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AMGN

Amgen

$182.41

-5.59 (-2.97%)

, TEVA

Teva

$14.22

-0.48 (-3.27%)

05:11
04/18/19
04/18
05:11
04/18/19
05:11

Teva gains ground on Amgen in latest migraine survey, says Piper Jaffray

Following of survey of 99 neurologists done by his firm's partner Spherix Global Insights, Piper Jaffray analyst Christopher Raymond maintains an Overweight rating on Amgen (AMGN) and a Neutral rating on Teva Pharmaceutical (TEVA). The migraine survey indicates Eli Lilly's (LLY) Emgality is lagging and that Teva's Ajovy appears to be gaining ground on Amgen's Aimovig across numerous metrics, Raymond tells investors in a research note. While one data point does not a trend make, this move warrants close attention, especially given the increased significance assigned to Aimovig with respect to Amgen sentiment, says the analyst. Raymond, however, remains cautious on Teva shares given the" lack of clarity regarding when/where EBITDA will hit a trough." On the R&D side, the analyst notes that Overweight-rated Alder Biopharmaceuticals' (ALDR) eptinezumab "appears to be particularly top-of-mind among migraine specialists."

AMGN

Amgen

$182.41

-5.59 (-2.97%)

TEVA

Teva

$14.22

-0.48 (-3.27%)

LLY

Eli Lilly

$116.43

-3.7 (-3.08%)

ALDR

Alder Biopharmaceuticals

$12.78

-0.88 (-6.44%)

  • 24

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AMGN Amgen
$182.41

-5.59 (-2.97%)

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.
04/10/19
JEFF
04/10/19
NO CHANGE
Target $230
JEFF
Buy
Amgen has $500M drug with Evenity despite box warning, says Jefferies
Jefferies analyst Michael Yee says that despite the inclusion of a boxed warning highlighting the potential increased cardiovascular risk, Evenity is an incremental $500M-plus drug for Amgen. The analyst points out that Forteo did $1.5B despite a warning label for bone cancer. He keeps a Buy rating on Amgen with a $230 price target.
04/04/19
PIPR
04/04/19
NO CHANGE
PIPR
Overweight
Piper Jaffray stays Overweight on Alder Biopharma, Amgen after Novartis filing
Piper Jaffray analyst Christopher Raymond maintains his Overweight rating on Alder Biopharma (ALDR) and Amgen (AMGN) after the filing by Novartis (NVS) alleging legal dispute with the latter about their migraine collaboration. The analyst says that Novartis tried to beat Amgen to the punch after entering agreement with Alder to manufacture eptinezumab, which prompted Amgen to terminate their commercialization agreement. Raymond adds that a resolution of this dispute could take a year or more but believes that investors may conclude that the spat reflects the value of anti-CGRP assets.
04/02/19
PIPR
04/02/19
NO CHANGE
PIPR
Overweight
Inovio d-BiTEs news a 'significant pleasant surprise,' says Piper Jaffray
Piper Jaffray analyst Christopher Raymond said Inovio (INO) presented what he considers interesting, "albeit preclinical," data on DNA-encoded bispecific T-cell engagers, or "d-BiTEs," that could offer the advantages of Amgen's (AMGN) BiTE technology while "also offering what we see as an elegantly simple approach to addressing the inherent half-life challenges of current BiTE technology." Raymond said he did not expect that the company would be working on DNA-encoded bispecifics and called the announcement "a significant pleasant surprise" from the American Association for Cancer Research Annual Meeting. Raymond keeps an Overweight rating on Inovio shares.
TEVA Teva
$14.22

-0.48 (-3.27%)

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.
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."
LLY Eli Lilly
$116.43

-3.7 (-3.08%)

03/21/19
BMOC
03/21/19
NO CHANGE
BMOC
Outperform
Biogen Alzheimer's news incrementally negative for Eli Lilly, says BMO Capital
BMO Capital analyst Alex Arfaei said Biogen's (BIIB) report of the failure of aducanumab weakens, if not removes, a potential source of upside for Eli Lilly (LLY), which has an "aducanumab like" antibody in phase 2 development for Alzheimer's. However, he noted that consensus expectations for Eli Lilly's N3pG "were low, rightfully so" and he sees Alzheimer's continuing to be a highly challenging area of drug development. Arfaei has an Outperform rating on Eli Lilly shares.
04/11/19
04/11/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Chipotle (CMG) downgraded to Hold from Buy at Jefferies with analyst Andrew Barish saying after rallying 65% in Q1, Chipotle's valuation is full and reflects improved visibility for "powerful" same-store-sales and margin drivers. 2. Eli Lilly (LLY) downgraded to Neutral from Buy at Guggenheim with analyst Seamus Fernandez saying while he expects updates at the American Diabetes Association meeting to be broadly positive, he sees limited upside for the stock from current levels until Lilly's overall immunology portfolio and competition from Novo Nordisk's (NVO) semaglutide franchise is more fully understood. 3. U.S. Steel (X) downgraded to Underperform from Buy at BofA/Merrill with analyst Timna Tanners citing worse near-term U.S. market conditions than she anticipated. 4. Keurig Dr Pepper (KDP) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Dara Mohsenian saying she sees a negative risk-reward despite a "well telegraphed" Q1 earnings beat on strong pricing at heritage Dr. Pepper Snapple. 5. Waste Management (WM) downgraded to Hold from Buy at Stifel with analyst Michael Hoffman saying he factors in incrementally weaker paper prices and the impact of wet weather. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/11/19
GUGG
04/11/19
DOWNGRADE
GUGG
Neutral
Guggenheim sees limited upside for Eli Lilly, downgrades to Neutral
As previously reported, Guggenheim analyst Seamus Fernandez downgraded Eli Lilly (LLY) to Neutral from Buy, stating that while he expects updates at the American Diabetes Association meeting to be broadly positive, he sees limited upside for the stock from current levels until Lilly's overall immunology portfolio and competition from Novo Nordisk's (NVO) semaglutide franchise is more fully understood. Though he still thinks Eli Lilly has "the best long-term growth profile in US Pharma," that growth is the broad consensus view, said Fernandez, who removed his price target on the stock but estimates the fair value to be in the range of $125-$135 per share.
04/11/19
GUGG
04/11/19
DOWNGRADE
GUGG
Neutral
Eli Lilly downgraded to Neutral from Buy at Guggenheim
ALDR Alder Biopharmaceuticals
$12.78

-0.88 (-6.44%)

11/28/18
PIPR
11/28/18
NO CHANGE
Target $28
PIPR
Overweight
Alder Biopharmaceuticals's epti to benefit from SubQ profile, says Piper Jaffray
Piper Jaffray analyst Danielle Brill kept her Overweight rating and $28 price target on Alder Biopharmaceuticals following her meeting with its CEO Robert Azelby. The analyst says that the discussion of the recent launch of competitor SubQ anti-CGRP mAbs for migraine prevention raised the profile of its eptinezumab, noting that "given epti's rapid onset of effect and deep magnitude of response, the company believes there will be demand" for epti. Brill still sees the program's BLA submission on track for Q1 of 2019 with the potential launch coming in Q1 of 2020.
02/25/19
PIPR
02/25/19
NO CHANGE
Target $28
PIPR
Overweight
Piper Jaffray maintains positive view of Alder Biopharmaceuticals' eptinezumab
Piper Jaffray analyst Danielle Brill kept her Overweight rating and $28 price target on Alder Biopharmaceuticals after its Q4 results and update on eptinezumab this evening. The analyst maintains a positive view on the program and contends that "eptinezumab is the best suited agent for the most debilitated migraine patients", adding that the company could generate peak revenues of over $1B if it were to capture just the severe subset of patients.
11/06/18
11/06/18
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. Arcosa (ACA) initiated with a Buy at Gabelli. 2. Alder Biopharmaceuticals (ALDR) resumed with an Outperform at Wells Fargo. 3. Anaplan (PLAN) initiated with a Buy at Canaccord and Needham, an Overweight at Barclays and Piper Jaffray, an Outperform at JMP Securities, an In Line at Evercore ISI, an Equal Weight at Morgan Stanley, a Sector Weight at KeyBanc, and a Neutral at Goldman Sachs. 4. Equillium (EQ) initiated with a Buy at Stifel and Jefferies. 5. Badger Meter (BMI) initiated with a Buy at Maxim. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

MMNFF

MedMen

$0.00

(0.00%)

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MDLZ

Mondelez

$53.94

-0.13 (-0.24%)

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ECA

Encana

$4.04

0.01 (0.25%)

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GE

General Electric

$10.98

-0.02 (-0.18%)

16:41
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Upgrade
Analyst change prompts UBS to upgrade GE to Buy from Neutral »

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HSY

Hershey

$149.81

0.415 (0.28%)

16:40
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NDSN

Nordson

$167.47

1.72 (1.04%)

16:39
12/11/19
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Earnings
Nordson sees FY20 GAAP EPS growth 2%--6% versus FY19 »

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WHLR

Wheeler REIT

$1.79

-0.09 (-4.79%)

16:38
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  • 19

    Dec

HD

Home Depot

$211.96

-3.88 (-1.80%)

, BA

Boeing

$350.00

2.14 (0.62%)

16:38
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On The Fly
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BA

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2.14 (0.62%)

CVX

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GME

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NSRGY

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MD

Mednax

$26.75

1.975 (7.97%)

OLLI

Ollie's Bargain Outlet

$69.39

9.11 (15.11%)

LOGM

LogMeln

$79.82

5.86 (7.92%)

PLAY

Dave & Buster's

$38.59

-1.48 (-3.69%)

UNFI

United Natural Foods

$7.07

-2.81 (-28.44%)

PLCE

Children's Place

$54.35

-16.32 (-23.09%)

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NDSN

Nordson

$167.47

1.72 (1.04%)

16:35
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Nordson says backlog for the quarter was approximately $385M, down 1% YoY »

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GAIN

Gladstone Investment

$14.65

-0.02 (-0.14%)

, CPTA

Capitala Finance

$8.74

0.16 (1.86%)

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Gladstone Investment exits investment in Nth Degree »

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GAIN

Gladstone Investment

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CPTA

Capitala Finance

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0.16 (1.86%)

03/08/13
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FORM

FormFactor

$23.77

0.57 (2.46%)

16:35
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Breaking Hot Stocks news story on FormFactor »

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  • 18

    Dec

TWNK

Hostess Brands

$14.14

0.21 (1.51%)

16:34
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Hostess Brands initiated  »

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DLHC

DLH Holdings

$4.39

0.34 (8.40%)

16:34
12/11/19
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Earnings
DLH Holdings reports Q4 EPS 12c, two estimates 14c »

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NDSN

Nordson

$167.47

1.72 (1.04%)

16:34
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Earnings
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BKH

Black Hills

$77.19

0.55 (0.72%)

16:33
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MGEN

Miragen Therapeutics

$0.69

0.0554 (8.73%)

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COT

Cott Corp.

$13.68

0.05 (0.37%)

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R

Ryder

$51.38

-0.465 (-0.90%)

16:31
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Options
Preliminary option volume of 17.3M today »

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FVRR

Fiverr

$21.65

0.11 (0.51%)

16:28
12/11/19
12/11
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16:28
Initiation
Fiverr initiated  »

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  • 12

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SMPL

Simply Good Foods

$27.89

-0.2 (-0.71%)

16:27
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16:27
Initiation
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AMRS

Amyris

$3.24

-0.09 (-2.70%)

16:25
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12/11
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16:25
Initiation
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APT

Alpha Pro Tech

$3.36

-0.015 (-0.45%)

16:24
12/11/19
12/11
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16:24
Hot Stocks
Alpha Pro Tech adds additional $2M to share repurchase program »

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MGEN

Miragen Therapeutics

$0.69

0.0554 (8.73%)

16:24
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12/11
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16:24
Hot Stocks
Miragen Therapeutics to cut Phase 2 SOLAR enrollment, focus pipeline on MRG-229 »

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NX

Quanex

$19.76

0.715 (3.76%)

16:23
12/11/19
12/11
16:23
12/11/19
16:23
Earnings
Quanex sees FY20 revenue $865M-$885M, consensus $911.52M »

Bill Griffiths, chairman,…

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