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Stock Market & Financial Investment News

News Breaks
December 4, 2012
06:45 EDTBMY, SNY, PFE, MRK, JNJ, AZN, GSK, LLY, RHHBYCourt finds U.S. cannot prosecute off-label sales of drugs, Bloomberg reports
The U.S. Court of Appeals in New York found that pharmaceutical companies and their sales staff can’t be prosecuted for promoting drugs for “lawful,” unapproved uses, reversing a conviction of a salesman for Orphan Medical Inc., reports Bloomberg. Reference Link
News For RHHBY;AZN;PFE;LLY;JNJ;SNY;GSK;MRK;BMY From The Last 14 Days
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June 18, 2015
13:08 EDTGSKGlaxoSmithKline management to meet with Piper Jaffray
Meeting to be held in Minneapolis on June 23 hosted by Piper Jaffray.
09:35 EDTPFEActive equity options trading on open
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07:36 EDTAZNReceptos remains an attractive takeover candidate, says Leerink
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June 17, 2015
17:00 EDTMRKOncoSec CEO expects 'to be in a better position to attract a strategic partner'
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12:02 EDTLLYEli Lilly reports LY2951742 meets primary endpoint in Phase 2b migraine study
Eli Lilly announced that its investigational medicine for prevention of migraine -- LY2951742, a CGRP neutralizing antibody -- met the primary endpoint in a Phase 2b study in episodic migraine. The randomized, double-blind, placebo-controlled study evaluated the efficacy and safety of four different doses of LY2951742 given in a once-monthly, subcutaneous injection in more than 400 patients with episodic migraine. The primary objective was to assess whether at least one dose of LY2951742 was superior to placebo in the prevention of migraine headache. LY2951742 demonstrated a statistically significant reduction in migraine headache days and a safety and tolerability profile confirming the previous results seen in a Phase 2a study. In addition to the migraine program, Lilly has initiated two Phase 3 trials with LY2951742 in patients suffering from cluster headache. Based on the unmet medical need and significance of this disorder for patients, Lilly has been granted fast track designation from the U.S. FDA for cluster headache.
10:00 EDTMRK, PFE, BMY, LLYOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AbbVie (ABBV) initiated with an Overweight at Piper Jaffray... Arista Networks (ANET) initiated with a Buy at Sterne Agee CRT... Astec (ASTE) initiated with a Buy at Maxim... Bristol-Myers (BMY) initiated with an Underweight at Piper Jaffray... Community Healthcare (CHCT) initiated with an Outperform at Oppenheimer... Eli Lilly (LLY) initiated with an Overweight at Piper Jaffray... Fitbit (FIT) initiated with a Buy ahead of IPO at Dougherty... Hortonworks (HDP) initiated with a Buy at Mizuho... II-VI (IIVI) initiated with a Buy at Benchmark Co.... J Sainsbury (JSAIY) initiated with an Underperform at Credit Suisse... McDermott (MDR) initiated with an Outperform at Cowen... Merck (MRK) initiated with a Neutral at Piper Jaffray... Molina Healthcare (MOH) initiated with a Buy at UBS... Pacific DataVision (PDVW) initiated with a Buy at Canaccord... Pfizer (PFE) initiated with an Overweight at Piper Jaffray... Quest Resource (QRHC) initiated with a Buy at Roth Capital... Regional Management (RM) initiated with a Buy at Janney Capital... Rofin-Sinar (RSTI) initiated with a Buy at Benchmark Co.... Salesforce (CRM) initiated with a Neutral at Exane BNP Paribas... Sprouts Farmers Markets (SFM) initiated with a Neutral at Cleveland Research... Tesco (TSCDY) initiated with an Underperform at Credit Suisse... WM Morrison (MRWSY) initiated with a Neutral at Credit Suisse... WWE (WWE) initiated with a Buy at BTIG... World Acceptance (WRLD) initiated with a Buy at Janney Capital... Zafgen (ZFGN) initiated with a Buy at SunTrust.
08:10 EDTLLYEli Lilly and Dana-Farber Cancer Institute enter research collaboration
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08:03 EDTMRKMerck Keytruda granted FDA orphan designation as gastric cancer treatment
The FDA granted Merck, Sharp & Dohme, a subsidiary of Merck, orphan status for Keytruda as a treatment of gastric cancer, including gastroesophageal junction adenocarcinoma. Reference Link
08:02 EDTLLYEli Lilly partnering with Sarah Cannon Research Institute for oncology therapy
Eli Lilly and Sarah Cannon Research Institute announced a strategic partnership to co‑develop an investigational oncology compound, LY3023414, a PI3K/mTOR dual inhibitor. Under the agreement, SCRI will collaborate with Lilly to provide clinical development expertise and program design, as well as medical oversight and trial management. Patient enrollment for the initial Phase II clinical trial is underway.
07:25 EDTBMY, LLY, PFEPiper calls Bristol 'modestly overvalued,' starts shares with sell
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07:21 EDTJNJGeneric ADHD drugs still sold despite FDA non-equivalance finding, NYT reports
The FDA announced last November that two generic versions of Johnson & Johnson's (JNJ) Concerta ADHD drug, one made by Mallinckrodt (MNK) and the other by UCB, could no longer be considered the equivalent of the branded drug after tests and analyses suggested that their effectiveness began to wear off much more quickly, but the drugs are still being sold despite an FDA mandated deadline having passed for the companies to either prove the drugs were equivalent or remove them from the market, said The New York Times. The report noted a third generic product, sold by Actavis (AGN), was found to be equivalent to the branded Concerta. Reference Link
07:14 EDTRHHBYProthena announces PRX002 was safe, well tolerated
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05:31 EDTPFEPfizer initiated with an Overweight at Piper Jaffray
Target $45.
05:31 EDTLLYEli Lilly initiated with an Overweight at Piper Jaffray
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05:31 EDTBMYBristol-Myers initiated with an Underweight at Piper Jaffray
Target $60.
05:31 EDTMRKMerck initiated with a Neutral at Piper Jaffray
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June 16, 2015
14:23 EDTAZNReceptos price target raised to $348 at Wedbush on M&A potential
Wedbush analysts Liana Moussatos and Kelechi Chikere said they'd interpreted Receptos (RCPT) comments with its earnings report in May about its ability to commercialize ozanimod on its own as a message to potential buyers that their bids were too low. Following a recent report from Proactive Investors, which claimed that Receptos had turned down bids of $200 per share from AstraZeneca (AZN) and $280 per share from Teva (TEVA) and Gilead (GILD), the analysts said they have reconsidered their valuation assumptions, as they believe these bid values could be accurate. Wedbush raised its fair value estimate on Receptos to $348 from $211, citing a belief in increased industry interest in ozanimod and the rest of Receptos’ pipeline, and maintains an Outperform rating on the stock.
13:16 EDTGSKFDA appoves labeling changes for GSK anti-seizure drug
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10:07 EDTMRKAlkermes spike attributed to takeover speculation
The spike higher in shares of Alkermes (ALKS) is being attributed by traders to speculation of a takeover. Shares jumped 6% to $61.89 in morning trading. The Ireland based drugmaker focuses on treatments of central nervous system disorders, such as addiction, schizophrenia and depression. The speculative chatter has Merck (MRK) as a potential acquirer of Alkermes. The company’s June 60 and 65 calls are actively trading, according to The Fly's options specialist.
08:36 EDTLLYEli Lilly price target raised to $100 from $87 at Jefferies
Jefferies raised its price target for Eli Lilly shares to $100 saying that while the market is "overly-obsessed" on the EXPEDITION-EXT abstract for Alzheimer's, the potential for cholesterol treatment evacetrapib should begin to be realized over the next 12 months. Jefferies keeps a Buy rating on Lilly.
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