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Stock Market & Financial Investment News

News Breaks
July 8, 2014
07:34 EDTINCY, NVSIncyte achieves $25M milestone for approval of Jakavi in Japan
Incyte Corporation (INCY) has earned a $25M milestone payment from Novartis (NVS) in connection with the approval of Jakavi in Japan for the treatment of patients with myelofibrosis. Incyte will record this amount as contract revenue in the third quarter. Under the Incyte-Novartis Collaboration and License Agreement, Novartis received exclusive development and commercialization rights to ruxolitinib outside of the United States for all hematologic and oncologic indications and sells ruxolitinib under the name Jakavi. Ruxolitinib is marketed by Incyte in the United States as Jakafi. Novartis also continues to make progress in obtaining formal pricing and reimbursement approval for a third major European country and expects this to occur in the second half of 2014. Once achieved, Incyte will earn an additional $60M milestone payment.
News For INCY;NVS From The Last 14 Days
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February 4, 2016
07:23 EDTNVSGSK will not be pressured into early consumer unit spinoff, Reuters says
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February 2, 2016
11:14 EDTNVSNovartis management to meet with Jefferies
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07:42 EDTNVSPressure mounts on big pharma names to shrink, sharpen focus, FT says
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January 29, 2016
07:53 EDTNVSNovartis management to meet with JPMorgan
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07:37 EDTNVSRadius Health should be bought aggressively at current prices, says Canaccord
Canaccord said they would be aggressive buyers of Radius Health (RDUS) especially at current share prices. The firm cited its partnership with Novartis (NVS), its drug pipeline, and expectations for an FDA filing of abaloparatide in the first quarter of 2016. Canaccord reiterated its Buy rating and $85 price target on Radius Health shares.
January 28, 2016
12:09 EDTNVSRadius Health to hold a conference call
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11:33 EDTINCYOptions with increasing call volume
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09:38 EDTNVSNovartis downgraded to Neutral from Outperform at Exane BNP Paribas
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08:14 EDTINCYIncyte selloff brings long-term buying opportunity, says Jefferies
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08:08 EDTINCYIncyte selloff a buying opportunity, says Leerink
Leerink analyst Michael Schmidt recommends using today's pullback in shares of Incyte after the company announced its decision to stop one arm of its ongoing Phase II trial of ruxolitinib in metastatic colorectal cancer due to futility as a buying opportunity. The study is one of several ongoing trials to evaluate ruxolitinib in various solid tumor indications, the analyst points out. He says that while the news is disappointing, the stock's current valuation reflects very little if any value for ruxolitinib in solid tumor indications. Schmidt lowered his price target for Incyte shares to $118 from $135 and reiterates an Outperform rating on the name. The stock is down 13%, or $9.98, to $65.01 in pre-market trading.
07:43 EDTINCYIncyte weakness creates buying opportunity, says Oppenheimer
After Incyte announced that it would stop a Phase-2 study of Ruxolitinib plus regorafenib for R/R metastatic colorectal cancer and high-CRP patients due to insufficient efficacy, Oppenheimer says the data makes the drug's anti-inflammatory properties in solid tumors questionable. However, the firm did not previously include revenue from the drug outside of pancreatic cancer in its estimates. The firm keeps a $129 price target and Outperform rating on the shares.
January 27, 2016
19:30 EDTINCYOn The Fly: After Hours Movers
UP AFTER EARNINGS: Facebook (FB), up 11.4%... Mellanox (MLNX), up 6.4%... Paypal (PYPL), up 5%... Crown Castle (CCI), up 2.2%... Citrix (CTXS), up 2.4%... Las Vegas Sands (LVS), up 1%... SanDisk (SNDK), up 1%. ALSO HIGHER: Radius Health (RDUS), up 1.2% after announcing a clinical collaboration with Novartis (NVS)... LinkedIn (LNKD) is up 2.4%, Alphabet (GOOG, GOOGL) is up 2.2% and 2.6%, respectively, Netflix (NFLX) is up 1%, Amazon.com (AMZN) is up 2%, and Twitter (TWTR) is up marginally after Facebook reported quarterly results... MGM Resorts (MGM) is up 2.2% and Wynn Resorts (WYNN) is up 2.2%. DOWN AFTER EARNINGS: ServiceNow (NOW), down 16.5%... eBay (EBAY), down 12.8%... United Rentals (URI), down 9.7%... Juniper Networks (JNPR), down 9.6%... Silicon Graphics (SGI), down 9.1%... Discover Financial (DFS), down 7.4%... InvenSense (INVN), down 6.1%... Core Laboratories (CLB), down 4.3%... Vertex Pharmaceuticals (VRTX), down 1.1%. ALSO LOWER: Incyte (INCY), down 12.8% after announcing that it will halt the Phase 2 sub-study of ruxolitinib or placebo in combination with regorafenib after a planned interim analysis of the high CRP subgroup demonstrated that ruxolitinib plus regorafenib did not show a sufficient level of efficacy to warrant continuation.
16:45 EDTINCYIncyte to stop Phase 2 sub-study of ruxolitinib plus regorafenib
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16:33 EDTNVSRadius Health announces clinical collaboration with Novartis
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12:19 EDTNVSPiper Jaffray biopharma analyst holds an analyst/industry conference call
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05:22 EDTNVSNovartis sees FY16 revenue, core operating income in line with FY15
Group net sales and core operating income in 2016 are expected to be broadly in line with the prior year, after absorbing the impact of generic competition. Generic competition impact on sales is expected to be as much as $3.2B compared to $2.2B in 2015.
05:20 EDTNVSNovartis reports Q4 core EPS $1.14, consensus $1.18
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January 26, 2016
14:32 EDTNVSNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Novartis (NVS), consensus $1.18... Boeing (BA), consensus $1.26... United Technologies (UTX), consensus $1.52... Biogen (BIIB), consensus $4.08... EMC (EMC), consensus 65c... General Dynamics (GD), consensus $2.38... Anthem (ANTM), consensus $1.22... Illinois Tool Works (ITW), consensus $1.21... State Street (STT), consensus $1.18... Norfolk Southern (NSC), consensus $1.24... Progressive (PGR), consensus 47c... St. Jude Medical (STJ), consensus $1.01... Rockwell Automation (ROK), consensus $1.33... Textron (TXT), consensus 83c... Hess (HES), consensus ($1.47)... Cliffs Natural (CLF), consensus (26c).
11:34 EDTNVSJuno, Kite valuations at risk following study, TheStreet's Feuerstein says
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January 25, 2016
10:55 EDTNVSRegeneron slips after analyst says sell to avoid risk from Amgen patent suit
Shares of Regeneron Pharmaceuticals (REGN) fell in morning trading after an analyst at Chardan downgraded the stock to Sell, citing risk from a patent lawsuit in which the biopharmaceutical company is involved. CHARDAN SAYS SELL: Chardan Capital Markets analyst Gbola Amusa downgraded Regeneron to Sell from Neutral this morning, while reducing his price target on shares to $400 from $525. In a note to clients, Amusa said he believes that Regeneron is likely to face significant risks from the upcoming patent infringement case for Praluent. The suit could be a key driver of the company's share price performance in the near future, the analyst said. Regeneron, along with its partner Sanofi (SNY), launched Praluent in the U.S. last year, after the October 2014 filing of a patent infringement suit by Amgen (AMGN) relating to patents for "monoclonal antibodies that bind PCSK9," Amusa noted. The analyst believes that since Regeneron and Sanofi "likely" infringe Amgen's patents for Repatha, the Regeneron-Sanofi partnership could seek to settle the ahead of the trial by agreeing to pay 10%-20% or more of royalties to Amgen for U.S. Praluent sales. Amusa said that "such an outcome we estimate could transfer roughly $750M of operating income per year to Amgen." Further, Amusa said that catalysts surrounding the patent infringement trial are "likely to play out from late February to late March," and concedes that "both sides have good reasons to settle this case for a reasonable royalty." INCREASING COMPETITION: Amusa also noted that he sees increasing competitive risks in 2016 to Regeneron's Eylea from Novartis (NVS) and its partner Ophthotech (OPHT), which continue to progress Fovista into Phase III trials in wet AMD. WHAT'S NOTABLE: Roth Capital upgraded Regeneron to Buy from Neutral on January 19, based on valuation, as the firm said shares do not reflect the value of the company's upcoming catalysts. The firm also raised its price target to $555 from $543. The same day, Credit Suisse initiated Regeneron with a Neutral rating and $552 target. PRICE TARGET: Regeneron slipped 1.4% to $476.02 in morning trading.

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