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REGN

Regeneron

$367.96

-7.45 (-1.98%)

, NVS

Novartis

$79.28

-1.675 (-2.07%)

08:52
04/17/19
04/17
08:52
04/17/19
08:52

Regeneron price target lowered to $343 from $376 at Jefferies

Jefferies analyst Biren Amin lowered his price target for Regeneron Pharmaceuticals (REGN) to $343 from $376 after doctors in his firm's survey viewed Novartis' (NVS) brolucizumab favorably. Retina specialists are particularly eager to prescribe brolucizumab, Amin tells investors in a research note. "Conservatively" incorporating the doctor estimates for brolucizumab uptake cuts revenue for Regeneron's Eylea in wet age-related macular degeneration by 13% over next two years, says the analyst. His revised Eylea estimates are now 4%-7% below consensus for fiscal 2020 through 2023. Amin thinks the Street underestimates the impact of the brolucizumab entry, which he thinks could "replicate events seen when Eylea launched and encroached on Lucentis share." The analyst keeps a Hold rating on Regeneron.

REGN

Regeneron

$367.96

-7.45 (-1.98%)

NVS

Novartis

$79.28

-1.675 (-2.07%)

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REGN Regeneron
$367.96

-7.45 (-1.98%)

04/01/19
PIPR
04/01/19
NO CHANGE
Target $7
PIPR
Overweight
Aslan data show comparable activity to Dupixent, says Piper Jaffray
Aslan Pharmaceuticals reported preliminary Phase I single-ascending dose data on intravenous ASLAN004 demonstrating the IL13 receptor antibody to be safe and well tolerated in healthy volunteers with no discontinuations due to adverse events, Piper Jaffray analyst Edward Tenthoff tells investors in a research note. ASLAN004 caused complete inhibition of phosphorylation of STAT6 within one hour lasting for greater than 29 days, adds the analyst. He believes these results present the opportunity for once-monthly dosing of ASLAN004 with comparable activity to Regeneron's (REGN) Dupixent. Tenthoff reiterates an Overweight rating on Aslan Pharmaceuticals with a $7 price target.
04/08/19
PIPR
04/08/19
NO CHANGE
Target $142
PIPR
Overweight
Alnylam alliance with Regeneron a 'clear positive,' says Piper Jaffray
Alnylam Pharmaceuticals (ALNY) today concluded its 2014 RNAi discovery collaboration with Sanofi (SNY) and announced a new five-year RNAi drug discovery alliance with Regeneron Pharmaceuticals (REGN), Piper Jaffray analyst Edward Tenthoff tells investors in a research note. Alnylam will receive $400M in cash and Regeneron will make a $400M equity investment at $90 per Alnylam share, bringing its estimated pro forma cash to $2.3B, adds the analyst. He believes the alliance is a "clear positive for Alnylam "dramatically expanding" its RNAi drug discovery capabilities and strengthening its balance sheet to advance its own orphan disease programs. Tenthoff reiterates an Overweight rating on Alnylam with a $142 price target. The stock in early trading is down 3%, or $2.95, to $89.94.
04/09/19
BMOC
04/09/19
NO CHANGE
Target $119
BMOC
Outperform
Alnylam price target raised to $119 from $106 at BMO Capital
BMO Capital analyst Do Kim raised his price target on Alnylam (ALNY) to $119 and kept his Outperform rating after its announced Regeneron (REGN) partnership on ocular / CNS diseases and liver-related diseases. The analyst expects the collaboration to result in favorable economics that also gives Alnylam an opportunity to co-promote its CNS program, but warns that some pressure on the stock is possible since the equity investment component by Regeneron at $90 per share was $3 below Friday's close.
04/09/19
LEER
04/09/19
NO CHANGE
Target $70
LEER
Market Perform
Alnylam price target raised to $70 from $65 at SVB Leerink
SVB Leerink analyst Mani Foroohar raised his price target for Alnylam (ALNY) to $70 from $65 after the company announced a collaboration with Regeneron (REGN) to develop and commercialize RNAi therapeutics with a focus on CNS and ocular indications, along with liver-directed NASH therapies and cemdisiran in combination with pozelimab. The analyst believes the terms of the deal, which includes a $400M upfront payment and a $400M equity investment in Alnylam at $90/share, are favorable for Alnylam. Foroohar reiterates a Market Perform rating on Alnylam's shares.
NVS Novartis
$79.28

-1.675 (-2.07%)

04/10/19
MSCO
04/10/19
DOWNGRADE
MSCO
Underweight
Novartis downgraded to Underweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst Mark Purcell downgraded Novartis (NVS) to Underweight from Equal Weight and lowered his price target for the shares to 80 francs. The spinoff of Alcon will put more attention on the generics risk Novartis faces in its pharma business, Purcell tells investors in a research note. The analyst believes this generic pressure is not priced into shares of Novartis. His top pick remains Roche (RHHBY).
04/10/19
MZHO
04/10/19
NO CHANGE
Target $41
MZHO
Buy
Alcon spinoff shows Bausch Health is undervalued, says Mizuho
Mizuho analyst Irina Koffler reiterates a Buy rating on Bausch Health Companies (BHC) with a $41 price target following Novartis' (NVS) spinoff of Alcon (ALC). Bausch's smaller B+L segment should trade at a "slight discount" to market leader Alcon, but calculate that the market is currently assigning only a 13 times 2019 enterprise value to EBITA multiple to the B+L business, Koffler tells investors in a research note. This highlights that Bausch Health is undervalued, contends the analyst.
04/10/19
MSCO
04/10/19
INITIATION
Target $65
MSCO
Overweight
Alcon initiated with an Overweight at Morgan Stanley
Morgan Stanley analyst David Lewis initiated Alcon (ALC) with an Overweight rating and $65 price target, stating that he expects its pipeline, sales and capex reinvestment to drive an inflection in revenue growth and margin expansion post the spinoff from Novartis (NVS). Near-term improvement at Alcon hinges on the two key PanOptix and PRECISION1 franchises, Lewis noted.
04/10/19
04/10/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Apple (AAPL) downgraded to Reduce from Hold at HSBC with analyst Erwan Rambourg saying the returns from Apple's recent announcements, including the Apple News+ premium news subscription, the Apple Card in partnership with Goldman Sachs (GS), Apple Arcade games as part of the App store and video subscription Apple TV+, could "take some time to extract." 2. AmerisourceBergen (ABC) downgraded to In Line from Outperform at Evercore ISI with analyst Michael Cherry citing group profit questions, lack of clarity with PharMEDium, and a reduction in multiple for peers Cardinal Health (CAH) and McKesson (MCK). 3. Novartis (NVS) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Mark Purcell saying the spinoff of Alcon will put more attention on the generics risk Novartis faces in its pharma business. 4. TerraForm Power (TERP) downgraded to Sell from Neutral at Goldman Sachs with analyst Brian Lee saying that while the company is in the midst of an operational transition that may improve cash flow and dividend flexibility, the upside appears to be priced in. 5. Foot Locker (FL) assumed with a Neutral from Buy at Citi with analyst Paul Lejuez saying while Foot Locker has "tailwinds at its back" in North America with comps inflecting positively in Q4, the company still faces many of the same headwinds as other specialty retailers given its "significant" mall exposure and EBIT pressure from direct-to-consumer. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

NDEKY

Nitto Denko

$0.00

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06:53
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CURO

Curo Group

$10.96

0.16 (1.48%)

04:55
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Curo Group management to meet with Jefferies »

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AON

Aon plc

$175.38

-0.14 (-0.08%)

, MMC

Marsh & McLennan

$93.76

-0.62 (-0.66%)

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AON

Aon plc

$175.38

-0.14 (-0.08%)

MMC

Marsh & McLennan

$93.76

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WLTW

Willis Towers Watson

$177.37

0.45 (0.25%)

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ISRG

Intuitive Surgical

$528.04

3.29 (0.63%)

21:07
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UBER

Uber

$0.00

(0.00%)

, TM

Toyota

$125.10

0.93 (0.75%)

20:35
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Hot Stocks
Uber confirms investment from Toyota, DENSO and SoftBank Vision Fund »

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Uber

$0.00

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TM

Toyota

$125.10

0.93 (0.75%)

DNZOY

Denso

$0.00

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SFTBF

SoftBank

$0.00

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FIX

Comfort Systems USA

$57.58

0.06 (0.10%)

20:08
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Comfort Systems USA discloses ransomware attack virus »

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NSANY

Nissan

$0.00

(0.00%)

, RNSDF

Renault

$0.00

(0.00%)

19:29
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04/18
19:29
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Periodicals
Nissan to cut global output by 15% in FY19/20, Nikkei reports »

Nissan Motor (NSANY) will…

NSANY

Nissan

$0.00

(0.00%)

RNSDF

Renault

$0.00

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FE

FirstEnergy

$40.51

0.28 (0.70%)

19:13
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FirstEnergy CEO 'pleased' FES submitted revised disclosure statement »

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TSLA

Tesla

$273.25

2.13 (0.79%)

19:03
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19:03
Periodicals
Tesla CEO, SEC granted one more week to resolve tweet dispute, WSJ says »

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EXPO

Exponent

$56.39

0.23 (0.41%)

, AKRX

Akorn

$2.77

-0.16 (-5.46%)

18:57
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Fly Intel: After Hours Movers »

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Exponent

$56.39

0.23 (0.41%)

AKRX

Akorn

$2.77

-0.16 (-5.46%)

ZSAN

Zosano Pharma

$3.41

-0.11 (-3.13%)

FAST

Fastenal

$71.08

0.95 (1.35%)

APHA

Aphria

$7.65

-0.165 (-2.11%)

ISRG

Intuitive Surgical

$528.04

3.29 (0.63%)

PBCT

People's United

$17.12

-0.21 (-1.21%)

I

Intelsat

$19.48

0.235 (1.22%)

LLY

Eli Lilly

$115.20

-1.23 (-1.06%)

PFE

Pfizer

$39.37

-0.5 (-1.25%)

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FIVE

Five Below

$141.65

1.82 (1.30%)

18:44
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LBRT

Liberty Oilfield Services

$16.60

-0.59 (-3.43%)

18:39
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Liberty Oilfield Services CFO sells 90,000 Class A common shares »

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VNO

Vornado

$67.02

0.77 (1.16%)

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CHKP

Check Point

$120.01

-9.56 (-7.38%)

18:26
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CAG

Conagra Brands

$30.53

0.405 (1.34%)

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UNP

Union Pacific

$176.70

7.5 (4.43%)

17:52
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SO

Southern Company

$51.95

-0.22 (-0.42%)

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TSLA

Tesla

$273.25

2.13 (0.79%)

17:46
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Tesla CEO Musk, SEC ask for extension to settle tweet dispute, Reuters says »

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GLD

SPDR Gold Shares

$120.40

0.09 (0.07%)

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OSW

OneSpaWorld

$13.77

(0.00%)

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Breaking Syndicate news story on OneSpaWorld »

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SCHW

Charles Schwab

$45.57

-0.53 (-1.15%)

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Charles Schwab EVP Murtagh sells 23.2K shares of common stock »

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OSW

OneSpaWorld

$13.77

(0.00%)

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Breaking Syndicate news story on OneSpaWorld »

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