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MYGN

Myriad Genetics

$31.68

-1.11 (-3.39%)

, AZN

AstraZeneca

$41.08

-0.82 (-1.96%)

07:11
04/04/19
04/04
07:11
04/04/19
07:11

Myriad, AstraZeneca, Merck expand companion diagnostic partnership

Myriad Genetics (MYGN) announced that it has expanded its companion diagnostic collaboration with AstraZeneca (AZN) and Merck (MRK). Under the expanded collaboration, the companies will use BRACAnalysis CDx to identify germline BRCA mutations in men who have metastatic castrate-resistant prostate cancer and are enrolled in the Phase III PROfound study. If the study is successful, Myriad intends to file a supplementary premarket approval application with U.S. FDA for BRACAnalysis CDx to be used as a companion diagnostic to Lynparza for its use in this patient population.

MYGN

Myriad Genetics

$31.68

-1.11 (-3.39%)

AZN

AstraZeneca

$41.08

-0.82 (-1.96%)

MRK

Merck

$83.17

0.02 (0.02%)

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MYGN Myriad Genetics
$31.68

-1.11 (-3.39%)

04/01/19
PIPR
04/01/19
NO CHANGE
PIPR
Overweight
Myriad traded lower on 'minor' United Healthcare change, says Piper Jaffray
Shares of Myriad Genetics closed Friday down 4% after United Healthcare (UNH) added a Current Procedural Terminology code and simplified the coverage rationale on its existing medical policy for pharmacogenetics, Piper Jaffray analyst William Quirk tells investors in a research note. The updated policy does not include a review of the Genesight dossier/Guided study, says the analyst. He views the change at United Healthcare as "minor" and keeps an Overweight rating on Myriad Genetics. Quirk continues to look for positive Genesight coverage.
03/14/19
PIPR
03/14/19
NO CHANGE
Target $47
PIPR
Overweight
Myriad Genetics on cusp of positive news events, says Piper Jaffray
After hosting investor meetings with management, Piper Jaffray analyst William Quirk believes Myriad Genetics (MGN) is "on the cusp of several positive news events." Management is optimistic that they could get a draft local coverage determinations for expanded GeneSight coverage by Medicare, Quirk tells investors in a research note. He expects visibility on this by late March. Further, the analyst believes Counsyl's April 1 in-network status with UnitedHealth (UNH) could lead to $6M-$7M upside to his current Q4 estimates. Quirk reiterates an Overweight rating on Myriad Genetics with a $47 price target.
03/12/19
NEED
03/12/19
NO CHANGE
Target $41
NEED
Strong Buy
Myriad Genetics price target raised to $41 from $37 at Needham
Needham analyst Stephen Unger raised his price target on Myriad Genetics to $41 and kept his Strong Buy rating after meeting with its management last week to discuss the company's short and long term issues and opportunities. The analyst says the discussions have left him "incrementally bullish" on the stock given its "potential for meaningful revenues from expanded commercial payor coverage of GeneSight and Foresight". Unger is also positive on the company's "promising incremental opportunity in melanoma testing through myPath Melanoma".
01/04/19
COWN
01/04/19
UPGRADE
COWN
Outperform
Myriad Genetics upgraded to Outperform from Market Perform at Cowen
AZN AstraZeneca
$41.08

-0.82 (-1.96%)

04/01/19
COWN
04/01/19
UPGRADE
Target $48
COWN
Outperform
Cowen upgrades AstraZeneca to Outperform after cancer partnership pullback
As previously reported, Cowen analyst Steve Scala upgraded AstraZeneca to Outperform from Market Perform, stating that the 5% stock decline on news of the company's partnership with Daiichi Sankyo for trastuzumab deruxtecan, which he calls a "promising" breast cancer drug, offers a compelling entry point. Key opinion leading doctors he speaks with anticipate use of trastuzumab deruxtecan in many patients with metastatic HER2+ disease, while low HER2+ "shows promise but requires more data," said Scala. Meanwhile, Imfinzi, Tagrisso and Lynparza all have "big potential" and Roxadustat "offers upside," the analyst tells investors. He raised his price target on AstraZeneca shares to $48 from $42.
04/02/19
UBSW
04/02/19
DOWNGRADE
UBSW
Sell
AstraZeneca downgraded to Sell from Neutral at UBS
UBS analyst Michael Leuchten downgraded AstraZeneca to Sell from Neutral and lowered his price target for the shares to GBP 54 from GBP 59. Last week's oncology deal with Japan's Daiichi Sankyo suggests limited cash generation in the near term and is a sign of slow margin recovery, Leuchten tells investors in a research note. He believes AstraZeneca can't generate enough cash flow to support its current enterprise value.
04/02/19
04/02/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AstraZeneca (AZN) downgraded to Sell from Neutral at UBS with analyst Michael Leuchten saying last week's oncology deal with Japan's Daiichi Sankyo suggests limited cash generation in the near term and is a sign of slow margin recovery. 2. Alcoa (AA) downgraded to Neutral from Outperform at Credit Suisse with analyst Curt Woodworth saying China is set to accelerate supply growth over the next several years as capacity swaps convert to new smelters and provincial focus pivots to growth model. 3. Pacific Biosciences (PACB) downgraded to Equal Weight from Overweight at Stephens with analyst Drew Jones saying the shares are within 10% of the looming purchase price by Illumina (ILMN). 4. Wingstop (WING) downgraded to Neutral from Buy at Guggenheim with analyst Matthew DiFrisco saying he sees increased risk to moderating new store growth and the current valuation multiple. 5. DowDuPont (DWDP) downgraded to Neutral from Buy at Citi and BofA/Merrill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/01/19
04/01/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. UPS (UPS) upgraded to Buy from Hold at Berenberg with analyst Joel Spungin saying he is increasingly confident that UPS will deliver margin improvement in both its International business and the U.S. this year, following an in-depth review of European parcel markets. 2. AstraZeneca (AZN) upgraded to Outperform from Market Perform at Cowen with analyst Steve Scala saying the 5% stock decline on news of the company's partnership with Daiichi Sankyo for trastuzumab deruxtecan, which he calls a "promising" breast cancer drug, offers a compelling entry point. 3. Energizer (ENR) upgraded to Conviction Buy from Neutral at Goldman Sachs with analyst Jason English saying he sees a credible path to top-tier EBIT, EBITDA and EPS growth over the next three years "fueled almost entirely" by debt-reduction and synergies from its recently completed deals for the Global Battery & Lighting business and Global Auto Care business of Spectrum Brands (SPB). 4. Anadarko (APC) resumed with a Buy from Neutral at Citi with analyst Robert Morris citing the stock's underperformance over the past three months and the company's recent success in the Delaware Basin for the upgrade. 5. F5 Networks (FFIV) upgraded to Buy from Neutral at Nomura Instinet with analyst Jeffrey Kvaal saying "long an out-of-favor name," F5 shares are now ~25% below their 2018 peak following the acquisition of Nginx. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
MRK Merck
$83.17

0.02 (0.02%)

03/11/19
WBLR
03/11/19
NO CHANGE
WBLR
Outperform
William Blair sum-of-the-parts analysis yields $19.80 value for Pfenex
The majority of Pfenex (PFNX) investor focus has been placed on lead asset PF708, the therapeutic equivalent product candidate to Forteo, William Blair analyst Andy Hsieh tells investors in a research note, citing his talks with clients. The analyst, however, sees "potential for significant value" from the company's collaboration with Jazz Pharmaceuticals (JAZZ). The deal with Jazz could provide patients with an alternative to Erwinaze/Erwinase, which currently suffers from significant supply constraints, and CRM197, a carrier protein that is incorporated as an adjuvant in several vaccine candidates, including Merck's (MRK) pneumococcal vaccine, V114, Hsieh writes. Based on these royalties, the analyst conducted a sum-of-the-parts analysis for Pfenex based on discounted cash flow, and the resulting net present value yielded a value of $19.80 per share. The stock closed Monday at $4.26. The analyst believes the company's "value-creating" catalysts this year, including milestone payment from Jazz for the successful tech transfer of PF743 and PF745 and the approval of PF708, coupled with his valuation analysis, affirm his bullish thesis. Hsieh believes Pfenex shares offer one of the best risk/reward symmetries in small-cap biotech and reiterates an Outperform rating on the name.
03/13/19
CANT
03/13/19
NO CHANGE
Target $95
CANT
Overweight
Merck opportunity in China is underappreciated, says Cantor Fitzgerald
After taking a deeper look at the Chinese PD-1 market, Cantor Fitzgerald analyst Louise Chen believes it could equate to billions of sales that are not yet in the forecasts for Merck's Keytruda. She thinks the peak sales potential of PD-1s in China remains underappreciated. China's pharma market can grow to $225B by 2025, which would support a growing PD-1/PD-L1 market, Chen tells investors in a research note titled "Deep Dive into China: A Complicated but Underappreciated Opportunity." The analyst keeps an Overweight rating on Merck with a $95 price target.
03/20/19
SBSH
03/20/19
NO CHANGE
SBSH
Bayer shares likely to remain 'depressed' pending trial success, says Citi
While sentiment will "clearly take a knock" at the second Roundup trial going against Bayer (BAYRY), both verdicts were delivered by juries in California and EUR 22B of litigation risk is already priced into the shares, Citi analyst Peter Verdult tells investors in a research note. The analyst says his legal checks continue to instruct him to be more focused on the upcoming Hall vs. Monsanto trial being held in St Louis from April 1. He says that verdict will better determine whether his estimate of a potential settlement liability of $1B-$6B needs to be refined. However, Bayer shares will "likely remain depressed" until there is evidence of the company prevailing in one or more of the six cases to go to trial in 2019, Verdult contends. He keeps a Buy rating on the stock but prefers other Pharma plays AstraZeneca (AZN), Sanofi (SNY), Novartis (NVS) and Merck (MRK).
02/22/19
CANT
02/22/19
INITIATION
Target $95
CANT
Overweight
Merck initiated with an Overweight at Cantor Fitzgerald
Cantor Fitzgerald analyst Louise Chen started Merck with an Overweight rating and $95 price target. The company's sales growth across oncology, vaccines, animal health, and select hospital/specialty care products, as well as its margin expansion opportunities, are underappreciated at current share levels, Chen tells investors in a research note. She expects upward earnings revisions and multiple expansion in 2019 to drive Merck shares higher.

TODAY'S FREE FLY STORIES

LPL

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$8.35

-1.14 (-12.02%)

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TDOC

Teladoc

$54.67

0.32 (0.59%)

, HUM

Humana

$249.01

0.71 (0.29%)

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Teladoc, Humana analyst commentary at Baird »

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TDOC

Teladoc

$54.67

0.32 (0.59%)

HUM

Humana

$249.01

0.71 (0.29%)

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MPC

Marathon Petroleum

$60.06

-0.94 (-1.54%)

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Marathon Petroleum call volume above normal and directionally bullish »

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UMC

UMC

$1.94

0.015 (0.78%)

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12:04
Upgrade
UMC rating change  »

UMC upgraded to Neutral…

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LRN

K12

$31.56

-4.665 (-12.88%)

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SPN

Superior Energy

$4.28

-0.685 (-13.80%)

12:01
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RES

RPC, Inc.

$11.04

-1.86 (-14.42%)

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SAP

SAP

$128.22

13.38 (11.65%)

12:01
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SAP rises 11.7% »

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APC

Anadarko

$71.92

7.8 (12.16%)

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TRK

Speedway Motorsports

$18.50

4.52 (32.33%)

12:00
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Treasury Action: Fed funds futures are rallying alongside the surge in Treasuries »

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HMST

HomeStreet

$28.08

(0.00%)

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PYPL

PayPal

$107.92

1.01 (0.94%)

, FB

Facebook

$183.84

0.07 (0.04%)

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PYPL

PayPal

$107.92

1.01 (0.94%)

FB

Facebook

$183.84

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EBAY

eBay

$38.45

1.79 (4.88%)

JPM

JPMorgan

$113.45

-0.29 (-0.25%)

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AMRN

Amarin

$18.32

-0.07 (-0.38%)

11:45
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Options
Amarin call volume above normal and directionally bullish »

Bullish option flow…

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Treasury's $20 B FRN auction was awarded at a high discount margin of 0.139% »

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LRN

K12

$31.11

-5.115 (-14.12%)

11:40
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11:40
Recommendations
K12 analyst commentary at Barrington »

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TSLA

Tesla

$262.87

-0.98 (-0.37%)

, SSNLF

Samsung

$0.00

(0.00%)

11:40
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TSLA

Tesla

$262.87

-0.98 (-0.37%)

SSNLF

Samsung

$0.00

(0.00%)

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CAT

Caterpillar

$138.82

-3.26 (-2.29%)

11:37
04/24/19
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Breaking Hot Stocks news story on Caterpillar »

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GWW

Grainger

$292.75

-0.46 (-0.16%)

11:37
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11:37
Hot Stocks
Grainger authorizes repurchase of additional 5M shares »

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BKU

BankUnited

$35.97

0.24 (0.67%)

11:36
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11:36
Downgrade
BankUnited rating change at Sandler ONeill »

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GWW

Grainger

$292.73

-0.48 (-0.16%)

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Grainger raises dividend by 6% to $1.44 per share »

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BBY

Best Buy

$75.08

1.48 (2.01%)

, PG

Procter & Gamble

$104.47

1.28 (1.24%)

11:36
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On The Fly
Best Buy, P&G, Snap upgrades among today's top analyst calls »

Check out today's top…

BBY

Best Buy

$75.08

1.48 (2.01%)

PG

Procter & Gamble

$104.47

1.28 (1.24%)

SNAP

Snap

$11.20

-0.79 (-6.59%)

KHC

Kraft Heinz

$32.73

-0.365 (-1.10%)

AAPL

Apple

$208.23

0.73 (0.35%)

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TEVA

Teva

$14.98

0.07 (0.47%)

, MYL

Mylan

$26.47

-0.13 (-0.49%)

11:35
04/24/19
04/24
11:35
04/24/19
11:35
Recommendations
Teva, Mylan, Novartis analyst commentary at Wells Fargo »

Sandoz results should not…

TEVA

Teva

$14.98

0.07 (0.47%)

MYL

Mylan

$26.47

-0.13 (-0.49%)

NVS

Novartis

$78.35

2.51 (3.31%)

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YPF

YPF

$14.54

-0.35 (-2.35%)

11:35
04/24/19
04/24
11:35
04/24/19
11:35
Options
YPF put volume heavy and directionally bearish »

Bearish flow noted in YPF…

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

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