New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 6, 2014
06:22 EDTAMAG, CBST, PDLIJefferies to hold a summit
Boston Healthcare Summit to be held in Boston on August 6.
News For AMAG;CBST;PDLI From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
September 30, 2014
16:22 EDTAMAGOn The Fly: Closing Wrap
Subscribe for More Information
13:28 EDTAMAGAMAG rally continues after analysts praise acquisition
Shares of AMAG Pharmaceuticals (AMAG) are climbing for a second day after the company agreed to buy Lumara Health's maternal health unit and its flagship product Makena, which is used to reduce the risk of premature births. A number of analysts wrote today that the deal is positive for AMAG. WHAT'S NEW: AMAG yesterday morning announced that it had acquired Lumara's maternal health unit, including Makena, for $675M. AMAG could pay another $350M if certain sales milestones are met. ANALYST REACTION: FBR Capital analyst Andrew Berens reacted to the news by upgrading AMAG to Outperform from Market Perform. The deal should immediately increase AMAG's profits, Berens estimated. He expects Makena to generate $267M in revenue next year, rising to $475M in 2017. The deal increases the net present value of AMAG by over $689M, the analyst estimated, predicting that within the next year, investors will begin to focus on AMAG's "explosive" growth potential. He raised his price target on the shares to $36 from $21. Also upbeat on the deal was Christopher Raymond, an analyst at research firm Robert W. Baird. There's a great deal to like about Makena's near-term outlook, as competing drugs have been under heightened scrutiny but still have a 46% share of the market, Raymond stated. Additionally, AMAG's implied guidance for Makena's sales in fiscal 2015 appears to be conservative and may increase, the analyst stated. He raised his price target on the shares to $45 from $28 and reiterated an Outperform rating on the stock. PRICE ACTION: In mid-afternoon trading, AMAG climbed $2.70, or 9%, to $32.40. AMAG closed at $23.18 on Friday, the last trading day before the deal was announced.
10:03 EDTAMAGFollow-up: AMAG Pharmaceuticals upgraded to Buy at Jefferies
Jefferies upgraded AMAG Pharmaceuticals to Buy from Hold with an increased price target of $40 citing added earnings growth from the acquisition of Lumara Health. Shares were also upgraded this morning at FBR Capital.
10:02 EDTAMAGOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMAG Pharmaceuticals (AMAG) upgraded to Outperform at FBR Capital... Addus HomeCare (ADUS) upgraded to Outperform from Perform at Oppenheimer... Alcoa (AA) upgraded at BofA/Merrill... Ashford Hospitality Prime (AHP) upgraded to Outperform from at FBR Capital... Associated British Foods (ASBFY) upgraded to Outperform from Neutral at Credit Suisse... CSC (CSC) upgraded at Raymond James... Century Aluminum (CENX) upgraded to Buy from Neutral at BofA/Merrill... Dominion Diamond (DDC) upgraded to Overweight from Equal Weight at Barclays... Flagstar Bancorp (FBC) upgraded to Neutral from Sell at BTIG... Freeport McMoRan (FCX) upgraded to Buy from Neutral at BofA/Merrill... Hudbay Minerals (HBM) upgraded to Buy from Neutral at BofA/Merrill... ICU Medical (ICUI) upgraded at Raymond James... Lockheed Martin (LMT) upgraded at Stifel... Mellanox (MLNX) upgraded to Overweight from Neutral at Piper Jaffray... NiSource (NI) upgraded to Outperform from Neutral at Credit Suisse... Northwest Bancshares (NWBI) upgraded to Outperform at Boenning & Scattergood... NuVasive (NUVA) upgraded to Buy from Hold at Brean Capital... Patterson-UTI Energy (PTEN) upgraded to Equal Weight at Morgan Stanley... Raytheon (RTN) upgraded at Stifel... Royal Dutch Shell (RDS.A) upgraded to Outperform from Market Perform at Bernstein... Seventy Seven Energy (SSE) upgraded to Buy from Hold at Jefferies... TIBCO (TIBX) upgraded to Equal Weight from Underweight at Barclays... Taseko Mines (TGB) upgraded to Neutral from Underperform at BofA/Merrill... Teekay (TK) upgraded to Buy from Hold at Deutsche Bank... Toyota (TM) upgraded to Overweight from Neutral at JPMorgan.
09:55 EDTAMAGAMAG Pharmaceuticals upgraded to Buy from Hold at Jefferies
08:21 EDTAMAGAMAG Pharmaceuticals price target raised to $45 from $28 at RW Baird
Baird raised its price target on AMAG Pharmaceuticals to $45 from $28 following the company's announced acquisition of Makena, the flagship product of Lumara Health. The firm said the deal provides P&L leverage and a favorable set-up for new money. Baird reiterates its Outperform rating on AMAG Pharmaceuticals.
08:11 EDTAMAGAMAG Pharmaceuticals upgraded to Outperform at FBR Capital
Subscribe for More Information
06:45 EDTAMAGAMAG Pharmaceuticals upgraded to Outperform from Market Perform at FBR Capital
Subscribe for More Information
September 29, 2014
07:17 EDTAMAGLumara Health to be acquired in two separate transactions for $1.11B
Subscribe for More Information
07:16 EDTAMAGAMAG Pharmaceuticals to host conference call
Conference call to discuss a definitive agreement to acquire Lumara Health Inc will be held at 8 am on September 29. Webcast Link
06:59 EDTAMAGAMAG Pharmaceuticals to acquire Lumara Health for $675M
Subscribe for More Information
September 23, 2014
09:05 EDTPDLIPDL BioPharma informed of a class action lawsuit
Subscribe for More Information
September 19, 2014
10:07 EDTPDLIHigh option volume stocks
Subscribe for More Information
September 18, 2014
05:33 EDTCBSTCubist opens international headquarters in Zurich, will invest $400M in R&D
Subscribe for More Information
September 17, 2014
18:02 EDTPDLIPDL BioPharma issues statement on resignation of corporate auditors
PDL BioPharma was orally notified by its independent registered accounting firm, Ernst & Young, or EY, that it was resigning effective September 11. The resignation was confirmed in a letter delivered to the company on September 15, and reported in PDL's Form 8-K filed on September 16. PDL has issued the following statement in response to the announcement: "We have received a number of inquiries on the reason for the resignation of EY. We were surprised by the resignation as we did not have any disagreements with EY on accounting practices, scope or procedures nor did we have any reportable events that would have caused EY to resign their position as our auditors," stated Peter Garcia, VP and CFO of PDL. "We thank EY for their years of service to the company and have already begun the process of appointing new auditors, which we expect to announce in the coming weeks. We currently expect to continue our financial reporting in a timely manner." PDL BioPharma dropped 12% today following the revelation of Ernst & Young's resignation as corporate auditors.
10:48 EDTPDLIHigh option volume stocks
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use