Posts for Ticker ‘IDEV’

The Week’s Top Biotech Movers For Next Week (TRCA, ACOR, ISPH, ONCY, PCYC, SQNM, IDEV, LGND, AUXL)

Out of the daily movers this last week, many of the top winners and losers were from news in many of the smaller biotech stocks.  We prepared a list of the winners and sinners from our daily review at BioHealthInvestor.com and gave a summary regarding the moves on each.  It is becoming more obvious that many small and mid-sized biotechs are going to be gobbled up by European or Asian biotech and pharma companies seeking the dollar-discount right now.

For starters, we ran a summary of the key moving pieces out of the American Society of Clinical Oncology (ASCO).  No review would be complete without it. Stocks covered: (AVAN, PFE, CELG, IMCL, DNA)

ACQUISITION NEWS
Tercica, Inc. (NASDAQ: TRCA) bites the dust as its own company the latest small cap biotech received a huge premium acquisition from a foreign buyer, with a 104% premium.  FULL DETAILS

MAJOR WINNERS
Acorda Therapeutics Inc. (NASDAQ: ACOR) had a great week after it announced positive data from a second Phase III study of its Fampridine-SR for patients’ walking abilities in MS patients.  FULL DETAILS

Inspire Pharmaceuticals Inc. (NASDAQ: ISPH) surged after reaching its primary endpoint in Phase III trial of Denufosol for Cystic Fibrosis.  FULL DETAILS

Oncolytics Biotech Inc. (NASDAQ: ONCY) gained after the Canadian biotech’s positive Phase II studies of intravenous REOLYSIN® in patients with sarcomas metastatic to the lung.  FULL DETAILS

Pharmacyclics Inc. (NASDAQ: PCYC) gained after its Phase 1/2 trial of motexafin gadolinium plus antibody targeted radiation therapy showed a high complete response rate in patients with non-Hodgkin’s lymphoma.  FULL DETAILS

Sequenom Inc. (NASDAQ: SQNM) surged after it announced its progress with a non-invasive technology that detects Down syndrome. FULL DETAILS

MAJOR LOSERS
Indevus Pharmaceuticals Inc. (NASDAQ: IDEV) tanked after an FDA request should cause a two-year delay in approving NEBIDO.  FULL DETAILS

MIXED REVIEW
Ligand Pharmaceuticals Inc. (NASDAQ: LGND) is one we gave a full pro and con review covering the upside of the stock and the negative side of the stock.  FULL DETAILS

Auxilium Pharmaceuticals Inc. (NASDAQ: AUXL) was a strange stock this week.  The company reported great news but shares slid before the market figured out it had misinterpreted news in the company.  INITIAL DETAILS

Jon C. Ogg
June 7, 2008

Posted on: June 7, 2008 – 6:01 am in Biotech, The Week, , , , , , , , ,

The 52-Week Low Club (ABK)(MBI)(BAC)(JAVA)(IDEV)

Indevus Pharmaceuticals (IDEV) Bad news on drug trial. Falls to $1.21 from 52-week high of $8.22.

Ambac (ABK) Possible downgrade by Moody’s. Drops to $2.45 from 52-week high of $89.33.

MBIA (MBI) Same downgrade issue. Sells off to $5.42 from 52-week high of $68.98.

Sun Microsystems (JAVA) No one believes turnaround story. Moves down to $12.09 from 52-week high of $25.04.

Bank of America (BAC) Concerns about earnings and buy-out of Countrywide (CFC). Slips to $31.81 from 52-week high of $52.96.

Douglas A. McIntyre

Posted on: June 4, 2008 – 2:40 pm in Mergers and Buy Outs, , , , ,

Pre-Market Stock News (December 20, 2007) (ACN, ATVI, ALTU, ARRY, ATHX, BSC, BX, CAKE, ECHO, INTU, FDX, MLHR, IDEV, LDK, LEG, LOCM, NKE, ORCL, PIR, RIMM, RAD, RUTH, SMOD, SCS, DEEP, TRB)

This is not every bit of news on individual stocks but this is the major news affecting many shares in pre-market activity this Thursday morning:

  • Accenture (ACN) stock up 4% after posting $0.60 EPS vs. estimate of $0.56.
  • Activision (ATVI) again guided earnings higher.
  • Altus Pharmaceuticals (ALTU) traded down almost 20% after it reacquired ALTU-238 development and commercialization rights for North America from Genentech, an end to the development pact.
  • Array BioPharma (ARRY) traded down almost 20% after it announced initial results from a Phase II study comparing its monotherapy with temozolomide in the first-line treatment of advanced melanoma showed no apparent difference in efficacy for the primary endpoint.
  • Athersys (ATHX) and Angiotech announce authorization of Phase I stem cell trial for heart attacks.
  • Bear Stearns (BSC) expected to post first loss.
  • Blackstone (BX) plans to sell a $9 Billion CMBS offer backed by Hilton Hotels in Q1 2008.
  • Cheesecake Factory (CAKE) had a 10% stake taken by activist Nelson Peltz.
  • Electronic Clearing house (ECHO) getting acquired by intuit for $17.00 per share.
  • FedEx (FDX) $1.54 EPS vs. $1.50 estimates (had been lowered) but next quarter $1.15-1.30 vs. $1.38 est.; $6.40 to $6.70 for year bvs. $6.47 estimate.
  • Herman Miller (MLHR) $0.72EPS Vs. estimate of $0.59; stock rose about 10%.
  • Indevus Pharma (IDEV) trading down about 5% on a non-approvable letter from the FDA for VALSTAR NDA supplement (submitted May 2007).
  • Intuit (INTU) paying $131 Million for ECHO.
  • LDK Solar (LDK) $0.37 EPS on $157M revenues vs. $0.37/$143.22M est.; Q4 guidance $0.40-$0.41 on $180-$185M revenues vs. $0.41/$167.5M est.; stock indicated down 5%.
  • Leggett & Platt (LEG) stock down about 5% on lower guidance.
  • Local.com (LOCM) announced a strategic partnership with IAC/Interactive’s Citysearch; stock trading up 7% on news.
  • Nike (NKE) traded up 3% after $0.71 EPS on $4.3 Billion revenues vs. estimates $0.66/$4.3B.
  • Oracle (ORCL) traded up 6% after beating earnings and giving slightly higher guidance; sees enterprise spending lasting into 2008.
  • Pier 1 (PIR) -$0.11 EPS vs -$0.24 estimate.
  • Research-in-Motion (RIMM) reports earnings after the close today.
  • Rite Aid (RAD) indicated down about 5% after posting loss.
  • Ruths Chris (RUTH) gave an earnings warning.
  • Smart Modular Tech (SMOD) $0.18 EPS vs. $0.17 estimate.
  • Steelcase (SCS) $0.30 EPS vs. $0.28 estimate.
  • Superior Offshore (DEEP) signed a letter of intent with a strategic partner for ownership of a DP-III deepwater construction and dive support vessel expected to be delivered in late 2008.
  • Tribune (TRB) buyout supposedly set to close today.

Jon C. Ogg
December 20, 2007

Posted on: December 20, 2007 – 8:02 am in Pre-Market Activity, , , , , , , , , , , , , , , , , , , , , , , , , ,

Pre-Market Stock News (August 13, 2007)

(BEAS) BEA Systems trading up 6% pre-market on 3 upgrades: Raised to Buy at B of A; raised to Buy at UBS; raised to Outperform at Bear Stearns.
(BX) Blackstone earned posted revenues $975M vs $1.06 Billion.
(C) Citigroup disclosed $500+ million in credit losses, yet stock indicated higher.
(EMC) EMC trading up 2% ahead of VMware IPO pricing (as of now VMware IPO should price today and trade Tuesday).
(GS) Goldman Sachs is adding $3 Billion in additional capital into one of its ‘undervalued’ hedge funds.
(HOV) Hovnanian said quarterly net contracts are down 24% and forecast higher cancellations.
(IDEV)  Indevus Pharm announced receipt of a $49.9 Million milestone payment from Esprit Pharmaceuticals.
(LCRY) LeCroy $0.12 EPS vs. $0.06 est.
(MOT) Motorola signed contracts with China Mobile for nearly $400 million.
(NITE) Knight Trading said that Goldman Sachs invested for a minority interest in its Direct Edge ECN.
(PHTN) Photon Dynamics raised mid-point of range.
(Q) Qwest Communications names Edward A. Mueller Chairman and Chief Executive Officer
(SHLD) Sears is lowering KMart and Sears sales.
(SYY) Sysco Foods $0.49 EPS vs $0.46 est.
(USBE) US Bioenergy $0.15 EPS vs $0.12 est.

Jon C. Ogg
August 13, 2007

Posted on: August 13, 2007 – 7:32 am in Pre-Market Activity, , , , , , , , , , , ,

Pre-Market Stock News (June 7, 2007)

(A) Agilent reiterated guidance after completing Stratagene buyout.
(ADCT) ADC Telecom trading up 3% after posting $0.35 EPS vs $0.24 estimates.
(ANN) Ann Taylor May s-s-s -4.6% versus -3.1% estimate.
(ATVI) Activision will take $66.7 million non-cash and pre-tax charge for options back-dating.
(BEBE) Bebe Stroes May s-s-s -3% versus -2.8% estimate.
(BHI) Baker Hughes rig count rose 23 to 1,007 versus April and up from 920 in May 2006.
(BMET) Biomet’s private equity buyout raised to $46.00.
(CALL) CallWave announced the ‘industry’s first’ Visual Voicemail gadget for Google Personalized Homepage.
(CHINA) CDC Corp. appointed two new directors.
(COST) CostCo s-s-s were +7% in May, above 5.5% estimates.
(DJ) Dow Jones may have some interest from owner of Philadelphia Inquirer.
(DSCO) Discovery Laboratories initiated a Phase II clinical trial evaluating the use of Surfaxin in children up to two years of age suffering from Acute Respiratory Failure.
(ESLT) Elbit Systems awarded $110 million order by Thales UK to provide ISTAR capability for UK armed forces.
(FINL) Finish Line guided Q1 earnings below estimates and now sees a loss.
(HGSI) Human Genome Sciences shows positive final results Of Phase 2b trial of Albuferon
(IDEV) Indevus Pharmaceuticals reports positive data from Phase III NEBIDO trial for development for the treatment of male hypogonadism.
(INFN) Infinera Corp. IPO priced 14M shares at $13.00, above the 410.00 to $12.00 range.
(IMMC) Immunicon has released highlights from podium presentations made at ASCO meeting.
(JOSB) Jos. A. Banks may s-s-s +13.5% versus +4% estimate.
(JCP) JC Penney May s-s-s -2% vs +0.3% estimates.
(JWN) JW Nordstrom’s May s-s-s +6.3% versus +2.6% estimate.
(LTD) Limited Brands May s-s-s _2% vs -1% estimate.
(MSFT) Microsoft has entered a cross license pact with LG Electronics for further development of current and future product lines.
(OPTT) Ocean Power Tech awarded a $1.7 million Navy order for its PowerBuoys.
(SFD) Smithfield Foods $0.34 EPS vs $0.34e; named new CFO.
(SHRP) Sharper Image May s-s-s -8% vs -13% estimate.
(UTIW) UTI Worldwide $0.18 EPS vs $0.16e.
(WMT) Wal-Mart s-s-s +1.1% vs 1.2% estimate; sales were +1.3% after fuel.
(YANB) Yardville National gets $35.00 buyout from PNC.

Jon C. Ogg
June 7, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: June 7, 2007 – 7:20 am in Pre-Market Activity, , , , , , , , , , , , , , , , , , , , , , , , , , , , ,