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Stock Market & Financial Investment News

News Breaks
January 13, 2014
10:25 EDTBSX, BSX, LLY, LLY, LH, LH, GEVA, GEVA, ACT, ACT, Q, Q, BIO, BIO, HSIC, HSIC, ALOG, ALOG, SIAL, SIAL, WMGI, WMGI, AGIO, AGIO, OPHT, OPHTJPMorgan to host a conference
32nd Annual Healthcare Conference is being held in San Francisco on January 13-16 with webcasted company presentations to begin on January 13 at 10:30 am; not all presentations may be webcasted. Webcast Link
News For OPHT;AGIO;WMGI;SIAL;ALOG;HSIC;BIO;Q;ACT;GEVA;LH;LLY;BSX From The Last 14 Days
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September 3, 2015
09:12 EDTLHNeoGenomics overhang should dissipate, says Roth Capital
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08:46 EDTLHLabCorp expands partnership with PTQ
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08:15 EDTOPHTChimerix rallies, Keryx falls after Citi expands Biotech coverage
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06:39 EDTOPHTOphthotech initiated with a Buy at Citi
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September 2, 2015
13:21 EDTBSXHeartWare plunges after Valtech deal sparks downgrades
Shares of HeartWare (HTWR) have plunged after the company's acquisition of cardiac device maker Valtech, with multiple analysts struggling to find any particularly strong rationale for the deal. WHAT'S NEW: Raymond James' Jayson Bedford downgraded HeartWare to Market Perform from Outperform after the company announced Tuesday night that it agreed to acquire Valtech Cardio, an Israeli-based company focusing on heart valve devices. Bedford said he was "surprised" by the size of the deal, noting that the all-stock transaction is valued at roughly $430M and will see Valtech owning roughly 22% of HeartWare upon closing. The acquisition is simply not what Bedford "envisioned" for the company, said the analyst. His prior investment thesis was based upon HeartWare's potential to dominate the ventricular assist device market, an idea "validated" by St. Jude's (STJ) pending acquisition of Thoratec (THOR), said Bedford. That thesis has now been disrupted by last night's early-stage asset buy at a "steep price," raising the overall execution risk of HeartWare, the analyst tells investors. WHAT'S NOTABLE: HeartWare was also hit with a downgrade to Neutral by BTIG, with the research firm emphasizing that the transaction will bring significant dilution to the company's existing shareholders. Northland's Suraj Kalia was even more bearish this morning, saying that the acquisition "does not make sense," coming at an "astronomical" multiple for an asset with "no obvious complementarity" and different domain expertise. Valtech's Cardioband CE study involved just 45 patients and only 40% of those were followed up at twelve months, said Kalia, who contended that the study does not present an accurate picture of clinical viability. Heartware will have to invest "significantly" to get Valtech's technology through U.S. trials, said the analyst, and entering the transcatheter mitral valve repair market will also bring new competition in the form of Edwards (EW), Medtronic (MDT), Boston Scientific (BSX), St. Jude and Abbott (ABT). PRICE ACTION: Shares of HeartWare have dropped more than 19% in intraday trading to $65.98, dipping below their 52-week low in the process.
07:54 EDTWMGIWright Medical approval one of two main catalysts, says Leerink
Leerink analyst Richard Newitter views the FDA approval of Augment as one of two main upcoming catalysts for Wright Medical (WMGI). The second is the Tornier (TRNX) deal closing, which the analyst thinks could also occur this quarter. Newitter says an overhang has been removed with the approval and reiterates an Outperform rating on Wright with a $31 price target.
06:07 EDTWMGIPiper sees little upside to Wright Medical target despite FDA approval
Piper Jaffray analyst Matt O'Brien calls news of Wright Medical's regulatory clearance for Augment surprising and "clearly a positive." Most had expected approval to be delayed until the end of 2015, the analyst tells investors in a research note. Nonetheless, O'Brien sees little upside to his price target of $27 and keeps a Neutral rating on Wright. He expects the stock to rally about 10% today on last night's news.
September 1, 2015
18:41 EDTWMGIOn The Fly: After Hours Movers
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16:20 EDTHSICHenry Schein completes majority investment in Jorgen Kruuse A/S
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16:17 EDTBSXNevro submits preliminary response to PTAB in patent case with Boston Scientific
Nevro (NVRO) announced that the company has submitted its preliminary response to the Patent Trial and Appeals Board, or PTAB, in response to two petitions for inter partes review, or IPR, filed by a unit of Boston Scientific (BSX), challenging the validity of certain claims in U.S. Patent No. 8,359,102, one of Nevro's 55 issued U.S. patents directed to Nevro's innovations in the neuromodulation field. The preliminary response is limited in scope by the rules governing the IPR process. The response is limited to setting forth the reasons why an IPR should not be instituted and cannot argue the merits or include any new testimonial evidence. By the rules governing the IPR process, the next step will be a decision by the PTAB to either institute or deny review of the petition. That determination is expected by December 1, Nevro said.
16:02 EDTWMGIWright Medical subsidiary receives FDA approval for its PMA for AUGMENT
Wright Medical Group announced that its BioMimetic subsidiary has received an approval order from the FDA for its Premarket Approval Application, or PMA, for AUGMENT Bone Graft. The approval order indicates that FDA determined that AUGMENT Bone Graft is safe and effective as an alternative to autograft for ankle and/or hindfoot fusion indications. Wright can now initiate commercial sale and distribution of AUGMENT Bone Graft in the U.S. The Company continues to anticipate AUGMENT revenue in the U.S. to be in the range of $10M-$12M in the first seven to eight months post-approval.
August 27, 2015
10:32 EDTLLYFDA approvals Synjardy tablets for adults with Type 2 diabetes
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10:00 EDTBSXOn The Fly: Analyst Upgrade Summary
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07:09 EDTSIALSigma-Aldrich signs manufacturing agreement with Public Health England
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06:12 EDTBSXBoston Scientific upgraded to Buy on valuation at Goldman
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05:20 EDTLLYEli Lilly, Adocia initiate new Phase 1b study of BioChaperone Lispro
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August 25, 2015
17:11 EDTLLYU.S. District Court rules in Eli Lilly's favor on Alimta vitamin regimen patent
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August 24, 2015
16:32 EDTBSXBoston Scientific announces CE Mark for MRI labeling for ICD, CRT-D systems
Boston Scientific has received CE Mark on magnetic resonance imaging conditional labeling for the current family of EL and MINI implantable cardioverter defibrillator and the X4 cardiac resynchronization therapy defibrillator systems. This revised labeling ensures that future patients and those already implanted with these systems are able to undergo MRI scans if indicated.
16:17 EDTLHLabCorp: Covance announces agreement with leading pharmaceutical company
Laboratory Corporation of America Holdings announced that Covance Drug Development has received a multi-year award from a leading pharmaceutical company to use Covance's Xcellerate platform as an exclusive central monitoring solution for their worldwide clinical trials portfolio. This landmark agreement with a top-tier pharmaceutical company for Covance's first-in-kind Software-as-a-Service offering reflects the company's unique technology capabilities, and reinforces its position as an industry innovator and leader in clinical informatics solutions.
08:45 EDTLHLabCorp announces availability of VistaSeq Hereditary Cancer Panel
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