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SIEN

Sientra

$9.85

0.095 (0.97%)

, JNJ

Johnson & Johnson

$138.09

0.86 (0.63%)

07:57
03/22/19
03/22
07:57
03/22/19
07:57

Breast implant panel documents in-line with expectations, says Canaccord

Canaccord analyst Kyle Rose maintains his Buy rating on Sientra (SIEN) following the release of briefing documents ahead of next week's FDA panel meeting to review a range of topics related to the long-term benefits and risks of breast implants, stating that the documents appear to be in-line with expectations and do not appear to raise any materially new or concerning questions or data. However, given the warning letters sent this week to Sientra and J&J's (JNJ) Mentor unit, Rose said he expects the FDA to "take a strong tone" during the panel about the responsibility to support the collection and analysis of relevant safety and efficacy clinical data. Other makers of breast implants include Allergan (AGN) and Establishment Labs (ESTA).

SIEN

Sientra

$9.85

0.095 (0.97%)

JNJ

Johnson & Johnson

$138.09

0.86 (0.63%)

AGN

Allergan

$153.54

-0.13 (-0.08%)

ESTA

Establishment Labs

$27.13

-0.77 (-2.76%)

  • 25

    Mar

  • 16

    Apr

  • 25

    Apr

  • 18

    May

SIEN Sientra
$9.85

0.095 (0.97%)

03/14/19
WELS
03/14/19
INITIATION
Target $9
WELS
Market Perform
Sientra initiated with a Market Perform at Wells Fargo
Wells Fargo analyst David Maris started coverage of Sientra with a Market Perform rating and a $9 price target. The analyst says he is on the sidelines given the FDA is holding meetings on March 25-26 to discuss breast implant safety and the result could be increased monitoring and warnings, which could have a negative impact on costs and volumes.
03/19/19
WELS
03/19/19
NO CHANGE
Target $9
WELS
Market Perform
Sientra implied costs to gain FDA compliance negligible, says Wells Fargo
Wells Fargo analyst David Maris kept his Market Perform rating and $9 price target on Sientra after the company disclosed an FDA warning letter for failure to comply with the post-approval study requirements for its silicone gel breast implants. The analyst notes that he spoke with the management, and they believe that the FDA is targeting a patient follow-up rate of 65% at the end of 10 years after the study vs. the company's current 61% at year 3. Maris adds that given about 5K patients in the study with $100-$200 implied cost per patient, the required incremental cost to address FDA concerns is "negligible" relative to the company's current operating expenses.
03/13/19
SPHN
03/13/19
NO CHANGE
Target $26
SPHN
Overweight
Sientra growth outlook remains effectively on-track, says Stephens
Stephens analyst Chris Cooley reiterated his Overweight rating and $26 price target on Sientra shares following the company's Q4 report, contending that its growth outlook "remains effectively on-track." He still thinks investors should accumulate the shares at "historically trough multiples in med tech" to benefit from the expected acceleration in growth during the second half of 2019, Cooley tells investors in a post-earnings research note.
03/13/19
STFL
03/13/19
NO CHANGE
Target $16
STFL
Buy
Sientra price target lowered to $16 after quarterly results at Stifel
Stifel analyst Jonathan Block lowered his price target lowered to $16 from $19 saying that while Q4 results were largely known, the company provided a tempered first half of 2019 outlook. The analyst notes that Sientra had already preannounced Q4 results in January, but points out that there were a couple of incremental data points on the conference call that may exert some near-term pressure on the stock, including recent headlines surrounding ALCL and textured implants that have pressured the number of Plastic Surgeon breast augmentation consultations in Q1, which may continue into Q2. Nonetheless, Block reiterates a Buy rating on the shares.
JNJ Johnson & Johnson
$138.09

0.86 (0.63%)

03/15/19
FBCO
03/15/19
NO CHANGE
FBCO
Outperform
J&J talc risk more than accounted for in current valuation, says Credit Suisse
Credit Suisse analyst Vamil Divan said a $29M jury award to a woman who claimed that asbestos in baby powder led to her development of mesothelioma has brought potential litigation risk for Johnson & Johnson back into the headlines. However, he spoke to Johnson & Johnson and they remain confident in the safety of their product, stating that they plan to appeal and feel there were serious procedural and evidentiary errors made in the trial. Divan, who believes the potential risk from talc cases has been "more than sufficiently accounted for" in the current valuation of J&J shares, also thinks that multiple ongoing cases will hopefully lead to more clarity soon. He keeps an Outperform rating on Johnson & Johnson shares.
03/15/19
BARD
03/15/19
NO CHANGE
BARD
Stryker, Wright Medical best positioned in medical robotics, says Baird
Following meetings at American Academy of Orthopaedic Surgeons this week, Baird analyst Jeff Johnson said that Stryker (SYK) remained the "clear robotics leader," and added that Smith & Nephew (SNN), Zimmer Biomet (ZBH), and to a lesser extent Johnson & Johnson (JNJ) were all "making progress." The analyst came away most positive on Stryker, due to momentum in multiple pipelines, and Wright Medical (WMGI), due to its core business strength and its intriguing pipeline. Johnson has an Outperform rating and $201 price target on Stryker, and Outperform rating and $36 price target on Wright Medical Group.
02/25/19
COWN
02/25/19
NO CHANGE
Target $155
COWN
Outperform
Johnson & Johnson 2019 targets appear achievable, says Cowen
Cowen analyst Joshua Jennings believes the top and bottom line targets for Johnson & Johnson are achievable while the "crown jewel" Pharma franchise is well positioned to reaccelerate in 2020 and beyond. He also believes the company's talc issues are manageable. Jennings reiterated his Outperform rating and $155 price target on Johnson & Johnson shares.
02/27/19
CHDN
02/27/19
NO CHANGE
Target $40
CHDN
Buy
MeiraGTx price target raised to $40 from $30 at Chardan
Chardan analyst Gbola Amusa raised his price target for MeiraGTx Holdings (MGTX) to $40 from $30 following Johnson & Johnson's equity stake in the company. MeiraGTx , a top pick for 2019 at Chardan, announced a strategic collaboration on inherited retinal diseases with J&J's Janssen Pharmaceuticals and an $80M private placement, with the investment arm of J&J taking a $40M stake, Amusa tells investors in a research note. The news represents the third announced collaboration or investment by a J&J vehicle in MeiraGTx, the analyst points out. This may signal potential takeover interest by J&J longer term and suggests the pharma giant sees significant value in the inherited retinal diseases market opportunities, contends Amusa. He keeps a Buy rating on MeiraGTx.
AGN Allergan
$153.54

-0.13 (-0.08%)

03/18/19
PIPR
03/18/19
NO CHANGE
Target $75
PIPR
Overweight
Biohaven priority review purchase could bring 2019 approval, says Piper Jaffray
Biohaven Pharmaceutical's purchase of a priority review voucher puts rimegepant orally dissolving tablet on track for a potential approval by year-end, Piper Jaffray analyst Tyler Van Buren tells investors in a research note. Depending on when the new drug application is filed over the next four months, a rimegepant approval could potentially leapfrog Allergan's (AGN) ubrogepant, says the analyst. He views rimegepant as the "best-in-class oral CGRP" and keeps an Overweight rating on Biohaven with a $75 price target.
03/19/19
RHCO
03/19/19
INITIATION
Target $178
RHCO
Buy
Allergan initiated with a Buy at SunTrust
SunTrust analyst Gregg Gilbert initiated Allegran with a Buy rating and a price target of $178. The analyst states that while the stock has been underperforming, he also sees it as inexpensive with valuation reflecting competitive threats to franchises. Gilbert believes that Allergan offers an "attractive return potential over the next 12+ months if the company continues to meet or exceed its financial targets".
03/19/19
RHCO
03/19/19
INITIATION
Target $29
RHCO
Buy
Evolus assumed with a Buy at SunTrust
SunTrust transferred coverage of Evolus (EOLS) to analyst Gregg Gilbert, who established a Buy rating and $29 price target on the stock. The analyst cites the company preparing to enter the US botulinum toxin market, adding that with Jeuveau "de-risked from a regulatory standpoint following FDA approval", investor focus will shift to the near-term launch of "frictionless alternative" to market-leading Botox from Allergan (AGN). Gilbert contends that Evolus could carve a "nice slice of this rapidly-growing market".
03/20/19
PIPR
03/20/19
NO CHANGE
Target $161
PIPR
Neutral
Piper Jaffray questions value creation of potential Allergan break up
There is some thought among investors that a separation of Allergan (AGN) into its global medical aesthetics business and its pharma business should unlock significant value, Piper Jaffray analyst David Amsellem tells investors in a research note titled "A Break Up Is By No Means A Panacea; Staying Cautious." The analyst's questions this thinking, saying this course of action "cannot paper over the challenges" facing both businesses. His sum-of-the-parts analyses suggest that a break-up "would confer only modest value creation." And even that may not be sustainable as competitive challenges surrounding Botox and losses of exclusivities beyond Restasis come into focus, contends Amsellem. "Simply put, a separation in and of itself is not the transformative change we would be looking for," says the analyst. He reiterates a Neutral rating on Allergan with a $161 price target.
ESTA Establishment Labs
$27.13

-0.77 (-2.76%)

08/13/18
BTIG
08/13/18
INITIATION
Target $35
BTIG
Buy
Establishment Labs initiated with a Buy at BTIG
BTIG analyst Sean Lavin initiated Establishment Labs with a Buy rating and a price target of $35, saying he expects the company's Motiva portfolio to be a "channel disruptor" in the breast implant market given its "natural feel and impressive safety profile". The analyst expects Establishment Labs' "continued geographic expansion and momentum in Brazil" to produce above-average revenue growth in the near-term, while noting that the company's biggest risks are "competition and sustainability of exceptional outcomes".
12/19/18
JEFF
12/19/18
NO CHANGE
Target $35
JEFF
Buy
Establishment may benefit from Allergan breast implant issue, says Jefferies
Jefferies analyst Raj Denhoy noted that Allergan's (AGN) CE mark for textured breast implants was not renewed and the products can no longer be distributed in the EU and other markets, which he believes could benefit Establishment Labs (ESTA) given its better surface technology. Allergan's textured share in EU is a $100M opportunity, even a portion of which would be significant for Establishment considering a $60M forecast for 2018 revenues, said Denhoy. He keeps a Buy rating and $35 price target on Establishment Labs shares.
11/14/18
BTIG
11/14/18
NO CHANGE
Target $40
BTIG
Buy
Establishment Labs price target raised to $40 from $35 at BTIG
BTIG analyst Sean Lavin raised his price target on Establishment Labs to $40 and kept his Buy rating after its Q3 revenue came in well above expectations. The analyst states the top-line strength was driven by the momentum in Brazil and the Scandinavian countries, with the company having accessed nearly a quarter of the former's plastic surgeons in just over a year of market presence. Lavin adds that Establishment Labs' gross margin of 62%, driven by manufacturing leverage and higher average selling price, was also a positive, even though he believes that the company can do even better over the coming "couple of quarters".
08/14/18
08/14/18
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. Hudbay Minerals (HBM) reinstated with a Neutral at BofA/Merrill. 2. Establishment Labs (ESTA) initiated with a Buy at BTIG and Jefferies and an Outperform at Cowen. 3. Yext (YEXT) initiated with a Buy at SunTrust. 4. Akebia (AKBA) initiated with an Outperform at Raymond James. 5. Replimune Group (REPL) was initiated with an Outperform at Leerink and BMO Capital as well as an Overweight at JPMorgan. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

SAM

Boston Beer

$345.20

-6.42 (-1.83%)

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LYFT

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SDXAY

Sodexo

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AJG

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Autoliv

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PSTV

Plus Therapeutics

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TELL

Tellurian

$8.69

0.105 (1.22%)

RKDA

Arcadia Biosciences

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CLF

Cleveland-Cliffs

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U.S. Steel

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AKS

AK Steel

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ABMD

Abiomed

$193.14

0.48 (0.25%)

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MU

Micron

$49.17

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CRUS

Cirrus Logic

$54.36

-0.59 (-1.07%)

, NXPI

NXP Semiconductors

$104.69

-3.74 (-3.45%)

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Cirrus Logic

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NXP Semiconductors

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TXN

Texas Instruments

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NFLX

Netflix

$270.66

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Roku

$107.98

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08:55
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NFLX

Netflix

$270.66

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ROKU

Roku

$107.98

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BAC

Bank of America

$29.57

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AAPL

Apple

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-3.22 (-1.46%)

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SABR

Sabre

$23.11

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Dollar General

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CLF

Cleveland-Cliffs

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INPX

Inpixon

$0.13

0.0013 (0.98%)

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NY Fed's repo results: Fed's repo totaled $65.75 B »

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CGNX

Cognex

$48.20

-2.28 (-4.52%)

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AA

Alcoa

$21.70

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AA

Alcoa

$21.70

-0.26 (-1.18%)

X

U.S. Steel

$10.81

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CMC

Commercial Metals

$17.94

-0.42 (-2.29%)

NUE

Nucor

$52.62

-0.08 (-0.15%)

STLD

Steel Dynamics

$30.38

-0.32 (-1.04%)

STZHF

Stelco Holdings

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ABEO

Abeona Therapeutics

$3.26

-0.005 (-0.15%)

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  • 02

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FNB

F.N.B.

$11.38

-0.045 (-0.39%)

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  • 13

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Resverlogix to present BETonMACE trial results at AHA Scientific Sessions »

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PRSP

Perspecta

$26.29

-0.005 (-0.02%)

08:46
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Perspecta awarded $657M extension of NGEN contract with U.S. Dept. of Navy »

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AAPL

Apple

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08:45
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Apple partners with Oprah Winfrey to bring Oprah's Book Club to Apple »

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BYND

Beyond Meat

$155.23

0.19 (0.12%)

, HEXO

HEXO Corp

$4.37

0.425 (10.79%)

08:45
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Options
Largest borrow rate increases among liquid names »

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BYND

Beyond Meat

$155.23

0.19 (0.12%)

HEXO

HEXO Corp

$4.37

0.425 (10.79%)

FCAU

Fiat Chrysler

$13.52

-0.11 (-0.81%)

ABBV

AbbVie

$72.46

0.78 (1.09%)

QSR

Restaurant Brands

$72.64

-1.24 (-1.68%)

COTY

Coty

$10.17

-0.1 (-0.97%)

ADI

Analog Devices

$115.30

-0.72 (-0.62%)

NOK

Nokia

$5.30

0.145 (2.81%)

IMMU

Immunomedics

$16.60

-0.44 (-2.58%)

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U.S. Chicago National Activity index rose 0.51 points to 0.10 in August »

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