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Stock Market & Financial Investment News

News Breaks
June 27, 2014
07:52 EDTAUXL, QLTIAuxilium move to Canada may up odds of acquisition, says MKM Partners
MKM Partners believes Auxilium's (AUXL) merger with QLT Inc. (QLTI), which will allow it to move its domicile to Canada, may increases the chances that the company could be acquired, as a future buyer could avoid new U.S. laws that discourage inversions, if those laws are passed. The firm reiterates its Buy rating and $26 price target on Auxilium.
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September 17, 2014
08:44 EDTAUXLBioDelivery Sciences remains takeout candidate for Endo, says Summer Street
Summer Street believes a potential takeover of BioDelivery Sciences (BDSI) by partner Endo (ENDP) is no less likely after Endo made a bid to acquire Auxilium (AUXL). The firm believes an Endo buyout of BioDelivery is likely a 2015 event when BioDelivery's Bunavail for opioid dependence is on the market and BEMA Buprenorphine is facing FDA approval. Summer Street says it is a buyer of BioDelivery Sciences on weakness this morning and keeps a Buy rating on the name with a $28 price target.
08:06 EDTAUXLAuxilium likely to require higher bid from Endo, says MKM Partners
After Endo (ENDP) made a $28.10 per share bid for Auxilium (AUXL), MKM Partners believes that Endo will probably have to bid at least $32 to buy Auxilium. The firm raised its price target on Auxilium to $32 from $26 and reiterates a Buy rating.
07:58 EDTAUXLEndo, Auxilium deal can create significant synergies, says Canaccord
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07:39 EDTAUXLEndo deal for Auxilium highly complimentary, says UBS
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07:15 EDTAUXLEndo bid for Auxilium positive, says Wells Fargo
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07:14 EDTAUXL, QLTIAuxilium to 'carefully review' proposal from Endo for $28.10 per share
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07:12 EDTQLTI, AUXLQLT Inc. provides update on merger with Auxilium
QLT Inc. (QLTI) announces that it has been advised by Auxilium Pharmaceuticals (AUXL) that Auxilium has received an unsolicited offer from Endo International (ENDP) to acquire all of the issued and outstanding shares of Auxilium. Auxilium has further advised QLT that the board of Auxilium is reviewing the Endo Proposal, and has not withdrawn, modified, withheld, changed or qualified its recommendation with respect to the proposed merger with QLT pursuant to the Agreement and Plan of Merger among QLT, Auxilium, QLT Holding, and QLT Acquisition, dated June 25. The Merger Agreement continues in full force and effect. In accordance with the Merger Agreement, QLT has consented to the adoption by Auxilium of a stockholder rights plan in response to the Endo Proposal.
07:11 EDTAUXLAnalysts say Auxilium QLT deal could be snarled by Endo bid, Reuters says
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07:04 EDTAUXLAuxilium could be worth $34-$45/share in takeout, says Jefferies
Jefferies believes Auxilium (AUXL) could be worth more than the $28.10 per share offer by Endo (ENDP). The firm says it can get to valuations of $34-$45 per share for Auxilium under a takeout scenario. Jefferies thinks proposed acquisition cost "leaves considerable value on the table." It keeps a Buy rating on Auxilium with a $34 price target. In pre-open trading, Auxilium is trading well above Endo's offer price at $30.26 per share, up 41% or $8.74.
06:36 EDTAUXLEndo volatility expected to move on Endo acquisition proposal
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06:25 EDTAUXLAuxilium volatility expected to move on Endo acquisition proposal
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September 16, 2014
17:29 EDTAUXLAuxilium up 42% following Endo acquisition proposal
16:48 EDTAUXLEndo delivers proposal to acquire Auxilium for $28.10 per share in cash, stock
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16:48 EDTAUXLEndo delivers proposal to acquire Auxilium for $2.2B in cash, stock
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September 14, 2014
13:51 EDTAUXL, QLTIAuxilium looks like 'overpriced tax shelter', Barron's says
Auxilium's (AUXL) acquisition of QLT (QLTI) for tax inversion purposes followed a collapse in Testim sales and the company "seems like an overpriced tax shelter," Barron's argues in a follow up article. Reference Link
September 12, 2014
11:59 EDTAUXLAuxilium management to meet with Jefferies
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07:03 EDTQLTIQLT announces positive final results from Phase 1b retreatment with QLT091001
QLT Inc. announced positive final results from its international, multi-center, Phase 1b clinical trial of repeated treatments of oral QLT091001 in subjects with Leber Congenital Amaurosis or Retinitis Pigmentosa due to inherited genetic mutations in retinal pigment epithelium or lecithin:retinol acyltransferase. The results, which confirm the top line efficacy and safety outcomes reported from the study in February, will be presented tomorrow, September 13, 2014, at the 47th Annual Scientific Meeting of The Retina Society in Philadelphia, PA, by Dr. Hendrik Scholl, the Dr. Frieda Derdeyn Bambas Professor of Ophthalmology and Director of the Visual Neurophysiology Service at the Wilmer Eye Institute at the Johns Hopkins Hospital, and an investigator in the trial. The presentation slides will be made available on QLT's web site following the Retina Society Meeting. Results of the final analysis confirmed the response rates previously reported in February 2014, with 19 of 27 subjects having a visual field response, and 19 of 27 subjects having a visual acuity response.
September 10, 2014
07:21 EDTAUXL, QLTIAuxilium sees merger with QLT closing in Q4
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September 9, 2014
17:03 EDTAUXLAuxilium announces corporate restructuring, will cut headcount approximately 30%
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16:55 EDTAUXLAuxilium trading halted, pending news
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