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Stock Market & Financial Investment News

News Breaks
June 23, 2014
07:52 EDTSGMO, IDRA, BLUE, AGTC, ISIS, CLDN, ARWR, SRPT, INO, BMRN, ALNYPiper Jaffray to hold a symposium
GenomeRX Symposium to be held in New York on June 23.
News For AGTC;ALNY;ARWR;BLUE;BMRN;CLDN;IDRA;INO;ISIS;SGMO;SRPT From The Last 14 Days
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March 27, 2015
10:29 EDTBMRNBioMarin rises amid takeover speculation, price target raises
The shares of BioMarin (BMRN) are climbing after a blog reported last night that Shire (SHPG) is considering offering to acquire the company. Meanwhile, analysts at UBS and Deutsche raised their price targets for the orphan drug maker, in part due to the possibility of a takeover. WHAT'S NEW: "Well-informed" sources are saying that Shire recently approached BioMarin about a merger deal, Ben Harrington of the blog Betaville reported last night. It's not clear how far the talks have progressed, but Morgan Stanley and Lazard are advising Shire on a deal that could be worth $65B, the blog added. ANALYSTS' TAKE: The recent acquisition of Pharmacyclics (PCYC) by AbbVie (ABBV) shows that drug companies need to acquire products and pipelines, UBS analyst Andrew Peters wrote in a note to investors earlier today. Given its diversified pipeline of orphan products and multi-billion revenue potential, BioMarin is among the most attractive targets in the sector, according to Peters. As a result, the analyst finds it appropriate to assign premiums to drug companies for their strategic value. Additionally, the analyst has become more upbeat on several of BioMarin's pipeline drugs and on its R&D capabilities. He raised his price target on the stock to $136 from $112 and kept a Buy rating on the shares. Also upbeat on the stock was Deutsche Bank analyst Robyn Karnauskas. BioMarin's top four pipeline drugs have 25%-50% chances of succeeding, but not everything in the company's pipeline needs to work for it to obtain an M&A premium, the analyst stated in a note to investors today. She believes that BioMarin can be acquired for $194-$271 per share in the next year, depending on the data from several of its drug candidates. The analyst raised her price target on the name to $140 from $90 and kept a Buy rating on the stock. PRICE ACTION: In early trading, BioMarin jumped 13.5% to $130. PRICE ACTION: In early trading, BioMarin climbed 13.5% to $130.
10:01 EDTBMRNHigh option volume stocks
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09:26 EDTBMRNOn The Fly: Pre-market Movers
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08:17 EDTBMRNDeutsche Bank biotech analyst holds an analyst/industry conference call
Biotech Analyst Karnauskas provides a deep dive look into BioMarin on an Analyst/Industry conference call to be held on March 27 at 10 am.
07:38 EDTBMRNBioMarin price target raised to $140 from $90 at Deutsche Bank
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05:58 EDTBMRNBioMarin price target raised to $136 from $112 at UBS
UBS analysts Andrew Peters and Matthew Roden raised their price target for BioMarin (BMRN) shares to $136 saying investors "are still well served" to buy the stock despite the recent outperformance and talk of a bubble in the Biotech space. The analysts view BioMarin as among the most attractive takeover targets in biotech. They add the company's 2015 is filled with pipeline catalyst and keep a Buy rating on the name. The target raise at UBS comes after Ben Harrington last night, former M&A and Markets Editor at the Daily Telegraph and current editor of the blog Betaville, said that Shire (SHPG) is weighing a takeover of BioMarin. Shares of the orphan drug maker closed yesterday down 7c to $115.55 and are trading up $8.95 to $124.50 in pre-market trading.
March 26, 2015
19:30 EDTBMRNBioMarin up 4% after blog says Shire weighing takeover
BioMarin (BMRN) is trading up over 4% in the after-hours after Ben Harrington, former M&A and Markets Editor at the Daily Telegraph and current editor of the blog Betaville, said that Shire (SHPG) is weighing a takeover of BioMarin. Reference Link
13:34 EDTCLDNCelladon volatility elevated into Q4 and trial outcome
Celladon April call option implied volatility is at 173, May is at 322, June is at 277; compared to its 7-week average of 220 according to Track Data, suggesting large May price movement into the expected release of Q4 results on March 31 and outcome of the CUPID2 trial.
10:10 EDTISIS, BMRN, ALNYAnalyst calls sharp pullback in biotech stocks 'misguided'
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06:45 EDTBMRN, ALNY, ISISBiotech valuation concerns 'misguided,' says Piper Jaffray
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March 25, 2015
10:51 EDTCLDNOptions with increasing implied volatility
Options with increasing implied volatility: CLDN CMG CREE AMZN ISRG MAC UA VMW SLXP
07:16 EDTBLUE, INO, SGMOPiper Jaffray and the Alliance for Regenerative Medicine co-host conference
3rd Annual Regenerative Medicine Investor Day is being held in New York on March 25 with webcasted company presentations to begin at 8 am; not all company presentations may be webcasted. Webcast Link
March 24, 2015
19:40 EDTCLDNOn The Fly: After Hours Movers
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16:12 EDTCLDNCelladon, Novasep execute Mydicar API supply agreement
Celladon and Novasep announce that they have signed a Development, Manufacturing and Supply Agreement pursuant to which, if supported by upcoming Mydicar clinical data, Novasep would manufacture Mydicar drug substance through 2018 with extension options through 2020. The contract follows an earlier letter agreement concerning the initial process transfer of Mydicar and pre-validation studies, which was signed in December 2014. The new agreement continues the work necessary for Novasep to achieve GMP production of Mydicar drug substance. Under the terms of the agreement, Novasep and Celladon would conduct the process transfer, development, facility retrofitting and scale-up activities necessary to carry out production of Mydicar drug substance in a 2000L bioreactor at an enhanced bioproduction plant in Seneffe, Belgium. GMP operations are planned to start in 4Q16 and continue through 2018. An option to extend through 2020 will be determined based on Celladon's requirements for the Mydicar drug substance. Celladon has the right to terminate the agreement, exercisable for a specified period of time following the un-blinding of the data from the CUPID2 study, if Celladon concludes in good faith that the CUPID2 data is such that Celladon does not require production of Mydicar drug substance at the Novasep facility.
March 23, 2015
09:27 EDTIDRAIdera Pharmaceuticals Chief Medical Officer resigns
Idera Pharmaceuticals disclosed in a regulatory filing that Louis Brenner, M.D. resigned his positions as senior VP and Chief Medical Officer of Idera to accept a new role as the Chief Operating Officer of a privately-held biotechnology company. This change will become effective April 3.
07:04 EDTISISIsis Pharmaceuticals says ISIS-ANGPTL3Rx 'well tolerated' in Phase 1 study
Isis Pharmaceuticals announced positive results from a Phase 1 study with ISIS-ANGPTL3Rx. In this study, healthy volunteers treated with ISIS-ANGPTL3Rx achieved dose-dependent, statistically significant reductions in angiopoietin-like 3 of up to 93% with a mean reduction of up to 84% from baseline. In addition, statistically significant reductions from baseline in lipid parameters were observed, including up to 63% with a mean reduction of up to 49% in triglycerides and up to 46% with a mean reduction of up to 28% in total cholesterol. ANGPTL3 is a protein that acts as a key regulator of these blood lipids. These data were presented at the 83rd European Atherosclerosis Society in Glasgow, United Kingdom. The Phase 1 study of ISIS-ANGPTL3Rx was a blinded, placebo-controlled, dose-escalation study in healthy volunteers. The study was designed to assess the safety, tolerability and pharmacokinetics of ISIS-ANGPTL3Rx. ISIS-ANGPTL3Rx was evaluated in single and multiple doses ranging from 50 mg per week up to 400 mg per week for the single dose and 100 mg per week up to 400 mg per week for the multiple dose. In this study, ISIS-ANGPTL3Rx was generally well tolerated.
06:53 EDTINOInovio to host investor day
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March 20, 2015
11:45 EDTISISIsis Pharmaceuticals management to meet with Needham
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07:42 EDTALNYBioCentury to hold a conference
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March 19, 2015
07:18 EDTAGTCGlobal Technology Community to hold a conference
7th Ocular Diseases Drug Discovery Conference is being held in San Diego, California on March 19-20.
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