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Stock Market & Financial Investment News

News Breaks
May 2, 2014
06:11 EDTBMRNBioMarin says BMN 165-302 study to be available in Q4 of 2015
BioMarin announced last night that it intends to modify the entry criteria for the BMN 165-302 randomized discontinuation study. "The purpose of the eligibility modification is to leverage those patients who have relatively weaker immune reactions to PEG PAL, who therefore achieve Phe reductions faster, at relatively lower doses and with relatively fewer side effects. Under the revised entry criteria, patients will need to demonstrate a pre-specified reduction in blood Phe from PEG PAL during the BMN 165-301 feeder study prior to entering the BMN 165-302 RDT study," it stated. Based on the changed BMN 165-302 protocol, associated review of the proposed protocol and preliminary BMN 165-301 data with the FDA, and requirement for additional patients, the company now expects data from the enriched BMN 165-302 study to be available in Q4 of 2015.
News For BMRN From The Last 14 Days
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June 29, 2015
12:53 EDTBMRNSarepta NDA submission for eteplirsen done ahead of schedule, says Piper Jaffray
Piper Jaffray noted that Sarepta (SRPT) completed its rolling NDA submission for eteplirsen ahead of schedule and the firm believes that concurrent advisory committee meetings for its DMD drug and BioMarin's (BMRN) drisapersen could take place this fall. The firm has a Neutral rating and $20 price target on Sarepta and Overweight rating and $147 target on BioMarin.
08:36 EDTBMRNBioMarin announces FDA acceptance of drisapersen NDA
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June 25, 2015
16:03 EDTBMRNBioMarin announces EMA validates MAA for drisapersen for treatment of DMD
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June 23, 2015
07:49 EDTBMRNPTC Therapeutics risk lowered by symposium, says Oppenheimer
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07:25 EDTBMRNPiper Jaffray to hold a summit
2015 Piper Jaffray Heartland Summit is being held in Minneapolis on June 23-24.
June 19, 2015
10:28 EDTBMRNBioMarin slips after Baird breaks from pack with downgrade
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10:00 EDTBMRNOn The Fly: Analyst Downgrade Summary
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06:33 EDTBMRNBioMarin downgraded to Neutral from Outperform at Baird
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June 18, 2015
12:34 EDTBMRNOn The Fly: Top stock stories at midday
Stocks on Wall Street opened in positive territory and continued to tack on gains throughout the morning. The move has been broad based, with each of the major averages gaining at least 1%. The move may be reflecting investors feeling a sense of relief following yesterday’s FOMC meeting, after which the central bank repeated its promise to be gradual in raising rates, without specifying when rate "lift-off" will commence. ECONOMIC EVENTS: In the U.S., the consumer prices index rose 0.4% in the month of May, versus expectations for a 0.5% increase. The core reading, which removes food and energy prices, rose 0.1%, versus the expected increase of 0.2%. Initial jobless claims dipped 12,000 to 267,000 in the week ended June 13, versus expectations for 277,000 first-time claims. The Philadelphia Fed manufacturing survey climbed 8.5 points to 15.2 in June, topping expectations for a reading of 8. The leading indicators rose 0.7% to 123.1 in May, topping expectations for a rise of 0.4%. In Europe, International Monetary Fund chief Christine Lagarde reportedly said Greece won’t be given a grace period if it fails to make its scheduled payment to the fund on June 30. Meanwhile, finance ministers of euro area member states are set to meet today, but expectations for progress on Greece are low. Also, the Norwegian central bank cut interest rates to a record low, while the Swiss National Bank kept its deposit rate at record lows as well. In Asia, the Shanghai composite index tumbled 3.7% overnight, doubling its weekly decline to 7.4% and increasing fears that a bubble in the nation's stock market may be preparing to burst. COMPANY NEWS: Shares of enterprise software, hardware and IT services provider Oracle (ORCL) dropped 7% after the company reported lower than expected fourth quarter earnings per share and gave a lower than expected forecast for profit in its new quarter. Analysts at several firms, including Susquehanna, Wells Fargo and Cantor, suggested the post-earnings drop may be a buying opportunity, citing progress in the company's cloud efforts... Fitness tracker maker Fitbit (FIT) surged nearly 50% in its first day of public trading. The company priced its initial public offering at $20 per share, topping expectations, then opened at $30.40 per share, giving it a market value near $6.3B in early trading. Near noon, the stock had pulled back a bit to trade just below $30 per share. MAJOR MOVERS: Among the notable gainers was PBF Energy (PBF), which gained 18% after announcing that its subsidiary has signed a definitive agreement to purchase Chalmette Refining, a joint venture between affiliates of Petroleos de Venezuela and ExxonMobil (XOM). Also higher was BioMarin (BMRN), which rose 13% after the company reported results from a study of BMN-111 in dwarfism and several analysts hiked their price targets on the stock to reflect the increased probability of success for the drug. Among the noteworthy losers following their earnings reports were Bankrate (RATE), which fell 18%, and Jabil Circuit (JBL), which dropped 7%. INDEXES: Near midday, the Dow was up 218.44, or 1.22%, to 18,154.18, the Nasdaq was up 74.96, or 1.48%, to 5,139.84, and the S&P 500 was up 23.57, or 1.12%, to 2,124.01.
12:09 EDTBMRNBioMarin management to meet with SunTrust
Meetings to be held in Baltimore/Wilmington/Philadelphia on June 24-25 hosted by SunnTrust.
09:04 EDTBMRNOn The Fly: Pre-market Movers
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08:01 EDTBMRNBioMarin price target raised to $170 from $151 at SunTrust
SunTrust believes that the data for BioMarin's treatment for achondroplasia, the most common form of dwarfism, was compelling. The firm says that the data provides a solid proof-of-concept, and it keeps a Buy rating on the shares.
07:42 EDTBMRNBioMarin price target raised to $145 from $125 at RBC Capital
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07:10 EDTBMRNBioMarin price target raised to $156 from $140 at Deutsche Bank
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06:50 EDTBMRNBioMarin price target raised to $151 from $140 at JPMorgan
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06:00 EDTBMRNBioMarin price target raised to $156 from $150 at Barclays
Barclays raised its price target for BioMarin to $156 after vosoritide in a Phase 2 study showed a "clinically meaningful" 50% mean increase in annualized growth velocity for children with achondroplasia. The study, in effect, returned children with achondroplasia to normalized growth patterns, the firm tells investors. It views vosoritide as de-risk and keeps an Overweight rating on BioMarin. Piper this morning raised its price target for shares to $147.
05:54 EDTBMRNBioMarin price target raised to $147 from $123 at Piper Jaffray
Piper Jaffray analyst Joshua Schimmer raised his price target for BioMarin shares to $147 after the company reported results from the Phase 2 trial of BMN111 in children with achondroplasia. The data showed an "impressive" 50% increase to the annualized grow rate of the children in high dose cohort, Schimmer tells investors in a research note. He views BMN111 as de-risked following the data and sees potential peak revenue of above $1B. Schimmer reiterates an Overweight rating on BioMarin. The stock is up $10.40 to $134.00 in pre-market trading.
June 17, 2015
16:38 EDTBMRNBioMarin trades higher in after hours session
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16:26 EDTBMRNBioMarin up 6.5% after positive results from Phase 2 Vosoritide trial
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16:07 EDTBMRNBioMarin 'very encouraged' by Phase 2 Vosoritide trial
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