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ESTA

Establishment Labs

$21.09

0.12 (0.57%)

, AGN

Allergan

$166.13

-0.6 (-0.36%)

11:47
07/11/19
07/11
11:47
07/11/19
11:47

Australia implants decision a 'big positive' for Establishment, says Jefferies

After Australia's Therapeutic Goods Administration proposed to cancel or suspend use of textured breast implants, concluding that these devices are associated with a higher rate of anaplastic large cell lymphoma, or ALCL, Jefferies analyst Raj Denhoy called the decision a "big positive" for Establishment Labs (ESTA). The decision is still in the proposal stage, but Establishment is the only manufacturer with products approved in Australia that is not on the list, which proposes to ban implants from Allergan (AGN), J&J's (JNJ) Mentor and other manufacturers, according to Denhoy. He keeps a Buy rating and $40 price target on shares of Establishment Labs.

ESTA

Establishment Labs

$21.09

0.12 (0.57%)

AGN

Allergan

$166.13

-0.6 (-0.36%)

JNJ

Johnson & Johnson

$139.52

-1.71 (-1.21%)

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ESTA Establishment Labs
$21.09

0.12 (0.57%)

06/28/19
WELS
06/28/19
INITIATION
Target $29
WELS
Outperform
Establishment Labs initiated with an Outperform at Wells Fargo
Wells Fargo analyst David Maris started Establishment Labs with an Outperform rating and $29 price target. Establishment has been taking share in the breast implant market with an innovative product line, Maris tells investors in a research note. The analyst's estimates are above consensus as he believes Establishment Labs' guidance is conservative and some of its competitor issues are a near-term tailwind.
03/22/19
ADAM
03/22/19
NO CHANGE
ADAM
Buy
Breast implant panel documents in-line with expectations, says Canaccord
Canaccord analyst Kyle Rose maintains his Buy rating on Sientra (SIEN) following the release of briefing documents ahead of next week's FDA panel meeting to review a range of topics related to the long-term benefits and risks of breast implants, stating that the documents appear to be in-line with expectations and do not appear to raise any materially new or concerning questions or data. However, given the warning letters sent this week to Sientra and J&J's (JNJ) Mentor unit, Rose said he expects the FDA to "take a strong tone" during the panel about the responsibility to support the collection and analysis of relevant safety and efficacy clinical data. Other makers of breast implants include Allergan (AGN) and Establishment Labs (ESTA).
06/07/19
06/07/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Sabre (SABR) initiated with a Buy at Mizuho. 2. Establishment Labs (ESTA) initiated with an Overweight at Stephens. 3. Fate Therapeutics (FATE) initiated with a Neutral at Roth Capital. 4. Select Interior Concepts (SIC) initiated with a Buy at Seaport Global. 5. Applied Materials (AMAT) initiated with a Neutral at Nomura Instinet. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/06/19
SPHN
06/06/19
INITIATION
Target $37
SPHN
Overweight
Establishment Labs initiated with an Overweight at Stephens
Stephens analyst Chris Cooley initiated Establishment Labs with an Overweight rating and $37 price target, citing his view that the company's Motiva silicone-gel breast implants, given their better clinical outcomes and enhanced aesthetics, have the potential to disrupt the $1.5B global implant market. Though he sees a need for additional capital and recognizes the regulatory and commercialization risk, the Motiva portfolio has sufficient growth potential to enable the shares to outperform, Cooley tells investors.
AGN Allergan
$166.13

-0.6 (-0.36%)

06/26/19
06/26/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. State Street (STT) downgraded to Neutral from Buy at UBS with analyst Brennan Hawken saying he has "very little confidence" in when the company will be able to get past the headwinds it is facing. 2. Allergan (AGN) downgraded to Neutral from Buy at Mizuho with analyst Irina Koffler saying she views the AbbVie (ABBV) deal as "a hard-fought and timely exit" for shareholders, citing her concerns about the weakness in Allergan's aesthetics portfolio and the company's growth challenges. 3. Kinder Morgan (KMI) downgraded to Market Perform from Outperform at Raymond James with analyst Justin Jenkins saying shares are up approximately 35% year-to-date and trade at an above-peer multiple despite a mixed outlook for the asset portfolio. 4. Papa John's (PZZA) downgraded to Neutral from Buy at Kalinowski. 5. Illinois Tool Works (ITW) downgraded to Sell from Neutral at Northcoast with the firm's analyst citing concentrated Automotive exposure. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/27/19
WOLF
06/27/19
UPGRADE
WOLF
Peer Perform
AbbVie upgraded to Peer Perform from Underperform at Wolfe Research
Wolfe Research analyst Tim Anderson upgraded AbbVie (ABBV) to Peer Perform from Underperform following the pullback in shares that followed the company's announcement of an agreement to acquire Allergan (AGN). However, Anderson lowered his price target on AbbVie shares to $74 from $84.
07/03/19
RHCO
07/03/19
NO CHANGE
Target $185
RHCO
Buy
Allergan price target raised to $185 from $170 at SunTrust
SunTrust analyst Gregg Gilbert raised his price target on Allergan (AGN) to $185 and kept his Buy rating to reflect its acquisition by Abbvie (ABBV) at that price, with the deal expected to close early next year. The analyst notes that "meaningful upside" for Allergan holders is possible if Abbvie were to experience multiple expansion before the deal closes, given that the latter trades at a significant price to earnings discount relative to its U.S. major pharma peers.
06/26/19
06/26/19
UPGRADE
Target $88

Outperform
AbbVie upgraded to Outperform after Allergan acquisition at SVB Leerink
As previously reported, SVB Leerink analyst Geoffrey Porges upgraded AbbVie (ABBV) to Outperform from Market Perform, with an $88 price target, after the "surprise" Allergan (AGN) acquisition announcement, and the stock's 16%-plus selloff intraday. The analyst notes that the loss of value in AbbVie exceeded the value of the premium the company's offer put on Allergan's value prior to the announcement. Porges also cited AbbVie's new dividend yield of 6.5%, the sustainability and likely growth of that dividend through 2023 and the high probability that AbbVie will extract even more synergies from Allergan than was suggested.
JNJ Johnson & Johnson
$139.52

-1.71 (-1.21%)

07/11/19
RAJA
07/11/19
NO CHANGE
RAJA
Death of drug rebate rule a win for PBMs and distributors, says Raymond James
After multiple media outlets, including Politico, reported that the Trump Administration has decided to withdraw the drug rebate rule, Raymond James analyst Chris Meekins called the news "a win" for pharmacy benefit managers and drug distributors and "a slight negative" for the pharmaceutical makers. The cost of the proposal to the government was ultimately too high with little guarantee that list prices would go down, said Meekins. However, President Trump hinted something "major" on drug pricing was coming over the next week during his kidney care speech and the analyst thinks the President is planning to move forward with an executive order on pricing. Publicly traded pharmaceutical distributors include McKesson (MCK), Cardinal Health (CAH), Amerisource (ABC) and Patterson (PDCO). Owners of pharmacy benefit managers include CVS Health (CVS), UnitedHealth (UNH), Anthem (ANTM) and Cigna (CI). Publicly traded large cap drugmakers include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).
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.
05/30/19
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.
05/30/19
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.

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$46.95

-0.66 (-1.39%)

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Huazhu Group

$34.88

0.23 (0.66%)

21:05
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Pluralsight

$30.66

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20:58
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TWOU

2U

$38.60

-0.34 (-0.87%)

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BVN

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HOPE

Hope Bancorp

$13.96

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CLSA Asian tech analyst team to hold an analyst/industry conference call »

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Bank of America

$28.99

-0.23 (-0.79%)

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Abbott

$83.11

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Bank of America

$28.99

-0.23 (-0.79%)

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Abbott

$83.11

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U.S. Bancorp

$53.04

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PNC

PNC Financial

$138.66

-1.52 (-1.08%)

PGR

Progressive

$84.11

0.105 (0.12%)

BK

BNY Mellon

$43.13

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OMC

Omnicom

$84.08

0.065 (0.08%)

TXT

Textron

$54.02

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Comerica

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SCGLY

Societe Generale

$0.00

(0.00%)

20:08
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SPY

SPDR S&P 500 ETF Trust

$299.75

-1.03 (-0.34%)

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S&P 500

$0.00

(0.00%)

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SPDR S&P 500 ETF Trust

$299.75

-1.03 (-0.34%)

SPX

S&P 500

$0.00

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WAFD

Washington Federal

$34.63

0.02 (0.06%)

20:02
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PAGS

PagSeguro Digital

$44.72

0.755 (1.72%)

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SGEN

Seattle Genetics

$63.12

-0.87 (-1.36%)

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$63.12

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United Continental

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Weibo

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NVLN

Novelion Therapeutics

$0.71

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DLGNF

Dialog Semiconductor

$0.00

(0.00%)

18:41
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BHP

BHP Group

$57.59

-0.27 (-0.47%)

18:39
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  • 16

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DPZ

Domino's Pizza

$246.55

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UBER

Uber

$44.13

-0.38 (-0.85%)

18:18
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  • 08

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LFUS

Littelfuse

$168.35

-2.05 (-1.20%)

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S

Sprint

$7.23

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  • 08

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SGEN

Seattle Genetics

$63.12

-0.87 (-1.36%)

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