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CELG

Celgene

$92.41

-0.78 (-0.84%)

08:38
06/27/19
06/27
08:38
06/27/19
08:38

FDA PDUFA Date for Celgene for Revlimid is June 27, 2019

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CELG Celgene
$92.41

-0.78 (-0.84%)

06/25/19
WBLR
06/25/19
NO CHANGE
WBLR
Outperform
Bristol-Myers sentiment suffered 'double hit' yesterday, says William Blair
William Blair analyst Matt Phipps said Bristol-Myers (BMY) suffered a "double hit to sentiment" yesterday with the news of both the CheckMate-459 trial failure in first-line hepatocellular carcinoma and delay of the closing of its Celgene (CELG) deal due to the required Otezla divestiture. He had previously modeled Opdivo sales in the front-line setting of over $1B and Otezla sales growing to $3B before loss of exclusivity in 2028 and decreased his out-year EPS estimates by over $1.00 due to yesterday's news. However, although near-term sentiment is dampened, he still sees a long-term opportunity, said Phipps, who keeps an Outperform rating on Bristol-Myers shares.
06/24/19
CANT
06/24/19
NO CHANGE
Target $100
CANT
Neutral
Celgene pushback surprising, but deal should still close, says Cantor Fitzgerald
Cantor Fitzgerald analyst Alethia Young said she was surprised by the FTC pushback around Otezla and its overlap in psoriasis related to Celgene's (CELG) oral TYK2 program BMS-986165 in psoriasis given that the latter has not yet reported Phase 3 data. After speaking to Bristol-Myers (BMY), Young said management was also disappointed in this FTC decision, which they said was not related to current asset Orencia marketed for rheumatoid arthritis, juvenile idiopathic arthritis, and psoriatic arthritis. Though timelines are delayed, she still sees "a high likelihood" that the deal closes, but potentially 4-6 months behind schedule. Young, who sees many players in Inflammation & Immunology that could leverage oral Otezla with their existing salesforce, added that Bristol may not lose much in value from this divestiture if the process is competitive. She keeps a Neutral rating and $100 price target on Celgene shares.
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.

TODAY'S FREE FLY STORIES

USB

U.S. Bancorp

$53.04

-0.07 (-0.13%)

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BAC

Bank of America

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-0.23 (-0.79%)

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USB

U.S. Bancorp

$53.04

-0.07 (-0.13%)

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BAC

Bank of America

$28.99

-0.23 (-0.79%)

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USB

U.S. Bancorp

$53.04

-0.07 (-0.13%)

06:51
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BAC

Bank of America

$28.99

-0.23 (-0.79%)

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BAC

Bank of America

$28.99

-0.23 (-0.79%)

06:50
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Bank of America reports Q2 provision for credit losses $857M »

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MSI

Motorola Solutions

$171.51

-1.28 (-0.74%)

06:49
07/17/19
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Motorola Solutions rating change  »

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CVRS

Corindus

$2.65

-0.165 (-5.86%)

06:49
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ACRGF

Acreage Holdings

$0.00

(0.00%)

, CGC

Canopy Growth

$35.56

0.405 (1.15%)

06:48
07/17/19
07/17
06:48
07/17/19
06:48
Initiation
Acreage Holdings, Canopy Growth initiated  »

Acreage Holdings…

ACRGF

Acreage Holdings

$0.00

(0.00%)

CGC

Canopy Growth

$35.56

0.405 (1.15%)

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  • 18

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MRK

Merck

$81.57

0.62 (0.77%)

06:48
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Merck's Recabrio approved by FDA for urinary and abdominal infections »

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BAC

Bank of America

$28.99

-0.23 (-0.79%)

06:48
07/17/19
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06:48
Earnings
Bank of America reports Q2 EPS 74c, consensus 71c »

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INO

Inovio

$3.00

0.05 (1.69%)

06:47
07/17/19
07/17
06:47
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06:47
Conference/Events
Inovio to host corporate strategy update conference call »

Conference call will be…

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USB

U.S. Bancorp

$53.04

-0.07 (-0.13%)

06:47
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DGX

Quest Diagnostics

$101.46

0.32 (0.32%)

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TLRY

Tilray

$44.35

0.15 (0.34%)

06:45
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Tilray initiated  »

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ACB

Aurora Cannabis

$7.16

0.16 (2.29%)

06:44
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  • 19

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PNC

PNC Financial

$138.66

-1.52 (-1.08%)

06:43
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Earnings
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OMC

Omnicom

$84.08

0.065 (0.08%)

06:43
07/17/19
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Earnings
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  • 17

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CGC

Canopy Growth

$35.56

0.405 (1.15%)

06:42
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Initiation
Canopy Growth initiated  »

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  • 18

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FULT

Fulton Financial

$16.31

0.11 (0.68%)

06:37
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TXT

Textron

$54.02

0.59 (1.10%)

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AL

Air Lease

$42.15

0.77 (1.86%)

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BK

BNY Mellon

$43.13

-0.02 (-0.05%)

06:35
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Earnings
BNY Mellon reports Q2 EPS $1.01, consensus 95c »

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