Lilly's (LLY) CETP Inhibitor Disappointment Seen as Positive for Esperion (EPSR) and PCSK-9, Says RBC (REGN) (AMGN) (SNY) (MDCO) (MRK)

Piper Jaffray Cuts Price Target on Eli Lilly & Co. (LLY) Following Announced Discontinuation of Evacetrapib

Piper Jaffray reiterated an Overweight rating on Eli Lilly (NYSE: LLY), and cut the price target to $118.00 (from $120.00), following the company's announced discontinuation of its CETP inhibitor evacetrapib. LLY's stock fell by 7.8% following the announcement.

Analyst Richard Purkiss commented, "Yesterday, LLY's stock fell by 7.8%... More

Amgen (AMGN), UCB Offer Additional Data from Romosozumab Phase 2

Amgen (NASDAQ: AMGN) and UCB presented additional findings from an exploratory sub-study of the previously reported romosozumab Phase 2 trial.1 The findings were presented today in an oral plenary session at the American Society for Bone and Mineral Research (ASBMR) 2015 Annual Meeting in Seattle.

The small exploratory sub-study data showed that, at month 12, the investigational bone-forming agent romosozumab increased estimated bone strength (percent change from baseline) at the spine and hip more than open-label teriparatide in postmenopausal women with low bone mass. These results were measured by a validated method called finite element analysis (FEA), which... More

Eli Lilly (LLY) ACCELERATE Trial Proves 'Modestly Positive' for Esperion Therapeutics (ESPR) LDL Hypothesis - Stifel

Stifel analyst Thomas Shrader weighed in on Esperion Therapeutics (NASDAQ: ESPR) following what he called "confusion in the world of LDL lowering drugs" after the ACCELERATE trial for the CETP inhibitor evacetrapib has been stopped for futility by its sponsor Eli Lilly (NYSE: LLY). Shrader said what seems less understood is that "based on this trials inclusion and exclusion criteria, this trial involved patients with controlled... More

Discontinuation of Evacetrapib Study Could Provide Modest Boost to Esperion's (ESPR) ETC-1002

Chardan Capital affirms Esperion Therapeutics (Nasdaq: ESPR) at Neutral with a price target of $18 after Eli Lilly & Co. announced that it and the ACCELERATE study's academic leadership have accepted the recommendation of the independent data monitoring committee to terminate the Phase 3 trial of the investigational medicine evacetrapib, due to insufficient efficacy. Lilly will discontinue... More

Eli Lilly's (LLY) Reaction to Disappointing Evacetrapib Data Appears 'Overdone', Says BofA/ML

BofA/Merrill Lynch maintained a Buy rating on Eli Lilly (NYSE: LLY) but lowered its price target to $104.00 (from $108.00). Analyst Colin Bristow said while he expected the stock to react negatively to news Lilly halted development of evacetrapib, the initial reaction appears overdone and... More

Eli Lilly (LLY) Eva Failure Increases Dependence on Sola, BMO Capital Notes

BMO Capital analyst Alex Arfaei reiterated a Market Perform rating and $90 price target on Eli Lilly (NYSE: LLY) after the company announced it would discontinue development of Evacetrapib in CV disease because of low efficacy. The firm called the news a "negative" although they... More

Eli Lilly's (LLY) Hold Rating Maintained at Deutsche Bank (MRK) (AMGN)

Deutsche Bank maintained a Hold rating on Eli Lilly (NYSE: LLY) with a price target of $85. Shares declined following evacetrapib's failure, but sales were not factored into analyst Gregg Gilbert's estimates. Overall he is cautious on the CETPi class of drugs.

"LLY announced today the discontinuation... More

UPDATE: Esperion (ESPR), Others Gains After Lilly Halts Development of Evacetrapib; Merch (MRK) Falls

(Updated - October 12, 2015 8:30 AM EDT)

Esperion Therapeutics (NASDAQ: ESPR) gained pre-market Monday after Eli Lilly & Co. (NYSE: LLY) discontinued development of Evacetrapib. Other gainers include makers of PCSK9 cholesterol drugs Regeneron (NASDAQ:... More

Eli Lilly & Co. (LLY) to Discontinue Development of Evacetrapib

Eli Lilly and Company (NYSE: LLY) and the ACCELERATE study's academic leadership have accepted the recommendation of the independent data monitoring committee to terminate the Phase 3 trial of the investigational medicine evacetrapib, due to insufficient efficacy. Lilly will discontinue development of evacetrapib for the treatment of high-risk atherosclerotic cardiovascular disease and will now conclude other studies in the program.

The independent data monitoring committee... More