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CYTK

Cytokinetics

$7.52

-0.17 (-2.21%)

, AMGN

Amgen

$187.14

0.17 (0.09%)

14:27
02/20/19
02/20
14:27
02/20/19
14:27

Piper reiterates Overweight rating on Cytokinetics after Amgen starts study

After Cytokinetics (CYTK) announced that partner Amgen (AMGN) has initiated a Phase 1 study of cardiac troponin activator AMG 594, Piper Jaffray analyst Edward Tenthoff said he envisions the two developing AMG 594 in heart failure with reduced ejection fraction, or HFrEF. The analyst, who noted he awaits the futility analysis of the Phase 3 GALACTIC-HF trial of omecamtiv mecarbil in HFrEF patients, which is expected to be reported in the first half of the year, reiterated an Overweight rating and $12 price target on Cytokinetics shares.

CYTK

Cytokinetics

$7.52

-0.17 (-2.21%)

AMGN

Amgen

$187.14

0.17 (0.09%)

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    Mar

CYTK Cytokinetics
$7.52

-0.17 (-2.21%)

10/05/18
MSCO
10/05/18
NO CHANGE
Target $10
MSCO
Equal Weight
Cytokinetics' reldesemtiv Phase 2 miss not a surprise, says Morgan Stanley
After Cytokinetics and partner Astellas announced that their Phase 2 study of reldesemtiv in COPD did not meet the primary endpoint and did not demonstrate a significant difference in any secondary endpoints, Morgan Stanley analyst Jeffrey Hung said he was not surprised by the "disappointing" results since Cytokinetics management has been suggesting for at least a month that the results from both COPD and frailty would be used to guide development of another compound rather than reldesemtiv. The upcoming R&D Day will focus on the cardiac muscle franchise, added Hung, who keeps an Equal Weight rating and $10 price target on Cytokinetics shares.
10/05/18
PIPR
10/05/18
NO CHANGE
Target $13
PIPR
Overweight
Piper focus for Cytokinetics remains ALS, SMA after reldesemtiv fails in COPD
After Cytokinetics and partner Astellas announced that reldesemtiv failed in a Phase 2 study in COPD and Phase 1b in frailty, Piper Jaffray analyst Edward Tenthoff noted that he had not valued reldesemtiv in either of these indications. The analyst, who said he remains focused on the indications of Spinal Muscular Atrophy and Amyotrophic Lateral Sclerosis, keeps an Overweight rating and $13 price target on Cytokinetics shares.
10/05/18
HCWC
10/05/18
NO CHANGE
Target $21
HCWC
Buy
Cytokinetics price target lowered to $21 from $24 at H.C. Wainwright
H.C. Wainwright analyst Joseph Pantginis lowered his price target on Cytokinetics shares to $21 from $24 after partner Astellas reported that both primary and secondary endpoints were not met in a trial of reldesemtiv in COPD patients and another trial testing reldesemtiv in elderly frailty was discontinued. However, omecamtiv drives the "lion's share" of his valuation of Cytokinetics shares, said Pantginis. The analyst, who noted that the omecamtiv mecarbil pivotal programs are progressing as planned, keeps a Buy rating on the stock.
01/22/19
PIPR
01/22/19
NO CHANGE
Target $12
PIPR
Overweight
Piper reiterates Overweight on Cytokinetics after FDA accepts walk test
Cytokinetics announced this morning that the FDA has accepted 6-Minute Walk Test as an acceptable primary endpoint for ambulatory spinal muscular atrophy patients and recommended a global function score such as Hammersmith Functional Motor Scale - Extended as a secondary endpoint, Piper Jaffray analyst Edward Tenthoff tells investors in a research note. The analyst reiterates an Overweight rating on Cytokinetics with a $12 price target. He points out the company will conduct additional Phase I studies of higher doses of reldesemtiv before returning to SMA patients.
AMGN Amgen
$187.14

0.17 (0.09%)

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.
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.
02/20/19
MSCO
02/20/19
NO CHANGE
Target $215
MSCO
Overweight
Amgen could fall over 10% if Sandoz wins Enbrel IP case, says Morgan Stanley
Morgan Stanley analyst Matthew Harrison noted that a District Court verdict is expected some time in Q1 of 2019 on the ability of Novartis' (NVS) generics division Sandoz to launch their Enbrel biosimilar, Erelzi, which received FDA approval in mid-2016 but has been blocked by a preliminary injunction obtained by Amgen (AMGN). In a scenario where the court rules in favor of Amgen, he would expect upside of 3%-5% for Amgen shares and he would expect AbbVie (ABBV) to trade up 1%-2% in sympathy. If the court rules in favor of Sandoz, Harrison would expect downside of over 10% for Amgen and would expect AbbVie shares to trade down 6%-8%. If the companies announce a settlement, he would expect 1%-2% upside for Amgen and a minimal impact on AbbVie shares, Harrison tells investors. His base case view is that the ruling is likely to be in favor of Amgen, noted Harrison, who keeps an Overweight rating on Amgen.

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AT

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AMZN

Amazon.com

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Inphi

$60.78

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KHC

Kraft Heinz

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KHC

Kraft Heinz

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LXRX

Lexicon

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CHD

Church & Dwight

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Cadence Bancorp

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FTK

Flotek

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ERIE

Erie Indemnity

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HES

Hess Corp.

$65.75

0.03 (0.05%)

RH

RH

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-0.1 (-0.06%)

CERN

Cerner

$68.47

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BRC

Brady

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SPOT

Spotify

$121.52

0.795 (0.66%)

13:25
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Spotify call volume above normal and directionally bullish »

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AMD

AMD

$30.62

0.58 (1.93%)

13:24
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AMD up 2% to $30.64 in afternoon trading »

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$NSD

NASDAQ Market Internals

$0.00

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13:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

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13:16
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NYSE market internals summary »

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General news
Fed's Bullard said the Committee might opt to ease again »

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NVO

Novo Nordisk

$53.06

0.11 (0.21%)

13:05
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13:05
Options
Novo Nordisk call volume above normal and directionally bullish »

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IPHI

Inphi

$60.80

-2.69 (-4.24%)

, AMZN

Amazon.com

$1,789.48

-4.16 (-0.23%)

12:59
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Inphi drops after Northland sees 'large cut' to Amazon 400G rollout plans »

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IPHI

Inphi

$60.80

-2.69 (-4.24%)

AMZN

Amazon.com

$1,789.48

-4.16 (-0.23%)

CSCO

Cisco

$49.59

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ACIA

Acacia Communications

$64.58

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LITE

Lumentum

$57.55

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NPTN

NeoPhotonics

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HUYA

Huya

$27.43

-0.47 (-1.68%)

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HUYA put volume heavy and directionally bearish »

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NLY

Annaly Capital

$9.02

0.06 (0.67%)

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Annaly Capital call volume above normal and directionally bullish »

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TRT

Trio-Tech

$3.79

0.08 (2.16%)

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IPHI

Inphi

$61.21

-2.28 (-3.59%)

12:43
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Inphi analyst commentary  »

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TRT

Trio-Tech

$3.79

0.08 (2.16%)

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Trio-Tech reports Q4 EPS 12c vs. 17c last year »

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BA

Boeing

$377.77

-1.56 (-0.41%)

, ERJ

Embraer

$18.27

-0.46 (-2.46%)

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12:37
Periodicals
Boeing bid of Embraer unit faces EU antitrust probe, Reuters reports »

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BA

Boeing

$377.77

-1.56 (-0.41%)

ERJ

Embraer

$18.27

-0.46 (-2.46%)

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OBAS

Optibase

$12.50

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LLY

Eli Lilly

$114.56

-1.6 (-1.38%)

12:35
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Eli Lilly put volume heavy and directionally bearish »

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AEM

Agnico Eagle

$59.23

1.02 (1.75%)

12:32
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Agnico Eagle management to meet with RBC Capital »

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TRT

Trio-Tech

$3.79

0.08 (2.16%)

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Breaking Hot Stocks news story on Trio-Tech »

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CDE

Coeur Mining

$5.65

0.38 (7.21%)

12:25
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Coeur Mining call volume above normal and directionally bullish »

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