Five Prime downgraded to Neutral from Buy at Guggenheim » 16:1203/0803/08/21
Guggenheim analyst Etzer…
Guggenheim analyst Etzer Darout downgraded Five Prime Therapeutics (FPRX) to Neutral from Buy with a $38 price target after Amgen (AMGN) announced an agreement to acquire the company for $38 per share in cash.
Wells Fargo sets goal of net zero greenhouse gas emissions by 2050 » 14:1803/0803/08/21
Wells Fargo announced a…
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JPMorgan launches Project Spark » 08:5903/0803/08/21
J.P. Morgan Asset…
J.P. Morgan Asset Management announced the launch of Project Spark, a new initiative aimed at providing capital to funds managed by diverse, emerging alternative managers, including minority-led and women-led venture capital funds and other private funds. As part of the new initiative, the firm has committed to an initial $25M investment in five or more funds, to be governed by a newly established investment committee comprised of diverse senior executives across J.P. Morgan Asset Management. Recent data suggests that just 9% of firms in the private equity industry are women or minority led, while just 3% of U.S. focused private equity assets are managed by minority-owned firms.
Opening Day: InnovAge rises, Oscar Health slips on first trading day » 09:1403/0703/07/21
INNV, OSCR, VPCC, VPCB, WPCA, ATVC, WPCB, DMYQ, TWNT, FRSG, IPVI, IPVF, IPVA, PSAGU, KVSA, AURC, ATAQ, TRCA, ISOS, MACC, ROCR, DHBC, GBRG, TSPQ, FTEV, SNII, OPHA, NDAC, ANZU, NSTD, NSTC, LOKM, AMPI, COIN, RBLX, VZIO, GROY, ALHC, HOOD, PLTR, ASAN, WORK, SPOT, BABA
Amgen acquisition brings 'relatively de-risked' asset, says Citi » 06:2403/0503/05/21
Citi analyst Mohit Bansal…
Citi analyst Mohit Bansal believes Amgen's (AMGN) acquisition of e Five Prime Therapeutics (FPRX) deal gives it a "relatively de-risked" asset that can help grow Amgen's oncology franchise while also augmenting its global footprint in the medium to long term. The initial market opportunity appears small at a $700M peak but this is enough to justify the price tag, while expansion opportunities and pipeline could provide upside, Bansal tells investors in a research note. The analyst keeps a Buy rating on Amgen with a $265 price target.
Five Prime downgraded to Hold from Buy at Jefferies » 19:0303/0403/04/21
Jefferies analyst Eun…
Jefferies analyst Eun Yang downgraded Five Prime to Hold from Buy with a $38 price target.
Wells Fargo to give all employees PTO for vaccine appointments, Reuters says » 18:2603/0403/04/21
Wells Fargo intends to…
Wells Fargo intends to give all employees up to eight hours of paid time off to accommodate coronavirus vaccine appointments, Reuters' Imani Moise reports, citing a memo. "While we understand that choosing to be vaccinated is a personal decision, we encourage you to consider getting the vaccine when it's available to you," head of human resources David Galloreese told all staff in a memo. Reference Link
Fly Intel: Wall Street's top stories for Thursday » 16:4303/0403/04/21
SNOW, AMGN, FPRX, SQ, RTX, SCHW, UNFI, AMZN, BURL, OKTA, SDGR, VRM, KR
The Nasdaq has been the…
Tufin releases vulnerability-based change automation app » 16:2603/0403/04/21
Tufin announced the…
Tufin announced the release of the Vulnerability-Based Change Automation App. The new app expands Tufin's vulnerability management capabilities with automated vulnerability checks prior to approving network access changes. When combined with the Vulnerability Mitigation App, Tufin delivers a vulnerability management solution that allows customers to maintain additional control over their attack surface when making network changes. "The release of the VCA strengthens Tufin's leadership in the market by extending our network security policy management capabilities into vulnerability management," said Ofer Or, Vice President of Products at Tufin. "With the app, users can incorporate risk assessment into the decision making around security policy, increase the speed for network change implementation, and enable the business without compromising security."
Piper Sandler bullish on Accolade, says 2nd.MD accelerates growth » 15:0603/0403/04/21
Piper Sandler analyst…
Piper Sandler analyst Jeff Garro notes that Accolade has announced the on-time close of the 2nd.MD acquisition. The analyst expects 2nd.MD to contribute $46M in fiscal year 2022 revenue, up about 28% year-over-year and accretive to Accolade's 25%-plus long-term revenue growth rate. Garro believes this contribution is supported by 2nd.MD's 2020 growth to 7M-plus members and leaves intra-year cross-sell to Accolade's roughly 100 customers and 2M-plus members as potential upside. He now forecasts 28% growth to $323M in fiscal year 2023 revenue due to continued adoption of all offerings, 2nd.MD cross-sell, and fuller employment. Overall, the analyst sees a long growth runway for Accolade as it helps untangle the complexities in healthcare and creates savings for employer clients and better outcomes for employee members. He has an Overweight rating and a price target of $60 on the shares.