Fri, Nov. 18, 11:13 AM
- Barron's Ben Levisohn reports that Gilead Sciences (GILD -1.3%) has a range of attractive candidates should it decide to spend some its $32B cash hoard on an acquisition, a virtual certainty after the recent momelotinib disappointment.
- Considering the company's stated interest in oncology, obvious choices are Incyte (INCY -1.1%) and TESARO (TSRO -3%).
- Venturing out into the rare disease space, Alexion Pharmaceuticals (ALXN -1.6%), Vertex Pharmaceuticals (VRTX -1.6%) and BioMarin Pharmaceutical (BMRN -1.1%) are attractive fare.
- None of these companies are a surprise to biotech followers. All have been noted as buyout targets for some time now.
Tue, Nov. 15, 12:43 PM
Tue, Nov. 15, 12:09 PM
- Gaining on five times or more their normal volume:
- Equity One (EQY +8.6%)
- Golar LNG (GLNG +8.1%)
- LG Display (LPL +1.9%)
- Mentor Graphics (MENT +1.2%)
- Zebra Technologies (ZBRA +12.8%)
Tue, Nov. 15, 11:01 AM
Tue, Nov. 15, 9:17 AM
Tue, Nov. 15, 8:04 AM
Mon, Nov. 14, 5:39 PM
Thu, Nov. 3, 4:29 PM
Wed, Nov. 2, 5:35 PM
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Fri, Oct. 14, 6:49 AM
- Merck (NYSE:MRK) upgraded to Buy from Neutral by Bank of America. Price target raised to $70 (12% upside) from $57.
- HCA Holdings (NYSE:HCA) upgraded to Overweight from Sector Weight by KeyBanc.
- Momenta Pharmaceuticals (NASDAQ:MNTA) upgraded to Overweight from Equal Weight by Barclays. Price target raised to $19 (54% upside) from $13.
- TESARO (NASDAQ:TSRO) upgraded to Buy from Neutral with a $123 (6% upside) price target by Bank of America.
- Pfizer (NYSE:PFE) downgraded to Hold from Buy with a $36 (10% upside) price target by Jefferies.
- Theravance Biopharma (NASDAQ:TBPH) downgraded to Underperform from Neutral by Baird. Price target raised to $24 (25% downside risk) from $19.
- Ilumina (NASDAQ:ILMN) downgraded to Sell from Neutral by Janney Montgomery Scott. Price target lowered to $125 (9% downside risk) from $155. Downgraded to Neutral from Buy by Citigroup. Price target lowered to $140 (2% upside) from $190.
- Myriad Genetics (NASDAQ:MYGN) downgraded to Sell from Neutral with a $16 (14% downside risk) price target by Ladenburg Thalmann.
Mon, Oct. 10, 4:09 PM
- Myriad Genetics (MYGN -11.6%) couldn't find a friend today despite the market's up move. Shares were down on 33% higher volume. The bearishness appears to have arisen from TESARO's (NASDAQ:TSRO) successful Phase 3 study of niraparib in ovarian cancer. The drug extended progression-free survival regardless of BRCA status thereby undermining the need for a companion diagnostic test like Myriad's myChoice HRD. If this portends a broader trend in oncology, then there may not be much long-term demand for companion diagnostics.
Mon, Oct. 10, 12:45 PM
Mon, Oct. 10, 11:01 AM
Mon, Oct. 10, 9:25 AM
- TESARO (NASDAQ:TSRO) is up 15% premarket on increased volume in response to its announcement of positive results from a Phase 3 clinical trial, ENGOT-OV16/NOVA, assessing PARP inhibitor niraparib in ovarian cancer (OC) patients. The data were presented at the European Society for Medical Oncology 2016 Annual Meeting in Copenhagen.
- ENGOT-OV16/NOVA met its primary endpoint of showing that treatment with niraparib extended progression-free survival (PFS) in both BRCA-positive and BRCA-negative OC patients.
- Median PFS for the BRCA-positive arm was 21.0 months compared to 5.5 months for control (p<0.0001). In addition, patients experienced a 55% reduction in the risk of death or cancer progression (hazard ratio: 0.45). In the BRCA-negative cohort, median PFS was 9.3 months versus 3.9 months for control (p<0.0001) with the same 0.45 hazard ratio.
- The most common serious (grade 3 or 4) treatment-emergent adverse events for niraparib were thrombocytopenia (33.8%), anemia (25.3%) and neutropenia (19.6%).
Mon, Oct. 10, 9:16 AM
Thu, Sep. 29, 8:38 AM
- TESARO (NASDAQ:TSRO) and Shanghai-based Zai Lab Co. announce a collaboration to support the development and commercialization of niraparib, an oral, once-daily PARP inhibitor, in China and the potential to advance two immuno-oncology programs outside of China.
- Under the terms of the partnership, Zai Lab receives an exclusive license to development niraparib in country, which includes an option for TESARO to participate in the commercialization of niraparib in greater China. Also, TESARO has the option to license two undisclosed novel, discovery-stage immuno-oncology programs from Zai.
- In addition to an upfront payment, TESARO will be eligible to receive milestone payments contingent upon Zai achieving certain specified development and commercial goals. Should TESARO elect not to participate in the commercialization of niraparib in China, TESARO will be eligible to receive tiered, double-digit royalty payments on annual net sales.
- Specific financial terms are not disclosed.