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Stock Market & Financial Investment News

News For NVO;VPHM;INFI;MRK;AGN;SHPG;SGEN;OREX;AMGN;SNY;JNJ;PFE From The Last 14 Days
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November 19, 2014
07:08 EDTSHPGSangamo says study demonstrates in vivo reversal of Huntington's disease signs
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06:30 EDTJNJJohnson & Johnson, Boston Scientific trial set to start tomorrow, Reuters says
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05:51 EDTAGNStocks with implied volatility movement; AGN POT
Stocks with implied volatility movement; Allergan (AGN) 21, Potash (POT) 22 according to iVolatility.
November 18, 2014
17:15 EDTAGNPershing Square to discontinue proxy solicitation in connection with Allergan
Bill Ackman, CEO of Pershing Square, sent the following letter to the SEC. "Pershing Square Capital Management, L.P., a Delaware limited partnership, hereby respectfully requests the immediate withdrawal of the Definitive Proxy Statement on Schedule 14A, originally filed by Pershing Square with the United States Securities and Exchange Commission on September 24, 2014 (File No. 001-10269), along with any amendments and exhibits thereto. In light of the fact that Pershing Square has decided to discontinue its proxy solicitation in connection with the special meeting of Allergan, Inc. shareholders, it no longer believes it is desirable to pursue the matters referred to in the Proxy Statement. Definitive proxy materials with respect to the Special Meeting were filed by Pershing Square with the Commission on September 24, 2014 and November 14, 2014. If you have any questions or comments regarding the foregoing request for withdrawal, please feel free to contact Pershing Square’s counsel, Richard Brand of Kirkland & Ellis LLP at (212) 446-6454."
16:26 EDTAGNOn The Fly: Closing Wrap
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16:02 EDTAMGNAmgen presents long-term data on safety, efficacy of evolocumab
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15:48 EDTSNYGenzyme, Isis present KYNAMRO data at AHA meeting
Genzyme, a Sanofi (SNY) company, and Isis Pharmaceuticals (ISIS) announced that new two-year data from a phase 3 long-term extension study of KYNAMRO injection was presented at a scientific session at the annual American Heart Association meeting. In the study, a retrospective analysis showed that patients treated with KYNAMRO for a mean of two years had a significant reduction in Major Adverse Cardiovascular Events compared to two years prior to therapy. The rate of MACE in patients treated with KYNAMRO for two years were adjudicated by an independent committee and compared to the rate of MACE in the same patients based on their medical history prior to treatment with KYNAMRO. In this analysis, MACE were identified in 62% of patients during two years prior to KYNAMRO treatment, and 9% of patients during a mean of 24.4 months after initiation of treatment with KYNAMRO.
13:34 EDTAGNActavis rallies after analysts push targets north of $300
Shares of drug maker Actavis (ACT) are climbing after a number of analysts cheered the company's acquisition of Allergan (AGN), and activist investor Bill Ackman said he supported the transaction, according to CNBC. WHAT'S NEW: Piper Jaffray analyst David Amsellem responded to Actavis' acquisition of Allergan by hiking his price target on the name to $338 from $280. The combined company has durable assets, a cost-efficient infrastructure, and the willingness to maintain a strong R&D infrastructure, contended Amsellem. Actavis' price-to-earnings ratio is likely to increase, since it has durable assets, while it his very likely to sustain growth of at least 10%, the analyst added. He kept an Overweight rating on the shares. Also extremely upbeat on Actavis following the deal was UBS analyst Marc Goodman. Actavis provides "the best value in the sector" following the deal, as the transaction should accelerate the company's revenue and profit growth, Goodman believes. That growth, in turn, should propel Actavis' price-to-earnings multiple higher, the analyst predicted. He hiked his price target on Actavis to $333 from $278 and kept a Buy rating on the stock. Meanwhile, Pershing Square's Bill Ackman said that he supported Actavis' takeover of Allergan, CNBC reported this morning. The owner of a large stake in Allergan, Ackman had been trying to get the drug maker to sell itself to Valeant (VRX). The activist investor said today that he would no longer push Allergan to hold a special meeting on December 18, CNBC noted. PRICE ACTION: In mid-afternoon trading, Actavis surged 7.5% to $266.50, while Allergan gained 2% to $214.
12:16 EDTSNYSanofi to host seminar on New Medicines
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10:26 EDTAGNAckman to withdraw Allergan special meeting request, CNBC reports
Bill Ackman said he will withdraw his request for an Allergan (AGN) special meeting and that he supports the company's planned transaction with Actavis (ACT), according to CNBC's Scott Wapner. Reference Link
09:56 EDTAGNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Allergan (AGN) downgraded to Market Perform from Outperform at William Blair... Wells Fargo (WFC) downgraded to Market Perform from Outperform at BMO Capital... Allergan downgraded to Neutral from Buy at Guggenheim... Allergan downgraded to Neutral from Buy at SunTrust... Basic Energy (BAS) downgraded to Neutral from Buy at SunTrust... CBS (CBS) downgraded to Neutral from Overweight at Atlantic Equities... Key Energy (KEG) downgraded to Neutral from Buy at SunTrust... Macy's (M) downgraded to Neutral from Buy at BofA/Merrill... Statoil (STO) downgraded to Neutral from Overweight at JPMorgan... Urban Outfitters (URBN) downgraded to Market Perform from Outperform at Telsey Advisory... Urban Outfitters downgraded to Market Perform from Outperform at William Blair... Urban Outfitters downgraded to Neutral from Overweight at Atlantic Equities... Baker Hughes (BHI) downgraded to Hold from Buy at Argus.... Precision Drilling (PDS) downgraded to Market Perform at Raymond James.
09:23 EDTAMGNAmgen to host conference call
Management discusses Amgen's cardiovascular program, as well as the evolocumab data presented at the American Heart Association (AHA) Scientific Sessions 2014, on a conference call to be held on November 18 at 7 pm. Webcast Link
08:59 EDTAGNActavis deal positive, says Sterne Agee
Sterne Agee believes that the friendly nature of Actavis' (ACT) takeover of Allergan (AGN) will enable the combined companies to achieve greater revenue growth. The firm thinks the deal will enable the companies to integrate seamlessly, and it thinks that CEO Brent Saunders' experience at Forest and Bausch & Lomb will help him manage Allergan's leading ophthalmology franchises. Sterne keeps a Buy rating on Actavis.
08:33 EDTPFEPfizer announces availability of Trumenba vaccine
Pfizer announced hat TRUMENBA, the first and only FDA-approved vaccine for active immunization to prevent invasive disease caused by Neisseria meningitidis serogroup B in individuals 10 through 25 years of age, is now available for order by healthcare providers in the United States.
07:52 EDTAGNAllergan downgraded to Market Perform from Outperform at Wells Fargo
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07:48 EDTAGNValeant not likely to raise bid for Allergan, says Canaccord
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07:41 EDTAGNActavis provides best value in pharmaceutical sector, says UBS
UBS believes Actavis (ACT) provides the best value in the pharmaceutical sector following its deal to acquire Allergan (AGN). The firm pointed to the double digit accretion to earnings, synergies, and very attractive current valuation. UBS reiterated its Buy rating on Acatvis and raised its price target to $333 from $278.
07:29 EDTPFEPfizer less likely to pursue AstraZeneca after PD-L1 deal, says JPMorgan
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07:18 EDTPFEWoodford confident in Astra, sees 50% chance of new Pfizer bid, Reuters reports
Investment manager Neil Woodford of Woodford Investment Management said he now has an even stronger belief in AstraZeneca (AZN), citing the company's strong product pipeline, and put the chances of a new takeover bid from Pfizer (PFE) at 50/50, reported Reuters, citing a statement from Woodford. Reference Link
07:03 EDTAMGNAmgen management to meet with UBS
Meeting to be held in Zurich on November 18 hosted by UBS.
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