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Stock Market & Financial Investment News

News Breaks
July 9, 2014
11:57 EDTCELGCelgene shares higher despite missing primary endpoint in Otezla trial
Celgene Corporation (CELG) this morning said one of its drug, Otezla, did not achieve the primary endpoint in a Phase III trial. WHAT'S NEW: The biopharmaceutical company said Otezla, an oral treatment for adults with active psoriatic arthritis, did not achieve a statistically significant improvement when compared to placebo in its Phase III POSTURE study in patients with ankylosing spondylitis, a inflammatory spinal joint disorder. Despite missing the study's primary endpoint, Celgene said the drug did show "meaningful efficacy" in patients with early stages of the disease who took Otezla for a longer period. The company said evaluation of these efficacy results is ongoing. WHAT'S NOTABLE: Despite missing the primary endpoint, Celgene said that based on an assessment of the safety and efficacy data at week 24, an independent data monitoring committee recommended that the study proceed unchanged. Scott Smith, Global Head of Inflammation & Immunology at Celgene, says that the company is "encouraged" by its preliminary results, especially in patients with shorter disease duration. Smith said the company is planning to start another Phase III trial after it does more analysis. Celgene noted that Otezla is not approved to treat ankylosing spondylitis in any country. PRICE ACTION: Celgene shares were down as much as 1.5% earlier this morning, but are now up $1.12, or 1.31%, to $86.84 in late-morning trading. Year-to-date, shares are up nearly 3%.
News For CELG From The Last 14 Days
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September 1, 2015
10:05 EDTCELGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 8point3 Energy (CAFD) initiated with an Equal Weight at Barclays... AMAG Pharmaceuticals (AMAG) initiated with an Outperform at Raymond James... Acadia (ACHC) initiated with an Outperform at Leerink... Acorda Therapeutics (ACOR) initiated with a Market Perform at Raymond James... Alexion (ALXN) initiated with a Strong Buy at Raymond James... Amedisys (AMED) initiated with an Outperform at Wells Fargo... Amgen (AMGN) initiated with a Market Perform at Raymond James... Amplify Snack Brands (BETR) initiated with a Neutral at Credit Suisse... BioMarin (BMRN) initiated with an Outperform at Raymond James... Biogen (BIIB) initiated with a Strong Buy at Raymond James... Celgene (CELG) initiated with a Strong Buy at Raymond James... CoreLogic (CLGX) initiated with a Neutral at SunTrust... Digi International (DGII) initiated with an Overweight at Stephens... First Solar (FSLR) initiated with an Overweight at Barclays... LHC Group (LHCG) initiated with an Outperform at Wells Fargo... Lancaster Colony (LANC) initiated with a Buy at BB&T... McCormick (MKC) initiated with a Buy at BB&T... NephroGenex (NRX) initiated with a Buy at H.C. Wainwright... Omega Protein (OME) initiated with a Hold at BB&T... Preferred Apartment (APTS) initiated with an Outperform at FBR Capital... Qorvo (QRVO) initiated with an Outperform at CLSA... Regeneron (REGN) initiated with an Outperform at Raymond James... Skyworks (SWKS) initiated with an Outperform at CLSA... SunPower (SPWR) initiated with an Equal Weight at Barclays... TESARO (TSRO) initiated with a Strong Buy at Raymond James... Ultragenyx (RARE) initiated with an Outperform at Raymond James... VEREIT (VER) initiated with a Buy at Goldman... Westmoreland (WLB) initiated with an Outperform at BMO Capital.
04:47 EDTCELGStocks with implied volatility movement; CELG XLF
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August 31, 2015
19:27 EDTCELGCelgene initiated with a Strong Buy at Raymond James
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August 28, 2015
07:12 EDTCELGWilliam Blair names 21 stocks best positioned for volatile markets
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August 27, 2015
16:03 EDTCELGCelgene completes acquisition of Receptos
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August 25, 2015
07:31 EDTCELGCelgene announces expiration of tender offer for Receptos shares
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August 24, 2015
18:55 EDTCELGOn The Fly: After Hours Movers
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18:52 EDTCELGJazz, Celgene, Shire up after USPTO rejects Acorda patent challenge
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13:36 EDTCELGBiotech correction presents some opportunities, says RBC Capital
RBC Capital analyst Michael Yee said he won't try to pick the short-term bottom in biotech, but contends that any macro weakness in China shouldn't have any major impact to financials or fundamentals for the sector given their minimal exposure there. If the market continues to be volatile, Yee recommends a focus on names with defensive characteristics, such as higher margins and free cash flow yield, naming Amgen (AMGN), Celgene (CELG) and Gilead (GILD) as some examples. The analyst adds that he likes Vertex (VRTX) on the pullback for "more aggressive" growth investors. Yee has Outperform ratings on all of the stocks mentioned above.
August 23, 2015
12:35 EDTCELGBiotech firms could see 'billions' in sales from new cancer drugs, Barron's says
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