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Stock Market & Financial Investment News

News Breaks
April 3, 2014
12:40 EDTVVUS, OREX, ARNAVIVUS retreats after analyst cuts rating to sell equivalent
Shares of VIVUS (VVUS), which has developed an anti-obesity drug, are declining after research firm Piper Jaffray downgraded the stock in a note to investors earlier today. WHAT'S NEW: Piper analyst Charles Duncan wrote that he was "increasingly wary" about the outlook for VIVUS' anti-obesity drug, Qsymia. Prescription trends for the drug are "underwhelming," while VIVUS has so far failed to find a U.S. marketing partner for the drug, the analyst explained. Moreover, a competing anti-obesity drug, Orexigen's (OREX) Contrave, is expected to be launched in the second half of this year, Duncan wrote. He now expects VIVUS to generate revenue of $53M for Qsymia, versus what he said was the consensus outlook of $92M. Duncan cut his rating on the stock to Underweight, the equivalent of a sell, from Neutral and slashed his price target on the shares to $3 from $8. WHAT'S NOTABLE: Despite the downgrade, Duncan wrote that he continues to believe the U.S. anti-obesity market outlook is improving. Arena Pharmaceuticals (ARNA) has also developed an anti-obesity drug. Belviq. PRICE ACTION: In early afternoon trading, VIVUS fell 8% to $5.70, Orexigen dropped 4.3% to $6.20, and Arena fell 3.6% to $6.45.
News For VVUS;OREX;ARNA From The Last 14 Days
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August 8, 2014
10:36 EDTOREXOptions with increasing implied volatility
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August 7, 2014
16:21 EDTVVUSVIVUS reports Q2 EPS (25c), consensus (28c)
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10:51 EDTOREXOptions with increasing implied volatility
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07:55 EDTOREXOrexigen to host conference call
Conference Call to discuss 2Q14 earnings, as well as provide an update on the NB32 review will be held on August 7 at 8 am. Webcast Link
07:12 EDTOREXOrexigen reports Q2 EPS (21c), consensus (21c)
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