Thursday, November 1, 2018
Morgan Stanley ups Anthem price target to $372 after ‘bullish’ 2019 comments
Morgan Stanley analyst Zack Sopcak said that Anthem management commented a number of times on the company’s Q3 earnings call that 2019 consensus EPS, which had been $17.13, was “light.” Assuming a low end of 8% growth and high end of 12% growth would make the range $17.30-$17.90, he noted. The company’s Q3 results also showed continued strong operating performance and its 2018 guidance was raised by more than the Q3 beat, noted Sopcak. Given the Q3 performance and “bullish” 2019 commentary, Sopcak raised his price target Anthem shares to $372 from $368 and keeps an Overweight rating on the stock.
https://thefly.com/landingPageNews.php?id=2815277
Leerink stills believes Athenahealth will sell in $135-$140 range
Leerink analyst David Larsen continues to believe that Athenahealth will sell and the reported partnership of Veritas Capital and Elliott Management makes strategic sense. Veritas has several HCIT companies within its existing portfolio and Elliot still retains a about 9% stake in Athenahealth, according to Bloomberg, he contends. While a deal may still take some time to complete, Larsen continues to believe Athenahealth will sell in the $135-$140 range. The analyst reiterates a Market Perform rating on the shares.
https://thefly.com/landingPageNews.php?id=2815291
Baxter price target lowered to $77 form $90 at Leerink
Leerink analyst Danielle Antalffy lowered her price target for Baxter to $77 from $90 after the shares sold off in reaction to the company’s first sales miss since Q4 of 2016 and first downward operational sales growth guidance since the mid-2015 split. However, the analyst believes that a Medication Delivery turnaround is achievable with solid execution. Antalffy reiterates an Outperform rating on the shares.
https://thefly.com/landingPageNews.php?id=2815309
Alkermes trading temporarily halted by Nasdaq
Alkermes announced that Nasdaq has temporarily halted trading of the company’s ordinary shares. The joint meeting of the Psychopharmacologic Drugs Advisory Committee and the Drug Safety and Risk Management Advisory Committee, appointed by the U.S. FDA, will meet today to review the company’s New Drug Application for ALKS 5461. ALKS 5461 is a once-daily, oral investigational medicine with a novel mechanism of action for the adjunctive treatment of major depressive disorder in patients with an inadequate response to standard antidepressant therapies.
https://thefly.com/landingPageNews.php?id=2815209
Teva Pharmaceutical beats by $0.13, misses on revenue
Teva Pharmaceutical (NYSE:TEVA): Q3 Non-GAAP EPS of $0.68 beats by $0.13; GAAP EPS of -$0.27 misses by $0.37.
Revenue of $4.53B (-19.4% Y/Y) misses by $20M.
Shares +1.15% PM.
Cigna profit beats on strength in commercial health plan unit
Cigna Corp (CI.N) on Thursday posted a better-than-expected third-quarter profit as the health insurer earned more in premiums and added more members to its commercial health plans.
The company also raised its earnings forecast for the year and now expects full-year adjusted income of $14.20 to $14.40 per share, compared with its prior forecast of $13.60 to $13.90 per share.
Cigna’s commercial medical loss ratio – the amount it spends on medical claims compared to income from premiums – improved to 76.3 percent in the third quarter, from a year-ago ratio of 78.6 percent.
The commercial business, which saw a 3 percent rise in membership to 15.8 million, benefited from corporate and individual health plans sold.
Net income for Cigna shareholders rose to $772 million, or $3.14 per share, in the third quarter ended Sept. 30, from $560 million, or $2.21 per share, a year earlier.
Excluding items, Cigna earned $3.84 per share, above the average analyst estimate of $3.44 per share, according to Refinitiv data.
Cigna, which is buying pharmacy benefit manager Express Scripts Holding Co (ESRX.O) in a $52 billion deal, said total revenue rose 9.2 percent to $11.46 billion.
Eagle Pharmaceuticals reports Q3 adjusted EPS $1.18, consensus 98c
https://thefly.com/landingPageNews.php?id=2815138
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