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MRK

Merck

$81.78

-1.39 (-1.67%)

11:15
04/04/19
04/04
11:15
04/04/19
11:15

Merck put volume heavy and directionally bearish

Bearish flow noted in Merck with 5,247 puts trading, or 2x expected. Most active are Apr-19 81 puts and Apr-19 82 puts, with total volume in those strikes near 3,500 contracts. The Put/Call Ratio is 1.70, while ATM IV is up over 1 point on the day. Earnings are expected on April 30th.

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MRK Merck
$81.78

-1.39 (-1.67%)

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.
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).

TODAY'S FREE FLY STORIES

SASR

Sandy Spring Bancorp

$33.29

0.22 (0.67%)

07:13
04/18/19
04/18
07:13
04/18/19
07:13
Earnings
Sandy Spring Bancorp reports Q1 ex-items EPS 79c, consensus 74c »

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VET

Vermilion Energy

$26.99

0.525 (1.98%)

07:12
04/18/19
04/18
07:12
04/18/19
07:12
Downgrade
Vermilion Energy rating change  »

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    Apr

KEY

KeyCorp

$17.17

0.27 (1.60%)

07:12
04/18/19
04/18
07:12
04/18/19
07:12
Hot Stocks
KeyCorp sees FY19 net interest income $4B-$4.1B, noninterest income $2.5B-$2.6B »

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SBUX

Starbucks

$75.14

-0.57 (-0.75%)

07:12
04/18/19
04/18
07:12
04/18/19
07:12
Recommendations
Starbucks analyst commentary  »

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  • 25

    Apr

HUSKF

Husky Energy

07:11
04/18/19
04/18
07:11
04/18/19
07:11
Upgrade
Husky Energy rating change  »

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VKTX

Viking Therapeutics

$8.60

-0.61 (-6.62%)

07:11
04/18/19
04/18
07:11
04/18/19
07:11
Recommendations
Viking Therapeutics analyst commentary  »

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BX

Blackstone

$35.91

-0.08 (-0.22%)

07:10
04/18/19
04/18
07:10
04/18/19
07:10
Earnings
Blackstone reports Q1 EPS 71c, consensus 53c »

Reports Q1 revenue $2.02B…

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07:10
04/18/19
04/18
07:10
04/18/19
07:10
General news
FX Update: The dollar has traded generally firmer »

FX Update: The dollar has…

VCEL

Vericel

$16.28

-2.25 (-12.14%)

07:09
04/18/19
04/18
07:09
04/18/19
07:09
Hot Stocks
Vericel appoints Paul Wotton, Ph.D., as CEO »

Obsidian Therapeutics…

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  • 01

    May

PM

Philip Morris

$85.49

-0.71 (-0.82%)

07:09
04/18/19
04/18
07:09
04/18/19
07:09
Hot Stocks
Philip Morris reports Q1 cigarette, heated tobacco unit shipment volume up 1.1% »

Reports cigarette and…

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ENV

Envestnet

$69.17

-0.39 (-0.56%)

07:09
04/18/19
04/18
07:09
04/18/19
07:09
Initiation
Envestnet initiated  »

Envestnet initiated with…

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  • 16

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REXR

Rexford Industrial

$35.78

-0.325 (-0.90%)

07:09
04/18/19
04/18
07:09
04/18/19
07:09
Hot Stocks
Rexford Industrial acquires four industrial properties for $84.5M »

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  • 01

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POOL

Pool Corp.

$169.00

-1.63 (-0.96%)

07:08
04/18/19
04/18
07:08
04/18/19
07:08
Earnings
Breaking Earnings news story on Pool Corp. »

Pool Corp. raises FY19…

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SLB

Schlumberger

$47.39

-0.06 (-0.13%)

07:08
04/18/19
04/18
07:08
04/18/19
07:08
Hot Stocks
Schlumberger CEO expects oil market sentiments to 'steadily improve' in 2019 »

Schlumberger CEO Paal…

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GOLD

Barrick Gold

$13.20

-0.06 (-0.45%)

, NEM

Newmont Mining

$34.18

-0.58 (-1.67%)

07:07
04/18/19
04/18
07:07
04/18/19
07:07
Hot Stocks
Barrick Gold reports preliminary Q1 sales of 1.37M ounces of gold »

After setting a…

GOLD

Barrick Gold

$13.20

-0.06 (-0.45%)

NEM

Newmont Mining

$34.18

-0.58 (-1.67%)

03/08/13
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POOL

Pool Corp.

$169.00

-1.63 (-0.96%)

07:07
04/18/19
04/18
07:07
04/18/19
07:07
Earnings
Pool Corp. reports Q1 ex-items EPS 59c, consensus 65c »

Reports Q1 revenue…

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ACB

Aurora Cannabis

$8.95

0.11 (1.24%)

07:06
04/18/19
04/18
07:06
04/18/19
07:06
Hot Stocks
Aurora Cannabis provides update on German cannabis production tender »

Aurora Cannabis confirmed…

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SLB

Schlumberger

$47.39

-0.06 (-0.13%)

07:06
04/18/19
04/18
07:06
04/18/19
07:06
Earnings
Schlumberger reports Q1 EPS 30c, consensus 30c »

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SNGX

Soligenix

$0.83

0.03 (3.75%)

07:06
04/18/19
04/18
07:06
04/18/19
07:06
Hot Stocks
Soligenix reaches enrollment milestone in Phase 3 trial of SGX942 »

Soligenix has reached an…

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PM

Philip Morris

$85.49

-0.71 (-0.82%)

07:05
04/18/19
04/18
07:05
04/18/19
07:05
Hot Stocks
Breaking Hot Stocks news story on Philip Morris »

Philip Morris still sees…

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RCI

Rogers Communications

$53.15

-0.14 (-0.26%)

07:04
04/18/19
04/18
07:04
04/18/19
07:04
Earnings
Rogers Communications reports Q1 adj. EPS C$0.78 vs. C$0.90 last year »

Reports Q1 revenue…

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DWDP

DowDuPont

$39.20

-0.04 (-0.10%)

07:04
04/18/19
04/18
07:04
04/18/19
07:04
Hot Stocks
DowDuPont provides update on Q1 performance »

DowDuPont is providing…

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BX

Blackstone

$35.91

-0.08 (-0.22%)

07:04
04/18/19
04/18
07:04
04/18/19
07:04
Hot Stocks
Blackstone announces conversion to corporation »

Blackstone Chairman and…

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PM

Philip Morris

$85.49

-0.71 (-0.82%)

07:04
04/18/19
04/18
07:04
04/18/19
07:04
Earnings
Philip Morris sees FY19 reported EPS at least $4.87, consensus $5.09 »

This full-year guidance…

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WTR

Aqua America

$34.83

-1.075 (-2.99%)

07:03
04/18/19
04/18
07:03
04/18/19
07:03
Syndicate
Aqua America 32.5M share Secondary priced at $34.62 »

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