Reports Q2 revenue $40.4M, consensus $11.28M.
Thursday, August 2, 2018
Amag Pharmaceuticals cuts FY18 revenue view to $525M-$565M from $540M-$580M
Consensus $540.26M. Raises FY18 adjusted EBITDA guidance to $125M-$145M from $120M-$140M.
Vote against Express Scripts deal ‘somewhat shortsighted,’ says Citi
Citi analyst Ralph Giacobbe believes a vote against Cigna’s (CI) proposed acquisition of Express Scripts (ESRX), which the Wall Street Journal reported that activist Carl Icahn will push for, could prove “somewhat shortsighted given the changing and evolving healthcare landscape and the integrated offering and cash flow that a combined entity would generate to compete more effectively.” The analyst says that regardless of the outcome, he remains positive on Cigna shares. The company’s model should continue to drive growth without Express Scripts, and potentially enhance growth with the deal, Giacobbe tells investors in a research note. He keeps a Buy rating on Cigna.
California Insurance Commissioner recommends blocking CVS, Aetna deal
California Insurance Commissioner Dave Jones yesterday issued his finding that the proposed merger of CVS Health (CVS) and Aetna (AET) “would have significant anti-competitive impacts on American consumers and health care and health insurance markets.” Jones formally recommended that the United States Department of Justice sue to block the proposed merger. Jones said he found that the proposed merger “poses competitive concerns in the Medicare Part D market, where both companies currently compete, as well as in the highly-concentrated market for Pharmacy Benefit Manager services, and in the retail pharmacy market
Adaptimmune says has funding through early 2020
The Company believes that its existing cash, cash equivalents, marketable securities and income from GSK upon transition of the NY-ESO program will fund the Company’s current operations through to early 2020.
Citi upgrades Zymeworks to Buy on valuation
Citi upgrades Zymeworks to Buy on valuation. Citi analyst Yigal Nochomovitz upgraded to Buy from Neutral and raised his price target for the shares to $20 from $19. The company is well capitalized following the June offering with a cash runway expected to last through at least one planned Phase 2/3 registrational study for ZW-25, Nochomovitz tells investors in a research note. The analyst cites valuation for his upgrade to Buy.
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