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Recommendations
Illumina miss 'surprising' given backlog, says Piper Sandler » 16:41
08/11/22
08/11
16:41
08/11/22
16:41
ILMN

Illumina

$227.64 /

+0.44 (+0.19%)

, PACB

Pacific Biosciences

$7.94 /

+0.245 (+3.18%)

, TXG

10x Genomics

$48.22 /

+1.27 (+2.71%)

Piper Sandler analyst…

Piper Sandler analyst David Westenberg notes that Illumina just reported revenues, earnings and guidance that came in "well below consensus," which he calls "surprising" given the company's "rich" backlog of NovaSeq instruments and consumables. The analyst, who sees the miss potentially signaling that new orders in excess of backlog filling slowed "dramatically," argues that "the silver lining, if any," is that most of the other single products genomics companies, such as Pacific Biosciences (PACB) and 10x Genomics (TXG), also noted transitory headwinds from the macro environment. Westenberg, who thinks Illumina continues to have a strong competitive position, has an Overweight rating on the shares, which are down $51.49, or 23%, to $175.95 in after-hours trading.

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TXG 10x Genomics
$48.22 /

+1.27 (+2.71%)

PACB Pacific Biosciences
$7.94 /

+0.245 (+3.18%)

ILMN Illumina
$227.64 /

+0.44 (+0.19%)

ILMN Illumina
$227.64 /

+0.44 (+0.19%)

07/14/22 Canaccord
Illumina merger challenge not reflection of merits, says Canaccord
07/13/22 Piper Sandler
Illumina uncertainty over Grail continues with ruling, says Piper Sandler
07/13/22 Barclays
Illumina downgraded to Underweight from Equal Weight at Barclays
07/08/22 Citi
Illumina price target lowered to $220 from $325 at Citi
PACB Pacific Biosciences
$7.94 /

+0.245 (+3.18%)

08/04/22 Canaccord
Pacific Biosciences price target lowered to $14 from $17 at Canaccord
05/15/22 Piper Sandler
Pacific Biosciences price target lowered to $6 from $13 at Piper Sandler
05/05/22 Cantor Fitzgerald
Pacific Biosciences price target lowered to $19 from $23 at Cantor Fitzgerald
03/01/22 Piper Sandler
Pacific Biosciences price target lowered to $13 from $20 at Piper Sandler
TXG 10x Genomics
$48.22 /

+1.27 (+2.71%)

08/10/22 Morgan Stanley
10x Genomics price target lowered to $70 from $100 at Morgan Stanley
08/09/22 Cowen
10x Genomics price target raised to $55 from $50 at Cowen
08/09/22 Citi
10x Genomics price target lowered to $65 from $100 at Citi
07/25/22 Canaccord
Canaccord starts 10x Genomics at Buy, sees multiple avenues for long-term growth
TXG 10x Genomics
$48.22 /

+1.27 (+2.71%)

PACB Pacific Biosciences
$7.94 /

+0.245 (+3.18%)

ILMN Illumina
$227.64 /

+0.44 (+0.19%)

ILMN Illumina
$227.64 /

+0.44 (+0.19%)

TXG 10x Genomics
$48.22 /

+1.27 (+2.71%)

PACB Pacific Biosciences
$7.94 /

+0.245 (+3.18%)

ILMN Illumina
$227.64 /

+0.44 (+0.19%)

PACB Pacific Biosciences
$7.94 /

+0.245 (+3.18%)

ILMN Illumina
$227.64 /

+0.44 (+0.19%)

Hot Stocks
ALX Oncology announces first patient dosed in Phase 2 trial of evorpacept » 07:46
08/11/22
08/11
07:46
08/11/22
07:46
ALXO

ALX Oncology

$12.78 /

+1.03 (+8.77%)

, MRK

Merck

$89.20 /

-0.32 (-0.36%)

, LLY

Eli Lilly

$304.62 /

+1.61 (+0.53%)

ALX Oncology (ALXO)…

ALX Oncology (ALXO) announced the initiation of a Phase 2 investigator-sponsored study of evorpacept, a next generation CD47 blocker, in combination with ERBITUX and KEYTRUDA, Merck's (MRK) anti-PD-1 therapy, in patients with refractory microsatellite stable metastatic colorectal cancer who have progressed on at least two lines of systemic therapy. This is an open-label, multi-center, single-arm phase 2 clinical trial. Eli Lilly (LLY) and Company and Merck, known as MSD outside the United States and Canada, will respectively provide ERBITUX and KEYTRUDA to support this study.

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MRK Merck
$89.20 /

-0.32 (-0.36%)

LLY Eli Lilly
$304.62 /

+1.61 (+0.53%)

ALXO ALX Oncology
$12.78 /

+1.03 (+8.77%)

ALXO ALX Oncology
$12.78 /

+1.03 (+8.77%)

08/09/22 Cantor Fitzgerald
ALX Oncology price target lowered to $32 from $60 at Cantor Fitzgerald
08/09/22 Credit Suisse
ALX Oncology price target lowered to $38 from $43 at Credit Suisse
06/06/22 Stifel
ALX Oncology price target lowered to $16 from $35 at Stifel
06/03/22 Piper Sandler
ALX's evorpacept best-in-class aong CD47-targeting agents, says Piper Sandler
MRK Merck
$89.20 /

-0.32 (-0.36%)

08/05/22 Truist
Global Blood could complement any oncology franchise, says Truist
07/29/22 Barclays
Merck price target raised to $101 from $97 at Barclays
07/27/22 H.C. Wainwright
Seagen price target raised to $200 from $170 at H.C. Wainwright
07/18/22 UBS
Merck price target raised to $98 from $76 at UBS
LLY Eli Lilly
$304.62 /

+1.61 (+0.53%)

08/05/22 Morgan Stanley
Eli Lilly recent weakness a buying opportunity, says Morgan Stanley
08/01/22 Jefferies
Concert Pharmaceuticals price target raised to $14 from $9.50 at Jefferies
07/27/22 Benchmark
AbCellera collaboration lowers reliance on Lilly, says Benchmark
07/18/22 Cowen
Cowen believes Global Pharma quarterly results will be strong
MRK Merck
$89.20 /

-0.32 (-0.36%)

LLY Eli Lilly
$304.62 /

+1.61 (+0.53%)

ALXO ALX Oncology
$12.78 /

+1.03 (+8.77%)

MRK Merck
$89.20 /

-0.32 (-0.36%)

LLY Eli Lilly
$304.62 /

+1.61 (+0.53%)

MRK Merck
$89.20 /

-0.32 (-0.36%)

LLY Eli Lilly
$304.62 /

+1.61 (+0.53%)

MRK Merck
$89.20 /

-0.32 (-0.36%)

LLY Eli Lilly
$304.62 /

+1.61 (+0.53%)

Earnings
Olink backs FY22 revenue view $138M-$145M, consensus $141.61M  07:12
08/11/22
08/11
07:12
08/11/22
07:12
OLK

Olink

$17.14 /

+2.145 (+14.30%)

 
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OLK Olink
$17.14 /

+2.145 (+14.30%)

OLK Olink
$17.14 /

+2.145 (+14.30%)

02/16/22 BTIG
Olink price target lowered to $37 from $44 at BTIG
11/11/21 SVB Securities
Olink price target lowered to $40 from $50 at SVB Leerink
OLK Olink
$17.14 /

+2.145 (+14.30%)

OLK Olink
$17.14 /

+2.145 (+14.30%)

Earnings
Olink reports Q2 EPS (4c), consensus (14c) » 07:12
08/11/22
08/11
07:12
08/11/22
07:12
OLK

Olink

$17.14 /

+2.145 (+14.30%)

Reports Q2 revenue $27.5M…

Reports Q2 revenue $27.5M vs $17.688M last year. "Olink continues to make tremendous strides as the leader in the next-generation proteomics market, broadening the use of our product platform and executing on all aspects of our strategy," said Jon Heimer, CEO of Olink. "Publication of data incorporating Olink's PEA technology in both the research and clinical settings continues to accelerate. In particular, the UKB-PPP's release of early results from its pioneering research was a significant landmark for next-generation proteomics and Olink, and our journey to improve human health."

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OLK Olink
$17.14 /

+2.145 (+14.30%)

OLK Olink
$17.14 /

+2.145 (+14.30%)

02/16/22 BTIG
Olink price target lowered to $37 from $44 at BTIG
11/11/21 SVB Securities
Olink price target lowered to $40 from $50 at SVB Leerink
OLK Olink
$17.14 /

+2.145 (+14.30%)

OLK Olink
$17.14 /

+2.145 (+14.30%)

Wednesday
Recommendations
10x Genomics price target lowered to $70 from $100 at Morgan Stanley » 08:45
08/10/22
08/10
08:45
08/10/22
08:45
TXG

10x Genomics

$44.88 /

+1.43 (+3.29%)

Morgan Stanley analyst…

Morgan Stanley analyst Tejas Savant lowered the firm's price target on 10x Genomics to $70 from $100 and keeps an Overweight rating on the shares after the company reported Q2 results in line with its preannouncement and cut guidance, which was "unsurprising" following the preliminary release. The meaningful outlook reset should be "a clearing event for the stock," said Savant, who likes the setup into 2023 and beyond with Fixed RNA Profiling and CytAssist seeing strong initial traction and Xenium on track for year-end.

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TXG 10x Genomics
$44.88 /

+1.43 (+3.29%)

TXG 10x Genomics
$44.88 /

+1.43 (+3.29%)

08/09/22 Cowen
10x Genomics price target raised to $55 from $50 at Cowen
08/09/22 Citi
10x Genomics price target lowered to $65 from $100 at Citi
07/25/22 Canaccord
Canaccord starts 10x Genomics at Buy, sees multiple avenues for long-term growth
07/25/22 Canaccord
10x Genomics initiated with a Buy at Canaccord
TXG 10x Genomics
$44.88 /

+1.43 (+3.29%)

TXG 10x Genomics
$44.88 /

+1.43 (+3.29%)

Tuesday
General news
Merck gives up gains after FDA announces impurity in diabetes drug  14:26
08/09/22
08/09
14:26
08/09/22
14:26
MRK

Merck

$90.09 /

+1.62 (+1.83%)

 
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MRK Merck
$90.09 /

+1.62 (+1.83%)

MRK Merck
$90.09 /

+1.62 (+1.83%)

08/05/22 Truist
Global Blood could complement any oncology franchise, says Truist
07/29/22 Barclays
Merck price target raised to $101 from $97 at Barclays
07/27/22 H.C. Wainwright
Seagen price target raised to $200 from $170 at H.C. Wainwright
07/18/22 UBS
Merck price target raised to $98 from $76 at UBS
MRK Merck
$90.09 /

+1.62 (+1.83%)

MRK Merck
$90.09 /

+1.62 (+1.83%)

MRK Merck
$90.09 /

+1.62 (+1.83%)

MRK Merck
$90.09 /

+1.62 (+1.83%)

Hot Stocks
FDA finds nitrosamine impurity in Merck diabetes drug Januvia » 14:24
08/09/22
08/09
14:24
08/09/22
14:24
MRK

Merck

$90.07 /

+1.6 (+1.81%)

The FDA said it recently…

The FDA said it recently became aware of a nitrosamine impurity, Nitroso-STG-19, in certain samples of Merck's Januvia, also known as sitagliptin, a medicine used to treat type 2 diabetes mellitus. "To avoid a shortage and help ensure patients have access to an adequate supply of the medicine, FDA will not object to the temporary distribution of sitagliptin containing NTTP above the acceptable intake limit of 37 ng per day, and up to 246.7 ng per day," the agency said in a statement. Sitagliptin is a prescription drug used to control high blood sugar in patients with type 2 diabetes mellitus. The FDA recommends prescribers continue to use sitagliptin "when clinically appropriate to prevent a gap in patient treatment." Reference Link

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MRK Merck
$90.07 /

+1.6 (+1.81%)

MRK Merck
$90.07 /

+1.6 (+1.81%)

08/05/22 Truist
Global Blood could complement any oncology franchise, says Truist
07/29/22 Barclays
Merck price target raised to $101 from $97 at Barclays
07/27/22 H.C. Wainwright
Seagen price target raised to $200 from $170 at H.C. Wainwright
07/18/22 UBS
Merck price target raised to $98 from $76 at UBS
MRK Merck
$90.07 /

+1.6 (+1.81%)

MRK Merck
$90.07 /

+1.6 (+1.81%)

MRK Merck
$90.07 /

+1.6 (+1.81%)

MRK Merck
$90.07 /

+1.6 (+1.81%)

Recommendations
10x Genomics price target raised to $55 from $50 at Cowen » 07:35
08/09/22
08/09
07:35
08/09/22
07:35
TXG

10x Genomics

$43.45 /

+0.83 (+1.95%)

Cowen analyst Dan Brennan…

Cowen analyst Dan Brennan raised the firm's price target on 10x Genomics to $55 from $50 and keeps an Outperform rating on the shares. The analyst said preannouncing a 2Q miss the focus was on the extent of a 2022 guidance cut which looks reasonable and clarity on the issues where a recovery where visibility remains low.

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TXG 10x Genomics
$43.45 /

+0.83 (+1.95%)

TXG 10x Genomics
$43.45 /

+0.83 (+1.95%)

08/09/22 Citi
10x Genomics price target lowered to $65 from $100 at Citi
07/25/22 Canaccord
Canaccord starts 10x Genomics at Buy, sees multiple avenues for long-term growth
07/25/22 Canaccord
10x Genomics initiated with a Buy at Canaccord
07/15/22 Morgan Stanley
10x Genomics reset a 'clearing event,' says Morgan Stanley
TXG 10x Genomics
$43.45 /

+0.83 (+1.95%)

TXG 10x Genomics
$43.45 /

+0.83 (+1.95%)

Hot Stocks
Becton Dickinson, Labcorp announce CDx collaboration agreement » 06:58
08/09/22
08/09
06:58
08/09/22
06:58
BDX

Becton Dickinson

$255.98 /

+1.66 (+0.65%)

, LH

Labcorp

$255.76 /

+1.045 (+0.41%)

Becton Dickinson (BDX)…

Becton Dickinson (BDX) announced a collaboration agreement with Labcorp (LH), creating a framework to develop, manufacture, market and commercialize flow cytometry-based companion diagnostics, or CDx, intended to match patients with life-changing treatments for cancer and other diseases. The agreement creates a framework for BD and Labcorp Drug Development to collaborate on flow cytometry-based CDx opportunities with pharmaceutical partners. The two companies bring together capabilities that comprise an end-to-end solution for CDx development for the pharmaceutical industry. Their joint offering ranges from exploratory panel development to FDA approval of diagnostic and IVD kit manufacturing and distribution.

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LH Labcorp
$255.76 /

+1.045 (+0.41%)

BDX Becton Dickinson
$255.98 /

+1.66 (+0.65%)

BDX Becton Dickinson
$255.98 /

+1.66 (+0.65%)

08/04/22 Piper Sandler
Piper waits for a better Becton Dickinson entry point despite 'impressive' sales
08/01/22 Morgan Stanley
Embecta initiated with an Equal Weight at Morgan Stanley
07/18/22 Stifel
Becton Dickinson price target lowered to $280 from $290 at Stifel
07/11/22 Citi
Becton Dickinson downgraded to Sell from Neutral at Citi
LH Labcorp
$255.76 /

+1.045 (+0.41%)

07/29/22 Mizuho
LabCorp price target lowered to $296 from $323 at Mizuho
05/04/22 Mizuho
LabCorp price target lowered to $323 from $354 at Mizuho
05/03/22 Deutsche Bank
LabCorp price target lowered to $265 from $294 at Deutsche Bank
05/02/22 Credit Suisse
LabCorp price target lowered to $312 from $344 at Credit Suisse
LH Labcorp
$255.76 /

+1.045 (+0.41%)

BDX Becton Dickinson
$255.98 /

+1.66 (+0.65%)

LH Labcorp
$255.76 /

+1.045 (+0.41%)

LH Labcorp
$255.76 /

+1.045 (+0.41%)

BDX Becton Dickinson
$255.98 /

+1.66 (+0.65%)

BDX Becton Dickinson
$255.98 /

+1.66 (+0.65%)

Recommendations
10x Genomics price target lowered to $65 from $100 at Citi » 06:35
08/09/22
08/09
06:35
08/09/22
06:35
TXG

10x Genomics

$43.45 /

+0.83 (+1.95%)

Citi analyst Patrick…

Citi analyst Patrick Donnelly lowered the firm's price target on 10x Genomics to $65 from $100 and keeps a Buy rating on the shares post the Q2 results. Particular focus was the lowered fiscal 2022 revenue guidance, which management attributed to China COVID lockdowns, currency headwinds, and the post-pandemic growth ramp tracking below expectations, Donnelly tells investors in a research note. The analyst believes the guidance reduction was broadly expected, but views the updated guidance cut of $100M as worse than anticipated.

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TXG 10x Genomics
$43.45 /

+0.83 (+1.95%)

TXG 10x Genomics
$43.45 /

+0.83 (+1.95%)

07/25/22 Canaccord
Canaccord starts 10x Genomics at Buy, sees multiple avenues for long-term growth
07/25/22 Canaccord
10x Genomics initiated with a Buy at Canaccord
07/15/22 Morgan Stanley
10x Genomics reset a 'clearing event,' says Morgan Stanley
07/15/22 BofA
BofA sees 'no quick fix' for 10x Genomics, downgrades to Underperform
TXG 10x Genomics
$43.45 /

+0.83 (+1.95%)

TXG 10x Genomics
$43.45 /

+0.83 (+1.95%)

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