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ABT

Abbott

$76.40

0.17 (0.22%)

, ABBV

AbbVie

$77.89

-0.14 (-0.18%)

04:55
05/10/19
05/10
04:55
05/10/19
04:55

American Academy of Neurology to hold a meeting

2019 AAN Annual Meeting will be held in Philadelphia, PA on May 4-10.

ABT

Abbott

$76.40

0.17 (0.22%)

ABBV

AbbVie

$77.89

-0.14 (-0.18%)

ACAD

Acadia

$25.98

-0.17 (-0.65%)

ACOR

Acorda Therapeutics

$11.63

-0.12 (-1.02%)

ALXN

Alexion

$131.76

-1.87 (-1.40%)

AGN

Allergan

$140.34

0.29 (0.21%)

ALNY

Alnylam

$72.09

1.96 (2.79%)

AMGN

Amgen

$172.84

0.71 (0.41%)

BIIB

Biogen

$228.40

-2.58 (-1.12%)

BSX

Boston Scientific

$37.06

0.35 (0.95%)

CELG

Celgene

$95.49

-0.24 (-0.25%)

FMS

Fresenius Medical

$41.14

-0.19 (-0.46%)

DGX

Quest Diagnostics

$98.75

0.85 (0.87%)

IONS

Ionis Pharmaceuticals

$67.38

-1.37 (-1.99%)

JAZZ

Jazz Pharmaceuticals

$139.93

-0.69 (-0.49%)

LLY

Eli Lilly

$115.85

-0.44 (-0.38%)

LIVN

LivaNova

$70.91

-0.995 (-1.38%)

TEVA

Teva

$14.47

-0.13 (-0.89%)

SRPT

Sarepta

$118.78

4.38 (3.83%)

RHHBY

Roche

$0.00

(0.00%)

RTRX

Retrophin

$17.98

0.03 (0.17%)

NVS

Novartis

$81.04

-0.81 (-0.99%)

MYL

Mylan

$22.75

0.87 (3.98%)

NBIX

Neurocrine

$78.95

-1.72 (-2.13%)

MRK

Merck

$78.31

0.11 (0.14%)

MCK

McKesson

$134.65

2.93 (2.22%)

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ABT Abbott
$76.40

0.17 (0.22%)

04/18/19
LSCM
04/18/19
NO CHANGE
Target $100
LSCM
Buy
Investors should buy into Tandem Diabetes 'fire sale,' says Lake Street
Lake Street analyst Brooks O'Neil attributes the recent selloff in shares of Tandem Diabetes (TNDM) to investor fears related to the potential implications of "Medicare For All." Yesterday, the decline also appeared to "draw fuel from the strong growth" Abbott (ABT) reported for its Libre glucose monitor for diabetics, O'Neil tells investors in a research note titled "Fire Sale. Should You Buy? Yes. There Is No Fire. Affirm BUY, $100 PT." The analyst doubts the healthcare system will be changed significantly and on Libre, he says, "We're sorry, but we believe investors are either badly confused or just plain wrong." Abbott offers a low-cost version of the monitoring system but does not compete in any way with Tandem in its pump market, says the analyst. Rather, O'Neil thinks there are "potentially significant positives" for Tandem Diabetes related to the "enormous success" of Abbott's Libre franchise. The analyst sees an "extraordinarily positive" outlook for Tandem Diabetes and recommends buying the shares on the recent pullback. He affirms a Buy rating on the shares with a $100 price target.
04/15/19
RBCM
04/15/19
NO CHANGE
Target $82
RBCM
Sector Perform
Abbott price target raised to $82 from $77 at RBC Capital
RBC Capital analyst Brandon Henry raised his price target on Abbott to $82 ahead of its Q1 results, saying the "pattern of revenue growth" seen last year should continue this quarter as Core Laboratory, Electrophysiology, Structural Heart, and Diabetes Care product categories "lead the way." The analyst also expects Abbott's organic revenue growth in the Medical Devices segment to come at the high end of guidance, adding that while his new price target implies a multiple of 22.5-times vs. peer group's 21-times, he believes that the company's growth profile justifies the valuation premium. Henry recommends that investors buy the stock on "any weakness".
04/03/19
JPMS
04/03/19
NO CHANGE
Target $175
JPMS
Overweight
JPMorgan remains 'very bullish' on DexCom despite Libre 2.0 uncertainty
The latest DexCom (DXCM) controversy is "whirling speculation" around Abbott's (ABT) Libre 2.0 launch, JPMorgan analyst Robbie Marcus tells investors in a research note. The analyst keeps an Overweight rating on DexCom shares with a $175 price target but expects uncertainty over Libre 2.0 to remain an overhang until it receives U.S. approval. However, he remains "very bullish" on the shares and sees "significant upside" to 2019 estimates. DexComis the best positioned in diabetes longer-term, Marcus contends.
04/29/19
PIPR
04/29/19
NO CHANGE
Target $165
PIPR
Overweight
Piper reiterates Overweight on DexCom after 'robust' teen survey results
There were 8,042 responses to Piper Jaffray's teen survey in February and March, of which 1,707 have diabetes or a member of their household does, analyst JP McKim tells investors in a research note. The survey implies underlying continuous glucose monitoring market growth of close to 58%, says the analyst. Abbott (ABT) reported 70% Libre growth in Q1 and DexCom (DXCM) reports May 1, McKim points out. He expects "continued strong growth" from DexCom following the "robust" survey results and reiterates an Overweight rating on the shares with a $165 price target.
ABBV AbbVie
$77.89

-0.14 (-0.18%)

04/28/19
BMOC
04/28/19
UPGRADE
Target $79
BMOC
Market Perform
AbbVie upgraded to Market Perform from Underperform at BMO Capital
BMO Capital analyst Alex Arfaei upgraded AbbVie to Market Perform from Underperform and raised his price target for the shares to $79 from $71. The stock closed Friday up 29c to $79.70. The analyst says his bearish thesis has mostly materialized and that he's now more bullish on Skyrizi and Upa. AbbVie can leverage its rebates to secure superior access in the U.S. and drive "strong" launches, Arfaei tells investors in a research note. He believes after a flat 2019, Skyrizi, Upa, Imbruvica/Venclexta and Orilissa should drive 4%-6% revenue growth during 2020-2022. This should improve sentiment on shares of AbbVie, says the analyst.
04/11/19
EVER
04/11/19
INITIATION
Target $30
EVER
Outperform
Myovant Sciences initiated with an Outperform at Evercore ISI
Evercore ISI analyst Ravi Mehrotra initiated Myovant Sciences (MYOV) with an Outperform rating and a price targets of $30. The analyst says the company's lead program relugolix has been clinically de-risked with near-term pivotal data readouts. Mehrotra is modeling revenues of $944M for the program by 2023 thanks to its "commercial advantage of a one-a-day pill" and the "second-mover leverage of competitor AbbVie's (ABBV) efforts to raise awareness and diagnosis" in woman's health market.
03/25/19
03/25/19
DOWNGRADE

Hold
AbbVie downgraded to Hold from Buy at Argus
As previously reported, Argus analyst David Toung downgraded AbbVie to Hold, saying its flagship program Humira "no longer looks invulnerable to competition from biosimilars in Europe and other overseas markets." The analyst notes that Humira is also faced with "indirect competition from newer drugs that have an alternative mechanism of action" compared to Humira's anti-TNF class. Toung further cites AbbVie's clinical setback with Venclexta, which highlights the risks for the company as it develops a pipeline aimed to offset the expected decline in Humira sales.
03/26/19
WBLR
03/26/19
UPGRADE
WBLR
Outperform
William Blair upgrades Vertex to Outperform after 'subpar' competitor data
William Blair analyst Y. Katherine Xu upgraded Vertex Pharmaceuticals (VRTX) to Outperform from Market Perform on expectations the company's cystic fibrosis franchise will continue dominating after Proteostasis (PTI) reported disappointing triplet data. Proteostasis' triplet efficacy falls short of the high bar set by the Vertex triples, Xu tells investors in a research note. While Proteostasis is starting a Phase II study of the triplet that would include a higher PTI-808 dose and test a longer duration aiming to optimize response with data out around year-end 2019, the chance of it matching or exceeding Vertex triple efficacy is "very low," contends the analyst. With both Galapagos (GLPG)/AbbVie (ABB) and Proteostasis having shown "subpar data," Xu is upgrading Vertex shares to Outperform and raised her fair value estimate for the shares to $222 from $178. The analyst maintains her high probability of success of a Vertex triple combo reaching the cystic fibrosis market at 90% and ascribe peak sales of $10.2B, up from $8.9 billion previously.
ACAD Acadia
$25.98

-0.17 (-0.65%)

05/01/19
PIPR
05/01/19
NO CHANGE
Target $35
PIPR
Overweight
Acadia price target raised to $35 from $30 at Piper Jaffray
Piper Jaffray analyst Danielle Brill raised her price target on Acadia to $35 and kept her Overweight rating after its better than expected Q1 sales of Nuplazid that was driven by "accelerated growth in new patient starts." The analyst further cites the management's increased FY19 Nuplazid midpoint sales guidance and also sees "significant unrealized value" for the company's dementia related psychosis programs.
02/27/19
PIPR
02/27/19
NO CHANGE
Target $30
PIPR
Overweight
Acadia price target raised to $30 from $25 at Piper Jaffray
Piper Jaffray analyst Danielle Brill raised her price target for Acadia Pharmaceuticals to $30 following the company's Q4 results. The analyst expects Nuplazid' "modest" revenue growth to continue as safety concerns "slowly subside." She also anticipates a beneficial impact to 2019 sales from the ongoing direct-to-consumer campaign. As such, the company's fiscal 2019 guidance of $275M-$300M "appears in line and readily achievable," Brill tells investors in a post-earnings research note. With Acadia beginning two Phase 3 major depressive disorder trials in the first half of 2019, the analyst expects the shares to start reflecting value for the indication as the program continues to advance. She introduced probability-adjusted numbers at a 25% chance of success into her model and keeps an Overweight rating on Acadia.
02/27/19
ADAM
02/27/19
NO CHANGE
Target $27
ADAM
Hold
Canaccord says Acadia shares 'getting interesting,' raises price target to $27
Canaccord analyst Sumant Kulkarni said Acadia reported decent Q4 results, with Nuplazid sales coming in in-line with expectations. The outlook was solid, suggesting the media issues the drug faced are behind it, which is encouraging, said Kulkarni. With that out of the way, the analyst believes the stock is getting more interesting heading into data readouts for the company's dementia and schizophrenia drugs. Kulkarni maintained his Hold rating and raised his price target to $27 from $23 on Acadia shares.
12/10/18
ADAM
12/10/18
INITIATION
Target $23
ADAM
Hold
Acadia initiated with a Hold at Canaccord
Canaccord analyst Sumant Kulkarni initiated Acadia Pharmaceuticals with a Hold rating and $23 price target. In a research note to investors, Kulkarni says that while he believes Acadia is a core holding for investors seeking exposure to central nervous system, or CNS, companies with commercial assets, he believes the risk/reward on the stock is balanced ahead of potential issuance of the company's initial 2019 outlook for Nuplazid in Parkinson's Disease psychosis, or PDP, and views his sales estimate for Nuplazid as "reasonable," though he admits he has low visibility heading into the event.
ACOR Acorda Therapeutics
$11.63

-0.12 (-1.02%)

12/11/18
12/11/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Pfizer (PFE) downgraded to Neutral from Overweight at JPMorgan with analyst Christopher Schott citing valuation. 2. Splunk (SPLK) resumed with a Neutral from Buy at Guggenheim with analyst Imtiaz Koujalgi saying while the company's fundamentals are strong, he's "looking for more clarity." 3. CalAmp (CAMP) downgraded to Outperform from Strong Buy at First Analysis and to Market Perform from Outperform at Northland. 4. Acorda Therapeutics (ACOR) downgraded to Sell from Neutral at Goldman Sachs with analyst Salveen Richter saying the commercial outlook for Inbrija appears limited. 5. Versum Materials (VSM) downgraded to Sell from Neutral at Goldman Sachs with analyst Toshiya Hari saying while he remains constructive on the Semiconductor Materials sub-sector broadly, he believes the market is underestimating the extent to which weaker semiconductor capital expenditures could negatively impact the Delivery Systems and Services segment. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/24/18
STFL
12/24/18
NO CHANGE
STFL
Hold
Stifel keeps Hold rating on Acorda following approval of Inbrija
Stifel analyst Paul Matteis keeps a Hold rating on Acorda Therapeutics following the earlier than expected approval of Inbrija for the treatment of OFF episodes associated with Parkinson's disease. The analyst believes Inbrija "definitely fills a major void in the PD standard-of-care, and can gain real market share over time." However, he expects a slower ramp due to reimbursement and the need for physicians to garner comfort with prescribing a hand-held/inhaled product to a patient population with severe motor deficits. Nonetheless, the label "looks as good as one would've hoped," Matteis tells investors in a research note.
12/26/18
GSCO
12/26/18
NO CHANGE
Target $10
GSCO
Sell
Goldman Sachs sees only niche opportunity for Inbrija, keeps Acorda at Sell
After the FDA approved Acorda Therapeutics' Inbrija for intermittent treatment of OFF episodes in people with Parkinson's disease treated with carbidopa/levodopa, Goldman Sachs analyst Salveen Richter said he assumes annual pricing of $4,800, which he estimates will translate to about $550M in U.S. peak sales, lower than the company's guidance of over $800M. His checks with key opinion leader doctors point to Inbrija being a niche drug, said Richter, who adds that sees limited optionality in its remaining pipeline assets, which are "still early or risky." Richter maintains a Sell rating on Acorda shares with a $10 price target.
01/04/19
HCWC
01/04/19
NO CHANGE
Target $33
HCWC
Buy
Acorda Therapeutics price target raised to $33 from $30 at H.C. Wainwright
H.C. Wainwright analyst Raghuram Selvaraju raised his price target for Acorda Therapeutics to $33 saying FDA approval for the company's lead clinical candidate Inbrija bodes well for 2019. The label does not appear to contain any overly onerous restrictions, Selvaraju tells investors in a research note. He reiterates a Buy rating on Acorda.
ALXN Alexion
$131.76

-1.87 (-1.40%)

04/25/19
PIPR
04/25/19
NO CHANGE
Target $180
PIPR
Overweight
Piper remains buyer of Alexion shares to levels approaching $180
Piper Jaffray analyst Christopher Raymond says Alexion Pharmaceuticals reported "another strong quarter" and its seventh consecutive quarterly raise. The commercial story is playing out as hoped, and management is taking a characteristically conservative approach to guidance, Raymond tells investors in a research note. He remains a buyer of the stock to levels approaching $180 and keeps an Overweight rating on the name. Alexion remains the analyst's top large-cap pick. The stock in late day trading is up 4% to $135.30.
04/02/19
PIPR
04/02/19
NO CHANGE
PIPR
Overweight
Piper says AAN meeting should be 'meaningful' for Alexion, Biogen
Piper Jaffray analyst Christopher Raymond reported that the American Academy of Neurology posted emerging science abstract titles this morning, adding that full abstracts are not anticipated until May 3. It appears Phase 3 data on Alexion's (ALXN) Soliris for Neuromyelitis Optica Spectrum Disorder, or NMOSD, will be presented as an emerging science abstract and that data from a Phase 1/2 study of Biogen's (BIIB) BIIB067 in SOD1 mutant ALS patients will also be presented, making the meeting potentially "meaningful" for both. Raymond keeps Overweight ratings on Alexion and Biogen.
04/10/19
RAJA
04/10/19
INITIATION
Target $161
RAJA
Outperform
Alexion resumed with an Outperform at Raymond James
Raymond James analyst Steven Seedhouse resumed coverage of Alexion with an Outperform rating and $161 price target, citing what he sees as good visibility into continued growth as the company works to switch patients from Soliris to Ultomiris and pursues subcutaneous follow-on products to extend "existing, successful franchises." He models upside even without any pipeline contributions, the analyst noted.
03/20/19
PIPR
03/20/19
NO CHANGE
PIPR
Overweight
Alexion turnaround 'on full display' at investor meeting, says Piper Jaffray
After attending Alexion's investor day meeting, Piper Jaffray analyst Christopher Raymond keeps an Overweight rating and said he remains a buyer of the stock, stating that he sees the company's two newly announced collaborations with Zealand Pharma and Affibody as a continuation of a recent trend of "bolt-on deals with good strategic logic." He came away from the meeting with increased confidence in management's strategy and ability to execute given data pointing to robust Soliris-to-Ultomiris conversion and rapid Soliris gMG uptake, Raymond added.
AGN Allergan
$140.34

0.29 (0.21%)

05/01/19
WELS
05/01/19
NO CHANGE
WELS
Outperform
Wells hopes Allergan shareholder vote marks end of 'distractive narrative'
Wells Fargo analyst David Maris says he's hopeful that Allergan shareholders voting in favor of a combined CEO/Chairman role "marks a turn of the distractive narrative" from break-up speculation to a focus on longer-term execution and pipeline. After speaking with a number of dermatologists and cosmetic surgeons in recent weeks, Maris fells optimistic about U.S. aesthetic market growth in Q1. The analyst maintains an Outperform rating on Allergan shares into the company's Q1 results on May 7.
04/15/19
04/15/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Pinterest (PINS) initiated with a Neutral at DA Davidson. 2. Five Below (FIVE) initiated with a Buy at BofA/Merrill. 3. Levi Strauss (LEVI) initiated with an Outperform at Telsey Advisory, an Overweight at JPMorgan, a Buy at Citi and Guggenheim, an Equal Weight at Morgan Stanley, and a Neutral at Goldman Sachs and BofA/Merrill. 4. Tocagen (TOCA) initiated with a Market Perform at SVB Leerink. 5. Alcon (ALC) initiated with a Buy at Jefferies, while Allergan (AGN) was initiated with a Hold. 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
WELS
04/24/19
NO CHANGE
Target $189
WELS
Outperform
Ipsen commentary a positive for Allergan's Botox business, says Wells Fargo
Wells Fargo analyst David Maris notes that Ipsen (IPSEY) reported Q1 results and reported overall sales of Dysport of approximately EUR$94M, up 10% over Q1 2018, citing strong performance in the U.S. in both therapeutics and aesthetics. The analyst believes the commentary from Ipsen is a positive read through to Allergan (AGN) and its key franchise, Botox, in the near-future and over the longer-term. Allergan has cited market expansion as a tailwind for Botox in the past as well, and Ipsen's commentary reiterates that viewpoint, he adds. Maris reiterates an Outperform rating and a $189 price target on Allergan's shares.
05/08/19
RBCM
05/08/19
NO CHANGE
Target $140
RBCM
Sector Perform
Allergan price target lowered to $140 from $165 at RBC Capital
RBC Capital analyst Randall Stanicky lowered his price target on Allergan to $140 and kept his Sector Perform rating, saying that while the company has outperformed with Q1 earnings and raised its FY19 revenue view, the management's affirmed 5% medium-term growth forecast is "aggressive". The analyst believes that capital deployment will likely be needed to meets Allergan's targets and also points to the "lack of meaningful catalysts to drive upside" along with the management's lacking appetite to "reverse recent headwinds" with strategic alternatives.
ALNY Alnylam
$72.09

1.96 (2.79%)

05/01/19
PIPR
05/01/19
NO CHANGE
Target $142
PIPR
Overweight
Alnylam shares reacting to increased expense guidance, says Piper Jaffray
Piper Jaffray analyst Edward Tenthoff noted that Alnylam reported Q1 Onpattro sales of $26M, which beat his $14M estimate and the consensus forecast of $19M. Despite the Onpattro sales beat and trends that he said underscore the drug's "best-in-class profile," Tenthoff said the stock is reacting negatively to management having increased their 2019 expense guidance. The analyst, who raised his 2019 Onpattro sales forecast to $127M from $82M, keeps an Overweight rating and $142 price target on Alnylam. Near 11 am ET, Alnylam shares are down 4% to $85.49.
04/15/19
PIPR
04/15/19
NO CHANGE
Target $142
PIPR
Overweight
Lumasiran could give Alnylam 3 RNAi drugs approved by 2021, says Piper Jaffray
After Alnylam presented new Phase 2 open-label extension data for lumasiran in primary hyperoxaluria type 1 patients, Piper Jaffray analyst Edward Tenthoff said he believes that lumasiran could become Alnylam's third approved RNAi drug after the expected approval in 2020 of givosiran to combine with currently marketed Onpattro. The analyst, who projects lumasiran to launch in 2021 and for sales to exceed $1B by 2024, keeps an Overweight rating and $142 price target on Alnylam shares.
04/15/19
BMOC
04/15/19
NO CHANGE
Target $126
BMOC
Outperform
Alnylam price target raised to $126 from $119 at BMO Capital
BMO Capital analyst Do Kim raised his price target on Alnylam to $126 and kept his Outperofrm rating after the company's presented Givosiran phase 3 data at EASL, also raising his probability of success estimate for the program to 100% from 70%. Based on the "clear, robust efficacy and reasonable safety for an ultra-rare disease with limited treatment options", the analyst believes that Givosiran's risk/benefit profile supports approval, adding that the already granted "breakthrough" designation for the program by the FDA and PRIME designation by the EMA should further facilitate approval. Do Kim expects the approval to take place in early 2020 after U.S. and E.U. regulators complete their rolling submissions in mid-2019.
05/07/19
PIPR
05/07/19
NO CHANGE
Target $142
PIPR
Overweight
Piper more confident in estimates for Alnylam's Onpattro after doctor survey
Piper Jaffray analyst Edward Tenthoff reiterates an Overweight rating on Alnylam Pharmaceuticals (ALNY) with a $142 price target after surveying 16 physicians treating 490 hereditary transthyretin amyloidosis patients with polyneuropathy. Doctors have a "clear preference" for Alnylam's Onpattro over Onpattro and Ionis Pharmaceuticals' (IONS) Tegsedi, with efficacy, safety, and experience being cited, Tenthoff tells investors in a research note. Roughly two-thirds of existing and new gene silencer patients are prescribed Onpattro, says the analyst. Based on the survey results, the analyst is increasingly confident in his 2019 Onpattro sales estimates of $127M.
AMGN Amgen
$172.84

0.71 (0.41%)

04/18/19
PIPR
04/18/19
NO CHANGE
PIPR
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."
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.
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.
04/10/19
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.
BIIB Biogen
$228.40

-2.58 (-1.12%)

05/07/19
MSCO
05/07/19
NO CHANGE
MSCO
Biogen could rise, or fall, 5% based on Zolgensma label, says Morgan Stanley
Morgan Stanley analyst Matthew Harrison noted that Novartis' (NVS) gene therapy for the rare disease spinal muscular atrophy, Zolgensma, is expected to be approved by the FDA this month. He also noted that Biogen's (BIIB) Spinraza is currently the only approved drug for SMA and represents 17% of Biogen's estimated 2019 sales. The public data for Novartis' Zolgensma are only in type 1 patients, or infants, said Harrison, who sees three potential scenarios for the drug's label. In the first, which would involve broad approval across the three patient classes of infants, children and adults, Harrison thinks Novartis shares could be up 1-2%, Biogen could fall about 5%, Ionis (IONS), which receives royalties from Biogen, could be down about 10%, and Regenxbio (RGNX), which will receive royalties from Novartis, could be up 10-15% or more. In the second case, where Zolgensma is granted a Type 1 approval with no restriction, Harrison sees Novartis unchanged, Biogen down 1-3%, Ionis falling 3-5% and Regenxbio rising 5%. In the third scenario, where Zolgensma gets a Type 1 approval but with a weight/age restriction, the analyst thinks Novartis would be down 1-2%, Biogen would be up 2-3%, Ionis could rise 5% and Regenxbio could fall 5-10%. Harrison's base case assumption is that Zolgensma will ultimately capture the majority market share in type 1 patients and a "significant portion" of type 2, or pediatric, patients.
05/02/19
PIPR
05/02/19
NO CHANGE
Target $280
PIPR
Overweight
Owning Biogen shares here 'makes a lot of sense,' says Piper Jaffray
Owning Biogen (BIIB) shares at these levels "makes a lot of sense," Piper Jaffray analyst Christopher Raymond tells investors in a research note after hosting management meetings with investors. With valuation and sentiment near all-time lows, the company needs only a few things to go right in order for the stock to start working again, says the analyst. He believes a number of near term catalysts, namely a settlement with Mylan (MYL) over Tecfidera and positive pipeline updates, could "meaningfully change the narrative" on Biogen shares. Raymond keeps an Overweight rating on the name with a $280 price target.
05/09/19
LEHM
05/09/19
NO CHANGE
Target $245
LEHM
Equal Weight
Barclays cuts Biogen target to $245 on reduced Spinraza estimates
Barclays analyst Geoff Meacham lowered his price target for Biogen (BIIB) to $245 from $250 citing growing uncertainty in spinal muscular atrophy. Concerns over Spinraza in spinal muscular atrophy have intensified with the impending launch of Novartis' (NVS) gene therapy Zolgensma and Roche (RHHBY)/PTC's (PTCT) oral risdiplam, Meacham tells investors in a research note. The analyst says his feedback from key opinion leaders was "direct and unequivocal," with the leaders predicting "robust uptake" of both Zolgensma and risdiplam given signs of improved efficacy. This was at the expense of Spinraza driven by the clinical burden of intrathecal injections, says Meacham. On the basis of this feedback, he lowered his longer-term Spinraza outlook by ~$150M per year. The analyst now forecasts sales of $2.0B in 2019, declining to $1.7B in 2023. He keeps an Equal Weight rating on Biogen.
04/24/19
PIPR
04/24/19
NO CHANGE
Target $280
PIPR
Overweight
Piper still recommends Biogen despite 'not the best' quarter
Piper Jaffray analyst Christopher Raymond continues to recommend Biogen shares following this morning's Q1 results. While the quarter was "not the best," near-term catalysts warrant staying involved, including clinical updates for BIIB067 and BIIB098 head-to-head data versus Tecfidera expected in mid-2019, Raymond tells investors in a research note. Ahead of a Q4 regulatory decision for BIIB098, the analyst continues to like the upside potential for the pipeline. He keeps an Overweight rating on Biogen with a $280 price target.
BSX Boston Scientific
$37.06

0.35 (0.95%)

04/16/19
WELS
04/16/19
NO CHANGE
WELS
Boston Scientific mesh sales impacted by FDA recall about $25M, says Wells Fargo
Wells Fargo analyst Larry Biegelsen says that Boston Scientific has informed him that total mesh sales are about $100M and that the products impacted by the FDA recall represent a subset of those sales or about $25M or 0.3% of total sales. The firm had previously stated that the mesh sales impacted by the FDA recall were about $100M in 2018. Biegelsen notes that the lower figure should be "more manageable" for the company. According to the analyst, Boston Scientific is surprised and disappointed by the FDA's decision, which impacts Uphold LITE Vaginal Support System and the Xenform Soft Tissue Repair Matrix for pelvic organ prolapse.
04/23/19
PIPR
04/23/19
NO CHANGE
Target $42
PIPR
Overweight
Boston Scientific Lotus approval may accelerate share gains, says Piper Jaffray
Piper Jaffray analyst Matt O'Brien kept his Overweight rating and $42 price target on Boston Scientific after its "long anticipated" FDA approval of Lotus Edge transcatheter aortic valve replacement, or TAVR, product. The analyst believes that with the combination of differentiated features and the "buzz at previous medical conferences" about the relaunch may accelerate the company's market share capture in the TAVR space. O'Brien calls today's news a "strong positive" for the stock given the "recent transvaginal surgical mesh notice and paclitaxel concerns."
04/16/19
PIPR
04/16/19
NO CHANGE
Target $42
PIPR
Overweight
Boston Scientific should be bought on surgical mesh selloff, says Piper Jaffray
Piper Jaffray analyst Matt O'Brien recommends using the selloff today in shares of Boston Scientific after the FDA ordered all manufacturers of surgical mesh intended for transvaginal repair to stop selling and distributing their products immediately as a buying opportunity. Mesh products have been declining for several years at Boston Scientific and represented only ~1% of revenue in 2018, O'Brien tells investors in an intraday research note. The analyst estimates the company's revenue will be negatively impacted by less than $50M in 2019. Further, Boston Scientific is currently working with the FDA on a resolution, adds the analyst. Boston Scientific still has a "plethora of high-growth product launches fully intact" including Lotus, Acurate neo, and Watchman in Japan, "which should help cushion any lost revenue," says O'Brien. He has an Overweight rating on the shares with a $42 price target. The stock in afternoon trading is down 4% to $36.34.
04/16/19
PIPR
04/16/19
NO CHANGE
Target $42
PIPR
Overweight
Boston Scientific selloff today a buying opportunity, says Piper Jaffray
CELG Celgene
$95.49

-0.24 (-0.25%)

05/03/19
JPMS
05/03/19
INITIATION
Target $62
JPMS
Overweight
Bristol-Myers reinstated with an Overweight at JPMorgan
Following a period of restriction, JPMorgan analyst Chris Schott reinstated coverage of Bristol-Myers Squibb (BMY) with an Overweight rating and $62 price target. The analyst had an Overweight rating on the shares and price target of $70 prior to restriction. While the company's proposed acquisition of Celgene (CELG) has been controversial, the shares are "too inexpensive to ignore," Schott tells investors in a research note. He sees the combined company generating 2020 earnings of $6.50 per share and 3% sales/6% earnings growth off of this base through 2025.
05/03/19
LEHM
05/03/19
DOWNGRADE
Target $102
LEHM
Equal Weight
Celgene downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Geoffrey Meacham downgraded Celgene (CELG) to Equal Weight from Overweight to reflect his increased confidence that the takeover by Bristol-Myers (BMY) will close. The analyst, who upgraded Bristol-Myers this morning to Overweight, says his thesis on Celgene has played out. He keeps a $102 price target for the shares.
05/03/19
LEHM
05/03/19
UPGRADE
Target $55
LEHM
Overweight
Bristol-Myers upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Geoffrey Meacham upgraded Bristol-Myers Squibb (BMY) to Overweight from Equal Weight and raised his price target for the shares to $55 from $53. The analyst says increased confidence in the Celgene (CELG) acquisition successfully closing makes him more bullish on Bristol-Myers shares. Increased optionality from the Celgene pipeline along with a "differentiated" growth profile and earnings power over the next few years make the combined company attractive at current share levels, Meacham tells investors in a research note.
05/07/19
PIPR
05/07/19
NO CHANGE
Target $23
PIPR
Overweight
Sutro regaining U.S. rights from Celgene a 'clear positive,' says Piper Jaffray
The FDA has cleared the investigational new drug application for Sutro Biopharma's Celgene-partnered BCMA ADC, which is on track to enter the clinic in 2019, Piper Jaffray analyst Edward Tenthoff tells investors in a research note. In addition, Celgene not exercise an option on a second program, meaning Sutro has regained U.S. rights, adds the analyst. He views this as a "clear positive" for Sutro, saying the company has regained the U.S. rights to "another exciting preclinical program." Importantly, there is no impact on Sutro's wholly-owned clinical programs, Tenthoff adds. He reiterates an Overweight rating on Sutro Biopharma with a $23 price target.
FMS Fresenius Medical
$41.14

-0.19 (-0.46%)

02/21/19
RHCO
02/21/19
NO CHANGE
Target $48
RHCO
Buy
Fresenius Medical price target raised to $48 from $40 at SunTrust
SunTrust analyst David MacDonald raised his price target on Fresenius Medical to $48 and kept his Buy rating after its Q4 results yesterday, saying the quarter was "marked by solid organic trends, ongoing efficiency gains and strong cash flow." The analyst anticipates the company's 2019 to be a year of investment but sees the incremental spending driving more optimization and positioning Fresenius Medical for "attractive growth opportunities". MacDonald adds that he is positive on the company's pending acquisition of NxStage Medical (NXTM) given the market shift "towards the home".
10/26/18
UBSW
10/26/18
UPGRADE
UBSW
Buy
Fresenius Medical upgraded to Buy from Neutral at UBS
UBS analyst Ian Douglas-Pennant upgraded Fresenius Medical to Buy while lowering his price target for the shares to EUR 82 from EUR 86. The analyst says the Q3 pre-release selloff presents a buying opportunity.
11/20/18
RHCO
11/20/18
NO CHANGE
Target $46
RHCO
Buy
Fresenius Medical price target lowered to $46 from $62 at SunTrust
SunTrust analyst David MacDonald lowered his price target on Fresenius Medical to $46 to reflect its "soft" Q3 results with a lower implied valuation of 10-times forward EBITDA. The analyst believes that given the mixed fundamentals, the stock is a "show me" story, even though he keeps his Buy rating on Fresenius Medical longer term based on its "solid core volume trends, attractive overarching industry drivers, a diversified business model, and strong free cash generation".
10/26/18
UBSW
10/26/18
UPGRADE
UBSW
Buy
Fresenius Medical upgraded to Buy from Neutral at UBS
DGX Quest Diagnostics
$98.75

0.85 (0.87%)

04/24/19
SBSH
04/24/19
NO CHANGE
Target $102
SBSH
Neutral
Quest Diagnostics price target raised to $102 from $93 at Citi
Citi analyst Ralph Giacobbe raised his price target for Quest Diagnostics to $102 from $93 saying the company's Q1 results are encouraging as volumes are beginning to ramp. His new price target reflects the upside in the quarter and greater comfort in Quest hitting its guidance. Giacobbe keeps a Neutral rating on the shares.
04/23/19
BNCH
04/23/19
NO CHANGE
BNCH
UnitedHealth preferred lab launch a long-term plus for Invitae, says Benchmark
Benchmark analyst Bruce Jackson noted that UnitedHealthcare (UNH) plans to launch a Preferred Laboratory Network to include Invitae (NVTA), which he views as a long-term positive for the latter and "another building block for Invitae's strategy to make genetic testing more widely available and more easily reimbursed." Other labs named to the preferred network include LabCorp (LH), Quest Diagnostics (DGX), and BioReference and GeneDx, which are both part of Opko (OPK), the analyst noted. UnitedHealthcare's current network includes NeoGenomics (NEO) and he doesn't anticipate any impact to NeoGenomics from the preferred network launch, added Jackson.
04/30/19
PIPR
04/30/19
NO CHANGE
PIPR
Overweight
Piper says LabCorp may be taking incremental volume from regional payers
After LabCorp (LH) reported a mixed Q1, with better than expected earnings and lower than expected revenue, Piper Jaffray analyst William Quirk said he found it interesting that management noted volumes from UnitedHealth (UNH) and CVS Health's (CVS) Aetna is stable after the initial decline in January. He thinks this implies that LabCorp and Quest (DGX) are likely taking some incremental volume from regional payers, adding that this is sooner than he anticipated following the new managed care deals. However, management "remains coy" about the future impact from other volume consolidating programs, such as UnitedHealth's Preferred Lab Network, according to Quirk. He keeps an Overweight rating on LabCorp shares.
04/24/19
ADAM
04/24/19
NO CHANGE
Target $103
ADAM
Buy
Quest Diagnostics price target raised to $103 from $97 at Canaccord
Canaccord analyst Mark Massaro raised his price target for Quest Diagnostics (DGX) to $103 from $97 and reiterated a Buy rating after the company delivered a "solid" Q1 top and bottom line beat, driven by stronger volume growth than the Street anticipated. Quest is off to a "good start" as it adds new volume growth related to 43M new lives from recent health plan wins from UnitedHealthcare (UNH) and others, and Quest expects volumes to gradually grow throughout this year, Massaro tells investors in a research note.
IONS Ionis Pharmaceuticals
$67.38

-1.37 (-1.99%)

05/09/19
PIPR
05/09/19
NO CHANGE
Target $75
PIPR
Neutral
Ionis Pharmaceuticals shares 'more interesting on pullback', says Piper Jaffray
Piper Jaffray analyst Tyler Van Buren kept his Neutral rating and $75 price target on Ionis Pharmaceuticals after its Q1 results with Spinraza royalties and Tegsedi sales seen "in line with expectations". The analyst believes that the company's pipeline is maturing as it gets ready to launch Waylivra in Europe next quarter and also sees its Huntington's OLE continuing to progress. Van Buren contends that Ionis Pharmaceuticals stock is "becoming more interesting" from a long term investment perspective given the recent pullback in price.
04/22/19
BMOC
04/22/19
NO CHANGE
Target $96
BMOC
Outperform
Ionis Pharmaceuticals price target raised to $96 from $82 at BMO Capital
BMO Capital analyst Do Kim raised his price target on Ionis Pharmaceuticals (IONS) to $96 and kept his outperform rating after including the risk-adjusted royalties for HTT-Rx in his model as part of the update on its partnership with Roche (RHHBY) disclosed last month. The analyst notes that the stock price has started to reflect the company's Huntington's disease opportunity based on the "potential for an accelerated path with Phase 2 data" and believes that his HTT-Rx projections could prove to be "conservative".
JAZZ Jazz Pharmaceuticals
$139.93

-0.69 (-0.49%)

03/21/19
WELS
03/21/19
NO CHANGE
Target $154
WELS
Outperform
Jazz appoval expected but still 'nice win' for shares, says Wells Fargo
Wells Fargo analyst David Maris says FDA approval of solriamfetol for excessive sleepiness associated with narcolepsy or obstructive sleep apnea, while largely expected by investors, is still a "nice win" for shares of Jazz Pharmaceuticals. The analyst estimates sales for solriamfetol of approximately $12M in 2019, ramping to $371M by 2023. Maris reiterates an Outperform rating on Jazz with a $154 price target. Additional potential catalysts for the stock include the Xyrem launch for pediatric indication in late Q1, JZP258 topline results for a Phase 3 study in narcolepsy in Spring 2019, and any update on the business development front, Maris tells investors in a research note. Jazz in midday trading is up 3%, or $3.45, to $137.02.
03/19/19
RHCO
03/19/19
INITIATION
Target $163
RHCO
Buy
Jazz Pharmaceuticals initiated with a Buy at SunTrust
SunTrust analyst Gregg Gilbert started Jazz Pharmaceuticals with a Buy rating and $163 price target. The analyst expects the company to deliver "continued strong" revenue and earnings growth over the next several years. Further, he believes the market may not fully appreciate the size and durability of Jazz's largest product Xyrem.
03/27/19
MZHO
03/27/19
NO CHANGE
Target $147
MZHO
Buy
Jazz Pharmaceuticals price target raised to $147 from $137 at Mizuho
Mizuho analyst Irina Koffler raised her price target for Jazz Pharmaceuticals to $147 from $137 to reflect the recent approval of Sunosi and last night's positive data in the Phase III trial of JZP-258. However, both of these events were largely expected, Koffler tells investors in a research note. She reiterates a Neutral rating on Jazz Pharmaceuticals.
03/19/19
WELS
03/19/19
NO CHANGE
Target $162
WELS
Outperform
Wells Fargo boosts Jazz target to $162, sees 'several' 2019 catalysts
Wells Fargo analyst David Maris raised his 2019 earnings per share estimate for Jazz Pharmaceuticals to $14.58 from $13.81 and 2020 estimate to $16.59 from $16.35 to reflect the company's guidance and annual report. Maris also increased his price target for the shares to $162 from $154. The analyst sees "several catalysts" in 2019 for the stock, including Xyrem launch for pediatric indication in late Q1, JZP-258 topline results for Phase 3 study in narcolepsy in Spring 2019, and the Solriamfetol FDA action date of March 20. Further, investors are looking for a deal to diversify away from Xyrem, and at the end of 2018, Jazz had cash and investments of $825M as well as undrawn capacity on its revolver of $1.6B, Maris tells investors in a research note. He maintains an Outperform rating on the shares.
LLY Eli Lilly
$115.85

-0.44 (-0.38%)

04/24/19
04/24/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Eli Lilly (LLY) upgraded to Buy from Hold at Edward Jones. 2. Snap (SNAP) upgraded to In Line from Underperform at Evercore ISI and to Neutral from Underweight at JPMorgan. 3. Best Buy (BBY) upgraded to Buy from Hold at Jefferies with analyst Jonathan Matuszewski saying survey and data work suggest Best Buy's greater push toward services will drive long-term value and customer wallet share. 4. Procter & Gamble (PG) upgraded to Overweight from Equal Weight at Barclays with analyst Lauren Lieberman saying the market is shrugging off Procter & Gamble's 5% organic sales growth in its fiscal Q3, with many investors thinking this is the best it can get. 5. Sonoco (SON) upgraded to Buy from Hold at Argus with analyst David Coleman saying the stock has outperformed over the past 3 months, benefiting from its "accretive acquisitions, favorable pricing, improvements in productivity, and a lower effective tax rate." This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/23/19
EDJN
04/23/19
UPGRADE
EDJN
Buy
Eli Lilly upgraded to Buy from Hold at Edward Jones
Edward Jones analyst Ashtyn Evans upgraded Eli Lilly to Buy from Hold.
04/22/19
BMOC
04/22/19
NO CHANGE
Target $130
BMOC
Outperform
Eli Lilly price target lowered to $130 from $134 at BMO Capital
BMO Capital analyst Alex Arfaei lowered his price target on Eli Lilly to $130, saying the stock has underperformed along with its peers, and the news around its Tanezumab announced last week was "obviously negative". The analyst is keeping his Outperform rating however and believes that risk-reward on Eli Lilly is still "attractive" based on his "higher forecasts for Trulicity, Taltz, and Jardiance", as well as expectations around "improved margins". Arfaei adds that the company's upcoming REWIND data at the American Diabetes Association summit could be the "next major catalyst" for Eli Lilly shares.
LIVN LivaNova
$70.91

-0.995 (-1.38%)

05/01/19
PIPR
05/01/19
NO CHANGE
Target $90
PIPR
Overweight
LivaNova price target lowered to $90 from $120 at Piper Jaffray
Piper Jaffray analyst Matt O'Brien lowered his price target for LivaNova to $90 from $120 after the company announced Q1 results, with revenues in-line with the company's preannouncement. LivaNova expects Neuromod to be down year over year in 2019, but the analyst believes the impact to the business will be temporary, and he anticipates it will rebound later this year and into 2020. Overall, O'Brien acknowledges the near-term concerns over the story, but continues to believe the base business will stabilize and that the pipeline is receiving no value, making the name an "interesting one for patient investors." He reiterates an Overweight rating on the shares.
04/08/19
JEFF
04/08/19
NO CHANGE
Target $123
JEFF
Buy
LivaNova valuation 'simply too low' after 28% selloff, says Jefferies
Jefferies analyst Raj Denhoy views the 28% selloff in LivaNova shares post the company's Q1 miss as overdone. LivaNova attributed the weakness to patients delaying vagus nerve stimulation to try the newest epileptic drug, Epidiolex, and sales force turnover, Denhoy tells investors in a research note. However, history has shown delays tends to be short lived as new drugs, including Epidiolex, do not cure epilepsy, says the analyst. He adds that patients continue to have seizures and VNS remains an option. Denhoy says LivaNova's current valuation is "simply too low." He lowered his price target for the shares to $123 from $140 and keeps a Buy rating on the name.
04/05/19
STFL
04/05/19
NO CHANGE
Target $100
STFL
Buy
LivaNova price target lowered to $100 from $115 at Stifel
Stifel analyst Rick Wise lowered his price target on LivaNova to $100 after its soft Q1 pre-announcement driven by "more intense FX headwinds", challenges in the U.S. Neuromodulation segment, and the ongoing execution issues at Perceval pressuring the company's Heart Valves sales by 11.4%. Longer term, the analyst is keeping his Buy rating on LivaNova however, citing its "dramatic and positive transformation" over the past 18 months with the divestiture of the lower-margin Cardiac Rhythm Management business and the hiring of a new and experienced management team. Wise believes that the company has the "solid foundation" to grow its revenue and earnings while supporting its "growth-enhancing pipeline investments."
04/05/19
PIPR
04/05/19
NO CHANGE
Target $120
PIPR
Overweight
LivaNova pullback on disappointing Q1 results overdone, says Piper Jaffray
Piper Jaffray analyst Matt O'Brien noted that LivaNova (LIVN) shares are trading down over 25% after the company preannounced disappointing Q1 revenues, which he views as overdone. At current levels, the stock reflects a "modest multiple" for the core business and "essentially nothing" to LivaNova's pipeline, said O'Brien, who thinks the company's pipeline opportunity in Treatment-Resistant Depression, or TRD, is significant. The company blamed its neuromodulation sales miss to the launch of a competitive drug product from GW Pharma (GWPH), but O'Brien believes this business should stabilize by the end of the year, he added. He maintains an Overweight rating on LivaNova shares with a price target of $120.
TEVA Teva
$14.47

-0.13 (-0.89%)

04/22/19
CANT
04/22/19
NO CHANGE
Target $75
CANT
Overweight
Emergent shares largely pricing in Teva approval, says Cantor Fitzgerald
The FDA on Friday granted Teva Pharmaceutical (TEVA) final approval for its generic version of Narcan, Cantor Fitzgerald analyst Brandon Folkes tells investors in a research note. The analyst views the announcement as largely anticipated following the expiration of Teva's 30- month stay last month. Shares of Emergent BioSolutions (EBS) are down 18.7% since reporting Q4 earnings, largely driven by the anticipation of a final approval of Teva's generic naloxone, says Folkes. While Friday's approval is a negative and will continue to create an overhang on Emergent shares, the recent weakness has "adequately accounted for this overhang," he contends. As such, Folkes keeps an Overweight rating on Emergent BioSolutions with a $75 price target.
05/01/19
WELS
05/01/19
NO CHANGE
Target $18
WELS
Market Perform
Teva shares reflect much of bad news, says Wells Fargo
Wells Fargo analyst David Morris kept his Market Perform rating and $18 price target on Teva (TEVA) ahead of its Q1 earnings tomorrow, saying investors have "low expectations" for the quarter after "weak-ish" Sandoz results from Novartis (NVS). The analyst also points to IQVIA (IQV) sales and prescriptions data indicating that Teva generic sales were down 12% in March, 10% in February, and 13% in January, though the decline are "much smaller" than seen in U.S. generics during 2018. Morris further expects Teva to address the risk of opioid litigation that became a concern during the quarter in its earnings call.
04/24/19
WELS
04/24/19
NO CHANGE
WELS
Sandoz results should not be seen as positive for generics, says Wells Fargo
Wells Fargo analyst David Maris sees nothing in the Q1 results from Novartis (NVS) unit Sandoz that points to a dramatically improving U.S. generic pricing environment. We would tot read the Sandoz results as a positive for generic companies such as Teva (TEVA) and Mylan (MYL), and commentary about generic Copxone pricing trends is a negative, Maris tells investors in a research note. He believes Sandoz trends are important to watch as a potential read-through for other generic drug company results. Novartis continues to see higher generic headwinds in the remainder of 2019, Maris points out, citing comments from the earnings call.
05/03/19
CANT
05/03/19
NO CHANGE
Target $16
CANT
Neutral
Teva price target lowered to $16 from $25 at Cantor Fitzgerald
Cantor Fitzgerald analyst Louise Chen lowered her price target for Teva Pharmaceutical to $16 from $25 and keeps a Neutral rating on the shares following the company's Q1 results. The analyst would like to see increased sales and earnings visibility before getting more positive on the stock.
SRPT Sarepta
$118.78

4.38 (3.83%)

04/11/19
EVER
04/11/19
INITIATION
Target $175
EVER
Outperform
Sarepta initiated with an Outperform at Evercore ISI
Evercore ISI analyst Ravi Mehrotra initiated Sarepta with an Outperform rating and a price targets of $175. The analyst cites the company's opportunity in Duchenne muscular dystrophy and dominant position in its domain.
05/09/19
BARD
05/09/19
NO CHANGE
BARD
Outperform
Baird names Sarepta a 'Fresh Pick' ahead of Pfizer data
Baird analyst Brian Skorney named Sarepta as a "Fresh Pick" ahead of the report of competitive data due in late June from Pfizer's (PFE) Duchenne muscular dystrophy program that he predicts will "fall flat." If that turns out to be the case, it should remove the most significant overhang on Sarepta shares, contends Skorney, who keeps an Outperform rating on Sarepta.
04/17/19
BTIG
04/17/19
NO CHANGE
Target $190
BTIG
Buy
Sarepta remains in leading position on DMD and LGMD, says BTIG
BTIG analyst Timothy Chiang kept his Buy rating and $190 price target on Sarepta after attending the MDA Clinical & Scientific Conference this week, saying that its AAVrh74 gene therapies have received "a lot of attention" in the areas of Duchenne Muscular Dystrophy, or DMD, and Limb Girdle Muscular Dystrophy, or LGMD. The analyst also notes that many of the sessions discussing novel potential gene therapies for DMD/LGMD have been "packed with physicians / scientists / industry reps", adding that manufacturing scale up for gene therapies has also been widely discussed.
05/09/19
PIPR
05/09/19
NO CHANGE
Target $208
PIPR
Overweight
Sarepta continues to make progress in gene therapy, says Piper Jaffray
Sarepta Therapeutics continues to make progress on all fronts with their gene therapy platform, Piper Jaffray analyst Danielle Brill tells investors in a research note following the company's Q1 results. Sarepta has now dosed 18 patients in their ongoing microdystrophin gene therapy trial, and remain on track to complete dosing in Q2, says the analyst. She reiterates an Overweight rating on the shares with a $208 price target.
RHHBY Roche
$0.00

(0.00%)

04/17/19
WELS
04/17/19
NO CHANGE
WELS
Outperform
Ionis pullback on Roche update a buying opportunity, says Wells Fargo
Wells Fargo analyst Jim Birchenough reiterated his Outperform rating on Ionis Pharmaceuticals (IONS) following an update today from partner Roche (RHHBY) on its HTT-ASO program for Huntington's disease, stating that he believes the update continues to support potential for accelerated approval filing pending efficacy data that should be updated by year end. When asked during its earnings call about the specific filing strategy of using phase 1 OLE data in comparison to the natural history data, Roche made no comment beyond reiterating that the company will get data, share data with regulators, and work on the fastest way to bring the therapy to patients, said Birchenough. The analyst, who recommends buying Ionis on weakness, added that Roche noted that the company has had initial promising discussion with regulators.
04/17/19
WELS
04/17/19
NO CHANGE
WELS
Wells says Ionis weakness on Roche Huntington's update a buying opportunity
RTRX Retrophin
$17.98

0.03 (0.17%)

04/22/19
LEHM
04/22/19
INITIATION
Target $36
LEHM
Overweight
Retrophin initiated with an Overweight at Barclays
Barclays analyst Geoff Meacham started Retrophin with an Overweight rating and $36 price target.
10/30/18
JEFF
10/30/18
INITIATION
Target $44
JEFF
Buy
Retrophin initiated with a Buy at Jefferies
Jefferies analyst Maury Raycroft started Retrophin with a Buy rating and $44 price target. The company has three Phase III programs and a "robust" commercial portfolio, Raycroft tells investors in a research note. Further, he believes the management team has demonstrated to be reliable with examples of execution.
02/12/19
ADAM
02/12/19
NO CHANGE
Target $36
ADAM
Buy
Retrophin weakness a buying opportunity, says Canaccord
Canaccord analyst Michelle Gilson sees the recent weakness in Retrophin as offering an attractive buying opportunity into several first half catalysts. Specifically, she is looking to proof of concept data for CNSA-001 in PKU patients, April data from its SONAR study of atrasentan in diabetic neuropathy, and the June 30 PDUFA for a new formulation of Thiola. Gilson reiterated her Buy rating and $36 price target on Retrophin shares.
11/19/18
NOMU
11/19/18
INITIATION
Target $57
NOMU
Buy
Retrophin initiated with a Buy at Nomura Instinet
Nomura Instinet analyst Christopher Marai started Retrophin with a Buy rating and $57 price target. The company's pipeline assets address high unmet needs and defined markets, and each could potentially double the company's revenue, Marai tells investors in a research note. He sees "de-risking" events beginning in 2019.
NVS Novartis
$81.04

-0.81 (-0.99%)

05/02/19
FBCO
05/02/19
INITIATION
Target $66
FBCO
Outperform
Alcon initiated with an Outperform at Credit Suisse
Credit Suisse analyst Matt Miksic started coverage of Alcon (ALC) with an Outperform rating and a $66 price target. Recently spun off from parent Novartis (NVS), Alcon is now positioned to deliver improving growth and margins, the analyst contends. Miksic believes the key to the Alcon investment case is the opportunity to increase revenue growth and margins through expanded market share and its leadership positions in cataract, retinal surgery, contact lenses and consumer eye care.
05/09/19
STFL
05/09/19
NO CHANGE
STFL
Buy
Novartis deal makes Aerie 'look like a steal' at current levels, says Stifel
Stifel analyst Annabel Samimy said Novartis' (NVS) agreement to buy Takeda's (TAK) dry eye product Xiidra for $3.4B upfront in cash and up to an additional $1.9B in potential milestone payments "clearly frames the value for innovative ophthalmologic assets" and makes shares of Aerie Pharmaceuticals (AERI) "look like a steal." Applying the same peak sales multiple that Novartis paid for Xiidra implies a market-value of greater than $6B for Aerie, said Samimy, who noted that she does not expect an immediate takeout of Aerie but remains a buyer of the shares.
MYL Mylan
$22.75

0.87 (3.98%)

05/08/19
05/08/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Mylan (MYL) downgraded to Market Perform from Outperform at Wells Fargo with analyst David Maris saying Mylan reported "disappointing" results which missed consensus on several key metrics including revenue and revenue by segment. 2. Inogen (INGN) downgraded to Neutral from Overweight at JPMorgan with analyst Robert Marcus saying the company's in-line Q1 results were overshadowed by a $25M reduction to guidance. 3. Fortive (FTV) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Joshua Pokrzywinski citing the stock's valuation after a 29% year-to-date advance as well as the sector valuation of "high quality industrials". 4. Farmer Bros. (FARM) downgraded to Neutral from Buy at Roth Capital with analyst Gerry Sweeney saying the company's results were hurt by significant operating issues and Mike Keown stepped down as CEO. 5. 2U (TWOU) downgraded to Neutral from Outperform at Credit Suisse with analyst Brad Zelnick noting the company reported Q1 and lowered its fiscal year revenue guidance, primarily accounting for schools tightening their admissions. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/08/19
RBCM
05/08/19
NO CHANGE
Target $26
RBCM
Outperform
Mylan price target lowered to $26 from $45 at RBC Capital
RBC Capital analyst Randall Stanicky lowered his price target on Mylan to $26, saying yesterday's 24% stock price plunge and investor frustration are "justified", even though the magnitude of the sell-off may be "overly punitive." The analyst cites the management's forecasting challenges, "delays in responding to industry change", and governance issues as factors in the stock price decline. Stanicky also keeps his Outperform rating and expects the pressure on the company's board to facilitate change to increase.
05/08/19
WELS
05/08/19
DOWNGRADE
Target $22
WELS
Market Perform
Wells Fargo downgrades Mylan to Market Perform after 'disappointing' quarter
Wells Fargo analyst David Maris downgraded Mylan to Market Perform from Outperform and lowered his price target for the shares to $22 from $33. The stock closed yesterday down 24%, or $6.73, to $21.53. Mylan reported "disappointing" results which missed consensus on several key metrics including revenue and revenue by segment, Maris tells investors in a research note. The analyst says he's downgrading the shares as Mylan continues to perform below his expectations. Even after yesterday's selloff, Maris believes the risks outweigh the valuation given the earnings uncertainty. Further, the lack of any outcome or major announcement about the strategic review suggests the review is not going to result in any material changes, according to Maris.
05/07/19
WELS
05/07/19
DOWNGRADE
Target $22
WELS
Market Perform
Mylan downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst David Maris downgraded Mylan to Market Perform from Outperform and lowered his price target for the shares to $22 from $33.
NBIX Neurocrine
$78.95

-1.72 (-2.13%)

04/29/19
CANT
04/29/19
NO CHANGE
Target $127
CANT
Overweight
Neurocrine selloff an opportunity for 'several reasons,' says Cantor Fitzgerald
Neurocrine Biosciences recently traded lower as Ingrezza was put on updated 2019 National Preferred Formulary exclusions list that Express Scripts (ESRX) published, Cantor Fitzgerald analyst Charles Duncan tells investors in a research note. The analyst sees the selloff as an "opportunity for longer-horizon investors for several reasons." The exclusion is not immediate, and will also have little impact on Ingrezza sales as Express Scripts accounts for less than 1% of the drugs revenue, Duncan writes. He believes Ingrezza will continue to grow with "deepening penetration" of the tardive dyskinesia market as the "pharmaco-economic benefits continue to be realized." The analyst reiterates an Overweight rating on Neurocrine with a $127 price target.
04/26/19
EVER
04/26/19
NO CHANGE
EVER
Neurocrine shares defended at Evercore ISI
04/22/19
JPMS
04/22/19
UPGRADE
Target $106
JPMS
Overweight
JPMorgan upgrades Neurocrine to Overweight after 15% pullback
JPMorgan analyst Anupam Rama upgraded Neurocrine Biosciences to Overweight from Neutral and raised his price target for the shares to $106 from $100. The stock is down ~15% from the mid-January highs, Rama tells investors in a research note. The analyst, however, says his "multiple proprietary analyses" since January "underscore the solid fundamentals of Neurocrine," For example, his March U.S. tardive dyskinesia physician survey shows a preference for Ingrezza over Austedo, anticipated overall branded market growth, and Ingrezza continuing to gain dominant market share over the next 12-24 months. Further, Rama believes the Q1 consensus estimate for Ingrezza could be beatable.
04/22/19
JPMS
04/22/19
UPGRADE
Target $106
JPMS
Overweight
Neurocrine upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Anupam Rama upgraded Neurocrine Biosciences to Overweight from Neutral and raised his price target for the shares to $106 from $100. The analyst cites "solid" fundamentals and the recent pullback in the shares for the upgrade.
MRK Merck
$78.31

0.11 (0.14%)

03/11/19
WBLR
03/11/19
NO CHANGE
WBLR
Outperform
William Blair sum-of-the-parts analysis yields $19.80 value for Pfenex
The majority of Pfenex (PFNX) investor focus has been placed on lead asset PF708, the therapeutic equivalent product candidate to Forteo, William Blair analyst Andy Hsieh tells investors in a research note, citing his talks with clients. The analyst, however, sees "potential for significant value" from the company's collaboration with Jazz Pharmaceuticals (JAZZ). The deal with Jazz could provide patients with an alternative to Erwinaze/Erwinase, which currently suffers from significant supply constraints, and CRM197, a carrier protein that is incorporated as an adjuvant in several vaccine candidates, including Merck's (MRK) pneumococcal vaccine, V114, Hsieh writes. Based on these royalties, the analyst conducted a sum-of-the-parts analysis for Pfenex based on discounted cash flow, and the resulting net present value yielded a value of $19.80 per share. The stock closed Monday at $4.26. The analyst believes the company's "value-creating" catalysts this year, including milestone payment from Jazz for the successful tech transfer of PF743 and PF745 and the approval of PF708, coupled with his valuation analysis, affirm his bullish thesis. Hsieh believes Pfenex shares offer one of the best risk/reward symmetries in small-cap biotech and reiterates an Outperform rating on the name.
03/20/19
SBSH
03/20/19
NO CHANGE
SBSH
Bayer shares likely to remain 'depressed' pending trial success, says Citi
While sentiment will "clearly take a knock" at the second Roundup trial going against Bayer (BAYRY), both verdicts were delivered by juries in California and EUR 22B of litigation risk is already priced into the shares, Citi analyst Peter Verdult tells investors in a research note. The analyst says his legal checks continue to instruct him to be more focused on the upcoming Hall vs. Monsanto trial being held in St Louis from April 1. He says that verdict will better determine whether his estimate of a potential settlement liability of $1B-$6B needs to be refined. However, Bayer shares will "likely remain depressed" until there is evidence of the company prevailing in one or more of the six cases to go to trial in 2019, Verdult contends. He keeps a Buy rating on the stock but prefers other Pharma plays AstraZeneca (AZN), Sanofi (SNY), Novartis (NVS) and Merck (MRK).
03/13/19
CANT
03/13/19
NO CHANGE
Target $95
CANT
Overweight
Merck opportunity in China is underappreciated, says Cantor Fitzgerald
After taking a deeper look at the Chinese PD-1 market, Cantor Fitzgerald analyst Louise Chen believes it could equate to billions of sales that are not yet in the forecasts for Merck's Keytruda. She thinks the peak sales potential of PD-1s in China remains underappreciated. China's pharma market can grow to $225B by 2025, which would support a growing PD-1/PD-L1 market, Chen tells investors in a research note titled "Deep Dive into China: A Complicated but Underappreciated Opportunity." The analyst keeps an Overweight rating on Merck with a $95 price target.
04/24/19
UBSW
04/24/19
NO CHANGE
Target $102
UBSW
Neutral
Procter & Gamble price target raised to $102 from $95 at UBS
UBS analyst Steven Strycula raised his price target on Procter & Gamble (PG) to $102, saying that yesterday's sell-off on investor concerns about the company's ability to boost margin "overlooks" the "upcoming inflection". The analyst keeps his Neutral rating, but notes that the Q3 margin pressure was "transitory" as it was impacted by adverse FX, commodities, higher bonus, and Merck (MRK) integration headwinds.
MCK McKesson
$134.65

2.93 (2.22%)

03/04/19
BARD
03/04/19
NO CHANGE
BARD
Baird investigation finds Ohio, like many buyers, paying too much for drugs
In a research note titled "Major Confusion: Does This Pass Your Sniff Test?," Baird analyst Eric Coldwell details the interplay between Cardinal Health's (CAH) generic marketing company Major Pharmaceuticals and CVS Health (CVS) in Ohio. In Major's catalog is Omeprazole, a generic version of Prilosec, which is available without a subscription. CVS Caremark, which had majority share of pharmacy benefit management services in Ohio, didn't use Maximum Allowable Cost for the product, which led to the state of Ohio paying $6.74 per tablet, or 19 times the amount somebody without a subscription can buy it, Coldwell tells investors in a research note, citing his own investigation. Meanwhile, over the course of five quarters in Ohio, Major's volume market share went from less than 2% to nearly 60% while dollar market share went from 12% to 95%, adds the analyst. He asks, "How does this happen?" The state of Ohio, "like so many other buyers, feels like it is paying too much for drugs," concludes Coldwell.
04/03/19
MSCO
04/03/19
NO CHANGE
MSCO
Morgan Stanley says Walgreens' reimbursement pressure points to distributor risk
Morgan Stanley analyst Ricky Goldwasser said the guidance cut made by Walgreens Boots Alliance (WBA) is due to the same "perfect storm of industry headwinds" addressed by CVS Health (CVS) earlier in the year, including increased reimbursement pressure, lower generic deflation, lower brand inflation and declining comparable sales in the front-end of the store. Though Walgreens management suggested reimbursement headwinds should normalize in fiscal 2020, Goldwasser said he could see more downside from continued reimbursement headwinds and structural changes if new rebate rule comes into play. He also views pharmacy reimbursement pressure as a leading indicator suggesting risk to distributors' sell side margins and earnings, including for AmerisourceBergen (ABC), which Goldwasser notes is part of the WBAD purchasing consortium. Other drug distributors include McKesson (MCK) and Cardinal Health (CAH).
01/17/19
UBSW
01/17/19
INITIATION
Target $134
UBSW
Neutral
McKesson initiated with a Neutral at UBS
UBS analyst Kevin Caliendo started McKesson with a Neutral rating and $134 price target.
04/02/19
WOLF
04/02/19
INITIATION
Target $127
WOLF
Outperform
McKesson initiated with an Outperform at Wolfe Research
Wolfe Research initiated McKesson with an Outperform and $127 price target citing compelling cash flow yields.

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Golar LNG

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Popular

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