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August 6, 2014
04:55 EDTATHN, ATHN, JNJ, JNJ, CERN, CERN, UNH, UNH, SNY, SNY, PFE, PFE, MDT, MDT, CAH, CAH, BCR, BCR, AGTC, AGTCPiper Jaffray to hold a summit
3rd Annual Heartland Summit to be held in Minneapolis on August 6-7.
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November 18, 2015
07:02 EDTPFEMerck KGaA, Pfizer win FDA breakthrough therapy designation for Avelumab
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06:59 EDTCAHCardinal Health to host analyst and investor day
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06:09 EDTPFEValeant's Addyi sees hardly any sales, Bloomberg says
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November 17, 2015
16:45 EDTBCRCryoLife resolves PerClot litigation with Medafor
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16:44 EDTBCRCryoLife and C.R. Bard subsidiary enter into patent resolution
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15:02 EDTATHNathenahealth announced new services agreement with TeamPraxis
athenahealth and TeamPraxis, a physician service organization in Hawaii, announced a new services agreement which enables TeamPraxis to access and use the athenaNet platform to implement and support the athenaOne suite of services and athenaCommunicator Enterprise population health service.
11:23 EDTATHNBarclays says sell athenahealth as new customers get harder to find
Barclays downgraded athenahealth (ATHN) to Underweight, the firm's equivalent of a Sell rating, in a note to investors today. The company's prospects in the ambulatory care market look weak and its growth rate appears to be unsustainable, the firm contended. athenahealth provides cloud-based services and mobile applications to medical groups WHAT'S NEW: After analyzing the ambulatory enterprise market, Barclays analyst Eric Percher reported that only 12 of the 100 largest names on the list are potential targets for athenahealth. Additionally, those dozen groups are much smaller than the ones with which athenahealth made deals in 2014 and earlier this year, wrote Percher. Given his findings, the analyst expects athenahealth's revenue growth to decline going forward. In order to accelerate its growth, athenahealth needs large contract wins and those are unlikely to occur in the near-term, predicted the analyst, who downgraded the stock to Underweight from Equal Weight and lowered his price target on the name to $110 from $140. WHAT'S NOTABLE: JPMorgan analyst Michael Newshel assumed lead coverage of athenahealth today with an Overweight rating and $170 price target. In his note this morning on the space, Newshel said his firm's latest hospital CIO survey indicates there will be no slowdown in HIT investments despite the electronic health records adoption cycle maturing. PRICE ACTION: In morning trading, athenahealth fell 6.6% to $152.22.
10:00 EDTATHNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Airgas (ARG) downgraded on valuation at KeyBanc... BHP Billiton (BHP) downgraded to Neutral from Buy at Clarksons Platou... Chesapeake (CHK) downgraded to Neutral from Buy at Sterne Agee CRT... ChipMOS (IMOS) downgraded to Equal Weight from Overweight at Morgan Stanley... Clovis (CLVS) downgraded to Neutral from Conviction Buy at Goldman... Cooper Companies (COO) downgraded to Market Perform from Outperform at Wells Fargo... Five Below (FIVE) downgraded to Neutral from Buy at Sterne Agee CRT... Grainger (GWW) downgraded to Underweight from Neutral at Atlantic Equities... Hess Corp. (HES) downgraded to Perform from Outperform at Oppenheimer... J Sainsbury (JSAIY) downgraded to Neutral from Buy at Citi... Kindred Biosciences (KIN) downgraded to Market Perform from Outperform at BMO Capital... Leju (LEJU) downgraded to Neutral from Buy at BofA/Merrill... Lombard Medical (EVAR) downgraded to Equal Weight from Overweight at Barclays... Osiris (OSIR) downgraded to Sell from Hold at Brean Capital... Polaris Industries (PII) downgraded on anemic ORV growth at Wedbush... SQM (SQM) downgraded to Hold from Buy at HSBC... Southwestern Energy (SWN) downgraded to Underperform from Neutral at Sterne Agee CRT... Starwood (HOT) downgraded to Outperform from Buy at CLSA... Urban Outfitters (URBN) downgraded to Hold from Buy at Cantor... WM Morrison (MRWSY) downgraded to Sell from Neutral at Citi... adidas (ADDDY) downgraded to Sector Perform from Outperform at RBC Capital... athenahealth (ATHN) downgraded to Underweight from Equal Weight at Barclays.
09:14 EDTMDTMedtronic announces FDA approval, launch of MyCareLink Smart Monitor
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09:05 EDTUNHOptumRx acquires AxelaCare
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06:26 EDTATHNThe Advisory Board initiated with an Overweight at JPMorgan
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05:43 EDTATHNathenahealth downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Eric Percher downgraded athenahealth to Underweight saying the company's physician and revenue growth will decline moving forward. An analysis of the ambulatory enterprise market indicates that potential athenahealth targets among the 100 largest health systems number only 12, Percher tells investors in a research note. Big enterprise wins are needed to drive growth but are "few and far between," the analyst contends. He cut his price target for athenahealth to $110 from $140. The provider of cloud-based services for medical groups and health systems closed yesterday up $1.77 to $162.98.
05:22 EDTPFEStocks with implied volatility movement; P PFE
Stocks with implied volatility movement; Pandora (P) 104, Pfizer (PFE) 29 according to iVolatility.
November 16, 2015
14:38 EDTJNJGenmab confirms FDA approval of Darzalex
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13:32 EDTPFECantor helps Moelis clinches advisory role for Pfizer, Reuters reports
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13:09 EDTJNJFDA approves Darzalex to treat multiple myeloma
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09:59 EDTPFEOmega bought Valeant in Q3, sold some SuneEdison
Leon Cooperman's Omega Advisors gave a quarterly update on its stakes in a filing this morning, disclosing its positions as of September 30. NEW STAKES: Pfizer (PFE), Valeant (VRX) Walgreens Boots Alliance (WBA), TerraForm Global (GLBL), Cigna (CI). INCREASED STAKES: Google Class A (GOOGL), Facebook (FB), Delta Air Lines (DAL). DECREASED STAKES: SunEdison (SUNE), Shire (SHPG), Citi (C), KAR Auction (KAR), LyondellBasell (LYB). LIQUIDATED STAKES: McKesson (MCK), 21st Century Fox (FOXA), General Motors (GM), QEP Resources (QEP), eBay (EBAY).
09:06 EDTUNHDiplomat seen as compelling amid specialty pharmacy fallout
Shares of specialty pharmacy operator Diplomat Pharmacy (DPLO) and pharmacy benefit manager Express Scripts (ESRX) have each been knocked down by the negative news surrounding the sector amid the troubles faced by Valeant (VRX) and others, but an analyst at Leerink contends in a note to investors that the pullbacks in both stocks provide buying opportunities. BACKGROUND: Drugmaker Valeant and its prior specialty pharmacy partner, Philidor Rx Services, have been at the center of the firestorm engulfing the sector. Following claims that Philidor urged its employees to modify prescriptions to ensure more orders of Valeant-branded drugs rather than generics, as well as other allegations of wrongdoing, Express Scripts (ESRX) and peer CVS Health (CVS) terminated Philidor from their networks. The day after those termination announcements, Valeant said that it was severing all ties with Philidor and that the pharmacy planned to shut down operations as soon as possible, consistent with applicable laws. Valeant has subsequently said that Philidor has committed to cease operations by January 30, 2016, at the latest. More recently, Express Scripts, the nation's largest pharmacy benefit manager, announced that it stopped doing business with Linden Care, accusing it of being a "captive" pharmacy that dispenses mostly products made by Horizon Pharma (HZNP). In turn, Horizon called the idea that Linden Care is a captive pharmacy "entirely false," stating that "at best Express Scripts is being reckless in its allegations and at worse it is intentionally attempting to mislead investors." Express Scripts' move also impacted shares of Insys Therapeutics (INSY), which reportedly also used Linden Care to fulfill prescription for its drugs. DIPLOMAT LIKELY TO STAY IN-NETWORK: Leerink analyst David Larsen acknowledged that recent events indicate that Express Scripts appears to be evaluating certain retail pharmacies and their relationships with manufacturers, but he believes Diplomat's mix of drugs for diseases like multiple sclerosis, HIV, hepatitis C and cancer differentiate it as a "true" specialty pharmacy. Larsen does not think Diplomat is at risk of being excluded from the pharmacy networks of Express Scripts, CVS or UnitedHealth's (UNH) Optum, he tells investors. Larsen expects limited distribution agreements to stay an important channel strategy for drugmakers and believes these agreements are appropriate for high cost specialty drugs that require special handling and additional services to manage patient adherence. The analyst, who thinks Diplomat remains well positioned to deliver annual growth of over 30% in the next several years, keeps an Outperform rating on its shares. EXPRESS BUYING OPPORTUNITY: Larsen also thinks concerns around manufacturer and pharmacy relationships have put unwarranted pressure on shares of Express Scripts. He does not expect Express Scripts to disclose new lawsuits around rebate dollars owed over other manufacturer disputes and keeps an Outperform rating on the stock, which he views as having an "attractive" valuation. WHAT'S NOTABLE: Larsen also thinks that the specialty channel remains an opportunity for Walgreens Boots Alliance (WBA) and believes its proposed acquisition of Rite Aid (RAD) can strengthen its specialty offering. The analyst keeps an Outperform rating on Walgreens shares as well. PRICE ACTION: Over the last three months, Diplomat Pharmacy shares have declined 28%, Express Scripts has fallen 6% and Walgreens has dropped 14%.
06:33 EDTPFEPfizer, Allergan deal brings focus on U.S. tax-inversion deals, Reuters says
Pfizer's (PFE) takeover bid for Allergan (AGN) has refocused financial markets over a potential move by the U.S. Treasury Department against tax-inversion deals, Reuters reported Friday. The outlook for such a move remained unclear on Friday, the report says. Reference Link
November 15, 2015
18:13 EDTPFEAllergan, Pfizer targeting late November merger deal, FT says
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