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AMGN

Amgen

$194.92

-0.48 (-0.25%)

07:33
09/30/19
09/30
07:33
09/30/19
07:33

Amgen colorectal cancer update 'underwhelming,' says JPMorgan

Amgen's updated AMG 510 KRAS data presented over the weekend did little to boost expectations for monotherapy treatment in colorectal cancer, JPMorgan analyst Cory Kasimov tells investors in a research note. Most of the early enthusiasm for the KRAS class is for lung cancer, and this is likely to remain the case for the time being, adds the analyst. He views Amgen's weekend update as "underwhelming" and keeps a Neutral rating on the shares. Kasimov thinks the colorectal cancer indication will ultimately require a combo approach.

AMGN Amgen
$194.92

-0.48 (-0.25%)

09/24/19
GUGG
09/24/19
UPGRADE
Target $116
GUGG
Buy
Mirati Therapeutics upgraded to Buy ahead of KRAS G12C data at Guggenheim
Guggenheim analyst Michael Schmidt upgraded Mirati Therapeutics (MRTX) to Buy from Neutral with a $116 price target ahead of Phase 1 data expected to be reported in Q4 on the company's KRAS G12C inhibitor, MRTX849. While it is still uncertain how Mirati's drug compares to others in the class, particularly most advanced competitor Amgen's (AMGN) AMG 510, Schmidt sees the risk/reward of owning Mirati shares as skewed to the upside following clinical updates provided by Amgen at a recent conference. Assuming MRTX849 has a comparable clinical profile compared to AMG 510, the company will have an opportunity to participate in a potential $6.4B global market for KRAS G12C inhibitors, Schmidt tells investors.
09/27/19
FBCO
09/27/19
NO CHANGE
Target $115
FBCO
Outperform
Mirati Therapeutics price target lowered to $115 from $120 at Credit Suisse
Credit Suisse analyst Evan Seigerman maintained an Outperform rating on Mirati Therapeutics (MRTX) and lowered his price target to $115 from $120 following the interim data update from the company's only clinical stage KRAS inhibitor competitor from Amgen (AMGN), AMG 510. In a research note to investors, Seigerman says he believes Amgen's AMG 510 is more than six months ahead of MRTX849 and sees potential for the first-mover to capture significant share given the high unmet need. The analyst remains positive on both programs, but is taking a conservative view as he awaits interim MRTX849 data.
09/29/19
PIPR
09/29/19
NO CHANGE
Target $218
PIPR
Overweight
Piper Jaffray remains bullish on Amgen after update on AMG 510
Piper Jaffray analyst Christopher Raymond reiterates an Overweight rating and a $218 price target on Amgen's shares after an update on AMG 510 at ESMO. As expected, no additional durability data were provided for mutant KRAS-G12C NSCLC patients, but initial responses and follow up from a more meaningful number of CRC patients were presented at the RP2D. While durability remains immature, the company believes the lack of improved responses in CRC supports further development of AMG 510 as a combo treatment in this patient population, he contends.
09/30/19
FBCO
09/30/19
NO CHANGE
Target $225
FBCO
Outperform
Credit Suisse still bullish on Amgen, sees possible weakness following ESMO data
Commenting on Amgen's updated data for AMG510 in colorectal and appendiceal cancers presented at ESMO, Credit Suisse analyst Evan Seigerman notes that the objective response rate was much lower than what he saw in non-small cell lung cancer at 3% in all patients and 8% in the highdose cohort. While there was a decent disease control rate, the analyst argues that it is clear that biologic differences between lung and CRC patients are driving significantly different clinical results. Given the divergence between the lung cohort and the CRC patients, Seigerman expects potential weakness in Amgen's shares. Nonetheless, the analyst remains positive on AMG 510 in NSCLC with potential for other combinations or monotherapy, and reiterates an Outperform rating and $225 price target on the stock.

TODAY'S FREE FLY STORIES

BA

Boeing

$362.38

-4.59 (-1.25%)

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IGT

International Game

$13.18

-0.31 (-2.30%)

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International Game call volume above normal and directionally bullish »

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TTD

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$223.58

6.47 (2.98%)

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Amazon.com

$1,785.43

13.73 (0.77%)

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AMZN

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13.73 (0.77%)

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LKFN

Lakeland Financial

$47.28

0.13 (0.28%)

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Lakeland Financial appoints Rick Donovan as General Counsel »

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11:01
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Conference/Events
Wedbush tech strategist to hold an analyst/industry conference call »

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RUN

Sunrun

$14.61

0.2 (1.39%)

10:55
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Options
Sunrun put volume heavy and directionally bearish »

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10:55
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Economic Club of New York to host President Trump »

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DOX

Amdocs

$67.14

0.12 (0.18%)

10:54
11/12/19
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10:54
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10:54
Conference/Events
Amdocs management to meet with JPMorgan »

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VRTX

Vertex

$203.56

1.66 (0.82%)

10:53
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Vertex confirms Northern Ireland offer accepted for cystic fibrosis medicines »

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  • 19

    Mar

ABBV

AbbVie

$87.46

1.82 (2.13%)

, AGN

Allergan

$182.96

2.92 (1.62%)

10:52
11/12/19
11/12
10:52
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10:52
Periodicals
AbbVie preps $27B bond sale to finance Allergan deal, FT reports »

AbbVie (ABBV) is readying…

ABBV

AbbVie

$87.46

1.82 (2.13%)

AGN

Allergan

$182.96

2.92 (1.62%)

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  • 07

    Dec

CMBM

Cambium Networks

$7.67

(0.00%)

10:51
11/12/19
11/12
10:51
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10:51
Conference/Events
Cambium Networks management to meet with JPMorgan »

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  • 13

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AER

AerCap

$61.01

0.72 (1.19%)

10:50
11/12/19
11/12
10:50
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10:50
Conference/Events
AerCap management to meet with JPMorgan »

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  • 13

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WBA

Walgreens Boots Alliance

$62.35

0.09 (0.14%)

10:46
11/12/19
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10:46
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10:46
Recommendations
Walgreens Boots Alliance analyst commentary  »

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  • 12

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  • 22

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QSR

Restaurant Brands

$67.39

-0.15 (-0.22%)

10:45
11/12/19
11/12
10:45
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10:45
Options
Restaurant Brands call volume above normal and directionally bullish »

Bullish option flow…

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10:45
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General news
Breaking General news story  »

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General news
Breaking General news story  »

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F

Ford

$9.11

0.03 (0.33%)

, GM

General Motors

$38.89

0.18 (0.46%)

10:38
11/12/19
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Periodicals
Trump expected to extend deadline for EU car tariffs, Bloomberg says »

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F

Ford

$9.11

0.03 (0.33%)

GM

General Motors

$38.89

0.18 (0.46%)

HMC

Honda

$29.35

0.15 (0.51%)

NSANY

Nissan

$0.00

(0.00%)

TM

Toyota

$145.00

-0.07 (-0.05%)

TSLA

Tesla

$348.78

3.71 (1.08%)

DDAIF

Daimler AG

$0.00

(0.00%)

FCAU

Fiat Chrysler

$16.21

0.1 (0.62%)

VWAGY

Volkswagen

$0.00

(0.00%)

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KSS

Kohl's

$56.48

-0.56 (-0.98%)

10:35
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Options
Kohl's put volume heavy and directionally bearish »

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  • 19

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10:35
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General news
FX Action: USD-JPY »

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DIS

Disney

$139.04

2.3 (1.68%)

10:31
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Disney says Disney+ 'exceeded our high expectations,' working on glitches »

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KHC

Kraft Heinz

$32.77

0.01 (0.03%)

10:25
11/12/19
11/12
10:25
11/12/19
10:25
Options
Kraft Heinz call volume above normal and directionally bullish »

Bullish option flow…

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RHHBY

Roche

$0.00

(0.00%)

10:25
11/12/19
11/12
10:25
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10:25
Conference/Events
Roche to hold a conference call »

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  • 12

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  • 07

    Dec

REPL

Replimune Group

$17.24

0.11 (0.64%)

10:25
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10:25
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10:25
Conference/Events
Replimune Group participates in a conference call with JPMorgan »

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  • 12

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10:25
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Conference/Events
UBS technology analysts to hold an analyst/industry conference call »

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LH

LabCorp

$165.45

-0.29 (-0.17%)

10:23
11/12/19
11/12
10:23
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10:23
Syndicate
Breaking Syndicate news story on LabCorp »

LabCorp files automatic…

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