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Thursday, July 11, 2019

Weight Watchers +6% after JPMorgan moves off bearish stance

JPMorgan lifts Weight Watchers (NASDAQ:WW) to a Neutral rating from Underweight after seeing stabilizing subscriber trends at the company.
The firm bumps up its price target to $22 vs. the sell-side average PT of $25.45.
Shares of WW are up 6.23% premarket to $23.20 to cut into the 43% YTD decline.

Walgreens expands retail access to kaléo’s epinephrine

Walgreens (NASDAQ:WBAannounces the availability of privately held kaléo’s AUVI-q (epinephrine injection, USP) 0.10 mg auto-injector at its retail pharmacies nationwide. This formulation is the only one approved in the U.S. for treating emergency allergic reactions in infants and toddlers weighing 16.5 – 33 pounds. The product will be available at no cost to commercially insured patients and those eligible for kaléo’s patient support programs.
Walgreens also stocks the 0.15 mg and 0.30 mg formulations for older patients.
WBA is up 2% premarket on the Trump administration’s withdrawal of its proposal to curb PBM drug rebates.
Competitor Mylan N.V. (NASDAQ:MYL) was under pressure yesterday on the continue shortage of EpiPen. Shares are down a fraction premarket.
Related ticker: Teva Pharmaceutical Industries (NYSE:TEVA) (-1% premarket)

FDA OKs Abbott’s Alinity

The FDA approves Abbott’s (ABT -0.2%) Alinity system for screening blood and plasma. The company says the instrument can process up to 600 tests per hour while requiring less space than other systems in its class.

Weight Watchers upped to Neutral from Underweight by JPMorgan

Target to $22 from $17

Stryker target upped to $232 from $200 at Credit Suisse

Maintains Outperform

Spectrum Pharma started at Buy by B. Riley

Target $18

Navidea started at Buy by Maxim

https://www.benzinga.com/stock/NAVB/ratings