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ILMN

Illumina

$323.32

-4.62 (-1.41%)

, PACB

Pacific Biosciences

$5.48

-0.105 (-1.88%)

16:03
12/17/19
12/17
16:03
12/17/19
16:03

FTC files complaint against Illumina, Pacific Biosciences deal, Bloomberg says

The FTC filed a complaint against the planned merger of Illumina (ILMN) and Pacific Biosciences (PACB) citing anti-competitive concerns, according to Bloomberg.

ILMN

Illumina

$323.32

-4.62 (-1.41%)

PACB

Pacific Biosciences

$5.48

-0.105 (-1.88%)

ILMN Illumina
$323.32

-4.62 (-1.41%)

10/15/19
PIPR
10/15/19
UPGRADE
Target $8
PIPR
Overweight
Pacific Biosciences upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst William Quirk upgraded Pacific Biosciences of California (PACB) to Overweight from Neutral with an unchanged price target of $8. The analyst's Sequel II checks imply 36 to 42 placements in Q3, above his original 35 estimate. The market has been preoccupied with concerns about the Illumina (ILMN) deal falling through, and Pacific's valuation does not reflect the Sequel II launch, Quirk tells investors in a research note. If the deal fails, he believes Pacific Biosciences should be valued at seven times estimated 2020 revenue, or just under $8 per share. The stock closed Monday at $5.13. The analyst cites "strong" channel checks and the current valuation for his upgrade to Overweight.
10/25/19
GUGG
10/25/19
INITIATION
Target $350
GUGG
Buy
Illumina initiated with a Buy at Guggenheim
Guggenheim analyst David Westenberg initiated coverage of Illumina with a Buy rating and $350 price target.
10/25/19
GUGG
10/25/19
INITIATION
Target $350
GUGG
Buy
Guggenheim says Illumina 'best way to invest in genomic medicine,' starts at Buy
As previously reported, Guggenheim analyst David Westenberg initiated coverage of Illumina with a Buy rating and $350 price target, calling the stock the "best way to invest in genomic medicine." He thinks bear arguments around instrument cycles or PopSEQ funding delays have created an attractive entry point into the stock and recommends investors focus on emerging clinical sequencing opportunities where growth appears to be accelerating. Illumina has limited competitors in its fastest growing business areas and he sees it remaining one of the key technologies in the genomic medicine of the next decade, Westenburg added.
11/14/19
STFL
11/14/19
INITIATION
Target $345
STFL
Buy
Illumina initiated with a Buy at Stifel
Stifel analyst Daniel Arias initiated coverage of Illumina with a Buy rating and $345 price target. The analyst believes expectations are "relatively low" and 2020 is set up to be a better year for sales growth as key clinical applications expand and national sequencing efforts kick into gear.
PACB Pacific Biosciences
$5.48

-0.105 (-1.88%)

04/02/19
04/02/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AstraZeneca (AZN) downgraded to Sell from Neutral at UBS with analyst Michael Leuchten saying last week's oncology deal with Japan's Daiichi Sankyo suggests limited cash generation in the near term and is a sign of slow margin recovery. 2. Alcoa (AA) downgraded to Neutral from Outperform at Credit Suisse with analyst Curt Woodworth saying China is set to accelerate supply growth over the next several years as capacity swaps convert to new smelters and provincial focus pivots to growth model. 3. Pacific Biosciences (PACB) downgraded to Equal Weight from Overweight at Stephens with analyst Drew Jones saying the shares are within 10% of the looming purchase price by Illumina (ILMN). 4. Wingstop (WING) downgraded to Neutral from Buy at Guggenheim with analyst Matthew DiFrisco saying he sees increased risk to moderating new store growth and the current valuation multiple. 5. DowDuPont (DWDP) downgraded to Neutral from Buy at Citi and BofA/Merrill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/13/19
CANT
06/13/19
NO CHANGE
Target $8
CANT
Neutral
Cantor sees Pacific Biosciences deal closing despite U.K. probe risk
Cantor Fitzgerald analyst Jordan Abrams points out that the deadline for the U.K.'s Competition and Markets Authority to determine whether or not to move to a Phase 2 investigation on Illumina's (ILMN) proposed buyout of Pacific Biosciences (PACB) is June 18. The analyst's due diligence suggests the acquisition is at risk to move to a Phase 2 investigation, but his view is that the deal will ultimately close. Nonetheless, he expects additional pressure on Pacific Biosciences shares if CMA moves forward with a Phase 2 investigation. Pacific shares last closed at a 19% discount $8 acquisition price, and the deal is still expected to close mid-2019, Abrams tells investors in a research note. He keeps a Neutral rating on Pacific Biosciences.
06/20/19
CANT
06/20/19
NO CHANGE
Target $8
CANT
Neutral
Cantor still expects Pacific Biosciences deal to be approved in Europe
Cantor Fitzgerald analyst Jordan Abrams still expects Illumina's (ILMN) acquisition of Pacific Biosciences (PACB) to be approved in Europe after the Competition and Markets Authority referred the deal to a Phase 2 investigation. The CMA's initial due diligence on anti-competitive concerns was justified, but a better understanding of Pacific Biosciences technology will show that long-read in its current form is a complement, rather than a substitute, to short-read, Abrams tells investors in a research note after hosting an investor call with a competition specialist. He keeps a Neutral rating on Pacific shares with an $8 price target.

TODAY'S FREE FLY STORIES

TLGT

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DVA

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TSM

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-0.18 (-0.31%)

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KKR

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$31.20

0.7 (2.30%)

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1.26 (2.57%)

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KKR

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$31.20

0.7 (2.30%)

APO

Apollo Global

$50.35

1.26 (2.57%)

ARES

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$37.29

0.47 (1.28%)

BX

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$60.79

0.62 (1.03%)

CG

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$33.30

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HLNE

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SPCE

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  • 25

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GOOG

Alphabet

$1,480.28

28.34 (1.95%)

, NFLX

Netflix

$339.56

0.89 (0.26%)

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GOOG

Alphabet

$1,480.28

28.34 (1.95%)

NFLX

Netflix

$339.56

0.89 (0.26%)

CMCSK

Comcast

$0.00

(0.00%)

CMCSA

Comcast

$47.48

0.62 (1.32%)

GOOGL

Alphabet Class A

$1,479.12

29.29 (2.02%)

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  • 03

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JWN

Nordstrom

$40.34

-0.15 (-0.37%)

, WMT

Walmart

$114.93

-0.96 (-0.83%)

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JWN

Nordstrom

$40.34

-0.15 (-0.37%)

WMT

Walmart

$114.93

-0.96 (-0.83%)

CSPR

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$0.00

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  • 21

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  • 18

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BA

Boeing

$324.11

-7.89 (-2.38%)

, DDAIF

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$0.00

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DDAIF

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FCAU

Fiat Chrysler

$13.76

-0.14 (-1.01%)

VWAGY

Volkswagen

$0.00

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FSLR

First Solar

$53.51

-0.42 (-0.78%)

AAPL

Apple

$318.66

3.33 (1.06%)

DQ

Daqo New Energy

$53.61

-0.025 (-0.05%)

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SPOT

Spotify

$148.20

-3.59 (-2.37%)

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  • 05

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CE

Celanese

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-0.53 (-0.45%)

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BYND

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DBD

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IEF

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$111.28

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, SHY

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$84.73

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IEF

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SLV

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UBSFY

Ubisoft

$0.00

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IMVT

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TBLT

ToughBuilt

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MYO

Myomo

$0.32

0.0062 (1.98%)

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Conference/Events
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  • 21

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SRRA

Sierra Oncology

$0.40

-0.02 (-4.76%)

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  • 21

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SRNE

Sorrento Therapeutics

$4.26

-0.15 (-3.40%)

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AKER

Akers Biosciences

$3.45

-0.1 (-2.82%)

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ECA

Encana

$4.09

-0.18 (-4.22%)

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  • 29

    Jan

MBRX

Moleculin Biotech

$0.96

0.0122 (1.29%)

16:38
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Breaking Syndicate news story on Moleculin Biotech »

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VOD

Vodafone

$20.07

-0.225 (-1.11%)

, BT

BT Group

$0.00

(0.00%)

16:37
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16:37
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VOD

Vodafone

$20.07

-0.225 (-1.11%)

BT

BT Group

$0.00

(0.00%)

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16:30
01/17/20
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Options
Preliminary option volume of 28.7M today »

Preliminary option volume…

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