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ABBV

AbbVie

$68.10

2.3 (3.50%)

, AVTR

Avantor

$15.57

-0.67 (-4.13%)

04:55
09/11/19
09/11
04:55
09/11/19
04:55

Morgan Stanley to hold a conference

17th Annual Global Healthcare Conference will be held in New York on September 9-11.

ABBV

AbbVie

$68.10

2.3 (3.50%)

AVTR

Avantor

$15.57

-0.67 (-4.13%)

BMRN

BioMarin

$73.62

1.69 (2.35%)

BLUE

Bluebird Bio

$101.67

2.02 (2.03%)

CRL

Charles River

$129.57

-0.03 (-0.02%)

CSII

Cardiovascular Systems

$48.38

1.76 (3.78%)

ELAN

Elanco

$27.89

0.9 (3.33%)

GILD

Gilead

$67.08

0.93 (1.41%)

GLPG

Galapagos

$161.26

3.79 (2.41%)

INOV

Inovalon

$16.35

0.15 (0.93%)

LMNX

Luminex

$20.67

0.19 (0.93%)

NBIX

Neurocrine

$95.09

-4.96 (-4.96%)

NXTC

NextCure

$36.35

1.545 (4.44%)

NVTA

Invitae

$20.35

-0.15 (-0.73%)

MYOK

MyoKardia

$53.10

0.98 (1.88%)

QHC

Quorum Health

$1.47

0.095 (6.91%)

RUBY

Rubius Therapeutics

$8.74

-0.76 (-8.00%)

RMD

ResMed

$133.50

-1.6 (-1.18%)

STE

Steris

$141.44

-3.83 (-2.64%)

TWST

Twist Bioscience

$27.69

0.59 (2.18%)

UBX

Unity Biotechnology

$7.58

0.42 (5.87%)

XERS

Xeris Pharmaceuticals

$10.20

-0.98 (-8.77%)

ZTS

Zoetis

$124.00

-3 (-2.36%)

VCRA

Vocera

$24.09

1.065 (4.63%)

SYK

Stryker

$216.01

-1.19 (-0.55%)

SAGE

Sage Therapeutics

$151.76

1.07 (0.71%)

RCKT

Rocket Pharmaceuticals

$13.13

0.73 (5.89%)

IPSEY

Ipsen

$0.00

(0.00%)

MCK

McKesson

$142.75

-1.79 (-1.24%)

MRK

Merck

$81.80

-0.2 (-0.24%)

MYGN

Myriad Genetics

$24.80

0.37 (1.51%)

KLDO

Kaleido Biosciences

$8.95

0.03 (0.34%)

INSM

Insmed

$18.20

0.23 (1.28%)

LVGO

Livongo Health

$23.69

0.19 (0.81%)

NBRV

Nabriva Therapeutics

$2.36

0.18 (8.26%)

QURE

uniQure

$46.73

1.065 (2.33%)

ORTX

Orchard Therapeutics

$16.33

-0.57 (-3.37%)

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ABBV AbbVie
$68.10

2.3 (3.50%)

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.
08/20/19
08/20/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Pilgrim's Pride (PPC) upgraded to Outperform from Market Perform at BMO Capital with analyst Kenneth Zaslow citing the management's implementation of a "successful execution" of its chicken strategy. 2. Beyond Meat (BYND) upgraded to Overweight from Neutral at JPMorgan while Campbell Soup (CPB) was upgraded to Neutral from Underweight. 3. Chemours (CC) upgraded to Positive from Neutral at Susquehanna with analyst Don Carson saying he thinks end-user destocking of TiO2 appears to have run its course and he views the company as the prime beneficiary of an upturn in industry volumes in 2020. 4. AbbVie (ABBV) upgraded to Overweight from Neutral at Piper Jaffray with analyst Christopher Raymond saying 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. 5. CACI (CACI) upgraded to Outperform from Neutral at Credit Suisse with analyst Robert Spingarn saying in an uncertain macro environment, he likes a defensive name that can support a multi-year story of organic growth, margin expansion, and M&A optionality, all while offering an attractive valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/04/19
PIPR
09/04/19
NO CHANGE
Target $81
PIPR
Overweight
Dermatologist survey positive for AbbVie's Skyrizi, says Piper Jaffray
Piper Jaffray analyst Christopher Raymond says a new survey of 98 dermatologists fielded by his firm's partners Spherix Global Insights indicates that not only is AbbVie's strong initial Q2 Skyrizi print "the real deal," management's guidance of $250M for fiscal 2019 may prove conservative. As of the end of Q2, doctors indicated Skyrizi share was about 1% of patients under management but by year-end 2019, that number should growth to 8%, Raymond tells investors in a research note. The analyst increased his fiscal 2019 and 2020 estimates for Skyrizi and boosted his price target for AbbVie shares to $81 from $80. He remains a buyer of the stock with an Overweight rating, believing upside from both Skyrizi and newly approved Rinvoq to help change the narrative on AbbVie.
AVTR Avantor
$15.57

-0.67 (-4.13%)

06/14/19
JANY
06/14/19
INITIATION
Target $27
JANY
Buy
Avantor initiated with a Buy at Janney Montgomery Scott
Janney Montgomery Scott started Avantor with a Buy rating and $27 fair value estimate.
08/02/19
CLVD
08/02/19
INITIATION
CLVD
Neutral
Avantor initiated with a Neutral at Cleveland Research
08/02/19
08/02/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Alphabet (GOOG, GOOGL), Facebook (FB), and Amazon.com (AMZN) initiated with a Buy at MKM Partners. 2. iHeartMedia (IHRT) initiated with an Overweight at JPMorgan. 3. NuStar Energy (NS) initiated with a Neutral at Mizuho. 4. Ultragenyx (RARE) assumed with an Outperform at Wedbush. 5. Avantor (AVTR) initiated with a Neutral at Cleveland Research. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/06/19
PIPR
08/06/19
NO CHANGE
Target $17
PIPR
Neutral
Piper says Avantor issued 'well-rounded' report in first quarter post-IPO
Piper Jaffray analyst William Quirk said Avantor issued a "well-rounded" first report since coming public, with revenue and adjusted EBITDA that topped Street estimates and revenue and profitability guidance "largely in line" with consensus. While he views the "broad-based strength" as a good indicator of Avantor's customer focus and thinks continued execution could lead to upside, he believes shares will likely trade in line with the falling peer multiple, said Quirk. He keeps a Neutral rating on Avantor shares and trimmed his price target on the stock to $17 from $19 to account for the lower multiple being assigned to the group.
BMRN BioMarin
$73.62

1.69 (2.35%)

07/08/19
PIPR
07/08/19
NO CHANGE
PIPR
Overweight
BioMarin's Valrox maintains competitive advantage, says Piper Jaffray
After BioMarin (BMRN) announced that the company will submit regulatory filings for Valrox to both the FDA and EMA in Q4, and after the company and competitive partners Sangamo (SGMO) and Pfizer (PFE) both presented updates at this weekend's International Society on Thrombosis and Hemostasis meeting, Piper Jaffray analyst Christopher Raymond said that he still believes the company's roughly 2-year head start puts Valrox at a competitive advantage. Following the confirmation on timing for accelerated filing, Raymond said he would continue to be a buyer of BioMarin shares and he keeps an Overweight rating on the stock.
07/08/19
GSCO
07/08/19
NO CHANGE
GSCO
Goldman Sachs looking to a mid-2020 BioMarin valrox approval
Goldman Sachs analyst Salveen Richter notes that BioMarin has announced plans to submit U.S. and EU marketing applications for its gene therapy valrox in adults with severe hemophilia A in Q4 post recent meetings with regulatory authorities. The analyst anticipates a drug launch in mid-2020-plus, noting that valrox addresses a $30B-$90B severe hemophilia A global opportunity. Richter looks to a Q4 R&D day and the gene therapy program for PKU entering the clinic and is positive into vosoritide Phase 3 results in achondroplasia.
07/10/19
WEDB
07/10/19
NO CHANGE
Target $128
WEDB
Outperform
BioMarin weakness 'a buying opportunity' ahead of Q4 catalysts, says Wedbush
Wedbush analyst Liana Moussatos notes that BioMarin has presented results from the valoctocogene roxaparvovec Phase 2 and Phase 3 studies. Following meetings with the FDA and EMA, BioMarin guided to submission of an NDA and MAA for Valrox/Severe Hemophilia A in Q4, she notes. The analyst believes that Valrox has a "clear development lead over" its competition, which may increase the commercial opportunity. Moussatos anticipates approval for Valrox/Hemophilia A as highly likely based on robust efficacy and safety data and projects annual sales could reach over $2B in 2023 after her U.S. estimated launch in year-end 2020. She sees current weakness in the stock as a buying opportunity in front of potentially major clinical and regulatory catalysts in Q4. Moussatos reiterates an Outperform rating and $128 price target on the shares.
07/12/19
JEFF
07/12/19
NO CHANGE
Target $19
JEFF
Buy
Sangamo should be bought at current share levels, says Jefferies
Jefferies analyst Maury Raycroft attributes the recent weakness in shares of Sangamo Therapeutics (SGMO) to negative sentiment related to BioMarin's (BMRN) valrox's durability. The market may be assuming all hemophilia A gene therapies are the same, Raycroft tells investors in a research note. However, he believes Sangamo's SB-525 could be "best-in-class" and keeps a Buy rating on the shares with a $19 price target. The analyst recommends buying the stock at current levels for the company's hemophilia A opportunity and "robust" pipeline.
BLUE Bluebird Bio
$101.67

2.02 (2.03%)

06/18/19
06/18/19
UPGRADE
Target $160

Buy
Bluebird Bio upgraded to Buy from Hold at Maxim
As previously reported, Maxim analyst Jason McCarthy upgraded Bluebird Bio to Buy from Hold with a $160 price target. The analyst acknowledges that the company's commercial delay in the launch of its Zynteglo in Europe is a "speed bump", but believes that pricing of the drug is "reasonable" and valuation on the stock is "attractive" after the Zynteglo timing-related update from the company . McCarthy adds that tBluebird Bio's U.S. filing for Zynteglo could come this year with approval expected to take place in 2020.
08/12/19
WBLR
08/12/19
DOWNGRADE
WBLR
Market Perform
Bluebird Bio downgraded to Market Perform from Outperform at William Blair
William Blair analyst Raju Prasad downgraded Bluebird Bio to Market Perform from Outperform.
08/12/19
WBLR
08/12/19
DOWNGRADE
WBLR
Market Perform
William Blair downgrades Bluebird Bio, calls Zynteglo launch 'slow mover'
William Blair analyst Raju Prasad downgraded Bluebird Bio to Market Perform from Outperform saying he's taking a conservative view on the company's transition from a development-stage company to a commercial-stage company. Based on the reimbursement model, the analyst believes that the Zynteglo launch is likely to be a "slow mover." Further, Prasad altered his model for bb2121-bb21217 to reflect the increased BCMA competition from both autologous and allogeneic cell therapy approaches that he says are moving faster through the clinic than he initially anticipated.
08/12/19
08/12/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. NetEase (NTES) downgraded to Neutral from Buy at Goldman Sachs with analyst Bill Liu citing the company's Q2 revenues miss, mainly on soft online games growth. 2. Occidental Petroleum (OXY) downgraded to In Line from Outperform at Evercore ISI with analyst Doug Terreson saying the company's "pledge" for greater capital discipline and enhanced corporate governance "proved fleeting" with the significant decline in return on capital employed due to the Anadarko acquisition. 3. Adesto Technologies (IOTS) downgraded to Market Perform from Outperform at Northland with analyst Gus Richard saying the company has $34M of high interest debt and needs $10M to pay an earnout by year end, but he thinks the company is holding off on an offering until it reports a "strong" third quarter that will be boosted by an airpod win at Apple (AAPL). 4. Bluebird Bio (BLUE) downgraded to Market Perform from Outperform at William Blair with analyst Raju Prasad saying he's taking a conservative view on the company's transition from a development-stage company to a commercial-stage company. 5. Cemex (CX) downgraded to Market Perform from Outperform at BBVA. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CRL Charles River
$129.57

-0.03 (-0.02%)

02/14/19
RHCO
02/14/19
NO CHANGE
Target $151
RHCO
Buy
Charles River price target raised to $151 from $130 at SunTrust
SunTrust analyst Sandy Draper raised his price target on Charles River to $151 and kept his Buy rating after its "solid Q4 results" and "robust" 2019 guidance. The analyst sees positive momentum for the stock in 2019 from accelerating demand in biotech funding, adding that the lack share repurchases in 2018 and this year gives the management "ample investment & reinvestment opportunities that are being pursued by the company".
04/02/19
WOLF
04/02/19
INITIATION
Target $146
WOLF
Peer Perform
Charles River initiated with a Peer Perform at Wolfe Research
Wolfe Research initiated Charles River with a Peer Perform and $146 price target citing relative valuation.
04/30/19
EVER
04/30/19
INITIATION
Target $160
EVER
Outperform
Charles River resumed with an Outperform at Evercore ISI
Evercore ISI resumed coverage on Charles River with an Outperform and $160 price target.
06/10/19
LEER
06/10/19
INITIATION
Target $155
LEER
Outperform
Charles River initiated with an Outperform at SVB Leerink
SVB Leerink analyst David Larsen initiated Charles River with an Outperform rating and $155 price target.
CSII Cardiovascular Systems
$48.38

1.76 (3.78%)

04/11/19
BOFA
04/11/19
DOWNGRADE
BOFA
Underperform
Cardiovascular Systems downgraded to Underperform on valuation at BofA/Merrill
BofA/Merrill analyst Bob Hopkins downgraded Cardiovascular Systems to Underperform and lowered its price target to $42 from $51. Hopkins changed his view citing mostly valuation following recent share outperformance, but expects the competitive landscape to intensify in 2020 and 2021.
07/16/19
STFL
07/16/19
DOWNGRADE
STFL
Hold
Cardiovascular Systems downgraded to Hold from Buy at Stifel
07/16/19
STFL
07/16/19
DOWNGRADE
Target $45
STFL
Hold
Cardiovascular Systems downgraded to Hold at Stifel on valuation
Stifel analyst Mathew Blackman downgraded Cardiovascular Systems to Hold from Buy but raised his price target to $45 from $41, saying the rating change is "entirely valuation-based" and is not a reflection of a negative view about the company's expected Q4 of FY20 results. The analyst notes that the stock now trades at a multiple of 4.9-times enterprise value to his expected 2020 revenue, which is an 8% premium to its peer group average and near the high end of its 5-year forward multiple range. Blackman further contends that Cardiovascular Systems valuation now reflects the company's "unique combination of scale, attractive gross-margins, portfolio-breadth, and end-market growth."
08/07/19
LSCM
08/07/19
NO CHANGE
Target $60
LSCM
Buy
Cardiovascular Systems price target raised to $60 from $50 at Lake Street
Lake Street analyst Brooks O'Neil raised his price target for Cardiovascular Systems to $60 from $50 citing the company's "solid" fiscal Q4 results. The analyst views Cardiovascular as a "conservative play" with solid top-line growth from continued adoption of its core products as well as through new products and its international segment. He affirms a Buy rating on the shares.
ELAN Elanco
$27.89

0.9 (3.33%)

08/26/19
BOFA
08/26/19
DOWNGRADE
BOFA
Neutral
Elanco downgraded to Neutral from Buy at BofA/Merrill
08/26/19
BOFA
08/26/19
DOWNGRADE
Target $30
BOFA
Neutral
BofA/Merrill downgrades Elanco to Neutral on Bayer deal uncertainty
BofA/Merrill analyst Michael Ryskin downgraded Elanco Animal Health (ELAN) to Neutral from Buy with a $30 price target. While the acquisition of Bayer's (BAYRY) Animal Health business could turn out positive in the longer term, there is too much uncertainty in the near-term, including which parts of the portfolio will be divested due to antitrust issues, Ryskin tells investors in a research note. The analyst does not expect answers until nearer to deal close, which is expected in mid-2020.
08/26/19
08/26/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Foot Locker (FL) downgraded to Neutral from Outperform at Baird and to Neutral from Positive at Susquehanna. 2. Steel Dynamics (STLD) downgraded to Neutral from Buy at Longbow with analyst Christopher Olin saying his confidence in the Steel Mill segment's ability to meet or beat expectations in the second half of 2019 is eroding. 3. Abraxas Petroleum (AXAS) downgraded to Neutral from Buy at Ladenburg with analyst Michael Schmitz saying reduced estimated free cash flow resulting from lower projected commodity prices, combined with uncertainty resulting from the escalation of the trade war, will be additional headwinds for the Exploration and Production group. 4. Elanco (ELAN) downgraded to Neutral from Buy at BofA/Merrill with analyst Michael Ryskin saying while the acquisition of Bayer's (BAYRY) Animal Health business could turn out positive in the longer term, there is too much uncertainty in the near-term, including which parts of the portfolio will be divested due to antitrust issues. 5. Cree (CREE) downgraded to Underweight from Neutral at Piper Jaffray with analyst Harsh Kumar reducing his estimates reducing to reflect broader weakness in the LED market and the impact of Huawei on the Cree's Wolfspeed business. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/09/19
GSCO
09/09/19
INITIATION
GSCO
Elanco initiated at Not Rated at Goldman Sachs
Goldman Sachs analyst Nathan Rich started Elanco at Not Rated amid the company's intentions to acquire Bayer's Animal Health business. The analyst sees Elanco's margin upside as "muted" due to rising competition on its key products. Rich initiated coverage of the Animal Health industry and recommends a selective approach. The positive long-term fundamental drivers of the industry, particularly in the companion animal space, appear increasingly reflected in valuations, the analyst tells investors in a research note.
GILD Gilead
$67.08

0.93 (1.41%)

07/29/19
RBCM
07/29/19
NO CHANGE
Target $171
RBCM
Sector Perform
Galapagos price target raised to $171 from $132 at RBC Capital
RBC Capital analyst Brian Abrahams raised his price target on Galapagos (GLPG) to $171, saying the company is in a "comfortable position" after its "lucrative" Gilead (GILD) deal and the elevation of Filgotinib to commercial status possibly coming next year. The analyst cites the FDA's greater permissiveness on filing and the company's latest comments on Filgotinib safety, though he also intends to monitor the "competitive dynamics" to gauge the program's long-term potential.
07/29/19
07/29/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Ericsson (ERIC) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Alexander Duval citing his view that its fundamentals are solid in Networks, Digital Services and Managed Services but the stock has pulled back by about 5% relative to the others in EU Tech since the company's Q2 report on July 17. 2. AB InBev (BUD) upgraded to Buy from Neutral at BofA/Merrill with analyst Fernando Ferreira saying the cycle of downward earnings revisions is coming to an end. 3. Volaris (VLRS) upgraded to Overweight from Equal Weight at Barclays with analyst Pablo Monsivais saying he sees share upside given the company's "simple model" that drives the lowest possible costs. 4. NXP Semiconductors (NXPI) upgraded to Outperform from In Line at Evercore ISI. 5. Gilead (GILD) upgraded to Top Pick from Outperform at RBC Capital with analyst Brian Abrahams saying the stock represents a "compelling opportunity" with limited downside risks as the company's HIV franchise generates a "steady" annual revenue of about $16B per year over the medium term given the "very strong" uptake of its Biktarvy, according to prescription data. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/30/19
PIPR
07/30/19
NO CHANGE
Target $75
PIPR
Neutral
Gilead's Biktarvy impressive but near-term acceleration needed, says Piper
Piper Jaffray analyst Tyler Van Buren keeps his Neutral rating and $75 price target on Gilead after its "good" Q2 results and raised outlook for FY19 product sales. The analyst notes that the launch of Bikvarty continues to be "impressive", though its performance offsets declines in other antiviral products. Van Buren adds that Gilead's revenue stability is "comforting", but he prefers to see some near-term acceleration, which he contends is possible with filgotinib expected to be submitted by year-end.
09/10/19
MSCO
09/10/19
INITIATION
Target $200
MSCO
Overweight
Galapagos resumed with an Overweight at Morgan Stanley
Morgan Stanley analyst Matthew Harrison resumed coverage of Galapagos (GLPG) with an Overweight rating and $200 price target. The analyst believes Galapagos is well positioned for success following the transaction with Gilead (GILD). He believes Gilead offers a "strong partner" to drive the company's "broad" pipeline while building commercial operations in Europe. Filgotinib will drive near-term upside in Galapagos shares while its greater than $5B cash position provides downside protection, Harrison tells investors in a research note.
GLPG Galapagos
$161.26

3.79 (2.41%)

07/31/19
UBSW
07/31/19
UPGRADE
UBSW
Buy
Galapagos upgraded to Buy from Neutral at UBS
09/09/19
MSCO
09/09/19
INITIATION
Target $200
MSCO
Overweight
Galapagos resumed with an Overweight at Morgan Stanley
Morgan Stanley analyst Matthew Harrison resumed coverage of Galapagos with an Overweight rating and $200 price target.
INOV Inovalon
$16.35

0.15 (0.93%)

02/21/19
PIPR
02/21/19
NO CHANGE
Target $8
PIPR
Underweight
Piper 'not buying' Inovalon's 2019 outlook, expects another miss
Inovalon missed Q4 revenue and profitability, guided Q1 below consensus views, but reiterated its full year 2019 guidance, Piper Jaffray analyst Sean Wieland tells investors in a post-earnings research note titled "We're Not Buying It." It is important to focus on organic subscription revenue growth, which was down 9% sequentially and flat for the trailing two years, but now must grow 24% in 2019 to hit the midpoint of guidance, says the analyst. He's "not buying it," and is calling for another year-end miss. Wieland reiterates an Underweight rating on Inovalon with an $8 price target.
05/02/19
PIPR
05/02/19
NO CHANGE
Target $10
PIPR
Underweight
Piper still cautious on Inovalon after Q1 beat, reiterates Underweight rating
Piper Jaffray analyst Sean Wieland raised his price target for Inovalon to $10 from $8 following the company's Q1 beat but reiterates an Overweight rating on the shares. Greater add-backs and unbilled receivables drove the beat while the company's Q2 guidance was below expectations, Wieland tells investors in a post-earnings research note titled "Big Revenue Ramp Makes Us Wary." He remains remains cautious on Inovalon's "very steep ramp" in subscription revenue growth.
08/26/19
KEYB
08/26/19
UPGRADE
Target $22
KEYB
Overweight
Inovalon upgraded to Overweight from Sector Weight at KeyBanc
KeyBanc analyst Donald Hooker upgraded Inovalon Holdings to Overweight from Sector Weight with a $22 price target.
08/26/19
08/26/19
UPGRADE
Target $22

Overweight
Inovalon upgraded to Overweight at KeyBanc
As previously reported, KeyBanc analyst Donald Hooker upgraded Inovalon Holdings to Overweight from Sector Weight, with a $22 price target, after several "strong" quarters of bookings. The analyst believes Inovalon has been largely "left for dead" by investors after a frustrating few years of underperforming financial expectations. However, looking ahead, with growth now re-accelerating against more reasonable Street estimates, he thinks the company might be finally set up to deliver positive financial surprises.
LMNX Luminex
$20.67

0.19 (0.93%)

09/27/18
PIPR
09/27/18
NO CHANGE
PIPR
Neutral
Piper says about $3.5M of Luminex revenue at risk from Medicare determination
After Palmetto's MolDx released a final local coverage determination that panels of 3-5 pathogens will be covered, but larger panels will not be, Piper Jaffray analyst William Quirk said he believes 51% of the population is covered by MACs that follow MolDX. In terms of the decision's implications for Luminex, Quirk said he sees $3M-$4M in exposure to MolDx Medicare for Luminex's xTAG and Nanosphere tests. He also noted that Luminex management has talked about unbundling to make their panels smaller, which he believes will be the likely outcome. Quirk has a Neutral rating on Luminex shares.
NBIX Neurocrine
$95.09

-4.96 (-4.96%)

07/30/19
FBCO
07/30/19
NO CHANGE
Target $110
FBCO
Outperform
Neurocrine price target raised to $110 from $95 at Credit Suisse
Credit Suisse analyst Evan Seigerman raised his price target for Neurocrine to $110 from $95 and raised Ingrezza sales to $200M in Q3 following the "solid" quarterly beat. The analyst believes that Ingrezza has much more room to grow, and that the company's expanded promotional efforts are likely to drive continued penetration into the addressable TD market which he estimates to be over 500k patients in the U.S. Seigerman reiterates an Outperform rating on the shares.
08/07/19
RBCM
08/07/19
INITIATION
Target $118
RBCM
Outperform
Neurocrine initiated with an Outperform at RBC Capital
RBC Capital analyst Brian Abrahams initiated Neurocrine with an Outperform rating and a price target of $118, saying the company's "high-growth, low-risk" profile should "continue to stand out." The analyst is positive on Neurocrine's strong near-term Ingrezza growth based on his market analysis, current trends, and physician feedback. Abrahams also believes the company has the potential for pipeline candidates to drive incremental longer-term revenue growth and sees that opportunity as "underappreciated" in the market.
08/07/19
08/07/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Bilibili (BILI) initiated with a Buy at Goldman Sachs. 2. Waste Connections (WCN) was initiated with an Overweight at JPMorgan, while Waste Management (WM) and Republic Services (RSG) were initiated with a Neutral. 3. Neurocrine (NBIX) initiated with an Outperform at RBC Capital. 4. Brookfield Property (BPY) initiated with an Outperformer at CIBC. 5. Dropbox (DBX) initiated with an Underperform at Bernstein. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/28/19
GSCO
08/28/19
NO CHANGE
Target $110
GSCO
Buy
Slower Orilissa ramp has minimal impact on Neurocrine, says Goldman Sachs
To reflect the slower than expected ramp in sales of Orilissa in endometriosis, Goldman Sachs analyst Paul Choi lowered his Neurocrine Biosciences (NBIX) forecasts of Orilissa royalties. He projects similar 40% market share by 2026 for both Myovant Sciences' (MYOV) relugolix and Orilissa within endometriosis and uterine fibroid patients treated with a GnRH receptor antagonists. However, in the near-term, since Orilissa royalties are a small fraction of Neurocrine's revenue, these changes have little impact on the company's top- and bottom- lines, says Choi. As such, the analyst keeps a Buy rating on Neurocrine Biosciences with a $110 price target.
NXTC NextCure
$36.35

1.545 (4.44%)

06/03/19
MSCO
06/03/19
INITIATION
Target $25
MSCO
Overweight
Morgan Stanley starts NextCure with an Overweight rating, $25 price target
As previously reported, Morgan Stanley initiated NextCure with an Overweight rating and $25 price target, with analyst Jeffrey Hung telling investors that he sees a rationale to believe NC318 could work as a means to prevent immune suppression by blocking S15. 60-70% of patients do not respond to checkpoint inhibitors, leaving a significant unmet medical need, and NextCure's scientific founder, Dr. Lieping Chen, also discovered PD-L1, giving Hung greater confidence in the rationale for NC318 and NC410, he tells investors.
07/09/19
BOFA
07/09/19
INITIATION
Target $25
BOFA
Buy
NextCure initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Alec Stranahan started NextCure with a Buy rating and $25 price target. The company has developed a unique drug target discovery platform to identify the next generation of immunotherapies, Stranahan tells investors in a research note. Further, the analyst believes NextCure's cash position will likely be sufficient to advance therapies to late stage clinical trials.
07/10/19
PIPR
07/10/19
NO CHANGE
Target $26
PIPR
Overweight
NextCure should be owned ahead of NC318 data, says Piper Jaffray
Piper Jaffray analyst Edward Tenthoff recommends owning shares of NextCure ahead of the full Phase I data for NC318 and Phase II expansion cohorts in Q4. NC318 targets Siglec-15 and is differentially expressed from PD-L1 on tumor cells, Tenthoff tells investors in a research note. NC318 achieved one partial response and six patients with stable disease for an "impressive" early disease control rate of 54%, adds the analyst. He reiterates an Overweight rating on NextCure with a $26 price target.
09/04/19
PIPR
09/04/19
NO CHANGE
Target $54
PIPR
Overweight
NextCure price target raised to $54 from $26 at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff more than doubled his price target for NextCure to $54 from $26 and reiterates an Overweight rating on the shares. The stock closed Wednesday up 7% to $39.43. Enrollment remains ongoing in the Phase I dose escalation study of NC318 targeting Siglec-15 in advanced solid tumors, Tenthoff tells investors in a research note. While early, NC318 has shown initial signs of activity including, adds the analyst. Tenthoff increased his value for NC318 ahead of Phase I data readout in Q4.
NVTA Invitae
$20.35

-0.15 (-0.73%)

03/04/19
03/04/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. MannKind (MNKD) initiated with an Outperform at SVB Leerink. 2. Invitae (NVTA) initiated with a Buy at Chardan. 3. Immunomedics (IMMU) initiated with a Buy at H.C. Wainwright. 4. Canopy Growth (CGC) initiated with a Neutral at Melius Research. 5. Alector (ALEC) initiated with an Overweight at Morgan Stanley and Barclays, an Outperform at SVB Leerink and Cowen, as well as a Buy at BofA/Merrill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/08/19
OPCO
04/08/19
NO CHANGE
Target $30
OPCO
Outperform
Invitae price target raised to $30 from $21 at Oppenheimer
Oppenheimer analyst Kevin DeGeeter raised his price target for Invitae to $30 from $21 based on improved long-term competitive positioning for the company's patient-initiated testing given data presented at the ACMG meeting demonstrating poor performance for a leading DTC genetic test and potential consolidation in DTC market as industry matures and economies of scale, quality/clinical data and regulatory oversight drive market share. The analyst reiterates an Outperform rating on the shares.
04/23/19
BNCH
04/23/19
NO CHANGE
BNCH
UnitedHealth preferred lab launch a long-term plus for Invitae, says Benchmark
Benchmark analyst Bruce Jackson noted that UnitedHealthcare (UNH) plans to launch a Preferred Laboratory Network to include Invitae (NVTA), which he views as a long-term positive for the latter and "another building block for Invitae's strategy to make genetic testing more widely available and more easily reimbursed." Other labs named to the preferred network include LabCorp (LH), Quest Diagnostics (DGX), and BioReference and GeneDx, which are both part of Opko (OPK), the analyst noted. UnitedHealthcare's current network includes NeoGenomics (NEO) and he doesn't anticipate any impact to NeoGenomics from the preferred network launch, added Jackson.
07/12/19
BNCH
07/12/19
NO CHANGE
Target $26
BNCH
Buy
Invitae price target raised to $26 after Jungla deal announcement at Benchmark
Benchmark analyst Bruce Jackson raised his price target on Invitae shares to $26 from $22 following the company's announcement of a deal to acquire privately-held Jungla for $50M plus potential milestone payments. The analyst, who said the deal adds to Invitae's hereditary cancer testing capabilities, keeps a Buy rating on the stock.
MYOK MyoKardia
$53.10

0.98 (1.88%)

01/16/19
CANT
01/16/19
NO CHANGE
Target $90
CANT
Overweight
Cantor reiterates Overweight rating on MyoKardia with $90 target
Cantor Fitzgerald analyst Alethia Young reiterates an Overweight rating on MyoKardia (MYOK) with a $90 price target. The analyst updated her model after MyoKardia partner Sanofi (SNY) decided not to continue the companies' collaboration. Young's model now assumes MyoKardia regaining full global commercial rights to both mavacamten and MYK-491 and also assuming sole responsibility for future development costs. However, her $90 target for MyoKardia shares remains unchanged.
02/21/19
BMOC
02/21/19
INITIATION
BMOC
Outperform
MyoKardia initiated with an Outperform at BMO Capital
BMO Capital analyst George Farmer initiated MyoKardia with an Outperform rating and $85 price target. The analyst said he would be a buyer on his view of the potential of lead drug, mavacamten, for treatment of hypertrophic cardiomyopathy. He added that the recent stock pullback caused by the loss of Sanofi (SNY) as an entrenched partner, which he believes mostly had to do with Sanofi pipeline re-prioritization, creates an attractive entry point for investment in MyoKardia.
03/05/19
BMOC
03/05/19
NO CHANGE
Target $90
BMOC
Outperform
MyoKardia price target raised to $90 from $85 at BMO Capital
BMO Capital analyst Kelly Bania raised her price target on MyoKardia to $90 and kept her Outperform rating, saying its latest PIONEER open-label extension results support the mavacamten efficacy and safety in oHCM patients while also posing a "positive read-through to the ongoing Phase 3 EXPLORER trial for oHCM". Bania notes that her new price target reflects a 10% increase in probability of success of mavacamten in oHCM and nHCM to 70% and 50% respectively.
05/20/19
JPMS
05/20/19
NO CHANGE
Target $85
JPMS
Overweight
MyoKardia price target raised to $85 from $75 at JPMorgan
JPMorgan analyst Anupam Rama raised his price target for MyoKardia to $85 from $75 citing the potential of the company's lead asset mavacamten for the treatment of hypertrophic cardiomyopathy. There is a significant unmet need in hypertrophic cardiomyopathy and need for new treatment options, Rama tells investors in a research note. Further, his work suggests that physicians view the totality of PIONEER-HCM data as "very encouraging / impressive." The analyst estimates mavacamten has $2.5B-plus sales potential in the U.S. alone. He keeps an Overweight rating on shares of MyoKardia and believes the stock has the potential to double.
QHC Quorum Health
$1.47

0.095 (6.91%)

05/13/19
RBCM
05/13/19
NO CHANGE
Target $2
RBCM
Sector Perform
Quorum Health price target lowered to $2 from $6 at RBC Capital
RBC Capital analyst Frank Morgan lowered his price target on Quorum Health to $2 after its Q1 earnings miss that was driven by softer than expected volumes, even though the analyst believes that the volume disruptions have normalized this quarter. The analyst calls the Q1 miss disappointing, but also notes that contributions from the company's "new opportunities" not reflected in the original guidance have allowed Quorum Health Management to maintain its outlook. Morgan keeps his Sector Perform rating on the shares.
09/03/19
EVER
09/03/19
NO CHANGE
EVER
Evercore says Tenet has highest exposure among hospitals to Dorian's new path
Evercore ISI analyst Michael Newshel estimates that Tenet (THC) has 22% of its beds in coastal counties in Florida, Georgia, South Carolina and North Carolina, where mandatory evacuations have been ordered in certain coastal areas due to the expected path of Hurricane Dorian. HCA Healthcare (HCA) has 15% of its beds in coastal counties in Florida, George and South Carolina, including 8% in counties that have received evacuation orders, while Universal Health (UHS) has one acute hospital, representing 3.6% of its total acute beds, in the affected coastal counties, and 8% of its behavioral beds are in coastal counties, the analyst noted. Newshel said Community Health (CYH), Quorum Health (QHC) and Acadia (ACHC) do not have any coastal exposure in the four states expected to be most impacted by Dorian.
RUBY Rubius Therapeutics
$8.74

-0.76 (-8.00%)

06/26/19
HCWC
06/26/19
INITIATION
Target $40
HCWC
Buy
Rubius Therapeutics initiated with a Buy at H.C. Wainwright
H.C. Wainwright analyst Andrew Fein initiated Rubius Therapeutics with a Buy rating and $40 price target, stating that he believes the company can generate Red Cell Therapeutics with "unprecedented efficiency." He thinks that Rubius' pipeline diversity and platform strength are underappreciated ahead of the first-in-human data for RTX-134 in phenylketonuria, which is due in the second half of the year.
07/11/19
HCWC
07/11/19
NO CHANGE
Target $40
HCWC
Buy
Rubius' RTX-240 offers differentiated value propositions, says H.C. Wainwright
H.C. Wainwright analyst Andrew Fein believes Rubius Therapeutics' RTX-240 offers differentiated value propositions that are being underappreciated by the market. The analyst has a bullish view on IL-15 in cancer treatment and RTX-240's "competitive strength" RTX-240 differentiates by presenting the natural conformation of IL-15/IL-15R-alpha, synergistic effects from 4-1BBL and improved safety profile with vascular bio-distribution, Fein tells investors in a research note. He keeps a Buy rating on Rubius Therapeutics with a $40 price target.
09/09/19
BARD
09/09/19
INITIATION
Target $4
BARD
Underperform
Rubius Therapeutics initiated with an Underperform at Baird
Baird started Rubius Therapeutics with an Underperform rating and $4 price target.
09/10/19
BARD
09/10/19
INITIATION
Target $4
BARD
Underperform
Rubius Therapeutics coverage initiated, dearth of data for platform says Baird
As reported previously, Baird analyst Madhu Kumar initiated coverage on Rubius Therapeutics with an Underperform rating as he believes there is a dearth of even preclinical data supporting its red cell therapeutic (RTC) platform particularly its lead asset RTX-134 which has an approved comparator drug and potentially disruptive gene therapy competition. Kumar has a $4 price target on Rubius Therapeutics shares.
RMD ResMed
$133.50

-1.6 (-1.18%)

05/03/19
05/03/19
DOWNGRADE

ResMed downgraded to Negative from Neutral at Evans & Partners
Evans & Partners analyst Steve Wheen downgraded ResMed to Negative from Neutral following the company's fiscal Q3 results. The analyst believes it is "time for the stock to take a breather on valuation grounds."
05/06/19
UBSW
05/06/19
UPGRADE
UBSW
Buy
ResMed upgraded to Buy from Neutral at UBS
07/16/19
UBSW
07/16/19
DOWNGRADE
UBSW
Neutral
ResMed downgraded to Neutral from Buy at UBS
07/29/19
GSCO
07/29/19
UPGRADE
GSCO
Buy
ResMed upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Chris Cooper upgraded ResMed to Buy from Neutral, citing his view that the current pricing dynamics are "more favorable than at any time through the last decade." He expects stable pricing across both Medicare and commercial channels through calendar 2020 and he expects ResMed to benefit from the breadth and depth of its portfolio, Cooper tells investors. The analyst, who now forecasts sales and EPS CAGRs of 8% and 11%, respectively, from FY19-22, raised his price target on ResMed shares to A$21.20 from A$16.70.
STE Steris
$141.44

-3.83 (-2.64%)

11/13/18
KEYB
11/13/18
NO CHANGE
Target $132
KEYB
Overweight
STERIS price target raised to $132 from $120 at KeyBanc
KeyBanc analyst Matthew Mishan raised his price target for STERIS to $132 from $120 post Q2. Moving forward, the analyst continues to believe that there are drivers to sustain long-term organic revenue growth at over 5%, it seems capable of offsetting various cost headwinds and there is opportunity for steady operating margin expansion, and eventually, there could be upside to estimates from EPS accretive M&A. Mishan reiterates an Overweight rating on the shares.
05/15/19
SPHN
05/15/19
NO CHANGE
Target $150
SPHN
Overweight
STERIS price target raised to $150 from $135 at Stephens
Stephens analyst Chris Cooley raised his price target on STERIS shares to $150 from $135 after the company reported Q4 results that topped consensus, noting that all four of the its business segments had better than expected revenue growth and increased operating margins. Cooley, who said he is confident STERIS can either meet or exceed its FY20 guidance, keeps an Overweight rating on the shares, which he continues to view as a "core holding."
07/09/19
KEYB
07/09/19
DOWNGRADE
KEYB
Sector Weight
STERIS downgraded to Sector Weight from Overweight at KeyBanc
07/10/19
KEYB
07/10/19
DOWNGRADE
KEYB
Sector Weight
Steris downgraded to Sector Weight on valuation at KeyBanc
KeyBanc analyst Matthew Mishan last night downgraded Steris to Sector Weight from Overweight with the shares above his previous price target of $138. The stock, after rallying 43% year-to-date, could be reaching its "vertical limit," Mishan tells investors in a research note. With that said, the analyst remains confident in a "sustained runway for organic growth" for Steris.
TWST Twist Bioscience
$27.69

0.59 (2.18%)

11/26/18
COWN
11/26/18
INITIATION
COWN
Outperform
Twist Bioscience initiated with an Outperform at Cowen
Cowen analyst Doug Schenkel initiated Twist Bioscience with an Outperform rating, citing its scalable commercial platform to industrialize the synthetic engineering of DNA. He said its positioning and market opportunity warrant a premium valuation. Schenkel has not established a price target yet for Twist Bioscience shares.
11/26/18
11/26/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Nvidia (NVDA) initiated with an Outperform at Credit Suisse. 2. Orchard Therapeutics (ORTX) initiated with an Outperform at Wedbush and Cowen, an Overweight at JPMorgan, and a Neutral at Goldman Sachs. 3. Twist Bioscience (TWST) initiated with an Outperform at Cowen and Baird as well as a Neutral at JPMorgan. 4. Axonics (AXNX) initiated with a Buy at BofA/Merrill and SunTrust, an Outperform at Wells Fargo, and an Overweight at Morgan Stanley. 5. Gamida Cell (GMDA) initiated with a Buy at Needham. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/31/19
EVER
05/31/19
INITIATION
Target $30.5
EVER
Outperform
Twist Bioscience initiated with an Outperform at Evercore ISI
Evercore ISI analyst Ross Muken initiated Twist Bioscience with an Outperform rating and $30.50 price target, telling investors that disruptive potential of synthetic biology is "massive" across industries. Twist's core business of DNA synthesis and its NGS Tools business give it "two shots on goal" to maintain greater than 25% growth over the next 3-5 years. Investors in the stock also get "two call options," namely the company's potential to provide synthetic RNA and DNA to RNAi therapeutic companies to help develop APIs and its potential to use DNA as a storage medium.
05/31/19
05/31/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Lithia Motors (LAD) initiated with a Buy at Longbow. 2. Upland Software (UPLD) initiated with a Buy at Jefferies. 3. Alkermes (ALKS) initiated with a Neutral at H.C. Wainwright. 4. Twist Bioscience (TWST) initiated with an Outperform at Evercore ISI. 5. CyberArk (CYBR) initiated with a Buy at Berenberg. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
UBX Unity Biotechnology
$7.58

0.42 (5.87%)

03/06/19
CANT
03/06/19
INITIATION
Target $21
CANT
Overweight
Unity Biotechnology initiated with an Overweight at Cantor Fitzgerald
Cantor Fitzgerald analyst Elemer Piros initiated Unity Biotechnology with an Overweight and $21 price target.
03/07/19
CANT
03/07/19
INITIATION
Target $21
CANT
Overweight
Cantor sees multiple potential blockbusters for Unity Biotechnology
Cantor Fitzgerald analyst Elemer Piros last night initiated coverage of Unity Biotechnology with an Overweight rating and $21 price target. The company is making progress on treatments that could extend healthspan, a longer disease-free state, by targeting indications that are associated with aging, Piros told investors in a research note. He believes Unity has a portfolio with multiple potential blockbusters. With greater than 46M Americans over the age of 65, expected to increase to 98M by 2060, a large market exists for treating diseases of aging, said the analyst.
05/07/19
SBSH
05/07/19
NO CHANGE
SBSH
Buy
Citi opens positive 90-day catalyst watch on Unity Biotechnology
Citi analyst Yigal Nochomovitz opened a 90-day catalyst watch on Unity Biotechnology ahead of the Phase 1 data in Q2 for UBX0101 in osteoarthritis of the knee. Expectations for the data "remain muted" with the stock down 50% since the initial public offering one year ago, Nochomovitz tells investors in a research note. He sees a low bar to achieving proof-of-biology given that this is the first-ever study testing the senescent cell hypothesis in clinical trials. Nochomovitz expects the stock to be up at least 50% if at least some of the clinical endpoints hit statistical significance. The analyst keeps a Buy rating on Unity Biotechnology.
XERS Xeris Pharmaceuticals
$10.20

-0.98 (-8.77%)

09/13/18
EAMC
09/13/18
INITIATION
Target $10
EAMC
Sell
Xeris Pharmaceuticals initiated with a Sell at Empire
Empire analyst Dr. Cathey Reese initiated Xeris Pharmaceuticals with a Sell and $10 price target saying its main pipeline product is a stable liquid glucagon in an autoinjector device, which the company filed for an FDA approval in mid-August-2018. Reese said several competitor pipelines, including Eli Lilly's (LLY), are in development for stable liquid glucagon products and the likely approval of Lilly's nasal spray glucagon should make it difficult for Xeris to reach investors' revenue expectations.
06/07/19
MZHO
06/07/19
NO CHANGE
Target $27
MZHO
Buy
Xeris selloff on PDUFA extension a buying opportunity, says Mizuho
Mizuho analyst Difei Yang recommends buying shares of Xeris Pharmaceuticals on weakness from the extension of the FDA action date for Gvoke. The delay is not material, and a number of PDUFA goal date extensions for drug applications have concluded with product approvals, Yang tells investors in a research note. The analyst would buy shares of Xeris, "especially on recent weakness," and reiterates a Buy rating on the name with a $27 price target.
ZTS Zoetis
$124.00

-3 (-2.36%)

08/07/19
FBCO
08/07/19
NO CHANGE
Target $130
FBCO
Outperform
Zoetis price target raised to $130 from $115 at Credit Suisse
Credit Suisse analyst Erin Wilson Wright raised her price target for Zoetis to $130 from $115 saying it remains her top pick in animal health, and that she believes double-digit earnings growth should continue on consistent revenue growth over an improving cost structure with capital deployment opportunities supplementing growth. The analyst reiterates an Outperform rating on the shares.
08/07/19
CHLM
08/07/19
NO CHANGE
Target $138
CHLM
Buy
Zoetis price target raised to $138 from $132 at Craig-Hallum
Craig-Hallum analyst Kevin Ellich raised his price target for Zoetis to $138 from $132 after the company reported a "nice" Q2 beat and raise driven by strong companion animal growth despite some livestock headwinds. The analyst reiterates a Buy rating on the shares.
09/04/19
ARGS
09/04/19
NO CHANGE
Target $140
ARGS
Buy
Zoetis to further optimize its animal health leadership potential, says Argus
Argus analyst Jasper Hellweg is raising his price target on Zoetis to $140 and also lifts his FY19 and FY20 EPS views by 6c to $3.58 and $3.98 respectively after its Q2 results last week, saying the company has now beaten expectations for 20 consecutive quarters. The analyst cites Zoetis product portfolio expansion track record along with the recent acquisition of Platinum Performance, which the company expects to diversify its equine and petcare offerings. Hellweg adds that animal health industry has "solid growth potential", and he expects Zoetis to continue to "optimize" its leadership position in the space.
09/09/19
GSCO
09/09/19
INITIATION
Target $145
GSCO
Conviction Buy
Zoetis initiated with a Conviction Buy at Goldman Sachs
Goldman Sachs analyst Nathan Rich started Zoetis with a Buy rating and $145 price target and added the shares to his firm's Americas Conviction List. The analyst sees "compelling" long-term value in the stock from the anticipated launch of Simparica Trio in Q1 of 2020, which he thinks could become the first billion-dollar animal health drug and has the potential to deliver "significant upside" to consensus estimates. Rich initiated coverage of the Animal Health industry and recommends a selective approach. The positive long-term fundamental drivers of the industry, particularly in the companion animal space, appear increasingly reflected in valuations, the analyst tells investors in a research note.
VCRA Vocera
$24.09

1.065 (4.63%)

07/26/19
CANT
07/26/19
NO CHANGE
Target $36
CANT
Overweight
Vocera price target lowered to $36 from $40 at Cantor Fitzgerald
Cantor Fitzgerald analyst Steven Halper lowered his price target for Vocera Communications to $36 from $40 and reiterates an Overweight rating on the shares. The company's Q2 results were "strong," however, combined backlog and deferred revenue increased just 6% year-over-year, Halper tells investors in a research note. Based on company commentary, the analyst believes a handful of contracts did not sign, but he notes that Vocera has received verbal commitments. With delayed signings, the company reduced its 2019 revenue guidance by about 3% at the mid-point of the range, Halper points out. The analyst, thought, still expects a stronger second half of 2019. Market dynamics support the return to mid-teens top-line growth next year, says the analyst.
07/26/19
WBLR
07/26/19
NO CHANGE
WBLR
Outperform
Vocera should be bought on any material weakness, says William Blair
William Blair analyst Ryan Daniels recommends buying shares of Vocera Communications today on any material weakness. The company last night reported "relatively solid" Q2 results, however, management modestly updated its 2019 guidance, reducing its sales forecast by about $6M, or 3%, at the midpoint of the range, Daniels tells investors in a research note. He attributes this to the timing of several larger enterprise bookings. This is merely a timing issue, as the company has good visibility into closing these deals, just later than anticipated, says Daniels. While the stock likely will sell off modestly on the guidance reduction, the risk profile is actually lower now, and management alluded that the new guidance is somewhat conservative, contends the analyst. Daniels reiterates an Outperform rating on Vocera.
08/23/19
JEFF
08/23/19
DOWNGRADE
Target $75
JEFF
Hold
Cerner assumed at Hold, down from Buy, at Jefferies
Jefferies analyst David Windley assumed coverage of Cerner (CERN) with a Hold rating, down from the firm's prior Buy rating, stating that he thinks spending for hospital IT is challenged after years of aggressive implementations. He believes the market understands Cerner's path well and believes the company's margin targets "require some heavy lifting," Windley stated. He also assumed coverage of NextGen Healthcare (NXGN) with an unchanged Hold rating and assumed coverage of Allscripts (MDRX) and Vocera (VCRA) with unchanged Buy ratings. Windley set a $75 price target on Cerner shares, up from the firm's prior $69 target.
08/23/19
JEFF
08/23/19
INITIATION
Target $30
JEFF
Buy
Vocera assumed with a Buy at Jefferies
Jefferies analyst David Windley assumed coverage of Vocera with a Buy rating and $30 price target, down from the firm's prior $40 target. Despite his broader industry view that spending for hospital IT is challenged after years of aggressive implementations, he sees Vocera as well-positioned to capitalize on "Internet of Things" workflow improvements that are gaining momentum in hospitals. He estimates Vocera can return to revenue growth of about 13% in Q4 and 12-14% revenue growth through FY22, Windley stated.
SYK Stryker
$216.01

-1.19 (-0.55%)

07/26/19
CANT
07/26/19
NO CHANGE
Target $230
CANT
Overweight
Stryker price target raised to $230 from $190 at Cantor Fitzgerald
Cantor Fitzgerald analyst Craig Bijou raised his price target for Stryker to $230 from $190 citing the company's "impressive" Q2 results. The analyst, however, thinks investor expectations for the stock "remain lofty." He keeps a Neutral rating on the shares.
07/26/19
ADAM
07/26/19
NO CHANGE
Target $233
ADAM
Buy
Stryker price target raised to $233 from $195 at Canaccord
Canaccord analyst Kyle Rose raised his price target on Stryker to $233 from $195 following strong Q2 results. The analyst said there was momentum across the entire portfolio and operationally, its earnings reflected strong sales growth and operating expense improvements. Rose reiterated his Buy rating on Stryker shares.
09/04/19
PIPR
09/04/19
NO CHANGE
PIPR
Overweight
Piper says robotics entry can accelerate Stryker's spine implant pull-through
After Stryker announced the purchase of Mobius Imaging and Cardan Robotics for $370M upfront and $130M in potential future milestones, Piper Jaffray analyst Matt O'Brien said he believes that having a robotics offering should accelerate implant pull-through for the company's Spine division. The analyst, who also sees the deals helping Stryker to present a more complete offering to customers once commercially available, keeps an Overweight rating on the stock.
09/05/19
ADAM
09/05/19
NO CHANGE
Target $233
ADAM
Buy
Stryker M&A activity viewed positively, says Canaccord
Canaccord analyst Kyle Rose noted Stryker agreed to acquire an imaging and robotics company which put them deeper into the spine business and complement their broader portfolio of robotic and navigation offerings which Rose believes is the future of spine surgery. Rose views the moves positively and views Stryker as a compelling asset. Rose reiterated his Buy rating and $233 price target on Stryker shares.
SAGE Sage Therapeutics
$151.76

1.07 (0.71%)

07/24/19
PIPR
07/24/19
NO CHANGE
PIPR
Overweight
Sage's early pipeline looks 'increasingly interesting,' says Piper Jaffray
After Sage Therapeutics issued a clinical progress update on some of its depression, neurology, and neuropsychiatry franchise programs, Piper Jaffray analyst Danielle Brill said she thinks its early stage assets, including SAGE-324 in essential tremor and SAGE-718 for disorders with NMDA hypofunction, are "becoming increasingly interesting." Brill, who thinks the readout of the trial of SAGE-217 in major depressive disorder is still the key focus for investors, is confident that trial will be a success and she keeps an Overweight rating on Sage shares.
07/25/19
OPCO
07/25/19
NO CHANGE
Target $200
OPCO
Outperform
Sage Therapeutics price target raised to $200 from $170 at Oppenheimer
Oppenheimer analyst Jay Olson raised his price target for Sage Therapeutics to $200 from $170 after its SAGE-217 delivered positive open-label Phase 2 data in bipolar depression with 48% response rate. The analyst notes that Sage also presented a post-hoc analysis suggesting potential efficacy of SAGE-217 in treatment resistant depression. He reiterates an Outperform rating on the shares.
08/06/19
PIPR
08/06/19
NO CHANGE
Target $206
PIPR
Overweight
Sage Therapeutics Phase 3 data to drive shares higher, says Piper Jaffray
Piper Jaffray analyst Danielle Brill keeps an Overweight rating on Sage Therapeutics with a $206 price target following the company's Q2 results. The analyst does not expect meaningful Zulresso revenue until Q4, but the crux of her bullish thesis rests on SAGE-217, which she believes is "shaping up to be a transformative and differentiated new drug for mood-disorders." The stock's important near-term catalyst is the Phase 3 major depressive disorder data in Q4 of this year or Q1 of 2020. Brill says that given Sage's execution thus far and the "robust" data generated SAGE-217 to-date, she has a "high level of conviction" that the trial will be positive. A successful trial will "significantly de-risk" SAGE-217 and drive shares higher, says the analyst.
08/07/19
OPCO
08/07/19
NO CHANGE
Target $190
OPCO
Outperform
Sage Therapeutics price target lowered to $190 from $200 at Oppenheimer
Oppenheimer analyst Jay Olson lowered his price target for Sage Therapeutics to $190 from $200 after the company provided Q2 results and a business update, including ongoing Zulresso launch and an R&D portfolio prioritization process to optimize pipeline investments. The analyst reiterates an Outperform rating on the shares.
RCKT Rocket Pharmaceuticals
$13.13

0.73 (5.89%)

03/15/19
BOFA
03/15/19
INITIATION
Target $27
BOFA
Buy
Rocket Pharmaceuticals initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Ying Huang initiated Rocket Pharmaceuticals with a Buy and $27 price target citing encouraging clinical and preliminary clinical results in the company's disease gene therapy pipeline.
03/15/19
03/15/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Simmons First National (SFNC) initiated with a Buy at DA Davidson. 2. Amgen (AMGN) and Gilead (GILD) initiated with an Outperform at BMO Capital. 3. Rocket Pharmaceuticals (RCKT) initiated with a Buy at BofA/Merrill. 4. Urovant Sciences (UROV) initiated with a Buy at SunTrust. 5. Spectrum (SPPI) assumed with a Buy at Jefferies. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/22/19
BARD
04/22/19
INITIATION
Target $28
BARD
Outperform
Rocket Pharmaceuticals initiated with an Outperform at Baird
Baird analyst Madhu Kumar started Rocket Pharmaceuticals with an Outperform rating and $28 price target.
04/22/19
BARD
04/22/19
INITIATION
BARD
Outperform
Rocket Pharmaceuticals initiated with an Outperform at Baird
Baird analyst Madhu Kumar initiated Rocket Pharmaceuticals with an Outperform rating and a $28 price target, with the analyst saying that lentiviral gene therapy RP-L102 for the treatment of Fanconi anemia type A, which is currently in Phase 1/2 with data expected in the second half of the year, could serve as a "key catalyst" for the stock.
IPSEY Ipsen
$0.00

(0.00%)

02/20/19
02/20/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Pfizer (PFE) resumed with a Neutral from Sell at Citi with analyst Andrew Baum saying the recent pullback in the stock, along with the 5%-8% 2019-2021 consensus estimate reductions, gives him the opportunity to close his Sell rating. 2. Transocean (RIG) and Diamond Offshore (DO) were upgraded to Overweight from Underweight at Barclays. 3. American Axle (AXL) upgraded to Buy from Neutral at BofA/Merrill with analyst John Murphy citing progress with restructuring, GM's (GM) truck cycle, and balance sheet deleveraging. 4. Credit Suisse (CS) upgraded to Hold from Sell at Berenberg. 5. Ipsen (IPSEY) upgraded to Neutral from Sell at Goldman Sachs with analyst Diana Na citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/04/19
BARD
03/04/19
DOWNGRADE
Target $27
BARD
Neutral
Baird downgrades Clementia to Neutral on lack of data ahead of deal closing
As reported previously, Baird analyst Madhu Kumar downgraded Clementia Pharmaceuticals (CMTA) to Neutral from Outperform. The analyst cited a likely lack of chronic dosing results pre-deal closure with Ipsen (IPSEY). The timing of the deal vote versus MOVE interim data provides little room for upside, said Kumar, who has a $27 on price target on Clementia Pharmaceuticals shares.
04/24/19
WELS
04/24/19
NO CHANGE
Target $189
WELS
Outperform
Ipsen commentary a positive for Allergan's Botox business, says Wells Fargo
Wells Fargo analyst David Maris notes that Ipsen (IPSEY) reported Q1 results and reported overall sales of Dysport of approximately EUR$94M, up 10% over Q1 2018, citing strong performance in the U.S. in both therapeutics and aesthetics. The analyst believes the commentary from Ipsen is a positive read through to Allergan (AGN) and its key franchise, Botox, in the near-future and over the longer-term. Allergan has cited market expansion as a tailwind for Botox in the past as well, and Ipsen's commentary reiterates that viewpoint, he adds. Maris reiterates an Outperform rating and a $189 price target on Allergan's shares.
05/20/19
JPMS
05/20/19
UPGRADE
JPMS
Neutral
Ipsen upgraded to Neutral from Underweight at JPMorgan
JPMorgan analyst Richard Vosser upgraded Ipsen to Neutral from Underweight with a price target of EUR 110.
MCK McKesson
$142.75

-1.79 (-1.24%)

07/22/19
GUGG
07/22/19
INITIATION
Target $152
GUGG
Neutral
McKesson initiated with a Neutral at Guggenheim
Guggenheim analyst Glen Santangelo initiated McKesson with a Neutral and $152 price target.
07/22/19
FBCO
07/22/19
INITIATION
Target $143
FBCO
Neutral
McKesson reinstated with a Neutral at Credit Suisse
Credit Suisse analyst Erin Wilson Wright reinstated coverage of McKesson with a Neutral rating and $143 price target. The analyst says her incrementally positive bias stems from evidence of stabilizing trends across the U.S. pharmaceutical supply chain, where she sees relief from easing generic deflation as well as enhanced visibility across branded price inflation and rebate paradigms. That said, with its shares up 26% from a low in March, Wright sees limited room for upside, acknowledging drug pricing scrutiny remains an overhang into an election cycle, along with other potential headwinds such as opioid litigation.
08/05/19
WOLF
08/05/19
DOWNGRADE
WOLF
Peer Perform
McKesson downgraded to Peer Perform from Outperform at Wolfe Research
Wolfe Research downgraded McKesson to Peer Perform from Outperform citing share outperformance.
08/06/19
CLVD
08/06/19
NO CHANGE
CLVD
Neutral
Cardinal Health recently lost 2 major accounts, says Cleveland Research
Cleveland Research analyst Rob Eich reports that his contacts indicate that Cardinal Health (CAH)recently lost two large specialty pharmacy contracts, including one to AmerisourceBergen (ABC) and one to McKesson (MCK). He estimates these contracts, which both should transition in about the first 6 months of FY20, represent $2B-$3B in annualized sales and are likely to be a drag on revenue growth of about 125-175 basis points, Eich told investors in a pre-open research note. He keeps a Neutral rating on Cardinal Health shares.
MRK Merck
$81.80

-0.2 (-0.24%)

07/22/19
OPCO
07/22/19
DOWNGRADE
OPCO
Perform
Oppenheimer downgrades Intec Pharma after 'major setback' of trial miss
As previously reported, Oppenheimer analyst Jay Olson downgraded Intec Pharma (NTEC) to Perform from Outperform after the company announced "a major setback" as the ACCORDANCE study did not achieve statistical superiority to Sinemet on the primary endpoint of reduction in daily OFF time. He noted that the company still has additional opportunities with other drugs, including proprietary partnerships with Novartis (NVS) and Merck (MRK), but said the read across from AP-CD/LD to other AP applications in different diseases is uncertain following this morning's news.
08/07/19
ARGS
08/07/19
NO CHANGE
Target $105
ARGS
Buy
Merck price target raised to $105 from $95 at Argus
Argus analyst David Toung raised his price target on Merck to $105 and kept his Buy rating after its "strong" Keytruda-driven Q2 earnings beat, also boosting his FY19 and FY20 EPS view by 16c and 10c to $4.89 and $5.35 respectively. The analyst sees Merck's "blockbuster" Keytruda drug on track for additional indications in the U.S., Japan, China and Europe, with additional growth drivers coming from its Gardasil, Bridion, Lynparza, and Lenvima programs.
08/15/19
LEER
08/15/19
INITIATION
Target $103
LEER
Outperform
Merck initiated with an Outperform at SVB Leerink
SVB Leerink analyst Daina Graybosch initiated Merck with an Outperform rating and $103 price target.
08/16/19
08/16/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Merck (MRK) initiated with an Outperform at SVB Leerink. 2. DocuSign (DOCU) initiated with a Buy at DA Davidson. 3. iQIYI (IQ) initiated with an Underweight at JPMorgan. 4. Goodyear Tire (GT) initiated with an Outperform at Exane BNP Paribas. 5. BlackBerry (BB) initiated with a Neutral at Macquarie. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
MYGN Myriad Genetics
$24.80

0.37 (1.51%)

08/14/19
JPMS
08/14/19
NO CHANGE
Target $27
JPMS
Underweight
Myriad Genetics reported another disappointing quarter, says JPMorgan
Myriad Genetics reported another disappointing quarter as most products fell short of expectations, JPMorgan analyst Tycho Peterson tells investors in a research note. While the company continues to make incremental progress on guideline and reimbursement expansion for a number of products, the timing and magnitude of revenue upside remains uncertain, adds the analyst. Peterson sees more downside risk for shares at current levels and maintains an Underweight rating on Myriad Genetics with a $27 price target.
08/14/19
08/14/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Avedro (AVDR) downgraded to Neutral from Overweight at JPMorgan with analyst Robbie Marcus saying another suitor emerging to compete with Glaukos's (GKOS) buyout offer is unlikely. 2. Myriad Genetics (MYGN) downgraded to Neutral from Overweight at Piper Jaffray with analyst William Quirk saying the company reported "disappointing" fiscal Q4 results with revenue, adjusted earnings and FY20 guidance well below consensus. 3. Pattern Energy (PEGI) downgraded to Market Perform from Outperform at Wells Fargo with analyst Neil Kalton saying after the company confirmed it has drawn interest from third parties, the analyst believes Pattern's current valuation reflects some amount of a takeout premium. 4. Advance Auto Parts (AAP) downgraded to Neutral from Buy at Guggenheim with analyst Ali Faghri citing the company's weaker than expected Q2 results and sees risk to its fiscal 2019 guidance. 5. Equity Commonwealth (EQC) downgraded to Market Perform at JMP Securities with analyst Mitch Germain citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/14/19
LEHM
08/14/19
DOWNGRADE
Target $25
LEHM
Underweight
Myriad Genetics downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Jack Meehan downgraded Myriad Genetics to Underweight from Equal Weight after the company disclosed that it is in discussion with the FDA to make changes to the GeneSight test report, which he thinks could compromise the test's value proposition. While Myriad would not comment further on what changes it would need to make, the analyst believes the primary concern raised by the FDA may be around specific medication recommendations for patients with depression. Meehan also lowered his price target on the shares to $25 from $40.
08/22/19
PIPR
08/22/19
NO CHANGE
Target $40
PIPR
Neutral
LCD's incrementally positive for Myriad Genetics, says Piper Jaffray
Piper Jaffray analyst William Quirk notes that Palmetto issued two draft LCDs regarding coverage of pharmacogenomic testing. The proposal comes after expanded private payor coverage followed by FDA scrutiny, he adds. The analyst believes the LCD's are incrementally positive for Myriad as the CMS draft change would expand the target market from 16M patients who experienced a major depressive episode to the broader 46.6M people with psychiatric illness. That said, these LCD's remain secondary to the more pressing threat to GeneSight, which is the FDA's attempts to restrict information about drug recommendations, he contends. Quirk reiterates a Neutral rating and a $40 price target on the shares.
KLDO Kaleido Biosciences
$8.95

0.03 (0.34%)

03/25/19
ADAM
03/25/19
INITIATION
Target $19
ADAM
Buy
Kaleido Biosciences initiated with a Buy at Canaccord
Canaccord analyst John Newman initiated Kaleido Biosciences with a Buy rating and $19 price target. The analyst believes KB195 could achieve about $310M in peak U.S. sales in 2030E for urea cycle disorder-incuded hyperammonemia and estimates about $596M in U.S. peak sales for KB174 in HE-induced hyperammonemia. The analyst also believes the company's MMT platform could be "highly efficient" and low cost, and sees a good buying opportunity ahead of several data readouts int he next 12-18 months.
03/25/19
MSCO
03/25/19
INITIATION
Target $17
MSCO
Overweight
Kaleido Biosciences initiated with an Overweight at Morgan Stanley
Morgan Stanley analyst Matthew Harrison initiated Kaleido Biosciences with an Overweight rating and $17 price target, stating that he believes the company's platform for developing glycan molecules to modify the function of the gut is promising, particularly for hyperammonemia conditions. Harrison thinks the risk/reward is "skewed to the positive" ahead of Phase I/II hyperammonemia data in late 2019 and mid-2020, he tells investors.
03/25/19
03/25/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Frontdoor (FTDR) initiated with an Overweight at JPMorgan. 2. LivePerson (LPSN) initiated with an Overweight at Piper Jaffray. 3. Kaleido Biosciences (KLDO) initiated with an Overweight at Morgan Stanley, a Buy at Canaccord and Goldman Sachs, and a Neutral at JPMorgan. 4. Fox Corp. (FOXA) initiated with a Hold at Loop Capital and an Overweight at JPMorgan. 5. Gold Resource (GORO) initiated with a Buy at H.C. Wainwright. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/23/19
CHDN
04/23/19
INITIATION
Target $17.5
CHDN
Buy
Kaleido Biosciences initiated with a Buy at Chardan
Chardan analyst Taylor Feehley initiated Kaleido Biosciences with a Buy and $17.50 price target.
INSM Insmed
$18.20

0.23 (1.28%)

03/26/19
STFL
03/26/19
NO CHANGE
Target $43
STFL
Buy
Pulmonologist call reinforces Stifel view of upside for Insmed
After hosting a conference call with two key opinion leader pulmonologists to discuss the rollout of Arikayce, Stifel analyst Adam Walsh said their feedback suggested the strong start for the drug was not the result of a "bolus" of patients awaiting approval and noted that both doctors said their new-patient starts remain steady. While it "remains early days in the launch," the call with the doctors reinforced his belief that Insmed's Arikayce guidance is likely conservative, Walsh tells investors. He keeps a Buy rating and $43 price target on Insmed shares.
04/09/19
HCWC
04/09/19
NO CHANGE
Target $52
HCWC
Buy
Insmed price target raised to $52 from $43 at H.C. Wainwright
H.C. Wainwright analyst Andrew Fein raised his price target for Insmed to $52 from $43 saying the company yesterday announced a positive update on the U.S. launch of Arikayce. The broadening of the prescriber base "is not short lived and can continue, as well as possibly be supplemented by label expansion into first line patients," Fein tells investors in a research note. He keeps a Buy rating on the shares.
08/01/19
STFL
08/01/19
NO CHANGE
Target $43
STFL
Buy
Insmed selloff 'decidedly overdone,' says Stifel
Stifel analyst Adam Walsh notes that despite another "strong beat and raise quarter," Insmed's shares are trading off, which is likely attributable to persistent concerns regarding future Arikayce drop-outs leading to a flattening of the growth curve, some timing uncertainty on the front-line trial launch, and the recent capital raise done at $26/share and related selling pressure based on that alone. On drop-outs, the analyst acknowledges lack of long-term visibility but believes the rate thus far has been better than expected. On the PRO measure, Walsh believes it is "critically important" for Insmed to "get it right," given the large font-line opportunity. Overall, the analyst sees the selloff as "decidedly overdone" in light of the continued strong Arikayce launch execution and encouraging forward guidance. Walsh reiterates a Buy rating and $43 price target on the shares.
09/03/19
GSCO
09/03/19
INITIATION
Target $30
GSCO
Buy
Insmed initiated with a Buy at Goldman Sachs
Goldman Sachs analyst Graig Suvannavejh initiated Insmed with a Buy rating and a price target of $30, saying the stock offers an attractive entry point at 50% below its 52-week high as a de-risked commercial-stage biopharma with "significant" potential for expansion. The analyst contends that Insmed's lead orphan lung disease product Arikayce is well-positioned with it's early life cycle stage, no obvious competition and the potential for both geographic and label expansion. Suvannavejh adds that the company's INS1007 also has pipeline potential while garnering "little investor attention".
LVGO Livongo Health
$23.69

0.19 (0.81%)

09/05/19
LEER
09/05/19
NO CHANGE
LEER
Livongo Health reports solid quarter and guidance, says SVB Leerink
SVB Leerink analyst Daniel Grosslight maintained an Outperform rating and $50 price target on Livongo Health following the company's Q2 earnings report. The analyst said the quarter was "solid," with Q2 beating estimates slightly and Q3 revenue guidance also slightly above consensus. While the quarter was "by no means a blow-out quarter," it was "good enough" and Grosslight would be a buyer on weakness.
09/05/19
PIPR
09/05/19
NO CHANGE
Target $40
PIPR
Overweight
Piper Jaffray recommends buying Livongo Health on weakness
Piper Jaffray analyst Sean Wieland kept his Overweight rating and $40 price target on Livongo Health, saying he would buy the stock on weakness after its 17% decline following its first earnings report as a public company. The analyst notes Livongo Health revenue was in-line and EBITDA was just below consensus, but he remains bullish on the 2020 outlook for the stock. Wieland cites the management's expectations of a stronger bookings trend in the back half of the year, when the company will also have a 90% visibility on its revenues. The analyst adds that "optimized" clients have an engagement rate of 47% vs. 34% average, and that figure could rise as high as 70%.
09/06/19
ADAM
09/06/19
NO CHANGE
Target $46
ADAM
Buy
Livongo Health weakness a buying opportunity, says Canaccord
Canaccord analyst Richard Close believes the weakness in Livongo Health following its better than expected Q2 results, is a buying opportunity. The analyst said its guidance portends stellar revenue growth for the year. He said Q3 EBITDA guidance was below expectations due to higher IPO expenses but without it, EBITDA would have been higher. Close said the reaction is an over-reaction to the downside and he would be a buyer of the shares. Close reiterated his Buy rating and $46 price target on Livongo Health shares.
09/06/19
MSCO
09/06/19
NO CHANGE
Target $42
MSCO
Overweight
Livongo Health selloff represents a buying opportunity, says Morgan Stanley
Morgan Stanley analyst Ricky Goldwasser said she views the post-earnings selloff in Livongo Health shares as a buying opportunity given that the results and earnings call comments point to upside to her estimates. She has increased confidence in the strength of underlying business trends after her follow-up conversation with management and attributes the negative reaction to the report to the fact that the upper end of the company's 2019 revenue guidance range came in below some of the buyside's expectations. Goldwasser reiterates an Overweight rating and $42 price target on Livongo Health shares.
NBRV Nabriva Therapeutics
$2.36

0.18 (8.26%)

05/13/19
HCWC
05/13/19
NO CHANGE
HCWC
H.C. Wainwright affirms Buy on Nabriva ahead of expected Lefamulin approval
H.C. Wainwright analyst Ed Arce affirmed a Buy rating and $7 price target on Nabriva Therapeutics as he expects Lefamulin's FDA approval for the treatment of community-acquired bacterial pneumonia around its August 19 PDUFA date. Additionally, the analyst expects Lefamulin's EU approval in mid-2020.
08/16/19
HCWC
08/16/19
NO CHANGE
HCWC
H.C. Wainwright sees Q2 2020 approval for Nabriva's Contepo
H.C. Wainwright analyst Ed Arce affirmed a Buy rating and $7 price target on Nabriva Therapeutics after the company's announced its plan to resubmit its New Drug Application, or NDA, of Contepo. The analyst sees an approval decision in Q2 of 2020, assuming the NDA is resubmitted in early Q4 of19 as planned. Arce added that it was important that "the FDA did not request new clinical or non-clinical data, nor specify any concerns regarding Contepo's safety or efficacy in the Type A meeting minutes."
08/20/19
HCWC
08/20/19
NO CHANGE
Target $8
HCWC
Buy
Nabriva Therapeutics price target raised to $8 at H.C. Wainwright
H.C. Wainwright analyst Ed Arce maintained a Buy rating on Nabriva Therapeutics and raised his price target to $8 from $7 after the company's Xenleta received FDA approval to treat adults with community-acquired bacteria pneumonia. With the approval, Xenleta becomes the first IV and oral antibiotic with a novel mechanism of action approved by the FDA for CABP in almost two decades, Arce tells investors in a research note. The analyst believes Xenleta's IV to bio-equivalent oral formulation could enable physicians to seamlessly transition a patient's treatment from the in-patient setting to oral dosing that may be self-administered upon discharge.
09/10/19
NORL
09/10/19
NO CHANGE
NORL
Outperform
Northland sees peak global sales of Nabriva's Xenleta at $1B
Northland analyst Carl Byrnes told investors in a research note that oral and IV formulations of Nabriva Therapeutics' XENLETA are now commercially available in the U.S. through major specialty distributors and is also under review in the EU, with anticipated approval in 12-to-15 months. Byrnes forecasts peak global sales of XENLETA at $1B, supported by XENLETA's clinical differentiation and oral/IV dosing forms. The analyst has an Outperform rating on shares of Nabriva.
QURE uniQure
$46.73

1.065 (2.33%)

07/08/19
CANT
07/08/19
NO CHANGE
Target $94
CANT
Overweight
uniQure price target raised to $94 from $81 at Cantor Fitzgerald
Cantor Fitzgerald analyst Elemer Piros raised his price target for uniQure to $94 from $81 after the company over the weekend presented nine-month data from the Phase 2b trial of AMT-061 in hemophilia B. The analyst remains optimistic that uniQure has the "best-in-class" hemophilia B gene therapy product. Further, he thinks new interest could emerge from the company's pipeline beyond hemophilia B this year. Piros reiterates an Overweight rating on uniQure shares.
07/29/19
GUGG
07/29/19
DOWNGRADE
GUGG
Neutral
uniQure downgraded to Neutral from Buy at Guggenheim
07/30/19
GUGG
07/30/19
DOWNGRADE
GUGG
Neutral
Guggenheim downgrades uniQure with shares up 127% year-to-date
Guggenheim analyst Whitney Ijem downgraded uniQure to Neutral from Buy without a price target. The analyst continues to see value in the company's lead program AMT-061 for hemophilia B, earlier stage pipeline, and wholly owned manufacturing capability. However, with the shares up 127% year-to-date and a "relatively catalyst light" second half of 2019, Ijem prefers to step the sidelines.
09/03/19
HCWC
09/03/19
NO CHANGE
Target $73
HCWC
Buy
uniQure has significant first mover advantage in Hem B, says H.C. Wainwright
After uniQure (QURE) announced it has completed enrollment in the HOPE-B registration study, H.C. Wainwright analyst Debjit Chattopadhyay said he now anticipates a likely commercial launch during the fourth quarter of 2021, which is ahead of his prior expectation for launch in the second half of 2022. He sees AMT-061 with a 12+ month lead to be the first commercially viable gene therapy for Hemophilia B and contends the "first mover advantage is likely to be significant," especially if the product's safety profile, established manufacturing, clinical outcomes and clinical lead are compelling enough for Pfizer (PFE) to have second thoughts for its "potentially inferior me-too program" for SPK-9001. Chattopadhyay keeps a Buy rating and $73 price target on uniQure shares.
ORTX Orchard Therapeutics
$16.33

-0.57 (-3.37%)

08/29/19
OPCO
08/29/19
INITIATION
Target $26
OPCO
Outperform
Orchard Therapeutics initiated with an Outperform at Oppenheimer
Oppenheimer started Orchard Therapeutics with an Outperform rating and $26 price target.
08/30/19
OPCO
08/30/19
INITIATION
Target $26
OPCO
Outperform
Oppenheimer starts Orchard at Outperform, sees 'unique' opportunity
Oppenheimer analyst Esther Rajavelu last night initiated coverage of Orchard Therapeutics with an Outperform rating and $26 price target. Orchard represents a "unique" investment opportunity, as it may evolve into a fully integrated biopharmaceutical company focused on lentiviral vector-based gene therapies to treat rare diseases, Rajavelu tells investors in a research note. With six assets in the clinic, the analyst believes the could be entering a phase of rapid developmental milestones over the next 12 to 18 months.
08/30/19
08/30/19
INITIATION

Fly Intel: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Orchard Therapeutics (ORTX) initiated with an Outperform at Oppenheimer. 2. Zymeworks (ZYME) initiated with a Buy at Stifel. 3. Modine Manufacturing (MOD) initiated with a Neutral at DA Davidson. 4. AMTD International (HKIB) initiated with a Buy at Loop Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, Reference Link
09/05/19
LEHM
09/05/19
INITIATION
Target $21
LEHM
Overweight
Orchard Therapeutics initiated with an Overweight at Barclays
Barclays analyst Gena Wang started Orchard Therapeutics with an Overweight rating and $21 price target. The company's lentiviral gene therapy platform strategically targets genetic diseases that have validated approaches with hematopoietic stem cell transplant, Wang tells investors in a research note. She believes Orchard's three lead assets are "fairly de-risked" with high likelihood of regulatory approvals in 2020 and 2021. Multiple near- and mid-term catalysts make for a favorable risk/reward on the shares, says the analyst.

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18:17
Periodicals
Disney reaches TV carriage agreement with AT&T, Bloomberg says »

The deal includes ESPN on…

DIS

Disney

$132.18

-1.14 (-0.86%)

T

AT&T

$37.92

0.78 (2.10%)

03/08/13
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  • 23

    Oct

  • 24

    Oct

BA

Boeing

$379.33

-5.28 (-1.37%)

18:15
09/20/19
09/20
18:15
09/20/19
18:15
Periodicals
Icelandair reaches deal for Boeing to cover costs associated with 737, WSJ says »

Icelandair Group said it…

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  • 02

    Oct

MCF

Contango Oil & Gas

$1.71

-0.07 (-3.93%)

17:58
09/20/19
09/20
17:58
09/20/19
17:58
Hot Stocks
Karlin Asset Management reports 11.4% passive stake in Contango Oil & Gas »

Karlin Asset Management…

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GLD

SPDR Gold Shares

$142.97

1.68 (1.19%)

17:41
09/20/19
09/20
17:41
09/20/19
17:41
Hot Stocks
SPDR Gold Shares holdings rise to 894.15MT from 883.60MT »

This is the highest level…

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VXRT

Vaxart

$0.58

-0.0307 (-5.03%)

17:37
09/20/19
09/20
17:37
09/20/19
17:37
Syndicate
Vaxart files to sell 15.6M shares of common stock »

H.C. Wainwright acted as…

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AAPL

Apple

$217.69

-3.22 (-1.46%)

17:34
09/20/19
09/20
17:34
09/20/19
17:34
Periodicals
Apple given tariff exclusion on certain Mac Pro parts, Bloomberg says »

Apple has received U.S.…

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IIVI

II-VI

$39.05

-0.5 (-1.26%)

, CPE

Callon Petroleum

$4.53

-0.015 (-0.33%)

17:31
09/20/19
09/20
17:31
09/20/19
17:31
Hot Stocks
II-VI to enter S&P 400; Callon Petroleum, PriceSmart to enter S&P SmallCap600 »

S&P SmallCap 600…

IIVI

II-VI

$39.05

-0.5 (-1.26%)

CPE

Callon Petroleum

$4.53

-0.015 (-0.33%)

PSMT

PriceSmart

$60.29

-0.39 (-0.64%)

FNSR

Finisar

$24.31

1.25 (5.42%)

03/08/13
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  • 23

    Sep

  • 24

    Sep

  • 02

    Oct

  • 30

    Oct

NVR

NVR

$3,632.55

-30.45 (-0.83%)

, JEF

Jefferies Financial Group

$19.47

-0.19 (-0.97%)

17:26
09/20/19
09/20
17:26
09/20/19
17:26
Hot Stocks
NVR to replace Jefferies Financial Group in the S&P 500 at open on September 26 »

NVR (NVR) will replace…

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%)

03/08/13
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  • 16

    Oct

NOC

Northrop Grumman

$368.25

-7.45 (-1.98%)

17:24
09/20/19
09/20
17:24
09/20/19
17:24
Hot Stocks
Northrop Grumman subsidiary awarded $1.12B Missile Defense Agency contract »

Orbital Sciences, or OSC,…

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PSMT

PriceSmart

$60.29

-0.39 (-0.64%)

, FNSR

Finisar

$24.31

1.25 (5.42%)

17:23
09/20/19
09/20
17:23
09/20/19
17:23
Hot Stocks
Breaking Hot Stocks news story on PriceSmart, Finisar »

PriceSmart to replace…

PSMT

PriceSmart

$60.29

-0.39 (-0.64%)

FNSR

Finisar

$24.31

1.25 (5.42%)

03/08/13
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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 »

II-VI to replace Callon…

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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03/08/13
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03/06/13
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  • 23

    Sep

  • 24

    Sep

  • 02

    Oct

NVR

NVR

$3,632.55

-30.45 (-0.83%)

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

NVR to replace Jefferies…

03/08/13
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03/08/13
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03/06/13
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NHYDY

Norsk Hydro

$0.00

(0.00%)

17:12
09/20/19
09/20
17:12
09/20/19
17:12
Hot Stocks
Norsk Hydro discloses federal court in Brazil lifts embargo on Alunortes »

The Federal Court in…

03/08/13
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RESN

Resonant

$3.05

0.02 (0.66%)

17:03
09/20/19
09/20
17:03
09/20/19
17:03
Conference/Events
Resonant participates in a conference call with Loop Capital »

Semiconductor Analysts…

03/08/13
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  • 01

    Oct

  • 12

    Nov

NINE

Nine Energy Services

$6.73

-0.33 (-4.67%)

17:02
09/20/19
09/20
17:02
09/20/19
17:02
Syndicate
Breaking Syndicate news story on Nine Energy Services »

Nine Energy Services…

03/08/13
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ATOM

Atomera

$3.70

0.17 (4.82%)

17:00
09/20/19
09/20
17:00
09/20/19
17:00
Conference/Events
Atomera participates in a conference call with Loop Capital »

Semiconductor Analysts…

03/08/13
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MPWR

Monolithic Power

$154.21

-2 (-1.28%)

16:50
09/20/19
09/20
16:50
09/20/19
16:50
Conference/Events
Monolithic Power participates in a conference call with Loop Capital »

Semiconductor Analysts…

03/08/13
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  • 02

    Oct

  • 03

    Oct

  • 04

    Oct

AAPL

Apple

$217.69

-3.22 (-1.46%)

16:45
09/20/19
09/20
16:45
09/20/19
16:45
Periodicals
Breaking Periodicals news story on Apple »

Apple given tariff…

03/08/13
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IDA

IDACORP

$111.26

0.93 (0.84%)

16:36
09/20/19
09/20
16:36
09/20/19
16:36
Hot Stocks
IDACORP raises quarterly dividend to 67c from 63c per share »

The company states:…

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  • 10

    Nov

MO

Altria Group

$40.80

0.69 (1.72%)

16:33
09/20/19
09/20
16:33
09/20/19
16:33
Hot Stocks
Altria Group recommends rejection of amended mini-tender by TRC »

Altria Group states it…

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EADSY

Airbus

$0.00

(0.00%)

, AL

Air Lease

$42.68

-0.615 (-1.42%)

16:32
09/20/19
09/20
16:32
09/20/19
16:32
Hot Stocks
Air Lease announces delivery of new A321-200neo to Air Astana »

Air Lease Corporation…

EADSY

Airbus

$0.00

(0.00%)

AL

Air Lease

$42.68

-0.615 (-1.42%)

03/08/13
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03/06/13
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03/06/13
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  • 13

    Nov

16:30
09/20/19
09/20
16:30
09/20/19
16:30
Options
Preliminary option volume of 23.5M today »

Preliminary option volume…

PSX

Phillips 66

$103.26

0.14 (0.14%)

16:28
09/20/19
09/20
16:28
09/20/19
16:28
Periodicals
Phillips 66 says Beaumont oil terminal ops still shut down, Reuters says »

Phillips 66 said that…

03/08/13
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03/08/13
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  • 25

    Oct

POST

Post Holdings

$105.73

0.335 (0.32%)

16:24
09/20/19
09/20
16:24
09/20/19
16:24
Hot Stocks
Post files IPO for active nutrition unit BellRing Brands »

Post Holdings, Inc.…

03/08/13
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03/06/13
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03/06/13
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