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AMGN

Amgen

$233.74

0.3 (0.13%)

, BGNE

BeiGene

$186.89

-2.3 (-1.22%)

07:47
12/09/19
12/09
07:47
12/09/19
07:47

Amgen price target raised to $265 from $240 at Argus

Argus analyst David Toung raised his price target on Amgen (AMGN) to $265 and kept his Buy rating, noting that while the company is facing competition from biosimilars and generics, he is positive on the potential of its newer drugs, its pipeline products, and its expanded reimbursement coverage in overseas markets. The analyst further cites Amgen's recent strategic partnership with BeiGene (BGNE), expanding its oncology presence in China.

AMGN

Amgen

$233.74

0.3 (0.13%)

BGNE

BeiGene

$186.89

-2.3 (-1.22%)

  • 09

    Dec

  • 27

    Feb

AMGN Amgen
$233.74

0.3 (0.13%)

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.
12/08/19
PIPR
12/08/19
NO CHANGE
PIPR
Piper says Bluebird's bb2121 'clearly approvable,' but competition heating up
Piper Jaffray analyst Tyler Van Buren said the topline results presented by Bluebird Bio (BLUE) at ASH from the KarMMa trial are "impressive in these very sick patients" and he believes that the drug is "clearly approvable." However, he also said that the JNJ-4528 Legend data presented by Johnson & Johnson's (JNJ) Janssen "appears very competitive," adding that "we would be remiss if we didn't mention the continued deluge of anti-BCMA antibody data" from competitors including Amgen (AMGN), Bristol-Myers (BMY) and Regeneron (REGN). Van Buren keeps a Neutral rating on Bluebird Bio shares, citing valuation as well as his view on long-term competitive pressures.
BGNE BeiGene
$186.89

-2.3 (-1.22%)

11/15/19
PIPR
11/15/19
NO CHANGE
Target $230
PIPR
Overweight
BeiGene price target raised to $230 from $200 at Piper Jaffray
Piper Jaffray analyst Tyler Van Buren raised his price target for BeiGene to $230 from $200 following the earlier than expected Brukinsa approval. The analyst accelerated the Brukinsa launch by a quarter with it expected to occur in the coming weeks. He views the label as clean in terms of safety and consistent with the clinical data that has been reported. The "incredibly fast" approval is an indication that the FDA considers BeiGene's global clinical program to be of high quality, Van Buren tells investors in a research note. He believes mantle cell lymphoma represents a ~$1B U.S. opportunity and reiterates an Overweight rating on BeiGene shares.
11/15/19
GUGG
11/15/19
NO CHANGE
Target $228
GUGG
Buy
BeiGene price target raised to $228 from $205 at Guggenheim
Guggenheim analyst Michael Schmidt raised his price target for BeiGene (BGNE) to $228 from $205 saying FDA approval of Brukinsa over three months ahead of the action date provides additional validation of the company's strategy and ability to execute. He thinks Brukinsa's label in mantle cell lymphoma indicates a "potentially best-in-class" product profile with "nuanced differences" compared to AstraZeneca's (AZN) Calquence and "significantly better" than AbbVie's (ABBV) Imbruvica. The analyst maintains a Buy rating on BeiGene shares.
11/19/19
UBSW
11/19/19
DOWNGRADE
UBSW
Neutral
BeiGene downgraded to Neutral from Buy at UBS
UBS downgraded BeiGene to Neutral from Buy.
11/20/19
GUGG
11/20/19
INITIATION
Target $48
GUGG
Buy
Guggenheim starts Zymeworks at Buy with $48 price target
As previously reported, Guggenheim analyst Etzer Darout initiated coverage of Zymeworks (ZYME) with a Buy rating and $48 price target. The company's lead asset, ZW25, is planned for registrational studies in second-line biliary tract cancer and gastroesophageal cancers in 2020 in partnership with BeiGene (BGNE). Additionally, preclinical studies of ZW49 have demonstrated the potential for a differentiated profile relative to current HER-2 targeting ADC's, said Darout, who sees a number of opportunities for "significant share appreciation" from clinical updates of ZW25 and ZW49 over the next 12-18 months.

TODAY'S FREE FLY STORIES

TSN

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MRK

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NEWR

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DRRX

Durect

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VFC

VF Corp.

$94.25

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UBS

UBS

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CAMT

Camtek

$12.45

-0.19 (-1.50%)

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TEAM

Atlassian

$132.86

-1.9 (-1.41%)

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  • 23

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UBS

UBS

$13.13

-0.06 (-0.45%)

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  • 21

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RMED

Ra Medical Systems

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LTHM

Livent

$8.90

0.05 (0.57%)

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EQT

EQT Corporation

$8.25

-0.28 (-3.28%)

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ARWR

Arrowhead

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KSU

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INTC

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HAL

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BIG

Big Lots

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HOME

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LRCX

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DLTR

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