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Stock Market & Financial Investment News

News Breaks
August 11, 2014
04:55 EDTSTAA, STAA, STAA, VTL, VTL, VTL, ANAC, ANAC, ANAC, PTCT, PTCT, PTCT, SGMO, SGMO, SGMO, RNA, RNA, RNA, BLUE, BLUE, BLUE, BIND, BIND, BIND, FCSC, FCSC, FCSC, CRDC, CRDC, CRDC, DRTX, DRTX, DRTXWedbush to hold a conference
Life Sciences Management Conference to be held in New York on August 12-13.
News For DRTX;CRDC;FCSC;BIND;BLUE;RNA;SGMO;PTCT;ANAC;VTL;STAA From The Last 14 Days
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April 23, 2015
07:51 EDTPTCTPTC Therapeutics price target raised to $155 from $135 at Oppenheimer
Oppenheimer increased its price target on PTC after the company, along with Roche (RHHBY), presented data on its RG7800 drug that the firm believes showed proof-of-mechanism in health subjects. The firm recommends owning PTC ahead of two events: the scheduled October 2015 P3 read-out of Translarna in DMD, and an update on the MOONFISH trial of RG7800 slated to occur in early 2016. The firm keeps an Outperform rating on the shares.
06:18 EDTSGMOSangamo initiated with an Outperform at BMO Capital
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April 22, 2015
16:22 EDTBLUEbluebird bio initiated with an Outperform at BMO Capital
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16:10 EDTSGMOSangamo sees FY15 revenue $60M-$70M, consensus $67.71M
16:09 EDTSGMOSangamo reports Q1 EPS (8c), consensus (14c)
Reports Q1 revenue $13.5M, consensus $12.5M.
10:02 EDTBLUEOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Alcoa (AA) initiated with a Neutral at Cleveland Research... American Electric (AEP) initiated with a Neutral at Guggenheim... American Water (AWK) initiated with a Buy at Guggenheim... Anadarko (APC) initiated with a Buy at Nomura... Apache (APA) initiated with a Reduce at Nomura... Associated Banc Corp (ASB) initiated with a Market Perform at Wells Fargo... Cabot Oil & Gas (COG) initiated with a Neutral at Nomura... Canadian Natural (CNQ) initiated with a Buy at Nomura... Cenovus Energy (CVE) initiated with a Reduce at Nomura... Chesapeake (CHK) initiated with a Reduce at Nomura... Cimarex Energy (XEC) initiated with a Neutral at Nomura... Communications Sales & Leasing (CSAL) initiated with an Overweight at Stephens... Concho Resources (CXO) initiated with a Buy at Nomura... Consolidated Edison (ED) initiated with a Neutral at Guggenheim... Continental Resources (CLR) initiated with a Buy at Nomura... DTE Energy (DTE) initiated with a Buy at Guggenheim... Denbury Resources (DNR) initiated with a Reduce at Nomura... Depomed (DEPO) initiated with an Overweight at Piper Jaffray... Devon Energy (DVN) initiated with a Neutral at Nomura... Dominion (D) initiated with a Buy at Guggenheim... Duke Energy (DUK) initiated with a Buy at Guggenheim... EOG Resources (EOG) initiated with a Buy at Nomura... Edison International (EIX) initiated with a Neutral at Guggenheim... Encana (ECA) initiated with a Buy at Nomura... Entergy (ETR) initiated with a Neutral at Guggenheim... Eversource (ES) initiated with a Buy at Guggenheim... Exelon (EXC) initiated with a Buy at Guggenheim... FirstEnergy (FE) initiated with a Neutral at Guggenheim... Great Plains Energy (GXP) initiated with a Buy at Guggenheim... Hess Corp. (HES) initiated with a Neutral at Nomura... Marathon Oil (MRO) initiated with a Buy at Nomura... Media General (MEG) initiated with a Neutral at Nomura... Medley Capital (MCC) initiated with a Buy at Janney Capital... Murphy Oil (MUR) initiated with a Neutral at Nomura... Newfield Exploration (NFX) initiated with a Buy at Nomura... Newtek Business Services (NEWT) initiated with a Neutral at Ladenburg... NextEra Energy (NEE) initiated with a Buy at Guggenheim... Noble Energy (NBL) initiated with a Reduce at Nomura... Oasis Petroleum (OAS) initiated with a Neutral at Nomura... PG&E (PCG) initiated with a Neutral at Guggenheim... PPL Corp. (PPL) initiated with a Buy at Guggenheim... PSEG (PEG) initiated with a Buy at Guggenheim... Pernix Therapeutics (PTX) initiated with an Overweight at Piper Jaffray... Pinnacle West (PNW) initiated with a Neutral at Guggenheim... Pioneer Natural (PXD) initiated with a Buy at Nomura... RSP Permian (RSPP) initiated with a Buy at Wunderlich... Range Resources (RRC) initiated with a Buy at Nomura... STMicroelectronics (STM) initiated with a Buy at Craig-Hallum... Southern Company (SO) initiated with a Neutral at Guggenheim... Southwestern Energy (SWN) initiated with a Neutral at Nomura... Starz (STRZA) initiated with a Sector Perform at FBN Securities... Stellus Capital (SCM) initiated with a Neutral at Janney Capital... Suncor (SU) initiated with a Buy at Nomura... TECO Energy (TE) initiated with a Neutral at Guggenheim... Tribune Media (TRCO) initiated with a Hold at Jefferies... Ultra Petroleum (UPL) initiated with a Neutral at Nomura... Whiting Petroleum (WLL) initiated with a Neutral at Nomura... Zogenix (ZGNX) initiated with an Overweight at Piper Jaffray... bluebird bio (BLUE) initiated with a Buy at Maxim.
08:04 EDTBINDBIND Therapeutics presents data on BIND-014, AZD2811 at AACR
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07:07 EDTVTLEuropean Association for the Study of the Liver to hold annual meeting
50th Annual Meeting of EASL will be held in Vienna, Austria on April 22-26.
06:10 EDTBLUEbluebird bio initiated with a Buy at Maxim
Target $190.
April 20, 2015
17:04 EDTBLUEOn The Fly: Top stock stories for Monday
Stocks on Wall Street were higher for the day, beginning the session sharply higher and remaining in positive territory throughout. China’s central bank announced a reduction in bank reserve requirements in an effort to increase liquidity and spur economic growth within the country. Following the open, the market moved in a relatively narrow range as investors await the latest round of earnings reports for one of the season's heavier weeks. ECONOMIC EVENTS: In the U.S., the Chicago Fed National Activity Index came in at 0.42 versus expectations for positive 0.1. In Asia, the People's Bank of China lowered its reserve requirement ratio, by 1 percentage point, the lowest since the financial crisis. Despite this, the Shanghai Composite Index fell 1.6% because regulators had already begun curbing speculative trading on Friday. COMPANY NEWS: Morgan Stanley (MS) advanced 0.57%, or 21c, to $36.96 after reporting earnings prior to the market open. The bank beat on both EPS and revenue, and also raised its dividend to 15c from 10c. CEO James Gorman was pleased with the quarter and cited growth across the majority of the company's operations. MAJOR MOVERS: Among the notable gainers was Hasbro (HAS), which rose 12.55% to end the session at $74.16 after reporting EPS and revenue in excess of analyst expectations. During its earnings conference call, the company appeared confident on its 2015 offerings which include Disney (DIS) Princess and Frozen product lines. Also higher was Rovi (ROVI), gaining 8.64% to close the day at $19.11 after renewing its licensing and program guide agreement with Charter (CHTR). Among the noteworthy losers was Caesars Entertainment (CZR), tumbling 17.01% to $10 after failing to reach an agreement on its restructuring. Also lower were a number of medical companies involved in the development of CAR-T cancer therapies, including Kite Pharma (KITE), Juno Therapeutics (JUNO), blue bird bio (BLUE), and ZIOPHARM Oncology (ZIOP). The drop followed disappointing, small-scale studies presented during the annual meeting of the American Association for Cancer Research. INDEXES: The Dow rose 208.63, or 1.17%, to 18,034.93, the Nasdaq advanced 62.79, or 1.27%, to 4,994.6, and the S&P 500 gained 19.22, or 0.92%, to 2,100.4.
12:31 EDTBLUEOn The Fly: Top stock stories at midday
Stocks on Wall Street were higher at midday after China’s central bank relaxed reserve requirements for its banks. The nation's own stock market struggled to overcome the cross current of other actions taken to cut down on speculative trading there, but U.S. stock markets surged at the open and had not looked back by midday. The domestic economic calendar has quiet and earnings continue to be the focal point at home, as a great number of S&P 500 companies prepare to report this week. ECONOMIC EVENTS: In the U.S., the Chicago Fed National Activity Index had a reading of -0.42, versus expectations for a +0.10 reading. A reading below zero represents economic activity below trend. In China, the People's Bank of China cut the reserve-requirement ratio, or the amount of reserves lenders need to hold, by 1 full percentage point, which was the biggest cut since the depths of the financial crisis and more than expected by economists. However, the Shanghai Composite Index still dropped 1.6%, since the reserve-requirement cut came after regulators had moved to curb speculative trading with actions taken Friday. COMPANY NEWS: Shares of Morgan Stanley (MS) advanced 1% after the bank's headline earnings excluding certain adjustments and tax benefits beat expectations. CEO James Gorman noted that the first quarter of the year was the bank's "strongest quarter in many years with improved performance across most areas of the firm." Morgan Stanley also increased its quarterly dividend to 15c per share from 10c per share. MAJOR MOVERS: Among the notable gainers was Hasbro (HAS), which gained 10% after the toymaker's sales and profits widely topped expectations in its fiscal first quarter. Also higher was Rovi (ROVI), which gained more than 10% after the company announced it has renewed its patent license and interactive program guide product agreement with Charter Communications (CHTR). Among the noteworthy losers was FARO Technologies (FARO), which dropped 25% and was downgraded by Noble Financial and Needham after the preannounced lower than expected first quarter revenue. Also lower were a number of companies that are developing CAR-T cancer therapies following the annual meeting of the American Association for Cancer Research. Mizuho analyst Peter Lawson attributed the pullback to disappointment in this weekend's solid tumor data on a small number of patients with advanced cancers who were given CAR-T therapy developed by Novartis (NVS) and the University of Pennsylvania. Shares of Kite Pharma (KITE), Juno Therapeutics (JUNO), blue bird bio (BLUE), and ZIOPHARM Oncology (ZIOP) were all lower near noon. INDEXES: Near midday, the Dow was up 236.19, or 1.32%, to 18,062.49, the Nasdaq was up 59.54, or 1.21%, to 4,991.35, and the S&P 500 was up 21.82, or 1.05%, to 2,103.00.
11:44 EDTBLUECAR-T therapy stocks fall following cancer research meeting
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08:19 EDTPTCTPTC Therapeutics to present Phase 1 clinical data from SMA program
PTC Therapeutics announced that Phase 1 clinical data from the company's joint development program with Roche and the SMA Foundation in spinal muscular atrophy, or SMA, will be presented at the 2015 American Academy of Neurology 67th Annual Meeting. As previously disclosed, findings from the Phase 1 study indicated that RG7800, an investigational oral therapy for SMA, showed a favorable safety profile and was well tolerated at all dose levels studied. In addition, proof of mechanism was demonstrated by a dose-dependent effect on Survival Motor Neuron 2, or SMN2, splicing towards the production of full length SMN2 mRNA. The Phase 1 study was a single ascending dose, placebo-controlled, double-blind study in 48 healthy volunteers testing single oral doses from 0.5 to 90 mg.
07:59 EDTPTCTJPMorgan sees range-bound as best case for PTC shares
JPMorgan believes the many triple-digit price targets for shares of PTC Therapeutics factor in unrealistic expectations for the company's pipeline in the absence of positive phase 3 data. The firm expects shares to be range bound in a best case with volatility likely amid continued takeover speculation. JPMorgan thinks a potential buyer is unlikely to pay "significantly" higher than current shares levels, particularly with the Phase 3 trial of ataluren in Duchenne muscular dystrophy in Q4. The firm raised its price target for PTC shares to $77 from $65 to reflect the MPS 1 opportunity for Translarna. It reiterates a Neutral rating on the stock.
April 17, 2015
07:45 EDTBLUEbluebird bio price target raised to $150 from $117 at JPMorgan
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April 16, 2015
10:00 EDTPTCTOn The Fly: Analyst Upgrade Summary
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07:58 EDTPTCTPTC Therapeutics upgraded to Outperform at Cowen
As previously reported, Cowen upgraded PTC Therapeutics to Outperform from Market Perform ahead of its upcoming ACT-DMD data in the fourth quarter. The firm expects positive Phase 3 data after Phase 2 data established proof of concept. Cowen raised its price target to $120 from $70 on PTC Therapeutics to reflect the chance of success of Translarna in DMD.
07:55 EDTPTCTPTC Therapeutics upgraded to Outperform from Market Perform at Cowen
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April 13, 2015
13:25 EDTFCSCEagle Pharmaceuticals appoints Fibrocell CEO to board of directors
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09:13 EDTBLUEbluebird bio has a conference call hosted by JPMorgan
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