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Stock Market & Financial Investment News

News Breaks
May 2, 2014
09:13 EDTBMRNBioMarin says change ups chance to hit cognition endpoint, says Janney Capital
Janney Capital noted that BioMarin's PEG-PAL study has been changed in terms of entry criteria, which will delay study results. However, the firm said management acknowledged that they think this change increases the chance of the study hitting the cognition endpoint, which Janney believes would strengthen the drug’s label and commercial outlook if it occurs. Janney has a Buy rating on BioMarin.
News For BMRN From The Last 14 Days
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November 24, 2014
12:59 EDTBMRNOn The Fly: Midday Wrap
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12:21 EDTBMRNBioMarin rises after agreeing to buy DMD drug maker Prosensa
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09:48 EDTBMRNBioMarin price target raised to $96 from $85 at Piper Jaffray
Piper Jaffray raised its price target for BioMarin (BMRN) shares to $96 saying the acquisition of Prosensa (RNA), while introducing new risk, makes sense given its expertise in Orphan Drug approvals. Piper keeps an Overweight rating on BioMarin.
09:23 EDTBMRNOn The Fly: Pre-market Movers
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09:20 EDTBMRNProsensa buyout not good for Sarepta, says Piper Jaffray
Piper Jaffray says it views the Prosensa (RNA) acquisition by BioMarin (BMRN) as bad for Sarepta (SRPT) since the company now has to compete with a "significantly more experienced and better funded orphan drug player." Piper adds that the takeover announced this morning has no impact on Sarepta's current drug filing process for its Duchenne muscular dystrophy drug eteplirsen. It keeps a Neutral rating on Sarepta with a $20 price target. The stock is trading up 9% in pre-market trading to $17.16 after BioMarin paid a healthy premium to acquire its peer Prosensa.
09:20 EDTBMRNBioMarin says Prosensa deal does not reflect deterioration of pipeline
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08:12 EDTBMRNSarepta rises after DMD competitor acquired at significant premium
Shares of Sarepta Therapeutics (SRPT) are up 9.5% to $17.23 in early pre-market trading after rival drugmaker Prosensa (RNA) agreed to be acquired by BioMarin (BMRN). BioMarin has offered to purchase all of the outstanding ordinary shares of Prosensa for $17.75 per share, for a total up front consideration of approximately $680M. In addition, two approximately $80M contingent milestones are payable for the approval of drisapersen in the U.S. and Europe. Drisapersen is Prosensa's lead exon-skipping drug candidate for treating Duchenne muscular dystrophy, or DMD. Sarepta is at work on eteplirsen, its own exon-skipping therapeutic candidate for the treatment of DMD. Prosensa closed trading Friday at $11.44 and are up about 65% to $18.90 in pre-market trading following the deal announcement.
06:44 EDTBMRNBioMarin to host conference call
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06:02 EDTBMRNBioMarin agrees to purchase all shares of Prosensa for $17.75 per share
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November 12, 2014
07:53 EDTBMRNLeerink to hold a tour
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November 10, 2014
10:04 EDTBMRNOn The Fly: Analyst Upgrade Summary
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06:02 EDTBMRNBioMarin upgraded to Buy from Neutral at Goldman
Goldman upgraded BioMarin to Buy based on increased confidence in BMN-111 for achondroplasia with expected proof-of-concept data in Q2 2015. The firm now sees a greater than 50% probability of success and peak sales of $900M. Price target raised to $104 from $78.

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