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Stock Market & Financial Investment News

News Breaks
July 24, 2014
06:52 EDTSRPTSarepta terminates Chief Scientific Officer Arthur Krieg
Sarepta disclosed that on July 22, Arthur Krieg, M.D., the company's Chief Scientific Officer, was terminated from his position. No other information was provided in the regulatory filing disclosing the news.
News For SRPT From The Last 14 Days
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May 20, 2015
10:27 EDTSRPTSarepta reverses to new high of the day, levels to watch
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10:22 EDTSRPTSarepta soars after FDA agrees to accept DMD drug submission
The shares of Sarepta Therapeutics (SRPT) are rallying after the company announced that, following meetings with the FDA, it would submit its eteplirsen drug for the agency's approval. Last October, the FDA said the company would have to submit more data on the drug before the agency would consider approving the treatment. WHAT'S NEW: Sarepta announced last night that it would submit its eteplirsen to the FDA for approval. The submission will be done on a rolling basis, with various components of the application being submitted separately. Eteplirsen is a treatment for Duchenne muscular dystrophy or DMD. ANALYST REACTION: Roth Capital analyst Debjit Chattopadhyay responded to the news by more than doubling his price target on Sarepta to $45 from $22. The analyst is upbeat on Sarepta's approach of seeking to address DMD patients' lack of dystrophin, which he calls the patients' primary biochemical defect. He predicts that both eteplirsen and another DMD treatment, BioMarin's (BMRN) drisapersen, will be recommended for approval at a joint panel meeting in the second half of 2015. While both drugs are likely to be approved, BioMarin's decision to not yet initiate new studies on its DMD treatment has placed Sarepta in the pole position, Chattopadhyay believes. BioMarin will have to run additional studies and if both drugs are approved, BioMarin will find it difficult to recruit patients due to drisapersen's safety profile, according to the analyst. Chattopadhyay continues to believe that Sarepta's PMO platform will be the winner in DMD and he kept a Buy rating on the stock. More upbeat on BioMarin was Jefferies analyst Eun Yang. After meeting with BioMarin's management, the analyst reported that the company's confidence has increased following its pre-submission discussions with the FDA. If the FDA approves drisapersen on a non-accelerated basis, BioMarin may not be required to conduct any additional studies, the analyst stated. Yang sees a 60% chance of the drug being approved and believes that the stock would rise more than 25% if approval is granted. The analyst kept a $135 price target and Buy rating on BioMarin shares. PRICE ACTION: In early trading Sarepta climbed 45% to $23.81 and BioMarin was little changed at $125 per share.
10:16 EDTSRPTHigh option volume stocks
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10:00 EDTSRPTOn The Fly: Analyst Upgrade Summary
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09:54 EDTSRPTSarepta gaps up, retraces earlier gains
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09:25 EDTSRPTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: American Eagle Outfitters (AEO), up 8.6%... Computer Sciences (CSC), up 4.1%. ALSO HIGHER: Sarepta Therapeutics (SRPT), up 44.5% after announcing plans for rolling eteplirsen NDA... Genocea Biosciences (GNCA), up 22.5% after GEN-003 Phase 2 trial met primary endpoint... IsoRay (ISR), up 31.7% after Cesium-131 reports 96% success in local control and 100% survival in 5 years... AVEO Pharmaceuticals (AVEO), up 15.7% after presenting results of extension study 902 and gets FDA feedback for tivozanib... Pep Boys (PBY), up 12.5% following reports that potential buyer have approached the company about a possible takeover. DOWN AFTER EARNINGS: Etsy (ETSY), down 19.5%... China Distance Education (DL), down 7.7%... Keysight Technologies (KEYS), down 5.7%.... Lowe's (LOW), down 5.2%. ALSO LOWER: Lpath (LPTN), down 75.6% after announcing that it will undergo corporate restructuring... Achillion Pharmaceuticals (ACHN), down 10.1% following collaboration for HCV with Janssen... El Pollo LoCo (LOCO), down 3.5% after 6M share Block Trade priced at $22.25... Cimarex Energy (XEC), down 3.3% after 6M share Spot Secondary priced at $109.00.
09:10 EDTSRPTSarepta price target raised to $43 from $34 at William Blair
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09:05 EDTSRPTSarepta price target raised to $45 from $22 at Roth Capital
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08:40 EDTSRPTJMP Securities still cautious on Sarepta eteplirsen outlook
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08:34 EDTSRPTSarepta upgraded on eteplirsen NDA submission at SunTrust
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08:10 EDTSRPTSarepta price target raised to $20 from $15 at RBC Capital
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07:36 EDTSRPTSarepta upgraded to Buy at Canaccord
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06:40 EDTSRPTSarepta upgraded to Buy from Hold at Canaccord
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06:34 EDTSRPTSarepta upgraded to Buy from Neutral at SunTrust
Price target is $33.
May 19, 2015
19:06 EDTSRPTOn The Fly: After Hours Movers
UP AFTER EARNINGS: Computer Sciences (CSC), up 5%... NQ Mobile (NQ), up 1.4%. ALSO HIGHER: Sarepta Therapeutics (SRPT), up 38.9% after announcing plans for rolling eteplirsen NDA... LendingClub (LC), up 2.8% after being upgraded to Overweight from Equal Weight at Morgan Stanley. DOWN AFTER EARNINGS: Keysight Technologies (KEYS), down 3.1%... Autodesk (ADSK), down 2.1%. ALSO LOWER: Cimarex Energy (XEC), down 4% after filing to sell 6M shares of common stock... Norwegian Cruise Line (NCLH), down 2.5% after filing to sell 20M ordinary shares for holders... Achillion Pharmaceuticals (ACHN), down 3.2% following collaboration for HCV with Janssen.
16:11 EDTSRPTSarepta up 36% to $22.28 after announcing plans for rolling eteplirsen NDA
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16:04 EDTSRPTSarepta to submit rolling eteplirsen NDA, sees complete submission by mid-year
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16:02 EDTSRPTSarepta plans to complete Eteplirsen NDA submission by mid-year
16:01 EDTSRPTSarepta says to submit first two components of Eteplirsen NDA this week
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16:01 EDTSRPTSarepta to submit rolling NDA for Eteplirsen following meeting with FDA
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