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Stock Market & Financial Investment News

News Breaks
April 12, 2014
19:23 EDTENTA, ABBVEnanta reports detailed results from Turquoise ll study
Enanta Pharmaceuticals (ENTA) announced that detailed results from AbbVie’s (ABBV) pivotal phase 3 TURQUOISE-II study, will be presented as a late-breaking oral presentation at the International Liver Congress, ILC, which is the 49th Annual Meeting of the European Association for the Study of the Liver, EASL. Results from the TURQUOISE-II study were featured in the ILC press conference and were published on-line in the New England Journal of Medicine. The TURQUOISE-II study reports results from AbbVie’s investigational three direct-acting antiviral regimen containing ABT-450, Enanta’s lead protease inhibitor discovered through Enanta’s collaboration with AbbVie. The regimen consists of boosted protease inhibitor ABT-450/ritonavir, NS5A inhibitor ABT-267, and non-nucleoside polymerase inhibitor ABT-333. TURQUOISE-II is a global, multi-center, randomized, open-label study evaluating the efficacy and safety of 12 weeks or 24 weeks of treatment with AbbVie's three direct-acting antiviral regimen with ribavirin, RBV, in adult patients with genotype 1, GT1, chronic hepatitis C virus, HCV, infection with compensated liver cirrhosis. Patients achieved sustained virologic response rates 12 weeks post-treatment, SVR12, of 91.8% and 95.9% in the 12-week and 24-week treatment arms, respectively. Patients in the study were either new to therapy or treatment-experienced, failed previous treatment with pegylated interferon and RBV.
News For ENTA;ABBV From The Last 14 Days
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January 30, 2015
07:50 EDTABBVAbbVie reports Q4 Humira sales up 10.6% to $3.36B
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07:49 EDTABBVAbbVie sees FY15 adjusted EPS $4.25-$4.45, consensus $4.37
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07:48 EDTABBVAbbVie reports Q4 GAAP revenue $5.45B, consensus $5.36B
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07:48 EDTABBVAbbVie reports Q4 adjusted EPS 89c, consensus 86c
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January 29, 2015
15:37 EDTABBVNotable companies reporting before tomorrow's open
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14:46 EDTABBVAbbVie technical comments ahead of earnings, levels to watch
The shares have been trending down since hitting the 52-week high of $70.76 back in early December of last year. At the current price of $63.01, the first important support level to watch on negative news or outlook would be at the 200-day moving average, last at $58.04. A test and a bounce there would be bullish, while a breakdown would be bearish for the longer-term uptrend. Levels to watch below the 200-day are at $56.51, and then at $55.80. If the news is a positive surprise, the first resistance level of note as a potential upside objective is at the $65 area. A breakout above $65 would turn the trend to bullish, with next resistance levels at $67.16, $68.29, and the 52-week high at $70.76.
13:38 EDTABBVEarnings Preview: AbbVie reports Q4 results after FDA Viekira Pak approved
AbbVie (ABBV) is scheduled to report fourth quarter earnings before the market open on Friday, January 30 with a conference call scheduled for 9:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of 86c on revenue of $5.36B, according to First Call. The consensus range for EPS is 82c-90c on revenue of $5.17B-$5.59B. LAST QUARTER: AbbVie reported third quarter EPS of 89c, considerably higher than consensus estimates of 77c, on revenue of $5.02B against estimates of $4.82B. The company raised its fiscal year 2014 EPS view to $3.25-$3.27 from $3.06-$3.16 against consensus estimates of $3.16. On its Q3 earnings conference call the company said it is "well on track" to exceed original Humira sales forecast for FY14. CEO Richard Gonzalez commented on the quarter, "Our Q3 results reflect the strong performance of our business with double-digit growth from Humira and several other key brands. Our underlying business grew nearly 14% in the quarter excluding lipids, We exceeded our outlook for the quarter and have significantly raised our original 2014 guidance. In Q4, we look forward to the U.S. approval of our interferon-free HCV combination, which will further accelerate sales and earnings growth in 2015 and beyond." STREET RESEARCH: On January 9, BofA/Merrill downgraded AbbVie to Neutral based on valuation with a price target of $70. On January 6, UBS raised its price target on AbbVie shares to $76 from $72, citing increased market share assumptions for the company's Viekira Pak Hep C regimen and a more favorable view of the regimen's approval chances in the EU. The firm maintained its Buy rating on the stock. PRICE ACTION: AbbVie shares are up around 3% since the company's last earnings report on October 31 and are up around 1.5% to $62.83 in midday trading ahead of Friday's earnings release.
January 16, 2015
10:10 EDTABBVAbbVie announces FDA approval of DUOPA enteral suspension
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07:04 EDTABBV, ENTAEnanta says EU grants marketing authorizations for AbbVie's Viekirax
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05:05 EDTABBVAbbVie granted marketing authorization by EC for VIEKIRAX + EXVIERA
AbbVie announced that the European Commission has granted marketing authorizations for its all-oral, short-course, interferon-free treatment of VIEKIRAX + EXVIERA. The treatment has been approved with or without ribavirin for patients with genotype 1 chronic hepatitis C virus infection, including those with compensated liver cirrhosis, HIV-1 co-infection, patients on opioid substitution therapy and liver transplant recipients.1,2 Additionally, VIEKIRAX has been approved for use with RBV in genotype 4 chronic hepatitis C patients.

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