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Stock Market & Financial Investment News

News Breaks
March 5, 2014
10:33 EDTOSUR, ABBV, MRK, GILDOraSure climbs after CMS proposes coverage of HCV tests
Shares of OraSure (OSUR), whose hepatitis C virus test has been approved by the FDA, are climbing after the Centers for Medicare & Medicaid Services yesterday proposed a rule that would enable Medicare and Medicaid to cover HCV tests in some circumstances. Orasure's OraQuick HCV test detects HCV antibodies in fingerstick and venipuncture whole blood. WHAT'S NEW: CMS proposed a rule under which the government would cover HCV tests that have been approved by the FDA. In order to be covered, the test must be ordered by beneficiaries' doctors, and performed by an eligible Medicare provider, CMS stated. Additionally, under the proposal the government would only cover tests for adult beneficiaries who are at high risk for HCV infection, and for those people born between 1945 and 1965. Individuals who have used illegal drugs or received blood transfusions before 1992 would be considered at risk individuals for the purposes of the rule, the agency stated. ANALYST REACTION: In a note to investors earlier today, Mizuho Securities analyst Peter Lawson wrote that the CMS' decision is positive for OraSure. The company has the largest exposure to HCV testing among publicly traded companies, the analyst indicated. The company could obtain over $1B of revenue by providing HCV tests for beneficiaries born between 1945 and 1965, the analyst estimated. Moreover, HCV drug developers will also use OraSure's test in the wake of CMS' decision, added Lawson, who reiterated a $9 price target and Outperform rating on the stock. PRICE ACTION: In early trading, OraSure climbed 11cv, or 1.5%, to $7.50. OTHERS TO WATCH: Companies developing HCV treatments include AbbVie (ABBV), Merck (MRK) and Gilead (GILD).
News For OSUR;ABBV;MRK;GILD From The Last 14 Days
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July 24, 2014
05:56 EDTGILDStocks with implied volatility movement; YHOO GILD
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05:37 EDTGILDGilead announces new agreement with MPP
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July 23, 2014
16:13 EDTGILDGilead raises FY14 net product sales guidance to $21B-$23B from $11.3B-$11.5B
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16:09 EDTGILDGilead reports Q2 product revenue $6.41B vs. $2.66B last year
Reports Q2 Royalty, contract, and other revenues $122M vs. 110.1M last year. John C. Martin, PhD, Gilead’s chairman and CEO stated, “During Q2, Gilead continued to make significant progress led by strong Sovaldi sales. Since December’s launch, Sovaldi has been prescribed for more than 80,000 patients in the U.S. and Europe, underscoring the medical community’s recognition of the benefits of this product. We look forward to making Sovaldi available in additional countries.”
16:05 EDTGILDGilead reports Q2 EPS $2.36, consensus $1.79
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16:01 EDTGILDGilead trading halted, pending news
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16:00 EDTGILDOptions Update; July 23, 2014
iPath S&P 500 VIX Short-Term Futures up 23c to 28.17. Option volume leaders: AAPL FB C GILD MSFT PBR NFLX AMZN TWTR TSLA according to Track Data
15:43 EDTGILDGilead July weekly 90 straddle priced for 5.5% move into Q2
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15:30 EDTGILDNotable companies reporting after market close
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11:40 EDTGILDFDA approves Zydelig for three types of blood cancers
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July 22, 2014
06:14 EDTGILDGilead July weekly volatility elevated into Q2
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July 21, 2014
16:00 EDTGILDOptions Update; July 21, 2014
iPath S&P 500 VIX Short-Term Futures up 65c to 28.53. Option volume leaders: AAPL FB NFLX DG CMCSA GILD PBR TWTR TSLA according to Track Data.
10:27 EDTABBVUBS pharma and federal affairs analysts hold an analyst/industry conference call
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09:38 EDTGILDActive equity options trading on open
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08:01 EDTABBVAbbVie acquisition positive, says Argus
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07:59 EDTABBVShire downgraded to Market Perform from Outperform at Leerink
Leerink downgraded Shire (SHPG) on Friday to Market Perform citing the takeover by AbbVie (ABBV) as it does not expect competitive bids to emerge.
07:21 EDTGILD, MRKGilead could be hurt by new HCV drugs, says Wells Fargo
Noting that data on a new Merck (MRK) HCV treatment is expected in November, Wells Fargo thinks Merck's HCV drug could be combined with Gilead's (GILD) Sovaldi to shorten the duration of treatment to four weeks. Other companies could take similar actions, and Gilead's per patient revenues would be significantly reduced if this occurs, the firm warned. However, it continues to have an upbeat outlook on Gilead heading into what it sees as a strong quarter and is still upbeat on the company's long-term HCV opportunity. It keeps an Outperform rating on Gilead.
06:43 EDTGILD, ABBV, MRKGrowing market for hepatitis-C treatment prompts legal scramble, WSJ says
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06:10 EDTABBVStocks with implied volatility movement; ABBV JOY
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July 20, 2014
12:46 EDTGILDGilead drug cocktail helps treat HIV/HCV-coinfected patients, JAMA says
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