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ARVN

Arvinas

$21.36

-0.35 (-1.61%)

, BAYRY

Bayer

$0.00

(0.00%)

17:14
11/04/19
11/04
17:14
11/04/19
17:14

Arvinas reports Q3 EPS (54c), consensus (46c)

Reports Q3 revenue $30.05M, consensus $7.81M. Revenue for Q3 included $24.7M of revenue recognized from the Arvinas contribution of the license to the joint venture between Bayer (BAYRY) and Arvinas (ARVN) to pursue the Protac technology in agricultural applications. Based on its current operating plan, Arvinas expects its cash, cash equivalents, and marketable securities will be sufficient to fund its planned operating expenses and capital expenditure requirements into the second half of 2021.

ARVN

Arvinas

$21.36

-0.35 (-1.61%)

BAYRY

Bayer

$0.00

(0.00%)

  • 12

    Nov

  • 07

    Dec

ARVN Arvinas
$21.36

-0.35 (-1.61%)

09/24/19
WEDB
09/24/19
INITIATION
Target $38
WEDB
Outperform
Arvinas initiated with an Outperform at Wedbush
Wedbush analyst Robert Driscoll initiated Arvinas with an Outperform rating and $38 price target.
09/25/19
09/25/19
INITIATION
Target $38

Outperform
Wedbush bullish on Arvinas, initiates with an Outperform
As previously reported, Wedbush analyst Robert Driscoll started coverage of Arvinas with an Outperform rating and $38 price target. The analyst notes that the company is developing its potentially transformational PROTAC platform that he believes provides striking advantages over traditional therapeutic modalities such as small molecules and antibodies. Arvinas is initially targeting androgen receptor in prostate cancer and the estrogen receptor in ER-positive/HER2-negative breast cancer, with Driscoll seeing a high likelihood of success in these indications. Further, he believes the value of the PROTAC platform is underappreciated given the opportunity to apply this technology to previously undruggable targets.
10/24/19
GSCO
10/24/19
UPGRADE
Target $38
GSCO
Buy
Arvinas upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Terence Flynn upgraded Arvinas to Buy from Neutral with a price target of $38, up from $23, following the company's presentation of the first Phase 1 data for ARV-110 for prostate cancer and ARV-471 for breast cancer at a medical summit. He is encouraged by the clean safety profile as well as the pharmokinetic profiles of each drug, said Flynn, who thinks the data further advance the company's PROTAC protein degradation platform. He projects blockbuster potential for both ARV-110 and ARV-471, the analyst added.
10/24/19
10/24/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Applied Materials (AMAT) upgraded to Buy from Hold at Craig-Hallum with analyst Christian Schwab citing competitor Lam Research's (LRCX) "strong" results and raised outlook, as he now believes he was previously too conservative. 2. Oshkosh (OSK) upgraded to Outperform from Neutral at Baird with analyst Mircea Dobre saying recent machinery peer reports show that guidance cuts are starting to result in multiple expansion and the company is well positioned to manage Access volatility. 3. 8x8, Inc. (EGHT) upgraded to Neutral from Sell at B. Riley FBR with Josh Nichols saying he is stepping back to the sidelines ahead of the company's fiscal Q2 results on October 30, noting that the shares have been under pressure since the Q1 report at the end of July. 4. Arvinas (ARVN) upgraded to Buy from Neutral at Goldman Sachs with analyst Terence Flynn citing the company's presentation of the first Phase 1 data for ARV-110 for prostate cancer and ARV-471 for breast cancer at a medical summit. 5. Rogers Communications (RCI) upgraded to Outperform from Sector Perform at RBC Capital with analyst Drew McReynolds saying the sector pullback is overdone and also cites the 17% decline in Rogers stock price since the February high that has taken the enterprise value to expected forward-twelve-month EBITDA multiple down to 7.1-times vs. large-cap peer multiple of 7.5-times. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
BAYRY Bayer
$0.00

(0.00%)

07/10/19
WBLR
07/10/19
NO CHANGE
WBLR
Market Perform
Elanco combination with Bayer unlikely for many reasons, says William Blair
Shares of Elanco Animal Health (ELAN) have been unusually volatility over the past two days, William Blair analyst John Kreger tells investors in a research note. On Monday, the FDA approved a generic version of the company's largest product, Rumensin, and yesterday, the media reported speculation that Bayer (BAYRY) has approached Elanco about combining their animal health businesses, the analyst explains. He believes that while a negative development, the Rumensin generic had been expected and thus does not change his modeling assumptions. The Bayer speculation is more surprising but does not seem likely to happen "for a number of reasons," says Kreger. Elanco's largest challenge is bolstering its organic revenue growth, and buying a large company that is growing at a slower pace would only add to this challenge, according the analyst. Further, Elanco has committed to deleverage its balance sheet in the coming year, he adds. And lastly, Kreger believes there could be antitrust challenges from such a large combination. He keeps a Market Perform rating on Elanco shares.
08/15/19
UBSW
08/15/19
UPGRADE
Target $30
UBSW
Neutral
Elanco upgraded to Neutral from Sell at UBS
UBS analyst Navin Jacob upgraded Elanco Animal Health (ELAN) to Neutral from Sell with a price target of $30, down from $31. While the analyst still see risks to the company's fundamentals from African swine fever and generic Rumensin, he believes the shares are more fairly valued at current levels. Further, some of these headwinds may be offset by companion animal strength, Jacob tells investors in a research note. While concerns of a potential deal with Bayer (BAYRY) have pushed Elanco shares lower, "forecastable" concerns are built in at current levels, says the analyst.
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.
10/21/19
PIPR
10/21/19
NO CHANGE
Target $100
PIPR
Overweight
Piper reiterates Overweight on Crispr Therapeutics with $100 price target
Piper Jaffray analyst Edward Tenthoff reiterates an Overweight rating on Crispr Therapeutics (CRSP) with a $100 price target after the company announced the consolidation of the Casebia joint venture with Bayer (BAYRY). Casebia will now operate within Crispr to develop its hemophilia, ophthalmology and autoimmune programs, Tenthoff tells investors in a research note. The primary driver for shares remains first ever CTX001 data in beta thalassemia and sickle cell disease in December, says Tenthoff.

TODAY'S FREE FLY STORIES

MNK

Mallinckrodt

$3.40

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APTO

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EPZM

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Facebook

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$3.24

0.065 (2.05%)

MT

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NUE

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STLD

Steel Dynamics

$35.10

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TMST

TimkenSteel

$6.90

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$13.95

0.615 (4.61%)

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$20.60

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FATE

Fate Therapeutics

$13.64

0.07 (0.52%)

09:27
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  • 07

    Dec

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Conference/Events
JPMorgan enterprise software analyst to hold an analyst/industry conference call »

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CRVS

Corvus Pharmaceuticals

$4.26

-0.36 (-7.79%)

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KPTI

Karyopharm

$16.30

-1.15 (-6.59%)

09:21
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  • 07

    Dec

ABBV

AbbVie

$86.97

0.3 (0.35%)

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  • 07

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SRRA

Sierra Oncology

$0.49

0.1035 (27.13%)

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  • 07

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SGMO

Sangamo

$11.65

0.05 (0.43%)

, PFE

Pfizer

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XENE

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  • 07

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CLF

Cleveland-Cliffs

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M

Macy's

$15.15

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COF

Capital One

$101.39

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  • 26

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EXPE

Expedia

$107.58

1.9 (1.80%)

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  • 09

    Dec

DAR

Darling Ingredients

$24.05

0.39 (1.65%)

, CODI

Compass Diversified

$23.88

0.45 (1.92%)

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DAR

Darling Ingredients

$24.05

0.39 (1.65%)

CODI

Compass Diversified

$23.88

0.45 (1.92%)

QLYS

Qualys

$85.37

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LECO

Lincoln Electric

$92.52

0.69 (0.75%)

HASI

Hannon Armstrong

$29.50

0.24 (0.82%)

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  • 10

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CBMG

Cellular Biomedicine

$17.56

0.18 (1.04%)

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  • 07

    Dec

AXLA

Axcella

$3.63

-0.83 (-18.61%)

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AZN

AstraZeneca

$47.68

0.06 (0.13%)

08:04
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  • 07

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ABBV

AbbVie

$86.97

0.3 (0.35%)

08:01
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  • 07

    Dec

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