Buy CVS Health (CVS) on EpiPen-Related Weakness - Leerink
- Wall Street falls as investors ready for Trump's inauguration
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
- Skyworks Solutions (SWKS) Tops Q1 EPS by 3c, Offers Q2 Guidance, Announces Buyback
- After-Hours Stock Movers 01/19: (SWKS) (QRVO) (NVAX) Higher; (AFMD) (SGYP) (IBM) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Leerink analyst David Larsen recommends buying CVS Health (NYSE: CVS) on weakness related to EpiPen pressure.
Larsen commented, "Shares of ESRX (MP) and CVS (OP) are coming under pressure this morning, we think due mainly to commentary around Mylan’s (OP) EpiPen. Numerous news agencies are reporting that the price-hikes of EpiPen have been dramatic. Some news agencies are reporting that the list price of EpiPen has increased by ~548% since 2007 to $608 in May. Mylan’s CEO stated this morning on CNBC that the ‘net price’ the Mylan receives is $274 and the reason there is such a large discrepancy between the “list” and “net” price is the “5 hands the product goes through” before it gets to the patient. This obviously implies that CVS and ESRX, as the PBMs are reaping significant profits from EpiPen and as a result there shares of CVS and ESRX are coming under pressure."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deckers Outdoor (DECK) Bear Poser at Susquehanna Modestly Lifts Numbers
- Target cuts earnings forecast due to weak holiday sales
- UPDATE: SunTrust Starts Esterline Tech (ESL) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Trader Talk
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!