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Stock Market & Financial Investment News

News Breaks
July 30, 2014
16:24 EDTREGN, BMRNBioMarin sells priority review voucher for $67.5M to Regeneron
BioMarin Pharmaceutical (BMRN) announced that it has sold the Rare Pediatric Disease Priority Review Voucher it obtained in February of this year. The company received the voucher under an FDA program intended to encourage the development of treatments for rare pediatric diseases. BioMarin was awarded the voucher when it received approval of VIMIZIM, a new biological product for patients with Mucopolysaccharidosis type IVA, also known as Morquio A syndrome. BioMarin received $67.5M from Regeneron Ireland, an indirect, wholly-owned subsidiary of Regeneron Pharmaceuticals (REGN), in exchange for the voucher. "Leveraging the sale of the Priority Review Voucher to reinvest in products to treat rare and ultra-rare diseases makes the most sense for BioMarin given our stage of growth," said Jean-Jacques Bienaimé, CEO of BioMarin.
News For BMRN;REGN From The Last 14 Days
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March 27, 2015
10:29 EDTBMRNBioMarin rises amid takeover speculation, price target raises
The shares of BioMarin (BMRN) are climbing after a blog reported last night that Shire (SHPG) is considering offering to acquire the company. Meanwhile, analysts at UBS and Deutsche raised their price targets for the orphan drug maker, in part due to the possibility of a takeover. WHAT'S NEW: "Well-informed" sources are saying that Shire recently approached BioMarin about a merger deal, Ben Harrington of the blog Betaville reported last night. It's not clear how far the talks have progressed, but Morgan Stanley and Lazard are advising Shire on a deal that could be worth $65B, the blog added. ANALYSTS' TAKE: The recent acquisition of Pharmacyclics (PCYC) by AbbVie (ABBV) shows that drug companies need to acquire products and pipelines, UBS analyst Andrew Peters wrote in a note to investors earlier today. Given its diversified pipeline of orphan products and multi-billion revenue potential, BioMarin is among the most attractive targets in the sector, according to Peters. As a result, the analyst finds it appropriate to assign premiums to drug companies for their strategic value. Additionally, the analyst has become more upbeat on several of BioMarin's pipeline drugs and on its R&D capabilities. He raised his price target on the stock to $136 from $112 and kept a Buy rating on the shares. Also upbeat on the stock was Deutsche Bank analyst Robyn Karnauskas. BioMarin's top four pipeline drugs have 25%-50% chances of succeeding, but not everything in the company's pipeline needs to work for it to obtain an M&A premium, the analyst stated in a note to investors today. She believes that BioMarin can be acquired for $194-$271 per share in the next year, depending on the data from several of its drug candidates. The analyst raised her price target on the name to $140 from $90 and kept a Buy rating on the stock. PRICE ACTION: In early trading, BioMarin jumped 13.5% to $130. PRICE ACTION: In early trading, BioMarin climbed 13.5% to $130.
10:01 EDTBMRNHigh option volume stocks
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09:26 EDTBMRNOn The Fly: Pre-market Movers
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08:17 EDTBMRNDeutsche Bank biotech analyst holds an analyst/industry conference call
Biotech Analyst Karnauskas provides a deep dive look into BioMarin on an Analyst/Industry conference call to be held on March 27 at 10 am.
07:38 EDTBMRNBioMarin price target raised to $140 from $90 at Deutsche Bank
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05:58 EDTBMRNBioMarin price target raised to $136 from $112 at UBS
UBS analysts Andrew Peters and Matthew Roden raised their price target for BioMarin (BMRN) shares to $136 saying investors "are still well served" to buy the stock despite the recent outperformance and talk of a bubble in the Biotech space. The analysts view BioMarin as among the most attractive takeover targets in biotech. They add the company's 2015 is filled with pipeline catalyst and keep a Buy rating on the name. The target raise at UBS comes after Ben Harrington last night, former M&A and Markets Editor at the Daily Telegraph and current editor of the blog Betaville, said that Shire (SHPG) is weighing a takeover of BioMarin. Shares of the orphan drug maker closed yesterday down 7c to $115.55 and are trading up $8.95 to $124.50 in pre-market trading.
March 26, 2015
19:30 EDTBMRNBioMarin up 4% after blog says Shire weighing takeover
BioMarin (BMRN) is trading up over 4% in the after-hours after Ben Harrington, former M&A and Markets Editor at the Daily Telegraph and current editor of the blog Betaville, said that Shire (SHPG) is weighing a takeover of BioMarin. Reference Link
10:10 EDTBMRNAnalyst calls sharp pullback in biotech stocks 'misguided'
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06:45 EDTBMRNBiotech valuation concerns 'misguided,' says Piper Jaffray
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March 25, 2015
11:03 EDTREGNRegeneron confirms FDA approval of EYLEA
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10:35 EDTREGNFDA approves expanded indication for Eylea
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March 23, 2015
07:17 EDTREGNAmerican Academy of Dermatology to hold annual meeting
73rd Annual Meeting of AAD is being held in San Francisco on March 20-24.
March 20, 2015
10:00 EDTREGNOn The Fly: Analyst Initiation Summary
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08:05 EDTREGNRegeneron initiated with a Buy at Chardan
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March 17, 2015
07:18 EDTBMRNMyriad Genetics announces collaboration expansion with BioMarin
Myriad Genetics (MYGN) announced an expansion of the company's collaboration with BioMarin Pharmaceutical (BMRN). Under the expanded collaboration, BioMarin will use Myriad's myChoice HRD companion diagnostic test to prospectively identify patients with metastatic breast, ovarian and potentially other tumor types that may be sensitive to talazoparib. Financial terms were not disclosed.
March 16, 2015
10:28 EDTBMRNOptions with increasing implied volatility
Options with increasing implied volatility: PVA NFLX BMRN DNOW MYL TEVA PEP GE
08:23 EDTREGNPCSK9 data continues to impress, says Leerink
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07:16 EDTREGNRegeneron Sanofi dupilumab drug can generate $6B+ in revenue, says Bernstein
Bernstein believes that dupilumab, a drug made by Regeneron and Sanofi, has shown strong efficacy in patients with severe atopic dermatitis. The firm notes that the drug is currently in pivotal trials involving patients with severe levels of other common diseases. The firm thinks the drug can generate $1.5B of revenue by 2018 and $3.8B by 2020. Bernstein keeps a $500 price target and Outperform rating on Regeneron.
06:40 EDTREGNPCSK9 studies show potential improvement in heart health, WSJ says
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March 15, 2015
13:04 EDTREGNSanofi, Regeneron announce publication of results of ODYSSEY long term trial
Sanofi (SNY) and Regeneron Pharmaceuticals (REGN) today announced that 18-month results of a Phase 3 trial of Praluent, alirocumab, an investigational therapy, involving 2,341 high risk patients with hypercholesterolemia were published online in The New England Journal of Medicine. In the ODYSSEY LONG TERM trial, Praluent 150 mg every two weeks reduced low-density lipoprotein cholesterol by an additional 62% at week 24 when compared to placebo, the primary efficacy endpoint of the study, with consistent LDL-C lowering maintained over 78 weeks."These results demonstrated the durable efficacy for Praluent when added to maximally-tolerated statin therapy and further reinforce its generally consistent safety profile," said Jennifer Robinson, M.D., M.P.H., Director of the Prevention Intervention Center, Professor, Departments of Epidemiology & Medicine, College of Public Health at the University of Iowa. "Additionally, the post hoc analysis of major cardiovascular events represents an important finding for Praluent -- we look forward to results from the ongoing ODYSSEY OUTCOMES trial, which is prospectively evaluating the potential of Praluent to reduce cardiovascular events."
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