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Stock Market & Financial Investment News

News Breaks
March 28, 2013
07:47 EDTBIIBBiogen price target raised to $203 from $187 at Brean Capital
Brean Capital raised its price target on Biogen following the FDA approval of Tecfidera labeling. The approval removes an overhang and suggests consensus revenue guidance of $330M is achievable. Shares are Buy rated.
News For BIIB From The Last 14 Days
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July 24, 2015
09:14 EDTBIIBOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Amazon (AMZN), up 20.7%... Pandora (P), up 10.3%... Juniper (JNPR), up 9.1%... Visa (V), up 6.7%... Starbucks (SBUX), up 5%... Skyworks (SWKS), up 2.6%... American Airlines (AAL), up 2.1%. ALSO HIGHER: SolarCity (SCTY), up 2.5% after being upgraded to Outperform from Neutral at Baird. DOWN AFTER EARNINGS: Tripadvisor (TRIP), down 8.5%... Biogen (BIIB), down 14.1%.
08:54 EDTBIIBBiogen sees limited U.S. patient growth for Tecfidera in rest of FY15
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08:48 EDTBIIBTecfidera U.S. switch rates below expectations in Q2, EVP says
In the U.S. in Q2, Tecfidera total market growth and switch rates remained lower than Biogen's original expectations and appeared to have returned to historical averages typically seen in the market before launch, said EVP of Global Commercial Operations Tony Kingsley. "We believe the safety event reported in late 2014 has created greater caution on the part of both physicians and patients about switching to orals. Our U.S. market research indicates a moderation in physician intent to prescribe, though in Q2 Tecfidera continued to gain patients in the U.S.," Kingsley said. Tecfidera patient growth for Europe "as a whole was robust," though total European Tecfidera revenue was dampened both by the change of price and softer demand in Germany, the executive added.
08:44 EDTBIIBBiogen CEO says expected reacceleration of Tecfidera not seen in Q2
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07:14 EDTBIIBBiogen drops 6% to $362 after Q2 revenue miss, guidance cut
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07:13 EDTBIIBBiogen says TYSABRI did not demonstrate impact on change in infarct volume
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06:54 EDTBIIBBiogen cuts FY15 non-GAAP EPS $15.50-$15.95 from $16.60-$17.00, consensus $16.63
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06:52 EDTBIIBBiogen reports Q2 total multiple sclerosis product sales $2.1B
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06:50 EDTBIIBBiogen reports Q2 non-GAAP EPS $4.22, consensus $4.10
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July 23, 2015
15:05 EDTBIIBNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include AbbVie (ABBV), consensus $1.06... Biogen (BIIB), consensus $4.10... Simon Property Group (SPG), consensus $2.36... State Street (STT), consensus $1.37... V.F. Corp. (VFC), consensus 36c... Johnson Controls (JCI), consensus 91c... American Airlines (AAL), consensus $2.60... Rockwell Collins (COL), consensus $1.30... Cabot Oil & Gas (COG), consensus 4c... Lear (LEA), consensus $2.48... Encana (ECA), consensus (15c).
13:42 EDTBIIBBiogen technical remarks ahead of earnings
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08:03 EDTBIIBBiogen update 'promising,' says RBC Capital
RBC Capital says that there were negative aspects to yesterday's update on the trial results of Biogen's Alzheimer's treatment. Specifically, the 6 mg version of the drug only slightly improved patients' performance on one cognition test compared with the most recently chosen group of ten patients taking placebos, and did not improve their performance at all on another cognition test. However, RBC says that the drug did improve patients' performance on both tests versus the 20+ patients who were in a previous placebo group. Additionally, the firm reports that the cognition test on which the patients taking the drug outperformed versus the newer placebo group is more widely accepted than the other cognition test. RBC sees a 50%-60% chance that the drug will succeed.
07:00 EDTBIIBBiogen July weekly volatility elevated into Q2 and outlook
Biogen July weekly call option implied volatility is at 77, August is at 37, September is at 34; compared to its 52-week range of 23 to 46, suggesting large near term price movement into the expected release of Q2 results on July 24.
July 22, 2015
10:59 EDTBIIBBiogen drops after reporting data on Alzheimer's drug
The shares of Biogen (BIIB) are falling after the company released data on its Alzheimer's treatment candidate, aducanumab. Peer Eli Lilly (LLY) also reported data this morning on its own experimental Alzheimer's drug, solanezumab. BIOGEN: Biogen's data "does not inspire confidence," Piper analyst Joshua Schimmer wrote in a note to investors today. The 6 mg dose of the drug performed similarly to the 1mg dose, and was barely better than the placebo, the analyst stated. The cognitive and functional performance of the patients who took the 6 mg dose did not improve by a statistically significant amount, while the results of patients taking the other doses were "noisy,"Schimmer stated. Additionally, indications of excess fluid in the brain was observed in a significant number of patients, representing an additional problem for the treatment, the analyst believes. The data "is far from inspiring confidence" and makes the outlook for aducanumab "more speculative than ever," Schimmer contended. LILLY: Also this morning, Eli Lilly presented results from a pre-specified secondary analysis of several Phase 3 studies at the Alzheimer's Association International Conference. According to the company, the results suggest the treatment effect of solanezumab was preserved within a pre-specified amount in patients with mild Alzheimer's disease who received solanezumab earlier in the disease compared to patients who began treatment at a later point. Treatment differences in cognition and function between early-start and delayed-start groups at the end of the placebo-controlled period were preserved at the primary time point of 108 weeks within a pre-defined margin. Treatment differences in cognition and function between early-start and delayed-start groups at the end of the placebo-controlled period were also preserved at an additional time point of 132 weeks within a pre-defined margin.The differences at 108 weeks and at at 132 weeks remained statistically significant, the company said. PRICE ACTION: In morning trading, Biogen fell 3% to $397.43 while Eli Lilly shares rose 0.6% to $86.11.
10:01 EDTBIIBOn The Fly: Analyst Downgrade Summary
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09:28 EDTBIIBBiogen downgraded to Neutral at Piper Jaffray after Alzheimer's data
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09:22 EDTBIIBBiogen downgraded to Neutral from Overweight at Piper Jaffray
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09:07 EDTBIIBOn The Fly: Pre-market Movers
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07:19 EDTBIIBBiogen drops 4.8% to $390 after reporting Alzheimer's drug data
06:50 EDTBIIBBiogen's Alzheimer's candidate shows reduction of clinical decline
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