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TLRY

Tilray

$18.83

-1 (-5.04%)

11:05
12/02/19
12/02
11:05
12/02/19
11:05

Tilray call volume above normal and directionally bullish

Bullish option flow detected in Tilray with 12,470 calls trading, 2x expected, and implied vol increasing almost 5 points to 74.40%. Jan-20 17.5 calls and Dec-19 20 calls are the most active options, with total volume in those strikes near 3,600 contracts. The Put/Call Ratio is 0.13. Earnings are expected on March 16th.

TLRY Tilray
$18.83

-1 (-5.04%)

11/05/19
BOFA
11/05/19
NO CHANGE
BOFA
BofA says Mexico cannabis legalization 'still in play' in 2020 after extension
BofA Merrill Lynch analyst Christopher Carey noted that Mexico's Supreme Court has granted an extension until April 30, 2020 for Congress to legalize all forms of cannabis, writing in its decision that considering the complexity of the issue it grants the extension "exceptionally and for one time only." He views this as an important development for the industry since, in addition to opening a potentially large market, it will put even more pressure on U.S. federal action as the country will potentially "place the US between 2 of only 3 countries in the world to have legalized cannabis for recreational use." 9% of Mexico's population of 131M is estimated to have consumed cannabis in 2018 and the legal market could be worth $1B by 2024, according to BDS Analytics, noted Carey. Publicly traded companies in the cannabis space include Aphria (APHA), Aurora Cannabis (ACB), CV Sciences (CVSI), CannTrust Holdings (CNTTF), Canopy Growth (CGC), Cronos Group (CRON), General Cannabis (CANN), India Globalization Capital (IGC), Tilray (TLRY) and Trulieve Cannabis (TCNNF).
11/13/19
BNCH
11/13/19
NO CHANGE
Target $40
BNCH
Buy
Tilray price target lowered to $40 from $80 at Benchmark
Benchmark analyst Mike Hickey halved his price target for Tilray shares to $40 from $80 after the company's "mixed" Q3 performance that included slightly better than consensus sales and profitability that "again disappointed." However, he notes that gross margins expanded again sequentially and noted that Tilray said it sees reaching adjusted EBITDA profitability in the fiscal fourth quarter of FY20, when the consensus is still calling for a loss. He remains cautious on the Canadian regulatory environment and expects on-going near term supply and distribution constraints, but keeps a Buy rating on Tilray shares.
11/14/19
MKMP
11/14/19
NO CHANGE
Target $26
MKMP
Neutral
Tilray price target lowered to $26 from $34 at MKM Partners
MKM Partners analyst Bill Kirk lowered his price target on Tilray to $26 and kept his Neutral rating after its mixed Q3 results, with revenue just above consensus and EBITDA missing expectations. The analyst notes that other companies in the cannabis space missed on both top line and profitability, stating that until these companies curtail spending or the pricing improves, near-term profitability for Tilray is also difficult to model. Kirk adds that lower price point products may be "the only way to compete" with the illicit market, but make achieving profitability even more difficult.
11/15/19
CANT
11/15/19
UPGRADE
CANT
Overweight
Cantor upgrades Aurora Cannabis to Overweight ahead of 2020 catalysts
Cantor Fitzgerald analyst Pablo Zuanic upgraded Aurora Cannabis to Overweight from Neutral with a price target of C$5.85, up from C$5.10. The analyst does not expect a worse quarter for the group than the September quarter. And even though little may change in the December quarter, positive catalysts align in 2020, Zuanic tells investors in a research note. Further, based on his read of the quarter for the group, he estimates Aurora is "overall in better shape than peers." The analyst highlights the company's "stable" pricing, "best-in-class" gross margins of 56%, which he notes are near three-times Tilray's (TLRY), and no signs of provisions for rebates and returns.

TODAY'S FREE FLY STORIES

PLMR

Palomar

20:27
12/08/19
12/08
20:27
12/08/19
20:27
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Palomar analyst commentary at Keefe Bruyette »

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03/08/13
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  • 10

    Dec

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    Dec

ASAZY

Assa Abloy

$0.00

(0.00%)

20:23
12/08/19
12/08
20:23
12/08/19
20:23
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Assa Abloy rating change at JPMorgan »

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RXEEY

Rexel

$0.00

(0.00%)

20:23
12/08/19
12/08
20:23
12/08/19
20:23
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Rexel rating change at JPMorgan »

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TATYY

Tate & Lyle

$0.00

(0.00%)

20:22
12/08/19
12/08
20:22
12/08/19
20:22
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Tate & Lyle rating change at Jefferies »

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AUO

AU Optronics

$0.00

(0.00%)

20:20
12/08/19
12/08
20:20
12/08/19
20:20
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AU Optronics rating change at Morgan Stanley »

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LPL

LG Display

$6.22

0.115 (1.89%)

20:17
12/08/19
12/08
20:17
12/08/19
20:17
Upgrade
LG Display rating change at Morgan Stanley »

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  • 09

    Dec

ETNB

89bio

$28.38

0.86 (3.13%)

20:16
12/08/19
12/08
20:16
12/08/19
20:16
Initiation
89bio initiated at Oppenheimer »

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ANIOY

Acerinox

$0.00

(0.00%)

20:15
12/08/19
12/08
20:15
12/08/19
20:15
Upgrade
Acerinox rating change at Jefferies »

Acerinox upgraded to Buy…

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

Blueprint Medicines

$78.50

3.92 (5.26%)

20:15
12/08/19
12/08
20:15
12/08/19
20:15
Conference/Events
Blueprint Medicines to hold an anlayst and investor event »

Management reviews the…

03/08/13
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  • 08

    Dec

  • 08

    Dec

TLSNY

Telia

$0.00

(0.00%)

20:14
12/08/19
12/08
20:14
12/08/19
20:14
Downgrade
Telia rating change at Jefferies »

Telia downgraded to Hold…

03/08/13
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03/08/13
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ARWR

Arrowhead

$67.25

1.705 (2.60%)

20:13
12/08/19
12/08
20:13
12/08/19
20:13
Recommendations
Arrowhead analyst commentary at Piper Jaffray »

Arrowhead price target…

03/08/13
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03/06/13
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ARGX

Argenx

$147.31

-2.56 (-1.71%)

20:08
12/08/19
12/08
20:08
12/08/19
20:08
Recommendations
Argenx analyst commentary at Stifel »

Argenx price target…

03/08/13
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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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  • 16

    Dec

STC

Stewart

$43.16

0.28 (0.65%)

19:56
12/08/19
12/08
19:56
12/08/19
19:56
Downgrade
Stewart rating change at Keefe Bruyette »

Stewart downgraded to…

03/08/13
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FAF

First American

$63.05

(0.00%)

19:55
12/08/19
12/08
19:55
12/08/19
19:55
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First American rating change at Keefe Bruyette »

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03/08/13
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03/06/13
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  • 13

    Feb

PFSI

PennyMac Financial

$33.91

0.12 (0.36%)

19:54
12/08/19
12/08
19:54
12/08/19
19:54
Downgrade
PennyMac Financial rating change at Keefe Bruyette »

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AGIO

Agios Pharmaceuticals

$40.93

0.81 (2.02%)

18:40
12/08/19
12/08
18:40
12/08/19
18:40
Recommendations
Agios Pharmaceuticals analyst commentary at Piper Jaffray »

Agios' initial…

03/08/13
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  • 09

    Dec

  • 13

    Dec

BPMC

Blueprint Medicines

$78.50

3.92 (5.26%)

18:34
12/08/19
12/08
18:34
12/08/19
18:34
Recommendations
Blueprint Medicines analyst commentary at Piper Jaffray »

Piper says 'jury…

03/08/13
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  • 08

    Dec

  • 08

    Dec

FATE

Fate Therapeutics

$13.64

0.07 (0.52%)

18:29
12/08/19
12/08
18:29
12/08/19
18:29
Recommendations
Fate Therapeutics analyst commentary at Piper Jaffray »

FT500 data validates Fate…

03/08/13
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RCKT

Rocket Pharmaceuticals

$22.37

2.61 (13.21%)

18:05
12/08/19
12/08
18:05
12/08/19
18:05
Hot Stocks
Rocket says Phase 1 trial establishes feasibility of commercial Process B for FA »

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  • 08

    Dec

  • 08

    Dec

ARGX

Argenx

$147.31

-2.56 (-1.71%)

, JNJ

Johnson & Johnson

$140.36

0.79 (0.57%)

18:03
12/08/19
12/08
18:03
12/08/19
18:03
Recommendations
Argenx, Johnson & Johnson analyst commentary at Piper Jaffray »

Argenx data on…

ARGX

Argenx

$147.31

-2.56 (-1.71%)

JNJ

Johnson & Johnson

$140.36

0.79 (0.57%)

03/08/13
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03/08/13
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  • 08

    Dec

  • 09

    Dec

  • 16

    Dec

  • 21

    Jan

BLUE

Bluebird Bio

$79.51

-1.24 (-1.54%)

, JNJ

Johnson & Johnson

$140.36

0.79 (0.57%)

17:58
12/08/19
12/08
17:58
12/08/19
17:58
Recommendations
Bluebird Bio, Johnson & Johnson, Amgen, Bristol-Myers, Regeneron analyst commentary at Piper Jaffray »

Piper says…

BLUE

Bluebird Bio

$79.51

-1.24 (-1.54%)

JNJ

Johnson & Johnson

$140.36

0.79 (0.57%)

AMGN

Amgen

$233.74

0.3 (0.13%)

BMY

Bristol-Myers

$59.94

0.435 (0.73%)

REGN

Regeneron

$372.26

4.02 (1.09%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 08

    Dec

  • 08

    Dec

  • 09

    Dec

  • 11

    Dec

  • 21

    Jan

BGNE

BeiGene

$186.89

-2.3 (-1.22%)

17:50
12/08/19
12/08
17:50
12/08/19
17:50
Hot Stocks
BeiGene announces data from two clinical trials of Brukinsa at ASH meeting »

BeiGene announced…

03/08/13
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  • 09

    Dec

  • 27

    Feb

LLY

Eli Lilly

$119.59

-0.175 (-0.15%)

16:34
12/08/19
12/08
16:34
12/08/19
16:34
Hot Stocks
Eli Lilly presents interim clinical data from LOXO-305 dose escalation trial »

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  • 08

    Dec

  • 09

    Dec

  • 17

    Dec

  • 30

    Jan

BMY

Bristol-Myers

$59.94

0.435 (0.73%)

16:32
12/08/19
12/08
16:32
12/08/19
16:32
Hot Stocks
Bristol-Myers announces data from multiple liso-cel studies at ASH meeting »

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03/08/13
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  • 08

    Dec

  • 09

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  • 11

    Dec

QURE

uniQure

$66.06

1.5 (2.32%)

16:26
12/08/19
12/08
16:26
12/08/19
16:26
Hot Stocks
uniQure reports 1-year follow-up data from etranacogene dezaparvovec study »

uniQure announced updated…

03/08/13
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  • 09

    Dec

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