New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 23, 2014
07:28 EDTSHPGShire enters licensing and collaboration agreement with ArmaGen
Shire and ArmaGen, a US privately held biotechnology company, announced a worldwide licensing and collaboration agreement for AGT-182, an investigational enzyme replacement therapy for the potential treatment of both the central nervous system and somatic manifestations in patients with Hunter syndrome. Shire will obtain worldwide commercialization rights for AGT-182 in exchange for payments of approximately $225M to ArmaGen, including an initial upfront payment of $15M in cash and equity, an additional equity investment, R&D funding, development milestones and sales milestones, in addition to royalty payments. ArmaGen will be responsible for conducting and completing the Phase I/II study which it expects to initiate before the end of 2014, after which point Shire will be responsible for further clinical development, including Phase III trials, and commercialization.
News For SHPG From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
April 1, 2015
11:22 EDTSHPGDyax jumps after HAE data, while analysts defend competitors Shire, BioCryst
The shares of drug maker Dyax (DYAX) are surging after the company last night reported data from a Phase 1b clinical trial of its DX-2930 drug, a treatment for hereditary angioedema, or HAE. The disease is a rare genetic disorder characterized by episodes of swelling in different areas of the skin or the internal organ. A number of analysts reacted to the news by significantly raising their price targets on Dyax's stock in notes to investors earlier today. WHAT'S NEW: Dyax last night reported that, in the study, the HAE attack rate of patients taking the 300 mg dose of its drug were 100% lower than those taking placebo. The HAE attack rate of patients taking the 400 mg dose of its drug were 88% lower than those taking placebo, Dyax added. ANALYST REACTION: Jefferies analyst Biren Amin raised his price target on Dyax to $31 from $18, saying that DX-2930 could become the next standard of care in HAE. Most investors would have been pleased if the company's drug had lowered attacks by 35%-50%, wrote the analyst, who kept a Buy rating on the shares. RBC Capital analyst Michael Yee also hiked his price target on the shares to $31 from $18, saying that the results were impressive and clearly showed proof of concept evidence that the company's drug can reduce or prevent nearly all HAE attacks. The drug has an 85% chance of succeeding, added Yee, who kept an Outperform rating on he shares, and believes that the stock could reach $35-$39 if everything goes well for Dyax. Oppenheimer analyst Akiva Felt hiked his price target on Dyax to $26 from $14.as he believes that the data represented a best-case scenario. Investors were anticipating a much smaller reduction in HAE attack rates and the drug has made a giant leap toward becoming the best-in-class prophylactic HAE treatment, added Felt, who kept an Outperform rating on the stock. WHAT'S NOTABLE: Dyax's DX-2930 competes with BioCryst's (BCRX) oral kallikrein inhibitor BCX4161 and shares of BioCryst could see additional weakness in the near-term following Dyax's report, JPMorgan wrote in a note to investors today. However, the firm thinks that BioCryst's stock can rise significantly heading into key catalysts in the second half of the year and kept an Overweight rating on the name. Similarly, research firm Susquehanna wrote that Dyax's positive results will threaten Shire's (SHPG) HAE franchise, though the firm thinks that Shire has multiple pipeline drugs that it can turn into additional high margin therapies. The firm continued to recommend buying Shire's stock. PRICE ACTION: In late morning trading, Dyax soared 48% to $24.80, while Shire lost 2% to $234 and BioCryst gained 4.5% to $9.44.
08:47 EDTSHPGShire HAE franchise threatened by Dyax but catalysts remain, says Susquehanna
Susquehanna noted the Dyax (DYAX) positive results for HAE will threaten Shire's (SHPG) franchise in the space, but said the company has multiple catalysts in its own pipeline to expand its base of high-margin therapies. The firm sees the Dyax entry as having a modest impact to Shire's earnings beyond 2017 and thus remains a buyer of Shire shares. Susquehanna reiterated its Positive rating and $290 price target on Shire.
March 30, 2015
07:48 EDTSHPGAcquisition of BioMarin would make sense for several companies, says SunTrust
Subscribe for More Information
March 27, 2015
16:23 EDTSHPGOn The Fly: Closing Wrap
Stocks opened slightly higher but were unable to gather any upside momentum. They quickly crossed into negative territory but never really picked up speed to the downside. After the slightly better than expected consumer confidence reading, the averages moved back into positive ground where they spent most of the session hovering near the flat line. Near the close, comments by Fed Chair Janet Yellen that an interest rate hike "may be warranted later this year," lifted the averages into positive territory. ECONOMIC EVENTS: In the U.S., real GDP growth was steady at 2.2% in Q4, falling below consensus forecasts for 2.4% growth. GDP price index grew 0.1% on a linked quarter basis, matching expectations. U.S. consumer sentiment fell to 93.0 against consensus of 92.1. The current conditions index dipped to 105.0 from February's 106.9, while the consumer expectations index dropped to 85.3 from 88.0. COMPANY NEWS: Dow Chemical (DOW) and Olin (OLN) were up 3% and 14%, respectively, after announcing that Dow will separate much of its chlorine value chain and merge the entity with Olin in a $5B deal. Additionally, the companies announced a 20-year arrangement in which Dow will supply Olin with ethylene. Late in the session, the Wall Street Journal reported that Intel (INTC) was in talks to acquire Altera (ALTR), sending both stocks higher by 6% and 28%, respectively. MAJOR MOVERS: Among the notable gainers was Carnival (CCL), which rose over 6% after beating earnings expectations and raising FY15 revenue yield guidance. Also higher was BioMarin (BMRN), jumping 11% after speculation of a Shire (SHPG) takeover deal. Among the noteworthy losers was Southern Cooper (SCCO), which fell nearly 4% after the company cancelled its Tia Maria mining project. Also lower was OvaScience (OVAS), down 10% after Oppenheimer reported pushback from academics during the company's presentation of early Augment data. Opco cautioned, however, that criticism of non-trial data is "inevitable" and JMP Securities called the results encouraging. INDEXES: The Dow rose 34.43, or 0.19%, to 17,712.66, the Nasdaq gained 27.86, or 0.57%, to 4,891.22, and the S&P 500 added 4.87, or 0.24%, to 2,061.02.
12:36 EDTSHPGOn The Fly: Midday Wrap
Subscribe for More Information
10:29 EDTSHPGBioMarin 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.
07:38 EDTSHPGBioMarin price target raised to $140 from $90 at Deutsche Bank
Subscribe for More Information
05:58 EDTSHPGBioMarin 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 EDTSHPGBioMarin 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
11:13 EDTSHPGBofA/Merrill European pharma analyst holds an analyst/industry conference call
Subscribe for More Information
March 23, 2015
09:45 EDTSHPGUBS to hold a field trip
Subscribe for More Information
09:37 EDTSHPGActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AUY SLB PFE MCP CELG VRTX SHPG GILD LOGI TSLA TASR NFLX SCTY WFM
07:36 EDTSHPGPfizer should rise 'significantly' over next two years, says Jefferies
Jefferies analyst Jeffrey Holford told investors this morning that he expects shares of Pfizer (PFE) to appreciate "significantly" over the next two years. A survey of U.S. oncologists indicated the company's Ibrance drug will be used in 50% of first line hormonal therapy within one year, with off-label use in all lines of therapy including adjuvant, Holford noted. He thinks peak sales of the drug could top $13B, which is well above consensus. In addition, the analyst views Pfizer's Global Established Pharmaceutical business as being underappreciated by the market. Potential value creating options for the pharmaceutical giant include spinning off its GEP unit by 2017 and accretive acquisitions, with possible takeover targets being Shire (SHPG), Actavis (ACT), AstraZeneca (AZN) and GlaxoSmithKline (GSK), in the eyes of Holford. He added the stock to the firm's Franchise Picks list, which encompasses its best ideas. He also raised his price target for Pfizer to $45 from $42. The stock closed Friday up 10c to $34.25.
March 20, 2015
10:00 EDTSHPGOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
09:41 EDTSHPGBernstein global specialty pharma analyst holds analyst/industry conference call
Subscribe for More Information
08:12 EDTSHPGShire upgraded to Outperform from Market Perform at Bernstein
Bernstein upgraded Shire as the firm thinks that the stock's risk/reward ratio is positive following several new developments. Among these developments are the firm's belief that the company's orphan drug strategy looks increasingly strong, while the risks to the company's Vyvanse and mesalamines drugs look to have moderated and the company has several near-term, 2015 catalysts. Target $295.
March 18, 2015
08:03 EDTSHPGTherapeuticsMD names Angus Russell, J. Martin Carroll as directors
TherapeuticsMD (TXMD) announced the appointment of two biopharmaceutical senior executives, Angus C. Russell and J. Martin Carroll, as independent members of its board of directors, and that Randall S. Stanicky has stepped down from the board of directors. Angus C. Russell served as CEO of Shire PLC (SHPG) from June 2008 until April 2013. J. Martin Carroll served as president and CEO of Boehringer Ingelheim Corp. U.S. from 2003 until 2011.
07:22 EDTSHPGShire looking for 'transformational' deal, Betaville blog says
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use