New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 21, 2014
10:01 EDTSQBK, SLMVV, NAVIV, ATEN, PCRX, AHP, TWOU, ATO, AGTCOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 2U (TWOU) initiated with a Buy at Compass Point... A10 Networks (ATEN) initiated with a Buy at Citigroup... Applied Genetic (AGTC) initiated with a Buy at Cantor... Ashford Hospitality Prime (AHP) initiated with a Hold at Deutsche Bank... Atmos Energy (ATO) initiated with a Neutral at JPMorgan... Navient (NAVIV) initiated with a Buy at Goldman... Pacira Pharmaceuticals (PCRX) initiated with a Buy at BofA/Merrill... Puma Biotechnology (PBYI) initiated with a Buy at Citigroup... Sallie Mae Bank (SLMVV) initiated with a Neutral at Goldman... Square 1 Financial (SQBK) initiated with a Market Perform at Keefe Bruyette.
News For TWOU;ATEN;AGTC;AHP;NAVIV;ATO;PCRX;SLMVV;SQBK From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
July 6, 2015
07:00 EDTAGTCApplied Genetic price target raised to $32 from $28 at Cantor
Cantor increased its price target on Applied Genetic (AGTC) after the company announced a partnership deal with Biogen (BIIB). The firm thinks that the deal increases the chances of Applied Genetic accelerating and diversifying its pipeline. Cantor reiterates a Buy rating on Applied Genetic.
July 2, 2015
12:10 EDTAGTCApplied Genetic platform validated with Biogen deal, says Roth Capital
Subscribe for More Information
11:19 EDTAGTCPiper questions Biogen partnership with Applied Genetic
Piper Jaffray analyst Joshua Schimmer says he's not sure why Biogen (BIIB) felt a need to enter the ophthalmology space via its collaboration today with Applied Genetic (AGTC). While gene therapy is likely to become an important driver of the biotech industry in the coming years, Biogen may be not fully appreciating the complexity of vector and delivery technology, Schimmer tells investors in a research note. He believes Biogen still needs to improve its pipeline and growth outlook. Nonetheless, the analyst keeps an Overweight rating on the stock with a $485 price target. Shares are down $1.53 to $403.88 in late morning trading while Applied Genetic is up $2.38 to $18.64.
09:39 EDTAGTCApplied Genetic rallies on Biogen collaboration
Subscribe for More Information
09:15 EDTAGTCOn The Fly: Pre-market Movers
Subscribe for More Information
07:18 EDTAGTCApplied Genetic to host conference call
Conference call to discuss Biogen collaboration will be held on July 2 at 8 am. Webcast Link
07:11 EDTAGTCApplied Genetic Technologies to resume trading at 7:30 am EDT
Subscribe for More Information
07:06 EDTAGTCBiogen, AGTC enter collaboration to develop gene therapies in ophthalmology
Biogen (BIIB) and AGTC (AGTC) announced a collaboration and license agreement to develop gene-based therapies for multiple ophthalmic diseases. The collaboration will focus on the development of a portfolio of AGTC’s therapeutic programs, including both a clinical stage candidate and a pre-clinical candidate for orphan diseases of the retina that can lead to blindness in children and adults. The agreement also includes options for early stage discovery programs in two ophthalmic diseases and one non-ophthalmic condition, as well as an equity investment in AGTC by Biogen and a license agreement for manufacturing rights. Biogen will make an upfront payment in the amount of $124M to AGTC, which includes a $30M equity investment in AGTC at a price equal to $20.63 per share and certain prepaid research and development expenditures. Biogen will be granted a license to the XLRS and XLRP programs and the option to license discovery programs for three additional indications at the time of clinical candidate selection. Under the collaboration, AGTC is eligible to receive upfront and milestone payments exceeding $1B. This includes up to $472.5M collectively for the two lead programs, which also will carry royalties in the high single digit to mid-teen percentages of annual net sales. In addition, Biogen will make payments up to $592.5M across the discovery programs, along with royalties in the mid single digits to low teen percentages of annual net sales. Biogen obtains worldwide commercialization rights for the XLRS and XLRP programs. AGTC has an option to share development costs and profits after the initial clinical trial data are available, and an option to co-promote the second of these products to be approved in the United States. AGTC will lead the clinical development programs of XLRS through product approval and of XLRP through the completion of first-in-human trials. Biogen will support the clinical development costs, subject to certain conditions, following the first-in-human study for XLRS and IND-enabling studies for XLRP. Under the manufacturing license, Biogen will receive an exclusive license to use AGTC’s proprietary technology platform to make AAV vectors for up to six genes, three of which are in AGTC’s discretion, in exchange for payment of milestones and royalties. The transaction is subject to customary closing conditions, including the expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in the United States, and is expected to close in the third calendar quarter of 2015.
06:57 EDTAGTCApplied Genetic Technologies trading halted, pending news
Subscribe for More Information
June 26, 2015
08:01 EDTAHPAshford Hospitality announces planned sale of select-service hotel portfolio
Ashford Hospitality (AHT) announced several strategic initiatives. The company has analyzed numerous strategies to maximize shareholder value with its select-service hotels including: raising private capital and forming a joint venture, a spin-off similar to Ashford Hospitality Prime (AHP), holding the select-service assets indefinitely, and/or selling many or all the select-service assets. After a full analysis of the potential strategies and in response to investor feedback, the company announced that it intends to immediately commence the process to list for sale a portfolio of approximately 23 select-service hotels that are mostly brand-managed and will take an opportunistic approach to selling the remaining select-service hotels in the future. In addition, the company will redefine its investment strategy to focus predominantly on upper upscale, full-service hotels. The Company's advisor, Ashford may separately pursue sponsoring a select-service platform. The for-sale 23 select-service hotel portfolio totals 4,308 rooms, is encumbered by approximately $190M of long term fixed rate debt and approximately $187M of maturing or floating rate debt for total debt of approximately $377M. The current trailing 12-month NOI for the portfolio is approximately $44M, and the trailing 12-month RevPAR for the portfolio is approximately $88. It is anticipated that the proceeds from this sale will be redeployed into assets that are consistent with Ashford Trust's redefined strategy: predominately upper upscale, full-service hotels.

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