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

Eli Lilly & Co. (LLY), ImaginAb Enter T-Cell-Based Immuno-Oncology Therapy Research Collaboration

October 13, 2015 7:01 AM EDT

Eli Lilly & Co. (NYSE: LLY) and ImaginAb Inc. are pleased to announce a preclinical research collaboration to study potential novel T-cell-based immuno-oncology therapies.

Per the agreement, ImaginAb will conduct preclinical research using its immune imaging agent, IAB22M2C (a clinical anti-human CD8 probe), to detect T-cell trafficking, redirection and infiltration in response to Lilly oncology molecules. ImaginAb maintains full rights to its proprietary imaging agents used as... More

Market Wrap: Dell Makes it Official with EMC; Lilly Hit on Drug Halt; Ferrari IPO Revs up

October 12, 2015 5:20 PM EDT

Market wrap for October 12th

End of the Day: S&P 500 up 2.6 to 2,017.46; Dow Jones up 47.4 to 17,131.86; Nasdaq up 8.2 to 4,838.64

Market Brief: Dell moved to acquire EMC in a deal valued around $67 billion.

Fiat is moving forward with its IPO for Ferrari.

Lilly hit amid plans to discontinue evacetrapib development.

Magnum Hunter is going to look at alternatives.

Gold rose 1.0 percent to $1,115.90 per ounce and oil fell 5.3 percent to $49.86 per barrel.

* Michael S. Dell, founder,... More

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

October 12, 2015 3:07 PM EDT

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

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

October 12, 2015 11:30 AM EDT

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

October 12, 2015 11:12 AM EDT

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)

October 12, 2015 10:14 AM EDT

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

Pre-Open Stock Movers 10/12: (ESPR) (OREX) (EMC) Higher; (MHR) (SIEN) (LLY) Lower (more...)

October 12, 2015 9:31 AM EDT

Magnum Hunter Resources (NYSE: MHR) 37.9% LOWER; announced that it has hired PJT Partners LP (NYSE: PJT) (the combination of Blackstone's advisory businesses and PJT Capital LP, a global financial advisory firm founded by Paul J. Taubman), as financial advisor, and Kirkland & Ellis LLP, as special legal advisor, to advise management and the Company's Board of Directors regarding potential strategic alternatives to enhance liquidity and address the Company's current capital structure. As previously disclosed, the Company has actively worked to manage its balance sheet,... More

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

October 12, 2015 9:13 AM EDT

News Eli Lilly (NYSE: LLY) plans to halt development of evacetrapib, a CETP inhibitor, has positive implications for PCSK-9 -related stocks and Esperion Therapeutics (NASDAQ: ESPR), said RBC analyst Michael J. Yee.

Yee explained, "The CETP class of drugs has been the primary competitive threat to other drugs like AMGN (Nasdaq: AMGN), REGN's (Nasdaq: REGN) PCSK-9 drugs now approved and ESPR's Phase III oral drug ETC-1002. Recall there is also one... More

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

October 12, 2015 8:15 AM EDT

(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 Terminate Evacetrapib Development; Sees Charges

October 12, 2015 8:01 AM EDT

Eli Lilly & Co. (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 based its... More

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

October 12, 2015 8:01 AM EDT

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

Eli Lilly & Co. (LLY) halted with news pending

October 12, 2015 7:41 AM EDT

Eli Lilly & Co. (NYSE: LLY) trading halted with news pending.

... More

Wall St. ends up slightly as focus turns to earnings

October 12, 2015 7:15 AM EDT

By Caroline Valetkevitch

(Reuters) - Gains in utilities offset a retreat in energy shares on Monday, leaving U.S. stocks slightly higher as investors remained nervous about third-quarter corporate results.

The Dow rose for a seventh straight session, led by gains in UnitedHealth Group (NYSE: UNH), which rose 2.7 percent at $122.51.

This week brings results from some top U.S. banks, among other companies, and investors are eyeing a projected 4.8 percent year-over-year decline in third-quarter S&P 500 earnings, according to Thomson Reuters data. That would be the worst earnings season in six... More

Eli Lilly & Co. (LLY), Innovent Biologics to Expand Drug Development Collaboration

October 12, 2015 6:25 AM EDT

Eli Lilly & Co. (NYSE: LLY) and Innovent Biologics, Inc. (Innovent) today announced an expansion of their drug development collaboration, already one of the largest in China between a multi-national and domestic biopharmaceutical company.

Below are details of the expanded agreement:

The companies will collaborate to support the development and potential commercialization of up to three anti-PD-1 based bispecific antibodies for cancer treatments over the next... More

Eli Lilly & Co. (LLY) Acquires Rights to Locemia's Intranasal Glucago

October 9, 2015 4:01 PM EDT

Eli Lilly and Company (NYSE: LLY) and Locemia Solutions today announced Lilly has acquired worldwide rights to Locemia's intranasal glucagon, a potential treatment for severe hypoglycemia in people with diabetes treated with insulin. Intranasal glucagon, which is currently in Phase III clinical trial testing, could be the first needle-free rescue treatment for severe hypoglycemia.

Intranasal glucagon uses a proprietary glucagon nasal powder formulation that is delivered in an emergency... More

Notable Analyst Rating Changes 10/9: (ALB) (MT) (RPD) Upgraded; (FEYE) (TSLA) (PCAR) Downgraded

October 9, 2015 11:00 AM EDT

UPGRADES
Goldman Sachs boosts Albemarle (NYSE: ALB) from Buy to Conviction Buy with a price target of $63.... More

Eli Lilly & Co. (LLY) Plans Expansion of NYC R&D Site

October 9, 2015 7:03 AM EDT

Eli Lilly & Co. (NYSE: LLY) announced plans to add 30,000 square feet and approximately 50 new jobs to its research and development presence at the Alexandria Center for Life Science in New York, New York.

Upon completion in 2016, this space will include a translational immuno-oncology hub and a Lilly "portal," which will provide local academic scientists with opportunities for collaborative access to cutting-edge drug discovery capabilities, including chemistry and lead optimization expertise.

"Going forward, immuno-oncology... More

Credit Suisse Upgrades Eli Lilly (LLY) to Outperform

October 9, 2015 6:36 AM EDT

Credit Suisse upgraded Eli Lilly (NYSE: LLY) from Neutral to Outperform with a price target of $105.00 (from $89.00).

Analyst V. Divan commented, "LLY has outperformed both the S&P and its peers but we see a high probability of further outperformance ahead. Our proprietary... More