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AGN

Allergan

$159.58

-0.03 (-0.02%)

, ENDP

Endo

$2.37

-0.09 (-3.66%)

08:13
08/31/19
08/31
08:13
08/31/19
08:13

Johnson & Johnson ruling could affect opioid cases, Barron's says

On Aug. 26, a state court ordered Johnson & Johnson (JNJ) to pay Oklahoma $572M, citing misleading marketing of painkillers, and while that ruling has little legal applicability to thousands of other opioid lawsuits, some say it nevertheless could persuade other drug producers to settle, Josh Nathan-Kazis writes in this week's edition of Barron's. Endo International (ENDP) recently settled with the two counties in the first Ohio trial, as did Allergan (AGN), and reports have emerged that Purdue Pharma had offered to file for bankruptcy and strike a settlement worth up to $12B, the author notes. Reference Link

AGN

Allergan

$159.58

-0.03 (-0.02%)

ENDP

Endo

$2.37

-0.09 (-3.66%)

JNJ

Johnson & Johnson

$128.29

0.075 (0.06%)

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    Oct

AGN Allergan
$159.58

-0.03 (-0.02%)

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.
08/07/19
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.
08/20/19
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.
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).
ENDP Endo
$2.37

-0.09 (-3.66%)

07/11/19
RBCM
07/11/19
DOWNGRADE
Target $6
RBCM
Sector Perform
Endo downgraded to Sector Perform from Outperform at RBC Capital
RBC Capital analyst Randall Stanicky downgraded Endo to Sector Perform and lowered his price target to $6 from $11, saying he now expects the company's turnaround to take more time given the opioid litigation uncertainty and its "excessive leverage". The analyst also lowers his FY20 and FY21 EBITDA targets to $1.22B and $1.23B from $1.39B and $1.41B, warning that competitive sector pressures on Endo may linger further.
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.
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.
07/15/19
MSCO
07/15/19
DOWNGRADE
Target $3
MSCO
Underweight
Endo downgraded to Underweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst David Risinger downgraded Endo International to Underweight from Equal Weight and cut his price target for the shares to $3 from $8.
JNJ Johnson & Johnson
$128.29

0.075 (0.06%)

08/27/19
FBCO
08/27/19
NO CHANGE
Target $156
FBCO
Outperform
Opioid ruling reduces uncertainty, helps J&J move higher, says Credit Suisse
Credit Suisse analyst Matt Miksic notes that Johnson & Johnson appeared to react favorably to Oklahoma opioid ruling, due in part, to the $572M penalty being substantially lower than the $17B sought by State prosecutors. The analyst believes the decision helped reduce the range of uncertainty related to the potential opioid-related liability Johnson & Johnson could face, specifically in Oklahoma, if not across the U.S. more broadly. Miksic reiterates an Outperform rating and $156 target on the shares.
08/27/19
JPMS
08/27/19
NO CHANGE
JPMS
Neutral
Johnson & Johnson verdict well below feared worst case, says JPMorgan
The $572M verdict against Johnson & Johnson in Oklahoma came in well below the feared worst case, as investor expectations for the verdict increased over the past few weeks to over $1B, JPMorgan analyst Chris Schott tells investors in a research note. Further, the analyst believes the company has "strong legal grounding" to potentially overturn and/or reduce the verdict. Nonetheless, Schott still sees a more balanced risk/reward near-term for J&J shares and remain on the sidelines with a Neutral rating.
08/27/19
WELS
08/27/19
NO CHANGE
WELS
Outperform
Opioid ruling should assuage Johnson & Johnson investor fears, says Wells Fargo
Wells Fargo analyst Larry Biegelsen thinks decision in Oklahoma is a net positive for Johnson & Johnson in that the amount the judge ordered the company to pay - $572M - was well below the amount the plaintiffs requested - $17.5B. Further, the analyst notes that the amount was for abatement of the entire opioid crisis in Oklahoma, not just Johnson & Johnson's share of it, which seems like something the company should be able to overturn or reduce on appeal. Although J&J plans to appeal the ruling, Biegelsen expects the company to eventually settle this and other opioid cases. Big picture, he estimates Johnson & Johnson will eventually settle the opioid litigation for between $5B-10B payable over several years which admittedly is a rough guess at this time. He has an Outperform rating on the shares.
08/27/19
LEHM
08/27/19
NO CHANGE
Target $140
LEHM
Equal Weight
Barclays views J&J ruling as favorable, keeps Equal Weight rating
The $572M ruling last night against Johnson & Johnson is far less than the $17.2B Oklahoma was asking for and less than what the market was bracing for, Barclays analyst Kristen Stewart tells investors in a research note. As such, the analyst views the ruling favorably and believes it could ultimately be lower following J&J's appeal. However, litigation has and is likely to remain an overhang for the stock, says the analyst. She keeps an Equal Weight rating on shares of Johnson & Johnson with a $140 price target.

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TMUS

T-Mobile

$79.88

0.13 (0.16%)

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Sprint

$6.46

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SIG

Signet Jewelers

$15.36

-0.39 (-2.48%)

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UAL

United Airlines

$89.13

1.23 (1.40%)

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INCY

Incyte

$78.05

-0.47 (-0.60%)

10:47
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PNC

PNC Financial

$143.07

3.51 (2.52%)

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PNC

PNC Financial

$143.11

3.55 (2.54%)

10:45
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PNC

PNC Financial

$143.11

3.55 (2.54%)

10:45
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Breaking Hot Stocks news story on PNC Financial »

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UAL

United Airlines

$89.05

1.15 (1.31%)

, BA

Boeing

$370.43

-0.56 (-0.15%)

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UAL

United Airlines

$89.05

1.15 (1.31%)

BA

Boeing

$370.43

-0.56 (-0.15%)

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PNC

PNC Financial

$143.12

3.56 (2.55%)

10:43
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UAL

United Airlines

$88.99

1.09 (1.24%)

10:42
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CBRE

CBRE Group

$52.66

0.19 (0.36%)

10:40
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PNC

PNC Financial

$142.83

3.27 (2.34%)

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ALXN

Alexion

$102.75

-2.095 (-2.00%)

, ACHN

Achillion

$6.34

2.685 (73.46%)

10:31
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Alexion, Achillion analyst commentary  »

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ALXN

Alexion

$102.75

-2.095 (-2.00%)

ACHN

Achillion

$6.34

2.685 (73.46%)

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IRBT

iRobot

$59.38

1.59 (2.75%)

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WBA

Walgreens Boots Alliance

$54.85

0.34 (0.62%)

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ABC

AmerisourceBergen

$88.20

5.02 (6.04%)

, CAH

Cardinal Health

$50.83

2.9 (6.05%)

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ABC

AmerisourceBergen

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$50.83

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MCK

McKesson

$148.00

9.83 (7.11%)

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VZ

Verizon

$60.11

-0.44 (-0.73%)

, CMCSA

Comcast

$45.42

-0.25 (-0.55%)

10:21
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Fly Intel: Top five analyst initiations »

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VZ

Verizon

$60.11

-0.44 (-0.73%)

CMCSA

Comcast

$45.42

-0.25 (-0.55%)

T

AT&T

$37.95

0.045 (0.12%)

INOV

Inovalon

$15.19

0.145 (0.96%)

ASMB

Assembly Biosciences

$10.95

1.65 (17.74%)

CDXC

ChromaDex

$3.19

0.19 (6.33%)

AXSM

Axsome Therapeutics

$20.68

0.03 (0.15%)

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ADBE

Adobe

$267.83

-11.57 (-4.14%)

, AYI

Acuity Brands

$122.30

-2.51 (-2.01%)

10:20
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Downgrade
Fly Intel: Top five analyst downgrades »

Catch up on today's…

ADBE

Adobe

$267.83

-11.57 (-4.14%)

AYI

Acuity Brands

$122.30

-2.51 (-2.01%)

COST

Costco

$296.18

-2.24 (-0.75%)

NOW

ServiceNow

$251.66

-22.94 (-8.35%)

XOG

Extraction Oil & Gas

$2.47

-0.18 (-6.79%)

03/08/13
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    Dec

JNJ

Johnson & Johnson

$135.77

2.93 (2.21%)

, FMC

FMC Corporation

$84.39

1.33 (1.60%)

10:20
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JNJ

Johnson & Johnson

$135.77

2.93 (2.21%)

FMC

FMC Corporation

$84.39

1.33 (1.60%)

PSTG

Pure Storage

$17.92

0.27 (1.53%)

PDFS

PDF Solutions

$14.29

1.08 (8.18%)

BLDR

Builders FirstSource

$22.13

0.59 (2.74%)

BMCH

BMC Stock Holdings

$26.94

0.79 (3.02%)

03/08/13
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  • 30

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    Dec

WE

We Company

$0.00

(0.00%)

, SFTBF

SoftBank

$0.00

(0.00%)

10:20
10/16/19
10/16
10:20
10/16/19
10:20
Periodicals
SoftBank to give We Company $5B financing, won't take majority stake, NAR says »

SoftBank Group (SFTBF)…

WE

We Company

$0.00

(0.00%)

SFTBF

SoftBank

$0.00

(0.00%)

03/08/13
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CRLBF

Cresco Labs

$0.00

(0.00%)

10:18
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10/16
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10:18
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  • 14

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