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Fly News Breaks for February 11, 2020
SNY, PROV, IMAB, RBS, COP
Feb 11, 2020 | 10:12 EDT
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. ConocoPhillips (COP) initiated with an Overweight at Capital One. 2. RBS (RBS) reinstated with an Outperform at Credit Suisse. 3. I-MAB (IMAB) initiated with a Buy at Jefferies. 4. Provident Financial (PROV) assumed with a Neutral at Piper Sandler. 5. Sanofi (SNY) initiated with a Market Perform at SVB Leerink. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
News For COP;RBS;IMAB;PROV;SNY From the Last 2 Days
COP
Oct 31, 2020 | 07:50 EDT
Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump and his administration with this weekly recap compiled by The Fly: 1. FRACKING SUPPORT: President... To see the rest of the story go to thefly.com. See Story Here
COP
Oct 30, 2020 | 11:25 EDT
Bullish option flow detected in ConocoPhillips with 4,791 calls trading, 1.5x expected, and implied vol increasing over 4 points to 62.79%. 12/11 weekly 30.5 calls and 11/6 weekly 29.5 calls are the most active options, with total volume in those strikes near 2,600 contracts. The Put/Call Ratio is 0.58. Earnings are expected on February 2nd.
SNY
Oct 29, 2020 | 10:09 EDT
The European Patent Office Technical Boards of Appeal has ruled in Sanofi (SNY) and Regeneron's (REGN) favor, invalidating certain claims of Amgen's (AMGN) European patent directed to PCSK9 antibodies relevant to Praluent, Sanofi announced. "Praluent will continue to be available in European countries where it is approved for use and for sale," Sanofi said. "We are pleased with today's decision by the European Patent Office, which upholds the rigorous standard for pharmaceutical patents that we argued for in this case, affirming that Amgen's asserted claims against Sanofi in Europe are invalid. This decision validates our years-long commitment to vigorously defending this case," added Karen Linehan, Executive Vice President, Legal Affairs and General Counsel, Sanofi.
COP
Oct 29, 2020 | 09:25 EDT
Scotiabank analyst Paul Cheng last night downgraded Concho Resources (CXO) to Sector Perform from Outperform with a price target of $43, down from $70, to reflect the pending merger agreement with ConocoPhillips (COP). The probability of a third-party higher bidder has been "significantly reduced" following the merger announcement between Pioneer Natural Resources (PXD) and Parsley Energy (PE).
SNY
Oct 29, 2020 | 06:53 EDT
Sanofi (SNY) announced it has entered into an agreement with Merck (MRK) to conduct a Phase 2 clinical trial to evaluate the safety, pharmacokinetics, and preliminary efficacy of THOR-707, a highly differentiated non-alpha IL-2 candidate with a best-in-class profile, combined with or in sequenced administration with MSD's Keytruda in patients with various cancers. Under the agreement, Sanofi will sponsor the clinical trials while MSD will provide Keytruda. "We believe that THOR-707 has the potential to become a foundation of the next generation of immuno-oncology therapies. This collaboration with MSD will enable us to explore whether THOR-707 can increase and expand the effectiveness of KEYTRUDA and improve the outcomes for patients with cancer," said Peter Adamson, Global Head, Oncology Development and Pediatric Innovation, Sanofi.
SNY
Oct 29, 2020 | 06:32 EDT
Reports Q3 revenue EUR 9.48B vs. EUR 9.50B last year. Reports Q3 Specialty Care sales up 23.8%, "driven by strong Dupixent(R) performance and growth in all franchises". Vaccines sales were up 13.6%, "driven by record flu sales partly offset by decline in boosters, travel and Menactra(R) due to COVID-19." CEO Paul Hudson states: "We achieved a strong quarter supported by solid sales from both Dupixent(R) and Vaccines which allows us to upgrade our full year guidance. We remain focused on executing on our strategic priorities that will deliver promising medicines to address significant patient needs. To this end, we strengthened our R&D pipeline with the successful completion of the Principia acquisition, adding multiple BTK inhibitors to address a variety of serious illnesses. Our COVID-19 vaccines development efforts continue on a fast track along with ensuring global access with pre-orders signed with major countries, regions, and non-profit organizations who will work to distribute the vaccine to those who most need it."