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AMRX

Amneal Pharmaceuticals

$3.43

0.04 (1.18%)

, RDY

Dr. Reddy's

$38.00

0.27 (0.72%)

10:48
07/22/19
07/22
10:48
07/22/19
10:48

Amneal, Dr. Reddy's, Teva generic versions of Lyrica approved by FDA

On July 19, the U.S. Food and Drug Administration approved multiple applications for first generics of Lyrica for the management of neuropathic pain associated with diabetic peripheral neuropathy, for the management of postherpetic neuralgia, as an adjunctive therapy for the treatment of partial onset seizures in patients 17 years of age and older, for the management of fibromyalgia, and for the management of neuropathic pain associated with spinal cord injury, the agency announced today. The FDA granted approvals for the generic versions of Lyrica to Alembic Pharmaceuticals, Alkem Laboratories, Amneal Pharmaceuticals (AMRX), Dr. Reddy's Laboratories (RDY), InvaGen Pharmaceuticals, MSN Laboratories Ltd., Rising Pharmaceuticals, Sciegen Pharmaceuticals, and Teva Pharmaceuticals (TEVA), the agency noted.

AMRX

Amneal Pharmaceuticals

$3.43

0.04 (1.18%)

RDY

Dr. Reddy's

$38.00

0.27 (0.72%)

TEVA

Teva

$7.52

-0.39 (-4.93%)

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    Aug

AMRX Amneal Pharmaceuticals
$3.43

0.04 (1.18%)

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.
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.
07/22/19
LEER
07/22/19
UPGRADE
LEER
Outperform
Amneal Pharmaceuticals upgraded to Outperform at SVB Leerink
RDY Dr. Reddy's
$38.00

0.27 (0.72%)

05/13/19
WELS
05/13/19
NO CHANGE
WELS
Lawsuit against Teva, others to hit generic drug stocks, says Wells Fargo
Wells Fargo analyst David Maris believes the lawsuit by 44 states against 20 generic drugmakers will weigh on generic drug stocks this week and remain an "overhang issue for some time." Actual penalties and damages are impossible to calculate, but could be material, Maris tells investors in a research note. The analyst spoke to the Connecticut attorney general's office this morning and learned they are preparing for trial in these cases. Language the attorney general has used, such as "unprecedented" and his desire to clawback all gains from collusion, should be indicative of the states' intent, Maris writes. He believes that for a sector that is generally highly levered, and with some companies named already facing an overhang from opioid litigation like Teva (TEVA), this is "especially unwelcome news."
05/20/19
MSCO
05/20/19
DOWNGRADE
MSCO
Equal Weight
Dr. Reddy's downgraded to Equal Weight from Overweight at Morgan Stanley
06/11/19
LEHM
06/11/19
INITIATION
Target $39
LEHM
Equal Weight
Dr. Reddy's initiated with an Equal Weight at Barclays
Barclays analyst Balaji Prasad started Dr. Reddy's Laboratories with an Equal Weight rating and $39 rice target. The analyst launched coverage of 20 U.S. Specialty Pharmaceuticals with a Neutral industry view. He placed importance on cash flows and companies' ability to manage leverage and improve balance sheets.
07/01/19
MACQ
07/01/19
UPGRADE
MACQ
Outperform
Dr. Reddy's upgraded to Outperform from Neutral at Macquarie
TEVA Teva
$7.52

-0.39 (-4.93%)

07/19/19
WOLF
07/19/19
INITIATION
Target $9
WOLF
Peer Perform
Teva initiated with a Peer Perform at Wolfe Research
Before the open, Wolfe Research analyst Akash Tewari initiated Teva with a Peer Perform rating and $9 price target.
07/18/19
WELS
07/18/19
NO CHANGE
WELS
Novartis' Sandoz trends a negative for Mylan, Teva, says Wells Fargo
Wells Fargo analyst David Maris said that while Novartis' (NVS) Sandoz Q2 results were better than expected, they were mainly driven by ex-U.S. performance, and the analyst believes this could have "negative implications for other companies with significant U.S. commodity generics, such as Teva (TEVA) and Mylan (MYL) though perhaps moreso for Mylan." Maris noted that on the conference call, Novartis stated, "If you take out one-time, certain one-time effects, you would see that in the U.S. the base business continues to have declines in the mid-teens consistent with what we've seen in past quarters, so we haven't seen yet a stabilization in the core GX business in the U.S." The analyst concluded that the commentary is consistent with his "continued caution on generics."
07/15/19
07/15/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Teva (TEVA) and Endo (ENDP) downgraded to Underweight from Equal Weight at Morgan Stanley. 2. Marriott (MAR) downgraded to Neutral from Buy at Longbow with analyst Alton Stump citing valuation. 3. General Electric (GE) downgraded to Neutral from Buy at UBS with analyst Damian Karas saying that a "notable" decline in interest rates and the continued weakness in the power market combine toward a "more balanced" upside with downside. 4. WageWorks (WAGE) downgraded to Hold from Buy at Stifel with analyst David Grossman saying he does not envision a competing takeover offer for the company. 5. L Brands (LB) downgraded to Neutral from Buy at Citi with analyst Paul Lejuez saying his former view on the stock was based on the belief that a Victoria's Secret turnaround could be successful if the brand adopted a more inclusive approach. However, with management slow to implement meaningful change, and "cultural norms shifting away from them," it may be "too little too late" for a meaningful turnaround at Victoria's Secret. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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Sevcon

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Xylem

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Medifast

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Franklin Electric

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Watts Water

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FSLR

First Solar

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Adobe

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$159.15

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$159.15

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Alphabet

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CVCY

Central Valley Community

$21.49

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FIVE

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Hershey

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Regeneron

$295.79

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, SNY

Sanofi

$46.50

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SPX

S&P 500

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09:18
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Options
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NSCO

Nesco Holdings

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BNPQY

BNP Paribas

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