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RGNX

Regenxbio

$43.60

1.11 (2.61%)

, NVS

Novartis

$87.13

2.67 (3.16%)

12:53
05/24/19
05/24
12:53
05/24/19
12:53

Regenxbio up 6% after Novartis receives FDA approval for Zolgensma

Regenxbio (RGNX) will receive royalties from Novartis (NVS) for Zolgensma, which was just approved by the FDA for the treatment of pediatric patients less than 2 years of age with spinal muscular atrophy, or SMA, with bi-allelic mutations in the survival motor neuron 1 gene. Following the announcement of the FDA approval, Regenxbio shares are up $2.55, or 6%, to $45.03, while Novartis shares trading in New York are up $3.10, or 3.7%, to $87.54.

RGNX

Regenxbio

$43.60

1.11 (2.61%)

NVS

Novartis

$87.13

2.67 (3.16%)

  • 31

    May

  • 31

    May

RGNX Regenxbio
$43.60

1.11 (2.61%)

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.
02/25/19
02/25/19
UPGRADE
Target $79

Outperform
Regenxbio upgraded to Outperform ahead of catalysts at Evercore ISI
As previously reported, Evercore ISI analyst Josh Schimmer upgraded Regenxbio (RGNX) to Outperform from In Line, with a $79 price target, ahead of some important catalysts this year. While not without risk and important unanswered question, the analyst sees optionality that skews more to the upside. Further, Schimmer believes the Wall Street Journal article suggesting Roche (RHHBY) may bid for Spark Therapeutics (ONCE) will likely lift all gene therapy company shares, including Regenxbio.
02/25/19
EVER
02/25/19
UPGRADE
EVER
Outperform
Regenxbio upgraded to Outperform from In Line at Evercore ISI
02/05/19
02/05/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Covanta (CVA) upgraded to Buy from Neutral at Goldman Sachs with analyst Brian Lee saying he expects near-term U.K. project pipeline catalysts to highlight the company's medium-to-long term growth potential. 2. Booking Holdings (BKNG) upgraded to Buy from Hold at Deutsche Bank with analyst Lloyd Walmsley saying Booking's room night growth can accelerate in 2019 as the company "leans back into marketing channels," and this can drive multiple expansion. 3. Regenxbio (RGNX) upgraded to Strong Buy from Outperform at Raymond James with analyst Reni Benjamin saying his recent talks with management gave him added information on RGX-314 in patients with wet age-related macular degeneration and an update on the company's other gene therapy programs. 4. Legg Mason (LM) upgraded to Buy from Neutral at Citi. 5. Nine Energy Services (NINE) upgraded to Buy from Hold at Tudor Pickering. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
NVS Novartis
$87.13

2.67 (3.16%)

05/20/19
FBCO
05/20/19
INITIATION
Target $336
FBCO
Neutral
Regeneron initiated with a Neutral at Credit Suisse
Credit Suisse analyst Evan Seigerman started Regeneron Pharmaceuticals (REGN) with a Neutral rating and $336 price target. The analyst is concerned that Eylea could face "increasing headwinds" with the upcoming launch of Novartis' (NVS) brolucizumab. Further, he believes consensus estimates for the Sanofi (SNY) collaboration may be too high.
05/20/19
RBCM
05/20/19
NO CHANGE
RBCM
RBC says posting hints at Zolgensma label potentially positive for PTC, Biogen
RBC Capital analyst Brian Abrahams noted a new posting on ClinicalTrials.gov that he said "looks like" an expanded access program for Zolgensma that he believes could possibly offer some hints as to the potential label under discussion with the FDA. The most interesting parts are the inclusion criteria, which he thinks could "represent a middle ground" in terms of the breadth of label Novartis (NVS) could obtain for the drug. If the posting is predictive of Zolgensma's initial label, he said he would see it as an incremental positive for Biogen (BIIB), as it would potentially reduce the worst-case scenario of Zolgensma being approved with no age or weight restrictions. It would also be an incremental positive for PTC Therapeutics (PTCT), which Abrahams noted is looking to enter the space.
05/17/19
FBCO
05/17/19
NO CHANGE
Target $68
FBCO
Outperform
Alcon off to 'solid start' post-Novartis spin, says Credit Suisse
Credit Suisse analyst Matt Miksic reiterated an Outperform rating on Alcon (ALC) and raised his price target to $68 from $66 following the company's quarterly results, saying Alcon is off to a "solid start" following the spinoff from Novartis (NVS), and says he is incrementally more bullish on the company's revenue and growth drivers.
05/13/19
WELS
05/13/19
NO CHANGE
WELS
Lawsuit against Teva, others to hit generic drug stocks, says Wells Fargo
Wells Fargo analyst David Maris believes the lawsuit by 44 states against 20 generic drugmakers will weigh on generic drug stocks this week and remain an "overhang issue for some time." Actual penalties and damages are impossible to calculate, but could be material, Maris tells investors in a research note. The analyst spoke to the Connecticut attorney general's office this morning and learned they are preparing for trial in these cases. Language the attorney general has used, such as "unprecedented" and his desire to clawback all gains from collusion, should be indicative of the states' intent, Maris writes. He believes that for a sector that is generally highly levered, and with some companies named already facing an overhang from opioid litigation like Teva (TEVA), this is "especially unwelcome news."

TODAY'S FREE FLY STORIES

BAC

Bank of America

$27.93

-0.1 (-0.36%)

16:35
06/17/19
06/17
16:35
06/17/19
16:35
Upgrade
Bank of America rating change  »

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CYAD

Celyad

$13.50

-5.28 (-28.12%)

16:35
06/17/19
06/17
16:35
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16:35
Hot Stocks
Celyad presents clinical update for CYAD-01 trials »

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CINR

Ciner Resources

$18.87

-0.28 (-1.46%)

16:35
06/17/19
06/17
16:35
06/17/19
16:35
Hot Stocks
Ciner Resource Partners CEO Kirk Milling resigns »

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HBAYF

Hudson's Bay

$0.00

(0.00%)

16:34
06/17/19
06/17
16:34
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16:34
Hot Stocks
Hudson's Bay CFO to take medical leave of absence »

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ARRY

Array BioPharma

$46.42

16.83 (56.88%)

16:34
06/17/19
06/17
16:34
06/17/19
16:34
Recommendations
Array BioPharma analyst commentary  »

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VNTR

Venator Materials

$4.93

-0.165 (-3.24%)

16:33
06/17/19
06/17
16:33
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16:33
Hot Stocks
Venator Materials responds to Tronox answer, counterclaims »

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MGI

MoneyGram

$1.44

-0.06 (-4.00%)

16:32
06/17/19
06/17
16:32
06/17/19
16:32
Hot Stocks
MoneyGram enters strategic partnership with Ripple »

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  • 27

    Jun

CAAP

Corporacion America Airport

$7.97

0.24 (3.10%)

16:32
06/17/19
06/17
16:32
06/17/19
16:32
Hot Stocks
Corporacion America Airport reports May traffic up 3.3% y/y »

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SNV

Synovus

$32.71

-0.3 (-0.91%)

16:32
06/17/19
06/17
16:32
06/17/19
16:32
Hot Stocks
Synovus increases share repurchase authorization to $725M »

Synovus announced that…

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  • 18

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HCHC

HC2 Holdings

$2.51

0.06 (2.45%)

16:31
06/17/19
06/17
16:31
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16:31
Hot Stocks
HC2 Holdings company American Natural Gas acquires ampCNG for $41M »

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16:30
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06/17
16:30
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16:30
Options
Preliminary option volume of 14.6M today »

Preliminary option volume…

SRNE

Sorrento Therapeutics

$3.63

0.49 (15.61%)

16:30
06/17/19
06/17
16:30
06/17/19
16:30
Syndicate
Breaking Syndicate news story on Sorrento Therapeutics »

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16:30
06/17/19
06/17
16:30
06/17/19
16:30
General news
Treasury capital data showed inflows of $46.9 B in long term U.S. assets in April »

Treasury capital data…

ASLN

Aslan Pharmaceuticals

$3.32

-0.23 (-6.48%)

16:27
06/17/19
06/17
16:27
06/17/19
16:27
Syndicate
Aslan Pharmaceuticals files to sell $17.34M of ADSs »

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SQ

Square

$72.22

0.65 (0.91%)

16:25
06/17/19
06/17
16:25
06/17/19
16:25
Hot Stocks
Square dismisses KPMG as auditor, engages Ernst & Young »

Square disclosed in a…

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  • 18

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  • 01

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SNDK

Bought by WDC

$0.00

(0.00%)

, WDC

Western Digital

$36.26

-0.07 (-0.19%)

16:22
06/17/19
06/17
16:22
06/17/19
16:22
Hot Stocks
Nvidia names Donald Robertson as Chief Accounting Officer »

Nvidia (NVDA) announced…

SNDK

Bought by WDC

$0.00

(0.00%)

WDC

Western Digital

$36.26

-0.07 (-0.19%)

NVDA

Nvidia

$144.98

0.39 (0.27%)

03/08/13
Wedge Partners
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03/06/13
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  • 09

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CINR

Ciner Resources

$18.87

-0.28 (-1.46%)

16:22
06/17/19
06/17
16:22
06/17/19
16:22
Hot Stocks
Ciner Resources CEO Kirk Milling to resign »

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ACMR

ACM Research

$16.68

-0.57 (-3.30%)

16:22
06/17/19
06/17
16:22
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16:22
Hot Stocks
ACM Research subsidiary executes agreements to prepare for STAR Market listing »

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  • 09

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LTXB

LegacyTexas Financial

$38.91

0.69 (1.81%)

16:22
06/17/19
06/17
16:22
06/17/19
16:22
Downgrade
LegacyTexas Financial rating change  »

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  • 17

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SQ

Square

$72.22

0.65 (0.91%)

16:21
06/17/19
06/17
16:21
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16:21
Hot Stocks
Breaking Hot Stocks news story on Square »

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  • 18

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PFE

Pfizer

$42.87

0.12 (0.28%)

, ARRY

Array BioPharma

$46.42

16.83 (56.88%)

16:21
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06/17
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On The Fly
Fly Intel: Wall Street's top stories for Monday »

Stocks drifted higher for…

PFE

Pfizer

$42.87

0.12 (0.28%)

ARRY

Array BioPharma

$46.42

16.83 (56.88%)

BID

Sotheby's

$56.13

20.735 (58.59%)

CJ

C&J Energy Services

$12.88

2.15 (20.05%)

FRAC

Keane Group

$7.49

0.495 (7.08%)

GM

General Motors

$36.13

0.47 (1.32%)

BA

Boeing

$354.90

7.71 (2.22%)

ARQL

ArQule

$9.56

1.39 (17.01%)

PAYS

Paysign

$11.32

-1.38 (-10.87%)

AHT

Ashford Hospitality

$3.50

-0.15 (-4.11%)

03/08/13
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  • 17

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  • 09

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  • 28

    Aug

  • 16

    Sep

VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
06/17/19
06/17
16:20
06/17/19
16:20
Options
Closing CBOE SPX and VIX Index summary for June 17th »

The CBOE Volatility Index…

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EQT

EQT Corporation

$15.85

0.05 (0.32%)

16:19
06/17/19
06/17
16:19
06/17/19
16:19
Hot Stocks
EQT Corporation sees Q2 sales volumes 'at high end of guidance range' »

EQT Corporation provided…

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  • 10

    Jul

EIGR

Eiger BioPharmaceuticals

$10.49

0.35 (3.45%)

16:18
06/17/19
06/17
16:18
06/17/19
16:18
Hot Stocks
Eiger BioPharmaceuticals: Breakthrough Therapy Designation granted for avexitide »

Eiger BioPharmaceuticals…

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PLT

Poly

$43.05

-1.61 (-3.61%)

16:17
06/17/19
06/17
16:17
06/17/19
16:17
Conference/Events
Poly participates in an investor webinar with Northland Capital Markets »

Northland Capital Markets…

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  • 18

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