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August 13, 2014
10:33 EDTRAX, MNKD, ARWR, OLED, ICPT, RPTP, VNDA, UBNT, ZUOptions with decreasing implied volatility
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November 27, 2015
10:39 EDTRPTPOptions with decreasing implied volatility
Options with decreasing implied volatility: SRPT PTCT BMRN CSC JMEI BOFI RPTP HZNP BURL
10:10 EDTOLEDHigh option volume stocks: LSCC OLED IPG
November 25, 2015
10:22 EDTRPTPOptions with decreasing implied volatility
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November 24, 2015
08:29 EDTRAX, RAXRackspace price target lowered to $23 from $27 at CLSA
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November 20, 2015
08:08 EDTMNKDMannKind CEO steps down, Alfred Mann appointed as interim CEO
MannKind announced that Hakan Edstrom has stepped down as the president, CEO and as a director of MannKind. The board of MannKind appointed Alfred Mann as interim CEO, effective November 19. Mann will continue to serve as the Executive Chairman of the company. A committee of the board will commence an immediate search for a successor CEO.
November 19, 2015
12:52 EDTRAXRackspace should benefit from Goole Cloud Platform, says Stifel
Stifel analyst Matthew S. Heinz said Google Cloud comments appear to be misunderstood and not a bad thing for Rackspace. Heinz believes it is likely Rackspace will eventually add Google Cloud Platform to its list of iaaS support partners given its existing partnership with Google around its Apps for Work platform. The analyst rates Rackspace a Buy with a $42 price target on shares.
10:11 EDTOLEDHigh option volume stocks
November 18, 2015
10:08 EDTZUGoPro sinks after analyst finds cameras on flash sales sites
The shares of action camera maker GoPro (GPRO) are sinking and hit a new 52-week low after research firm Piper Jaffray reported that the company has been offering significant discounts on its cameras. WHAT'S NEW: GoPro's cameras have been selling on flash sales websites such as Zulily (ZU) and Groupon (GRPN) at price discounts of 16%-34%, Piper analyst Erinn Murphy wrote in a note to investors today. As a result of these discounts and the 147% increase in GoPro's inventory at the end of the third quarter, the analyst is concerned that the company's gross margin could be pressured. In addition to the discounts GoPro is offering on the flash websites, the camera maker cut the price of its GoPro Session camera on Amazon to $299 from $399 in September and there has been "select downward price movement" on two more of its cameras on Amazon, Murphy reported. The analyst continues to expect GoPro's Q4 earnings per share to come in at 34c, versus analysts' consensus estimate of 41c. She slashed her fiscal 2016 EPS estimate for the company to $1.03 from $1.35, versus the consensus outlook of $1.37. Murphy reduced her price target on the stock to $15 from $20 and kept an Underweight rating on the name. WHAT'S NOTABLE: Ambarella (AMBA) makes chips used in GoPro's cameras. Best Buy (BBY), which is due to report its results tomorrow, sells GoPro's cameras. PRICE ACTION: In early trading, GoPro fell 8% to $19.19. Earlier today, it hit a new 52-week low of $19.04.
07:43 EDTVNDAJefferies to hold a conference
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07:42 EDTICPTIntercept PBC treatment revenue likely to beat expectations, says Oppenheimer
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November 16, 2015
15:53 EDTRAXJANA Partners reduces stakes in Rackspace, Qualcomm
JANA Partners gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Mattel (MAT), Zoetis (ZTS), and Aramark (ARMK). INCREASED STAKES: ConAgra Foods (CAG). DECREASED STAKES: Rackspace (RAX), Qualcomm (QCOM), Time Warner (TWX), Starz (STRZA), and Lions Gate (LGF). LIQUIDATED STAKES: Johnson Controls (JCI), Precision Castparts (PCP), AerCap Holdings (AER), United Rentals (URI), and HD Supply Holdings (HDS).
11:09 EDTARWRArrowhead says data shows ARC-520 can produce reductions of HBV antigens
Arrowhead Research Corporation presented data from a Phase 2a clinical study at The AASLD Liver Meeting 2015 demonstrating that ARC-520, its lead drug candidate against chronic hepatitis B infection, effectively reduced HBV viral antigens derived from cccDNA. HBV surface antigen was reduced substantially with a maximum reduction of 1.9 logs and a mean maximum reduction of 1.5 logs in treatment naive e-antigen-positive patients. This direct antiviral effect was still evident 57 days after a single dose. These data strongly support advancement of ARC-520, and Arrowhead has initiated multiple studies aimed at producing a functional cure of HBV. In this presentation, Dr. Yuen and co-authors show that in the Heparc-2001 clinical study, ARC-520 in combination with entecavir achieved maximum reductions of HBsAg, HBV DNA, HBeAg, and core-related antigen of 1.9 logs, 4.3 logs, 1.7 logs, and 1.2 logs, respectively. Consistent with findings from Arrowhead's chimpanzee study, also presented at AASLD, variations in viral antigen reduction indicated that patients previously treated with chronic entecavir and patients that were treatment-naive and negative for HBeAg likely had lower levels of cccDNA derived mRNA transcripts. As such, HBeAg-positive treatment naive patients experienced a greater relative reduction in HBsAg than patients that were HBeAg-negative or treatment experienced. One transitional patient in cohort 7 was HBeAg-positive at baseline and became HBeAg-negative at days 3 to 43. This patient experienced an intermediate response initially, however HBsAg continued to trend downward through day 57, the last time-point available. ARC-520 was well tolerated with no serious adverse events, no dose limiting toxicities, no discontinuations due to medication AEs, and a modest occurrence rate of AEs that were all deemed unrelated to study drug by the principal investigator. No AE occurred more than once. There were no AEs amongst 10 patients receiving placebo. There was a low occurrence rate of abnormal laboratory tests, with no observed relationship to timing or dose.
10:25 EDTRAXOptions with decreasing implied volatility
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10:00 EDTMNKDOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abengoa (ABGB) downgraded to Hold from Buy at Canaccord... Best Buy (BBY) downgraded to Sector Perform from Outperform at RBC Capital... CDTi (CDTI) downgraded to Neutral from Buy at Roth Capital... CNH Industrial (CNHI) downgraded to Underweight from Neutral at JPMorgan... Clayton Williams (CWEI) downgraded to Sell from Neutral at Roth Capital... Disney (DIS) downgraded to Neutral from Buy at Guggenheim... Endo (ENDP) downgraded to Neutral from Buy at Mizuho... Five Below (FIVE) downgraded to Hold from Buy at Deutsche Bank... Garrison Capital (GARS) downgraded to Market Perform from Outperform at William Blair... General Growth (GGP) downgraded to Hold from Buy at Evercore ISI... Helmerich & Payne (HP) downgraded to Hold from Buy at Evercore ISI... Kosmos (KOS) downgraded on investor sentiment, costs at RBC Capital... MannKind (MNKD) downgraded to Neutral from Buy at Griffen Securities... Media General (MEG) downgraded to Hold from Buy at Evercore ISI... Progressive (PGR) downgraded to Sell from Neutral at Goldman... Sabra Health Care (SBRA) downgraded on challenges, investor sentiment at Stifel... Simon Property (SPG) downgraded to Hold from Buy at Evercore ISI... Springleaf (LEAF) downgraded after settlement on acquisition reached at BMO Capital... Steiner Leisure (STNR) downgraded to Market Perform from Outperform at William Blair... Taubman Centers (TCO) downgraded to Hold from Buy at Evercore ISI... TerraForm Power (TERP) downgraded to Neutral from Buy at UBS... UniCredit (UNCFF) downgraded to Neutral from Buy at Citi... Violin Memory (VMEM) downgraded to Hold from Buy at Maxim... Vipshop (VIPS) downgraded to Equal Weight from Overweight at Morgan Stanley... Wolseley (WOSYY) downgraded to Hold from Buy at Deutsche Bank.
08:39 EDTMNKDMannKind downgraded to Neutral from Buy at Griffen Securities
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08:27 EDTARWRArrowhead to hold an analyst and investor reception
Management hosts an Analyst and Investor Reception to discuss ARC-520 and key data presented at the 66th Annual Meeting of AASLD in San Francisco on November 16 at 9:30 pm. Webcast Link
07:22 EDTVNDABrean Capital to hold a summit
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November 15, 2015
18:28 EDTARWRArrowhead reports data on anti-hepatitis B effects of ARC-520 in chimpanzees
Arrowhead announced the presentation of data demonstrating that ARC-520, its drug candidate against chronic hepatitis B infection, leads to "robust, sustained anti-viral effects in chimpanzees with chronic HBV," according to the company. Arrowhead also reported a new discovery that HBV DNA integrated into the host genome is "likely an important source of HBV surface antigen production, particularly in chimps that are negative for hepatitis B e-antigen." ARC-520 led to a drop in circulating HBsAg, with the degree of HBsAg reduction correlating with HBeAg status. HBeAg-positive and negative chimps demonstrated HBsAg reductions of 96.8%-99.8% and 68.4%-87.4%, respectively, with an intermediate response in a chimp transitioning from HBeAg positive to negative. In addition, one chimp seroconverted for HBeAg during ARC-520 therapy and had a sustained virologic response with respect to HBeAg, HBV DNA, and HBsAg. This persisted off therapy and through at least 32 weeks after ARC-520 and NUC therapy was removed. A second chimp demonstrated effects consistent with immunologic reactivation. Arrowhead also found that the predominant form of liver HBV DNA differed in HBeAg-negative versus HBeAg-positive chimps. Most HBV DNA in HBeAg-positive chimps was cccDNA, while less than 5% of HBV DNA in HBeAg-negative chimps was cccDNA. In addition, HBV RNA profiles in HBeAg-negative chimps were consistent with transcripts arising from integrated DNA. "These data and others, strongly suggest that integrated DNA is likely an important source of HBsAg production in HBeAg-negative chimps," claimed the company. "Direct confirmatory data" was obtained by treating HBeAg negative chimps with a siRNA designed to target transcripts originating from integrated HBV DNA. Up to an additional 99% of HBsAg knockdown was achieved, resulting in overall relative knockdown levels similar to those observed using ARC-520 in HBeAg-positive chimps. Arrowhead said it has incorporated one of these RNAi triggers and one targeting predominantly cccDNA derived transcripts into a new complementary drug candidate, ARC-521, that is planned to be in clinical trials in 2016. The company noted it plans to present additional data at the Hep Dart conference in December demonstrating that two of four HBeAg-positive chimps exhibited signs of immune reactivation, "which is believed to be a necessary step toward achieving a functional cure of HBV."
15:08 EDTICPTIntercept reports analysis of Phase 3 obeticholic acid study, other data
Intercept announced results from three studies in primary biliary cirrhosis, recently renamed primary biliary cholangitis, for presentation at the American Academy for the Study of Liver Diseases annual meeting. The studies evaluate investigational use of obeticholic acid, Intercept's lead farnesoid X receptor agonist. In a presentation titled, "Clinical Epidemiology of Primary Biliary Cirrhosis based on a Large U.S. Laboratory Database: Incidence and Trends in Serum Alkaline Phosphatase," an analysis of a clinical database of more than 575,000 patients who received an anti-mitochondrial antibody test showed that, of those patients, 6,107 were classified as having probable PBC based on a positive AMA test and ALP greater than the upper limit of normal at any time prior to AMA testing or up to one month following AMA testing. The study found that 69% of those likely PBC patients continued to have elevated ALP two years after the first positive AMA test. Meanwhile, a presentation titled "A Trial-Based Model of Liver Transplant and Liver-Related Death in Patients with Primary Biliary Cirrhosis" includes an analysis of data from the Phase 3 POISE trial of OCA in PBC using the UK-PBC predictive model of transplant-free survival based on ALP, bilirubin, alanine transaminase, albumin and platelet count. Risk was assessed at 5, 10 and 15 years based on a 12-month change from baseline in patients treated with OCA plus or minus ursodiol or placebo plus or minus ursodiol at the end of the POISE study. The UK-PBC risk algorithm showed a significantly lower risk of liver transplant or liver-related death in OCA-treated patients compared to placebo. Lastly, a presentation titled "Physician versus Patient Perceptions of Medical Care Quality in Primary Biliary Cirrhosis" showed that patients may not be properly informed about their ALP scores and the nature of PBC symptoms.
14:38 EDTICPTIntercept reports analyses of OCA in fatty liver patients
Intercept Pharmaceuticals announced new results from the non-invasive evaluation of liver fibrosis in patients from the FLINT trial of obeticholic acid, or OCA, for the treatment of nonalcoholic steatohepatitis, or NASH. In the trial, treatment with once daily 25 mg OCA was shown to reverse fibrosis in a "significant proportion" of biopsy-proven NASH patients, as observed by repeat liver biopsy at the end of the double-blind treatment phase at week 72, according to the company. Post-hoc analysis evaluated the early predictive value of three known non-invasive fibrosis tests -- FIB-4, APRI and NFS -- in identifying patients who experienced improvement in fibrosis. Each was assessed at baseline and over the course of treatment and then correlated with histologic changes observed in the OCA and placebo patients. The analysis demonstrated that OCA treatment of NASH patients led to a statistically significant decrease in FIB-4 from baseline as compared to placebo. Further, a decline in FIB-4 of 10% after 24 weeks of treatment predicted improvement in fibrosis by at least one stage as assessed by biopsy at 72 weeks, according to Intercept. Similarly, OCA-treated patients experienced a significant decrease in APRI as compared to placebo, and a 34% reduction in APRI at 24 weeks predicted improvement in fibrosis by at least one stage at 72 weeks. On average, OCA treatment reduced the FIB-4 score to less than 1.3 and the APRI score to less than 0.5, the respective cut-off values associated with advanced fibrosis, while placebo patients remained above these cut-offs. While NFS declined in the OCA-treated patients and increased in the placebo patients, it did not appear to be sensitive to changes in fibrosis, the company said.
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