Fri, Oct. 2, 8:09 AM
- Concordia Healthcare (NASDAQ:CXRX) initiated with Outperform rating and $86 (90% upside) price target by RBC.
- Mednax (NYSE:MD) initiated with Buy rating and $88 (15% upside) price target by Mizuho Securities.
- Valeant Pharmaceuticals (NYSE:VRX) initiated with Buy rating and $290 (61% upside) price target by B of A Merrill Lynch. Downgraded to Equal Weight from Overweight by Morgan Stanley with price target of $200 (11% upside) down from $284.
- Endo International (NASDAQ:ENDP) initiated with Buy rating and price target of $88 (26% upside) by Deutsche Bank.
- Celgene (NASDAQ:CELG) upgraded to Overweight from Neutral with $152 (35% upside) price target by JP Morgan.
- Cerner (NASDAQ:CERN) upgraded to Outperform from Sector Perform by RBC. Price target raised to $70 (17% upside) from $68.
- Bristol-Myers Squibb (NYSE:BMY) upgraded to Buy from Neutral by UBS. Price target raised to $75 (25% upside) from $65.
- Johnson & Johnson (NYSE:JNJ) upgraded to Buy from Hold by Deutsche Bank. Price target maintained at $110 (18% upside).
- Vertex Pharmaceuticals (NASDAQ:VRTX) upgraded to Buy from Hold by Argus Research. Price target maintained at $126 (18% upside).
- Ilumina (NASDAQ:ILMN) downgraded to Market Perform from Outperform by Leerink. Price target lowered to $185 (18% upside) from $225.
- Fibrocell Science (NASDAQ:FCSC) downgraded to Neutral from Outperform by Wedbush. Price target lowered to $6 (61% upside) from $7.
Mon, Sep. 28, 4:03 PM
- Endo International (NASDAQ:ENDP) completes is $8.05B acquisition of Par Pharmaceutical Holdings. The transaction consisted of $6.5B in cash plus ~18M shares of Endo common stock.
- Endo's revised Q3 guidance calls for revenues of $720M - 740M. Its updated 2015 guidance calls for revenues of $3.22B - 3.27B and non-GAAP EPS of $4.50 - 4.60 versus the previously announced range of $4.40 - 4.60.
- The company estimates 2016 non-GAAP EPS at $5.85 - 6.15.
Wed, Sep. 23, 9:05 AM
- The USPTO's Patent Trial and Appeal Board (PTAB) confirms the patentability of all 23 claims of Depomed's (NASDAQ:DEPO) U.S. Patent Nos. 6,340,475 and 6,635,280 in an inter partes review initiated by Endo Pharmaceuticals (NASDAQ:ENDP). The decision allows Depomed to continue its patent infringement case against Endo related to OPANA ER (oxymorphone HCl).
Mon, Sep. 21, 6:52 PM
- Wynn Resorts (NASDAQ:WYNN), Viacom (NASDAQ:VIAB) and Dollar Tree (NASDAQ:DLTR) headline Goldman Sachs' list of 25 companies that could post outsized returns even as more and more stocks are moving in lock-step.
- Goldman’s picks come as return dispersion - the performance gap among stocks - has sunk lately amid turmoil in China and concerns about when the Fed will raise interest rates that has pushed stock correlations to their highest level since 2011.
- Given the low-dispersion setting, Goldman says investors should focus on these 25 stocks that have high “dispersion scores” and 15%-plus upside to the firm’s targets: WYNN, VIAB, DLTR, UAL, LUV, URBN, CBG, JNPR, MPC, NFLX, HBI, SIG, CRM, CERN, VLO, KMX, ENDP, CTSH, ISRG, ETFC, TSN, CCE, CI, REGN, GT
Fri, Sep. 4, 2:36 PM
- BioPharmX (BPMX -0.7%) initiated with a Buy rating and $3.50 (133% upside) price target by Sterne Agee CRT.
- Recro Pharma (REPH +5.3%) initiated with a Buy rating and $19 (30% upside) price target by H.C. Wainwright.
- AcelRx Pharmaceuticals (ACRX +4.1%) initiated with a Buy rating and $8.50 (101% upside) price target by H.C. Wainwright.
- NephroGenex (NRX -0.8%) initiated with a Buy rating and $9 (127% upside) price target by H.C. Wainwright.
- Puma Biotechnology (PBYI -2%) initiated with an Overweight rating and $122 (36% upside) price target by JP Morgan.
- Teledoc (TDOC -7.4%) initiated with an Outperform rating and $35 (68% upside) price target by Leerink Partners.
- Aimmune Therapeutics (AIMT -4.1%) initiated with an Outperform rating and $44 (96% upside) price target by Credit Suisse.
- Endo International (ENDP -2.9%) downgraded to Equal Weight from Overweight by Morgan Stanley. Price target lowered to $85 (18% upside) from $101.
Fri, Aug. 14, 3:45 PM
- The U.S. District Court for the Southern District of New York rules that Actavis, the U.S. generics business of Allergan (AGN -0.4%), infringed on two Endo International (ENDP +2%) patents with its generic version of Endo's OPANA ER (oxymorphone HCl), an opioid agonist for the treatment of pain severe enough to require daily, around-the-clock treatment with an opioid.
- As a result of the ruling, Allergan's generic product will be removed from the market and planned launches from other generic drug makers will be delayed indefinitely.
- Endo filed suit against Actavis in December 2012.
Mon, Aug. 10, 8:38 AM
- Endo (ENDP +2.5%) Q2 results: Revenues: $735.2M (+24.0%); COGS: $438.9M (+44.7%); R&D Expense: $19M (-37.5%); SG&A: $154.5M (+24.2%); Operating Income: $1.5M (-98.6%); Net Loss: ($90.9M) (-323.9%); Loss Per Share: ($0.49) (-296.0%); Quick Assets: $2.5M (+525.0%).
- 2015 Guidance: Total revenue: $2.90B - 3.00B (unch); GAAP EPS: $1.42 - 1.62 from $1.70 - 1.90; non-GAAP EPS: $4.40 - 4.60 (unch).
Mon, Aug. 10, 6:32 AM
Sun, Aug. 9, 5:30 PM
Tue, Jul. 21, 12:03 PM
- Thinly traded micro cap BioSpecifics Technologies (BSTC +1.7%) is up again today. Shares were up over 20% since yesterday morning when the company announced that the Japanese Pharmaceutical and Medical Device Agency approved XIAFLEX (collagenase clostridium histolyticum) for the treatment of Dupuytren's contracture (DC).
- Asahi Kasei Pharma has the rights to develop and market XIAFLEX in Japan via an agreement with Biospecifics partner Endo International (NASDAQ:ENDP). BSTC will receive a milestone payment when the product launches.
- DC is caused by an abnormal accumulation of collagen in the palm of the hand. The thickening of the fibrous tissue underneath the skin causes the fingers to curl. The precise cause is unknown but hereditary factors appear to play a role.
- XIAFLEX was approved in the U.S. for the treatment of DC in February 2010 and Peyronie's disease in December 2013. The European Commission approved it for DC in February 2011 and Peyronie's in February 2015.
Fri, Jun. 19, 9:54 AM
Fri, Jun. 5, 4:19 PM
Mon, May 18, 10:05 AM
- Endo International (ENDP -2.2%) acquires privately-held generic drug maker Par Pharmaceuticals from private equity firm TPG for $8B. The cash-and-stock deal consists of 18M ENDP shares and $6.5B in cash, including the assumption of debt.
- Par markets a portfolio of almost 100 products. The generics business of the combined companies will rank in the top five in terms of U.S. sales.
Mon, May 11, 9:43 AM
- Endo (ENDP -1.2%) Q1 results: Revenues: $714.1M (+51.7%); COGS: $384.3M (+80.7%); R&D Expense: $17.9M (-42.1%); SG&A: $211.6M (+32.2%); Operating Income: $45.7M (+108.7%); Net Income: $150.5M (+417.5%); EPS: $0.85 (+329.7%); Quick Assets: $377.5M (-7.7%).
- 2015 Guidance: Total revenue: $2.90B - 3.00B; GAAP EPS: $1.70 - 1.90 from $2.73 - 2.93; non-GAAP EPS: $4.40 - 4.60 from $4.35 - 4.55.
Mon, May 11, 9:01 AM
- Endo International (NASDAQ:ENDP) acquires a broad portfolio of branded and generic injectable and established drugs from a subsidiary of Aspen Holdings, a publicly traded firm in South Africa, for $130M. The products include pain and cardiovascular medications, anti-infectives and other specialty therapeutic areas.
- The products generated ~$28M in top-line sales in South Africa for the 12-month period ending June 30, 2014. The transaction also includes a pipeline of candidates that should launch in the next few years.
- Endo will fold the business into its Litha Healthcare Group. It is expected to increase Litha's pro-forma 2015 revenues by 30%.
- The deal should close in Q3.
Mon, May 11, 7:02 AM
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