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Stock Market & Financial Investment News

News Breaks
January 3, 2013
07:41 EDTBIIBBiogen drops 7% after ALS drug misses endpoint in trial
Shares of Biogen Idec (BIIB) are down 7% in pre-market trading after the company said its Phase 3 trial investigating dexpramipexole in people with amyotrophic lateral sclerosis, or ALS, did not meet its primary endpoint. Biogen said it will discontinue development of dexpramipexole in ALS due to the trial results. Note earlier this morning, Piper Jaffray cut its rating on shares of Biogen to Neutral from Overweight. The stock is currently trading lower 7%, or $10.01, to $139.99 in pre-market trading.
News For BIIB From The Last 14 Days
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March 6, 2015
07:04 EDTBIIBIsis Pharmaceuticals earns $9M for advancing ISIS=SMN Rx
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February 27, 2015
07:37 EDTBIIBBiogen removed from the short-term buy list at Deutsche Bank
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07:19 EDTBIIBBiogen, Sobi report Phase 3 Alprolix paediatric study meets primary endpoint
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07:10 EDTBIIBBiogen Idec, Swedish Orphan Biovitrum AB announce positive Alprolix results
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February 26, 2015
08:15 EDTBIIBBiogen shares likely to continue to advance, says RBC Capital
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February 25, 2015
06:14 EDTBIIBPTC Therapeutics takeout price likely tops $100/share, said Credit Suisse
Credit Suisse yesterday raised its price target for PTC Therapeutics (PTCT) shares to $100 from $66 after Reuters reported the drug market is starting a sale process with Shire (SHPG) and Biomarin (BMRN) as possible suitors. The firm believes a takeout is a likely outcome before or after data the Phase III data expected to be announced in October. PTC has Translarna Phase III trials ongoing in Duchenne muscular dystrophy and cystic fibrosis to support full approval in the U.S. Credit Suisse said yesterday in a note to investors that a takeout value for the company likely exceeds $100 per share. It believes PTC would be a good fit for Vertex (VRTX), Biogen (BIIB), Roche (RHHBY) and others. The firm kept an Outperform rating on the stock. PTC Therapeutics shares closed yesterday up $6.20 to $71.16.

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