BIG = Reports Q3 revenue $1.16B, consensus $1.16B. Reports Q3 SSS down 0.1%. Bruce Thorn, President and CEO of Big Lots stated, “We are pleased to have delivered operating results in line with our guidance, while strengthening our balance sheet with the proceeds from the sale of our California distribution center. I’m also highly encouraged by the progress we are making on our transformational strategies, as part of Operation North Star, to drive profitable long-term growth and deliver value to our shareholders. After a year of restructuring and transition in 2019, and despite the ongoing impact of tariffs, we expect to return to EBIT and EPS growth in 2020, including significant improvement in normalized free cash flow.”
Current price is $23.77
Sierra Oncology, Inc. (Nasdaq: SRRA), a late-stage drug development company focused on the development and commercialization of momelotinib, a JAK1, JAK2 & ACVR1 inhibitor with a potentially differentiated therapeutic profile for the treatment of myelofibrosis, today announced that it will host an Analyst & Investor Event on Sunday, December 8th at 7:00 am ET to discuss newly reported clinical data for momelotinib that will be presented at the 61st American Society of Hematology (ASH) Annual Meeting in Orlando, Florida.
The event will be led by Dr. Nick Glover, President and CEO of Sierra Oncology, and will include a presentation by renowned myelofibrosis expert, Dr. Ruben Mesa, Director of the Mays Cancer Center, home to UT Health San Antonio MD Anderson Cancer Center. Dr. Mesa and members of Sierra Oncology’s senior management team will be available to answer questions at the conclusion of the event.
New analyses of RBC transfusion data from SIMPLIFY-1, a double-blind Phase 3 trial of Sierra’s investigational drug momelotinib head-to-head versus ruxolitinib in JAK inhibitor naïve patients, will be presented in a poster by Dr. Mesa on Saturday, December 7th at the ASH Annual Meeting. These analyses demonstrate that patients who received momelotinib had significantly decreased transfusion requirements compared to those treated with ruxolitinib, including a nearly 10-fold higher odds of receiving no transfusions during the 24-week study period.
On December 5, 2019, Oppenheimer analyst Jay Olson initiated coverage of Sierra Oncology with an Outperform rating and $1.20 price target. He sees “significant commercial potential” for the company’s main asset, momelotinib, viewing it as as well positioned to secure second-line treatment of myelofibrosis patients previously treated with a JAK inhibitor, Olson tells investors.
Current price is $0.47.
TTD = Needham analyst Laura Martin upgraded Trade Desk to Buy from Hold with a $325 price target. The analyst cites the rising value of advertising reach, with GroupM estimating that demand of U.S. ads will rise by 10%, including a $10B contribution from political ads during an election year. Concurrently, Martin notes that ad impressions will decline, as more viewing hours move outside of linear TV to SVOD services. The analyst also sees Trade Desk well positioned as a “pure play” on digital advertising growth, citing Kantar survey of CMOs suggesting that over 80% of marketers intending to increase their online video advertising investment.
Current price is $253.
ULTA = Ulta Beauty reports Q3 EPS $2.25, consensus $2.13. Reports Q3 revenue $1.68B, consensus $1.69B. Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 3.2% compared to an increase of 7.8% in the third quarter of fiscal 2018. The 3.2% comparable sales increase was driven by 2.3% transaction growth and 0.9% growth in average ticket. “Our differentiated model is winning in the marketplace,” said Mary Dillon, Chief Executive Officer. “The Ulta Beauty team delivered another quarter of solid top-line performance, gross margin expansion, and EPS growth, despite the current challenges facing the U.S. cosmetics category. We continue to gain market share across all major beauty categories, and we are extending our leadership position by creating stronger connections with our guests and engaging with them in better and more exciting ways.”
JPMorgan analyst Christopher Horvers raised his price target for Ulta Beauty to $326 from $317 citing the company’s “much better than expected” Q3 earnings report and maintained Q4 outlook. The analyst believes hurdles are being cleared the stock to re-rate higher. He keeps an Overweight rating on Ulta Beauty shares.
Stifel analyst Mark Astrachan noted that Ulta Beauty reported “better than feared” Q3 results, but he also said the company gave what he views as “directionally cautious commentary” on FY20, calling out expectations for category weakness in makeup to continue and stating that it will make “thoughtful choices” regarding investments. Ulta also highlighted that it anticipates a more promotional beauty category this holiday, noted Astrachan, who sees heightened uncertainty about category growth and competition to keep shares range-bound after what may be a “relief rally.” He keeps a Hold rating on Ulta, but raised his price target on the shares to $230 from $215.
Citi analyst Kelly Crago says Ulta Beauty reported better than expected Q3 results due to stronger gross margin. And while management lowered Q4 guidance, the outlook is still much better than feared, Crago tells investors in a research note. She raised her price target for the shares to $242 from $240 and keeps a Neutral rating on the name. Not much has changed since last quarter, as prestige cosmetics continues to be pressured and management expects it to remain challenged in 2020, contends the analyst. Until visibility into an inflection in prestige cosmetics, she expects the shares to be range-bound.
Wells Fargo analyst Ike Boruchow raised his price target for Ulta Beauty to $250 from $235 and maintained a Market Perform rating, saying Ulta “surprised” the Street by delivering a solid EPS beat despite a worsening macro backdrop. While Boruchow says Q4 numbers are coming down “a touch,” the FY guidance was held, and given the stock was pricing in a cut, he expects shares to rally on the print.
Current price is $256.95.
DOMO = Cowen analyst J. Derrick Wood raised his price target on Domo to $35 from $28 following solid Q3 results. The analyst noted a solid upside to estimates and guidance which was above consensus as new initiatives took hold. He said it led to stronger retention rates and heightened sales productivity despite minor shifts in the GTM strategy. Wood reiterated his Outperform rating on Domo shares.
Current price is $23.05
BIOC = Still attracting buyers after December 3, 2019, press release about presentation at SABCS, and new product launch.
On December 3, 2019, Biocept, Inc. (NASDAQ: BIOC), a leading commercial provider of molecular offerings designed to provide physicians with clinically actionable information to improve the outcomes of patients diagnosed with cancer, announces that clinical data supporting the use of its Target Selector™ CTC platform as an aid in the monitoring and treatment of breast cancer will be presented in a poster session at the 2019 San Antonio Breast Cancer Symposium® (SABCS). The Symposium is being held December 10-14, at the Henry B. Gonzalez Convention Center in Austin, Texas.
On November 21, 2019, the company announced the commercial availability of its Target Selector™ pan-TRK assay for the detection of TRK proteins. With the Biocept assay, a simple blood sample can help inform physicians on the potential presence of NTRK fusions, which are actionable biomarkers that can be used to qualify patients for treatment with TRK inhibitor therapies. With the launch of this new assay, Biocept now offers 20 CLIA-certified liquid biopsy tests utilizing its Target Selector™ platform to determine the status of actionable solid tumor biomarkers.
Current price is $0.57.
ALXN = Shares of Alexion Pharmaceuticals are up 6% to $114.00 in pre-market trading after the company earlier disclosed that it had “recently engaged in good faith with Elliott Advisors Limited, an affiliate of Elliott Management.” The activist investing firm recommended that the drugmaker “immediately launch a proactive sale process,” but Alexion said its board of directors had “unanimously decided that conducting a proactive sale process would not be in the best interest of shareholders and the patients we serve at this time.”
Current price is $113.40.
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