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AGN

Allergan

$147.78

1.94 (1.33%)

, OSMT

Osmotica Pharmaceuticals

$3.87

-0.02 (-0.51%)

09:07
05/07/19
05/07
09:07
05/07/19
09:07

Fly Intel: Pre-market Movers

UP AFTER EARNINGS: Dean Foods (DF), up 10%... Crocs (CROX), up 6%... Ferrari (RACE), up 4%... Allergan (AGN), up 1%. ALSO HIGHER: Osmotica Pharmaceuticals (OSMT), up 17% after announcing topline results of its second Phase 3 efficacy and safety clinical trial of RVL and long-term Phase 3 safety study for the treatment of ptosis... MediWound (MDWD), up 5% after entering into an exclusive license and supply agreement with Vericel (VCEL) to commercialize NexoBrid in North America. DOWN AFTER EARNINGS: AB InBev (BUD), down 2%... Emerson (EMR), down 4%... Lumentum (LITE), down 1%... Intersect ENT (XENT), down 21%. ALSO LOWER: Catalyst (CPRX), down 40% after the FDA approved competitor Jacobus Pharmaceuticals' Ruzurgi tablets for the treatment of Lambert-Eaton myasthenic syndrome, or LEMS, in patients 6 to less than 17 years of age.

AGN

Allergan

$147.78

1.94 (1.33%)

OSMT

Osmotica Pharmaceuticals

$3.87

-0.02 (-0.51%)

MDWD

MediWound

$5.29

-0.07 (-1.31%)

DF

Dean Foods

$1.68

0.165 (10.89%)

CROX

Crocs

$28.33

-0.86 (-2.95%)

RACE

Ferrari

$132.32

-1.97 (-1.47%)

BUD

AB InBev

$86.70

-0.27 (-0.31%)

EMR

Emerson

$70.16

-0.95 (-1.34%)

LITE

Lumentum

$61.40

-2.36 (-3.70%)

XENT

Intersect ENT

$33.16

-0.58 (-1.72%)

CPRX

Catalyst Pharmaceuticals

$6.11

0.06 (0.99%)

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AGN Allergan
$147.78

1.94 (1.33%)

04/15/19
JEFF
04/15/19
INITIATION
Target $155
JEFF
Hold
Allergan initiated with a Hold at Jefferies
Jefferies analyst David Steinberg started Allergan with a Hold rating and $155 price target. While the company has a dominant aesthetics business and a leading eyecare franchise, it is facing multiple pending competitors to Botox and $3.5B in loss of exclusivities for several key products, Steinberg tells investors in a research note. Further, following a string of pipeline setbacks, Allergan will be even more challenged to deliver its growth objectives over the coming years, says the analyst.
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.
04/24/19
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.
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.
OSMT Osmotica Pharmaceuticals
$3.87

-0.02 (-0.51%)

11/14/18
LEHM
11/14/18
INITIATION
Target $18
LEHM
Overweight
Osmotica Pharmaceuticals initiated with an Overweight at Barclays
Barclays analyst Emily Field started Osmotica Pharmaceuticals with an Overweight rating and $18 price target.
03/28/19
WELS
03/28/19
NO CHANGE
Target $14
WELS
Outperform
Wells Fargo cuts Osmotica target to $14 after 'disappointing' study results
Wells Fargo analyst David Maris lowered his price target for Osmotica Pharmaceuticals to $14 from $17.50 following the company's Q4 results. The stock in morning trading is down 38%, or $2.56, to $4.18. Osmotica used the Q4 results to report "mixed" results from its arbaclofen, or Ontinua, study, Maris tells investors in a research note. Arbaclofen did not demonstrate superiority to placebo as measured by the Clinical Global Impression of Change, but did demonstrate statistical significance in spasticity relative to placebo when using the Total Numeric modified Ashworth Scale, says Maris. He points out that Osmotica continues to advance RVL-1201 for blepharotosis, and remains on track to report results by mid-year. The analyst pushed out the Ontinua launch from 2020 to 2021 and reduced his sales estimates due to approvability risks. His 2023 sales forecast for Ontinua is now $60M, down from $120M previously. Maris keeps an Outperform rating on Osmotica. Though the Q4 earnings report was "disappointing" given the negative arbaclofen results, the company trades at less than seven times estimated 2019 enterprise value to EBITDA with positive cash flow, the analyst tells investors in a research note.
11/12/18
JEFF
11/12/18
INITIATION
Target $21
JEFF
Buy
Osmotica Pharmaceuticals initiated with a Buy at Jefferies
Jefferies analyst David Steinberg started Osmotica Pharmaceuticals with a Buy rating and $21 price target. Utilizing its osmotic drug delivery technology platform, the company is transforming itself from a predominantly generic drug maker with 40 products to one that is comprised of clinically differentiated, longer duration pharmaceuticals, Steinberg tells investors in a research note.
11/12/18
11/12/18
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. Denali Therapeutics (DNLI) initiated with a Buy at Janney Montgomery Scott. 2. PhaseBio (PHAS) initiated with a Buy at Stifel and Citi as well as an Outperform at Cowen. 3. Osmotica Pharmaceuticals (OSMT) initiated with a Buy at Jefferies as well as an Outperform at Wells Fargo and RBC Capital. 4. SI-Bone (SIBN) initiated with an Outperform at JMP Securities, an Overweight at Morgan Stanley, as well as a Buy at Canaccord and BofA/Merrill. 5. Studio City (MSC) initiated with an Underweight at Morgan Stanley. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
MDWD MediWound
$5.29

-0.07 (-1.31%)

03/12/19
RHCO
03/12/19
NO CHANGE
Target $9
RHCO
Buy
MediWound may be near strategic deal, says SunTrust
After MediWound announced that CEO Gal Cohen has decided to step down, SunTrust analyst Bruce Nudell said he believes the fact that Cohen is pursuing another opportunity while retaining his share interest in MediWound, along with the lack of formal search for a successor, is "consistent with the notion that a strategic deal is near in hand." Nudell has a Buy rating and $9 price target on MediWound shares.
03/12/19
WELS
03/12/19
NO CHANGE
Target $11
WELS
Outperform
MediWound CEO change 'occurred from a position of strength,' says Wells Fargo
After speaking to management, Wells Fargo analyst David Maris believes the CEO change at MediWound "appears to have occurred from a position of strength" after the recently announced positive Phase III data for NexoBrid and advancing strategic discussions. The analyst continues to think the company will be able to "unlock sizable value" with a strategic transaction or partnership. Further, Maris expects MediWound "will not miss a step" transitioning to new CEO Sharon Malka. He maintains an Outperform rating on the shares with an $11 price target.
08/08/18
WELS
08/08/18
NO CHANGE
Target $11
WELS
Outperform
MediWound could be sold for 'substantially higher price,' says Wells Fargo
Wells Fargo analyst David Maris noted that MediWound's Chairman said on the company's earnings call that while the board previously thought it would have more clarity by its Q2 report on its previously disclosed consideration of a potential strategic transaction, the company is taking a "comprehensive and measured approach" as it is still in talks with several parties. If MediWound is able to conclude a strategic combination, it would be for "a substantially higher price" and one that contemplates cash flows beyond Maris' current assumptions, he stated. Maris keeps an Outperform rating and $11 price target on MediWound shares.
09/25/18
WELS
09/25/18
NO CHANGE
Target $11
WELS
Outperform
MediWound BARDA contract 'highly value-creating,' says Wells Fargo
Wells Fargo analyst David Maris estimates MediWound's new BARDA contract to develop NexoBrid for the treatment of Sulfur Mustard injuries should be worth approximately $1 per share. The analyst views the deal as an "endorsement of the promise" of NexoBrid and the potential for longer-term government contracts if approved. He currently does not model NexoBrid government sales but believes the size of the mass casualty preparedness market could rival the burn market. Overall, the contract from the U.S. Biomedical Advanced Research and Development Authority is a "highly value-creating deal," Maris tells investors in a research note. He keeps an Outperform rating on MediWound with an $11 price target.
DF Dean Foods
$1.68

0.165 (10.89%)

02/27/19
JPMS
02/27/19
NO CHANGE
JPMS
Underweight
Avoid the 'temptation' to buy Dean Foods on takeout thesis, says JPMorgan
In a post-earnings research note titled "In This Case, It's Okay to Cry over Spilt Milk," JPMorgan analyst Ken Goldman says Dean Foods announced Q4 earnings below consensus, the suspension of its dividend, the suspension of guidance, and a strategic review. The strategic review apparently could include "almost anything under the sun," with management tossing out a variety of options, including a sale, Goldman writes. The analyst recommends "avoiding the temptation" to buy Dean on the thesis it can get taken out for premium. If Dean does happen to find a buyer, which is unlikely, the stock will probably be purchased at a discount to the current price, contends Goldman. He points out that Dean is a "levered company with a fast-deteriorating business and numerous out-of-date production facilities." The analyst believes management throwing out sale as an option feels "like a shot in the dark." Goldman recommends shorting any potential strength today in the shares and keeps an Underweight rating on Dean Foods. The stock in premarket trading is down 13% to $3.97.
02/27/19
STFL
02/27/19
NO CHANGE
Target $5
STFL
Hold
Stifel sees Dean Foods falling after Q4 report despite strategic review
After Dean Foods reported a Q4 loss of (50c), pulled its financial guidance and suspended its dividend, Stifel analyst Christopher Growe said in a flash note that he expects the shares to trade down despite the announcement last night that the company is exploring all options for its business. Ahead of the company's earnings call, Growe maintained a Hold rating and $5 price target on Dean Foods shares, which are down 65c, or 14%, to $3.90 in pre-market trading.
11/08/18
11/08/18
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. Square (SQ) downgraded to Neutral from Positive at Susquehanna analyst James Friedman citing valuation and the lack of a CFO at the company. 2. Landstar System (LSTR) downgraded to Neutral from Buy at Goldman Sachs and to Sector Weight from Overweight at KeyBanc. 3. Dean Foods (DF) downgraded to Hold from Buy at Jefferies with analyst Akshay Jagdale saying he believes the company's cost savings opportunity is significant enough to more than offset secular headwinds. 4. Ctrip (CTRP) downgraded to Neutral from Outperform at Credit Suisse, to Neutral from Buy at Citi, to Underperform from Outperform at CLSA, and to Hold from Buy at China Renaissance. 5. CDK Global (CDK) downgraded to Market Perform from Outperform at Wells Fargo with analyst Timothy Willi saying he believes that CDK faces a variety of headwinds during FY19 that will likely limit upside in the shares despite the discounted valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/08/19
JPMS
03/08/19
UPGRADE
JPMS
Neutral
Dean Foods upgraded to Neutral from Underweight at JPMorgan
CROX Crocs
$28.33

-0.86 (-2.95%)

04/23/19
PIPR
04/23/19
DOWNGRADE
Target $31
PIPR
Neutral
Crocs downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Erinn Murphy downgraded Crocs to Neutral from Overweight with an unchanged price target of $31. The "runway for significant share appreciation becomes more difficult from here," Murphy tells investors in a research note. She believes expectations for mid-single-digit revenue growth in fiscal 2019 and 2020 are reflected in consensus estimates and the stock at this point. Further, the analyst points out that in Piper's spring teen survey, Crocs was the number 19 preferred footwear brand, down from number 17 last year and number 13 in the fall. Murphy sees a balanced risk/reward for Crocs at current share levels.
01/02/19
01/02/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Bausch Health (BHC) upgraded to Overweight from Neutral at Piper Jaffray with analyst David Amsellem saying while he's been "unrelentingly negative" on the company for years, it is time to "turn the page following a closer look at the business." 2. Crocs (CROX) and Shoe Carnival (SCVL) were upgraded to Positive from Neutral at Susquehanna. 3. Stryker (SYK) upgraded to Outperform from In Line at Evercore ISI. 4. CBS (CBS) upgraded to Overweight from Equal Weight at Stephens with analyst Kyle Evans saying he believes investor sentiment is poised to improve on the name in 2019 and that the company can continue to post solid results driven by underlying unit growth and stronger pricing. 5. Sirius XM (SIRI) upgraded to Overweight from Neutral at JPMorgan with analyst Sebastiano Petti saying Sirius XM shares are attractively following the 25% pullback from the 2018 highs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/23/19
04/23/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Hormel Foods (HRL) downgraded to Sell from Neutral at Goldman Sachs and to Underweight from Neutral at JPMorgan. 2. Digital Realty (DLR) downgraded to Hold from Buy at Jefferies with analyst Jonathan Petersen saying market absorption numbers from datacenterHawk suggest a leasing quarter even worse than Q4 of 2018 for the data center real estate investment trusts. 3. PSEG (PEG) downgraded to Neutral from Overweight at JPMorgan with analyst Christopher Turnure saying now that zero emission credits have been formally awarded, the he expects PJM capacity market reform driven-uncertainty to continue near-term or longer if the Federal Energy Regulatory Commission fails to approve a revised methodology soon. He sees limited near-term upside in PSEG shares. 4. Fortis (FTS) downgraded to Market Perform from Outperform at Raymond James. 5. Crocs (CROX) downgraded to Neutral from Overweight at Piper Jaffray with analyst Erinn Murphy saying the "runway for significant share appreciation becomes more difficult from here." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/28/19
MONN
02/28/19
UPGRADE
MONN
Buy
Crocs upgraded to Buy from Neutral at Monness Crespi
RACE Ferrari
$132.32

-1.97 (-1.47%)

04/26/19
04/26/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Starbucks (SBUX) downgraded to Market Perform from Outperform at Wells Fargo with analyst Bonnie Herzog saying she remains optimistic that Starbucks can continue to simultaneously execute on its strategy to drive "strong" same-store-sales in the U.S. and expand in China. However, she thinks the market already "fully appreciates this" and, as such, sees the shares as "fully valued." 2. Axalta Coating (AXTA) downgraded to Neutral from Overweight at JPMorgan with analyst Jeffrey Zekauskas saying risks of continued weakness in the global auto manufacturing market are "appreciable," which may lead to volume and earnings disappointments later in the year for Axalta. 3. Ferrari (RACE) downgraded to Hold from Buy at HSBC. 4. Seagate (STX) downgraded to Neutral from Buy at Edgewater Research. 5. Western Digital (WDC) downgraded to Underperform from Neutral at Baird with analyst Tristan Gerra citing what he calls an "increasing disconnect" between significant year-to-date appreciation in the stock and a continued deterioration in NAND flash fundamentals as highlighted by recent reports from Intel (INTC), Hynix, and Nidec. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/26/19
HSBC
04/26/19
DOWNGRADE
HSBC
Hold
Ferrari downgraded to Hold from Buy at HSBC
01/28/19
FBCO
01/28/19
NO CHANGE
Target $140
FBCO
Outperform
Ferrari price target lowered to $140 from $160 at Credit Suisse
Credit Suisse analyst Michael Binetti lowered his price target for Ferrari to $140 from $160, while reiterating an Outperform rating on the shares. The analyst thinks Ferrari slowed the launch calendar after the abrupt CEO transition in 2018, leaving a lull in the P&L of impactful new innovation for an extended period to drive positive earnings revisions. Binetti expects Ferrari to start 2019 guidance conservatively this week.
01/15/19
BERN
01/15/19
UPGRADE
BERN
Market Perform
Ferrari upgraded to Market Perform from Underperform at Bernstein
BUD AB InBev
$86.70

-0.27 (-0.31%)

04/02/19
LEHM
04/02/19
INITIATION
LEHM
Equal Weight
AB InBev initiated with an Equal Weight at Barclays
Barclays analyst Laurence Whyatt started AB InBev with an Equal Weight rating and EUR 79 price target.
05/03/19
MAXM
05/03/19
INITIATION
Target $21
MAXM
Buy
Craft Brew assumed with a Buy at Maxim
Maxim analyst Anthony Vendetti assumed Craft Brew Alliance (BREW) with a Buy rating and a price target of $21, saying he expects the company's revenue to accelerate in 2019 thanks mostly to the increased marketing for its flagship Kona brand. The analyst also cites Craft Brew's relationship with InBev (BUD) and points to its option to make a qualifying acquisition offer at $24.50 per share by August 23rd.
04/25/19
DESJ
04/25/19
INITIATION
DESJ
Buy
Desjardins initiates HEXO Corp, Canopy Growth, Aurora Cannabis with a Buy
Desjardins analyst John Chu initiated HEXO Corp (HEXO), Canopy Growth (CGC), and Aurora Cannabis (ACB) with a Buy rating and respective price targets of C$14, C$74, and C$16.50 as part of a broad research note, saying the "hype" around legalization of adult-use cannabis in Canada remains strong in spite of "underwhelming" early months of sales. The analyst attributes the challenges to ramp-up, logistical and distribution issues, but expects investors to consider the opportunity as a "global" one. Chu believes that "major" consumer packaged goods companies like Constellation (STZ), InBev (BUD), and Altria (MO), as well as retailers like Walgreens (WBA), CVS (CVS), and Rite Aid (RAD) should "help push cannabis and hemp into the mainstream."
04/05/19
BOFA
04/05/19
UPGRADE
BOFA
Buy
AB InBev upgraded to Neutral from Underperform at BofA/Merrill
BofA/Merrill analyst Fernando Ferreira upgraded AB InBev to Neutral from Underperform and raised its price target to $91 from $68. The analyst thinks leverage concerns will subside, short-term earnings momentum will improve, and the potential IPO of its Asia business could act as a catalyst.
EMR Emerson
$70.16

-0.95 (-1.34%)

02/28/19
JPMS
02/28/19
NO CHANGE
JPMS
JPMorgan's Tusa recommends long Emerson, short Rockwell pair trade
JPMorgan analyst Stephen Tusa recommends an automation pair trade of long Emerson (EMR), short Rockwell Automation (ROK). While fundamentals across the automation industry "remain relatively solid for now," the analyst sees potential for "material divergence" between these names as an opportunity, and he favors Emerson. Following the failed bid for Rockwell, Emerson's plans for share gain within marginal discrete markets should allow it to outperform "here from a low base, potentially at the expense" of Rockwell, Tusa tells investors in a research note.
04/08/19
SBSH
04/08/19
UPGRADE
Target $81
SBSH
Buy
Emerson upgraded to Buy from Neutral at Citi
Citi analyst Andrew Kaplowtiz upgraded Emerson Electric to Buy from Neutral with an $81 price target.
02/15/19
JPMS
02/15/19
NO CHANGE
Target $77
JPMS
Overweight
JPMorgan's Tusa calls Emerson top 'GARP pick' after investor day
JPMorgan analyst Stephen Tusa says Emerson is his top "GARP pick" after its investor day "reinforced the compelling growth opportunities in these best-in-class franchises." Concerns around a weaker macro environment are overblown, Tusa tells investors in a research note. The analysts is scratching his head as to the stock reaction on management's perceived cautious tone. Emerson's pipeline of project orders at Automation Solutions continues to expand beyond expectations, and now stands at $7.6B, up from ~$6B a year ago, Tusa writes. He keeps an Overweight rating on the shares with a $77 price target.
02/06/19
FBCO
02/06/19
NO CHANGE
Target $75
FBCO
Outperform
Emerson price target raised to $75 from $70 at Credit Suisse
Credit Suisse analyst John Walsh raised his price target for Emerson to $75 from $70 saying that despite negative sentiment around upstream O&G CapEx, the company continues to deliver underlying 3-month trailing orders growth in its targeted 5%-10% corridor. The analyst reiterates an Outperform rating on the shares.
LITE Lumentum
$61.40

-2.36 (-3.70%)

04/22/19
JPMS
04/22/19
NO CHANGE
JPMS
JPMorgan a buyer of Ciena and Lumentum into Q1 results, downgrades Sensata
JPMorgan analyst Samik Chatterjee names Ciena (CIEN) and Lumentum (LITE) his top Networking Equipment picks into the Q1 reporting season. The analyst is a buyer of both stocks into the prints. Following the rallies year-to-date, investors might need to be more selective relative to opportunities for further share price upside heading into earnings, Chatterjee tells investors in a pre-earnings research note. He believes the overall capital expenditure environment remains positive and that momentum into 5G investment spend appears to be building, particularly in North America. This is likely provide greater visibility to companies relative to their already stated full-year targets, says Chatterjee. However, with investor optimism around 5G infrastructure investment as well as the positive impact on growth from a potential U.S.-China trade deal, the analyst expects share price performances to be largely muted on the back of Q1 earnings. Nonetheless, he sees upside opportunity in both Ciena and Lumentum. Chatterjee also reinstated coverage of CommScope (COMM) and upgraded the shares to Overweight from Neutral, upgraded Viavi Solutions (VIAV) to Neutral from Underweight, and downgraded Sensata (ST) to Neutral from Overweight. A further multiple re-rating of Sensata shares appears unlikely in an environment of moderating auto production this year, contends the analyst.
05/06/19
NEED
05/06/19
NO CHANGE
Target $70
NEED
Buy
Lumentum, Fabrinet price targets raised at Needham
Needham analyst Alex Henderson raised his price targets on Buy-rated Lumentum (LITE) to $70 from $65 and Fabrinet (FN) to $68 from $62 ahead of their earnings, saying he is "modestly" more positive on the stocks going into the print. For Lumentum, the analyst believes the company can benefit from strong demand and constrained capacity trends for ROADMs along with positive regional deployment activity in China that was also signalled by Inphi (IPHI) and Acacia Communications (ACIA) results. For Fabrinet, Henderson expects a solid guidance for Q2, with strong Telecom business offsetting any potential weakness in Data Comm segment.
04/11/19
UBSW
04/11/19
NO CHANGE
Target $70
UBSW
Buy
Lumentum price target raised to $70 from $53 at UBS
UBS analyst Tejas Venkatesh raised his price target on Lumentum (LITE) to $70 and kept his Buy rating, saying he remains positive on the stock to produce upside to consensus estimates. The analyst cites the company likely maintaining a dominant market share with Apple (AAPL) as its unit count improves in FY20 on another iPhone cycle, leaving the adverse "inventory situation" behind. Venkatesh also anticipates "strong ROADM growth due to Lumentum's technical superiority" and benefits from China correcting its "historical underinvestments."
04/01/19
RILY
04/01/19
NO CHANGE
Target $65
RILY
Buy
Lumentum removed from Alpha Generator list at B. Riley FBR
B. Riley FBR analyst Dave Kang removed Lumentum from his firm's Alpha Generator list but keeps a Buy rating on the shares with a $65 price target. The analyst continues to have a favorable outlook on Lumentum.
XENT Intersect ENT
$33.16

-0.58 (-1.72%)

01/07/19
PIPR
01/07/19
NO CHANGE
Target $35
PIPR
Overweight
Intersect ENT should be bought on any guidance selloff, says Piper Jaffray
Piper Jaffray analyst Matt O'Brien recommends buying shares of Intersect ENT on any weakness following the company's weaker than expected 2019 guidance. The analyst expects the stock to sell off today but thinks Intersect ENT will be a "beat-and-raise story throughout the year." He views the outlook as conservative and keeps an Overweight rating on Intersect ENT with a $35 price target.
05/07/19
NORL
05/07/19
DOWNGRADE
Target $20
NORL
Underperform
Intersect ENT downgraded to Underperform from Market Perform at Northland
Northland analyst Suraj Kalia downgraded Intersect ENT to Underperform from Market Perform after the company cut its FY19 sales guidance and announced an "abrupt CEO change," which he tells investors "telegraphs implicit weakness in the outlook." The analyst, who said he has always had concerns that expectations on new product launches were overtly enthusiastic, cut his price target on Intersect ENT shares to $20 from $28.
05/07/19
05/07/19
DOWNGRADE
Target $29

Market Perform
Intersect ENT downgraded to Market Perform on SINUVA trajectory at SVB Leerink
As previously reported, SVB Leerink analyst Richard Newitter downgraded Intersect ENT to Market Perform from Outperform on a slower projected rev growth trajectory for both PROPEL and SINUVA. The issue continues to be reimbursement frictions that will now involve an even higher degree of sales organization's time/resources devoted to SINUVA versus that which management previously thought it had addressed with additional hiring during the second half of 2018, he notes. Newitter also lowered his price target on the shares to $29 from $41.
05/07/19
LEER
05/07/19
DOWNGRADE
LEER
Market Perform
Intersect ENT downgraded to Market Perform from Outperform at SVB Leerink
CPRX Catalyst Pharmaceuticals
$6.11

0.06 (0.99%)

03/19/19
PIPR
03/19/19
NO CHANGE
Target $7.5
PIPR
Overweight
Catalyst comments point toward strong Firdapse launch, says Piper Jaffray
Shares of Catalyst Pharmaceuticals are trading higher after the company's Q4 earnings call and comments from management that point toward a strong Firdapse launch, Piper Jaffray analyst Joseph Catanzaro tells investors in a research note. Accrual of former EAP patients onto Catalyst Pathways has been quicker than expected and payer interactions appear to be progressing nicely, adds the analyst. He views his $41.0M 2019 sales estimate as "readily achievable" and maintains an Overweight rating on Catalyst Pharmaceuticals with a $7.50 price target.
03/19/19
HCWC
03/19/19
NO CHANGE
HCWC
Catalyst's initial launch of Firdapse 'strong,' says H.C. Wainwright
H.C. Wainwright analyst Andrew Fein reiterated a Buy rating and $9 price target on Catalyst Pharmaceuticals, saying the initial look at the Firdapse commercial launch suggests "healthy momentum" and "strong execution" on the part of the company. The analyst also noted that Firdapse is also being investigated in two Phase 3 trials for the treatment of anti-MuSK antibody positive myasthenia gravis and congenital myasthenic syndromes, with both trials planned to read out in the second half of 2019.
05/06/19
PIPR
05/06/19
NO CHANGE
Target $7.5
PIPR
Overweight
Ruzurgi approval to pressure Catalyst Pharmaceuticals, says Piper Jaffray
Piper Jaffray analyst Joseph Catanzaro kept his Overweight rating and $7.50 price target on Catalyst Pharmaceuticals but warned that the stock could come under pressure after the FDA's "unexpected" approval of Jacobus' amifampridine, or Ruzurgi, for the treatment of pediatric LEMS patients. Shares of Catalyst Pharmaceuticals were down over 41% after hours, and the analyst expressed uncertainty over whether the company's Firdapse would be able to maintain the orphan drug price point set at launch. Catanzaro expects the management of Catalyst Pharmaceuticals to comment on the development.
05/07/19
CANT
05/07/19
NO CHANGE
Target $10
CANT
Overweight
Jacobus approval should not impact Catalyst's Firdapse, says Cantor Fitzgerald
The FDA last night approved private company Jacobus' Ruzurgi for the treatment of Lambert-Eaton myasthenic syndrome in patients six to less than 17 years of age, Cantor Fitzgerald analyst Charles Duncan tells investors in a research note. This is the first drug approved for pediatric LEMS, the analyst points out. Catalyst Pharmaceuticals' slightly different salt form of amifampridine, marketed as Firdapse, was the first drug approved for LEMS, but for adults only, he notes. The analyst does not see the approval of Ruzurgi as having a large impact in Firdapse's market potential. He estimates that the pediatric population consists of less than 5% of the prevalent LEMS population. Duncan reiterates an Overweight rating on Catalyst shares with a $10 price target.

TODAY'S FREE FLY STORIES

SPOT

Spotify

$127.10

-5.06 (-3.83%)

18:27
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05/22
18:27
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18:27
Periodicals
Spotify resets some users' passwords over 'suspicious activity,' TechCrunch says »

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IDXX

Idexx Laboratories

$250.45

1.24 (0.50%)

18:20
05/22/19
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18:20
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18:20
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Idexx Laboratories CEO: We're at the beginning of our runway for growth »

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OMC

Omnicom

$79.79

-0.3 (-0.37%)

18:15
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05/22
18:15
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18:15
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Omnicom CEO sells 60.5K shares of common stock »

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BSX

Boston Scientific

$37.74

0.04 (0.11%)

18:12
05/22/19
05/22
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18:12
Hot Stocks
Boston Scientific initiates trial of WATCHMAN FLX appendage closure platform »

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CTRP

Ctrip

$37.63

-0.24 (-0.63%)

18:03
05/22/19
05/22
18:03
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18:03
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Ctrip reports Q1 gross margin 79% vs. 82% a year ago »

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CTRP

Ctrip

$37.63

-0.24 (-0.63%)

18:02
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18:02
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18:02
Earnings
Breaking Earnings news story on Ctrip »

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CTRP

Ctrip

$37.63

-0.24 (-0.63%)

18:01
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18:01
Earnings
Ctrip reports Q1 adjusted EPS 44c, consensus 24c »

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CE

Celanese

$100.10

-0.18 (-0.18%)

18:01
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18:01
Hot Stocks
Celanese announces acetyls product price increases »

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XRAY

Dentsply Sirona

$54.64

-0.25 (-0.46%)

17:57
05/22/19
05/22
17:57
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17:57
Hot Stocks
Dentsply Sirona CFO Alexos to leave company in connection with relocation »

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  • 22

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SIM

Grupo Simec

$9.23

(0.00%)

17:55
05/22/19
05/22
17:55
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17:55
Hot Stocks
Grupo Simec receives noncompliance notification from NYSE »

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CPRT

Copart

$64.78

-1.12 (-1.70%)

17:51
05/22/19
05/22
17:51
05/22/19
17:51
Earnings
Copart reports Q3 adjusted EPS 66c, consensus 62c »

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  • 23

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NVS

Novartis

$83.94

1.555 (1.89%)

17:51
05/22/19
05/22
17:51
05/22/19
17:51
Periodicals
Novartis CEO sees Zolgensma price 'far lower' than $4M-$5M range, Reuters says »

Novartis CEO Vas…

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  • 23

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PCG

PG&E

$19.00

0.55 (2.98%)

17:45
05/22/19
05/22
17:45
05/22/19
17:45
Periodicals
PG&E to remain in control of bankruptcy until September 29, WSJ reports »

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  • 21

    Jun

OBLN

Obalon Therapeutics

$1.24

0.842 (211.56%)

17:41
05/22/19
05/22
17:41
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17:41
Hot Stocks
Obalon Therapeutics discloses resignation of CEO »

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GVA

Granite Construction

$41.37

-0.09 (-0.22%)

17:39
05/22/19
05/22
17:39
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17:39
Hot Stocks
Granite Construction acquires additional trenchless rehabilitation assets »

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  • 06

    Jun

NVCN

Neovasc

$0.48

-0.0023 (-0.48%)

17:36
05/22/19
05/22
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17:36
Hot Stocks
Neovasc discloses International Journal of Cardiology review of Neovasc Reducer »

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$285.61

-0.89 (-0.31%)

17:36
05/22/19
05/22
17:36
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17:36
Periodicals
Pentagon mulls request to send 5,000 U.S. troops to Middle East, Reuters says »

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SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$285.61

-0.89 (-0.31%)

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POOL

Pool Corp.

$183.36

-0.52 (-0.28%)

17:35
05/22/19
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17:35
Hot Stocks
Pool Corp. Chairman John Stokely sells almost $2M in company shares »

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  • 05

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RTN

Raytheon

$180.57

-2.05 (-1.12%)

17:35
05/22/19
05/22
17:35
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17:35
Hot Stocks
Raytheon awarded $151.47M Navy contract for AIM-9X missile sustainment »

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  • 30

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ESV

Ensco Rowan

$10.01

-0.365 (-3.52%)

17:31
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17:31
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Ensco Rowan says will not pay a regular quarterly cash dividend »

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AMGN

Amgen

$171.29

1.67 (0.98%)

, GILD

Gilead

$66.51

-0.01 (-0.02%)

17:30
05/22/19
05/22
17:30
05/22/19
17:30
Upgrade
Amgen, Gilead, Alexion, Vertex, BioMarin, Biogen, Regeneron rating change  »

Citi assumes coverage of…

AMGN

Amgen

$171.29

1.67 (0.98%)

GILD

Gilead

$66.51

-0.01 (-0.02%)

ALXN

Alexion

$127.47

-1.33 (-1.03%)

VRTX

Vertex

$172.37

3.22 (1.90%)

BMRN

BioMarin

$87.80

0.33 (0.38%)

BIIB

Biogen

$234.98

2.04 (0.88%)

REGN

Regeneron

$320.00

10.19 (3.29%)

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  • 29

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    Jun

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    Jun

BBX

BBX Capital

$4.95

-0.06 (-1.20%)

, BXG

Bluegreen Vacations

$14.91

-0.2 (-1.32%)

17:24
05/22/19
05/22
17:24
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17:24
Hot Stocks
BBX Capital says will not proceed with merger with Bluegreen Vacations »

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BBX

BBX Capital

$4.95

-0.06 (-1.20%)

BXG

Bluegreen Vacations

$14.91

-0.2 (-1.32%)

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  • 18

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  • 19

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RTN

Raytheon

$180.57

-2.05 (-1.12%)

17:21
05/22/19
05/22
17:21
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17:21
Hot Stocks
Raytheon awarded $234.64M Navy contract »

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  • 30

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WEX

Wex

$203.30

-1.56 (-0.76%)

17:20
05/22/19
05/22
17:20
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17:20
Hot Stocks
Wex CEO sells 5K shares of common stock »

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  • 28

    May

  • 05

    Jun

RTLR

Rattler Midstream

$0.00

(0.00%)

17:19
05/22/19
05/22
17:19
05/22/19
17:19
Syndicate
Rattler Midstream 38M share IPO priced at $17.50 »

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