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AMRX

Amneal Pharmaceuticals

$3.35

-0.04 (-1.18%)

, BMY

Bristol-Myers

$43.57

-0.47 (-1.07%)

12:18
07/19/19
07/19
12:18
07/19/19
12:18

Amneal Pharmaceuticals granted tentative FDA approval of Apremilast

Amneal Pharmaceuticals (AMRX) was granted tentative approval from the FDA for its application for Apremilast, a generic version of Otezla, according to a post to the agency's website. Otezla is marketed by Celgene (CELG) and Bristol-Myers (BMY) has said it plans to divest Otezla as part of its deal to acquire Celgene. Reference Link

AMRX

Amneal Pharmaceuticals

$3.35

-0.04 (-1.18%)

BMY

Bristol-Myers

$43.57

-0.47 (-1.07%)

CELG

Celgene

$90.39

-0.51 (-0.56%)

  • 19

    Jul

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    Jul

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    Aug

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    Sep

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    Sep

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    Dec

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    Mar

  • 04

    Apr

AMRX Amneal Pharmaceuticals
$3.35

-0.04 (-1.18%)

07/11/19
RBCM
07/11/19
DOWNGRADE
Target $6
RBCM
Sector Perform
Amneal downgraded to Sector Perform from Outperform at RBC Capital
RBC Capital analyst Randall Stanicky downgraded Amneal Pharmaceuticals to Sector Perform from Outperform and lowered his price target for the shares to $6 from $11. Yesterday's guidance cut implies a "meaningful step-down," which boosts the company's leverage, Stanicky tells investors in a research note. He thinks Amneal can navigate the pressure facing the generic industry, but feels it will take time.
07/10/19
RAJA
07/10/19
DOWNGRADE
Target $8.5
RAJA
Outperform
Raymond James downgrades Amneal to Outperform after guidance cut
As previously reported, Raymond James analyst Elliot Wilbur downgraded Amneal Pharmaceuticals to Outperform from Strong Buy after the company announced "a rather substantial reduction to near-term EBITDA guidance," which he said looked worse than even the "most pessimistic scenarios." While he lowered his price target on Amneal shares to $8.50 from $13, Wilbur also said he still thinks the company has the potential for "best-in-class" ANDA approvals over next two to three years.
07/15/19
MSCO
07/15/19
DOWNGRADE
MSCO
Underweight
Endo, Teva downgraded to Underweight on underappreciated risks at Morgan Stanley
As previously reported, Morgan Stanley analyst David Risinger downgraded Endo International (ENDP) and Teva Pharmaceutical (TEVA), both to Underweight from Equal Weight, cut his price target on Endo shares to $3 from $8 and lowered his price target for Teva shares to $6 from $16. In the wake of Amneal's (AMRX) recent 28% EBITDA guidance cut, Risinger noted that Amneal faces company-specific challenges but also said he is concern about potentially worsening U.S. competitive pricing pressure. He is worried that Endo and Teva both face "underappreciated" risks from buying group pressure being worse than expected, increasing competition among generic manufacturers and the fact that opioid litigation is "just getting started" with thousands of lawsuits having been filed. Risinger also cut his earnings estimates for Mylan (MYL) lowered his price target on its shares to $22 from $32, though he maintains an Overweight rating on that generic drugmaker, citing low valuation and the potential for corporate action. Risinger additionally lowered his price target on Amneal shares to $4 from $12.
07/11/19
RHCO
07/11/19
NO CHANGE
Target $9
RHCO
Buy
Amneal Pharmaceuticals price target lowered to $9 from $16 at SunTrust
SunTrust analyst Gregg Gilberg lowered his price target on Amneal Pharmaceuticals to $9 after its restructuring announcement yesterday, saying the company's base generics business continues to face pressure while its launches are being delayed. The analyst maintains his Buy rating, but says his stance is predicated on a "robust flow of new product launches" beyond 2019 and the company's ability to execute amid the improved industry dynamics.
BMY Bristol-Myers
$43.57

-0.47 (-1.07%)

07/17/19
MZHO
07/17/19
NO CHANGE
Target $103
MZHO
Buy
Amgen seen by Mizuho as 'most likely' buyer of Celgene's Otezla
In the wake of the recent announcement that Bristol-Myers (BMY) plans to divest Otezla as part of its deal to acquire Celgene (CELG), Mizuho analyst Salim Syed said he has received questions on who could be a realistic buyer. He believes the "most likely" buyer would be Amgen (AMGN), followed by Johnson & Johnson (JNJ), which he would label as a "likely" buyer. Syed identifies the "less likely, but possible" buyers as Eli Lilly (LLY) and Regeneron (REGN). The analyst, who said Otezla is worth anywhere from $5B-$10B depending on the view of sales and synergy potential, keeps a Buy rating and $103 price target on Celgene shares.
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).
07/17/19
RAJA
07/17/19
NO CHANGE
RAJA
Investors shouldn't overreact to drug proposal headlines, says Raymond James
Raymond James analyst Chris Meekins noted that President Donald Trump has indicated an Executive Order on drug pricing is coming soon, but he believes investors "should be cautious not to overreact" to drug related proposal headlines as he "cannot think of a single proposal that was finalized and also survived a court challenge resulting in a negative impact on earnings" yet from the Trump Administration. Given the history of the current White House to date, Meekins said he is increasingly skeptical the Administration will get anything meaningful finalized and overcome legal challenges that will impact drugmakers' earnings before the 2020 election, he tells investors in a healthcare policy note. 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).
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.
CELG Celgene
$90.39

-0.51 (-0.56%)

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.
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.

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DB

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MXIM

Maxim Integrated

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GLD

SPDR Gold Shares

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AUMN

Golden Minerals

$0.27

0.0159 (6.38%)

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DMPI

DelMar Pharmaceuticals

$0.77

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RTN

Raytheon

$180.58

-6.44 (-3.44%)

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UHAL

Amerco

$339.43

-2.97 (-0.87%)

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NTLA

Intellia Therapeutics

$15.77

-1.08 (-6.41%)

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GD

General Dynamics

$183.42

-4.19 (-2.23%)

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NVLN

Novelion Therapeutics

$0.66

-0.0523 (-7.37%)

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LMT

Lockheed Martin

$376.85

-8.91 (-2.31%)

17:14
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ONCS

OncoSec

$1.84

-0.03 (-1.60%)

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TNXP

Tonix Pharmaceuticals

$0.42

-0.0249 (-5.60%)

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  • 25

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$284.86

-7.5 (-2.57%)

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Trump to raises tariff rates on Chinese goods, CNBC says »

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S&P 500

$0.00

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SPDR S&P 500 ETF Trust

$284.86

-7.5 (-2.57%)

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ATIS

Attis Industries

$1.03

-0.08 (-7.21%)

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CVEO

Civeo

$1.32

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AGO

Assured Guaranty

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RMED

Ra Medical Systems

$1.87

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PBA

Pembina Pipeline

$35.73

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  • 01

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APEN

Apollo Endosurgery

$3.50

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LQDA

Liquidia Technologies

$5.23

-0.38 (-6.77%)

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V

Visa

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-4.91 (-2.73%)

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QCOM

Qualcomm

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ANFI

Amira Nature Foods

$0.58

-0.0144 (-2.44%)

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