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CELG

Celgene

$89.01

-0.61 (-0.68%)

, BMY

Bristol-Myers

$48.61

-0.31 (-0.63%)

10:32
03/22/19
03/22
10:32
03/22/19
10:32

Smith says Bristol-Myers bid values Celgene for 10 upcoming blockbusters

Starboard Value's Jeffrey Smith is speaking on CNBC.

CELG

Celgene

$89.01

-0.61 (-0.68%)

BMY

Bristol-Myers

$48.61

-0.31 (-0.63%)

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CELG Celgene
$89.01

-0.61 (-0.68%)

03/01/19
CANT
03/01/19
NO CHANGE
Target $100
CANT
Overweight
Celgene trading well below standalone company value, says Cantor Fitzgerald
Despite concerns about the Bristol-Myers (BMY) buyout deal closing in Q3, Celgene (CELG) at these levels is trading well below its value as a standalone company, Cantor Fitzgerald analyst Alethia Young tells investors in a research note. The analyst sees potential upside long-term for an independent Celgene, but views the deal closing as a positive for shareholders "after a volatile 18 months." She reiterates an Overweight rating on Celgene with a $100 price target. If the deal falls through, Young expects downside of $20 per share back to pre-deal announcement levels. However, she thinks there is more value to Celgene shares over time if the company remains independent.
03/13/19
BARD
03/13/19
NO CHANGE
Target $101
BARD
Outperform
Celgene 'still looks like best option' for Bristol-Myers, says Baird
Baird analyst Brian Skorney notes that on Tuesday, Bristol-Myers (BMY) CEO Giovanni Caforio, speaking at an investor conference, said the company has not had any serious suitors for the company and has not held talks since 2017, when there were no formal offers. In a research note to investors, Skorney says this commentary should help reframe investor expectations as far as what other options Bristol-Myers could explore should the Celgene (CELG) deal fall through, but says Celgene "still looks like the best option." Skorney has an Outperform rating and $101 price target on Celgene.
03/20/19
BMOC
03/20/19
NO CHANGE
Target $62
BMOC
Outperform
Bristol-Myers price target raised to $62 from $59 at BMO Capital
BMO Capital analyst Alex Arfaei raised his price target on Bristol-Myers (BMY) to $62 and kept his Outperform rating, saying its proposed Celgene (CELG) merger is the "right step at the right time." The analyst contends that the company needs to diversify its offerings because of the volatility in immuno-oncology and also boost its long term growth prospects because of the loss of exclusivity for its Eliquis and Opdivo products. Arfaei believes that the combined company will be "meaningfully more diversified and in a better position to fill patent cliffs during 2025-2030" period.
03/21/19
BARD
03/21/19
NO CHANGE
Target $250
BARD
Neutral
Biogen 'hate selling' could bring shares to low $200s, says Baird
Baird analyst Brian Skorney lowered his price target for Biogen (BIIB) to $250 from $348 on the failure of aducanumab in Alzheimer's disease. The analyst feels the big question now is, "where is the backstop?" Biogen without the upside potential of Alzheimer's looks a lot like Celgene (CELG) circa 2018, Skorney tells investors in a research note. He thinks investors "will have a hard time seeing anything but risk." The analyst maintains a Neutral rating on Biogen. However, he sees a potential scenario where "hate selling leads to an attractive entry point in the low $200s." The stock in premarket trading s down 27%, or $86.79, to $233.80. Biogen shares "become buyable" in the low $200s, where the company could attract potential suitors, says Skorney.
BMY Bristol-Myers
$48.61

-0.31 (-0.63%)

02/28/19
WBLR
02/28/19
NO CHANGE
WBLR
William Blair believes Celgene takeover will ultimately close
William Blair analyst Andy Hsieh says that despite recent negative news flow, he believes Celgene's (CELG) takeover by Bristol-Myers (BMY) will ultimately close by the end of Q3. Despite the headline risk that could contribute to near-term stock volatility from major Bristol shareholders like Wellington Management and Starboard Value, the deal contains favorable terms for shareholders from both companies, Hsieh tells investors in a research note. Further, he believes it is unlikely that a third-party large-cap pharmaceutical company will emerge with an offer for Bristol-Myers before the shareholder meeting. As a result, the analyst expects Celgene shares "will eventually narrow the valuation gap with respect to its fair value," or one share of Bristol plus $50 per share in cash. Hsieh reiterates an Outperform rating on Celgene.

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MMNFF

MedMen

$0.00

(0.00%)

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TKC

Turkcell

$5.49

-0.175 (-3.09%)

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FCCY

1st Constitution Bancorp

$18.07

-0.14 (-0.77%)

11:05
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Earnings
1st Constitution Bancorp reports Q1 EPS 39c, two estimates 36c »

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QUMU

Qumu

$2.83

-0.035 (-1.22%)

11:03
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Qumu announces death of director Thomas Madison »

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FAT

Fat Brands

$5.15

0.065 (1.28%)

10:54
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04/19
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Fat Brands announces development of Fatburger concept in Albuquerque »

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HRTG

Heritage Insurance

$14.32

0.25 (1.78%)

10:52
04/19/19
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Heritage Insurance announces preliminary Q1 catastrophe losses of $15.4M »

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COTY

Coty

$11.27

0.02 (0.18%)

10:48
04/19/19
04/19
10:48
04/19/19
10:48
Hot Stocks
Coty notes extension of tender offer by affiliate of JAB Holding Company »

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NTES

NetEase

$265.88

-2.34 (-0.87%)

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NetEase announces music license agreement with Nippon Columbia »

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09:10
04/19/19
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09:10
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General news
Today's U.S. housing report revealed March declines »

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08:45
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General news
U.S. housing starts fell 0.3% to 1.139 M in March »

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08:15
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General news
Housing Starts to be reported at 08:30 »

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08:15
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General news
Housing Starts Permits to be reported at 08:30 »

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08:05
04/19/19
04/19
08:05
04/19/19
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General news
U.S. housing starts preview: »

U.S. housing starts…

NDEKY

Nitto Denko

$0.00

(0.00%)

06:53
04/19/19
04/19
06:53
04/19/19
06:53
Downgrade
Nitto Denko rating change at Goldman Sachs »

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CURO

Curo Group

$10.96

0.16 (1.48%)

04:55
04/19/19
04/19
04:55
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04:55
Conference/Events
Curo Group management to meet with Jefferies »

Meeting to be held in…

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AON

Aon plc

$175.38

-0.14 (-0.08%)

, MMC

Marsh & McLennan

$93.76

-0.62 (-0.66%)

04:55
04/19/19
04/19
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Conference/Events
Willis Towers Watson »

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AON

Aon plc

$175.38

-0.14 (-0.08%)

MMC

Marsh & McLennan

$93.76

-0.62 (-0.66%)

WLTW

Willis Towers Watson

$177.37

0.45 (0.25%)

03/08/13
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04:55
04/19/19
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04:55
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General news
Housing Starts to be reported at 08:30 »

March Housing Starts will…

ISRG

Intuitive Surgical

$528.04

3.29 (0.63%)

21:07
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Recommendations
Intuitive Surgical analyst commentary at Piper Jaffray »

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UBER

Uber

$0.00

(0.00%)

, TM

Toyota

$125.10

0.93 (0.75%)

20:35
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Uber confirms investment from Toyota, DENSO and SoftBank Vision Fund »

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UBER

Uber

$0.00

(0.00%)

TM

Toyota

$125.10

0.93 (0.75%)

DNZOY

Denso

$0.00

(0.00%)

SFTBF

SoftBank

$0.00

(0.00%)

03/08/13
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  • 05

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FIX

Comfort Systems USA

$57.58

0.06 (0.10%)

20:08
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Comfort Systems USA discloses ransomware attack virus »

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NSANY

Nissan

$0.00

(0.00%)

, RNSDF

Renault

$0.00

(0.00%)

19:29
04/18/19
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19:29
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Periodicals
Nissan to cut global output by 15% in FY19/20, Nikkei reports »

Nissan Motor (NSANY) will…

NSANY

Nissan

$0.00

(0.00%)

RNSDF

Renault

$0.00

(0.00%)

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FE

FirstEnergy

$40.51

0.28 (0.70%)

19:13
04/18/19
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Hot Stocks
FirstEnergy CEO 'pleased' FES submitted revised disclosure statement »

FirstEnergy Corp.…

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