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AMGN

Amgen

$176.23

-0.6 (-0.34%)

, MRK

Merck

$82.62

0.25 (0.30%)

14:48
06/14/19
06/14
14:48
06/14/19
14:48

Amgen, others sue to prevent rule over televising drug price in commercials

Amgen (AMGN), along with Merck (MRK), Eli Lilly (LLY), and the Association of National Advertisers, filed suit in the U.S. District Court for the District of Columbia. The lawsuit seeks to prevent the Department of Health and Human Services' new rule, which goes into effect July 9, that will require direct-to-consumer television advertisements for certain pharmaceuticals and biologics to state the list price of the medicine being advertised. The statement reads, "Amgen agrees with the Administration that patients need clear and relevant information to understand what they can expect to pay for their medicines. In fact, we have already taken proactive steps in our direct-to-consumer (DTC) television advertising and related product websites to enhance pricing transparency (these can be viewed by visiting www.Amgen.com, including links to the list price for all of our products advertised on television). What Amgen doesn't agree with is a government-prescribed approach as required in the new DTC rule. Not only does the rule raise serious freedom of speech concerns, it mandates an approach that fails to account for differences among insurance, treatments, and patients themselves, by requiring disclosure of list price. Most importantly, it does not answer the fundamental question patients are asking: "What will I have to pay for my medicine?" Reference Link

AMGN

Amgen

$176.23

-0.6 (-0.34%)

MRK

Merck

$82.62

0.25 (0.30%)

LLY

Eli Lilly

$111.92

0.12 (0.11%)

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AMGN Amgen
$176.23

-0.6 (-0.34%)

06/05/19
LEHM
06/05/19
NO CHANGE
Target $123
LEHM
Overweight
Mirati Therapeutics price target raised to $123 from $85 at Barclays
Barclays analyst Gena Wang raised her price target for Mirati Therapeutics (MRTX) to $123 from $85 saying Amgen's (AMGN) AMG510 data support KRAS G12C as a validated target, and the "impressive" data provide proof of concept for potentially single agent activity in non-small cell lung cancer. The analyst continues to believe that Mirati's MRTX849 could have a more favorable profile based on the preclinical results, including "longer half-life and good tissue penetration." She reiterates an Overweight rating on Mirati Therapeutics.
06/05/19
HCWC
06/05/19
NO CHANGE
Target $117
HCWC
Buy
Mirati Therapeutics price target raised to $117 from $84 at H.C. Wainwright
H.C. Wainwright analyst Edward White raised his price target for Mirati Therapeutics (MRTX) to $117 from $84 saying the positive data for Amgen's (AMGN) AMG 510 bode well for Mirati's MRTX849. The analyst believes the AMG 510 data "somewhat derisks" the development of MRTX849/ He raised his estimate for probability of success for MRTX849 to 20% from 10% and keeps a Buy rating on Mirati Therapeutics.
06/07/19
GUGG
06/07/19
DOWNGRADE
GUGG
Neutral
Guggenheim downgrades Mirati to Neutral following near-tripling of stock
As previously reported, Guggenheim analyst Michael Schmidt downgraded Mirati Therapeutics (MRTX) to Neutral from Buy, noting that the shares have nearly tripled since data were presented at the European Society for Medical Oncology, or ESMO, meeting in October. While Schmidt said Amgen's (AMGN) KRAS inhibitor Phase I data presented at the American Society of Clinical Oncology meeting validates MRTX849's potential mechanism of action, he sees a "lot of upside" priced in at the current valuation despite the remaining development risks. He also believes investor expectations have significantly increased ahead of Mirati's own Phase I data presentation in the second half of the year.
06/04/19
RHCO
06/04/19
NO CHANGE
Target $120
RHCO
Buy
Mirati Therapeutics price target raised to $120 from $85 at SunTrust
SunTrust analyst Peter Lawson raised his price target on Mirati Therapeutics (MRTX) to $120 and kept his Buy rating following yesterday's "encouraging" ASCO presentation by Amgen (AMGN) regarding its KRAS G12C inhibitor AMG 510. The analyst notes that the side effect profile and response to the treatment's lowest dose in AMG 510 are positive for Mirati's MRTX849, raising his probability Adjusted Peak Sales for the latter to $1.65B from $1.33B with probability of success little changed at 52%.
MRK Merck
$82.62

0.25 (0.30%)

05/21/19
MSCO
05/21/19
NO CHANGE
Target $84
MSCO
Overweight
Morgan Stanley not lowering Keytruda projections despite Merck disappointment
After Merck announced that Keytruda monotherapy failed to beat chemotherapy in a Phase 3 triple negative breast cancer, or TNBC, trial, Morgan Stanley analyst David Risinger said he is not r lowering his Keytruda projections as he is hopeful that the drug can succeed in KN-355, another TNBC trial, later this year. In that trial, a combination of Keytruda plus chemo will be investigated in first-line TNBC, noted Risinger, who has an Overweight rating and $84 price target on Merck shares.
05/22/19
GUGG
05/22/19
NO CHANGE
GUGG
Buy
Guggenheim says Peloton Therapeutics a good strategic fit for Merck
Guggenheim analyst Seamus Fernandez said he thinks Peloton Therapeutics is a good strategic fit for Merck citing the "rational targeting" of a resistance mechanism to VEGF-TKIs commonly used in the treatment of Renal Cell Carcinoma, or RCC. Fernandez, who sees the transaction being minimally dilutive and having no impact on 2019 adjusted EPS guidance, keeps a Buy rating on Merck shares.
05/28/19
GSCO
05/28/19
INITIATION
Target $85
GSCO
Neutral
Merck initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Terence Flynn started Merck with a Neutral rating and $85 price target. The analyst projects the company's earnings and revenue growth through 2022 will be in-line with consensus. As such, he views the stock as fairly valued.
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.
LLY Eli Lilly
$111.92

0.12 (0.11%)

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."
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).
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.

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BAX

Baxter

$81.35

0.79 (0.98%)

05:52
06/20/19
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SHOP

Shopify

$327.40

23.09 (7.59%)

05:48
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COMM

CommScope

$15.62

-0.265 (-1.67%)

05:41
06/20/19
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05:41
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TEL

TE Connectivity

$93.39

0.67 (0.72%)

05:40
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JWN

Nordstrom

$33.18

1.04 (3.24%)

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PGSVY

PGS ASA

$0.00

(0.00%)

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PDD

Pinduoduo

$20.96

0.08 (0.38%)

05:32
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CB

Chubb

$148.73

1.37 (0.93%)

05:30
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OPHLY

Ono Pharmaceutical

$0.00

(0.00%)

05:29
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YARIY

Yara

$0.00

(0.00%)

05:27
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ZURVY

Zurich Insurance

$0.00

(0.00%)

05:26
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IRE

Bank of Ireland

$0.00

(0.00%)

05:24
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DOC

Physicians Realty Trust

$18.27

0.095 (0.52%)

05:23
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HTA

Healthcare Trust

$29.18

0.16 (0.55%)

05:23
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HR

Healthcare Realty Trust

$33.14

0.26 (0.79%)

05:22
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SCRYY

Scor

$0.00

(0.00%)

05:22
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FMS

Fresenius Medical

$39.49

1.175 (3.07%)

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HPQ

HP Inc.

$20.63

0.1 (0.49%)

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DELL

Dell Technologies

$53.39

1.88 (3.65%)

05:15
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FNMA

Fannie Mae

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FMCC

Freddie Mac

$0.00

(0.00%)

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AAPL

Apple

$197.87

-0.65 (-0.33%)

05:12
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JBLU

JetBlue

$19.05

-0.21 (-1.09%)

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VYGR

Voyager Therapeutics

$27.87

0.05 (0.18%)

, SNY

Sanofi

$44.11

0.99 (2.30%)

05:05
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VYGR

Voyager Therapeutics

$27.87

0.05 (0.18%)

SNY

Sanofi

$44.11

0.99 (2.30%)

NBIX

Neurocrine

$85.47

-0.28 (-0.33%)

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ORCL

Oracle

$52.69

-0.19 (-0.36%)

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