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EGRX

Eagle Pharmaceuticals

$47.57

0.88 (1.88%)

, TEVA

Teva

$14.57

0.2 (1.39%)

07:17
04/16/19
04/16
07:17
04/16/19
07:17

Eagle agreement with Teva could be worth $5 per share, says Cantor Fitzgerald

Eagle Pharmaceuticals (EGRX) announced yesterday that it renegotiated its revenue arrangement with Teva (TEVA), whereby the royalty rate on Bendeka sales would increase to 30% from 25% on October 1, 2019, and increase by 1% a year until the rate reaches 32%, Cantor Fitzgerald analyst Brandon Folkes tells investors in a research note. The analyst views the announcement as a positive for Eagle shares. Based on his current Bendeka assumptions, he believes the announcement could be worth up to $5 per share. With Eagle Pharmaceuticals shares up 1.8% yesterday, the market appears to have overly discounted the potential upside from the news, says Folkes. He keeps an Overweight rating on the name with a $58 price target.

EGRX

Eagle Pharmaceuticals

$47.57

0.88 (1.88%)

TEVA

Teva

$14.57

0.2 (1.39%)

  • 02

    May

EGRX Eagle Pharmaceuticals
$47.57

0.88 (1.88%)

11/07/18
MZHO
11/07/18
NO CHANGE
Target $52
MZHO
Neutral
Eagle Pharmaceuticals price target lowered to $52 from $62 at Mizuho
Mizuho analyst Irina Koffler lowered her price target for Eagle Pharmaceuticals to $52 citing a declining terminal growth rate following the fulvestrant clinical failure. The analyst reiterates a Neutral rating on the shares.
11/02/18
RBCM
11/02/18
NO CHANGE
Target $64
RBCM
Outperform
Eagle Pharmaceuticals price target lowered to $64 from $84 at RBC Capital
RBC Capital analyst Randall Stanicky lowered his price target on Eagle Pharmaceuticals to $64, saying that the Q3 results came in line with the negative pre-announcement but also highlighted the company's "recent pipeline setbacks and outlook". The analyst keeps his Outperform rating on the shares based on Eagle Pharma's position "to drive value from the development of improved formulations of existing on-market products", but contends that "strategic M&A" needs to play a role to bolster its internal pipeline following its recent setbacks.
11/01/18
CANT
11/01/18
DOWNGRADE
CANT
Neutral
Eagle Pharmaceuticals downgraded to Neutral at Cantor Fitzgerald
10/31/18
PIPR
10/31/18
DOWNGRADE
Target $54
PIPR
Neutral
Eagle Pharmaceuticals downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst David Amsellem downgraded Eagle Pharmaceuticals to Neutral and lowered his price target for the shares to $54 from $82 after the company announced that its formulation of fulvestrant did not meet its bioequivalence endpoints in a study versus predecessor product Faslodex. While Eagle has a durable stream of cash flows associated with its bendamustine products, visibility into "significant value recovery anytime soon is murky" given the setbacks associated with its pipeline, Amsellem tells investors in a research note.
TEVA Teva
$14.57

0.2 (1.39%)

03/28/19
03/28/19
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. Lyft (LYFT) initiated with a Neutral at Wedbush. 2. The Medicines Co. (MDCO) initiated with an Outperform at Baird. 3. Fate Therapeutics (FATE) initiated with an Outperform at SVB Leerink. 4. Teva (TEVA) initiated with a Market Perform at BMO Capital. 5. Pebblebrook Hotel (PEB) initiated with a Neutral at Citi. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/28/19
BMOC
03/28/19
INITIATION
Target $18
BMOC
Market Perform
Teva initiated with a Market Perform at BMO Capital
BMO Capital analyst Gary Nachman initiated Teva with a Market Perform rating and a price target of $18. The analyst commends the management for making progress in its turnaround strategy with "cost restructuring, stabilization of U.S. Generics, and launches of key specialty drugs Austedo and Ajovy." However, Nachman also cites continued "meaningful" headwinds from Copaxone and base U.S. Generics, adding that Teva's current pipeline is not "sufficient to drive a strong enough growth profile" that would support a higher valuation. The analyst is also concerned with Teva's high debt load that could weigh on its stock for the next few years.
03/19/19
RHCO
03/19/19
INITIATION
Target $17
RHCO
Hold
Teva initiated with a Hold at SunTrust
SunTrust analyst Gregg Gilbert initiated Teva with a Hold rating and a price target of $17, saying that while the new CEO Kare Schultz led a cost base restructuring effort and trying to turn around the U.S. generics business, those positive are likely factored into the stock price. The analyst adds that the company's recent delay in expecting to achieve its deleveraging target "may make existing holders anxious and potential holders more patient."
03/13/19
WELS
03/13/19
NO CHANGE
Target $68
WELS
Market Perform
Wells says generic risk, not Purdue news, bringing down Emergent shares
Wells Fargo analyst David Maris "completely" disagrees with the view that shares of Emergent BioSolutions (EBS) are weak today on news of Purdue Pharma's nalmefene injection receiving fast track designation from the FDA. Maris notes that none of his clients have raised this as a potential issue and that, as an injection, Purdue's pproduct is not comparable to Emergent's nasal naloxone. An injection is not practical for the emergency medical technician and at home market, where most of Narcan is used, Maris tells investors in a research note. For example, Amphastar (AMPH) is a leader in the injectable market, and the vast majority of its use is in the hospital setting, the analyst points out. Rather, Maris attributes the recent selloff in Emergent BioSolutions to worries about the potential introduction of a generic version of Narcan. Teva (TEVA) has had a tentative approval for generic Narcan for some time, and its 30 month stay is over today, meaning that Teva could launch at risk from this point forward, Maris writes. As of now, there is no clear indication whether Teva will launch or not, he adds. While the analyst is not expecting an at-risk Narcan launch, he believes the risk of such an event is largely reflected in the shares given today's decline. Nonetheless, Maris keeps a Market Perform rating on Emergent with a $68 price target. The stock in afternoon trading is down 9%, or $4.98, to $52.00.

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SQM

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LOGC

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RBB

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$19.18

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BEN

Franklin Resources

$35.04

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TSLA

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CMRE

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$5.65

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, WHR

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ALDR

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AAPL

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GOOG

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CTRA

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BWEN

Broadwind Energy

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HLX

Helix Energy

$8.59

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VBTX

Veritex

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18:03
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BCS

Barclays

$8.70

-0.05 (-0.57%)

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NVDA

Nvidia

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TSLA

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EFSC

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EFSC

Enterprise Financial

$42.49

-1.4 (-3.19%)

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BPRN

Bank of Princeton

$32.30

(0.00%)

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  • 08

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LENS

Presbia

$0.56

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WAL

Western Alliance

$43.36

-0.89 (-2.01%)

17:23
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FCF

First Commonwealth

$13.26

-0.22 (-1.63%)

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