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April 21, 2014
10:01 EDTSQBK, PCRX, AHP, TWOU, ATO, AGTC, SLMVV, NAVIV, ATENOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 2U (TWOU) initiated with a Buy at Compass Point... A10 Networks (ATEN) initiated with a Buy at Citigroup... Applied Genetic (AGTC) initiated with a Buy at Cantor... Ashford Hospitality Prime (AHP) initiated with a Hold at Deutsche Bank... Atmos Energy (ATO) initiated with a Neutral at JPMorgan... Navient (NAVIV) initiated with a Buy at Goldman... Pacira Pharmaceuticals (PCRX) initiated with a Buy at BofA/Merrill... Puma Biotechnology (PBYI) initiated with a Buy at Citigroup... Sallie Mae Bank (SLMVV) initiated with a Neutral at Goldman... Square 1 Financial (SQBK) initiated with a Market Perform at Keefe Bruyette.
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November 24, 2015
16:20 EDTAHPAshford Hospitality Prime to acquire Ritz-Carlton St. Thomas for $64M
Ashford Hospitality Prime (AHP) announced it has entered into a definitive agreement to acquire the 180-room Ritz-Carlton St. Thomas for $64M, or $355,000 per key, from Marriott (MAR). The acquisition is expected to close in approximately 30 days, subject to customary closing conditions. The company intends to finance the property with approximately $40M of non-recourse mortgage debt. The property will continue to be operated as a Ritz-Carlton property under a long-term management agreement with Ritz-Carlton. The purchase price for The Ritz-Carlton St. Thomas represents a trailing 12-month cap rate of 10% on net operating income and a trailing 7.2x EBITDA multiple, according to the Company's preliminary estimates. On a trailing 12-month basis as of October 2015, Ashford estimates The Ritz-Carlton St. Thomas achieved RevPAR of $433, with an Average Daily Rate of $555 and 78% occupancy. Located on 30 pristine oceanfront acres along Great Bay, The Ritz-Carlton St. Thomas is recognized as one of the best hotels in the U.S. Virgin Islands. Opened as The Ritz-Carlton St. Thomas in 1996, the resort recently completed a comprehensive $22M renovation of guest rooms and public space.
November 23, 2015
07:20 EDTAGTCApplied Genetic granted ODD from FDA for gene therapy product candidate
Applied Genetic announced that the FDA has granted an orphan drug designation for its gene therapy product candidate for the treatment of achromatopsia caused by mutations in the CNGA3 gene. AGTC is developing products for achromatopsia based on mutations in the CNGA3 and CNGB3 genes, which together account for approximately 75% of the total achromatopsia patient population. The company previously announced that the European Medicines Agency, or EMA, granted orphan designation for the same indication in October.
November 19, 2015
08:06 EDTATOAtmos Energy estimatse raised at Morgan Stanley
Morgan Stanley analyst Stephen Byrd raised Atmos Energy estimates to reflect higher capex plans and management's extension of the 608% growth rated until 2020 following yesterday's investor day. Byrd expects consensus estimates to move modestly higher and reiterates his Overweight rating and $70 price target on shares.
November 13, 2015
13:55 EDTATOAtmos Energy to host analyst meeting
Analyst meeting to be held in New York on November 18 at 9 am. Webcast Link
November 11, 2015
07:07 EDTATENA10 Networks outlook has improved, says Oppenheimer
After meeting with A190s management, Oppenheimer is more confident in the company's momentum. The firm says that its more optimistic outlook is driven mainly by its belief that the company's security business has made progress. The firm is more confident that the company can break even next year and raised its price target on the name to $10 from $7. Oppenheimer keeps an Outperform rating on the shares.

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