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News Breaks
March 11, 2014
05:36 EDTBAYRY, AMGNBayer, Onyx report Phase 3 study of Nexavar did not meet primary endpoint
Bayer (BAYRY) and Onyx Pharmaceuticals, an Amgen subsidiary (AMGN), announced that a Phase 3 trial evaluating the investigational use of Nexavar tablets as an adjuvant treatment for patients with hepatocellular carcinoma, or liver cancer, who had no detectable disease after surgical resection or local ablation, did not meet its primary endpoint of improving recurrence-free survival. The safety findings were consistent with the known profile of sorafenib. Data from this study will be submitted for presentation at an upcoming scientific congress.
News For BAYRY;AMGN From The Last 14 Days
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April 22, 2015
15:19 EDTAMGNAmgen management to meet with Piper Jaffray
Group luncheon to be held in Boston on April 27 hosted by Piper Jaffray.
12:49 EDTBAYRYEU proposes new law that allows states to ban biotech crops, WSJ reports
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09:22 EDTAMGNOn The Fly: Pre-market Movers
UP AFTER EARNINGS: CalAmp (CAMP), up 12.7%... Angie's List (ANGI), up 17.4%... Broadcom (BRCM), up 6.3%... Owens Corning (OC), up 3.8%... Yum! Brands (YUM), up 3.3%... Dolby Laboratories (DLB), up 3.6%... Infinera (INFN), up 2.4%... AutoNation (AN), up 2.5%... Amgen (AMGN), up 3.1%... Coca-Cola (KO), up 2%. ALSO HIGHER: Procera Networks (PKT) up 10.4% after being acquired by Francisco Partners in deal valued at $240M... Organovo (ONVO), up 19.2% after entering into a collaboration agreement with Merck Sharp and Dohme... Vical (VICL), up 5.8% after being awarded $4M contract to manufacture HIV vaccines for clinical evaluation... CTI BioPharma (CTIC), up 4.9% after announcing that Phase 3 pacritinib data will be highlighted in a late-breaking oral presentation at ASCO meeting. DOWN AFTER EARNINGS: Chipotle Mexican Grill (CMG), down 5.2%... iRobot (IRBT), down 3.6%... Cree (CREE), down 3.5%... United Rentals (URI), down 4%... Super Micro Computer (SMC), down 2.3%... Thermo Fisher (TMO), down 2.6%. ALSO LOWER: Natural Resource Partners (NRP), down 14% after reducing quarterly distribution 75% to 9c per unit... Trinity Industries (TRN), down 3.5% following a Bloomberg report that the Justice Department has initiated a criminal investigation into Trinity guardrails.
07:59 EDTAMGNAmgen price target raised to $189 from $164 at Cowen
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07:29 EDTAMGNAmgen estimates and price target raised at UBS
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07:07 EDTBAYRYEuropean Association for the Study of the Liver to hold annual meeting
50th Annual Meeting of EASL will be held in Vienna, Austria on April 22-26.
06:03 EDTAMGNAmgen price target raised to $192 from $187 at Piper Jaffray
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April 21, 2015
19:06 EDTAMGNOn The Fly: After Hours Movers
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17:07 EDTAMGNAmgen shares higher by 2.69% after Q1 results, guidance
16:04 EDTAMGNAmgen raises FY15 EPS view to $9.35-$9.65 from $9.05-$9.40, consensus $9.32
Narrows FY15 revenue view to $20.9B-$21.3B from $20.8B-$21.3B, consensus $20.98B.
16:02 EDTAMGNAmgen reports Q1 EPS $2.48, consensus $2.10
Reports Q1 revenue $5.03B, consensus $4.91B.
15:28 EDTAMGNNotable companies reporting after market close
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13:51 EDTAMGNEarnings Watch: Amgen's Enbrel, Neulasta sales key for Q1 results
Amgen (AMGN) is scheduled to report first quarter earnings after the market close on Tuesday, April 21 with a conference call scheduled for 5:00 pm ET. Amgen, a biotechnology medicines company, engages in the discovery, development, manufacture, and marketing of human therapeutic products in the areas of supportive cancer care, inflammation, nephrology, and bone diseases. EXPECTATIONS: Analysts are looking for earnings per share of $2.10 on revenue of $4.91B, according to First Call. The consensus range for EPS is $1.91-$2.25 on revenue of $4.62B-$5.13B. LAST QUARTER: Amgen reported fourth quarter EPS of $2.16 against estimates of $2.05 on revenue of $5.33B against estimates of $5.2B. With its Q4 report, Amgen also reiterated its fiscal year EPS view of 9.05-$9.40, on revenue of of $20.8B-$21.3B. Total product sales increased 8% for Q4 versus Q4 of 2013. The increase was driven primarily by Enbrel, Neulasta, Prolia, XGEVA and Vectibix .Growth for the quarter was due primarily to higher unit demand, and to a lesser extent, price. Product sales increased 6% for the full year driven by strong performance across the portfolio. STREET RESEARCH: On March 23, Piper Jaffray said the "positive" trial data Teva (TEVA) reported for its anti-CGRP antibody in migraines is another important validation for the class of drugs that is also being worked on by Amgen, Eli Lilly (LLY), and Alder Biopharmaceuticals (ALDR). The firm said it thinks Amgen is one of the leaders in CGRP antibody space and reiterated its Overweight rating and $187 price target on Amgen shares. On March 16, RBC Capital said it believes that data presented by Amgen on its evolocumab drug for hyperlipidemia.was "very positive." The firm expects the drug to be approved in late summer. It predicts that revenue from the drug will ramp modestly and steadily, and then accelerate after positive studies of the drug's effects are released in 2017. RBC Capital estimates that worldwide revenue from the drug will peak at $2.5B+. It keeps an Outperform rating on Amgen. PRICE ACTION: Amgen shares are higher by around 6% since its last earnings report on January 27, and are up 1.25% to to $168.06 in afternoon trading ahead of Tuesday's earnings report.
April 20, 2015
07:18 EDTBAYRYAmerican Academy of Neurology to hold annual meeting
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April 17, 2015
09:20 EDTAMGNInsulet weakness creates buying opportunity, says Wedbush
Wedbush believes that Insulet's growth should accelerate as the year progresses, driven by increased adoption of its unique, programmable insulin pump and the launch of Amgen's (AMGN) Neulasta On-Body Delivery System.
April 16, 2015
12:19 EDTBAYRYBayer downgraded to Equal Weight from Overweight at Morgan Stanley
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April 15, 2015
18:56 EDTAMGNOn The Fly: After Hours Movers
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17:06 EDTAMGNAmgen confirms FDA approval of Corlanor
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16:40 EDTAMGNFDA approves Amgen's Corlanor to treat heart failure
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07:41 EDTBAYRYEBD Group to hold a forum
ChinaBio Partnering Forum 2015 is being held in Shanghai, China on April 15-16.

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