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Fly News Breaks for June 18, 2019
IHG, FRPT, REGN, ORCL, JBHT
Jun 18, 2019 | 10:16 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. InterContinental (IHG) downgraded to Underweight from Equal Weight at Barclays with analyst Vicki Stern stating downside risks from a macroeconomic slowdown are not reflected in the stock at current valuation levels. 2. Freshpet (FRPT) downgraded to Hold from Buy at SunTrust with analyst William Chappell saying his positive view of the company's fundamental story and outlook have not changed, but he cannot recommend for new investors to buy the stock at its current levels. 3. Regeneron (REGN) downgraded to Hold from Buy at Argus with analyst Jasper Hellweg noting that while the company has a "strong pipeline" with new recent indications for multiple products, its primary revenue driver Eylea is facing several competitive threats. 4. Oracle (ORCL) downgraded to Neutral from Outperform at Macquarie with analyst Sarah Hindlian telling investors that her checks suggest that closing the fourth quarter "was a struggle," with partners saying they had to rush to discount orders up until the final days. 5. J.B. Hunt (JBHT) downgraded to Neutral from Buy at UBS with analyst Thomas Wadewitz citing his increasing conviction that after a period of strong freight and unusually strong pricing in 2018, the downturn in freight will persist through 2019 amid "falling truckload and intermodal contract rates" for 2020. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
News For IHG;FRPT;REGN;ORCL;JBHT From the Last 2 Days
REGN
Sep 20, 2019 | 06:53 EDT
Regeneron Pharmaceuticals (REGN) and Sanofi (SNY) announced that the European Medicines Agency's Committee for Medicinal Products for Human Use, or CHMP, has adopted a positive opinion for Dupixent in a third indication. The CHMP recommended Dupixent be approved as an add-on therapy with intranasal corticosteroids for the treatment of adults with severe chronic rhinosinusitis with nasal polyposis for whom therapy with systemic corticosteroids and/or surgery do not provide adequate disease control. If approved, Dupixent would be the first biologic medicine available in the European Union to treat these patients. The positive CHMP opinion is based on two pivotal Phase 3 trials that evaluated Dupixent 300 mg every two weeks plus standard-of-care intranasal corticosteroids compared to placebo plus intranasal corticosteroids. A final decision on the Dupixent application by the European Commission is expected in the coming months.