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ALKS

Alkermes

$32.95

0.64 (1.98%)

, BIIB

Biogen

$321.46

2.03 (0.64%)

07:11
02/14/19
02/14
07:11
02/14/19
07:11

Alkermes sees FY19 EPS 25c-43c, consensus 56c

Sees FY19 revenue $1.14B-$1.19B, consensus $1.1B. Alkermes (ALKS) sees FY19 revenues driven by expected growth of proprietary products and an expected $150M milestone payment from Biogen (BIIB) in the fourth quarter related to the potential FDA approval of diroximel fumarate. Included in this total revenue expectation, Alkermes expects VIVITROL net sales to range from $330M-$350M and ARISTADA net sales to range from $210M-$230M.

ALKS

Alkermes

$32.95

0.64 (1.98%)

BIIB

Biogen

$321.46

2.03 (0.64%)

  • 14

    Feb

  • 28

    May

ALKS Alkermes
$32.95

0.64 (1.98%)

01/02/19
CANT
01/02/19
NO CHANGE
Target $33
CANT
Neutral
Alkermes lacks meaningful pipeline catalysts in 2019, says Cantor Fitzgerald
Despite being down 60% from its 2018 highs, the risk/reward on Alkermes is adequately reflected in the current stock price, Cantor Fitzgerald analyst Brandon Folkes tells investors in a research note. The analyst says upside to his forecasts and rating could come from ALKS 4230, the company's early immune-oncology candidate. However, he believes near term risk could come from pipeline failures, or Vivitrol and Aristada revenue coming in below consensus estimates. Folkes sees no new meaningful pipeline catalysts in 2019 to get him off the sidelines with respect to shares. As such, he reiterates a Neutral rating on Alkermes with a $33 price target.
01/22/19
JEFF
01/22/19
NO CHANGE
Target $43
JEFF
Hold
Doctors find Alkermes schizophrenia data 'somewhat' meaningful, says Jefferies
Jefferies analyst Biren Amin says his firm performed a second survey of 35 practicing psychiatrists who treat adult schizophrenia following the Enlighten-2 readout from Alkermes. Doctors appear to find the Phase 3 data "somewhat clinically meaningful," with a majority of potential prescriptions for ALKS 3831 converting from olanzapine and other atypicals in 2021, Amin tells investors in a research note. The survey shows that by 2021, about 13% of patients would be prescribed ALKS 3831, with about 50% of its share coming from conversion from other atypicals and 40% coming from olanzapine. The analyst adds that he did not take into account the potential influence of a branded price, which he notes could affect uptake. Amin has a Hold rating on Alkermes with a $43 price target.
02/04/19
STFL
02/04/19
NO CHANGE
STFL
Hold
Alkermes receipt of CRL for 5461 'no surprise,' says Stifel
Stifel analyst Paul Matteis said it came as "no surprise" that the FDA issued a Complete Response Letter to Alkermes related to the company's new drug application for ALKS 5461 for major depressive disorder given the "highly critical advisory committee meeting" that preceded it. Following that "tumultuous adcomm meeting," he had removed any near-term credit for 5461 from his model and Matteis believes that credit for the asset is largely out of other analysts' models as well, he tells investors. While the company is already running a phase 3b trial, which could possibly be supportive of registration, Matteis said he is unsure if the FDA has explicitly signed-off on the design and approach. He keeps a Hold rating on Alkermes shares.
02/07/19
CANT
02/07/19
NO CHANGE
Target $33
CANT
Neutral
Mylan patent challenge on Tecfidera potential positive for Alkermes, says Cantor
Cantor Fitzgerald analyst Brandon Folkes views the institution of Mylan's (MYL) inter partes review challenge of Tecfidera's '514 patent as a potential positive for Alkermes (ALKS). The analyst has assumed Biogen's (BIIB) Tecfidera '514 patent holds through 2028, and thus had ascribed a "more-modest" value to Alkermes' royalty from BIIB098 sales. If Mylan is successful in its IPR challenge, says the analyst, it could provide $4-$7 per share upside to his current Alkermes price target of $33. Biogen reported Tecfidera revenues of $4.3B for 2018, $3.3B of which was generated in the U.S. Alkermes is entitled to a mid-teen royalty on worldwide sales of BIIB098, Folkes tells investors in a research note titled "Giving ALKS a Hall Pass to Support the Away Team This Time." However, he believes the market has discounted the contribution of the BIIB098 royalty to Alkermes, "given the uncertainty about how the product may be included in a Tecfidera life cycle extension given the '514 patent runs to 2028."
BIIB Biogen
$321.46

2.03 (0.64%)

02/06/19
PIPR
02/06/19
NO CHANGE
Target $402
PIPR
Overweight
Successful challenge of Biogen's '514 patent unlikely, says Piper Jaffray
Piper Jaffray analyst Christopher Raymond kept his Overweight rating and $402 price target on Biogen (BIIB) after the latest filing disclosing that Mylan (MYL) petitioned U.S. PTAB to review its '514 patent covering the treatment of MS with 480 mg of dimethyl fumarate per day as provided for in Biogen's Tecfidera label. The analyst notes that while the worst case scenario could remove about $50 per share from his sum-of-parts analysis on Biogen, he sees it as "unlikely", since the patent has been resilient to two prior challenges which were decided in Biogen's favor.
02/07/19
MZHO
02/07/19
NO CHANGE
Target $427
MZHO
Buy
Mizuho likes Biogen's odds in patent case against Mylan
Shares of Biogen (BIIB) are trading down about 3% after Mylan's (MYL) inter partes review on key multiple sclerosis drug Tecfidera got "instituted," Mizuho analyst Salim Syed tells investors in a research note. The timing was as expected, and most biotech IPRs in general get instituted, explains the analyst. He says that while historical biotech IPR data suggests Biogen has a 31% chance of losing, the company's odds are "materially less" for two reasons. One, Tecfidera intellectual property is already "battle-tested," and two, there are 20 claims being disputed in this IPR and Mylan needs to win on all of them while Biogen needs to win on only one claim to be successful, Syed writes. He has a Buy rating on Biogen with a $427 price target.
02/12/19
RBCM
02/12/19
NO CHANGE
Target $318
RBCM
Sector Perform
Biogen price target lowered to $318 from $337 at RBC Capital
RBC Capital analyst Brian Abrahams lowered his price target on Biogen to $318 and kept his Sector Perform rating. The analyst says his "deeper dive" on the stock and its setup scenarios for the rest of the year "could make shares difficult to own" because of the complex Intellectual Property environment and the "competitive clinical data dynamics over the next 12-18 months". Abrahams further notes that the potential success of aducanumab and its "considerable upside" have caused investors to overlook the "meaningful risks" for the rest of the business, adding that the fair value on Biogen stock is likely around its current trading levels.

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BXG

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TSLA

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MSFT

Microsoft

$110.97

1.5 (1.37%)

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ENT

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$2.66

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NOC

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LYB

LyondellBasell

$89.14

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TCCO

Technical Comm Corp

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INFU

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KALU

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TEN

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Tenneco

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XRX

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TWTR

Twitter

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ALLY

Ally Financial

$26.95

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