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Stock Market & Financial Investment News

News Breaks
September 16, 2013
10:04 EDTRPT, EVTC, AMRE, BMRN, EFC, LOCM, TPRE, KIM, DDR, RGDO, MFA, WRI, REG, ECYT, BEAV, DX, SDLP, BFSOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AmREIT (AMRE) initiated with an Add at Capital One... BE Aerospace (BEAV) initiated with a Buy at Citigroup... DDR Corp. (DDR) initiated with an Add at Capital One... EVERTEC (EVTC) initiated with a Buy at BofA/Merrill... Endocyte (ECYT) initiated with a Buy at Brean Capital... Kimco Realty (KIM) initiated with a Strong Buy at Capital One... Ramco-Gershenson (RPT) initiated with a Neutral at Capital One... Regency Centers (REG) initiated with an Add at Capital One... Saul Centers (BFS) initiated with an Add at Capital One... Third Point Reinsurance (TPRE) initiated with a Buy at BofA/Merrill... Weingarten Realty (WRI) initiated with a Strong Buy at Capital One... Local (LOCM) initiated with a Buy at Merriman... Seadrill Partners (SDLP) coverage resumed with a Buy at Global Hunter... MFA Financial (MFA) initiated with a Buy at Compass Point... Ellington Financial (EFC) initiated with a Buy at Compass Point... Dynex Capital (DX) initiated with a Buy at Compass Point... Regado Biosciences (RGDO) initiated with an Outperform at Cowen... BioMarin (BMRN) reinstated with a Buy at BofA/Merrill.
News For AMRE;BEAV;DDR;EVTC;ECYT;KIM;RPT;REG;TPRE;BFS;WRI;LOCM;SDLP;MFA;EFC;DX;RGDO;BMRN From The Last 14 Days
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May 20, 2015
15:42 EDTBMRNTheStreetSweeper says short Sarepta
The Street Sweeper stated on Twitter that Sarepta (SRPT) has a "long way to go" and "We’re short." It also noted that Canaccord says if BioMarin's (BMRN) DMD drug is approved first that the pressure to approve Sarepta's “may decrease.” Reference Link
11:46 EDTBMRNBioMarin sees self as buyer, not acquisition candidate, dealReporter says
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10:22 EDTBMRNSarepta soars after FDA agrees to accept DMD drug submission
The shares of Sarepta Therapeutics (SRPT) are rallying after the company announced that, following meetings with the FDA, it would submit its eteplirsen drug for the agency's approval. Last October, the FDA said the company would have to submit more data on the drug before the agency would consider approving the treatment. WHAT'S NEW: Sarepta announced last night that it would submit its eteplirsen to the FDA for approval. The submission will be done on a rolling basis, with various components of the application being submitted separately. Eteplirsen is a treatment for Duchenne muscular dystrophy or DMD. ANALYST REACTION: Roth Capital analyst Debjit Chattopadhyay responded to the news by more than doubling his price target on Sarepta to $45 from $22. The analyst is upbeat on Sarepta's approach of seeking to address DMD patients' lack of dystrophin, which he calls the patients' primary biochemical defect. He predicts that both eteplirsen and another DMD treatment, BioMarin's (BMRN) drisapersen, will be recommended for approval at a joint panel meeting in the second half of 2015. While both drugs are likely to be approved, BioMarin's decision to not yet initiate new studies on its DMD treatment has placed Sarepta in the pole position, Chattopadhyay believes. BioMarin will have to run additional studies and if both drugs are approved, BioMarin will find it difficult to recruit patients due to drisapersen's safety profile, according to the analyst. Chattopadhyay continues to believe that Sarepta's PMO platform will be the winner in DMD and he kept a Buy rating on the stock. More upbeat on BioMarin was Jefferies analyst Eun Yang. After meeting with BioMarin's management, the analyst reported that the company's confidence has increased following its pre-submission discussions with the FDA. If the FDA approves drisapersen on a non-accelerated basis, BioMarin may not be required to conduct any additional studies, the analyst stated. Yang sees a 60% chance of the drug being approved and believes that the stock would rise more than 25% if approval is granted. The analyst kept a $135 price target and Buy rating on BioMarin shares. PRICE ACTION: In early trading Sarepta climbed 45% to $23.81 and BioMarin was little changed at $125 per share.
09:10 EDTBMRNSarepta price target raised to $43 from $34 at William Blair
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09:05 EDTBMRNSarepta price target raised to $45 from $22 at Roth Capital
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07:48 EDTBMRNBioMarin has a conference call hosted by JPMorgan
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07:17 EDTBMRNBioMarin can rally over 25% on drisapersen approval, says Jefferies
Jefferies analyst Eun Yang sees greater than 25% upside in shares of BioMarin should the FDA approve drisapersen for Duchenne muscular dystrophy. After hosting an investor dinner with management, Yang says BioMarin's confidence in drisapersen approvability has increased. The analyst's model, which includes a price target for shares of $135 and a Buy rating, assumes 60% probability of approval for drisapersen. Shares of BioMarin closed yesterday down $1.03 to $124.99.
May 19, 2015
07:08 EDTMFAWells Fargo to hold a conference
4th Annual Specialty Finance Conference is being held in New York on May 19.
May 18, 2015
07:10 EDTTPREUBS to hold a field trip
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May 15, 2015
07:06 EDTLOCMLocal reports Q1 EPS (20c) vs. (12c) last year
Reports Q1 revenue $13.1M, two estimates $16.28M. First quarter 2015 unique visitors were 59 million, compared to 59 million in the fourth quarter of 2014. During the first quarter of 2015, the average unique visitors per month for nQuery Mobile Search reached 3 million, representing approximately 400,000 daily search queries.
07:05 EDTLOCMLocal withdraws guidance provided on February 27
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May 14, 2015
09:35 EDTBMRNBioMarin management to meet with Jefferies
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09:22 EDTECYTLeerink pharma/biotech analysts hold an analyst/industry conference call
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08:50 EDTKIM, REGBofA/Merrill U.S. REITs analyst holds an analyst/industry conference call
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07:53 EDTBEAVRBC Capital to hold a conference
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May 13, 2015
17:37 EDTECYTEndocyte to present updated data on EC1456 at ASCO
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