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Stock Market & Financial Investment News

News Breaks
June 23, 2014
07:52 EDTBMRN, ALNY, SGMO, IDRA, BLUE, AGTC, ISIS, CLDN, ARWR, SRPT, INOPiper 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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February 24, 2015
10:48 EDTISISIsis says ISIS-PKKRx reduced prekallikrein levels in Phase 1 study
Isis Pharmaceuticals announced results from a Phase 1 study with ISIS-PKKRx. In this study, healthy volunteers treated with ISIS-PKKRx achieved dose-dependent reductions of up to 95% in prekallikrein, or PKK, Isis said. ISIS-PKKRx is a RNA-targeted antisense drug designed to inhibit the production of PKK for the prophylactic treatment of hereditary angioedema. ISIS-PKKRx 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 up to 400 mg for the multiple doses. After three weeks of dosing, subjects in the 100, 200, 300 and 400 mg multiple-dose cohorts displayed a mean reduction of PKK of 33, 69, 87 and 92%, respectively, from baseline. In this study, ISIS-PKKRx was generally well tolerated.
07:31 EDTIDRARBC Capital to hold a conference
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February 23, 2015
16:27 EDTBMRNOn The Fly: Closing Wrap
Stocks on Wall Street began the session in negative territory and remained there for most of the session, with the Nasdaq the lone index to post a small gain. The Dow was weighed down by shares of Boeing (BA), which slid after the stock received a downgrade. There was little in the way of positive economic news, as the most notable report showed existing homes were lower than expected due to a shortage of inventory. The averages drifted for most of the session, as investors may be waiting on the sidelines ahead of tomorrow’s banking panel testimony by Fed Chair Janet Yellen. ECONOMIC EVENTS: In the U.S., the Chicago Fed national activity index rebounded to 0.13 in January, which was nearly in-line with expectations. Existing home sales dropped 4.9% to a 4.82M rate in January, which was much worse than the expected 1.8% drop to a 4.95M unit rate. In Europe, the Ifo Institute’s measure of German business confidence rose to 106.8 in February, which was up a tenth of a percentage point from the previous month but below the 107.7 consensus forecast. Also, the Bank of Israel became the latest central bank to cut rates this year, lowering its main interest rate to 0.1% from 0.25%. COMPANY NEWS: The shares of a number of health insurers rose after the Centers for Medicare and Medicaid Services, or CMS, issued preliminary 2016 Medicare Advantage rates. According to Credit Suisse, the rates were favorable for the insurers. Following the CMS announcement made late Friday, Humana (HUM) climbed $8.40, or 5.38%, to $164.52, UnitedHealth (UNH) rose $3.78, or 3.36%, to $116.40, and WellCare (WCG) gained $4.68, or 5.53%, to $89.30. MAJOR MOVERS: Among the notable gainers was PTC Therapeutics (PTCT), which jumped $9.77, or 17.7%, to $64.96 after Reuters said the company is working with financial advisers to explore a potential sale after receiving takeover interest from several companies including Shire (SHPG) and BioMarin (BMRN). Also higher was Valeant (VRX), which rose $25.49, or 14.71%, to $198.75 after the company agreed to buy Salix (SLXP) for $158 per share and also reported better-than-forecast earnings. Salix shares, however, fell $2.09, or 1.32%, to $155.76, as a report Friday from CNBC's David Faber telegraphed the deal and suggested Valeant could value Salix around $160 per share. Among the noteworthy losers was Spectrum Pharmaceuticals (SPPI), which dropped $1.18, or 15.82%, to $6.28 after a judge ruled that a drug which could compete with the company's Fusilev treatment does not infringe on the company's intellectual property. Also lower were shares of Boeing, which fell $3.57, or 2.26%, to $154.74 after the stock was downgraded to Sell from Neutral at Goldman Sachs. INDEXES: The Dow fell 23.60, or 0.13%, to 18,116.84, the Nasdaq gained 5.01, or 0.1%, to 4,960.97, and the S&P 500 slipped 0.64, or 0.03%, to 2,109.66.
12:29 EDTBMRNPTC Therapeutics exploring potential sale, Reuters reports
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07:33 EDTARWRArrowhead initiates dosing in phase 1 trial of ARC-AAT
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07:22 EDTBLUE, ALNY, ISISSunTrust to hold a conference
2015 Biotechnology and Pharmaceutical 1:1 Orphan Drug Day is being held in New York on February 23.
February 20, 2015
15:20 EDTISISIsis Pharmaceuticals management to meet with JPMorgan
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February 19, 2015
18:25 EDTSGMOPiper Jaffray biotech analyst to hold analyst/industry conference call
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07:12 EDTBLUEWharton Health Care Club to hold a conference
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February 17, 2015
17:14 EDTSRPTPoint72 lowers passive stake in Sarepta to 4.4% from 5.2%
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12:50 EDTSRPTOn The Fly: Midday Wrap
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10:51 EDTARWROptions with decreasing implied volatility
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10:00 EDTSRPTOn The Fly: Analyst Upgrade Summary
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09:42 EDTIDRABaker Brothers Advisors buy 5.33M shares of Idera Pharmaceuticals
A filing by Idera Pharmaceuticals director Julian Baker showed that his Baker Bros. Advisors purchased about 5.33M shares of the company's stock in transactions on February 13 at an average price of $3.75 per shares. Idera Pharmaceutical shares are up 6.5% to $4.37 in early trading.
09:20 EDTSRPTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Vipshop Holdings (VIPS), up 10.9%... VASCO Data Security (VDSI), up 7.1%... Waste Management (WM), up 3.7%. ALSO HIGHER: Starwood Hotels (HOT), up 1.9% after appointing Adam Aron as interim CEO... Sarepta Therapeutics (SRPT), up 7.3% after being upgraded at BofA/Merrill... Navidea Biopharmaceuticals (NAVB), up 7.5% after publishing results of phase 3 Lymphoseek trial... Campus Crest (CCG), up 7.7% after announcing that it will explore strategic alternatives as well as Clinton Group and Campus Evolution proxy contest... Cyren (CYRN), up 7.1% following distribution agreement with ALSO Deutschland. DOWN AFTER EARNINGS: Helix Energy (HLX), down 13.3%... Walter Energy (WLT), down 10.1%. ALSO LOWER: Celsus Therapeutics (CLTX), down 82.3% after MRX-6 Cream 2% Phase II trial did not meet primary endpoint... Vascular Biogenics (VBLT), down 53.2% after reporting that VB-201 Phase 2 studies did not meet primary endpoints and removal of FDA partial clinical hold on VB-111... Vanguard Natural Resources (VNR), down 7.1% after reporting preliminary fourth quarter results.
07:43 EDTSRPTSarepta upgraded at BofA/Merrill
As previously reported, BofA/Merrill upgraded Sarepta to Buy from Neutral. The firm has increased confidence that eleplirsen will be approved for treating boys with DMD. Price target raised to $21 from $19.
February 13, 2015
09:21 EDTIDRAOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Cytokinetics (CYTK), up 15.6%... King Digital (KING), up 22.2%... Cyberark Software (CYBR), up 19.2%... Web.com (WWWW), up 4%... CBS (CBS), up 3.4%. ALSO HIGHER: Freescale Semiconductor (FSL), up 10.9% following a New York Post report that the company is exploring a sale. Carlyle Group (CG), which owns Freescale, along with Blackstone (BX), is up 1.5%. Blackstone is up fractionally... Whiting Petroleum (WLL), up 4.4% following a Bloomberg report that the company is seeking a buyer for assets in North Dakota... Ariad Pharmaceuticals (ARIA), up 5.7% following a CNBC report that Sarissa Capital is seeking to replace Ariad CEO and Chairman Harvey Berger. DOWN AFTER EARNINGS: Knowles (KN), down 20.3%... Zynga (ZNGA). down 12.4%... J.M. Smucker (SJM), down 2.1%. ALSO LOWER: Magnachip Semiconductor (MX), down 51.7% after restating financial results... Idera Pharmaceuticals (IDRA), down 7.6% after 20M share Secondary priced at $3.75.
08:39 EDTIDRAIdera Pharmaceuticals reports cash and equivalents of $48.6M as of December 31
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08:32 EDTIDRAIdera Pharmaceuticals 20M share Secondary priced at $3.75
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08:23 EDTCLDNPiper Jaffray biotech/healthcare analysts hold analyst/industry conference call
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