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AMGN

Amgen

$203.84

0.69 (0.34%)

, AGN

Allergan

$161.32

2.1 (1.32%)

09:03
08/22/19
08/22
09:03
08/22/19
09:03

Amgen, Allergan announce 'positive' results from study of ABP 798

Amgen (AMGN) and Allergan (AGN) announced positive top-line results from a comparative clinical study evaluating the efficacy and safety of ABP 798, a biosimilar candidate to Rituxan, compared to Rituxan in patients with CD20-positive B-cell non-Hodgkin's lymphoma. The primary endpoint, an assessment of overall response rate by week 28, was within the prespecified margin for ABP 798 compared to Rituxan, showing clinical equivalence. Safety and immunogenicity of ABP 798 were comparable to Rituxan. This is the second of two studies intended to support regulatory submissions for ABP 798. The first study was conducted in patients with moderate-to-severe rheumatoid arthritis and met the primary endpoint of pharmacokinetic similarity. This RA study demonstrated clinical equivalence within the prespecified efficacy margin, and a similar safety and immunogenicity profile. "Today's results with ABP 798 demonstrate another positive development from Amgen's robust pipeline of biosimilar medicines and we look forward to working with regulatory agencies to bring this treatment to patients," said David Reese, M.D., executive vice president of Research and Development at Amgen. "We continue to leverage our deep expertise and heritage in biologics across innovative and biosimilar medicines as part of our commitment to providing a range of treatment options for patients with the most serious diseases, including cancer."

AMGN

Amgen

$203.84

0.69 (0.34%)

AGN

Allergan

$161.32

2.1 (1.32%)

  • 09

    Sep

  • 16

    Sep

  • 19

    Sep

  • 02

    Oct

AMGN Amgen
$203.84

0.69 (0.34%)

08/19/19
MZHO
08/19/19
DOWNGRADE
MZHO
Neutral
Amgen downgraded to Neutral from Buy at Mizuho
08/19/19
MZHO
08/19/19
DOWNGRADE
MZHO
Neutral
Amgen, Celgene downgraded to Neutral on valuation at Mizuho
As previously reported, Mizuho analyst Salim Syed downgraded Amgen (AMGN) and Celgene (CELG), each to Neutral from Buy, "solely" on the stock's current trading prices nearing what the analyst views as appropriate valuations. Amgen has run up over the last week by about 10% following a "very clean Enbrel litigation win," but the stock price now gives full credit for its Enbrel IP, said Syed, who raised his price target on Amgen shares to $212 from $208. He also cut his price target on Celgene shares to $100 from $103, based on a calculation of one Bristol-Myers (BMY) share being worth $47, plus $50 cash per share and $3 for a risk-adjusted CVR valuation.
08/19/19
08/19/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Air Products (APD) downgraded to Neutral from Positive at Susquehanna. 2. Whiting Petroleum (WLL) downgraded to Sector Perform from Outperform at Scotiabank and to Equal Weight from Overweight at Stephens. 3. Celgene (CELG) and Amgen (AMGN) downgraded to Neutral from Buy at Mizuho. 4. Alliance Resource Partners (ARLP) and Peabody Energy (BTU) downgraded to Neutral from Overweight at JPMorgan. 5. Trillium Therapeutics (TRIL) downgraded to Neutral from Buy at H.C. Wainwright with analyst Swayampakula Ramakanth saying the stock's 80% drop in price to 26c per share from $1.32 in the last six months could "lead to a cash crunch," leaving significant risk for its ability to raise sufficient capital to fund ongoing clinical studies. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/21/19
RBCM
08/21/19
NO CHANGE
Target $192
RBCM
Sector Perform
Amgen price target raised to $192 from $189 at RBC Capital
RBC Capital analyst Kennen MacKay raised his price target on Amgen to $192, boosting his out-year estimates for Embrel sales as well as to reflect the "blockbuster" potential of AMG510. The analyst keeps his Sector Perform rating, noting that he still awaits data updates to better assess durability and competitor dynamics.
AGN Allergan
$161.32

2.1 (1.32%)

08/07/19
LEHM
08/07/19
NO CHANGE
Target $188
LEHM
Equal Weight
Allergan price target raised to $188 from $176 at Barclays
Barclays analyst Balaji Prasad raised his price target for Allergan (AGN) to $188 from $176 to reflect AbbVie's (ABBV) offer price as he assumes the acquisition is set for completion. He keeps an Equal Weight rating on Allergan shares.
08/15/19
WELS
08/15/19
NO CHANGE
Target $176
WELS
Outperform
Allergan price target lowered to $176 from $188 at Wells Fargo
Wells Fargo analyst David Maris lowered his price target for Allergan (AGN) to $176 from $188 after the company reported Q2 results. Overall, the analyst believes the quarter was "not perfect," as Allergan took an impairment charge, and CoolSculpting continues to face pressure, but there were no major surprises in his view and nothing in the quarter makes him incrementally more concerned that the AbbVie (ABBV) deal will close. Maris reiterates an Outperform rating on Allergan's shares.
08/16/19
PIPR
08/16/19
NO CHANGE
PIPR
Neutral
Piper says uptake of AbbVie's Rinvoq should be 'robust' despite black box
Piper Jaffray analyst Christopher Raymond said the approval of Rinvoq ahead of Monday's PDUFA date was "generally in line with expectations" in terms of timing. While Rinvoq did not avoid the black box class labeling seen with other JAKs, he thinks based on his previous survey work that uptake of the drug should "both be robust and minimally impactful to Humira." Raymond keeps a Neutral rating on AbbVie (ABBV) shares, citing his concerns about Humira pressure and over the planned combination with Allergan (AGN).
08/20/19
PIPR
08/20/19
UPGRADE
Target $80
PIPR
Overweight
AbbVie upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Christopher Raymond upgraded AbbVie (ABBV) to Overweight with a price target of $80, saying that while he remains negative on the company's decision to acquire Allergan (AGN), he believes that a bottom on the stock has been found around $66. The analyst adds that he also has concerns about tthe "various pressure points" on AbbVie's Humira business, but he also sees "great opportunity" for the company to leverage its successful launches of Skyrizi and Rinvoq, along with anticipating a "rather durable" Botox cosmetic franchise going forward.

TODAY'S FREE FLY STORIES

UPS

UPS

$120.71

1.61 (1.35%)

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DIS

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$132.18

-1.14 (-0.86%)

, T

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BA

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-5.28 (-1.37%)

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  • 02

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MCF

Contango Oil & Gas

$1.71

-0.07 (-3.93%)

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GLD

SPDR Gold Shares

$142.97

1.68 (1.19%)

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VXRT

Vaxart

$0.58

-0.0307 (-5.03%)

17:37
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Syndicate
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AAPL

Apple

$217.69

-3.22 (-1.46%)

17:34
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Apple given tariff exclusion on certain Mac Pro parts, Bloomberg says »

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IIVI

II-VI

$39.05

-0.5 (-1.26%)

, CPE

Callon Petroleum

$4.53

-0.015 (-0.33%)

17:31
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II-VI to enter S&P 400; Callon Petroleum, PriceSmart to enter S&P SmallCap600 »

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$39.05

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CPE

Callon Petroleum

$4.53

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PSMT

PriceSmart

$60.29

-0.39 (-0.64%)

FNSR

Finisar

$24.31

1.25 (5.42%)

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NVR

NVR

$3,632.55

-30.45 (-0.83%)

, JEF

Jefferies Financial Group

$19.47

-0.19 (-0.97%)

17:26
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Hot Stocks
NVR to replace Jefferies Financial Group in the S&P 500 at open on September 26 »

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NVR

NVR

$3,632.55

-30.45 (-0.83%)

JEF

Jefferies Financial Group

$19.47

-0.19 (-0.97%)

SPB

Spectrum Brands

$49.66

-1.395 (-2.73%)

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  • 16

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NOC

Northrop Grumman

$368.25

-7.45 (-1.98%)

17:24
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Hot Stocks
Northrop Grumman subsidiary awarded $1.12B Missile Defense Agency contract »

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PSMT

PriceSmart

$60.29

-0.39 (-0.64%)

, FNSR

Finisar

$24.31

1.25 (5.42%)

17:23
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Hot Stocks
Breaking Hot Stocks news story on PriceSmart, Finisar »

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PSMT

PriceSmart

$60.29

-0.39 (-0.64%)

FNSR

Finisar

$24.31

1.25 (5.42%)

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  • 30

    Oct

IIVI

II-VI

$39.05

-0.5 (-1.26%)

, CPE

Callon Petroleum

$4.53

-0.015 (-0.33%)

17:22
09/20/19
09/20
17:22
09/20/19
17:22
Hot Stocks
Breaking Hot Stocks news story on II-VI, Callon Petroleum »

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IIVI

II-VI

$39.05

-0.5 (-1.26%)

CPE

Callon Petroleum

$4.53

-0.015 (-0.33%)

03/08/13
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  • 23

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NVR

NVR

$3,632.55

-30.45 (-0.83%)

17:20
09/20/19
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17:20
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Hot Stocks
Breaking Hot Stocks news story on NVR »

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NHYDY

Norsk Hydro

$0.00

(0.00%)

17:12
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Norsk Hydro discloses federal court in Brazil lifts embargo on Alunortes »

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RESN

Resonant

$3.05

0.02 (0.66%)

17:03
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Conference/Events
Resonant participates in a conference call with Loop Capital »

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NINE

Nine Energy Services

$6.73

-0.33 (-4.67%)

17:02
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ATOM

Atomera

$3.70

0.17 (4.82%)

17:00
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Conference/Events
Atomera participates in a conference call with Loop Capital »

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MPWR

Monolithic Power

$154.21

-2 (-1.28%)

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09/20/19
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Conference/Events
Monolithic Power participates in a conference call with Loop Capital »

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AAPL

Apple

$217.69

-3.22 (-1.46%)

16:45
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Breaking Periodicals news story on Apple »

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IDA

IDACORP

$111.26

0.93 (0.84%)

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  • 10

    Nov

MO

Altria Group

$40.80

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EADSY

Airbus

$0.00

(0.00%)

, AL

Air Lease

$42.68

-0.615 (-1.42%)

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EADSY

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$0.00

(0.00%)

AL

Air Lease

$42.68

-0.615 (-1.42%)

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  • 13

    Nov

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Options
Preliminary option volume of 23.5M today »

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PSX

Phillips 66

$103.26

0.14 (0.14%)

16:28
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Phillips 66 says Beaumont oil terminal ops still shut down, Reuters says »

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  • 25

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POST

Post Holdings

$105.73

0.335 (0.32%)

16:24
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