UBS analyst Whit Mayo upgraded DaVita to Neutral from Sell while lowering his price target for the shares to $59 from $64. The recent weakness in the shares drives a better risk/reward profile, Mayo tells investors in a research note. The analyst, however, continues to sees structural concerns with payer mix and points out that record industry capacity is for sale.
Tuesday, January 8, 2019
Novartis therapy crizanlizumab receives FDA Breakthrough Therapy designation
https://thefly.com/landingPageNews.php?id=2845124
Molina Healthcare upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Gary Taylor upgraded Molina Healthcare to Overweight.
Exelixis: partner Daiichi Sankyo receives regulatory approval for MINNEBRO
Exelixis announced that its partner Daiichi Sankyo Company, received approval from the Japanese Ministry of Health, Labour and Welfare for esaxerenone tablets, MINNEBRO 1.25 mg, 2.5 mg, and 5 mg, as a treatment for patients with hypertension. This approval allows for the marketing of MINNEBRO for this indication within Japan. MINNEBRO is a compound identified during the prior research collaboration between Exelixis and Daiichi Sankyo, which the companies entered into in March 2006, and has been subsequently developed by Daiichi Sankyo. Per the collaboration agreement between Exelixis and Daiichi Sankyo, Exelixis will receive a $20M milestone payment upon the first commercial sale of MINNEBRO in Japan. Exelixis previously received a $20M milestone payment in the first quarter of 2018 triggered by the filing of Daiichi Sankyo’s associated regulatory application. Exelixis is eligible for substantial commercialization milestones, as well as low double-digit royalties on sales of MINNEBRO. Since the conclusion of Exelixis and Daiichi Sankyo’s joint research period in November 2007, Daiichi Sankyo has been responsible for all subsequent preclinical and clinical development, and also oversees regulatory, manufacturing and commercialization activities for MINNEBRO.
Allergan does not offer attractive risk/reward profile, says Piper Jaffray.
In the absence of “transformational change,” Allergan is not well positioned for value recovery “anytime soon,” Piper Jaffray analyst David Amsellem tells investors in a research note. And senior management, at a recent investor conference, made it clear that it is not looking at transformational change, says Amsellem. He believes Allergan’s commercial portfolio is facing “myriad headwinds” and continues to have concerns surrounding the extent to which the pipeline will contribute to its sales over time. The analyst does not believe Allergan shares represent an attractive risk/reward profile at current levels. He reiterates a Neutral rating on the name with a $164 price target.
Integra LifeSciences sees preliminary Q4 revenue at higher end of $378M-$383M
Q4 revenue is expected to be at the higher end of the company’s previous guidance range of $378M-$383M.
Amarin price target lowered to $20 from $28 at Citi
Citi analyst Joel Beatty lowered his price target for Amarin to $20 after the company’s 2019 revenue guidance came in lower than he expected. The analyst, however, continues to view Vascepa as an “attractive and differentiated cardiovascular risk reduction therapy.” His peak sales estimate is now $2.5B, down from $3.0B previously.
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