First Analysis analyst Steven Schwartz downgraded Cambrex to Outperform from Strong Buy while raising his price target for the shares to $55 from $45. The company’s valuation multiple is now in-line with peers following the recent share price appreciation, Schwartz tells investors in a research note. He sees less near-term upside given the expected decline in Cambrex’s Gilead business through 2020 and his view that “financially significant” revenue synergies from the recent acquisitions will be realized over a mid- to longer-term time horizon.
Tuesday, May 7, 2019
Allergan sees Q2 adjusted EPS $4.20-$4.40, consensus $4.20
Sees Q2 revenue $3.85B-$4B, consensus $3.87B.
Premier reports Q3 adjusted EPS 66c, consensus 65c
Reports Q3 revenue $422.9M, consensus $433.25M. “Our fiscal third-quarter results reflect the timing-related impact of revenue recognition under the new ASC 606 revenue standard, continuing headwinds in our products business, and, to a lesser extent, incremental investments in future growth opportunities that we believe will enhance our core capabilities across the supply chain, enterprise analytics and performance improvement businesses,” said Susan DeVore, chief executive officer. “While our results are consistent with our expectation that the second half of our fiscal year would be less profitable than the first half, we remain on track to deliver full fiscal-year 2019 results within our previously disclosed guidance ranges. We are actively managing Premier’s portfolio, as underscored by our decision to exit the specialty pharmacy business, and focusing on our core capabilities to deliver best-in-class solutions for our member health systems and sustainable, long-term value creation for stockholders. The company’s flexible balance sheet and strong cash flow provide a solid foundation and support our balanced approach to pursuing both organic and external growth opportunities while returning capital to stockholders. The board’s decision to authorize a new $300.0 million stock repurchase program underscores its continued confidence in our strategy.”
Dova Pharmaceuticals reports Q1 EPS (58c), consensus (67c)
Reports Q1 revenue $4M, consensus $3.72M. “Since refining our commercial strategy in December, we have become increasingly confident in the potential opportunities for DOPTELET as a treatment for thrombocytopenia. We are also encouraged by the initial feedback on our revised marketing and sales activities, which we expect to drive DOPTELET sales,” said Dr. David Zaccardelli, President and Chief Executive Officer of Dova. “In addition, we have made significant progress in our commercial preparation for the potential FDA approval of DOPTELET for the treatment of chronic ITP. With experienced clinical and commercial teams and a strong cash position, Dova remains well positioned to bring DOPTELET to patients across multiple indications.”
Citi sees low likelihood of Centene walking from WellCare deal
Amid reports suggesting shareholders could challenge Centene’s (CNC) acquisition of WellCare (WCG), and Humana (HUM) possibly being interested in a takeover of Centene if the WellCare deal was dropped, Citi analyst Ralph Giacobbe says he’s be surprised to see the deal unravel. Further, he’d be equally surprised to see Humana come over the top for Centene after its Medicaid win in Florida and recent commentary citing optimism in its organic direction. That said, there is a scarcity of Medicaid assets, and Humana has discussed its interest in dual and other higher acuity Medicaid populations, Giacobbe tells investors in a research note. Nonetheless, the analyst ultimately sees a low likelihood of Centene walking from the WellCare deal.
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