO

Bio-Rad

$313.64

3.58 (1.15%)

16:55
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Bio-Rad extends 10-K filing by 15 days to complete year-end procedures »

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AERI

Aerie Pharmaceuticals

$47.09

0.09 (0.19%)

16:55
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Conference/Events
Aerie Pharmaceuticals management to meet with JMP Securities »

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NOMD

Nomad Foods

$21.45

-0.07 (-0.33%)

16:54
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Syndicate
Nomad Foods files to sell 20M ordinary shares »

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FIS

FIS

$108.14

-0.73 (-0.67%)

, WP

Worldpay

$108.52

9.8 (9.93%)

16:54
03/18/19
03/18
16:54
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16:54
Conference/Events
FIS management to meet with Wolfe Research »

Senior Payments & IT…

FIS

FIS

$108.14

-0.73 (-0.67%)

WP

Worldpay

$108.52

9.8 (9.93%)

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ORN

Orion Group

$4.23

0.145 (3.55%)

16:52
03/18/19
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16:52
Hot Stocks
Orion Group delays filing of Form 10-K »

Orion Group Holdings said…

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