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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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December 12, 2014
08:01 EDTINCYPiper predicts two large-cap biotechs could be acquired in 2015
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December 11, 2014
16:01 EDTGILDOptions Update; December 11, 2014
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11:55 EDTGILDGilead shares look cheap, poised for growth, Barron's says
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07:54 EDTGILDGilead shares poised to continue to advance, says RBC Capital
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December 10, 2014
15:59 EDTGILDGilead sued by SEPTA over price of Hep C drug Sovaldi, WSJ reports
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December 9, 2014
09:38 EDTGILDActive equity options trading
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08:38 EDTGILDGilead price target raised to $130 from $110 at Argus
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07:11 EDTINCYEli Lilly and Incyte announce Phase 3 RA-BEACON study met primary endpoint
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December 8, 2014
16:00 EDTGILDOptions Update; December 8, 2014
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13:07 EDTINCYNovartis announces data from Jakavi trial
Novartis (NVS) announced data from the largest clinical trial of myelofibrosis patients treated with Jakavi, supporting the safety profile and efficacy benefit as measured in primary and secondary endpoints respectively. In an analysis of 1,144 patients treated with Jakavi to date in this ongoing expanded access study, 69% of patients achieved >50% reduction in spleen size from baseline and patients also experienced a clinically meaningful improvement in myelofibrosis symptom score, important treatment goals for patients with myelofibrosis. Findings from the study were presented at the 56th Annual Meeting of the American Society of Hematology in San Francisco, California. Novartis research and development efforts, in collaboration with Incyte Corporation (INCY), include early-phase and post-marketing studies in myelofibrosis and other myeloproliferative neoplasms. More than 50 abstracts on ruxolitinib are being presented at ASH, including three oral presentations exploring combinations of ruxolitinib with various investigational compounds, evaluating the possibility of simultaneously targeting multiple cancer pathways that may be involved in the pathogenesis of myelofibrosis. The JUMP study is a Phase IIIb, expanded-access trial for countries with no access to Jakavi outside of a clinical trial. The open-label, multicenter study analyzed 1,144 enrolled myelofibrosis patients who received daily starting doses of either 5 mg, 15 mg or 20 mg of Jakavi twice daily based on platelet counts at baseline. The primary endpoint is assessment of safety and tolerability of Jakavi. Overall, the safety and efficacy profile of Jakavi was consistent with previous studies.
10:02 EDTGILDGilead presents follow-up data from Zydelig registrational studies
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December 5, 2014
16:40 EDTINCYDiplomat Pharmacy: FDA approves expanded indication of Jakafi
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09:49 EDTINCYIncyte polycythemia vera approval another upside driver, says UBS
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09:36 EDTGILDActive equity options trading
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08:44 EDTCLDXCelldex study should increase visibility, partner potential, says Roth Capital
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07:37 EDTGILDGilead price target raised to $121 from $110 at JPMorgan
JPMorgan raised its price target for Gilead shares to $121 saying the company's potential cash flow generation is "immense" and provides "significant strategic flexibility." The firm estimates Gilead can generate more than $30B in cash in the next two years and $80B-plus over the next five years. It keeps an Overweight rating on the stock.
07:16 EDTINCYFDA PDUFA Date for Incyte's Jakafi (Ruxolitinib) is December 5, 2014
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December 4, 2014
16:09 EDTCLDXCelldex initiates Phase 2 study of Glembatumumab Vedotin
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10:49 EDTINCYFDA approves Jakafi to treat polycythemia vera
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09:01 EDTGILDVA negotiated $594 per dose price for Gilead HCV treatment
A Veterans Health Administration official told a Senate committee yesterday that Veterans' Affairs has "moved rapidly to deploy new, more effective, less toxic HCV treatments and has been able to negotiate significant discounts for these newer therapies." The agency negotiated a price of $594 per dose for Gilead's (GILD) Hepatitis C virus drug Sofosbuvir, below the commercial price of $1,000 per dose, VHA Chief Consultant for Pharmacy Benefits Management Michael Valentino told the Senate's Committee on Veterans' Affairs. The agency also received a $413 per dose price for Johnson & Johnson's (JNJ) Simeprevir, below the commerical price of $790. The VA has approximately 174,000 veterans in care with HCV, making it the largest single HCV provider in the U.S., Valentino pointed out. He added, "Like the rest of the country, VA has treated only a portion of Veterans for HCV because treatment and cures have been difficult to achieve due to low efficacy and high toxicity of standard drug therapies." Reference Link
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