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AGN

Allergan

$162.57

-1.69 (-1.03%)

, ABBV

AbbVie

$68.32

-0.82 (-1.19%)

05:39
07/18/19
07/18
05:39
07/18/19
05:39

Allergan downgraded to Market Perform from Outperform at SVB Leerink

SVB Leerink analyst Marc Goodman downgraded Allergan (AGN) to Market Perform from Outperform and lowered his price target for the shares to $188 from $217. The analyst expects the stock to trade based on the AbbVie (ABBV) deal dynamics and no longer on fundamentals. Under the terms of the agreement, Allergan shareholders will receive 0.8660 AbbVie shares and $120.30 in cash for each Allergan share that they hold, for a total consideration of $188.24, Goodman tells investors in a research note.

AGN

Allergan

$162.57

-1.69 (-1.03%)

ABBV

AbbVie

$68.32

-0.82 (-1.19%)

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    Sep

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    Sep

  • 02

    Oct

AGN Allergan
$162.57

-1.69 (-1.03%)

07/16/19
07/16/19
DOWNGRADE

Market Perform
Allergan downgraded to Market Perform at Bernstein
As previously reported, Bernstein analyst Aaron Gal downgraded Allergan (AGN) to Market Perform from Outperform as spread seems fair given sector volatility. The analyst notes that Allergan stock stabilized at about $165 reflecting 9% spread versus takeout price at current Abbvie (ABBV) stock price and 75%-80% odds the deal will close
07/16/19
BERN
07/16/19
DOWNGRADE
BERN
Market Perform
Allergan downgraded to Market Perform from Outperform at Bernstein
07/12/19
WELS
07/12/19
NO CHANGE
Target $29
WELS
Outperform
Australia implant ban 'excellent news' for Establishment Labs, says Wells Fargo
Wells Fargo analyst David Maris believes Australia's proposal to ban, suspend or impose strict restrictions on a number of textured implants from Allergan (AGN), Johnson & Johnson (JNJ) and other smaller manufacturers is "excellent news" for Establishment Labs Holdings (ESTA). The move by Australia's regulatory body Therapeutic Goods Administration will help solidify Establishment's reputation for safety as the company's Motiva brand is the only listed company without any restricted brands, Maris tells investors in a research note. Further, Australia is a highly regulated and developed market, so the ban could help shift market share in other geographies outside of the county as well, contends the analyst. Maris reiterates an Outperform rating on Establishment Labs with a $29 priced target. The stock closed yesterday up $1.54 to $22.44.
07/11/19
WELS
07/11/19
NO CHANGE
WELS
Market right in seeing rebate news as risk to pharmaceuticals, says Wells Fargo
Most pharmaceuticals stocks are down today due to a number of factors, including reports that the Trump Administration is abandoning its plan to lower drug prices by eliminating or restricting pharmacy benefit manager rebating, Wells Fargo analyst David Maris tells investors in a research note. The analyst believes the market is correctly interpreting the move as a potential risk to drugmakers. The absence of a rebating fix "does not mean there will not be a plan to address drug prices, but perhaps a greater risk that the absence of a rebate fix will put additional pressure to come up with ways to actually lower prices in ways that could more greatly impact drug makers than the rebating fix would have," contends Maris. He points out that companies with large cash-pay components of their business, like Allergan (AGN), Establishment Labs (ESTA), Evolus (EOLS), GlaxoSmithKline (GSK), Perrigo (PRGO), Revance (RVNC) and Sientra (SIEN), do not seem to be under as much pressure today as some of their more generic or pharma-concentrated peers. Maris says his Outperform ratings on Allergan, Establishment and Sientra are in part due to their cash-pay concentration
ABBV AbbVie
$68.32

-0.82 (-1.19%)

07/10/19
SBSH
07/10/19
NO CHANGE
SBSH
Neutral
AbbVie risk from Enbrel biosimilars likely manageable, says Citi
Citi analyst Andrew Baum says his analysis suggests that the negative financial impact on Humira from potential U.S. launches of Enbrel biosimilars is likely more limited for AbbVie than envisaged. The likely negative impact of any potential launch on AbbVie's discounted cash flow is at the lower end of the 2%-12% range, Baum tells investors in a research note. He believes the risk is manageable for AbbVie and keeps a Neutral rating on the shares.
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.
06/27/19
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.

TODAY'S FREE FLY STORIES

UVXY

ProShares Trust Ultra VIX Short Term Futures ETF

$31.70

-2.48 (-7.26%)

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JNUG

Direxion Daily Jr Gld Mnrs Bull 3X Shrs

$71.82

-6.26 (-8.02%)

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PCG

PG&E

$10.40

-3.9 (-27.27%)

09:47
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EL

Estee Lauder

$198.05

18.785 (10.48%)

09:47
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TGNA

Tegna

$16.42

1.34 (8.89%)

09:47
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Tegna rises 9.4% »

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ARMK

Aramark

$41.24

4.17 (11.25%)

09:47
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Aramark rises 11.2% »

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PCG

PG&E

$14.30

(0.00%)

09:43
08/19/19
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09:43
08/19/19
09:43
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PG&E rating change  »

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WB

Weibo

$37.05

(0.00%)

, IQ

iQIYI

$17.08

(0.00%)

09:40
08/19/19
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09:40
Options
Unusually active option classes on open August 19th »

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WB

Weibo

$37.05

(0.00%)

IQ

iQIYI

$17.08

(0.00%)

LYFT

Lyft

$52.37

(0.00%)

XLU

Utilities SPDR

$61.35

(0.00%)

UAL

United Continental

$82.96

(0.00%)

WYNN

Wynn Resorts

$105.58

(0.00%)

EA

Electronic Arts

$89.56

(0.00%)

DB

Deutsche Bank

$6.95

(0.00%)

NVDA

Nvidia

$159.48

(0.00%)

MSFT

Microsoft

$136.13

(0.00%)

03/08/13
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OMCL

Omnicell

$70.48

0.475 (0.68%)

09:38
08/19/19
08/19
09:38
08/19/19
09:38
Conference/Events
Omnicell management to meet with Benchmark »

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  • 05

    Sep

CHU

China Unicom

$9.93

0.155 (1.59%)

09:35
08/19/19
08/19
09:35
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09:35
Downgrade
China Unicom rating change  »

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09:35
08/19/19
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09:35
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09:35
General news
FX Action: USD-CAD »

FX Action: USD-CAD pulled…

REDU

Rise Education

$7.88

-0.13 (-1.62%)

09:34
08/19/19
08/19
09:34
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09:34
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Rise Education rating change  »

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TGNA

Tegna

$15.08

1.465 (10.76%)

09:31
08/19/19
08/19
09:31
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09:31
Upgrade
Tegna rating change  »

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  • 05

    Sep

CLNC

Colony Credit Real Estate

$13.04

0.165 (1.28%)

09:31
08/19/19
08/19
09:31
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09:31
Recommendations
Colony Credit Real Estate analyst commentary  »

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ZS

Zscaler

$80.84

1.67 (2.11%)

09:30
08/19/19
08/19
09:30
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09:30
Downgrade
Zscaler rating change  »

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LGF.A

Lionsgate

$11.06

0.02 (0.18%)

, LGF.B

Lionsgate

$10.52

0.01 (0.10%)

09:30
08/19/19
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09:30
Upgrade
Lionsgate, Lionsgate rating change  »

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LGF.A

Lionsgate

$11.06

0.02 (0.18%)

LGF.B

Lionsgate

$10.52

0.01 (0.10%)

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PANW

Palo Alto Networks

$199.26

-15.5 (-7.22%)

09:29
08/19/19
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Palo Alto Networks analyst commentary  »

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PULM

Pulmatrix

$0.82

0.0076 (0.94%)

09:28
08/19/19
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  • 06

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MMSI

Merit Medical

$36.17

-0.67 (-1.82%)

09:27
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Merit Medical appoints Lynne Ward to board of directors »

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  • 04

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VMW

VMware

$143.67

1.13 (0.79%)

, AMZN

Amazon.com

$1,791.82

16.72 (0.94%)

09:27
08/19/19
08/19
09:27
08/19/19
09:27
Recommendations
VMware, Amazon.com, Microsoft analyst commentary  »

VMware to deliver…

VMW

VMware

$143.67

1.13 (0.79%)

AMZN

Amazon.com

$1,791.82

16.72 (0.94%)

MSFT

Microsoft

$136.13

2.39 (1.79%)

03/08/13
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  • 22

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VCEL

Vericel

$16.31

0.705 (4.52%)

09:25
08/19/19
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Conference/Events
Vericel participates in a conference call with SVB Leerink »

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  • 19

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RNVA

Rennova Health

$0.00

(0.00%)

09:22
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Rennova receives CMS notice on change in ownership for Jellico Medical Center »

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PANW

Palo Alto Networks

$199.26

-15.5 (-7.22%)

09:20
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09:20
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09:20
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Palo Alto Networks analyst commentary  »

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  • 04

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HZNP

Horizon Pharma

$27.00

0.17 (0.63%)

09:19
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08/19
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  • 09

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NXRT

NexPoint Residential

$44.85

0.9 (2.05%)

09:19
08/19/19
08/19
09:19
08/19/19
09:19
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NexPoint Residential analyst commentary  »

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