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BMY

Bristol-Myers

$45.86

-3.5 (-7.09%)

, CELG

Celgene

$94.16

-4.76 (-4.81%)

10:59
06/24/19
06/24
10:59
06/24/19
10:59

Bristol-Myers' merger headaches could be 'contagious,' STAT News says

Bristol-Myers Squibb (BMY) announced that in order to assuage the Federal Trade Commission's concerns about tis $74B acquisition of Celgene (CELG), it will seek to sell the latter's psoriasis treatment Otezla, STAT News' Matthew Herper writes. If any pharma CEO is "still intoxicated" by the idea of a mega merger, the tough Monday the company is having could be "an antidote," the author contended. Reference Link

BMY

Bristol-Myers

$45.86

-3.5 (-7.09%)

CELG

Celgene

$94.16

-4.76 (-4.81%)

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BMY Bristol-Myers
$45.86

-3.5 (-7.09%)

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.
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.
05/28/19
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.
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.
CELG Celgene
$94.16

-4.76 (-4.81%)

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.

TODAY'S FREE FLY STORIES

GLD

SPDR Gold Shares

$134.59

2.2 (1.66%)

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IBM

IBM

$143.07

-0.47 (-0.33%)

17:33
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Breaking Hot Stocks news story on IBM »

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GD

General Dynamics

$183.60

-3.34 (-1.79%)

, SECCF

Serco Group

$0.00

(0.00%)

17:33
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07/17
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17:33
Hot Stocks
General Dynamics, Serco Group awarded piece of $2.45B Navy contract »

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GD

General Dynamics

$183.60

-3.34 (-1.79%)

SECCF

Serco Group

$0.00

(0.00%)

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    Jul

IBM

IBM

$143.07

-0.47 (-0.33%)

17:31
07/17/19
07/17
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17:31
Hot Stocks
IBM says gross margins expanded across its portfolio in Q2 »

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KERN

Akerna

$13.70

0.87 (6.78%)

17:31
07/17/19
07/17
17:31
07/17/19
17:31
Syndicate
Breaking Syndicate news story on Akerna »

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UBNK

United Financial

$14.05

-0.02 (-0.14%)

17:26
07/17/19
07/17
17:26
07/17/19
17:26
Upgrade
United Financial rating change  »

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  • 17

    Jul

PZN

Pzena Investment

$7.93

-0.4 (-4.80%)

17:22
07/17/19
07/17
17:22
07/17/19
17:22
Earnings
Pzena Investment reports Q2 EPS 18c, one estimate 18c »

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  • 18

    Jul

AUTL

Autolus Therapeutics

$16.00

0.02 (0.13%)

17:18
07/17/19
07/17
17:18
07/17/19
17:18
Syndicate
Breaking Syndicate news story on Autolus Therapeutics »

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  • 09

    Sep

IBM

IBM

$143.07

-0.47 (-0.33%)

17:18
07/17/19
07/17
17:18
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17:18
Hot Stocks
IBM says continue to see 'good' Hybrid Cloud growth this quarter »

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XOG

Extraction Oil & Gas

$3.89

-0.27 (-6.49%)

17:10
07/17/19
07/17
17:10
07/17/19
17:10
Hot Stocks
Morgan Stanley reports 5% passive stake in Extraction Oil & Gas »

In a regulatory filing,…

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SMTX

SMTC Corp.

$3.98

-0.02 (-0.50%)

17:10
07/17/19
07/17
17:10
07/17/19
17:10
Syndicate
Breaking Syndicate news story on SMTC Corp. »

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CCK

Crown Holdings

$59.38

-0.88 (-1.46%)

17:08
07/17/19
07/17
17:08
07/17/19
17:08
Hot Stocks
Breaking Hot Stocks news story on Crown Holdings »

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  • 18

    Jul

CCK

Crown Holdings

$59.38

-0.88 (-1.46%)

17:07
07/17/19
07/17
17:07
07/17/19
17:07
Earnings
Crown Holdings sees FY19 EPS $5.05-$5.20, consensus $5.28 »

The company said the…

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  • 18

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ASH

Ashland

$77.77

-0.64 (-0.82%)

17:06
07/17/19
07/17
17:06
07/17/19
17:06
Earnings
Ashland cuts FY19 adjusted EBITDA for Specialty Ingredients to $560M-$570M »

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W

Wayfair

$151.93

1.965 (1.31%)

17:05
07/17/19
07/17
17:05
07/17/19
17:05
Hot Stocks
Wayfair COO James Savarese, CTO John Mulliken to retire »

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CCK

Crown Holdings

$59.38

-0.88 (-1.46%)

17:05
07/17/19
07/17
17:05
07/17/19
17:05
Earnings
Breaking Earnings news story on Crown Holdings »

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ASH

Ashland

$77.77

-0.64 (-0.82%)

17:03
07/17/19
07/17
17:03
07/17/19
17:03
Earnings
Ashland sees Q3 EPS 76c-78c, consensus 86c »

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CCK

Crown Holdings

$59.38

-0.88 (-1.46%)

17:03
07/17/19
07/17
17:03
07/17/19
17:03
Earnings
Crown Holdings reports Q2 EPS $1.46, consensus $1.47 »

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  • 18

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HOV

Hovnanian

$8.58

-0.27 (-3.05%)

17:01
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17:01
Hot Stocks
Hovnanian receives continued listing standard notice from NYSE »

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UPS

UPS

$102.21

-3.4 (-3.22%)

, JBLU

JetBlue

$19.09

-0.42 (-2.15%)

17:01
07/17/19
07/17
17:01
07/17/19
17:01
Hot Stocks
JetBlue names Teri McClure to Board of Directors »

JetBlue (JBLU) announced…

UPS

UPS

$102.21

-3.4 (-3.22%)

JBLU

JetBlue

$19.09

-0.42 (-2.15%)

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SON

Sonoco

$63.70

-0.38 (-0.59%)

16:58
07/17/19
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Hot Stocks
Sonoco to terminate U.S. defined benefit pension plan for inactive participants »

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PEP

PepsiCo

$132.77

-1.04 (-0.78%)

, AAP

Advance Auto Parts

$157.70

-4.135 (-2.56%)

16:53
07/17/19
07/17
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16:53
Hot Stocks
Advance Auto Parts names Jason McDonnell as Chief Marketing Officer »

Advance Auto Parts (AAP)…

PEP

PepsiCo

$132.77

-1.04 (-0.78%)

AAP

Advance Auto Parts

$157.70

-4.135 (-2.56%)

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  • 25

    Sep

CSX

CSX

$71.37

-8.2 (-10.31%)

, AMZN

Amazon.com

$1,992.41

-17.59 (-0.88%)

16:49
07/17/19
07/17
16:49
07/17/19
16:49
On The Fly
Fly Intel: Wall Street's top stories for Wednesday »

Stocks spent the day…

CSX

CSX

$71.37

-8.2 (-10.31%)

AMZN

Amazon.com

$1,992.41

-17.59 (-0.88%)

BAC

Bank of America

$29.18

0.19 (0.66%)

ABT

Abbott

$85.78

2.67 (3.21%)

MSFT

Microsoft

$136.23

-0.85 (-0.62%)

T

AT&T

$33.26

-0.31 (-0.92%)

NLNK

NewLink Genetics

$1.44

-0.015 (-1.03%)

MRK

Merck

$81.93

0.36 (0.44%)

MTSI

Macom

$17.57

2.02 (12.99%)

SGEN

Seattle Genetics

$75.22

12.1 (19.17%)

INO

Inovio

$2.71

-0.29 (-9.67%)

NUS

Nu Skin

$38.87

-6.63 (-14.57%)

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    Nov

AZRX

AzurRx BioPharma

$1.06

-0.05 (-4.50%)

16:45
07/17/19
07/17
16:45
07/17/19
16:45
Syndicate
AzurRx BioPharma files to sell common stock, no amount given »

H.C. Wainwright & Co.…

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MICR

Micron Solutions

$2.55

(0.00%)

16:44
07/17/19
07/17
16:44
07/17/19
16:44
Hot Stocks
Micron Solutions names Wayne M. Coll CFO »

Micron Solutions…

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