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CLVS

Clovis

$3.83

-0.16 (-4.01%)

, AZN

AstraZeneca

$44.73

-0.56 (-1.24%)

15:36
09/30/19
09/30
15:36
09/30/19
15:36

Competitor PARP data an incremental negative for Clovis, says JPMorgan

JPMorgan analyst Cory Kasimov said he views the Phase 3 data presented by AstraZeneca (AZN) and Merck (MRK) on their PARP inhibitor Lynparza in previously treated prostate cancer as incrementally negative to Clovis (CLVS), which has "a lot riding on the prostate indication" since its Rubraca is "neck-and-neck with the competition to be first to market." While there wasn't anything bad reported at the ESMO meeting from Clovis' own prostate update, AstraZeneca "looks primed to come to market with a much more robust data set" and Clovis may "be playing catch-up" in another cancer indication, said Kasimov, who keeps a Neutral rating on Clovis shares.

CLVS

Clovis

$3.83

-0.16 (-4.01%)

AZN

AstraZeneca

$44.73

-0.56 (-1.24%)

MRK

Merck

$84.38

1.46 (1.76%)

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    Oct

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    Oct

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    Oct

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    Oct

  • 14

    Mar

CLVS Clovis
$3.83

-0.16 (-4.01%)

09/24/19
09/24/19
DOWNGRADE
Target $10

Market Perform
Clovis downgraded to Market Perform following in-licensing deal at SVB Leerink
As previously reported, SVB Leerink analyst Andrew Berens downgraded Clovis to Market Perform from Outperform on the heels of the company's announcement of an in-licensing deal, which he finds ill-timed given investor concerns about its use of cash and solvency amidst an increasing mountain of convertible debt. While the deal to in-license a radiotherapy for about $12M up front does not seem exorbitant and could eventually add fundamental value, it burdens Clovis with development expenses and milestones at a time when equity investors are increasingly concerned that the company is not aligned with their best interests, he adds. Berens also lowered his price target on the shares to $10 from $22.
09/24/19
LEER
09/24/19
DOWNGRADE
LEER
Market Perform
Clovis downgraded to Market Perform from Outperform at SVB Leerink
08/02/19
GUGG
08/02/19
DOWNGRADE
GUGG
Neutral
Clovis downgraded to Neutral on Rubraca sales growth struglles at Guggenheim
As previously reported, Guggenheim analyst Michael Schmidt downgraded Clovis to Neutral from Buy as the company continues to struggle to meaningfully grow Rubraca sales in its approved indication, which is a situation he doesn't believe will improve in the near-term as competitor drugs gain more traction. While Clovis is working toward expanding Rubraca use to other types of cancer, most of these trials won't complete until 2020 and 2021, said Schmidt, who removed his prior $35 price target on the stock.
08/13/19
BOFA
08/13/19
DOWNGRADE
Target $7
BOFA
Neutral
Clovis downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill Tazeen Ahmad downgraded Clovis (CLVS) to Neutral and lowered his price target to $7 from $13 after last week's release of positive topline results for its PARP inhibitor Lynparza to treat prostate cancer by the company's competitor AstraZeneca (AZN). The analyst notes that the Lynparza update alters his expectations in the prostate cancer market to assume a two-player landscape from day one, reducing his expectations for Clovis's Rubraca peak sales to $250M from $406M with peak U.S. BRCA penetration of 15%.
AZN AstraZeneca
$44.73

-0.56 (-1.24%)

09/03/19
09/03/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Boston Beer (SAM) downgraded to Underperform from Hold at Jefferies with analyst Kevin Grundy saying his consumer survey and web scrapes point to the potential for greater competitive intensity in the "rapidly growing" spiked seltzer category. He views Boston Beer's valuation as "stretched" given its competitive risk in hard seltzers. 2. Spirit Airlines (SAVE) downgraded to Outperform from Strong Buy at Raymond James with analyst Savanthi Syth now expecting a delay in the inflection of sentiment to early 2020. 3. AstraZeneca (AZN) downgraded to Sell from Hold at DZ Bank. 4. Heico (HEI) downgraded to Sell from Neutral at UBS with analyst Louis Raffetto citing valuation. 5. Hilton (HLT) downgraded to Neutral from Outperform at Macquarie with analyst Chad Beynon saying he believes the stock's current valuation with near-peak EBITDA multiples prices in the positives while the company faces a lack of catalysts. 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
ARGS
08/14/19
NO CHANGE
Target $50
ARGS
Buy
AstraZeneca price target raised to $50 from $46 at Argus
Argus analyst John Eade raised his price target on AstraZeneca to $50 and kept his Buy rating, saying the stock has outperformed over the past quarter thanks to the pipeline developments that are returning the company to growth. The analyst notes that the company's future growth should be driven by its checkpoint inhibitor Imfinzi, and he sees the program tracking toward a billion-dollar blockbuster status from $338M reported in Q2. Eade further notes that AstraZeneca management has made efforts to address the ongoing pricing pressure and generic threats to its former blockbusters Nexium and Crestor by reducing costs and assembling a new drug pipeline.
09/03/19
DZBN
09/03/19
DOWNGRADE
DZBN
Sell
AstraZeneca downgraded to Sell from Hold at DZ Bank
DZ Bank analyst Elmar Kraus downgraded AstraZeneca to Sell from Hold with a price target of 66 pounds.
MRK Merck
$84.38

1.46 (1.76%)

09/30/19
GUGG
09/30/19
INITIATION
Target $12
GUGG
Buy
Guggenheim starts Bellus Health at Buy with $12 price target
As previously reported, Guggenheim analyst Dana Flanders initiated Bellus Health (BLU) with a Buy rating and $12 price target. BLU-5937 for refractory chronic cough is the primary value driver in "a potential multi-billion dollar category," said Flanders, who also sees the opportunity for label expansion and the potential for M&A interest in Bellus. Merck (MRK) acquired Afferent, which also has a P2X3 antagonist asset called gefapixant, in 2016 for $500M upfront and up to $1.25B with milestones, noted Flanders.
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.
09/18/19
RHCO
09/18/19
NO CHANGE
Target $14
RHCO
Hold
Lannett price target raised to $14 from $10 at SunTrust
SunTrust analyst Gregg Gilbert raised his price target on Lannett (LCI) to $14, adjusting his model to reflect its potentially significant opportunity with the recent launch of posaconazole - a generic version of Merck's (MRK) Noxafil. The analyst notes that he now models sales and EBITDA at the higher end of the company's FY20 targets while also raising his FY20 EPS view by 19c to $1.33. Gilbert still keeps his Hold rating on the stock, citing the uncertainty around Lannett's capital structure and limited pipeline visibility as well as the challenging environment for generics.

TODAY'S FREE FLY STORIES

OOMA

Ooma

$11.18

-0.01 (-0.09%)

, IIIV

i3 Verticals

$22.29

-0.52 (-2.28%)

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1.36 (3.80%)

SPLK

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GPS

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ROST

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1.39 (1.26%)

PSTG

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ENTA

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INTU

Intuit

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-3.38 (-1.24%)

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    Mar

AES

AES Corp.

$18.50

-0.115 (-0.62%)

19:08
11/21/19
11/21
19:08
11/21/19
19:08
Earnings
AES backs FY19 adjusted EPS view $1.30-$1.38, consensus $1.33 »

The company also…

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  • 04

    Dec

WM

Waste Management

$111.23

-1.305 (-1.16%)

, RSG

Republic Services

$86.78

-0.91 (-1.04%)

19:07
11/21/19
11/21
19:07
11/21/19
19:07
Initiation
Waste Management, Republic Services, Waste Connections, Clean Harbors, Stericycle, Casella Waste, Covanta initiated  »

Jefferies initiates…

WM

Waste Management

$111.23

-1.305 (-1.16%)

RSG

Republic Services

$86.78

-0.91 (-1.04%)

WCN

Waste Connections

$89.54

-0.28 (-0.31%)

CLH

Clean Harbors

$84.70

-0.75 (-0.88%)

SRCL

Stericycle

$62.49

0.76 (1.23%)

CWST

Casella Waste

$43.70

-0.39 (-0.88%)

CVA

Covanta

$14.43

-0.14 (-0.96%)

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AES

AES Corp.

$18.50

-0.115 (-0.62%)

19:07
11/21/19
11/21
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11/21/19
19:07
Hot Stocks
AES Corp. says PUCO has modified DP&L rates »

The AES Corporation…

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  • 04

    Dec

ICE

IntercontinentalExchange

$93.89

-0.58 (-0.61%)

, BTC

Bitcoin

$0.00

(0.00%)

19:02
11/21/19
11/21
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11/21/19
19:02
Hot Stocks
ICE announces launch of Bakkt Bitcoin Cash Settled Monthly Futures contract »

Intercontinental Exchange…

ICE

IntercontinentalExchange

$93.89

-0.58 (-0.61%)

BTC

Bitcoin

$0.00

(0.00%)

BITCOIN

Bitcoin

$0.00

(0.00%)

03/08/13
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MAN

ManpowerGroup

$92.05

-0.355 (-0.38%)

18:51
11/21/19
11/21
18:51
11/21/19
18:51
Initiation
ManpowerGroup initiated  »

ManpowerGroup initiated…

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RHI

Robert Half

$58.01

-0.38 (-0.65%)

18:48
11/21/19
11/21
18:48
11/21/19
18:48
Initiation
Robert Half initiated  »

Robert Half initiated…

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HTZ

Hertz

$15.37

0.265 (1.76%)

18:46
11/21/19
11/21
18:46
11/21/19
18:46
Initiation
Hertz initiated  »

Hertz initiated with a…

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CAR

Avis Budget

$28.71

0.16 (0.56%)

18:44
11/21/19
11/21
18:44
11/21/19
18:44
Initiation
Avis Budget initiated  »

Avis Budget initiated…

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AMD

AMD

$39.52

-1.45 (-3.54%)

18:42
11/21/19
11/21
18:42
11/21/19
18:42
Hot Stocks
AMD CEO: The key for us is product generation »

In an interview on…

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CTAS

Cintas

$253.61

-5.78 (-2.23%)

, BFAM

Bright Horizons

$148.62

-3.92 (-2.57%)

18:42
11/21/19
11/21
18:42
11/21/19
18:42
Initiation
Cintas, Bright Horizons, Aramark, H&R Block, BrightView, Rollins, ServiceMaster initiated  »

Jefferies initiates…

CTAS

Cintas

$253.61

-5.78 (-2.23%)

BFAM

Bright Horizons

$148.62

-3.92 (-2.57%)

ARMK

Aramark

$42.42

-1.37 (-3.13%)

HRB

H&R Block

$24.34

-0.15 (-0.61%)

BV

BrightView

$16.79

-2.525 (-13.08%)

ROL

Rollins

$35.77

-0.8 (-2.19%)

SERV

ServiceMaster

$36.16

-0.42 (-1.15%)

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  • 21

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PINE

Alpine Income Properties

$0.00

(0.00%)

18:34
11/21/19
11/21
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18:34
Syndicate
Alpine Income Properties 7.5M share IPO priced at $19.00 »

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  • 22

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OTTW

Ottawa Bancorp

$13.39

-0.39 (-2.83%)

18:28
11/21/19
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18:28
Hot Stocks
Ottawa Bancorp approves stock buyback of 317,307 shares »

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MSFT

Microsoft

$149.46

-0.14 (-0.09%)

18:27
11/21/19
11/21
18:27
11/21/19
18:27
Periodicals
Microsoft says granted U.S. license to do business with Huawei, Bloomberg says »

Microsoft said it has…

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  • 02

    Dec

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SITC

Site Centers

$14.28

-0.275 (-1.89%)

18:24
11/21/19
11/21
18:24
11/21/19
18:24
Upgrade
Site Centers rating change  »

Site Centers upgraded to…

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UAL

United Airlines

$90.96

-0.72 (-0.79%)

, BA

Boeing

$366.47

-4.275 (-1.15%)

18:23
11/21/19
11/21
18:23
11/21/19
18:23
Hot Stocks
United Airlines CEO: We don't think we are near a recession »

In an interview on…

UAL

United Airlines

$90.96

-0.72 (-0.79%)

BA

Boeing

$366.47

-4.275 (-1.15%)

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  • 03

    Dec

FAST

Fastenal

$35.15

-0.1 (-0.28%)

, GWW

Grainger

$312.66

0.305 (0.10%)

18:20
11/21/19
11/21
18:20
11/21/19
18:20
Initiation
Fastenal, Grainger, HD Supply, MSC Industrial, Wesco initiated  »

Jefferies initiates…

FAST

Fastenal

$35.15

-0.1 (-0.28%)

GWW

Grainger

$312.66

0.305 (0.10%)

HDS

HD Supply

$39.10

-0.21 (-0.53%)

MSM

MSC Industrial

$73.66

-0.125 (-0.17%)

WCC

Wesco

$53.09

-0.02 (-0.04%)

03/08/13
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  • 10

    Dec

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SPGI

S&P Global

$264.34

-3.6 (-1.34%)

, INFO

IHS Markit

$71.62

-0.38 (-0.53%)

18:06
11/21/19
11/21
18:06
11/21/19
18:06
Initiation
S&P Global, IHS Markit, Verisk Analytics, Gartner, FactSet, Equifax, TransUnion, CoStar Group initiated  »

Jefferies initiates…

SPGI

S&P Global

$264.34

-3.6 (-1.34%)

INFO

IHS Markit

$71.62

-0.38 (-0.53%)

VRSK

Verisk Analytics

$144.45

0.12 (0.08%)

IT

Gartner

$158.00

0.06 (0.04%)

FDS

FactSet

$258.20

-3.65 (-1.39%)

EFX

Equifax

$137.97

-1.15 (-0.83%)

TRU

TransUnion

$84.90

-1.34 (-1.55%)

CSGP

CoStar Group

$587.66

-7.45 (-1.25%)

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  • 02

    Dec

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  • 19

    Dec

  • 07

    Jan

GPS

Gap

$16.22

-0.05 (-0.31%)

17:59
11/21/19
11/21
17:59
11/21/19
17:59
Periodicals
Gap to pull Old Navy brand from China in early 2020, Reuters reports »

Gap said it does not…

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  • 21

    Nov

  • 05

    Dec

LB

L Brands

$17.18

1.78 (11.56%)

17:50
11/21/19
11/21
17:50
11/21/19
17:50
Hot Stocks
L Brands cancels Victoria's Secret Fashion Show for 'more current platforms' »

The CFO of L Brands,…

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    Feb

WCC

Wesco

$53.09

-0.02 (-0.04%)

17:47
11/21/19
11/21
17:47
11/21/19
17:47
Initiation
Wesco initiated  »

Wesco initiated with a…

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MAN

ManpowerGroup

$92.05

-0.355 (-0.38%)

17:47
11/21/19
11/21
17:47
11/21/19
17:47
Initiation
ManpowerGroup initiated  »

ManpowerGroup initiated…

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HTZ

Hertz

$15.37

0.265 (1.76%)

17:46
11/21/19
11/21
17:46
11/21/19
17:46
Initiation
Hertz initiated at Jefferies »

Hertz initiated with a…

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

Rollins

$35.77

-0.8 (-2.19%)

17:46
11/21/19
11/21
17:46
11/21/19
17:46
Initiation
Rollins initiated at Jefferies »

Rollins initiated with a…

03/08/13
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03/06/13
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HRB

H&R Block

$24.34

-0.15 (-0.61%)

17:45
11/21/19
11/21
17:45
11/21/19
17:45
Initiation
H&R Block initiated at Jefferies »

H&R Block initiated…

03/08/13
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03/06/13
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03/06/13
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  • 04

    Dec

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