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REPH

Recro Pharma

$8.40

0.04 (0.48%)

, TEVA

Teva

$14.57

0.2 (1.39%)

07:18
04/16/19
04/16
07:18
04/16/19
07:18

Recro Pharma announces extension of supply agreement with CDMO division, Teva

Recro Pharma (REPH) announced that its CDMO division, has amended its existing license and supply agreement with Teva (TEVA) to extend the agreement for six years, effective January 1. Under the terms of the amended agreement, Recro Gainesville will continue to supply Teva with Verapamil SR capsules through 2024 and Teva will continue to be Recro Gainesville's exclusive United States distributor of the product, for which Recro Gainesville is the new drug application holder. The Teva agreement provides to Recro Gainesville the same revenue economics as the original agreement, including both manufacturing and profit sharing components. Prior to this amendment, the license and supply agreement with Teva for Verapamil SR was renewable on a year-to-year basis.

REPH

Recro Pharma

$8.40

0.04 (0.48%)

TEVA

Teva

$14.57

0.2 (1.39%)

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REPH Recro Pharma
$8.40

0.04 (0.48%)

03/25/19
OPCO
03/25/19
NO CHANGE
Target $9
OPCO
Outperform
Recro Pharma price target lowered to $9 from $19 at Oppenheimer
Oppenheimer analyst Leland Gershell lowered his price target for Recro Pharma to $9 from $19 saying that a second CRL for IV meloxicam comes as a "surprising disappointment," as he had perceived the issues that held up initial approval as relatively minor and resolvable through further negotiation between the company and the FDA. Following this recent action, the analyst now lacks clarity on approval prospects as well as on how Recro Pharma will adequately address the agency's concerns. Gershell reiterates an Outperform rating on the shares.
03/25/19
ROTH
03/25/19
DOWNGRADE
ROTH
Neutral
Recro Pharma downgraded to Neutral from Buy at Roth Capital
03/25/19
03/25/19
DOWNGRADE
Target $7.5

Neutral
Recro Pharma downgraded to Neutral after IV Meloxicam CRL at Roth Capital
As previously reported, Roth Capital analyst Scott Henry downgraded Recro Pharma to Neutral from Buy after the FDA issued a CRL to the company with regards to the pain drug IV meloxicam. The analyst notes this was not expected given the unmet need for non-opioid pain relievers, and expects Recro Pharma to pursue dispute resolution. Additionally, Henry believes that the company needs to cut costs and pursue profitability with the CDMO business near-term. The analyst also lowered his price target on the shares to $7.50 from $15.
04/04/19
OPCO
04/04/19
NO CHANGE
Target $15
OPCO
Outperform
Recro Pharma price target raised to $15 from $9 at Oppenheimer
Oppenheimer analyst Leland Gershell raised his price target for Recro Pharma to $15 from $9 to reflect the company's updated business plan. With its announced plan to restructure its Acute Care Segment, which should enable Recro Pharma to become cash flow positive in the second half of 2019 by virtue of its growing CDMO business, the analyst believes the company is taking rational steps toward rebuilding equity value following IV meloxicam's 2nd CRL. He reiterates an Outperform rating on the shares.
TEVA Teva
$14.57

0.2 (1.39%)

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."
03/28/19
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.
03/28/19
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.
04/16/19
CANT
04/16/19
NO CHANGE
Target $58
CANT
Overweight
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.

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CFR

Cullen/Frost

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09:06
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CWT

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SFM

Sprouts Farmers Market

$21.33

0.55 (2.65%)

, AMZN

Amazon.com

$1,900.72

-23.36 (-1.21%)

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SFM

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$21.33

0.55 (2.65%)

AMZN

Amazon.com

$1,900.72

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DLX

Deluxe

$46.49

0.355 (0.77%)

09:03
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TER

Teradyne

$47.99

3.39 (7.60%)

, AAPL

Apple

$207.10

-0.4 (-0.19%)

09:03
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Teradyne, Apple analyst commentary  »

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TER

Teradyne

$47.99

3.39 (7.60%)

AAPL

Apple

$207.10

-0.4 (-0.19%)

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BLL

Ball Corp.

$58.89

-0.62 (-1.04%)

09:01
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LAD

Lithia Motors

$104.90

7.19 (7.36%)

09:01
04/25/19
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09:01
Recommendations
Lithia Motors analyst commentary at Craig-Hallum »

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DLX

Deluxe

$46.49

0.355 (0.77%)

09:01
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Earnings
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UL

Unilever; also tag UN

$58.69

-0.05 (-0.09%)

, UN

Unilever; also tag UL

$58.68

-0.18 (-0.31%)

09:00
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09:00
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Unilever; also tag UN, Unilever; also tag UL rating change  »

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UL

Unilever; also tag UN

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Unilever; also tag UL

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MSFT

Microsoft

$125.00

-0.5 (-0.40%)

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DLX

Deluxe

$46.49

0.355 (0.77%)

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Earnings
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DLX

Deluxe

$46.49

0.355 (0.77%)

08:58
04/25/19
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08:58
Earnings
Deluxe reports Q1 adjusted EPS $1.14, consensus $1.11 »

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UPS

UPS

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0.79 (0.70%)

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MMM

3M

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-0.28 (-0.13%)

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PYPL

PayPal

$107.18

0.27 (0.25%)

, EBAY

eBay

$38.51

1.85 (5.05%)

08:56
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PayPal, eBay, Chipotle analyst commentary at Craig-Hallum »

PayPal price target…

PYPL

PayPal

$107.18

0.27 (0.25%)

EBAY

eBay

$38.51

1.85 (5.05%)

CMG

Chipotle

$710.00

7.61 (1.08%)

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MMM

3M

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08:56
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WCN

Waste Connections

$89.28

0.01 (0.01%)

08:55
04/25/19
04/25
08:55
04/25/19
08:55
Earnings
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FB

Facebook

$182.64

-1.13 (-0.61%)

, OXY

Occidental Petroleum

$62.00

-0.35 (-0.56%)

08:55
04/25/19
04/25
08:55
04/25/19
08:55
Options
Notable open interest changes for April 25th »

Wednesday's total…

FB

Facebook

$182.64

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OXY

Occidental Petroleum

$62.00

-0.35 (-0.56%)

MSFT

Microsoft

$125.00

-0.5 (-0.40%)

TSLA

Tesla

$258.70

-5.15 (-1.95%)

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08:55
04/25/19
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08:55
General news
Treasury Action: yields cheapened a bit on the strong durables report »

Treasury Action: yields…

SHW

Sherwin-Williams

$457.85

-2.58 (-0.56%)

08:54
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08:54
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Sherwin-Williams rating change  »

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FBBPF

Prologis Property Mexico

$0.00

(0.00%)

08:54
04/25/19
04/25
08:54
04/25/19
08:54
Conference/Events
Prologis Property Mexico management to meet with JPMorgan »

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  • 01

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NOW

ServiceNow

$242.41

-1.085 (-0.45%)

08:54
04/25/19
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08:54
Recommendations
ServiceNow analyst commentary at JMP Securities »

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BIP

Brookfield Infrastructure

$41.62

-0.03 (-0.07%)

, BAM

Brookfield

$47.73

-0.51 (-1.06%)

08:53
04/25/19
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Downgrade
Brookfield Infrastructure, Brookfield rating change  »

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BIP

Brookfield Infrastructure

$41.62

-0.03 (-0.07%)

BAM

Brookfield

$47.73

-0.51 (-1.06%)

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APC

Anadarko

$71.41

7.29 (11.37%)

08:53
04/25/19
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