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FTDR

Frontdoor

$34.60

0.28 (0.82%)

, SAGE

Sage Therapeutics

$163.87

-0.41 (-0.25%)

10:16
04/25/19
04/25
10:16
04/25/19
10:16

Fly Intel: Top five analyst initiations

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Frontdoor (FTDR) initiated with an Outperform at Raymond James. 2. Sage Therapeutics (SAGE) initiated with a Buy at Jefferies. 3. Eyenovia (EYEN) initiated with an Outperform at Oppenheimer. 4. DXP Enterprises (DXPE) initiated with a Hold at Jefferies. 5. Replimune Group (REPL) initiated with an Outperform at Wedbush. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

FTDR

Frontdoor

$34.60

0.28 (0.82%)

SAGE

Sage Therapeutics

$163.87

-0.41 (-0.25%)

EYEN

Eyenovia

$6.50

(0.00%)

DXPE

DXP Enterprises

$44.52

(0.00%)

REPL

Replimune Group

$16.28

0.96 (6.27%)

  • 29

    Apr

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    Nov

FTDR Frontdoor
$34.60

0.28 (0.82%)

04/25/19
RAJA
04/25/19
INITIATION
Target $42
RAJA
Outperform
Frontdoor initiated with an Outperform at Raymond James
Raymond James analyst Justin Patterson initiated Frontdoor with an Outperform and $42 price target saying it is a "compelling" digital transformation story. Patterson believes Frontdoor is positioned for share gains and steady 8%-9% revenue growth over the near-term, and said its high EBITDA margins and asset light model drives healthy cash flow generation and fuels organic growth.
04/18/19
FBCO
04/18/19
INITIATION
Target $40
FBCO
Neutral
Frontdoor initiated with a Neutral at Credit Suisse
Credit Suisse analyst Kevin McVeigh started coverage of Frontdoor with a Neutral rating and a $40 price target. The analyst says Frontdoor has strong offerings and scale in the underpenetrated home service plan industry, but he is Neutral rated given elevated investment spend and uneven gross margins.
04/24/19
04/24/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Frontdoor (FTDR) initiated with a Buy at Goldman Sachs. 2. Children's Place (PLCE) initiated with a Buy at DA Davidson. 3. Targa Resources (TRGP) resumed with an In Line at Evercore ISI. 4. Polaris Industries (PII) initiated with a Buy at Goldman Sachs, while BRP Inc. (DOOO) was initiated with a Neutral. 5. Twin River Worldwide (TRWH) initiated with a Buy at Stifel. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/24/19
GSCO
04/24/19
INITIATION
Target $41
GSCO
Buy
Frontdoor initiated with a Buy at Goldman Sachs
Goldman Sachs analyst Michael Ng started Frontdoor with a Buy rating and $41 price target. The company is well positioned for overall U.S. home service plan category growth, which is underpenetrated at 4% of U.S. homes, Ng tells investors in a research note. Further, Frontdoor should benefit from recent price increases as well as the potential normalization of weather in 2019, the analyst adds.
SAGE Sage Therapeutics
$163.87

-0.41 (-0.25%)

03/20/19
PIPR
03/20/19
NO CHANGE
Target $206
PIPR
Overweight
Sage Therapeutics approval in-line with expectations, says Piper Jaffray
Piper Jaffray analyst Danielle Brill says FDA approval of Sage Therapeutics' Zulresso for postpartum depression, product labeling, and gross pricing of $34,000 are "entirely in-line with expectations." The analyst continues to believe the opportunity of a 60-hour intravenous infusion with restricted use is modest at $300M in peak sales. However, the commercial footprint Sage can establish with Zulresso should position the company well for maximal success with SAGE-217 in the postpartum depression setting, Brill tells investors in a research note. She reiterates an Overweight rating on the shares with a $206 price target.
03/20/19
HCWC
03/20/19
NO CHANGE
Target $254
HCWC
Buy
Ligand receives royalty on sales of Zulresso, says H.C. Wainwright
H.C. Wainwright analyst Joseph Pantginis points out that Ligand Pharmaceuticals (LGND) is entitled to a 3% royalty on the sales of Sage Therapeutics' (SAGE) Zulresso, which just received FDA approval. The approval also provides Ligand with a $3M milestone payment, Pantginis tells investors in a research note. The analyst thinks Zulresso "should maintain a comfortable niche" and he reiterates a Buy rating on Ligand with a $254 price target.
04/25/19
JEFF
04/25/19
INITIATION
Target $195
JEFF
Buy
Sage Therapeutics initiated with a Buy at Jefferies
Jefferies analyst Andrew Tsai started Sage Therapeutics with a Buy rating and $195 price target. The analyst views Sage as "one of the cleaner, de-risked growth stories currently in biotech." The company is reshaping the depression-treatment paradigm, particularly given Zulresso and next-gen oral SAGE-217, Tsai tells investors in a research note. His doctor checks suggest SAGE-217's sales opportunity could be $4B-$6B, which he notes is likely above consensus.
02/22/19
GUGG
02/22/19
INITIATION
Target $205
GUGG
Buy
Sage Therapeutics initiated with a Buy at Guggenheim
Guggenheim analyst Yatin Suneja initiated Sage Therapeutics with a Buy rating and $205 price target, as he believes Zulresso and SAGE-217 have generated impressive data in PPD and MDD. The analysts, who thinks those drugs "have the potential to change the treatment paradigm for treating mood disorders," projects Zulresso and SAGE-217 could generate sales in the $3B-$5B range.
EYEN Eyenovia
$6.50

(0.00%)

04/24/19
OPCO
04/24/19
INITIATION
Target $9
OPCO
Outperform
Eyenovia initiated with an Outperform at Oppenheimer
Oppenheimer initiated Eyenovia with an Outperform and $9 price target.
04/25/19
OPCO
04/25/19
INITIATION
Target $9
OPCO
Outperform
Oppenheimer bullish on Eyenovia, initiates with an Outperform
As previously reported, Oppenheimer analyst Esther Rajavelu started coverage of Eyenovia with an Outperform rating and a $9 price target. As its business model targets cash-pay customers initially, and third-party payers over the longer term, the analyst believes the company may be well positioned to generate a diversified stream of revenues with varying margin profiles.
01/30/19
LTCO
01/30/19
NO CHANGE
Target $35
LTCO
Buy
MIST-1 positive results provide further de-risking of Eyenovia's programs, says Ladenburg
Ladenburg analyst Matthew Kaplan notes that Eyenovia announced this morning that the MIST-1 Phase 3 study met its primary endpoint showing statistically significant superiority over the single-agent active control arms. The analyst believes the positive results from the MIST-1 study provide further de-risking of Eyenovia's programs by demonstrating strong efficacy of microdosing, and it is also an important validation of the platform delivery technology. This is particularly meaningful since all the programs use the same fundamental delivery microdose technology, he notes, adding that he looks forward to the readout of the topline Phase 3 results for the MIST-2 study in the near-term, and the presentation of the detailed results from the MIST-1 and MIST-2 trials at a medical conference later this year. Kaplan reiterates a Buy rating and a $35 price target on the shares.
01/30/19
HCWC
01/30/19
NO CHANGE
Target $14
HCWC
Buy
Eyenovia price target raised to $14 after MicroStat data at H.C. Wainwright
After Eyenovia announced results from the Phase 3 MIST-1 study of MicroStat, H.C. Wainwright analyst Raghuram Selvaraju said these are the first positive data in a Phase 3 setting, adding that he believes the data validate the Opteject delivery platform that is also utilized in MicroProst, MicroPine and MicroTears. He has increased his estimate of the probability of success for MicroStat to 75% from 65% and raised his price target on Eyenovia shares to $14 from $12 following the data readout. Selvaraju keeps a Buy rating on Eyenovia, which is up 17% to $3.08 in early afternoon trading.
DXPE DXP Enterprises
$44.52

(0.00%)

04/25/19
JEFF
04/25/19
INITIATION
Target $47
JEFF
Hold
DXP Enterprises initiated with a Hold at Jefferies
Jefferies analyst Stephen Volkmann started DXP Enterprises with a Hold rating and $47 price target. The analyst prefers to wait for a better entry point following the stock's recent run. He awaits a pullback in oil prices and/or a "company specific disconnect" to get more constructive.
11/14/18
SPHN
11/14/18
NO CHANGE
Target $49
SPHN
Overweight
DXP Enterprises price target raised to $49 from $44 at Stephens
Stephens analyst Blake Hirschman raised his price target on DXP Enterprises after raising his FY18 and calendar year 2019 estimates following the company's Q3 report. Organic growth has accelerated for several quarters and Hirschman expects strong top-line growth to continue, he tells investors. Longer-term, he sees significant room for share gains and margin expansion, Hirschman added. He maintains an Overweight rating on DXP shares.
REPL Replimune Group
$16.28

0.96 (6.27%)

04/25/19
04/25/19
INITIATION
Target $24

Outperform
Replimune Group added to Wedbush Best Ideas list, initiated with an Outperform
As previously reported, Wedbush analyst Robert Driscoll started coverage of Replimune Group with an Outperform rating and a $24 price target. The stock was also added to Wedbush's Best Ideas list given high conviction in its next-generation oncolytic virus platform, which is designed to synergize with immune checkpoint blockade. The analyst also sees a high likelihood of success for lead asset RP1, which is currently in a Phase 1/2 study with initial data in the second half of 2019.
04/24/19
WEDB
04/24/19
INITIATION
Target $24
WEDB
Outperform
Replimune Group initiated with an Outperform at Wedbush
Wedbush analyst Robert Driscoll initiated Replimune Group with an Outperform and $24 price target.
01/23/19
JPMS
01/23/19
DOWNGRADE
Target $26
JPMS
Neutral
Replimune Group downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Anupam Rama downgraded Replimune Group to Neutral from Overweight with an unchanged price target of $26. The analyst continues to believe the company will be a key player in the emerging oncolytic immunotherapy field over the long term but he sees shares as range bound in the first half of 2019.
01/23/19
JPMS
01/23/19
DOWNGRADE
JPMS
Neutral
Replimune Group downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Anupam Rama downgraded Replimune Group to Neutral. The analyst made a host of rating changes in the smid cap Biotech space following his firm's Healthcare Conference.

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