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AMGN

Amgen

$203.43

-0.41 (-0.20%)

, ALXN

Alexion

$123.51

8.64 (7.52%)

06:48
08/23/19
08/23
06:48
08/23/19
06:48

Amgen deal for Alexion 'not such a crazy thought,' says Mizuho

Noting that "Spanish news outlet" Intereconomia has talked about a deal between Amgen (AMGN) and Alexion (ALXN) in at least three separate articles over the last month, claiming most recently that Amgen is now "in the final stretch to buy Alexion" for $200 per share, Mizuho analyst Salim Syed said in a note to investors yesterday that "the concept of this happening doesn't sound too crazy" though the validity of the source can be debated. An Amgen deal for Alexion would be highly accretive and his previous M&A investor survey earlier this year showed Alexion was the deal that the buyside voted for the most, said Syed, who has a Neutral rating on Amgen shares.

AMGN

Amgen

$203.43

-0.41 (-0.20%)

ALXN

Alexion

$123.51

8.64 (7.52%)

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AMGN Amgen
$203.43

-0.41 (-0.20%)

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.
08/22/19
PIPR
08/22/19
NO CHANGE
PIPR
Piper Jaffray says Amgen should buy Alexion
Piper Jaffray analyst Christopher J. Raymond maintained an Overweight rating on both Amgen (AMGN) and Alexion (ALXN), noting in a research note titled 'AMGN for ALXN - Not Saying it Will Happen But We Still Think it Should Happen' that "less-than-mainstream"Spanish publication Intereconomia reported that Amgen is in final phases to acquire Alexion. While the analyst questions the validity of this report, he feels the move "could make a ton of sense, with significant accretion even at $200/share."
ALXN Alexion
$123.51

8.64 (7.52%)

07/29/19
RAJA
07/29/19
DOWNGRADE
RAJA
Market Perform
RA Pharmaceuticals double downgraded to Market Perform at Raymond James
As previously reported, Raymond James analyst Steven Seedhouse double downgraded RA Pharmaceuticals (RARX) to Market Perform from Strong Buy after the stock's rise to $36 per share from about $5.50 per share in March 2018. While he views zilucoplan as a promising therapy for generalized myasthenia gravis, or gMG, the market is pricing the stock "appropriately" for a drug that appears to be competitive with Alexion's (ALXN) Soliris, Seedhouse tells investors.
07/31/19
JPMS
07/31/19
INITIATION
Target $172
JPMS
Overweight
Alexion assumed with an Overweight at JPMorgan
JPMorgan analyst Cory Kasimov assumed coverage of Alexion Pharmaceuticals with an Overweight rating and $172 price target. The rating is unchanged and the target is lowered from $179 relative to his firm's prior coverage. The analyst says early switch metrics on Soliris/Ultomiris conversion gives him confidence that Alexion's greater than 70% guidance by mid 2020 is achievable and potentially conservative. This may also have favorable read-through for Ultomiris in other indications that could contribute meaningfully to better than expected durable growth over the intermediate term, Kasimov tells investors in a research note.
08/07/19
WEDB
08/07/19
NO CHANGE
Target $54
WEDB
Outperform
Xencor price target raised to $54 from $43 at Wedbush
Wedbush analyst David Nierengarten raised his price target for Xencor (XNCR) to $54 from $43 as he believes it remains a de-risked platform name, no near-term cash needs, and with support for its valuation from Alexion (ALXN) Ultomiris royalties, and a potentially more significant royalty stream from tafasitamab with multiple early-stage pipeline candidates to provide future upside. The analyst reiterates an Outperform rating on Xencor's shares.

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T

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DIS

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UAL

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BAC

Bank of America

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0.44 (1.48%)

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TPR

Tapestry

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UHAL

Amerco

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CP

Canadian Pacific

$228.59

-1.38 (-0.60%)

, CNI

Canadian National

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CP

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CNI

Canadian National

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UNP

Union Pacific

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CSX

CSX

$72.50

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MO

Altria Group

$42.01

-0.77 (-1.80%)

, BTI

British American Tobacco

$36.76

-1.21 (-3.19%)

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BTI

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IMBBY

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PM

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REGI

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PSX

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MPC

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EVA

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AIMT

Aimmune

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T

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XBIO

Xenetic

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AAPL

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, DIS

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PHG

Philips

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NBSE

NeuBase Therapeutics

$5.70

-0.04 (-0.70%)

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  • 16

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KDMN

Kadmon

$2.80

-0.015 (-0.53%)

17:18
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KDMN

Kadmon

$2.80

-0.015 (-0.53%)

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RTN

Raytheon

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1.22 (0.62%)

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INPX

Inpixon

$0.14

-0.0001 (-0.07%)

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AUPH

Aurinia Pharmaceuticals

$6.59

0.14 (2.17%)

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