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Stock Market & Financial Investment News

News Breaks
January 21, 2014
07:34 EDTRGEN, BMRNRepligen announces asset purchase agreement with BioMarin for HDACi Portfolio
Repligen (RGEN) announced that it has entered into an asset purchase agreement with BioMarin Pharmaceutical (BMRN) to advance Repligen's histone deacetylase inhibitor, or HDACi, portfolio. The HDACi portfolio includes multiple orally bioavailable small molecule compounds as well as enabling technologies. Under the terms of the agreement, Repligen will receive an upfront payment of $2M from BioMarin and it has the potential to receive up to $160M in future milestone payments for the development, regulatory approval and commercial sale of portfolio compounds included in the agreement. In addition, Repligen is eligible to receive royalties on sales of therapeutic products originating from the HDACi portfolio. Potential applications of the HDACi portfolio include Friedreich's ataxia and other neurological disorders.
News For RGEN;BMRN From The Last 14 Days
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March 27, 2015
10:31 EDTBMRNOptions with increasing implied volatility
Options with increasing implied volatility: ZU ARWR HLSS CREE BMRN SWKS IOC CMG INFN HOT
10:29 EDTBMRNBioMarin rises amid takeover speculation, price target raises
The shares of BioMarin (BMRN) are climbing after a blog reported last night that Shire (SHPG) is considering offering to acquire the company. Meanwhile, analysts at UBS and Deutsche raised their price targets for the orphan drug maker, in part due to the possibility of a takeover. WHAT'S NEW: "Well-informed" sources are saying that Shire recently approached BioMarin about a merger deal, Ben Harrington of the blog Betaville reported last night. It's not clear how far the talks have progressed, but Morgan Stanley and Lazard are advising Shire on a deal that could be worth $65B, the blog added. ANALYSTS' TAKE: The recent acquisition of Pharmacyclics (PCYC) by AbbVie (ABBV) shows that drug companies need to acquire products and pipelines, UBS analyst Andrew Peters wrote in a note to investors earlier today. Given its diversified pipeline of orphan products and multi-billion revenue potential, BioMarin is among the most attractive targets in the sector, according to Peters. As a result, the analyst finds it appropriate to assign premiums to drug companies for their strategic value. Additionally, the analyst has become more upbeat on several of BioMarin's pipeline drugs and on its R&D capabilities. He raised his price target on the stock to $136 from $112 and kept a Buy rating on the shares. Also upbeat on the stock was Deutsche Bank analyst Robyn Karnauskas. BioMarin's top four pipeline drugs have 25%-50% chances of succeeding, but not everything in the company's pipeline needs to work for it to obtain an M&A premium, the analyst stated in a note to investors today. She believes that BioMarin can be acquired for $194-$271 per share in the next year, depending on the data from several of its drug candidates. The analyst raised her price target on the name to $140 from $90 and kept a Buy rating on the stock. PRICE ACTION: In early trading, BioMarin jumped 13.5% to $130. PRICE ACTION: In early trading, BioMarin climbed 13.5% to $130.
10:01 EDTBMRNHigh option volume stocks
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09:26 EDTBMRNOn The Fly: Pre-market Movers
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08:17 EDTBMRNDeutsche Bank biotech analyst holds an analyst/industry conference call
Biotech Analyst Karnauskas provides a deep dive look into BioMarin on an Analyst/Industry conference call to be held on March 27 at 10 am.
07:38 EDTBMRNBioMarin price target raised to $140 from $90 at Deutsche Bank
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05:58 EDTBMRNBioMarin price target raised to $136 from $112 at UBS
UBS analysts Andrew Peters and Matthew Roden raised their price target for BioMarin (BMRN) shares to $136 saying investors "are still well served" to buy the stock despite the recent outperformance and talk of a bubble in the Biotech space. The analysts view BioMarin as among the most attractive takeover targets in biotech. They add the company's 2015 is filled with pipeline catalyst and keep a Buy rating on the name. The target raise at UBS comes after Ben Harrington last night, former M&A and Markets Editor at the Daily Telegraph and current editor of the blog Betaville, said that Shire (SHPG) is weighing a takeover of BioMarin. Shares of the orphan drug maker closed yesterday down 7c to $115.55 and are trading up $8.95 to $124.50 in pre-market trading.
March 26, 2015
19:30 EDTBMRNBioMarin up 4% after blog says Shire weighing takeover
BioMarin (BMRN) is trading up over 4% in the after-hours after Ben Harrington, former M&A and Markets Editor at the Daily Telegraph and current editor of the blog Betaville, said that Shire (SHPG) is weighing a takeover of BioMarin. Reference Link
10:10 EDTBMRNAnalyst calls sharp pullback in biotech stocks 'misguided'
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06:45 EDTBMRNBiotech valuation concerns 'misguided,' says Piper Jaffray
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March 23, 2015
11:15 EDTRGENRepligen management to meet with Stephens
Meetings to be held in Minneapolis on March 25 and in Chicago on March 26 hosted by Stephens.
March 17, 2015
07:18 EDTBMRNMyriad Genetics announces collaboration expansion with BioMarin
Myriad Genetics (MYGN) announced an expansion of the company's collaboration with BioMarin Pharmaceutical (BMRN). Under the expanded collaboration, BioMarin will use Myriad's myChoice HRD companion diagnostic test to prospectively identify patients with metastatic breast, ovarian and potentially other tumor types that may be sensitive to talazoparib. Financial terms were not disclosed.
March 16, 2015
10:28 EDTBMRNOptions with increasing implied volatility
Options with increasing implied volatility: PVA NFLX BMRN DNOW MYL TEVA PEP GE
March 13, 2015
11:19 EDTBMRNBioMarin rallies amid positive call on DMD drug timeline, takeover rumor
The shares of drug maker BioMarin (BMRN) are climbing after research firm Jefferies quoted a regulatory expert as saying that the company's drisapersen drug has a good chance of being approved on an accelerated basis by the FDA. Drisapersen is a treatment for Duchenne Muscular Dystrophy, or DMD. WHAT'S NEW: "There is a strong possibility" that the FDA will grant accelerated approval to drisapersen because there is currently no approved drug for the treatment of DMD, Jefferies analyst Eun Yang quoted the expert as saying. The expert is also optimistic about the outlook for accelerated approval because she had a good experience working with BioMarin while she was with the FDA and because BioMarin has a favorable track record with the FDA, according to Yang. There is a 60% chance that drisapersen will be approved by the end of this year and the stock can rise to $155, versus its current level of about $121.50, if that does occur, the analyst stated. Yang's price target on the stock increased to $135 from $125 and the analyst kept a Buy rating on the shares. WHAT'S NOTABLE: Pharmaceutical giant AstraZeneca (AZN) has been rumored to be interested in buying BioMarin for $175 per share in cash, British newspaper Daily Mail reported. , Piper Jaffray analyst Joshua Schimmer wrote in a note to investors this morning that BioMarin, along with Vertex (VRTX) and Incyte (INCY), have a "clear path" to joining the group of companies with market caps of over $10B projected to deliver greater than 20% EPS CAGR, which the analyst identified as a set of criteria that has previously pointed to companies that make good potential takeover targets. PRICE ACTION: In mid-morning trading, BioMarin climbed nearly 4% to $120.
10:09 EDTBMRNHigh option volume stocks
High option volume stocks: ULTA HOG CTIC CTL LOCO IMPV BMRN IMOS ATHX GALE
08:07 EDTBMRNAstraZeneca rumored to have BioMarin 'on shopping list,' Daily Mail says
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07:39 EDTBMRNBioMarin price target raised to $135 from $125 at Jefferies
Jefferies raised its price target for BioMarin shares to $135 after a regulatory expert it spoke to expressed optimism regarding drisapersen winning accelerated approval. Jefferies sees greater than 30% upside to current share levels should drisapersen get approved by the end of 2015. The firm views BioMarin as well positioned for "meaningful" long-term growth and keeps a Buy rating on the name.
07:04 EDTRGENRepligen sees FY15 revenue $72M-$75M, consensus $70.5M
Sees FY15 product gross margin 55%-57%. Total income from operations for FY15 is expected to be $12M-$14M, and net income is expected to be $8M-$10M, reflecting estimated taxes of approximately $4M.
07:02 EDTRGENRepligen reports Q4 EPS (1c), consensus 4c
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