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Stock Market & Financial Investment News

News Breaks
January 8, 2014
09:20 EDTBMRNBioMarin initiated with a Neutral at Nomura
Target $75.
News For BMRN From The Last 14 Days
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May 20, 2015
15:42 EDTBMRNTheStreetSweeper says short Sarepta
The Street Sweeper stated on Twitter that Sarepta (SRPT) has a "long way to go" and "We’re short." It also noted that Canaccord says if BioMarin's (BMRN) DMD drug is approved first that the pressure to approve Sarepta's “may decrease.” Reference Link
11:46 EDTBMRNBioMarin sees self as buyer, not acquisition candidate, dealReporter says
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10:22 EDTBMRNSarepta soars after FDA agrees to accept DMD drug submission
The shares of Sarepta Therapeutics (SRPT) are rallying after the company announced that, following meetings with the FDA, it would submit its eteplirsen drug for the agency's approval. Last October, the FDA said the company would have to submit more data on the drug before the agency would consider approving the treatment. WHAT'S NEW: Sarepta announced last night that it would submit its eteplirsen to the FDA for approval. The submission will be done on a rolling basis, with various components of the application being submitted separately. Eteplirsen is a treatment for Duchenne muscular dystrophy or DMD. ANALYST REACTION: Roth Capital analyst Debjit Chattopadhyay responded to the news by more than doubling his price target on Sarepta to $45 from $22. The analyst is upbeat on Sarepta's approach of seeking to address DMD patients' lack of dystrophin, which he calls the patients' primary biochemical defect. He predicts that both eteplirsen and another DMD treatment, BioMarin's (BMRN) drisapersen, will be recommended for approval at a joint panel meeting in the second half of 2015. While both drugs are likely to be approved, BioMarin's decision to not yet initiate new studies on its DMD treatment has placed Sarepta in the pole position, Chattopadhyay believes. BioMarin will have to run additional studies and if both drugs are approved, BioMarin will find it difficult to recruit patients due to drisapersen's safety profile, according to the analyst. Chattopadhyay continues to believe that Sarepta's PMO platform will be the winner in DMD and he kept a Buy rating on the stock. More upbeat on BioMarin was Jefferies analyst Eun Yang. After meeting with BioMarin's management, the analyst reported that the company's confidence has increased following its pre-submission discussions with the FDA. If the FDA approves drisapersen on a non-accelerated basis, BioMarin may not be required to conduct any additional studies, the analyst stated. Yang sees a 60% chance of the drug being approved and believes that the stock would rise more than 25% if approval is granted. The analyst kept a $135 price target and Buy rating on BioMarin shares. PRICE ACTION: In early trading Sarepta climbed 45% to $23.81 and BioMarin was little changed at $125 per share.
09:10 EDTBMRNSarepta price target raised to $43 from $34 at William Blair
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09:05 EDTBMRNSarepta price target raised to $45 from $22 at Roth Capital
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07:48 EDTBMRNBioMarin has a conference call hosted by JPMorgan
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07:17 EDTBMRNBioMarin can rally over 25% on drisapersen approval, says Jefferies
Jefferies analyst Eun Yang sees greater than 25% upside in shares of BioMarin should the FDA approve drisapersen for Duchenne muscular dystrophy. After hosting an investor dinner with management, Yang says BioMarin's confidence in drisapersen approvability has increased. The analyst's model, which includes a price target for shares of $135 and a Buy rating, assumes 60% probability of approval for drisapersen. Shares of BioMarin closed yesterday down $1.03 to $124.99.
May 14, 2015
09:35 EDTBMRNBioMarin management to meet with Jefferies
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