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AMGN

Amgen

$220.84

2.29 (1.05%)

, CELG

Celgene

$110.02

-0.01 (-0.01%)

16:57
11/15/19
11/15
16:57
11/15/19
16:57

Bristol-Myers gets FTC clearance for Celgene acquisition

Bristol-Myers Squibb Company (BMY) announced that the U.S. Federal Trade Commission has accepted the proposed consent order in connection with the pending merger of Bristol-Myers Squibb and Celgene Corporation (CELG), thereby permitting the parties to close the transaction. As announced on August 26, 2019, Celgene entered into an agreement with Amgen (AMGN) under which Amgen would acquire the global rights to OTEZLA. Bristol-Myers Squibb previously announced the decision to divest OTEZLA in connection with the ongoing regulatory approval process for Bristol-Myers Squibb's pending merger with Celgene. Bristol-Myers Squibb has now satisfied all regulatory requirements under the merger agreement to complete the acquisition of Celgene and expects to close the transaction on November 20, 2019. Bristol-Myers Squibb also expects the OTEZLA divestiture to be completed promptly following the closing of the merger.

AMGN

Amgen

$220.84

2.29 (1.05%)

CELG

Celgene

$110.02

-0.01 (-0.01%)

BMY

Bristol-Myers

$58.61

0.11 (0.19%)

  • 18

    Nov

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    Dec

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    Dec

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    Mar

  • 04

    Apr

AMGN Amgen
$220.84

2.29 (1.05%)

11/05/19
11/05/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Facebook (FB) upgraded to Buy from Outperform at Daiwa with analyst Satoshi Tanaka saying the company's Q3 results and 2020 outlook last week go a "long way to alleviate concerns." 2. Beyond Meat (BYND) upgraded to Outperform from Market Perform at Bernstein with analyst Alexia Howard saying she is making a "straightforward valuation call" with the shares down 66% from their peak. 3. NXP Semiconductors (NXPI) upgraded to Buy from Neutral at Mizuho with analyst Vijay Rakesh saying the company's auto segment is showing signs of recovery, with easier compares and content wins. 4. Amgen (AMGN) upgraded to Overweight from Neutral at Cantor Fitzgerald with analyst Alethia Young saying recent events have set the stage for a "clean base business and pipeline story" for Amgen in 2020. 5. Autoliv (ALV) upgraded to Buy from Neutral at Mizuho with analyst Vijay Rakesh saying an improving 2020-2021 auto outlook with easier compares, continued airbag market share gains versus Takata, and lower product launch costs position Autoliv well. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/12/19
RHCO
11/12/19
INITIATION
Target $256
RHCO
Buy
Amgen initiated with a Buy at SunTrust
SunTrust analyst Robyn Karnauskas initiated coverage of Amgen with a Buy rating and $256 price target. The analyst expects the company's growth rate to recover thanks to its biosimilars business, its ability to develop mid-cycle products, and its interest in the Chinese drug market.
11/12/19
11/12/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Arlo Technologies (ARLO) resumed with a Buy at Deutsche Bank. 2. Clarivate Analytics (CCC) initiated with a Hold at Stifel. 3. Stoke Therapeutics (STOK) initiated with a Buy at BTIG. 4. BioMarin (BMRN), Biogen (BIIB), and Amgen (AMGN) were initiated with a Buy at SunTrust. 5. Corteva (CTVA) initiated with a Buy at Redburn. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/13/19
COWN
11/13/19
NO CHANGE
Target $225
COWN
Outperform
BeiGene price target raised to $225 from $170 at Cowen
Cowen analyst Yaron Werber raised his price target on BeiGene (BGNE) to $225 from $170 following Q3 results. the report was light due to supply issues for Abraxane, which should reverse in Q4. The analyst said the recent deal with Amgen (AMGN) removes any financing needs, provides a steady pipeline, and provides for 3 new launches in China in 2020 and 2021. Werber reiterated his Outperform rating on BeiGene shares.
CELG Celgene
$110.02

-0.01 (-0.01%)

11/01/19
STPT
11/01/19
DOWNGRADE
STPT
Hold
Celgene downgraded to Hold from Buy at Standpoint Research
Standpoint Research analyst Ronnie Moas downgraded Celgene to Hold from Buy.
09/23/19
GUGG
09/23/19
UPGRADE
Target $55
GUGG
Buy
Agios Pharmaceuticals upgraded to Buy following selloff at Guggenheim
Guggenheim analyst Michael Schmidt upgraded Agios Pharmaceuticals (AGIO) to Buy from Neutral following a 20% year-to-date selloff in the shares, stating that the current valuation reflects no value beyond Tibsovo and Idhifa. Even with more conservative estimates, he believes Tibsovo alone is worth $35 per share and Idhifa royalties from Celgene (CELG) are worth $4, giving the stock a one-year "floor valuation" of $39 per share. Meanwhile, feedback from doctors highlights a moderate but "real" commercial opportunity in PKD for Mitapivat, said Schmidt, who set a $55 price target on Agios shares.
11/01/19
BARD
11/01/19
DOWNGRADE
Target $101
BARD
Neutral
Celgene downgraded d to Neutral from Outperform at Baird
Baird analyst Brian Skorney downgraded d to Neutral from Outperform with a $101 price target.
11/01/19
BARD
11/01/19
DOWNGRADE
Target $101
BARD
Neutral
Celgene downgraded to Neutral at Baird
As reported previously, Baird analyst Brian Skorney downgraded Celgene to Neutral from Outperform. The analyst cited its recent upward move and doesn't see any reason for holding the shares ahead of ASH where any hair out the TRANSCEND data could put the entire CVR at risk. Skorney maintained his $101 price target on Celgene shares.
BMY Bristol-Myers
$58.61

0.11 (0.19%)

11/07/19
PIPR
11/07/19
NO CHANGE
Target $35
PIPR
Overweight
Nektar price target lowered to $35 from $50 at Piper Jaffray
Piper Jaffray analyst Tyler Van Buren lowered his price target for Nektar Therapeutics (NKTR) to $35 from $50 citing trial timeline delays following the company's Q3 results. The analyst, however, keeps an Overweight rating on the shares. Three of six planned registrational trials are ongoing with partner Bristol-Myers (BMY), and management on the call updated the timelines for topline readouts in these trials, which are delayed approximately a year, says Van Buren. He looks forward to the melanoma/PIVOT-02 cohort update at SITC this weekend and is "encouraged to see more of the pipeline advance into clinical development," saying Nektar continues to diversify beyond bempeg.
08/19/19
MZHO
08/19/19
DOWNGRADE
MZHO
Neutral
Amgen, Celgene downgraded to Neutral on valuation at Mizuho
As previously reported, Mizuho analyst Salim Syed downgraded Amgen (AMGN) and Celgene (CELG), each to Neutral from Buy, "solely" on the stock's current trading prices nearing what the analyst views as appropriate valuations. Amgen has run up over the last week by about 10% following a "very clean Enbrel litigation win," but the stock price now gives full credit for its Enbrel IP, said Syed, who raised his price target on Amgen shares to $212 from $208. He also cut his price target on Celgene shares to $100 from $103, based on a calculation of one Bristol-Myers (BMY) share being worth $47, plus $50 cash per share and $3 for a risk-adjusted CVR valuation.
10/16/19
BOFA
10/16/19
INITIATION
Target $60
BOFA
Buy
Bristol-Myers reinstated with a Buy at BofA/Merrill
BofA/Merrill analyst Geoff Meacham reinstated coverage of Bristol-Myers with a Buy rating and $60 price target. The analyst said overall he is bullish on the combined company, citing "several higher-impact catalysts on the horizon" that could result in a re-rating the stock.
08/27/19
RBCM
08/27/19
NO CHANGE
Target $206
RBCM
Sector Perform
Amgen price target raised to $206 from $192 at RBC Capital
RBC Capital analyst Kennen MacKay raised his price target on Amgen to $206, saying that despite the "sticker shock" of its $13.4B deal for the Otezla franchise, the transaction is expected to be immediately accretive to earnings and fitting well with its existing inflammation and immunology portfolio. The analyst believes that Amgen should be able to grow revenue "majorly" over the next 3 years as it leverages Otezla potential with its legal victory on Enbrel, stating that there is a case for its multiple to re-rate higher. MacKay keeps his Sector Perform rating on Amgen shares as he awaits for its emerging pipeline to also "fill the shoes" of its maturing assets.

TODAY'S FREE FLY STORIES

GME

GameStop

$6.50

0.18 (2.85%)

05:33
12/11/19
12/11
05:33
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05:33
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GameStop analyst commentary  »

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  • 13

    Dec

SWAV

ShockWave Medical

$40.43

-0.08 (-0.20%)

05:29
12/11/19
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05:29
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ShockWave Medical analyst commentary  »

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GOL

Gol Linhas

$16.88

-0.83 (-4.69%)

, DAL

Delta Air Lines

$55.52

-0.27 (-0.48%)

05:26
12/11/19
12/11
05:26
12/11/19
05:26
Hot Stocks
Gol Linhas announces change in shareholding ownership »

GOL Linhas (GOL) hereby…

GOL

Gol Linhas

$16.88

-0.83 (-4.69%)

DAL

Delta Air Lines

$55.52

-0.27 (-0.48%)

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  • 12

    Dec

JOUT

Johnson Outdoors

$75.16

-2.36 (-3.04%)

05:25
12/11/19
12/11
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05:25
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Johnson Outdoors analyst commentary  »

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NFLX

Netflix

$293.21

-9.27 (-3.06%)

05:24
12/11/19
12/11
05:24
12/11/19
05:24
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Netflix analyst commentary  »

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AGIO

Agios Pharmaceuticals

$44.26

2.3 (5.48%)

05:20
12/11/19
12/11
05:20
12/11/19
05:20
Recommendations
Agios Pharmaceuticals analyst commentary  »

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XBIT

XBiotech

$18.80

-0.65 (-3.34%)

, JNJ

Johnson & Johnson

$139.97

-0.54 (-0.38%)

05:15
12/11/19
12/11
05:15
12/11/19
05:15
Recommendations
XBiotech, Johnson & Johnson analyst commentary  »

XBiotech price target…

XBIT

XBiotech

$18.80

-0.65 (-3.34%)

JNJ

Johnson & Johnson

$139.97

-0.54 (-0.38%)

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  • 22

    Jan

TALO

Talos Energy

$25.79

0.41 (1.62%)

05:14
12/11/19
12/11
05:14
12/11/19
05:14
Hot Stocks
Talos Energy announces acquisition of Gulf of Mexico portfolio »

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CCC

Clarivate Analytics

$16.90

-0.17 (-1.00%)

05:12
12/11/19
12/11
05:12
12/11/19
05:12
Initiation
Clarivate Analytics initiated  »

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CONN

Conn's

$13.60

-6.91 (-33.69%)

05:10
12/11/19
12/11
05:10
12/11/19
05:10
Downgrade
Conn's rating change  »

Conn's downgraded to…

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  • 11

    Dec

VALE

Vale

$12.30

-0.08 (-0.65%)

05:06
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05:06
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05:06
Upgrade
Vale rating change  »

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FTI

TechnipFMC

$19.09

0.24 (1.27%)

05:05
12/11/19
12/11
05:05
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05:05
Upgrade
TechnipFMC rating change  »

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WDGJF

John Wood Group

$0.00

(0.00%)

05:05
12/11/19
12/11
05:05
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05:05
Upgrade
John Wood Group rating change  »

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ES

Eversource

$80.98

0.24 (0.30%)

05:01
12/11/19
12/11
05:01
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05:01
Initiation
Eversource initiated  »

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  • 11

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AEE

Ameren

$74.58

0.6 (0.81%)

05:01
12/11/19
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05:01
Initiation
Ameren initiated  »

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GNMK

GenMark

$5.58

-0.04 (-0.71%)

05:00
12/11/19
12/11
05:00
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05:00
Downgrade
GenMark rating change  »

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XRAY

Dentsply Sirona

$57.40

0.08 (0.14%)

04:59
12/11/19
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04:59
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Dentsply Sirona rating change  »

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TCBI

Texas Capital

$61.90

-1.55 (-2.44%)

, IBTX

Independent Bank

$59.90

-1.74 (-2.82%)

04:56
12/11/19
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04:56
Upgrade
Texas Capital, Independent Bank rating change  »

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TCBI

Texas Capital

$61.90

-1.55 (-2.44%)

IBTX

Independent Bank

$59.90

-1.74 (-2.82%)

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04:55
12/11/19
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04:55
Conference/Events
William Blair insurance analyst to hold a luncheon meeting »

Insurance Analyst Adam…

QMCO

Quantum

$0.00

(0.00%)

04:55
12/11/19
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04:55
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04:55
Conference/Events
Quantum management to meet with B. Riley FBR »

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  • 11

    Dec

TCBK

TriCo Bancshares

$39.02

0.24 (0.62%)

04:55
12/11/19
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04:55
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04:55
Conference/Events
TriCo Bancshares management to meet with Sandler O'Neill »

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  • 11

    Dec

  • 11

    Dec

DMTK

DermTech

$12.90

-1.56 (-10.79%)

04:55
12/11/19
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04:55
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04:55
Conference/Events
DermTech management to meet with Lake Street »

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  • 11

    Dec

  • 12

    Dec

04:55
12/11/19
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04:55
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04:55
Conference/Events
Oppenheimer healthcare analysts to hold a KOL dinner meeting »

Analysts hold a Cardiac…

MIC

Macquarie Infrastructure

$42.82

-0.02 (-0.05%)

04:55
12/11/19
12/11
04:55
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04:55
Conference/Events
Macquarie Infrastructure management to meet with Suntrust »

Group Dinner with…

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  • 11

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04:55
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BTIG oil and tanker analysts to hold a roundtable »

Oil Flow & Tanker…

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