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ABBV

AbbVie

$78.69

-0.27 (-0.34%)

, ABMD

Abiomed

$250.96

-4.58 (-1.79%)

04:55
06/15/19
06/15
04:55
06/15/19
04:55

International League of Dermatological Societies to hold a conference

24th World Congress of Dermatology will be held in Milan, Italy on June 10-15.

ABBV

AbbVie

$78.69

-0.27 (-0.34%)

ABMD

Abiomed

$250.96

-4.58 (-1.79%)

BMY

Bristol-Myers

$47.57

0.25 (0.53%)

CELG

Celgene

$96.49

0.07 (0.07%)

LLY

Eli Lilly

$111.74

-0.06 (-0.05%)

JNJ

Johnson & Johnson

$140.08

-0.63 (-0.45%)

NVS

Novartis

$89.52

-0.07 (-0.08%)

PFE

Pfizer

$42.75

0.24 (0.56%)

PG

Procter & Gamble

$111.20

0.28 (0.25%)

SNY

Sanofi

$42.46

-0.225 (-0.53%)

UL

Unilever; also tag UN

$62.61

-0.07 (-0.11%)

UN

Unilever; also tag UL

$61.30

-0.13 (-0.21%)

INCY

Incyte

$77.76

1.385 (1.81%)

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ABBV AbbVie
$78.69

-0.27 (-0.34%)

05/14/19
LEHM
05/14/19
NO CHANGE
Target $25
LEHM
Overweight
Myovant Sciences selloff overdone after report of relugolix data, says Barclays
Barclays analyst Geoffrey Meacham said he thinks the selloff in shares of Myovant Sciences (MYOV) is overdone after the release of relugolix phase 3 uterine fibroids data. He believes investors are "selling the news" and he still believes relugolix has a comparable profile to AbbVie (ABBV) and Neurocrine's (NBIX) elagolix and will find a place in the market given what he sees as positive data reported this morning, Meacham tells investors. He keeps an Overweight rating and $25 price target on Myovant shares, which are down 26% to $12.67 in early afternoon trading.
05/28/19
GSCO
05/28/19
INITIATION
Target $84
GSCO
Neutral
AbbVie initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Terence Flynn started AbbVie with a Neutral rating and $84 price target. The analyst projects sales from the company's marketed cancer portfolio and new immunology drugs to ultimately generate sufficient revenue to offset Humira erosion. However, he does not expect "significant visibility" on the uptake of the new immunology launches until 2020, which he thinks is likely to keep AbbVie shares range bound.
06/13/19
PIPR
06/13/19
NO CHANGE
Target $90
PIPR
Neutral
AbbVie rheumatology franchise feedback incrementally positive, says Piper
Piper Jaffray analyst Christopher Raymond says he sees "incrementally positive feedback" for AbbVie's rheumatology franchise. A new Rheumatologist survey indicates "strong expectations" for the upadacitinib launch, which has an FDA action date of August 19, Raymond tells investors in a research note. The analyst is "compelled" to raise his upadacitinib numbers ahead of approval. However, he keeps a Neutral rating on AbbVie sahres with a $90 price target saying his broader Humira competitive concerns remain in place.
05/28/19
GSCO
05/28/19
DOWNGRADE
Target $60
GSCO
Sell
Goldman sees negative sales growth for Gilead, downgrades shares to Sell
Goldman Sachs analyst Terence Flynn downgraded Gilead Sciences (GILD) to Sell from Neutral and lowered his price target for the shares to $60 from $70. The analyst expects Gilead's sales growth to decelerate saying the Truvada/Atripla loss of exclusivities in Sept ember 2020 represents a $3B headwind. Further, Biktarvy can only protect about half of the company's $16B HIV franchise from generic competition, Flynn tells investors in a research note. As a result, the analyst models annual revenue growth for Gilead through 2022 as negative 5%, which he notes is among the lowest in his coverage universe. Meanwhile, the stock trades at a slight premium to other stocks such as Bristol-Myers (BMY) and AbbVie (ABBV), says Flynn.
ABMD Abiomed
$250.96

-4.58 (-1.79%)

05/03/19
JEFF
05/03/19
NO CHANGE
Target $330
JEFF
Buy
Jefferies says it's time to own shares of Abiomed
Weakness in Abiomed's fiscal Q4 had been well telegraphed but was still worse than expected, Jefferies analyst Raj Denhoy tells investors in a research note. However, he believes issues with Impella use are being addressed and points out that April saw an uptick from March. The company's fiscal 2020 guidance of 17%-23% "seems doable," adds Denhoy. He lowered his price target for the shares to $330 from $460 and keeps a Buy rating on the name. The analyst believes now is the time to own Abiomed.
05/02/19
PIPR
05/02/19
NO CHANGE
Target $320
PIPR
Overweight
Abiomed should be bought after 'surprising' miss, says Piper Jaffray
Piper Jaffray analyst Matt O'Brien lowered his price target for Abiomed to $320 from $480 following the company's "surprising" Q4 miss and reduced outlook. The analyst, still believes in the company and is a buyer of the stock with an unchanged Overweight rating. Abiomed in early trading is down 7%, or $20.47, to $256.60. The primary cause of the shortfall was weakness in the company's protected PCI business, which was negatively impacted by the FDA's cautionary letter to clinicians on Impella RP, O'Brien tells investors in a research note. The analyst, however, believes the totality of "compelling" clinical data will improve utilization of this patient population going forward. He encourages investors to buy the stock on today's weakness.
05/22/19
PIPR
05/22/19
NO CHANGE
Target $320
PIPR
Overweight
Abiomed 20% selloff this year brings buying opportunity, says Piper Jaffray
Piper Jaffray analyst Matt O'Brien recommends shares of Abiomed with the stock down 20% this year and 30% over the past 12 months. The weakness is due to a variety of factors, including the fiscal Q4 miss and softer fiscal 2020 guidance, a dear doctor letter on Impella RP, proposed reimbursement cuts, and concerns about competition, O'Brien tells investors in a research note. The analyst says he does not worry much about reimbursement changes and that the dear doctor letter concerns should subside given the FDA's update yesterday that Impella RP is safe and effective. O'Brien sees scenarios that get Abiomed to "steady" 20% plus revenue growth for the next seven years. Abiomed is his favorite large cap name and he believes the shares "could offer significant upside from current levels." He keeps an Overweight rating on the name with a $320 price target.
05/03/19
RHCO
05/03/19
NO CHANGE
Target $340
RHCO
Buy
Abiomed price target lowered to $340 from $450 at SunTrust
SunTrust analyst Bruce Nudell lowered his price target on Abiomed to $340 after its Q4 revenue miss and below-consensus initial top-line forecasts for FY20. The analyst maintains his Buy rating however and calls the stock a "unique investment opportunity" with a bullish view about the prospects for its "temporary mechanical circulatory support" system.
BMY Bristol-Myers
$47.57

0.25 (0.53%)

05/30/19
GUGG
05/30/19
NO CHANGE
GUGG
Buy
Array BioPharma could be seen as target after 'de-risking' data, says Guggenheim
Guggenheim analyst Michael Schmidt said Array Biopharma (ARRY) may be perceived by investors as a theoretical acquisition target following the disclosure of Phase 3 interim results of Braftovi/Mektovi in BRAF+ colorectal cancer, which he views as positive and a "de-risking event." 67% of announced acquisitions in oncology with a comparable market cap to Array had what he would consider major pipeline de-risking events in the 6 months prior to their deal announcements, Schmidt tells investors. Merck (MRK) and Pfizer (PFE) "seem to have most bandwidth for a deal," said Schmidt, who added that those two along with Bristol-Myers (BMY), AstraZeneca (AZN) and Roche (RHHBY) scored highest as possible large cap theoretical acquirers of Array in his analysis. Schmidt raised his price target on Array Biopharma shares to $38 from $37, though his analysis suggests a potential $40-$50 acquisition price if the company were to be bought.
05/28/19
GSCO
05/28/19
INITIATION
Target $54
GSCO
Buy
Bristol-Myers initiated with a Buy at Goldman Sachs
Goldman Sachs analyst Terence Flynn started Bristol-Myers Squibb with a Buy rating and $54 price target. Bristol-Myers is trading at a "significant discount to the group," Flynn tells investors in a research note. The analyst says his call is based on valuation, and he sees potential for multiple expansion whether or not the Celgene (CELG) acquisition closes.
05/20/19
05/20/19
DOWNGRADE

Hold
Bristol-Myers downgraded to Hold from Buy at Argus
As previously reported, Argus analyst David Toung downgraded Bristol-Myers (BMY) to Hold from Buy, saying he has "serious concerns" about the company's growth prospects after its announced acquisition of Celgene (CELG). The analyst contends that Celgene's pipeline is not sufficient to offset the expected decline in revenues from its Revlimid, which will lose exclusivity in 2026. Toung adds that Bristol-Myers' "patent cliff" is also notable with loss of exclusivity expected for Opdivo in 2028, Eliquis in 2026, and Orencia in 2021. While the stock trades at 10.5-times forward earnings multiple - a discount to the 12-times peer group average - the analyst believes the valuation is appropriate.
CELG Celgene
$96.49

0.07 (0.07%)

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.
05/07/19
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.
LLY Eli Lilly
$111.74

-0.06 (-0.05%)

06/11/19
JPMS
06/11/19
NO CHANGE
JPMS
Overweight
Eli Lilly Rewind data missed 'fairly high' expectations, says JPMorgan
JPMorgan analyst Chris Schott is not surprised by the weakness yesterday in shares of Eli Lilly as he believes the Rewind data came in below "fairly high" expectations. However, the analyst ultimately sees the data confirming a cardiovascular benefit for Trulicity and supporting "continued strong Trulicity/GLP-1 uptake." Further, Schott sees the tirzepatide data at the American Diabetes Association conference as continuing to highlight a potentially best in class efficacy profile for the product. Lilly remains the analyst's top pick in his pharma coverage.
05/30/19
WELS
05/30/19
NO CHANGE
WELS
U.S. generic data continues to show challenging environment, says Wells Fargo
Wells Fargo analyst David Maris says that according to April IQVIA data, Teva (TEVA) U.S. generic sales were down 19% in April year over year, while brands sales were down 15%. Additionally, according to IQVIA data, Teva recently ceded its second place U.S. prescription market share place to competitor Eli Lilly (LLY) for its migraine drug, Ajovy, he points out. For Mylan (MYL), Maris says the monthly trends also paint a negative picture, with IQVIA U.S. generic sales in April down 36%. Nonetheless, the analyst believes Teva and Mylan shares seem to be reflecting an "aggressively negative outlook" given the current earnings multiples, and setting aside the worst-case outcomes in the opioid and price fixing cases, these may be at or nearing attractive valuations. However, for now, he remains on the sidelines, and within generics, continues to recommend Outperform-rated Amphastar (AMPH).
06/11/19
LEHM
06/11/19
UPGRADE
LEHM
Equal Weight
Novo Nordisk upgraded to Equal Weight from Underweight at Barclays
Barclays analyst Emmanuel Papadakis upgraded Novo Nordisk (NVO) to Equal Weight from Underweight and raised his price target for the shares to 325 kronor from 275 kronor. The analyst views competitor updates at the American Diabetes Association conference, specifically from Eli Lilly (LLY), as "underwhelming."
05/28/19
GSCO
05/28/19
INITIATION
Target $135
GSCO
Buy
Eli Lilly initiated with a Buy at Goldman Sachs
Goldman Sachs analyst Terence Flynn started Eli Lilly with a Buy rating and $135 price target. The company has new product cycles in four large and growing therapeutic categories - diabetes, cancer, pain and immunology, Flynn tells investors in a research note. He believes investors are underappreciating Eli Lilly's longer-term growth potential in diabetes.
JNJ Johnson & Johnson
$140.08

-0.63 (-0.45%)

05/30/19
WELS
05/30/19
NO CHANGE
WELS
Outperform
Johnson & Johnson concerns over opioid case seem 'overblown,' says Wells Fargo
As the first state opioid trial begins in Oklahoma, Wells Fargo analyst Larry Biegelsen continues to believe that litigation will be manageable for Johnson & Johnson given its size and resources. The analyst notes that it appears the company's pain products - Duragesic patch and Nucynta/ER - accounted for less than 1% of the Oklahoma Medicaid opioid prescriptions from 1996-2017, while the company's slides also show data that fentanyl and tapentadol have lower abuse rates and diversion rates versus oxycodone and hydrocodone. Overall, Biegelsen believes concerns over the Oklahoma opioid case "may be overblown." The analyst has an Outperform rating on the shares.
05/28/19
GSCO
05/28/19
INITIATION
Target $163
GSCO
Buy
Johnson & Johnson initiated with a Buy at Goldman Sachs
Goldman Sachs analyst Terence Flynn started Johnson & Johnson with a Buy rating and $163 price target. J&J's diversified portfolio is a potential strength as it results in the company having the lowest exposure to Medicare/Medicaid within the group, Flynn tells investors in a research note. As a result, he thinks the stock will be less impacted by potential drug pricing headlines/policy proposals ahead of the 2020 presidential election.
05/22/19
WELS
05/22/19
NO CHANGE
WELS
Wells Fargo says start of opioid trial won't be positive for Teva shares
Wells Fargo analyst David Maris noted that the nation's first major opioid case, brought against Teva (TEVA) and Johnson & Johnson (JNJ) in Oklahoma, will begin on May 28 and that the entire trial will be webcast. He thinks that the trial start and the opening webcast statements "will not be positive for Teva shares," adding that he suspects the outcome of this suit will be extrapolated to the Multi-District Litigation coming this fall. Maris keeps a Market Perform rating on Teva shares.
05/30/19
COWN
05/30/19
NO CHANGE
Target $155
COWN
Outperform
Johnson & Johnson weakness may be overdone, says Cowen
Cowen analyst Joshua Jennings noted the State of Oklahoma is claiming Janssen Pharmaceuticals helped fuel the US opioid crisis which then caused volatility in Johnson & Johnson (JNJ) shares. While JNJ maintains its involvement was limited, the analyst says it is challenging to estimate the potential liability. His analysis however suggests, the stock's pullback is overdone. Jennings maintained his Outperform rating and $155 price target on Johnson & Johnson shares.
NVS Novartis
$89.52

-0.07 (-0.08%)

06/03/19
06/03/19
DOWNGRADE

Perform
Aduro Biotech downgraded to Perform on lack of catalysts at Oppenheimer
As previously reported, Oppenheimer analyst Mark Breidenbach downgraded Aduro Biotech (ADRO) to Perform from Outperform given the company's lack of near-term catalysts. The analyst notes that Aduro's partner Novartis (NVS) presented initial clinical results from an ongoing Phase 1b trial of ADU-S100 in combination with spartalizumab in advanced tumors at ASCO. Given the pretreatment history of these patients, he cannot state with confidence that the responses observed were dependent on ADUS100, and the trial data suggests dosing has not yet been fully optimized. As Novartis continues to evaluate the STING agonist, Breidenbach anticipates an extended development timeline.
06/14/19
PIPR
06/14/19
NO CHANGE
Target $120
PIPR
Neutral
Price tag of Bluebird's Zynteglo 'hard to justify,' says Piper Jaffray
The $1.8M price tag of Bluebird Bio's Zynteglo is "hard to justify" given the $2.1M comp of Novartis' (NVS) Zolgensma, which treats children with a certain outcome of death, as opposed to a population where the majority of patients are adequately maintained on transfusions, Piper Jaffray analyst Tyler Van Buren tells investors in a research note. In Zynteglo clinical trials, only 60 beta-thal patients have been enrolled and 16 sickle cell patients have ever been infused, the analyst points out. Yet, says Van Buren, the Street is modeling that Bluebird transplants thousands of patients with Zynteglo. He continues to believe uptake of the gene therapy will be challenging and keeps a Neutral rating on Bluebird Bio with a $120 price target.
05/24/19
FBCO
05/24/19
NO CHANGE
FBCO
Underperform
Zolgensma label breadth on higher end of expectations, says Credit Suisse
Credit Suisse analyst Evan Seigerman noted that the FDA announced approval for Novartis' (NVS) Zolgensma for the treatment of Spinal Muscular Atrophy, or SMA, in patients with bi-allelic mutations in the SMN1 gene under 2 years of age. The current wholesale acquisition cost for Biogen's (BIIB) Spinraza equates to a per-year treatment cost of $500,000 for the first year loading phase and $250,000-$375,000 per year for maintenance thereafter, which compares to a WAC of $2.125M for Zolgensma, which is administered just once, noted Seigerman. While investors generally expected Zolgensma would be approved, the breadth of the label was on the higher end of expectations, Seigerman tells investors. The pricing and label support his below consensus view of Spinraza, as he continues to expect that Zolgensma will become the preferred first option for infant-onset type 1 SMA, said the analyst, who reiterates his $198 price target and Underperform rating on Biogen shares.
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.
PFE Pfizer
$42.75

0.24 (0.56%)

06/04/19
06/04/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Uber (UBER) was initiated with an Overweight at Barclays and Morgan Stanley, an Outperform at Oppenheimer, Cowen, William Blair, and JMP Securities, a Buy at Canaccord, SunTrust, Deutsche Bank, Loop Capital, Mizuho, BTIG, Needham, and BofA/Merrill, and a Neutral at Citi. 2. Lyft (LYFT) was initiated with a Buy at BTIG, SunTrust, and Citi, a Hold at Loop Capital, and an Equal Weight at Barclays. 3. Alibaba (BABA), JD.com (JD), and Twitter (TWTR) were initiated with a Buy at Loop Capital, while Alphabet (GOOG, GOOGL) was initiated with a Hold. 4. Pfizer (PFE) was resumed with an Overweight at Morgan Stanley. 5. Neon Therapeutics (NTGN) was initiated with a Buy at Mizuho. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/04/19
MSCO
06/04/19
INITIATION
Target $48
MSCO
Overweight
Pfizer resumed with an Overweight at Morgan Stanley
Morgan Stanley analyst David Risinger resumed coverage of Pfizer with an Overweight rating and $48 price target, stating that he sees Ibrance and pipeline products driving accelerating growth starting next year. Risinger estimates Pfizer will see 3-yr revenue CAGR of 6% from FY20-23 and EPS growth of 11% over the same period, he tells investors.
06/14/19
MAXM
06/14/19
INITIATION
Target $6
MAXM
Buy
Achieve Life Sciences initiated with a Buy at Maxim
Maxim analyst Jason McCarthy initiated Achieve Life Sciences (ACHV) with a Buy rating and a price target of $6, citing the company's development of a "de-risked" smoking cessation aid cytisinicline. The analyst notes that cytisinicline has been in the Eastern European market since the 1970's but has also recently gained "proof of concept" data with a positive phase 2b study of 54% abstinence following 3mg daily intake vs. 16% for placebo. McCarthy adds that Pfizer's (PFE) competing Chantix generated $838M in revenue in FY18 but covered only about 3% of the U.S. smoking population.
PG Procter & Gamble
$111.20

0.28 (0.25%)

04/24/19
LEHM
04/24/19
UPGRADE
Target $112
LEHM
Overweight
Procter & Gamble upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Lauren Lieberman upgraded Procter & Gamble to Overweight from Equal Weight and raised her price target for the shares to $112 from $94.
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.
04/24/19
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.
04/24/19
LEHM
04/24/19
UPGRADE
Target $112
LEHM
Overweight
Barclays upgrades Procter & Gamble to Overweight, boosts target to $112
Barclays analyst Lauren Lieberman upgraded Procter & Gamble to Overweight from Equal Weight and raised her price target for the shares to $112 from $94. 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, Lieberman tells investors in a research note. The analyst, however, does not think it is. Unlike in past years when Procter & Gamble lost share in a growing market environment, the company is finally at a point where it is driving category growth and gaining share on a global basis, says the analyst. She believes P&G can both step up reinvestment and deliver high-single digit operating profit growth in fiscal 2020.
SNY Sanofi
$42.46

-0.225 (-0.53%)

05/08/19
BMOC
05/08/19
NO CHANGE
Target $375
BMOC
Market Perform
Regeneron price target lowered to $375 from $412 at BMO Capital
BMO Capital analyst Matthew Luchini lowered his price target on Regeneron (REGN) to $375 after its "uninspiring" Q1 driven by higher R&D costs and lower collaboration revenue with Sanofi (SNY). The analyst notes that while the company's Dupixent is "showing progress" and Eylea's 8% revenue growth is a positive, he is also concerned with higher discounting for the latter along with the potential for a more competitive vascular endothelial growth factor, or VEGF, landscape. Luchini keeps his Market Perform rating on Regeneron.
02/26/19
JEFF
02/26/19
NO CHANGE
JEFF
The Medicines Co. may have only PCSK9 not infringing Amgen, says Jefferies
Following yesterday's patent win over Sanofi (SNY) and Regeneron (REGN), Amgen (AMGN) now possesses broad patents which will be difficult for most competitors to circumvent, Jefferies analyst Biren Amin tells investors in a research note. The Medicines Co.'s (MDCO) inclisiran, which falls outside of the claims as a purely RNA-directed agent, could be the only PCSK9 mechanism which does not infringe Amgen's Repatha, Amin contends. He believes that should Sanofi and Regeneron's Praluent be hit with a permanent injunction, inclisiran is "well positioned to carve out market share in a growing PCSK9 class."
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).
UL Unilever; also tag UN
$62.61

-0.07 (-0.11%)

05/03/19
FBCO
05/03/19
UPGRADE
FBCO
Outperform
Unilever upgraded to Outperform from Neutral at Credit Suisse
02/27/19
02/27/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Home Depot (HD) downgraded to Hold from Buy at DZ Bank and to Market Perform from Outperform at Telsey Advisory. 2. Chubb (CB) downgraded to Underperform from Neutral at Credit Suisse with analyst Michael Zaremski saying he thinks the assumed catastrophe load embedded within consensus EPS forecasts is materially too low/optimistic, and as he has less confidence that the company will be able to organically grow policy counts in its peer-leading US high-net-worth personal home/auto businesses due to heightened competition from new entrants, one of whom is led by a spate of former Chubb executives. The analyst also lowered his price target on the shares to $131 from $141. 3. Heska (HSKA) downgraded to Hold from Buy at Benchmark wth analyst Bruce Jackson saying he reduced his estimates following the company's Q4 miss and "disappointing" 2019 guidance. 4. WW (WTW) downgraded to Neutral from Buy at DA Davidson, to Hold from Buy at SunTrust and Craig-Hallum, to Sector Weight from Overweight at KeyBanc, and to Perform from Outperform at Oppenheimer. 5. Unilever (UN, UL) downgraded to Neutral from Outperform at Exane BNP Paribas. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/09/19
LEHM
04/09/19
INITIATION
LEHM
Underweight
Unilever initiated with an Underweight at Barclays
04/25/19
DZBN
04/25/19
DOWNGRADE
DZBN
Hold
Unilever downgraded to Hold from Buy at DZ Bank
UN Unilever; also tag UL
$61.30

-0.13 (-0.21%)

INCY Incyte
$77.76

1.385 (1.81%)

05/15/19
PIPR
05/15/19
NO CHANGE
Target $95
PIPR
Overweight
Incyte price target raised to $95 from $85 at Piper Jaffray
Piper Jaffray analyst Tyler Van Buren raised his price target for Incyte to $95 from $85 and reiterates an Overweight rating on the shares. The analyst models a U.S. atopic dermatitis and vitiligo launch in 2021 and 2023, respectively, with combined global sales surpassing $1B by the late 2020s. Incyte is "fully capable" of launching topical Jakafi in these indications with a specialty sales force of a couple hundred people, Van Buren tells investors in a research note. Further, the analyst notes that a key opinion leader Piper hosted was "very bullish" on topical Jakafi. The doctor believes that the efficacy of topical Jakafi exceeds that of the currently available non-steroidals, says Van Buren.
05/03/19
LEHM
05/03/19
DOWNGRADE
Target $82
LEHM
Equal Weight
Incyte downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Geoffrey Meacham downgraded Incyte to Equal Weight from Overweight and lowered his price target for the shares to $82 from $90. With the stock up 27% year-to-date, the analyst does not see enough upside optionality from the company's graft-versus-host disease opportunity or its early-stage pipeline.
05/21/19
05/21/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Uber (UBER) initiated with an Equal Weight at Consumer Edge and a Neutral at Susquehanna. 2. Incyte (INCY) initiated with a Neutral at Credit Suisse. 3. Hillenbrand (HI) initiated with a Neutral at DA Davidson. 4. Target Hospitality (TH) initiated with a Buy at Deutsche Bank. 5. Jack in the Box (JACK) reinstated with an Equal Weight 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.
05/20/19
FBCO
05/20/19
INITIATION
Target $75
FBCO
Neutral
Incyte initiated with a Neutral at Credit Suisse
Credit Suisse analyst Evan Seigerman started Incyte with a Neutral rating and $75 price target. The analyst wants to see more clinical evidence and trial execution in the company's its pipeline following last year's failure of epacadostat before coming more positive on the stock.

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17:56
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FedEx sees buyback level significantly lower in FY20 »

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17:51
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FedEx says has made no pricing changes »

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FedEx says international commercial team still poised for growth »

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FedEx says global trade picture 'less than ideal' »

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FedEx calls FY20 a 'transition year' »

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FedEx

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17:37
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FedEx says intends to substantially grow e-commerce business »

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CNX Resources director Bernard Lanigan purchases 36,200 shares of company stock »

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CVS Health analyst commentary at Tigress Financial »

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Fly Intel: Wall Street's top stories for Tuesday »

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Sprint

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Dish

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Lennar

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FedEx

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UPS

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Facebook

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Pyxus

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AITB

AIT Therapeutics

$5.33

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17:05
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AIT Therapeutics plans to file PMA submission with FDA for PPHN with AirNOvent »

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MU

Micron

$32.71

-0.47 (-1.42%)

17:03
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17:03
Earnings
Micron sees Q4 EPS 45c +/- 7c, consensus 78c »

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AITB

AIT Therapeutics

$5.33

0.06 (1.14%)

17:00
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17:00
Earnings
AIT Therapeutics reports Q4 EPS (49c), consensus 28c »

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Micron

$32.71

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16:48
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Hot Stocks
Micron says it can resume shipping a certain subset of products to Huawei »

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AVAV

AeroVironment

$61.41

-0.52 (-0.84%)

16:42
06/25/19
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Hot Stocks
AeroVironment down 9.5% to $55.50 after Q4 results, FY20 guidance »

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