Following meetings at American Academy of Orthopaedic Surgeons this week, Baird analyst Jeff Johnson said that Stryker (SYK) remained the “clear robotics leader,” and added that Smith & Nephew (SNN), Zimmer Biomet (ZBH), and to a lesser extent Johnson & Johnson (JNJ) were all “making progress.” The analyst came away most positive on Stryker, due to momentum in multiple pipelines, and Wright Medical (WMGI), due to its core business strength and its intriguing pipeline. Johnson has an Outperform rating and $201 price target on Stryker, and Outperform rating and $36 price target on Wright Medical Group.
https://thefly.com/landingPageNews.php?id=2879845
Friday, March 15, 2019
Synthorx initiated at SVB Leerink
Synthorx initiated with an Outperform at SVB Leerink. SVB Leerink initiated Synthorx with an Outperform and $27 price target.
https://thefly.com/landingPageNews.php?id=2879849
https://thefly.com/landingPageNews.php?id=2879849
Wells Fargo sees increased likelihood of Walgreens cutting FY19 outlook
Wells Fargo analyst Peter Costa reduced his estimates for Walgreens Boots Alliance to reflect greater headwinds from reimbursement pressure, less deflation of generics, a weaker flu season, and potentially slowed tobacco-related sales. It seems increasingly likely that the company may lower its fiscal 2019 outlook, Costa tells investors in a research note. He points out that at a recent competitor conference, management did not provide an update to its earnings outlook, but highlighted reimbursement pressure as a bigger headwind as well as less deflation of generics. Costa dropped his price target for Walgreens Boots Alliance to $75 from $82 but keeps an Outperform rating on the name.
https://thefly.com/landingPageNews.php?id=2879881
https://thefly.com/landingPageNews.php?id=2879881
Fluidigm initiated at UBS
Fluidigm initiated with a Neutral at UBS. UBS analyst Daniel Brennan started Fluidigm with a Neutral rating and $14 price target. After the 100% rally since the December 2018 secondary, and 60% rise year-to-date, the stock is fairly valued, Brennan tells investors in a research note. The analyst prefers to wait for a better entry point.
Merck KGaA downgraded to Neutral from Buy at UBS
UBS analyst Michael Leuchten downgraded Merck KGaA to Neutral from Buy saying the stock’s valuation is now close to his sum-of-the parts analysis. The analyst believes near-term catalysts are now priced into the shares. He lowered his price target for Merck KGaA to EUR 108 from EUR 115.
Spectrum withdraws BLA for ROLONTIS, will submit revised BLA
Spectrum Pharmaceuticals announced that due to the U.S. Food and Drug Administration’s request for additional manufacturing-related information for ROLONTIS, the company has voluntarily withdrawn its Biologics License Application. Spectrum plans to resubmit a revised BLA as soon as possible. The FDA did not cite concerns related to the pre-clinical and clinical modules of the BLA or the need for additional clinical studies. Spectrum’s decision to withdraw the BLA was the result of the company needing more time to provide certain additional manufacturing-related information, which was required before March 29, 2019, the day that the FDA’s initial 60-day review period ends. ROLONTIS is being evaluated as a novel therapy for the management of chemotherapy-induced neutropenia in patients undergoing myelosuppressive chemotherapy.
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