Thursday, November 8, 2018
Horizon Blue Cross Blue Shield adds Quest Diagnostics as preferred provider
Horizon Blue Cross Blue Shield of New Jersey announced that it is expanding its laboratory network by adding Quest Diagnostics as an in-network provider of diagnostic information services for 2.8M members of Horizon BCBSNJ. Quest has more than 300 patient access points in New Jersey for Horizon BCBSNJ members and will be in network beginning January 1, 2019. Quest will serve all Horizon members with the exception of Horizon BCBSNJ’s managed Medicaid and Dual Eligible Special Needs plan beneficiaries.
https://thefly.com/landingPageNews.php?id=2820373
Lannett ups FY19 revenue $585M-$615M from $580M-$610M, consensus $591.62M
Sees FY19 adjusted gross margin 44%-45%. Still sees 2019 CapEx $30M-$35M.
Jazz Pharmaceuticals: NICE recommends Vyxeos for treatment of AML
Jazz Pharmaceuticals announced that the National Institute for Health and Care Excellence has published a Final Appraisal Determination recommending Vyxeos 44 mg/100 mg powder for concentrate for solution for infusion for routine use on the National Health Service in England and Wales for the treatment of adults with newly diagnosed, therapy-related acute myeloid leukaemia or AML with myelodysplasia-related changes – two types of secondary AML.
BeiGene produced ‘strong quarter of commercial execution’, says Piper Jaffray
Piper Jaffray analyst Tyler Van Buren kept his Overweight rating and $200 price target on BeiGene (BGNE) after its Q3 results, saying the company had produced another “strong quarter of commercial execution as the Celgene (CELG) products were up significantly”. The analyst notes that these products’ contribution may be small to overall valuation, but sees their positive performance as a sign of BeiGene’s ability to commercialize future, larger product opportunities in China. Van Buren adds that the NDA filing for zanubrutinib has a “negligible effect” on his valuation.
Wright Medical price target raised to $35 from $32 at Piper Jaffray
Piper Jaffray analyst Matt O’Brien raised his price target for Wright Medical to $35 saying the company posted a Q3 beat with upper extremity outperformance. Further, the lower extremity business continues to “rebound nicely,” showing an acceleration in total ankles up 22% and the core segment demonstrating further market-rate-growth with increased sales force productivity, O’Brien tells investors in a post-earnings research note. He encourages investors to start positions in the name and reiterates an Overweight rating on Wright Medical.
https://thefly.com/landingPageNews.php?id=2820157
Hologic price target lowered to $45 from $48 at Piper Jaffray
Piper Jaffray analyst William Quirk lowered his price target for Hologic to $45 while keeping an Overweight rating on the shares following the company’s fiscal Q4 results. Outside of the Cynosure recalls, the other businesses had solid quarters and third party seller checks support the Cynosure recovery story, Quirk tells investors in a post-earnings research note. The analyst, however, took his estimates to the very low end of management’s guidance and believes investors “can be patient on their entry point.”
https://thefly.com/landingPageNews.php?id=2820159
Ultragenyx upgraded to Neutral from Sell at Citi
Ultragenyx upgraded to Neutral from Sell at Citi. Citi analyst Yigal Nochomovitz upgraded to Neutral and raised his price target for the shares to $54 from $46.
https://thefly.com/landingPageNews.php?id=2820171
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