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Stock Market & Financial Investment News

News Breaks
April 3, 2014
12:40 EDTOREX, VVUS, 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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May 27, 2015
17:49 EDTOREXZosano Pharma elects Orexigen's Joseph Hagan to board of directors
Zosano Pharma (ZSAN) announced earlier the election of Joseph Hagan to its board of directors, effective May 22. Hagan is EVP, Chief Business & Financial Officer of Orexigen Therapeutics (OREX). Bruce Steel, chairman of Zosano, remarked that Hagan is "a seasoned business and financial executive with a significant track record in complex partnerships and transactions who will add additional breadth of perspective to our board as Zosano advances its clinical development programs in osteoporosis, hypoglycemia and migraine."
May 21, 2015
10:12 EDTOREXOptions with decreasing implied volatility
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