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MYL

Mylan

$19.07

-0.02 (-0.10%)

, NVO

Novo Nordisk

$51.82

0.54 (1.05%)

08:02
08/22/19
08/22
08:02
08/22/19
08:02

Novo Nordisk sues Mylan for alleged patent infringement, Reuters reports

Mylan (MYL) has been sued by Novo Nordisk (NVO) for alleged patent infringement, in an attempt to stop Mylan from marketing a generic version of Novo's diabetes drug Victoza, Reuters' Andreas Mortsensen reports. "We can confirm that Novo Nordisk has filed a lawsuit against Mylan for patent infringement of Victoza," the company said in an email. Reference Link

MYL

Mylan

$19.07

-0.02 (-0.10%)

NVO

Novo Nordisk

$51.82

0.54 (1.05%)

  • 09

    Sep

  • 12

    Sep

  • 25

    Sep

MYL Mylan
$19.07

-0.02 (-0.10%)

07/29/19
JPMS
07/29/19
NO CHANGE
JPMS
Overweight
Mylan 'NewCo' could be valued at $25-$32 per share, says JPMorgan
JPMorgan analyst Chris Schott said the Upjohn/Mylan merger will leave Pfizer (PFE) as a pure-play innovative business, though he believes the stock looks "somewhat expensive" relative to peers based on his valuation for its remaining business and the value of the transaction. While he expects an ongoing debate about the Mylan (MYL) "NewCo" multiple, he thinks the newly created asset "appears very inexpensive at current levels." He sees a higher pro forma multiple as warranted for NewCo, noting the combined company will have significantly less U.S. generics exposure and less leverage, and he arrives at a valuation of $25-$32 per share based on a 2020 EBITDA multiple of 7-8x. Schott has a Neutral rating on Pfizer shares and an Overweight rating on Mylan.
07/30/19
MZHO
07/30/19
NO CHANGE
Target $27
MZHO
Neutral
Mylan price target raised to $27 from $25 at Mizuho
Mizuho analyst Irina Koffler raised her price target for Mylan (MYL) to $27 from $25 citing the company's deal with Pfizer''s Upjohn. The analyst, however, reduced her post-merger valuation to $27 per share from $37 based on slightly lower revenue estimates, slower cost synergies, and a lower EBITDA forecast. She reiterates a Neutral rating on Mylan.
07/30/19
MSCO
07/30/19
DOWNGRADE
Target $40
MSCO
Equal Weight
Morgan Stanley downgrades Pfizer, says Upjohn deal 'exposes' weak earnings power
Morgan Stanley analyst David Risinger downgraded Pfizer (PFE) to Equal Weight from Overweight and lowered his price target for the shares to $40 from $48. The stock closed yesterday down 4% to $41.45. Pfizer's planned exit of Upjohn "exposes" the lower than expected earnings for both the remaining business and Upjohn, Risinger tells investors in a research note. The analyst says his thesis that Pfizer would outperform due to improving prospects was "invalidated" by a re-set of earnings on both sides of the business. The company's 2020 disclosures revealed earnings power that is much weaker than we realized, says Risinger. As such, he reduced his 2020 adjusted earnings per share estimate for Pfizer by 15% to $2.56 from $3.02.
07/30/19
MSCO
07/30/19
NO CHANGE
Target $25
MSCO
Overweight
Mylan price target raised to $25 from $22 at Morgan Stanley
Morgan Stanley analyst David Risinger raised his price target on Mylan (MYL) shares from $22 to $25 following the company's deal to combine with Pfizer's (PFE) Upjohn unit. He expects multiple to expand given the positives he sees from the deal, including greater global scale and strength, lower leverage, an attractive dividend yield and improved corporate governance, Risinger stated. He estimates the NewCo to have an enterprise value of $54B and net debt of about $24B, which yields $30B in equity value, which he used to arrive at a share price estimate of $25.
NVO Novo Nordisk
$51.82

0.54 (1.05%)

06/20/19
DBAB
06/20/19
DOWNGRADE
DBAB
Hold
Novo Nordisk downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Richard Parkes downgraded Novo Nordisk to Hold from Buy citing valuation.
06/20/19
06/20/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Novo Nordisk (NVO) downgraded to Hold from Buy at Deutsche Bank with analyst Richard Parkes citing valuation. 2. Shopify (SHOP) downgraded to Neutral from Outperformer at CIBC with analyst Todd Coupland stating that while he is encouraged by the company's product announcements, he believes the upside seen in his investment thesis has now been priced into the stock. 3. Enphase Energy (ENPH) downgraded to Neutral from Buy at H.C. Wainwright with analyst Amit Dayal saying at current levels, the shares are more than adequately pricing in another earnings beat for Q2 and potential guidance raise for 2019. 4. Hershey (HSY) downgraded to Underweight from Neutral at Piper Jaffray with analyst Michael Lavery stating the company has a U.S.-centric portfolio with generally stable sales and earnings growth, but the valuation at current share levels "now looks inconsistent with consensus expectations". 5. Carnival (CCL) downgraded to Market Perform from Outperform at William Blair with analyst Sharon Zackfia noting the company lowered expectations for the remainder of the fiscal year, with constant-currency net yields now expected to be flattish to slightly down in Q3 and down in Q4. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/05/19
PART
08/05/19
UPGRADE
PART
Buy
Novo Nordisk upgraded to Buy from Hold at Pareto
08/13/19
ROTH
08/13/19
NO CHANGE
Target $31
ROTH
Buy
Roth confident Amarin's Vascepa will be 'well-received' by FDA panel
Roth Capital analyst Yasmeen Rahimi noted that the FDA's upcoming Advisory Committee reviewing the sNDA for Amarin's (AMRN) Vascepa will include ten voting and one non-voting committee members, including five endocrinologists, three cardiologists, a biostatistician, a pharmacoepidemiologist, a consumer representative and a non-voting nephrologist. Given that the American Diabetes Association has included Vascepa for CV risk reduction in its recommended treatment guidelines, and the panel has a majority of endocrinologists, she believes that "the committee is primed for a positive reception of Vascepa," Rahimi tells investors. Additionally, the AdCom Chairperson, Dr. Kenneth Burman, previously voted in favor of Novo Nordisk's (NVO) insulin degludec and insulin degludec/aspart when chairing a prior AdCom. Rahimi reads this as a strong sign that he is receptive to new therapies and as a positive for Vascepa's review, she said. The analyst keeps a Buy rating on Amarin shares with a price target of $31.

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AMZN

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IP

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PPL

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