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Downgrades

Incyte Downgraded – Analyst Notes Intense Competition, Particularly In Larger Markets

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Truist Securities has downgraded Incyte Corporation (NASDAQ:INCY), noting Jakafi’s (ruxolitinib) patent loss approaching in 2028. Jakafi is Incyte’s top-selling drug. It is indicated for polycythemia vera in adults, intermediate or high-risk myelofibrosis in adults, and steroid-refractory acute graft versus host disease in adult and pediatric patients. In second quarter 2024, the drug generated sales of $705.9 […]
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Downgrades

Moderna Faces Analyst Downgrades Amid Revised R&D Restructured Strategy and Delayed Profitability Target

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Thursday, Moderna Inc (NASDAQ:MRNA) unveiled key updates at its annual R&D Day by reducing annual R&D spending by $1.1 billion by 2027, enabling a focus on ten prioritized products. The company expects R&D expenses to fall from $4.8 billion in 2024E to $3.6 billion—$3.8 billion in 2027. The strategy, expanding its portfolio into oncology and rare diseases, positions […]
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Downgrades

Halliburton At A Disadvantage, Analyst Says: Schlumberger And Baker Hughes ‘In Better Position’

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Earlier this month, Halliburton Company (NYSE:HAL) said that a cyberattack had disrupted its critical business applications. A lower overall revenue diversification puts the company at a disadvantage against the backdrop of a tepid commodity macro, according to RBC Capital Markets. Analyst Keith Mackey downgraded the rating for Halliburton from Outperform to Sector Perform, while slashing […]
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Downgrades

ADHD Drug Maker Supernus Pharmaceuticals Downgraded On Slower Prescription Growth For Its Top-Selling Drug

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Piper Sandler downgraded Supernus Pharmaceuticals Inc (NASDAQ:SUPN), saying that the anticipated surge in Qelbree prescriptions during the back-to-school season has not materialized as expected. “That has us rethinking our assumptions regarding the longer-term (LT) sales/volume growth trajectory of the product,” the analyst adds. Qelbree (viloxazine) is indicated to treat attention deficit hyperactivity disorder in children […]
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Downgrades

Relay Therapeutics Faces Downgrade Over Efficacy Concerns in Competitive PI3K Inhibitor Market

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Monday, Relay Therapeutics Inc. (NASDAQ:RLAY) shared interim data for RLY-2608 from the ReDiscover study of RLY-2608 alone, in combination with fulvestrant, and in combination with fulvestrant and ribociclib or atirmociclib (Pfizer Inc’s PFE selective CDK4 inhibitor). The clinical benefit rate (CBR) was 57% in heavily pretreated patients. RLY-2608 is a pan-mutant and isoform-selective inhibitor of PI3Kα. Oppenheimer downgraded Relay Therapeutics, […]
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Downgrades

Methanex Analyst Says $2B Acquisition Will Be An Overhang On Shares

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Shares of Methanex Corp (NASDAQ:MEOH) have been on a downtrend since the company announced it had inked a definitive agreement to buy OCI Global‘s international methanol business. Concerns around the transaction risks associated with the acquisition are unlikely to be “easily assuaged” in the near term, according to Barclays analyst Mike Leithead. Leithead downgraded the […]
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Downgrades

These 3 Real Estate Stocks Attract Rating, Forecast Changes By Analysts

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Investors buy shares in real estate companies for exposure to property with a lower outlay but the same returns. Camden Property Trust RBC Capital Markets analyst Brad Heffern downgraded the ratings for Camden Property Trust (NYSE:CPT) from Outperform to Sector Perform, while keeping the price target at $122. While Camden Property Trust reported stronger-than-expected July […]
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