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Stock Market & Financial Investment News

News Breaks
February 19, 2014
07:43 EDTBMRNBioMarin price target raised to $90 from $84 at Leerink
Leerink raised its price target for BioMarin shares to $90 citing the company's strong 2013 results and "bullish" 2014 outlook. The firm keeps an Outperform rating on the stock.
News For BMRN From The Last 14 Days
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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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