New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 11, 2014
Life Sciences Management Conference to be held in New York on August 12-13.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 >>
November 20, 2015
13:26 EDTPTCTOn The Fly: Top stock stories at midday
Stocks began the session sharply higher and have remained there since the open. The move higher has come despite a barren economic calendar and amid headlines coming out of Mali regarding a new terrorist event that took place there. The equity market is working on its fourth higher close in the past five sessions, while oil prices continue struggling to stay above $40 per barrel. ECONOMIC EVENTS: In the U.S., no major economic data was released. COMPANY NEWS: Shares of Nike (NKE) advanced nearly 5% after the Dow member announced a two-for-one stock split, a $12B stock repurchase program and plans to boost its dividend... BioMarin (BMRN) shares were down 4% near noon, but that was well off their worst levels of the day, after the FDA posted briefing materials ahead of next weeks advisory committee meeting to review the New Drug Application for Kyndrisa for the potential treatment of Duchenne muscular dystrophy amendable to exon 51 skipping. Sarepta (SRPT), which is at work on a competing drug, eteplirsen, that has its own committee review scheduled for January, rose 31% and another player in the DMD space, PTC Therapeutics (PTCT), fell 7.5%. MAJOR MOVERS: Among the notable gainers was Abercrombie & Fitch (ANF), which rallied 21% after the company reported better than expected quarterly earnings. Also higher was Cabela's (CAB), which gained 10% after Bloomberg reported that the company was receiving takeover interest. In addition, Foot Locker (FL) was up 5% after reporting Q3 earnings and guiding for Q4. Among the noteworthy losers was Nimble Storage (NMBL), which fell 50% after its stock was downgraded by no fewer than 11 analysts following its quarterly report. Also lower was Mentor Graphics (MENT), which lost 32% after its shares were downgraded by no fewer than five analysts. INDEXES: In early afternoon trading, the Dow was up 101.65, or 0.57%, to 17,834.40, the Nasdaq was up 32.02, or 0.63%, to 5,105.66, and the S&P 500 was up 10.09, or 0.48%, to 2,091.33.
11:52 EDTVTLMartin Shkreli says shorting Vital Therapies
Subscribe for More Information
08:05 EDTPTCTBioMarin drops after FDA posts review of DMD drug drisapersen
Shares of BioMarin are down 7% to $96.01 after the FDA posted a review of the company's Duchenne muscular dystrophy treatment drisapersen ahead of Tuesday's panel vote. Sarepta Therapeutics (SRPT), which is developing its own treatment for DMD, is trading higher while PTC Therapeutics (PTCT) is moving lower. Reference Link
November 19, 2015
16:19 EDTCRDCCardica issues voluntary removal of MicroCutter XCHANGE 30 Blue Cartridge
Cardica nnounced that it has initiated a voluntary removal of the remaining inventory of approximately 225 MicroCutter XCHANGE 30 Blue Cartridges from the market. Currently, Cardica primarily sells the MicroCutter XCHANGE 30 Stapler in Europe which is labeled for use with the white cartridge only. Cardica has received two reports that using the blue cartridge with the MicroCutter XCHANGE 30 Stapler resulted in incomplete staple deployment. This can potentially result in an incomplete transection or anastomosis of tissue during the surgical procedure. There have been no reported clinical events or patient injury related to this issue with the Blue Cartridge. mportantly, the MicroCutter XCHANGE 30 Stapler with the white cartridge continues to be available for sale and use in Europe and the U.S. In Europe, the device is used in minimally invasive thoracic surgery also known as video-assisted thoracic surgery or VATS and in parenchymal surgery for organs including the liver, kidney and pancreas.
16:18 EDTCRDCCardica, Broadfin announce framework of settlement agreement
Cardica announced that they have reached an agreement in principle on a number of items and continue to negotiate in good faith in an effort to end the contested election of directors at Cardica's upcoming Annual Meeting of Stockholders to be held January 29, 2016. These items include: Reducing the size of the board from 8 members to 7; Agreed-upon Board slate will consist of Julian Nikolchev, Michael Kleine, Gregory Casciaro, Samuel Navarro and William Younger plus two additional nominees to be mutually agreed upon from a short list provided by the company to Broadfin; board slate will be finalized no later than November 27.
14:49 EDTPTCTBefore the Move: Watch BioMarin into FDA advisory committee
BioMarin Pharmaceutical (BMRN), which develops and commercializes pharmaceuticals for serious diseases and medical conditions including Duchenne muscular dystrophy, or DMD, is awaiting an FDA advisory committee for its DMD drug drisapersen, which is brand named Kyndrisa. WHAT'S NEW: The Peripheral and Central Nervous System Drugs Advisory Committee is meeting on Tuesday, November 24 to discuss the New Drug Application, or NDA, for Biomarin's drisapersen. It is expected that briefing documents related to that meeting will be posted on the FDA's website tomorrow, Friday, November 20. BULLISH TAKE: On November 15, Leerink analyst Joseph Schwartz said he believes the FDA will feel compelled to approve at least one DMD drug due to "public attention and vocal demand," and says that most likely both drisapersen and Sarepta Therapeutics' (SRPT) eteplirsen will be approved. However, he also makes a case where eteplirsen is not approved due to the "extremely limited" clinical data on the drug. Schwartz noted that drisapersen's advisory panel on November 24 happens first and will be important for both companies, adding that he sees "significant" upside potential for BioMarin. On November 18, Goldman Sachs said it views the risk/reward in BioMarin as favorable, with the advisory committee as a key catalyst on the company's path to non-GAAP profitability. Goldman has a Buy rating on BioMarin shares. On November 19, Jefferies analyst Gena Wang wrote that a buy-side survey the firm conducted suggests positive expectations for BioMarin's advisory committee. Wang, who said the survey of 58 investors suggests buy-side expectations of a positive panel for Kyndrisa are 62%, noted that a positive outcome could push BioMarin higher by almost 20%, and positively impact peers PTC Therapeutics (PTCT) and Sarepta by over 20% and 6%, respectively. BAIRD CAUTIOUS: On November 19, Baird analyst Brian Skorney wrote a note titled "A Skeptic's Guide to DMD Regulatory Reviews" where he says the firm has "increasingly come to believe that the FDA is more likely to reject the NDA's for drisapersen and eteplirsen," although he notes the risk reward for BioMarin is skewed to the upside -- with 20% upside potential on approval, but only 10% downside potential on rejection. Baird has a Neutral rating on BioMarin. Skorney sees a 30% probability both drugs get approved during this review period, a 5% chance BioMarin's drug gets approved and Sarepta's gets rejected, a 5% chance Sarepta's gets approved and BioMarin's gets rejected, and a 60% chance that both get rejected. PRICE ACTION: In afternoon trading on Thursday, shares of BioMarin were down about 4.5% to $102.88, while shares of peers Sarepta and PTC Therapeutics were down 8% and 9.5%, respectively.
10:46 EDTPTCTOptions with increasing implied volatility
Options with increasing implied volatility: TERP PTCT CHK CSC GNC RH ULTA QCOM VIMC
10:25 EDTBLUEPiper Jaffray healthcare analyst holds an analyst/industry conference call
Sr Research Analyst Schimmer, along with Dr. Alan Cohen, member of the Medical Advisory Board of the Cooley's Anemia Foundation, discuss the emerging treatment options for Beta Thalassemia and Sickle Cell and emerging clinical data for key programs including Bluebird and Bellicum Pharmaceuticals on an Analyst/Industry conference call to be held on November 20 at 1 pm.
08:09 EDTVTLVital says FDA suggests incorporation of event-driven feature in VTL-308 trial
Subscribe for More Information
08:07 EDTPTCTPTC Therapeutics completes enrollment of Phase 3 clinical trial of Translarna
PTC Therapeutics has completed enrollment of ACT CF, the company's second Phase 3 clinical trial of Translarna for patients with nonsense mutation cystic fibrosis. Nonsense mutations in cystic fibrosis are categorized as Class I mutations, which are the most difficult to treat, as they result in little or no production of the cystic fibrosis transmembrane conductance regulator protein. Approximately 10% of cystic fibrosis patients have their disease as a result of a nonsense mutation. On September 30, 2015, the EMA validated the submission of a variation for a new indication for Translarna for the treatment of nmCF.
07:23 EDTPTCTBuy-side sees 62% chance of positive BioMarin panel, says Jefferies
Jefferies analyst Gena Wang says her firm's survey of 58 investors suggests buy-side expectations of a positive FDA panel on November 24 for BioMarin's (BMRN) Kyndrisa are 62%. Both positive and negative outcomes are expected to result in significant moves for all three stocks developing treatments for Duchenne muscular dystrophy, or BioMarin, Sarepta (SRPT) and PTC Therapeutics (PTCT), Wang tells investors in a research note. Investors expect a positive Kyndrisa outcome to push BioMarin shares 19% higher, PTC shares 23% higher and Sarepta shares 6% higher, the analyst points out. She notes that a negative panel vote is expected to drive all three stocks 20%-30% lower.
November 18, 2015
16:43 EDTBINDBIND Therapeutics gets $4M milestone payment from AstraZeneca
Subscribe for More Information
10:02 EDTBLUEOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Align Technology (ALGN) initiated with an Overweight at Piper Jaffray... Allegion (ALLE) initiated with a Buy at BofA/Merrill... Atara Biotherapeutics (ATRA) assumed with a Neutral at Goldman... Bankrate (RATE) initiated with a Buy at Topeka... Boulder Brands (BDBD) initiated with a Buy at Wunderlich... (CRCM) initiated with a Hold at Topeka... Coeur Mining (CDE) initiated with a Hold at Noble Financial... E.W. Scripps (SSP) initiated with an Equal Weight at Stephens... Etsy (ETSY) initiated with a Hold at Topeka... Euronet (EEFT) initiated with a Hold at Feltl... Fulton Financial (FULT) initiated with a Neutral at JPMorgan... Gray Television (GTN) initiated with an Overweight at Stephens... HP Enterprise (HPE) initiated with a Market Perform at Raymond James... Halozyme (HALO) initiated with a Buy at Citi... Incyte (INCY) initiated with a Buy at Goldman... Inventure Foods (SNAK) initiated with a Buy at Wunderlich... Isis Pharmaceuticals (ISIS) initiated with a Neutral at Goldman... Kite Pharma (KITE) initiated with a Buy at Goldman... Landec (LNDC) initiated with a Buy at Wunderlich... Lendingtree (TREE) initiated with a Buy at Topeka... Media General (MEG) initiated with an Equal Weight at Stephens... Meredith (MDP) initiated with an Equal Weight at Stephens... Nexstar (NXST) initiated with an Overweight at Stephens... OSI Systems (OSIS) initiated with a Buy at BB&T... PriceSmart (PSMT) initiated with an Outperform at Scotia Howard Weil... Qorvo (QRVO) initiated with an Outperform at JMP Securities... Seattle Genetics (SGEN) initiated with a Sell at Goldman... Sinclair Broadcast (SBGI) initiated with an Equal Weight at Stephens... TEGNA (TGNA) initiated with an Overweight at Stephens... Tribune Media (TRCO) initiated with an Equal Weight at Stephens... Xenia Hotels & Resorts (XHR) initiated with an Outperform at JMP Securities... bluebird bio (BLUE) initiated with a Buy at Goldman.
08:40 EDTBLUEbluebird bio December volatility up into clinical updates
Subscribe for More Information
08:32 EDTBLUEGoldman sees bluebird shares doubling on 'one-shot' gene therapy
Following a three and a half year rally for biotech stocks, and a more recent sector pullback from July's record high levels, Goldman Sachs analyst Salveen Richter said in a new note to investors that he has a Neutral view of the small- to mid-cap biotech space. Richter believes select small- to mid-cap biotech stocks should continue to outperform the broader market, but thinks stock picking is essential and laid out for investors who he thinks the winning and losing stocks in the space are likely to be. BUY BLUEBIRD: bluebird bio's (BLUE) innovative platform, which is designed to cure genetic diseases by introducing functional gene copies into a patient, makes it the "leading gene therapy play," contends Richter. bluebird's key value driver is LentiGlobin, a gene therapy for rare blood disorders, beta-thalassemia major and sickle cell disease, the analyst points out. Richter, who notes that bluebird has a major upcoming catalyst in the form of clinical updates from three Phase I/II studies of LentiGlobin in beta-thalassemia and sickle cell disease, set a 12-month price target of $165 on the stock, giving it 107% upside from current levels if his target is achieved. OTHERS TO BUY: Richter also recommends that investors own leading names in three areas of innovation, namely orphan diseases, gene therapy/editing, and immuno-oncology. In those areas, he identifies BioMarin (BMRN) as an orphan drug stock to buy, Incyte (INCY) as the best-positioned biotech immuno-oncology play for 2016 and Kite Pharma as a stock to own for the company's engineered T-cell platform focused on cancer. He set Buy rating on each of the three aforementioned names. SELL SEATTLE GENETICS: The only stock in the small- to mid-cap biotech space that Richter initiated coverage of with a Sell rating is Seattle Genetics (SGEN). The analyst acknowledges that the company is currently a leader in the antibody drug conjugate field, but thinks the consensus view of future competition for its Adcetris drug is "optimistic" and that the outlook for the rest of its pipeline is unclear. Richter set a 12-month price target of $33 on the stock, giving it 27% downside from current levels if his target is achieved. The analyst also began coverage of Atara Biotherapeutics (ATRA), Isis Pharmaceuticals (ISIS) and Juno Therapeutics (JUNO) with Neutral ratings, as he sees them all as having interesting drug platforms, but also believes their prospects are appropriately reflected in current valuations of their stocks. PRICE ACTION: Over the last six month, bluebird bio shares have fallen nearly 50%, but the stock has still more than doubled from where it was one year ago. In the last six months Seattle Genetics has risen 13%, bringing its gains over a one year timeframe to 28%.
08:02 EDTBINDBIND says AstraZeneca initiates patient dosing in AZD2811 Phase 1 trial
Subscribe for More Information
06:24 EDTBLUEbluebird bio initiated with a Buy at Goldman
Subscribe for More Information
November 16, 2015
11:49 EDTBLUELate-breaker ASH abstract to drive interest in bluebird, says Cowen
Subscribe for More Information
11:30 EDTBLUEbluebird bio ASH late-breaker abastract data a positive, says Wedbush
Subscribe for More Information
07:16 EDTSTAAStephens to hold a tour
Booth Tour at AAO 2015 in Las Vegas on November 16.
1 | 2 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use