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ELAN

Elanco

$29.51

0.49 (1.69%)

, LLY

Eli Lilly

$117.49

-1.7 (-1.43%)

07:54
02/08/19
02/08
07:54
02/08/19
07:54

Elanco to file S-4 Registration Statement in connection with Lilly divestiture

Elanco Animal Health (ELAN), formerly the animal health business of Eli Lilly and Company (LLY), announced it intends to file a Form S-4 Registration Statement with the Securities and Exchange Commission in connection with Lilly's proposed exchange offer whereby Lilly shareholders can exchange shares of Lilly common stock for shares of Elanco common stock owned by Lilly. The exchange offer is anticipated to be tax-free for participating Lilly shareholders in the United States, except with respect to cash received in lieu of fractional shares. The exchange offer is voluntary for Lilly shareholders. No action is necessary for Lilly shareholders that choose not to participate, who retain their existing shares.

ELAN

Elanco

$29.51

0.49 (1.69%)

LLY

Eli Lilly

$117.49

-1.7 (-1.43%)

  • 18

    May

ELAN Elanco
$29.51

0.49 (1.69%)

01/23/19
UBSW
01/23/19
INITIATION
Target $29
UBSW
Sell
Elanco initiated with a Sell at UBS
UBS analyst Navin Jacob started Elanco Animal Health with a Sell rating and $29 price target. The company has solid fundamentals, but the stock price and long-term consensus estimates are "too far ahead" of what survey work suggests, Jacob tells investors in a research note.
01/15/19
01/15/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. StoneCo (STNE) initiated with a Buy at BofA/Merrill. 2. Southwest Gas (SWX) initiated with a Market Perform at Wells Fargo. 3. Luna Innovations (LUNA) initiated with a Buy at B. Riley FBR. 4. Dell Technologies (DELL) initiated with a Neutral at UBS. 5. Elanco (ELAN) initiated with a Buy at Argus. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
01/15/19
ARGS
01/15/19
INITIATION
Target $37
ARGS
Buy
Elanco initiated with a Buy at Argus
Elanco analyst Jasper Hellweg initiated Elanco with a Buy rating and a price target of $37. The analyst cites the company's record of consistent growth through a "three-pillar strategy" of portfolio development, innovation, and productivity improvements. Hellweg is also positive on Elanco's continued cost reduction efforts and its strong pipeline for the next 1-4 years that could lead to a launch of as many as 36 new products. While the analyst warns that Elanco may see some "initial growing pains as a standalone public company" but also expects it to generate strong earnings growth over time.
12/19/18
BMOC
12/19/18
NO CHANGE
Target $32
BMOC
Market Perform
Elanco price target lowered to $32 from $37 at BMO Capital
BMO Capital analyst Alex Arfaei lowered his price target on Elanco (ELAN) to $32 and kept his Market Perform rating, saying its FY19 guidance was "modestly below" his expectations and that he doubts that the management is being conservative. The analyst also cites "significant uncertainties" in 2020 related to competitor's products and the company's R&D productivity, also lowering his FY19 EPS view to $1.13 from $1.22. Arfaei believes that the market valuation on Elanco similar to Zoetis (ZTS) is "premature" based on the "important differences in revenue growth potential, product mix, and execution track record" of the two companies.
LLY Eli Lilly
$117.49

-1.7 (-1.43%)

01/25/19
PIPR
01/25/19
NO CHANGE
PIPR
Report that CVS excluded Amgen's Aimovig 'greatly exaggerated,' says Piper
Piper Jaffray analyst Christopher Raymond kept an Overweight rating and $220 price target on Amgen (AMGN) following a Reuters report from earlier on Friday which stated that CVS (CVS) has excluded Amgen's Aimovig from its formulary. The analyst called the report "Friday afternoon clickbait" and noted that while CVS currently provides preferred status to Teva's (TEVA) Ajovy and Eli Lilly's (LLY) Emgality, this was made public in late 2018. In a check with management, Raymond found out the decision only encompasses about one-third of CVS network, that CVS is actively working to improve this access, and that 70% of commercial migraine patients have contracted access to Aimovig. Raymond concluded that this was "not something to worry about" in his view, and did not change his Q4, FY19, or FY20 estimates on Aimovig. In Friday trading, shares of Amgen were down just over 1% to $198.77.
01/23/19
UBSW
01/23/19
INITIATION
Target $131
UBSW
Buy
Eli Lilly initiated with a Buy at UBS
UBS analyst Navin Jacob started Eli Lilly with a Buy rating and $131 price target. The analyst's analysis suggests the company's diabetes franchise growth, Verzenio adjuvant trial success and operating margin expansion are not fully appreciated in the stock or estimates
01/18/19
JPMS
01/18/19
NO CHANGE
JPMS
Overweight
Eli Lilly trial miss a 'moderate setback,' says JPMorgan
JPMorgan analyst Chris Schott calls Eli Lilly's Phase 3 trial miss of Lartruvo in combination with doxorubicin in patients with advanced or metastatic soft tissue sarcoma a "moderate" setback.
01/18/19
WBLR
01/18/19
DOWNGRADE
WBLR
Market Perform
Loxo Oncology downgraded to Market Perform from Outperform at William Blair
William Blair analyst Raju Prasad downgraded Loxo Oncology (LOXO) to Market Perform citing the likelihood of the takeover by Eli Lilly (LLY) closing at the agreed upon price.

TODAY'S FREE FLY STORIES

BHVN

Biohaven Pharmaceutical

$44.16

-0.61 (-1.36%)

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  • 09

    Sep

CE

Celanese

$107.01

0.9 (0.85%)

18:01
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Celanese announces acetyl intermediates price increases »

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  • 23

    Jul

F

Ford

$10.20

-0.06 (-0.58%)

17:48
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07/19
17:48
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17:48
Periodicals
Ford plans to lay off 185 employees at Ontario plant, Reuters reports »

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  • 24

    Jul

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    Oct

RTN

Raytheon

$178.55

2.45 (1.39%)

17:48
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17:48
Hot Stocks
Raytheon awarded $191.01M Air Force contract modification »

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  • 25

    Jul

UTX

United Technologies

$132.37

1.08 (0.82%)

17:44
07/19/19
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17:44
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17:44
Hot Stocks
United Technologies awarded $253.71M Air Force contract »

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  • 23

    Jul

LMT

Lockheed Martin

$356.90

0.675 (0.19%)

17:40
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07/19
17:40
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17:40
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Lockheed Martin awarded $1.47B Missile Defense Agency contract modification »

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  • 23

    Jul

ARES

Ares Management

$28.13

-0.305 (-1.07%)

17:33
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07/19
17:33
07/19/19
17:33
Syndicate
Breaking Syndicate news story on Ares Management »

Ares Management files…

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  • 31

    Jul

  • 06

    Aug

HAFC

Hanmi Financial

$21.68

-0.105 (-0.48%)

17:33
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Hot Stocks
Hanmi Financial to delay release of Q2 results »

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  • 23

    Jul

PAYS

Paysign

$17.49

-0.48 (-2.67%)

17:32
07/19/19
07/19
17:32
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17:32
Syndicate
Breaking Syndicate news story on Paysign »

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MEOH

Methanex

$43.19

0.83 (1.96%)

17:28
07/19/19
07/19
17:28
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17:28
Hot Stocks
Methanex reaches final investment decision on methanol plant in Geismar, LA »

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  • 01

    Aug

17:17
07/19/19
07/19
17:17
07/19/19
17:17
Conference/Events
Credit Suisse biotech analysts to hold an analyst/industry conference call »

Biotech Analysts provide…

17:14
07/19/19
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17:14
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17:14
Conference/Events
UBS retail/hardlines analyst to hold an analyst/industry conference call »

Retail/Hardlines Analyst…

SHIP

Seanergy Marine

$0.64

-0.0425 (-6.25%)

17:05
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07/19
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17:05
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Seanergy Maritime receives noncompliance notice from Nasdaq »

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SONM

Sonim

$13.42

0.24 (1.82%)

16:41
07/19/19
07/19
16:41
07/19/19
16:41
Conference/Events
Sonim management to meet with Oppenheimer »

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  • 24

    Jul

  • 25

    Jul

  • 26

    Jul

  • 12

    Sep

KINS

Kingstone Companies

$8.81

0.09 (1.03%)

16:30
07/19/19
07/19
16:30
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16:30
Hot Stocks
Kingstone names Barry Goldstein CEO »

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  • 07

    Aug

  • 09

    Aug

16:30
07/19/19
07/19
16:30
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16:30
Options
Preliminary option volume of 22.6M today »

Preliminary option volume…

BA

Boeing

$377.34

16.17 (4.48%)

, MSFT

Microsoft

$136.62

0.33 (0.24%)

16:24
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07/19
16:24
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16:24
On The Fly
Fly Intel: Wall Street's top stories for Friday »

Stocks were tentatively…

BA

Boeing

$377.34

16.17 (4.48%)

MSFT

Microsoft

$136.62

0.33 (0.24%)

AMZN

Amazon.com

$1,964.78

-13.57 (-0.69%)

AAPL

Apple

$202.62

-3.02 (-1.47%)

WMT

Walmart

$113.91

-0.77 (-0.67%)

DIS

Disney

$139.86

-1.76 (-1.24%)

GCI

Gannett

$9.43

1.53 (19.37%)

CRWD

Crowdstrike

$83.50

10.75 (14.78%)

SKX

Skechers

$39.00

4.25 (12.23%)

PACB

Pacific Biosciences

$5.34

-0.53 (-9.03%)

ILMN

Illumina

$293.10

-5.44 (-1.82%)

CHWY

Chewy

$30.70

-2.09 (-6.37%)

03/08/13
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  • 24

    Jul

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  • 29

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  • 30

    Jul

  • 03

    Aug

  • 06

    Aug

  • 06

    Aug

  • 08

    Aug

  • 15

    Aug

  • 03

    Sep

  • 25

    Sep

  • 13

    Nov

VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
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07/19
16:20
07/19/19
16:20
Options
Closing CBOE SPX and VIX Index summary for July 19th »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
07/19/19
07/19
16:17
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Technical Analysis
NASDAQ market internals summary »

Volume was average for…

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BCBP

BCB Bancorp

$12.71

-0.09 (-0.70%)

16:17
07/19/19
07/19
16:17
07/19/19
16:17
Earnings
BCB Bancorp reports Q2 EPS 30c, consensus 30c »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
07/19/19
07/19
16:16
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16:16
Technical Analysis
NYSE market internals summary »

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CNXM

CNX Midstream Partners

$14.30

-0.205 (-1.41%)

16:16
07/19/19
07/19
16:16
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16:16
Hot Stocks
CNX Midstream Partners raises quarterly distribution 3.6% to 38.65c per unit »

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  • 30

    Jul

TELL

Tellurian

$7.25

0.22 (3.13%)

16:16
07/19/19
07/19
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Syndicate
Breaking Syndicate news story on Tellurian »

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16:15
07/19/19
07/19
16:15
07/19/19
16:15
General news
Breaking General news story  »

Boston Federal Reserve…

ROKU

Roku

$106.83

-2.18 (-2.00%)

16:13
07/19/19
07/19
16:13
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16:13
Conference/Events
Roku management to meet with Oppenheimer »

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  • 22

    Jul

  • 07

    Aug

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