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AMGN

Amgen

$188.31

1.6 (0.86%)

, ALPMY

Astellas Pharma

$0.00

(0.00%)

04:55
02/16/19
02/16
04:55
02/16/19
04:55

American Society of Clinical Oncology to hold a symposium

2019 ASCO Genitourinary Cancers Symposium will be held in San Francisco on February 14-16.

AMGN

Amgen

$188.31

1.6 (0.86%)

ALPMY

Astellas Pharma

$0.00

(0.00%)

AZN

AstraZeneca

$40.92

0.93 (2.33%)

BAYRY

Bayer

$0.00

(0.00%)

BMY

Bristol-Myers

$51.64

0.81 (1.59%)

CALA

Calithera Biosciences

$5.35

0.14 (2.69%)

CLVS

Clovis

$25.44

(0.00%)

DNA

Bought by RHHBY

$0.00

(0.00%)

ESALY

Eisai

$0.00

(0.00%)

EXEL

Exelixis

$22.26

-0.05 (-0.22%)

IMMU

Immunomedics

$14.23

0.225 (1.61%)

INO

Inovio

$3.70

0.01 (0.27%)

MRK

Merck

$79.84

0.9 (1.14%)

MYOV

Myovant Sciences

$21.48

0.1 (0.47%)

MYGN

Myriad Genetics

$31.41

0.53 (1.72%)

NH

NantHealth

$0.60

(0.00%)

NVS

Novartis

$89.89

0.865 (0.97%)

PFE

Pfizer

$42.41

0.45 (1.07%)

PGNX

Progenics

$4.87

0.13 (2.74%)

SGEN

Seattle Genetics

$71.48

2.92 (4.26%)

SNY

Sanofi

$42.51

0.94 (2.26%)

TYME

Tyme Technologies

$3.19

0.055 (1.76%)

AVEO

Aveo Pharmaceuticals

$0.62

0.0092 (1.51%)

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AMGN Amgen
$188.31

1.6 (0.86%)

01/29/19
PIPR
01/29/19
NO CHANGE
Target $210
PIPR
Overweight
Amgen price target lowered to $210 from $220 at Piper Jaffray
Piper Jaffray analyst Christopher Raymond lowered his price target on Amgen to $210 after its disappointing FY19 earnings guidance and the higher than anticipated operating expenses for Q4. The analyst also keeps his Overweight rating, noting that its management has a "track record for conservativism with respect to initial guidance" and also citing its impressive launch of Aimovig along with the strong performance by Sensipar and Neulasta.
01/30/19
HCWC
01/30/19
NO CHANGE
Target $281
HCWC
Buy
Amgen, Novartis reports show Ligand assets 'looking good,' says H.C. Wainwright
This morning, Ligand Pharmaceuticals (LGND) partner Novartis (NVS) reported Promacta Q4 revenue of $330M, above H.C. Wainwright analyst Joseph Pantginis' estimate of $306M. Promacta has now hit its first year of blockbuster status with 2018 sales of $1.174B, which is an important feat in the face of new competition, Pantginis tells investors in a research note. The analyst believes Ligand's increasing royalty revenue streams and growing number of deals that result in milestones "effectively refute the bear thesis we've seen in a few other firms' freely accessible research." With Amgen (AMGN) reporting Q4 Kyprolis revenue of $251M, the analyst says Ligand's top assets are "looking good." He reiterates a Buy rating on the shares with a $281 price target.
02/01/19
PIPR
02/01/19
NO CHANGE
PIPR
Overweight
Amgen acquisition of Alexion could make a lot of sense, says Piper Jaffray
While most investors anticipate Amgen (AMGN) could be shopping for smaller, bolt-on deals amid increased investor and press speculation that it is now an active acquirer, a larger deal with more near-term accretion potential may make more sense, Piper Jaffray analyst Christopher Raymond tells investors in a research note partially titled "Go Big or Go Home?" He thinks a potential Amgen for Alexion Pharmaceuticals (ALXN) deal "could actually make a lot of sense." Even at levels approaching $200 per share for Alexion, Amgen "could make a strong argument for a business combination," says Raymond. Alexion closed yesterday up $1.64 to $122.96. The analyst admits that some "bolt-on deals have been bandied around" by investors that "arguably make sense" for Amgen, including Biohaven Pharmaceutical and Amarin (AMRN). However, none of these options on their own get Amgen "to where they need to be to address the growth challenges of the legacy franchises," Raymond argues. He thinks a better deal for the company may be Alexion, which would bring in a "long-tailed asset" with Soliris/Ultomiris, an area Amgen has already approached with its Soliris biosimilar effort. The analyst's math has the potential deal being accretive next year, growing to 20%-plus accretion by 2024 for Amgen, even at a takeout price approaching $200 per Alexion share. Raymond keeps Overweight ratings on both companies.
01/30/19
LEER
01/30/19
NO CHANGE
Target $192
LEER
Market Perform
Amgen price target lowered to $192 from $200 at Leerink
Leerink analyst Geoffrey Porges lowered his price target for Amgen to $192 from $200 after reporting Q4 results that beat consensus estimates for revenue and earnings, but with the company's guidance for revenue to decline by 4%-8% in 2019 and for EPS to be flat to down, despite a mid-single digit share count decline after its large share buyback in 2018. The analyst reiterates a Market Perform rating on the stock.
ALPMY Astellas Pharma
$0.00

(0.00%)

11/05/18
JPMS
11/05/18
DOWNGRADE
JPMS
Underweight
Astellas Pharma downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Naomi Kumagai downgraded Astellas Pharma to Underweight and lowered her price target for the shares to 1,400 yen from 1,600 yen. The analyst sees "many causes for concern."
09/13/18
DBAB
09/13/18
DOWNGRADE
DBAB
Hold
Astellas Pharma downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Joseph Cairnes downgraded Astellas Pharma to Hold with an unchanged price target of JPY 2,020. The analyst sees a more balanced risk/reward at current valuation levels.
06/08/18
GSCO
06/08/18
DOWNGRADE
GSCO
Neutral
Goldman downgrades Astellas to Neutral with Xtandi growth priced in
Goldman Sachs analyst Akinori Ueda downgraded Astellas Pharma (ALPMY) to Neutral from Buy. Renewed appreciation for Xtandi's growth potential as well as Astellas' "proactive stance" on shareholder returns are largely priced into the stock, Ueda tells investors in a research note. With Japan Healthcare, the analyst prefers Santen Pharmaceutical, Shionogi and Sawai Pharmaceutical.
06/08/18
GSCO
06/08/18
DOWNGRADE
GSCO
Neutral
Astellas Pharma downgraded to Neutral from Buy at Goldman Sachs
AZN AstraZeneca
$40.92

0.93 (2.33%)

02/05/19
EXAN
02/05/19
INITIATION
EXAN
Outperform
AstraZeneca initiated with an Outperform at Exane BNP Paribas
02/05/19
02/05/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. AIG (AIG) initiated with a Neutral at Credit Suisse. 2. Box (BOX) initiated with a Buy at Goldman Sachs. 3. Rocket Pharmaceuticals (RCKT) initiated with an Outperform at Oppenheimer. 4. AstraZeneca (AZN) initiated with an Outperform at Exane BNP Paribas. 5. MercadoLibre (MELI) resumed with a Buy at Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/20/18
WELS
12/20/18
NO CHANGE
WELS
Drug industry facing 'brave new world' with drug price scrutiny, says Wells
After Reuters reported that nearly 30 drugmakers are planning to raise the prices of their medicines in the U.S. starting in January, including Novartis (NVS), Bayer (BAYRY), GlaxoSmithKline (GSK), Amgen (AMGN), AstraZeneca (AZN), Biogen (BIIB) and Allergan (AGN), Wells Fargo analyst David Maris told investors in a research note that he has repeatedly highlighted how the practice of drug price increases is a risk for the industry, and believes the latest actions by these manufacturers will be "front and center" for the Trump administration heading towards an election year. He also expects to see increased political and legislative pressure on drug prices as Democrats take over the House in January, and continues to believe that the drug industry is facing a "brave new world" with greater scrutiny of drug prices, lower price increases vs. historical levels, and as a result potentially lower profit margins.
12/14/18
12/14/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tesla (TSLA) initiated with an Outperform at Wedbush and a Hold at Deutsche Bank. 2. New York Times (NYT) initiated with an Outperform at Evercore ISI. 3. Ford (F) and General Motors (GM) were initiated with a Buy at Deutsche Bank, while Autoliv (ALV) was initiated with a Sell. 4. AstraZeneca (AZN) initiated with a Buy at SunTrust while GlaxoSmithKline (GSK) was initiated with a Hold. 5. DaVita (DVA) initiated with an Overweight at Barclays. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
BAYRY Bayer
$0.00

(0.00%)

12/04/18
FBCO
12/04/18
NO CHANGE
Target $113
FBCO
Outperform
FMC Corporation price target raised to $113 from $105 at Credit Suisse
Credit Suisse analyst Christopher Parkinson raised his price target for FMC Corporation (FMC) to $113 from $105 as he believes the company is making impressive strides to solidify itself within the "Big 5" alongside Bayer (BAYRY), Syngenta, BASF (BASFY) and DowDuPont (DWDP) post a large round of consolidation. The analyst reiterates an Outperform rating on the shares.
12/17/18
MSCO
12/17/18
NO CHANGE
Target $153
MSCO
Equal Weight
J&J stock reaction, comparisons to Bayer 'flawed,' says Morgan Stanley
Morgan Stanley analyst David Lewis said he is not convinced that Friday's article from Reuters uncovered new evidence that was not presented to Johnson & Johnson (JNJ) juries or part of the ongoing legal discovery process, but that it has raised a level of awareness around the issue and may inflate the company's potential legal exposure. The stock reaction is not supported by science as linking ovarian cancer broadly to talc will be challenging, contends Lewis, who believes the selloff in J&J shares appears too severe. Additionally, investor concerns that talc issues could lead to a Bayer-like (BAYRY) reaction have a flaw in the analysis of financial exposure, as glyphosate and its derivatives represent about 30% of Bayer's corporate EBITDA, while baby powder is less than 0.3% of J&J's sales and an "immaterial" percentage of EBITDA, said Lewis. He maintains an Equal Weight rating on Johnson & Johnson with a price target of $153.
01/02/19
JPMS
01/02/19
DOWNGRADE
JPMS
Neutral
Bayer downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Richard Vosser downgraded Bayer to Neutral and lowered his price target for the shares to EUR 70 from EUR 100. The analyst believes 2019 will be another "messy year" for the company.
BMY Bristol-Myers
$51.64

0.81 (1.59%)

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.
02/11/19
GUGG
02/11/19
NO CHANGE
GUGG
Neutral
Patent ruling positive for Celgene and Bristol-Myers, says Guggenheim
Guggenheim analyst Seamus Fernandez said the Patent Trial and Appeal Board's decision denying Dr. Reddy's (RDY) inter partes review petition seeking to invalidate 3 Revlimid myelodysplastic syndrome patents expiring April 2023 is a positive for Celgene's (CELG) shareholders as well as for the combination with Bristol-Myers (BMY). Consistent with his below-consensus estimates for Revlimid, he continues to view a broad settlement, beginning with Dr. Reddy's, as the most likely outcome, Fernandez tells investors. He keeps a Neutral rating on Bristol-Myers shares.
02/01/19
JEFF
02/01/19
DOWNGRADE
Target $95
JEFF
Hold
Celgene downgraded to Hold from Buy at Jefferies
Jefferies analyst Michael Yee reiterated his view that Bristol-Myers Squibb's (BMY) acquisition of Celgene (CELG) should continue on track and will likely close, though he noted that the spread has come in and that Celgene's comments on its earnings call suggest the potential for an earlier rather than later than expected closing of the deal. Yee keeps a $95 price target on Celgene shares, but downgrade the stock to Hold from Buy given that the upside he sees from current levels is less than 15%.
01/24/19
ADAM
01/24/19
NO CHANGE
Target $161
ADAM
Buy
Bluebird Bio's bb2121 'too valuable' for Bristol-Myers to share, says Canaccord
Assuming that the Bristol-Myers (BMY) and Celgene (CELG) transaction closes, Canaccord analyst John Newman said he expects Bristol-Myers will seek 100% control of bb2121 from Bluebird Bio (BLUE), calling the treatment "too valuable" to share due to the large long-term commercial potential and Bristol's deep expertise in commercialization. Stating that Bristol-Myers could try to acquire 100% control of bb2121 from Bluebird via a buyout, U.S. royalty, or higher EU royalty, Newman added that Bristol and Celgene do not have right of first refusal if an acquirer were to tender an offer, which he calls a "favorable setup" for Bluebird shareholders. The analyst, who estimates a Bluebird buyout to obtain the other half of the company could be valued at $8.8B-$10.5B, keeps a Buy rating and $161 price target on Bluebird Bio shares.
CALA Calithera Biosciences
$5.35

0.14 (2.69%)

02/16/18
SBSH
02/16/18
UPGRADE
Target $14
SBSH
Buy
Calithera Biosciences upgraded to Buy from Neutral at Citi
Citi analyst Robyn Karnauskas upgraded Calithera Biosciences (CALA) to Buy with an unchanged price target of $14. The stock has been under pressure after Phase 1 data from the CB-839/PD-1 combo, presumably due to comparison to Nektar Therapeutics' (NKTR) combo data, Karnauskas tells investors in a research note. She believes this is an unfair comparison, as Calithera and Nektar are targeting different patient populations, and the drugs have different mechanisms. The analyst views Calithera as underappreciated with the stock trading above cash with only $2 per share for the pipeline.
CLVS Clovis
$25.44

(0.00%)

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.
12/14/18
LEER
12/14/18
NO CHANGE
LEER
Outperform
Tesaro proxy documents point to interest in PARP economics, says Leerink
Leerink analyst Andrew Berens noted that GlaxoSmithKline (GSK) and Tesaro (TSRO) disclosed background details for their deal agreement in a filing this morning. The documents show several parties were interested in a strategic transaction with Tesaro at various points over the last year, though the strategic interest appears to have been driven by Glaxo and one additional company, identified as "Party A", Berens said. It is not clear why the six other contacted parties were not interested in pursuing a strategic transaction, but he thinks Party A's co-promote proposal and the initial interest of other potential acquirers indicates strategic interest in the economics surrounding a PARP. Berens, who continues to see Clovis (CLVS) being well-positioned as the remaining stand-alone PARP-focused company, keeps an Outperform rating on Clovis and Market Perform rating on Tesaro.
02/13/19
HCWC
02/13/19
INITIATION
Target $40
HCWC
Buy
Clovis initiated with a Buy at H.C. Wainwright
H.C. Wainwright analyst Edward White started Clovis Oncology with a Buy rating and $40 price target. Investors are missing the potential opportunity that the PARP market holds in ovarian cancer and other indications, White tells investors in a research note. While penetration of the PARP market has been slow, investors are not giving Clovis enough credit for the potential size of the market, says the analyst. He believes the size of the monotherapy ovarian cancer PARP market "has plenty of room to expand."
02/13/19
02/13/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. OncoCyte (OCX) initiated with an Overweight at Piper Jaffray. 2. SilverCrest Metals (SILV) initiated with an Outperform at BMO Capital. 3. Galectin Therapeutics (GALT) initiated with a Buy at B. Riley FBR. 4. Clovis (CLVS) initiated with a Buy at H.C. Wainwright. 5. Geron (GERN) initiated with a Buy at BTIG. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
DNA Bought by RHHBY
$0.00

(0.00%)

ESALY Eisai
$0.00

(0.00%)

08/28/18
PIPR
08/28/18
NO CHANGE
PIPR
Overweight
Piper says Biogen PRIME data has little to change minds of bulls or bears
After Biogen (BIIB) and Eisai (ESALY) announced another year's worth of long term extension data from their ongoing PRIME Phase 1b study of aducanumab, Piper Jaffray analyst Christopher Raymond said he sees little in the release to change the minds of either A-beta bulls or A-beta bears. Raymond, who continues to look toward a full Phase 3 data read-out in early 2020 as the key event for aducanumab, keeps an Overweight rating on Biogen shares.
07/10/18
MZHO
07/10/18
NO CHANGE
MZHO
Buy
Biogen, Eisai not sharing details on BAN2401 presentation at AAIC, says Mizuho
After Biogen (BIIB) and partner Eisai's (ESALY) recent announcement that BAN2401 demonstrated statistically significant slowing in clinical decline and reduction of amyloid beta accumulation in a trial of Alzheimer's patients, Mizuho analyst Salim Syed said he has checked with both companies and neither is divulging any details about what sort of data on the trial will be shared at the upcoming AAIC meeting. He maintains a Buy rating and $423 price target on Biogen shares.
07/06/18
NOMU
07/06/18
UPGRADE
NOMU
Buy
Eisai upgraded to Buy from Neutral at Nomura Instinet
07/06/18
MSCO
07/06/18
NO CHANGE
Target $369
MSCO
Overweight
Biogen likely to be up 5%-10% on positive Alzheimer's data, says Morgan Stanley
Morgan Stanley analyst Matthew Harrison said the fact that Eisai (ESALY) and Biogen's (BIIB) BAN2401 trial achieved positive topline results at an 18 month landmark analysis is a "clear positive" for the perception of aducanumab and he expects Biogen's shares to be up 5% to over 10% following the news. Harrison added that he would expect full data to be reported at the CTAD meeting in October as he thinks the AAIC meeting coming up in late July is too close. He keeps an Overweight rating and $369 price target on Biogen shares.
EXEL Exelixis
$22.26

-0.05 (-0.22%)

11/02/18
NEED
11/02/18
NO CHANGE
Target $30
NEED
Buy
Exelixis well positioned for future I/O combos, says Needham
Needham analyst Chad Messer said cabozantinib is "becoming the drug of choice in second line treatment in RCC" and he believes immuno-oncology combos will support future growth. Exelixis is running several clinical programs investigating cabozantinib in combination with I/O drugs, noted Messer, who keeps a Buy rating and $30 price target on Exelixis following the company's Q3 report.
11/04/18
PIPR
11/04/18
NO CHANGE
Target $26
PIPR
Overweight
Exelixis price target lowered to $26 from $29 at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff lowered his price target for Exelixis to $26 from $29, while reiterating an Overweight rating on the shares. The analyst notes the company delivered another beat with U.S. CABOMETYX sales of $158M in Q3. Although I-O is beginning to dominate front-line RCC, Tenthoff believes CABO is competitively positioned in certain patients and with ongoing I-O combo studies of its own. Next, he expects CABOMETYX label expansion in hepatocellular carcinoma with approval by the January 14th PDUFA date. The analyst now forecasts CABOMETYX sales of $595M in 2018, $826M in 2019, peaking at $1.38B in 2024.
02/13/19
OPCO
02/13/19
NO CHANGE
Target $31
OPCO
Outperform
Exelixis price target lowered to $31 from $40 at Oppenheimer
Oppenheimer analyst Silvan Tuerkcan lowered his price target for Exelixis to $31 from $40 as he switches to a DCF valuation with a 10% discount rate and (5)% terminal value growth rate. The analyst reiterates an Outperform rating on the shares based on continued Cabometyx growth and expected positive catalysts.
11/27/18
PIPR
11/27/18
NO CHANGE
Target $26
PIPR
Overweight
Exelixis's Cabometyx remains competitive positioned, says Piper Jaffray
Piper Jaffray analyst Edward Tenthoff kept his Overweight rating and $26 price target on Exelixis after its management's presentation at the annual Piper Jaffray Healthcare Conference. The analyst notes that its CABOMETYX is the tyrosine kinase inhibitor choice in the 2nd and 3rd line kidney cancer. Tenthoff adds that although immuno-oncology drugs are starting to dominate Renal Cell Carcinoma, CABOMETYX is still "competitively positioned with a better potency and safety profile".
IMMU Immunomedics
$14.23

0.225 (1.61%)

01/22/19
MSCO
01/22/19
DOWNGRADE
Target $17
MSCO
Equal Weight
Immunomedics downgraded to Equal Weight after CRL receipt at Morgan Stanley
Morgan Stanley analyst Matthew Harrison downgraded Immunomedics to Equal Weight from Overweight, stating that he recommends taking a more conservative approach following last week's Complete Response Letter from the FDA for sacituzumab govitecan in triple negative breast cancer. While he believes consensus has a more positive than negative view of the company's ability to solve the CMC issues quickly, he is concerned that management's view of the issues and the FDA's view of the issues differ significantly, Harrison tells investors. He lowered his peak sales estimate to $1.6B from $2B after lowering his odds of success for the mTNBC program from 100% to 75% and cut his price target on Immunomedics shares to $17 from $38.
01/23/19
RILY
01/23/19
NO CHANGE
Target $28
RILY
Buy
Immunomedics price target lowered to $28 from $55 at B. Riley FBR
B. Riley FBR analyst Harshita Polishetty lowered her price target for Immunomedics to $28 saying the Complete Response Letter from the FDA obfuscates the company's pathway to approval and launch timelines. The analyst, however, keeps a Buy rating on the shares.
01/23/19
RILY
01/23/19
NO CHANGE
Target $28
RILY
Buy
Immunomedics price target lowered to $28 from $55 at B. Riley FBR
B. Riley FBR analyst Harshita Polishetty lowered her price target on Immunomedics shares to $28 from $55 and pushed back her expectations for a launch of IMMU-132 in third-line TNBC by one year after the company announced that it received a Complete Response Letter from the FDA. While the CRL "obfuscates" the regulatory pathway and launch timelines for IMMU-132, Polishetty keeps a Buy rating on the shares, citing the potential opportunity in third-line TNBC and other solid cancers.
02/08/19
GSCO
02/08/19
NO CHANGE
Target $22
GSCO
Buy
Immunomedics receipt of EIR first step to resolving CRL, says Goldman Sachs
After Immunomedics disclosed last night that it has received an Establishment Inspection Report, or EIR, from the FDA, Goldman Sachs analyst Paul Choi said that management indicated the report identified no additional issues compared to the original Form 483 and Complete Response Letter previously issued, but did include details they expect to be helpful in addressing FDA concerns. The EIR is the first step to resolving the CRL, but visibility on the timing of the remaining steps remains limited, said Choi. The analyst, who maintains his conservative view that the entire process will delay the launch of IMMU-132 until 2021, has a Buy rating and $22 price target on Immunomedics shares.
INO Inovio
$3.70

0.01 (0.27%)

06/29/18
PIPR
06/29/18
INITIATION
Target $12
PIPR
Overweight
Inovio assumed with an Overweight at Piper Jaffray
Piper Jaffray analyst Christopher Raymond assumed coverage of Inovio Pharmaceuticals with an Overweight rating and $12 price target. The stock is "poised for upside" as investors are assigning little value to key programs like VGX-3100, in Phase 3 for the treatment of cervical dysplasia, and INO-5410, in Phase 1/2 for bladder cancer, Raymond tells investors in a research note. He views Inovio's immunotherapy platform as differentiated with a number of key proof of concept data points in coming quarters. The analyst would be a buyer of the stock to levels approaching $12.
06/29/18
06/29/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Construction Partners (ROAD) initiated with an Outperform at Imperial Capital. 2. Inovio (INO) assumed with an Overweight at Piper Jaffray. 3. GATX (GATX) initiated with a Buy at Mizuho. 4. Schneider National (SNDR) initiated with a Hold at Stifel. 5. Eloxx Pharmaceuticals (ELOX) initiated with a Buy at Canaccord. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/26/18
PIPR
09/26/18
NO CHANGE
Target $12
PIPR
Overweight
Piper remains buyer of Inovio after management meetings
Piper Jaffray analyst Christopher Raymond keeps an Overweight rating on shares of Inovio Pharmaceuticals with a $12 price target following a day of investor meetings with management. The analyst looks to 2019 efficacy updates for MEDI0457 and INO-5401 in combination with PD-(L)1 in head and neck, bladder cancer, and glioblastoma as validating for the Aspire platform. He continue to like the stock's set-up and remain buyers of the shares.
10/02/18
STFL
10/02/18
INITIATION
Target $8
STFL
Buy
Inovio resumed with a Buy at Stifel
Stifel analyst Stephen Willey resumed coverage of Inovio with a Buy rating and $8 price target, citing his favorable view of the clinical risk underlying the ongoing Phase 3 VGX-3100 development program in patients with HPV+ cervical HSIL. He sees the company's earlier-stage immuno-oncology development efforts and externally-funded infectious diseases programs as additional sources of longer-term upside, Willey added.
MRK Merck
$79.84

0.9 (1.14%)

02/14/19
02/14/19
NO CHANGE

Merck initiating three Phase 3 trials with Keytruda for prostate cancer
Merck (announced the presentation of interim data from the Phase 1b/2 KEYNOTE-365 umbrella trial investigating Keytruda, Merck's anti-PD-1 therapy, in combination with various agents for the treatment of patients with metastatic castration-resistant prostate cancer. These early findings show anti-tumor activity across three cohorts of the study, which investigated Keytruda in combination with Lynparza for Cohort A, docetaxel and prednisone for Cohort B, and enzalutamide for Cohort C - with a safety profile consistent with each therapy alone. These results are being presented at the 2019 Genitourinary Cancers Symposium in San Francisco. Based on the findings, Merck is initiating three new pivotal Phase 3 trials with Keytruda in combination with Lynparza, docetaxel and prednisone and enzalutamide. With the initiation of KEYLYNK-010, KEYNOTE-921 and KEYNOTE-641, Merck now has the only program to evaluate overall survival as a co-primary endpoint across three Phase 3 trials.
02/05/19
BOFA
02/05/19
NO CHANGE
BOFA
Merck added to US 1 List, Allergan removed at BofA/Merrill
02/01/19
PIPR
02/01/19
NO CHANGE
Target $3
PIPR
Overweight
Piper says OncoSec's TAVO resensitizing anti-PD-1 progressers 'impressive'
After OncoSec (ONCS) reported updated data for the registrational KEYNOTE-695 study evaluating TAVO plus Merck's (MRK) Keytruda, Piper Jaffray analyst Edward Tenthoff noted that TAVO's ORR improved and called the fact that TAVO resensitized anti-PD-1 progressers "impressive." He reiterates an Overweight and $3 price target on OncoSec shares.
01/23/19
01/23/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Tesla (TSLA) downgraded to Underperform from Sector Perform at RBC Capital with analyst Joseph Spak saying the company's more "tactful messaging" conveys downward pressure to growth expectations and also sees the "realities" of Tesla becoming a volume player highlighting its "challenges to scale and deliver high volume at high ASPs/margins." 2. Lowe's (LOW) downgraded to Hold from Buy at Loop Capital with analyst Laura Champine saying she thinks she was previously too optimistic on Lowe's likely margin progression. 3. Williams-Sonoma (WSM) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Simeon Gutman saying he believes top and bottom-line pressures will intensify in 2019. 4. Merck (MRK) downgraded to Market Perform from Outperform at BMO Capital with analyst Alex Arfaei citing the company's over-dependence on Keytruda, the Street's high expectations, and his views on upcoming competitor trials combining for a more balanced risk-reward on Merck. 5. Pfizer (PFE) and Mylan (MYL) were downgraded to Neutral from Buy at UBS. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
MYOV Myovant Sciences
$21.48

0.1 (0.47%)

10/26/18
GSCO
10/26/18
INITIATION
Target $25
GSCO
Neutral
Myovant Sciences initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Dana Flanders started Myovant Sciences with a Neutral rating and $25 price target. The analyst's due diligence suggests a "likely slow build" for the antagonist class. Further, Flanders anticipates "minimal clinical differentiation" between the agents in development. The analyst views Myovant's growth opportunity as attractive but sees competitive markets.
02/13/19
02/13/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Freeport McMoRan (FCX) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Piyush Sood saying his firm's Metals & Mining team expects copper market tightness to emerge beginning in Q2, given falling global production, low visible inventories and improved demand from China and Freeport's earnings sensitivity to copper is still the highest among its peers. 2. DocuSign (DOCU) upgraded to Buy from Hold at Deutsche Bank with analyst Karl Keirstead saying that after speaking with four large e-signature customers, three using DocuSign and one using Adobe Sign, the analyst believes a "more constructive call on DocuSign shares is now warranted." 3. Bloom Energy (BE) upgraded to Outperform from Market Perform at Raymond James with analyst Pavel Molchanov saying shares are down about 36% since the IPO in July 2018, including a 24% drop since mid-January, the latter due in large part to selling pressure following lockup expiration. 4. Shopify (SHOP) upgraded to Outperform from Sector Perform at RBC Capital with analyst Ross MacMillan saying he anticipates the company to return to new merchant growth this year given its international opportunity and easier comps. 5. Myovant Sciences (MYOV) upgraded to Overweight from Equal Weight at Barclays with analyst Geoffrey Meacham saying his firm's women's health survey suggests a "robust potential market" for new treatment options for endometriosis and uterine fibroids. The analyst also raised his price target for the shares to $25 from $22. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/13/19
LEHM
02/13/19
UPGRADE
Target $25
LEHM
Overweight
Barclays upgrades Myovant to Overweight on bullish women's health survey
Barclays analyst Geoffrey Meacham upgraded Myovant Sciences to Overweight from Equal Weight and raised his price target for the shares to $25 from $22. The analyst says his firm's women's health survey suggests a "robust potential market" for new treatment options for endometriosis and uterine fibroids. Respondents to the survey reported positive experiences with Orilissa and noted increasing patient interest in new therapies, Meacham tells investors in a research note. He believes Myovant will benefit from these market dynamics.
02/13/19
LEHM
02/13/19
UPGRADE
Target $25
LEHM
Overweight
Myovant Sciences upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Geoffrey Meacham upgraded Myovant Sciences to Overweight and raised his price target for the shares to $25 from $22.
MYGN Myriad Genetics
$31.41

0.53 (1.72%)

01/04/19
COWN
01/04/19
UPGRADE
COWN
Outperform
Myriad Genetics upgraded to Outperform from Market Perform at Cowen
01/02/19
NEED
01/02/19
INITIATION
Target $36
NEED
Strong Buy
Myriad Genetics initiated with a Strong Buy at Needham
Needham analyst Stephen Unger started Myriad Genetics with a Strong Buy rating and $36 price target. The analyst believes the company's expanding portfolio of molecular diagnostic testing services and an increased focus on profit improvement can drive "significant" earnings upside.
12/31/18
PIPR
12/31/18
NO CHANGE
PIPR
Overweight
Piper names top Diagnostics & Life Science Tools ideas for 2019
Piper Jaffray analyst William Quirk names CareDx (CDNA), Illumina (ILMN) and Myriad Genetics (MYGN) his firm's top Diagnostics & Life Science Tools ideas for 2019. The analyst's top small cap idea is CareDx. He believes AlloSure volumes will continue to drive top line and bottom line leverage for the company in 2019. Quirk's top mid cap idea is Myriad. The analyst says the company "has multiple shots on goal" and that it will garner incremental reimbursement across several tests leading to upside in 2019. His top large cap idea is Illumina. Large population sequencing projects will accelerate beginning in 2019, which combined with eventual average risk NIPT expansion and ongoing "robust" oncology adoption, will continue generating upside to consensus expectations for the company, Quirk tells investors in a research note. The analyst keeps Overweight ratings on all three names.
12/27/18
12/27/18
NO CHANGE

Stephens to keep GrubHub, RealPage, Vulcan Materials on 2019 Best Ideas list
Stephens said that it plans to publish a complete updated 2019 Best Ideas list on January 2, but in anticipation it shared the names that are being dropped and the three stocks that will remain on the list. The holdovers are GrubHub (GRUB), RealPage (RP) and Vulcan Materials (VMC). The stocks being removed include Boston Scientific (BSX), Brookdale Senior Living (BKD), Conn's (CONN), CoStar Group (CSGP), Curo Group (CURO), FedEx (FDX), First Financial Bancorp (FFBC), Graphic Packaging (GPK), Hub Group (HUBG), Keane Group (FRAC), KeyCorp (KEY), LKQ Corp. (LKQ), Myriad Genetics (MYGN), SVB Financial (SIVB), Triumph Bancorp (TBK), TrueCar (TRUE) and Union Bankshares (UBSH).
NH NantHealth
$0.60

(0.00%)

NVS Novartis
$89.89

0.865 (0.97%)

02/06/19
BARD
02/06/19
INITIATION
Target $26
BARD
Cellular Biomedicine initiated with an Outperform at Baird
Baird analyst Madhu Kumar initiated Cellular Biomedicine (CBMG) with an Outperform rating and a price target of $26. The analyst says the company's manufacturing capacity in cell therapy provide it with an edge in the "underappreciated China market", while its partnership with Novartis' (NVS) Kymriah in China validates its cell therapy manufacturing prowess. Given the multiple cell therapies expected in the next 12 months, Kumar says Cellular Biomedicine "could have a panoply of shots on goal over the coming year."
01/30/19
WELS
01/30/19
NO CHANGE
WELS
Wells says Novartis report read-through 'neutral to negative' for Mylan, Teva
After Novartis' (NVS) Sandoz generics unit reported Q4 sales were down 2% in constant currency, due to a 7% decline in price and 5% increase in volume, Wells Fargo analyst David Maris noted that the majority of the price erosion came from the U.S. While the 2% decline was a sequential improvement from down 4% in Q3, Novartis was up against an easy comparison in the year ago period, Maris added. His view is that the U.S. generic market has not materially changed or improved at this point and he contends the report has a "neutral to negative read-through" relative to investors' expectations for Mylan (MYL) and Teva (TEVA).
01/30/19
HCWC
01/30/19
NO CHANGE
Target $7
HCWC
Buy
Aduro Biotech strategic reset 'makes sense,' says H.C. Wainwright
H.C. Wainwright analyst Joseph Pantginis said it "makes sense" for Aduro Biotech (ADRO) to reset its focus primarily on its two lead programs, STING and APRIL, and he believes a more focused strategy may further help "delineate clear clinical paths for these two assets." The analyst, who noted that Aduro is developing the STING pathway in oncology with partner Novartis (NVS), said he also believes the STING opportunity could be significant beyond oncology. He maintains a Buy rating on Aduro shares though he lowered his price target on the stock to $7 from $8.30 for the removal of the pLADD program from his projections and his adjustment of the base year.
PFE Pfizer
$42.41

0.45 (1.07%)

01/31/19
01/31/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Pfizer (PFE) upgraded to Outperform from Neutral at Credit Suisse and to Buy from Hold at Argus. 2. Tiffany (TIF) upgraded to Overweight from Neutral at Atlantic Equities with analyst Daniela Nedialkova saying the pullback has been largely driven by macro concerns while fundamentals of the brand are strong and preliminary FY19 guidance is conservative. 3. Scotts Miracle-Gro (SMG) upgraded to Neutral from Underweight at JPMorgan with analyst Jeffrey Zekauskas citing valuation. 4. Geron (GERN) upgraded to Buy from Neutral at B. Riley FBR with analyst George Zavoico saying he believes investors should focus on the pivotal Phase III trial of imetelstat. 5. Ralph Lauren (RL) upgraded to Outperform from Market Perform at Telsey Advisory with analyst Dana Telsey saying the company's improving sakes, combined with ongoing margin expansion, should bolster its earnings. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/31/19
ARGS
01/31/19
UPGRADE
Target $55
ARGS
Pfizer upgraded to Buy from Hold at Argus
Argus analyst David Toung upgraded Pfizer (PFE) to Buy with a price target of $55, saying he anticipates an upward revenue inflection point in 2021 after flat sales in the second half of 2019 and first half of 2020. After cycling through Lyrica loss of exclusivity over the next year, the analyst anticipates Pfizer to benefit from optimized portfolio of assets as it completes its consumer healthcare business joint venture with GlaxoSmithKline (GSK). Toung adds that while he does not "expect major transformational deals", he does see the management pursuing "acquisitions and divestitures that improve long-term profitability".
01/31/19
01/31/19
UPGRADE
Target $47

Outperform
Pfizer upgraded to Outperform on new product story at Credit Suisse
As previously reported, Credit Suisse analyst Vamil Divan upgraded Pfizer to Outperform from Neutral and raised his price target on the shares to $47 from $45. The analyst notes that Pfizer has been working through a dark period with extensive patent expirations that have hampered the company's ability to grow, but that period is now nearing an end. Further, the analyst believes the company's new product story with multiple marketed and pipeline assets may be underappreciated.
01/31/19
ARGS
01/31/19
UPGRADE
ARGS
Buy
Pfizer upgraded to Buy from Hold at Argus
PGNX Progenics
$4.87

0.13 (2.74%)

07/31/18
NEED
07/31/18
NO CHANGE
Target $16
NEED
Strong Buy
Progenics price target raised to $16 from $14 at Needham
Needham analyst Chad Messer raised his price target on Progenics to $16 after the FDA approved Azedra for intravenous use for certain types of locally advanced or metastatic pheochromocytoma or paraganglioma who require systemic anticancer therapy. Messer keeps a Strong Buy rating on Progenics shares.
09/13/18
NEED
09/13/18
DOWNGRADE
NEED
Buy
Progenics downgraded to Buy from Strong Buy at Needham
09/13/18
09/13/18
DOWNGRADE
Target $12

Buy
Progenics downgraded to Buy on Phase III trial disappointment at Needham
As previously reported, Needham analyst Chad Messer downgraded Progenics to Buy from Strong Buy after its Phase III study of PSMA imaging agent 1404 in prostate cancer missed its co-primary sensitivity endpoint. Although the study did meet the specificity endpoint, the analyst believes these results fall short of expectations set based on strong Phase II results. Additionally, Messer notes that the limitations of 1404 are likely due to the SPECT/CT platform and sees no read through to PyL, Progenic's other PSMA based imaging agent that works on the more sensitive PET imaging platform. The analyst also lowered his price target on the shares to $12 from $16.
12/07/18
FBCO
12/07/18
INITIATION
Target $6.5
FBCO
Outperform
Progenics initiated with an Outperform at Credit Suisse
Credit Suisse analyst Martin Auster initiated Progenics with an Outperform rating and $6.50 price target. In a research note to investors, Auster says he believes Progenics' royalties and future milestones from Relistor and revenue from Azedra support a core business with an NPV of about $5 per share, and says that as the commercial uptake of Azedra begins to unfold, investor focus is expected to turn to upside opportunities in prostate cancer PSMA-targeting diagnostic and therapeutic approaches. He adds that Novartis' (NVS) recent $2.1B acquisition of Endocyte (ECYT) supports pharma interest and attractive valuations in the space.
SGEN Seattle Genetics
$71.48

2.92 (4.26%)

02/07/19
PIPR
02/07/19
NO CHANGE
Target $64
PIPR
Neutral
Seattle Genetics price target lowered to $64 from $66 at Piper Jaffray
Piper Jaffray analyst Joseph Catanzaro lowered his price target on Seattle Genetics to $64 and kept his Neutral rating after its Q4 results and Adcetris sales came in line with forecasts. The analyst cites the slowdown in the adoption trajectory of E-1 over the past two quarters, but looks ahead to two pivotal data sets for Adcetris in 2019.
01/29/19
PIPR
01/29/19
NO CHANGE
Target $66
PIPR
Neutral
Seattle Genetics label expansion likely to drive Q4 beat, says Piper Jaffray
Piper Jaffray analyst Joseph Catanzaro says the question of whether Q4 is an easy beat for Seattle Genetics' Adcetris has been raised after the drug received a label expansion in mid-November to include the E-2 first-line peripheral T-cell lymphoma setting. The analyst expects the new label to contribute to a Q4 Adcetris beat as consensus estimates are largely unchanged since the news. However, how much and where 2019 guidance falls will point to expectations for E-2 moving forward, Catanzaro tells investors in a research note. He believes $137M-plus in Q4 sales and 2019 guidance of $660M-plus "would be very positive numbers" for Adcetris. The analyst keeps a Neutral rating on Seattle Genetics with a $66 price target.
12/04/18
WBLR
12/04/18
NO CHANGE
WBLR
Outperform
Seattle Genetics' T-cell lymphoma data best case scenario, says William Blair
The "quality and robustness" of the data Seattle Genetics reported from the successful Phase III Ecehlon-2 study, which assesses the safety and efficacy of Adcetris plus a three-drug chemotherapy regimen versus the standard of care four-drug chemotherapy regimen in frontline mature T-cell lymphomas, represent the "best case scenario," William Blair analyst Andy Hsieh tells investors in a research note. The analyst highlights that the indication was approved 11 days after Seattle Genetics submitted the regulatory application to the FDA, which took advantage of the Real-Time Oncology Review Program. He believes Adcetris will be "quickly adopted" in the frontline mature T-cell lymphoma setting, a $400M market in the United States alone. The analyst keeps an Outperform rating on the shares.
11/27/18
PIPR
11/27/18
NO CHANGE
Target $66
PIPR
Neutral
Piper gets positive feedback on Seattle Genetics label expansion
Piper Jaffray analyst Joseph Catanzaro conducted two key opinion leader calls to gauge sentiment around the data included in Seattle Genetics' Echelon-2 label expansion of Adcetris into CD30+ front-line T-cell lymphoma. The leaders provided "overwhelmingly positive feedback" specifically for anaplastic large cell lymphoma patients, and dismissed any concerns cited with Echelon-1, Catanzaro tells investors in a research note. The analyst, however, awaits greater clarity on the non-ALCL subgroup analyses at the upcoming American Society of Hematology meeting and reiterates a Neutral rating on Seattle Genetics with a $66 price target.
SNY Sanofi
$42.51

0.94 (2.26%)

01/03/19
SBSH
01/03/19
NO CHANGE
Target $70
SBSH
Buy
Citi calls MyoKardia 'more interesting long term play' after Sanofi news
Citi analyst Mohit Bansal says that while some might see Sanofi (SNY) giving back all rights back to MyoKardia (MYOK) as a negative, he sees "significant strategic implications in longer term." The move gives MyoKardia more freedom to employ its "Divide and Conquer" precision strategy, Bansal tells investors in a research note titled "Full control makes MYOK an interesting long term play." The analyst also points out that Sanofi's decision was related to wanting U.S. control over Mavacamten, and is not related to the profile of the products. Bansal lowered his price target for MyoKardia to $70 from $90 and keeps a Buy rating on the shares.
01/03/19
MSCO
01/03/19
NO CHANGE
Target $70
MSCO
Overweight
MyoKardia shares oversold on Sanofi collaboration end, says Morgan Stanley
Morgan Stanley analyst Jeffrey Hung said MyoKardia (MYOK) management emphasized that Sanofi (SNY) wanted greater economics and maintained that efficacy and safety did not factor into Sanofi's decision to end their collaboration. His base case assumption is that MyoKardia will find another partner after more mature data are reported and he thinks the shares have been oversold following yesterday's announcement, Hung tells investors. He trimmed his price target on the stock to $70 from $72, but keeps an Overweight rating, stating that he believes the Phase 2 mavacamten data were promising and sees multiple catalysts over the next year.
01/22/19
SBSH
01/22/19
NO CHANGE
Target $14
SBSH
Buy
Lexicon price target lowered to $14 from $26 at Citi
Citi analyst Yigal Nochomovitz lowered his price Lexicon Pharmaceuticals (LXRX) to $14 following last week's FDA panel on sotagliflozin. The analyst now believes Sanofi (SNY) and Lexicon will likely need to conduct a pilot study on a Risk Evaluation and Mitigation Strategies program for mitigating diabetic ketoacidosis risk before the FDA will consider approving the drug. He keeps a Buy rating on Lexicon.
02/07/19
BMOC
02/07/19
NO CHANGE
Target $412
BMOC
Market Perform
Regeneron price target raised to $412 from $403 at BMO Capital
BMO Capital analyst Matthew Luchini raised his price target on Regeneron (REGN) to $412 after its sales and earnings beat in Q4. The analyst cites the combination of Elyea, the "catch-up" payment from Sanofi (SNY), and a lower than expected tax rate. Luchini is keeping his Market Perform rating on the shares, noting that while "Eylea continues to show strength", he is "cautious on the VEGF competitive landscape".
TYME Tyme Technologies
$3.19

0.055 (1.76%)

01/18/19
EVER
01/18/19
NO CHANGE
EVER
Evercore's Schimmer likes what he saw in Tyme Technologies data
Evercore ISI analyst Josh Schimmer says that despite today's selloff in the shares, he likes what he saw this morning with Tyme Technologies' update on SM-88. The stock in late morning trading is down 37% to $2.34. The analyst says the drug hit his bar of a low teens response and that management did a good job in highlighting why the data are compelling. Investors have been conditioned to look for a greater than 20% overall response rate in cancer, but that's the wrong hurdle for pancreatic, Schimmer tells investors in a research note. He views SM-88's 12% response rate and clean toxicity as exciting.
01/18/19
HCWC
01/18/19
NO CHANGE
Target $9.5
HCWC
Buy
Tyme selloff unwarranted, brings buying opportunity, says H.C. Wainwright
H.C. Wainwright analyst Swayampakula Ramakanth calls the selloff today in shares of Tyme Technologies unwarranted. Overall, the analyst is "very encouraged" by SM-88's "signs of clinical efficacy" in the most rigorous clinical study the company has conducted to date. SM-88 could become one of the most promising therapies for refractory metastatic pancreatic cancer patients, Ramakanth tells investors in a research note. He sees a buying opportunity in today's selloff and reiterates a Buy rating on Tyme Technologies with a $9.50 price target. The stock in midday trading is down 38%, or $1.41, to $2.32.
AVEO Aveo Pharmaceuticals
$0.62

0.0092 (1.51%)

02/01/19
HCWC
02/01/19
DOWNGRADE
Target $1
HCWC
Neutral
Aveo Pharmaceuticals downgraded to Neutral from Buy at H.C. Wainwright
H.C. Wainwright analyst Swayampakula Ramakanth downgraded Aveo Pharmaceuticals to Neutral and cut his price target for the shares to $1 from $9. The company yesterday announced that the FDA has recommended against the filing of tivozanib new drug application, citing the drug's potential detriment to overall survival seen in the results of the TIVO-3 study, Ramakanth tells investors in a research note. This development adds "significant uncertainty" to the future of tivozanib in the U.S. as a monotherapy, says the analyst.
02/04/19
RILY
02/04/19
DOWNGRADE
Target $1
RILY
Neutral
Aveo Pharmaceuticals downgraded to Neutral from Buy at B. Riley FBR
B. Riley FBR analyst Harshita Polishetty downgraded Aveo Pharmaceuticals to Neutral and lowered her price target for the shares to $1 from $5. The analyst sees a financing overhang after the FDA recommended against the filing of the company's tivozanib new drug application.
02/04/19
02/04/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Aveo Pharmaceuticals (AVEO) downgraded to Neutral from Buy at B. Riley FBR with analyst Harshita Polishetty saying she sees a financing overhang after the FDA recommended against the filing of the company's tivozanib new drug application. 2. BHP Billiton (BHP) downgraded to Underweight from Neutral at JPMorgan while Rio Tinto (RIO) was downgraded to Neutral from Overweight at. 3. SAP (SAP) downgraded to Neutral from Buy at BofA/Merrill. 4. MacroGenics (MGNX) downgraded to Sell from Neutral at Citi with analyst Yigal Nochomovitz saying his re-examination of the prior Phase 1 data underpinning the ongoing Phase 3 SOPHIA trial has led him to revise his base case expectation to a failure for the trial. 5. Okta (OKTA) downgraded to Sector Weight from Overweight at KeyBanc with analyst Rob Owens saying that while the Street clearly anticipates meaningful upside to expectations, he believes many of the upside scenarios render shares fairly valued at current levels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/31/19
PIPR
01/31/19
NO CHANGE
Target $3
PIPR
Overweight
Aveo price target lowered to $3 on TIVO-3 update at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff lowered his price target for Aveo Pharmaceuticals to $3 from $5 given that the company now intends to report TIVO-3 overall survival data prior to filing the NDA for tivozanib, which could slip from 1H19 into Q4 of 2019 or early 2020. The analyst notes that the FDA stated preliminary OS data from the Phase III TIVO-3 trial in 3-line renal cell carcinoma did not remove concerns related to OS outlined in the 2013 Complete Response Letter. In addition, Aveo Pharmaceuticals updated that the OS hazard ratio worsened to 1.12 from 1.06 following inclusion of additional patients previously lost to follow up, he notes, adding that while worse, this HR is based on more patients, but still as of the October 4th cutoff. Tenthoff reiterates an Overweight rating on the shares.

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ACGL

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  • 25

    Mar

LYG

Lloyds Banking

$3.27

-0.115 (-3.40%)

15:27
03/21/19
03/21
15:27
03/21/19
15:27
Options
Puts lead calls 140:1 in Lloyds Banking as shares underperform sector »

Puts lead calls 140:1 in…

03/08/13
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IVZ

Invesco

$19.88

0.16 (0.81%)

15:21
03/21/19
03/21
15:21
03/21/19
15:21
Conference/Events
Invesco management to meet with Morgan Stanley »

Meeting to be held In New…

03/08/13
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  • 21

    Mar

  • 28

    Mar

BV

BrightView

$15.34

-0.23 (-1.48%)

15:20
03/21/19
03/21
15:20
03/21/19
15:20
Hot Stocks
BrightView under investigation for potential securities laws violations »

Thornton Law Firm…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
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Citigroup
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  • 26

    Mar

XHB

SPDR Homebuilders

$38.38

0.82 (2.18%)

15:20
03/21/19
03/21
15:20
03/21/19
15:20
Options
Aggressive call buying in SPDR Homebuilders Fund as the sector sees strength »

Aggressive call buying in…

03/08/13
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03/08/13
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03/06/13
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15:20
03/21/19
03/21
15:20
03/21/19
15:20
General news
Canada CPI preview »

Canada CPI preview:…

15:20
03/21/19
03/21
15:20
03/21/19
15:20
General news
Canada retail sales preview »

Canada retail sales…

DLAKY

Lufthansa

$0.00

(0.00%)

15:19
03/21/19
03/21
15:19
03/21/19
15:19
Conference/Events
Lufthansa management to meet with Morgan Stanley »

Meeting to be held in New…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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  • 28

    Mar

JEF

Jefferies Financial Group

$19.35

0.04 (0.21%)

15:19
03/21/19
03/21
15:19
03/21/19
15:19
Options
Jefferies Financial Group options imply 4.0% move in share price post-earnings, below median historical move »

Pre-earnings options…

03/08/13
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  • 28

    Mar

NEXA

Nexa Resources

$12.46

-0.22 (-1.74%)

15:17
03/21/19
03/21
15:17
03/21/19
15:17
Conference/Events
Nexa Resources management to meet with Morgan Stanley »

Meeting to be held in New…

03/08/13
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03/06/13
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  • 27

    Mar

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

15:17
03/21/19
03/21
15:17
03/21/19
15:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

03/08/13
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Credit Suisse
03/06/13
Citigroup
03/06/13
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$NYE

NYSE Market Internals

$0.00

(0.00%)

15:16
03/21/19
03/21
15:16
03/21/19
15:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

03/08/13
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03/06/13
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03/06/13
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15:15
03/21/19
03/21
15:15
03/21/19
15:15
General news
Canada CPI preview »

Canada CPI preview:…

SPY

SPDR S&P 500 ETF Trust

$284.73

3.29 (1.17%)

, SPX

S&P 500

$0.00

(0.00%)

15:14
03/21/19
03/21
15:14
03/21/19
15:14
Periodicals
DoubleLine's Gundlach surprised by Fed's dovish double-down, CNBC says »

DoubleLine Capital CEO…

SPY

SPDR S&P 500 ETF Trust

$284.73

3.29 (1.17%)

SPX

S&P 500

$0.00

(0.00%)

QQQ

Invesco QQQ Trust

$182.53

2.79 (1.55%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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TRI

Thomson Reuters

$57.40

0.64 (1.13%)

15:12
03/21/19
03/21
15:12
03/21/19
15:12
Conference/Events
Thomson Reuters management to meet with Morgan Stanley »

Meeting to be held in New…

03/08/13
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03/06/13
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  • 27

    Mar

15:10
03/21/19
03/21
15:10
03/21/19
15:10
General news
Treasury Closing Summary: »

Treasury Closing Summary:…

USB

U.S. Bancorp

$49.78

-0.59 (-1.17%)

, WFC

Wells Fargo

$49.91

-0.48 (-0.95%)

15:06
03/21/19
03/21
15:06
03/21/19
15:06
Hot Stocks
Bank stocks sit out rally, mirroring concern for broader economy »

Shares of financial…

USB

U.S. Bancorp

$49.78

-0.59 (-1.17%)

WFC

Wells Fargo

$49.91

-0.48 (-0.95%)

MS

Morgan Stanley

$43.45

0.425 (0.99%)

JPM

JPMorgan

$102.96

-1.58 (-1.51%)

C

Citi

$64.24

-0.05 (-0.08%)

GS

Goldman Sachs

$195.08

0.81 (0.42%)

BAC

Bank of America

$28.33

-0.3 (-1.05%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 26

    Mar

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    Apr

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    Apr

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    May

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    Jul

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    Oct

ZUO

Zuora

$24.08

0.36 (1.52%)

15:04
03/21/19
03/21
15:04
03/21/19
15:04
Options
Zuora options imply 16.5% move in share price post-earnings, below median historical move »

Pre-earnings options…

03/08/13
Wedge Partners
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Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 21

    Mar

  • 23

    Apr

SMG

Scotts Miracle-Gro

$79.39

2.27 (2.94%)

15:02
03/21/19
03/21
15:02
03/21/19
15:02
Hot Stocks
Scotts Miracle-Gro extends partnership with Major League Baseball »

The Scotts Company and…

03/08/13
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Citigroup
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  • 21

    Mar

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