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Stock Market & Financial Investment News

News Breaks
March 24, 2014
10:31 EDTCLDX, INCY, GILD, NPSPOppenheimer sees opportunities following biotech decline
After biotech stocks declined on Friday, Oppenheimer believes that the weakness in the sector has created a buying opportunity. The firm identifies Celldex (CLDX), Incyte (INCY) and NPS Pharmaceuticals (NPSP) as interesting biotech names. WHAT'S NEW: On Friday, biotech investors were concerned by a letter sent by several members of Congress to Gilead (GILD) regarding the price of its Hepatits C drug, Sovaldi, Oppenheimer analyst Dr. Boris Peaker wrote in a note to investors. However, the biotech sector's strong pricing power is unlikely to be curtailed In the near-term, Peaker believes. Since competing drugs are priced at similar levels as Sovaldi, Congress would have to lower the drugs' prices through legislation, which is unlikely to occur, Peaker forecast. Celldex's stock is attractive since its top drugs are very innovative, face no direct competition, are wholly owned by the company, and are unlikely to have biosimilars, Peaker wrote. Meanwhile, Incyte's Jakafi, a treatment for Myelofibrosis, could be used as a treatment for solid tumors following additional studies, the analyst forecast. Additionally, Jakafi is "highly innovative," and has not experienced any pricing pressures, the analyst stated. NPS' two major products, Gattex and Natpara, are both orphan drugs that provide significant benefits to patients and do not have any looming competition, Peaker said, adding that Gattex's U.S. sales should continue to be strong. Gattex is used to treat short bowel syndrome, while Natpara is supposed to treat hypoparathyroidism. Oppenheimer has Outperform ratings on all the stocks named. PRICE ACTION: In mid-morning trading, Gilead fell 2.3% to $70.40, Celldex gave back 6.6% to $20.10, Incyte tumbled 5.8% to $56, and NPS sank 5.8% to $28.35.
News For GILD;CLDX;NPSP;INCY From The Last 14 Days
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February 24, 2015
16:00 EDTCLDXCelldex files to sell 7.25M shares of common stock
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09:35 EDTGILDActive equity options trading on open
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07:15 EDTCLDXCelldex reports Q4 EPS (36c), consensus (35c)
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February 23, 2015
16:00 EDTGILDOptions Update; February 23, 2015
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09:39 EDTGILDActive equity options trading on open
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09:25 EDTCLDXOn The Fly: Pre-market Movers
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08:08 EDTCLDXCelldex rindopepimut receives FDA breakthrough therapy designation
Celldex Therapeutics announced that the FDA has granted rindopepimut Breakthrough Therapy Designation for the treatment of adult patients with EGFRvIII-positive glioblastoma, or GBM. This application was based on data from the Phase 2 ReACT study in recurrent GBM, the Phase 2 ACT III study in newly diagnosed GBM and additional supportive Phase 2 studies. An international Phase 3 study of rindopepimut, called ACT IV, in newly diagnosed GBM completed enrollment in December of 2014.
07:30 EDTINCYIncyte price target raised to $89 from $75 at Oppenheimer
Oppenheimer increased its price target on Incyte after the company reported that sales of its flagship Jakafi drug had jumped 46% year-over-year in Q4. The firm continues to be upbeat on Jakafi's revenue outlook and the company's pipeline. It keeps an Outperform rating on the shares.
07:16 EDTGILDMylan signs exclusive agreement with Gilead to distribute Solvaldi, Harvoni
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07:06 EDTINCYEli Lilly and Incyte announces positive results for baricitinib
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February 22, 2015
18:04 EDTNPSPShire completes acquisition of NPS Pharma
Shire (SHPG) announces the successful completion of the tender offer for all of the outstanding shares of NPS Pharmaceuticals (NPSP) and the subsequent acquisition of NPS Pharma.The tender offer expired at 12:00 midnight, New York City time, at the end of Friday, February 20, and was not extended. As of the expiration of the tender offer, a total of approximately 88,869,118 common shares of NPS Pharma had been validly tendered and not withdrawn pursuant to the tender offer, representing approximately 81.7% of the outstanding common shares of NPS Pharma. All shares that were validly tendered and not withdrawn pursuant to the tender offer were accepted for payment. After the acceptance of shares that were validly tendered and not withdrawn pursuant to the tender offer, Shire completed the acquisition of NPS Pharma today through a merger of one of Shire's subsidiaries with and into NPS Pharma. In connection with the merger, all common shares of NPS Pharma that were not accepted for payment in the tender offer (excluding any shares held by NPS Pharma as treasury stock (other than any shares held in an NPS Pharma benefit plan) and any shares with respect to which the holders have properly demanded appraisal rights in accordance with Delaware law) were converted into the right to receive $46.00 per share in cash, without interest and less any applicable withholding taxes, the same price that will be paid for shares accepted for payment in the tender offer. Following completion of the merger, NPS Pharma became a wholly owned subsidiary of Shire and NPS Pharma's shares ceased to be traded on NASDAQ.
February 19, 2015
09:35 EDTGILDOption volume leaders
Option volume leaders: AAPL TSLA TWTR MCD WMT PBR SPWR WFM GILD FB SCTY according to Track Data.
07:12 EDTNPSPWharton Health Care Club to hold a conference
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February 18, 2015
09:37 EDTGILDOption volume leaders on open
Option volume leaders: AAPL TSLA TWTR CELG APO NFLX AXP APA LNKD C GILD according to Track Data.
08:13 EDTINCYIncyte shares poised to rise further, says Argus
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February 17, 2015
17:13 EDTGILDPoint72 gives quarterly update on stakes
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16:00 EDTGILDOptions Update; February 17, 2015
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13:18 EDTGILDOmega Advisors gives quarterly update on stakes
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09:40 EDTGILDActive equity options trading on open
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08:01 EDTINCYIncyte price target raised to $90 from $80 at Leerink
Leerink raised its price target for Incyte shares to $90 citing the company's growing oncology pipeline following its Q4 results. The firm keeps an Outperform rating on the name.
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