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Stock Market & Financial Investment News

News Breaks
January 8, 2013
07:07 EDTACHNAchillion management to meet with Deutsche Bank
Meeting to be held in San Francisco on January 8 hosted by Deutsche Bank.
News For ACHN From The Last 14 Days
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May 20, 2015
08:30 EDTACHNAchillion price target lowered to $16 from $25 at Leerink
Leerink says Achillion's deal with Johnson & Johnson (JNJ) increases the probability that it will be a competitive commercial-stage player in hepatitis C. The firm believes the collaboration limits share downside as well as upside by making the "home-run scenario of great combo data leading to an acquisition less likely." It lowered its price target for Achillion shares to $16 and keeps an Outperform rating on the name.
07:51 EDTACHNAchillion shares remain undervalued after HCV pact with J&J, says Cowen
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07:31 EDTACHNAchillion upgraded to Outperform from Market Perform at William Blair
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07:30 EDTACHNAchillion downgraded on valuation at JMP Securities
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06:20 EDTACHNAchillion downgraded to Market Perform from Outperform at JMP Securities
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06:17 EDTACHNAchillion downgraded to Neutral from Buy at UBS
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May 19, 2015
19:06 EDTACHNOn The Fly: After Hours Movers
UP AFTER EARNINGS: Computer Sciences (CSC), up 5%... NQ Mobile (NQ), up 1.4%. ALSO HIGHER: Sarepta Therapeutics (SRPT), up 38.9% after announcing plans for rolling eteplirsen NDA... LendingClub (LC), up 2.8% after being upgraded to Overweight from Equal Weight at Morgan Stanley. DOWN AFTER EARNINGS: Keysight Technologies (KEYS), down 3.1%... Autodesk (ADSK), down 2.1%. ALSO LOWER: Cimarex Energy (XEC), down 4% after filing to sell 6M shares of common stock... Norwegian Cruise Line (NCLH), down 2.5% after filing to sell 20M ordinary shares for holders... Achillion Pharmaceuticals (ACHN), down 3.2% following collaboration for HCV with Janssen.
16:52 EDTACHNAchillion reverses, now down 5% following collaboration for HCV with Janssen
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16:40 EDTACHNAchillion up 7% following collaboration for HCV with Janssen
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16:10 EDTACHNAchillion enters into collaboration for HCV with Janssen
Achillion (ACHN) announced that it has entered into a worldwide license and collaboration arrangement with Janssen Pharmaceuticals, one of the Janssen Pharmaceutical Companies of Johnson & Johnson (JNJ), to develop and commercialize one or more of Achillion's lead hepatitis C virus, or HCV, assets which include ACH-3102, ACH-3422, and sovaprevir. Under the terms of the agreement, Achillion will grant Janssen an exclusive, worldwide license to develop and, upon regulatory approval, commercialize HCV products and regimens containing one or more of Achillion's HCV assets. Achillion is eligible to receive a number of payments based upon achievement of specified development, regulatory and sales milestones. Achillion is also eligible to receive tiered royalty percentages between mid-teens and low-twenties based upon future worldwide sales. Janssen will be responsible for all of the development costs within the collaboration and all subsequent costs related to commercialization of the HCV assets. A key objective of the collaboration will be to develop a short-duration, highly effective, pan-genotypic, oral regimen for the treatment of HCV. An initial regimen that will be explored will feature Achillion's ACH-3102, a second-generation NS5A inhibitor currently in Phase 2 clinical studies that has been granted Fast Track designation by the U.S. Food and Drug Administration, in combination with an NS3/4A HCV protease inhibitor plus an NS5B HCV polymerase inhibitor from the collaboration. Additionally, in an equity transaction separate to the exclusive license and collaboration arrangement, Johnson & Johnson Innovation – JJDC, Inc. will invest $225M in Achillion and, in return, receive approximately 18.4M newly issued, unregistered shares of Achillion at a price of $12.25 per share. The transactions, including the equity sale, are subject to customary closing conditions, including termination or expiration of any applicable waiting periods under the Hart-Scott-Rodino Act. Transitional clinical development and technology transfer activities under the collaboration are expected to take place over the next several months.
16:02 EDTACHNAchillion trading halted, pending news
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12:12 EDTACHNOptions with increasing implied volatility: ACHN ACM
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07:56 EDTACHNGilead for Achillion rumor not ridiculous, but highly unlikely, TheStreet says
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05:48 EDTACHNStocks with implied volatility movement; ACHN WETF
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May 18, 2015
16:21 EDTACHNOn The Fly: Top stock stories for Monday
Stocks on Wall Street advanced in Monday trading, sending the Dow Jones Industrial Average and the S&P 500 to new all-time closing highs. The early part of the day saw the market move in a narrow range, but by early afternoon the market punched through its upper range and moved to session highs. The market drifted throughout the afternoon as the news flow was quiet and the trading volume remained light. ECONOMIC EVENTS: In the U.S., the National Association of Home Builders’ confidence index fell 2 points to a reading of 54 in May, missing expectations for a 1 point increase to a reading of 57. COMPANY NEWS: Shares of Apple (AAPL) advanced $1.47, or 1.14%, to $130.24 after noted investor Carl Icahn stated in an open letter to the company's CEO that he thinks other investors, analysts and the news media continue to misunderstand Apple and that its stock is "worth $240 today." Icahn urged Apple CEO Tim Cook to take advantage by launching a "much larger buyback" of the iPhone maker's shares. Separately, FBR Capital analysts Daniel Ives and James Moore wrote this morning in a note to investors that the Street is still underestimating Apple's growth outlook in China. The analysts believe that Apple's China revenue will exceed its revenue from the Americas in fiscal 2017... Endo International (ENDP) slid $4.53, or 5.31%, to $80.82 after the company agreed to pay $8B for privately held Par Pharmaceutical, which will roughly double Endo’s generics revenue and place its generics business among the top five as measured by U.S. sales. MAJOR MOVERS: Among the notable gainers was Ann Inc. (ANN), which surged $7.69, or 19.87%, to $46.40 after agreeing to be acquired by Ascena Retail Group (ASNA) for about $2.15B in cash and stock. Ascena, which agreed to pay $37.34 in cash and 0.68 of a share of its own common stock in exchange for each share of the parent of the Ann Taylor brand, slipped 14c, or 0.99%, to $14.07 after announcing the deal. Also higher was Achillion (ACHN), which rose $1.41, or 14.79%, to $10.98 after the company cancelled its presentation at the UBS Global Healthcare Conference. Conference cancellations often generate speculation as to whether a company is engaged in merger or acquisition talks. Among the noteworthy losers was Eleven Biotherapeutics (EBIO), which dropped $8.29, or 69.26%, to $3.68 after announcing the company’s Phase 3 study of its lead drug candidate, EBI-005, in moderate to severe dry eye disease did not meet either of its two co-primary endpoints. Also lower were shares of Weibo (WB), which fell 87c, or 5.24%, to $15.73 after the shares were downgraded to Hold from Buy at Summit Research. INDEXES: The Dow rose 26.32, or 0.14%, to 18,298.88, the Nasdaq gained 30.15, or 0.6%, to 5,078.44, and the S&P 500 added 6.47, or 0.3%, to 2,129.20.
16:16 EDTACHNGilead confirms plans to present tomorrow at UBS conference, Feuerstein reports
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15:29 EDTACHNOptions with increasing volume
Options with increasing volume: ACHN PAGP CBG NI NGLS LEA OKS GTI WETF URBN
14:42 EDTACHNAchillion rises as conference cancellation adds fuel to M&A speculation
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12:51 EDTACHNOn The Fly: Top stock stories at midday
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11:40 EDTACHNAchillion jumps after conference presentation cancelled
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