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STRO

Sutro Biopharma

$10.48

(0.00%)

, CELG

Celgene

$95.71

-0.15 (-0.16%)

10:32
05/07/19
05/07
10:32
05/07/19
10:32

Sutro says one program clears IND, Celgene opts out of three others

As previously disclosed, under the 2017 amended license agreement between Sutro Biopharma (STRO) and Celgene (CELG), Celgene was advancing four preclinical collaboration programs, one of which is an antibody-drug conjugate targeting B-cell maturation antigen for the treatment of multiple myeloma. Celgene has worldwide development and commercialization rights with respect to this BCMA antibody-drug conjugate. Sutro Biopharma this morning disclosed that the FDA recently cleared the investigational new drug application for the BCMA ADC. Sutro will continue to be responsible for clinical supply manufacturing and certain development services for the BCMA ADC and is entitled to development and regulatory milestone payments and tiered royalties from Celgene, it added. With respect to the remaining three collaboration programs, Celgene has decided to not retain the option to acquire U.S. clinical development and commercialization rights to a second collaboration program. Celgene is therefore not paying Sutro Biopharma the $12.5M option maintenance fee due on IND clearance for the first collaboration program. Consequently, the U.S. clinical development and commercialization rights to the other three collaboration programs remain owned by Sutro, without any further option to Celgene. For any products resulting from these three programs, Celgene will own ex-U.S. development and commercialization rights and will be obligated to pay Sutro development and regulatory milestone payments and tiered royalties.

STRO

Sutro Biopharma

$10.48

(0.00%)

CELG

Celgene

$95.71

-0.15 (-0.16%)

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STRO Sutro Biopharma
$10.48

(0.00%)

10/22/18
JMPS
10/22/18
INITIATION
Target $28
JMPS
Outperform
Sutro Biopharma initiated with an Outperform at JMP Securities
JMP Securities analyst Konstantinos Aprilakis started Sutro Biopharma with an Outperform rating and $28 price target, stating that he believes the company is poised to grow into an industry leader in the discovery and development of protein therapeutics. Sutro's XpressCF platform is "truly unique and years ahead of the competition," while the company is "about more than just discovery" given its lead asset STRO-001 entered a Phase 1 study in patients with non-Hodgkin lymphoma and multiple myeloma earlier this year, Aprilakis said.
10/22/18
WEDB
10/22/18
INITIATION
Target $20
WEDB
Outperform
Sutro Biopharma initiated with an Outperform at Wedbush
Wedbush analyst David Nierengarten started Sutro Biopharma (STRO) with an Outperform rating and $20 price target. The analyst believes the shares are undervalued based on his view of the value of the company's XpressCF cell-free manufacturing platform. Key advantages of the platform include its ability to expedite drug development due to more efficient and rapid production of proteins, and its ability to incorporate non-natural amino acids to create homogeneous ADC drug products and better-optimized bispecifics and cytokine-based therapeutics, he contends. Nierengarten also notes that Sutro validated the potential breadth of its platform with three collaborations with industry partners, namely Celgene (CELG), Merck (MRK) and EMD Serono, which he expects to generate significant long-term value for the company.
10/22/18
COWN
10/22/18
INITIATION
COWN
Outperform
Sutro Biopharma initiated with an Outperform at Cowen
Cowen analyst Boris Peaker initiated Sutro Biopharma with an Outperform rating without a price target. The analyst notes the company is an early stage company that uses its XpressCF platform to generate optimized biologics. Peaker said the platform is further validated with several partnerships.
04/29/19
HCWC
04/29/19
INITIATION
Target $18
HCWC
Buy
Sutro Biopharma initiated with a Buy at H.C. Wainwright
H.C. Wainwright analyst Debjit Chattopadhyay started Sutro Biopharma with a Buy rating and $18 price target. The company's pipeline is early-stage, but its "expanding depth and breadth of development warrants a closer look," Chattopadhyay tells investors in a research note.
CELG Celgene
$95.71

-0.15 (-0.16%)

04/05/19
CANT
04/05/19
DOWNGRADE
Target $100
CANT
Neutral
Cantor sees Bristol deal closing, downgrades Celgene to Neutral
Cantor Fitzgerald analyst Alethia Young downgraded Celgene (CELG) to Neutral from Overweight with an unchanged price target of $100. The analyst expects the takeover by Bristol-Myers (BMY) to close.
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.
05/03/19
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
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.

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OXY

Occidental Petroleum

$53.49

0.74 (1.40%)

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TIGR

UP Fintech

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-0.14 (-2.43%)

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TJX

TJX

$52.95

-0.08 (-0.15%)

, HD

Home Depot

$190.87

-1.66 (-0.86%)

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AZO

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KSS

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EV

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0.01 (0.88%)

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JCOM

j2 Global

$86.48

-0.23 (-0.27%)

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ATTO

Atento

$3.24

-0.14 (-4.14%)

19:58
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Earnings
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ATTO

Atento

$3.24

-0.14 (-4.14%)

19:57
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Earnings
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ITCB

Itau Corpbanca

$12.95

(0.00%)

19:38
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OCUL

Ocular Therapeutix

$3.36

-0.1 (-2.89%)

19:36
05/20/19
05/20
19:36
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19:36
Recommendations
Ocular Therapeutix analyst commentary at Piper Jaffray »

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YGYI

Youngevity

$6.57

0.13 (2.02%)

, QFIN

360 Finance

$16.46

0.71 (4.51%)

18:55
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$6.57

0.13 (2.02%)

QFIN

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$16.46

0.71 (4.51%)

ARWR

Arrowhead

$18.94

-0.52 (-2.67%)

TRIP

TripAdvisor

$44.93

-0.07 (-0.16%)

ASNA

Ascena Retail

$1.13

-0.125 (-9.96%)

KR

Kroger

$24.04

-0.18 (-0.74%)

SNAP

Snap

$11.19

-0.3 (-2.61%)

NDSN

Nordson

$130.42

-4.8 (-3.55%)

OCUL

Ocular Therapeutix

$3.36

-0.1 (-2.89%)

SWI

SolarWinds

$19.16

0.04 (0.21%)

MRCY

Mercury Systems

$72.85

-0.11 (-0.15%)

VNE

Veoneer

$18.89

0.02 (0.11%)

GH

Guardant Health

$78.29

2.13 (2.80%)

CVNA

Carvana

$67.17

-0.935 (-1.37%)

INSM

Insmed

$28.08

-1.08 (-3.70%)

VAR

Varian Medical

$130.48

-0.26 (-0.20%)

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TOL

Toll Brothers

$37.52

-0.88 (-2.29%)

18:47
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Hot Stocks
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General news
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TTWO

Take-Two

$102.94

-3.82 (-3.58%)

18:44
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AAL

American Airlines

$30.96

-0.8 (-2.52%)

18:40
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Periodicals
American Air asks court to halt alleged mechanics unions' slowdown, Reuters says »

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LWAY

Lifeway Foods

$2.75

0.05 (1.85%)

18:38
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Earnings
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WHLR

Wheeler REIT

$2.25

0.025 (1.13%)

18:31
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Hot Stocks
Wheeler REIT chairman John Sweet to resign »

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WMT

Walmart

$101.54

0.66 (0.65%)

, TGT

Target

$72.10

1.22 (1.72%)

18:03
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WMT

Walmart

$101.54

0.66 (0.65%)

TGT

Target

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BBBY

Bed Bath & Beyond

$14.48

-0.525 (-3.50%)

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QFIN

360 Finance

$16.46

0.71 (4.51%)

18:02
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Earnings
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MRK

Merck

$78.86

0.15 (0.19%)

18:02
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PRIM

Primoris

$20.26

-0.08 (-0.39%)

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BK

BNY Mellon

$45.97

-0.11 (-0.24%)

, LM

Legg Mason

$35.68

0.295 (0.83%)

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BK

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$45.97

-0.11 (-0.24%)

LM

Legg Mason

$35.68

0.295 (0.83%)

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DHR

Danaher

$130.33

-0.81 (-0.62%)

17:44
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Hot Stocks
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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$283.95

-2.03 (-0.71%)

17:43
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05/20
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17:43
Periodicals
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SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$283.95

-2.03 (-0.71%)

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LM

Legg Mason

$35.68

0.295 (0.83%)

17:40
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05/20
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Hot Stocks
Legg Mason names Nelson Peltz, Ed Garden to board of directors »

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XYF

X Financial

$5.42

0.1 (1.88%)

17:34
05/20/19
05/20
17:34
05/20/19
17:34
Earnings
X Financial reports Q1 EPS 24c, consensus 24c »

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