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Stock Market & Financial Investment News

News Breaks
March 20, 2013
08:35 EDTBMRNBioMarin should be bought on any weakness, says RW Baird
Baird recommends taking advantage of any weakness in BioMarin following its positive announcement the BMN-701 met the criteria to advance to Phase ll/lll. The firm believes the announcement was tempered by the proposed path to registration and clinical endpoints but could still be meaningfully differentiated from its existing competitor. Shares are Outperform rated with a $63 price target.
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July 23, 2014
08:10 EDTBMRNBioMarin, Sarah Cannon Research UK collaborate on EMBRACA clinical study
BioMarin Pharmaceutical and Sarah Cannon Research UK announced a collaboration to enroll patients in an ongoing Phase 3 clinical trial of its PARP inhibitor, BMN 673, for the treatment of hereditary breast cancer with a BRCA mutation. This ongoing Phase 3 trial has recently been named EMBRACA. Sarah Cannon Research UK enrolled the first patient outside of the United States, expanding the trial internationally.
07:44 EDTBMRNBioMarin survey shows strong Vimizim demand, says Leerink
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July 15, 2014
10:56 EDTBMRNFed calls small cap social media, biotech valuations 'stretched'
The Board of Governors of the Federal Reserve in its Monetary Policy Report dated today said valuation metrics in "some sectors" appear substantially stretched, "particularly those for smaller firms in the social media and biotechnology industries, despite a notable downturn in equity prices for such firms early in the year." A later part in the document reads, "Equity valuations of smaller firms as well as social media and biotechnology firms appear to be stretched, with ratios of prices to forward earnings remaining high relative to historical norms." The specific targeting of sectors by the Fed seems to be having an impact on stocks in the social media and biotech spaces. Shares of Yelp (YELP) are down over 5% to $67.51, while Twitter (TWTR) and Facebook (FB) are each down 2%. Celgene (CELG) and Amgen (AMGN) are leading the biotech space lower with pullbacks of greater than 1%.

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