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GILD

Gilead

$65.41

0.14 (0.21%)

07:04
04/16/19
04/16
07:04
04/16/19
07:04

Gilead, insitro announce strategic collaboration to develop therapies for NASH

Gilead Sciences and insitro announced that the companies have entered into a strategic collaboration to discover and develop therapies for patients with nonalcoholic steatohepatitis. Under the terms of the three-year collaboration, insitro's proprietary platform will be utilized to create disease models for NASH and discover targets that have an influence on clinical progression and regression of the disease. The insitro Human platform applies machine learning, human genetics and functional genomics to generate and optimize unique in vitro models and drive therapeutic discovery and development. The ISH platform will provide insights into disease progression, suggest candidate targets, and predict patient responses to potential therapeutic interventions. Gilead can advance up to five targets identified through this collaboration and will be responsible for chemistry and development against these targets. Under the terms of the agreement, insitro will receive an upfront payment of $15M, with additional near-term payments up to $35M based on operational milestones. insitro will be eligible to receive up to $200M for the achievement of preclinical, development, regulatory and commercial milestones for each of the five Gilead targets; and up to low double-digit tiered royalties on net sales. For programs where insitro opts in, it will have the right to co-develop and co-detail in the U.S., receive a profit share in China and receive milestone payments and royalties on other ex-U.S. sales.

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GILD Gilead
$65.41

0.14 (0.21%)

03/15/19
03/15/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Simmons First National (SFNC) initiated with a Buy at DA Davidson. 2. Amgen (AMGN) and Gilead (GILD) initiated with an Outperform at BMO Capital. 3. Rocket Pharmaceuticals (RCKT) initiated with a Buy at BofA/Merrill. 4. Urovant Sciences (UROV) initiated with a Buy at SunTrust. 5. Spectrum (SPPI) assumed with a Buy at Jefferies. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/17/19
PIPR
03/17/19
NO CHANGE
Target $75
PIPR
Neutral
Gilead HIV drugs' price increase 30% lower than prior years, says Piper Jaffray
Piper Jaffray analyst Tyler Van Buren notes that as expected, effective March 16th, Gilead raised list prices of the company's top 6 selling HIV antiviral drugs by 4.9% which includes Atripla, Biktarvy, Descovy, Genvoya, Odefsey, and Truvada. Notably, the price increases were roughly 30% lower than what has been observed in prior years and likely reflects the recent increasing pressure on drug pricing, he contends. The analyst also notes that these increases are well below the high single digit year over year price increases that have been observed with other companies, which Gilead can afford due to strong volume growth of its next generation TAF-based regimens. Van Buren reiterates a Neutral rating and $75 price target on the shares.
04/10/19
UBSW
04/10/19
UPGRADE
Target $77
UBSW
Buy
Gilead upgraded to Buy from Neutral at UBS
UBS analyst Carter Gould upgraded Gilead Sciences to Buy from Neutral and raised his price target for the shares to $77 from $75. Following the failure of selonsertib in nonalcoholic steatohepatitis, Gilead announced "two important clinical wins" in the positive Descovy PrEP data and filgotinib Finch1/3 data, Gould tells investors in a research note. These unlock two $2B-plus revenue opportunities and go "far to de-risk" the company's growth in 2021 and beyond, contends the analyst. Further, while the analyst expects a Q1 earnings miss, he believes 2019 estimates will move higher as NASH precommercialization spend likely comes out of guidance.
04/12/19
RBCM
04/12/19
NO CHANGE
RBCM
Outperform
Intercept's OCA risk-benefit profile still looks solid, says RBC Capital
RBC Capital analyst Brian Abrahams kept his Outperform rating on Intercept (ICPT) after its Regenerate data in the 25mg obeticholic acid, or OCA, study and the subsequent 13% decline in its stock price. The analyst believes that the sell-off was in part a "sell the news" event and also may have been driven by the separately announced 20% sales force layoff at Gilead (GILD), which had been viewed as a potential buyer of NASH assets. Abrahams maintains his view on OCA's benefit/risk profile as "solid", adding that while fundamental concerns around the launch and necessary capital are likely to remain, he expects its "likely approval and broad long-term market opportunity" to become "better appreciated in the medium-term."

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PPG

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PPG

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PPG reports Q1 adjusted EPS $1.38, consensus $1.21 »

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LULU

Lululemon

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2.28 (1.35%)

06:51
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SON

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$60.98

-0.235 (-0.38%)

06:49
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Sonoco raises FY19 base EPS view to $3.52-$3.62 from $3.47-$3.57 »

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DOV

Dover

$96.81

-0.66 (-0.68%)

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VRAY

ViewRay

$7.26

-0.16 (-2.16%)

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NICE

Nice

$130.90

2.04 (1.58%)

, VRNT

Verint

$60.20

-1.49 (-2.42%)

06:48
04/18/19
04/18
06:48
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06:48
Upgrade
Nice, Verint rating change  »

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NICE

Nice

$130.90

2.04 (1.58%)

VRNT

Verint

$60.20

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SON

Sonoco

$60.98

-0.235 (-0.38%)

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GM

General Motors

$39.99

0.42 (1.06%)

06:47
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General Motors says Cadillac has gained popularity in China, Reuters reports »

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SON

Sonoco

$60.98

-0.235 (-0.38%)

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Earnings
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DOV

Dover

$96.81

-0.66 (-0.68%)

06:47
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AVY

Avery Dennison

$113.69

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SYF

Synchrony

$33.22

0.06 (0.18%)

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UROV

Urovant Sciences

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TSM

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$44.37

1.17 (2.71%)

, SSNLF

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$0.00

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SSNLF

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ETRN

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$21.77

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, EQM

EQT Midstream Partners

$45.61

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Initiation
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ETRN

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TVTY

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HON

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$162.92

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DDAIF

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KEY

KeyCorp

$17.17

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MPSYF

Morphosys AG

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MOR

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