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Stock Market & Financial Investment News

News Breaks
May 27, 2014
08:25 EDTBCRX, BCRXBioCryst to host conference call
Conference call to discuss results from the BCX4161 OPuS-1 phase 2 trial for hereditary Angioedema on May 27 at 8:30 am. Webcast Link
News For BCRX From The Last 14 Days
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April 1, 2015
11:22 EDTBCRXDyax jumps after HAE data, while analysts defend competitors Shire, BioCryst
The shares of drug maker Dyax (DYAX) are surging after the company last night reported data from a Phase 1b clinical trial of its DX-2930 drug, a treatment for hereditary angioedema, or HAE. The disease is a rare genetic disorder characterized by episodes of swelling in different areas of the skin or the internal organ. A number of analysts reacted to the news by significantly raising their price targets on Dyax's stock in notes to investors earlier today. WHAT'S NEW: Dyax last night reported that, in the study, the HAE attack rate of patients taking the 300 mg dose of its drug were 100% lower than those taking placebo. The HAE attack rate of patients taking the 400 mg dose of its drug were 88% lower than those taking placebo, Dyax added. ANALYST REACTION: Jefferies analyst Biren Amin raised his price target on Dyax to $31 from $18, saying that DX-2930 could become the next standard of care in HAE. Most investors would have been pleased if the company's drug had lowered attacks by 35%-50%, wrote the analyst, who kept a Buy rating on the shares. RBC Capital analyst Michael Yee also hiked his price target on the shares to $31 from $18, saying that the results were impressive and clearly showed proof of concept evidence that the company's drug can reduce or prevent nearly all HAE attacks. The drug has an 85% chance of succeeding, added Yee, who kept an Outperform rating on he shares, and believes that the stock could reach $35-$39 if everything goes well for Dyax. Oppenheimer analyst Akiva Felt hiked his price target on Dyax to $26 from $14.as he believes that the data represented a best-case scenario. Investors were anticipating a much smaller reduction in HAE attack rates and the drug has made a giant leap toward becoming the best-in-class prophylactic HAE treatment, added Felt, who kept an Outperform rating on the stock. WHAT'S NOTABLE: Dyax's DX-2930 competes with BioCryst's (BCRX) oral kallikrein inhibitor BCX4161 and shares of BioCryst could see additional weakness in the near-term following Dyax's report, JPMorgan wrote in a note to investors today. However, the firm thinks that BioCryst's stock can rise significantly heading into key catalysts in the second half of the year and kept an Overweight rating on the name. Similarly, research firm Susquehanna wrote that Dyax's positive results will threaten Shire's (SHPG) HAE franchise, though the firm thinks that Shire has multiple pipeline drugs that it can turn into additional high margin therapies. The firm continued to recommend buying Shire's stock. PRICE ACTION: In late morning trading, Dyax soared 48% to $24.80, while Shire lost 2% to $234 and BioCryst gained 4.5% to $9.44.
07:37 EDTBCRXBioCryst could be weak on Dyax data, says JPMorgan
JPMorgan believes shares of BioCryst (BCRX) could see additional weakness in the near-term after competitor Dyax (DYAX) reported better than expected Phase Ib results for its anti-kallikrein antibody for hereditary angioedema. The firm notes Dyax's DX-2930 competes with BioCryst's oral kallikrein inhibitor BCX4161. It views shares of BioCryst as "fairly washed out" at current levels given the weakness going into Dyax's data announcement, however, and sees potential for "meaningful upside" in the stock heading into key catalysts in the second half of 2015. JPMorgan thinks BioCryst is undervalued and keeps an Overweight rating on the name.
March 31, 2015
19:38 EDTBCRXOn The Fly: After Hours Movers
HIGHER: Dyax (DYAX), up 47.7% following positive results from Phase 1b clinical trial of DX-2930... Voltari (VLTC), up 93.1% after Carl Icahn reports 52.3% stake... Chesapeake Energy (CHK), up 1.6% after chairman Archie Dunham buys 1M shares of common stock. DOWN AFTER EARNINGS: Cytosorbents (CTSO), down 39.4%... UTi Worldwide (UTIW), down 11.8%... Real Goods Solar (RGSE), down 7%... SYNNEX (SNX), down 3.3%. ALSO LOWER: BioCryst Pharmaceuticals (BCRX), down 8.6% following positive results from Dyax Phase 1b clinical trial of DX-2930... Carpenter Technology (CRS), down 6.4% after targeting a $50M inventory reduction by end of fiscal 2015.
07:00 EDTBCRXBioCryst awarded $35M contract by BARDA for development of BCX4430
BioCryst Pharmaceuticals announced that the Biomedical Advanced Research and Development Authority, or BARDA, within the U.S. Department of Health and Human Services' Office of the Assistant Secretary for Preparedness and Response, or ASPR, has awarded BioCryst a contract for the continued development of BCX4430 as a potential treatment for diseases caused by RNA pathogens, including filoviruses. This ASPR/BARDA contract includes a base contract of $12.1M to support BCX4430 drug manufacturing, as well as $22.9M in additional development options that can be exercised by the Government, bringing the potential value of the contract to $35.0M. Filoviruses represent serious threats to national security and the U.S. Government has made this a top priority for medical countermeasure development.

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