Aug 15- Achillion Pharmaceuticals Inc said all patients treated with its experimental hepatitis C drug showed no detectable levels of the virus four weeks after the therapy, sending its shares up 18 percent. Achievement of 100 percent cure rate confirms the competitive profile of NS5A, Wells Fargo Securities analyst Brian Abrahams wrote in a note.
Achillion's been a takeover target for years. But Merck's acquisition of Idenix may mean Achillion's time has come.
U.S. stock index futures pointed to a lower start to Wall Street trade on Tuesday, despite more upbeat news out of China.
U.S. stocks tallied slight gains on Monday, with benchmark indexes again closing at records.
Baupost Group appears to have made a nearly $1 billion off of Merck's deal to buy Idenix.
Analysts say there's more to Merck's interest in Idenix than its drug portfolio: intellectual property. And that's why Gilead's shares are lower.
Some of Monday's midday movers:
Drug giant Merck said it would purchase Idenix Pharmaceuticals for $3.85 billion, a deal already approved by both companies' board of directors.
U.S. stock index futures pointed to a flat-to-lower open on Wall Street on Monday, despite upbeat data from China and Japan.
Some of the names on the move ahead of the open.
*UBS cuts Idenix price target to $9 from $10. *UBS raises Celgene price target to $82 from $80. Reuters Station users, click. 1568.
*Credit Suisse cuts Idenix Pharmaceuticals Inc to underperform from.
Bristol-Myers Squibb suspended a mid-stage study of its experimental hepatitis C drug BMS-094 due to a serious safety issue — a major blow to the company’s research pipeline that is also likely to rejigger the way Wall Street views other companies’ efforts to develop an all-oral therapy against the viral liver disease.
Stocks wobbled out of the gate Wednesday, with traders hesitant to make any strong commitments head of the afternoon Federal Reserve policy decision.
U.S. stock index futures pointed to a mixed open on Wall Street on Wednesday as investors turned their attention away from the G20 Summit and the euro zone crisis and concentrated instead on domestic concerns.
Check out which companies are making headlines after the bell Tuesday:
Idenix Pharmaceuticals didn’t perform after a bullish trade last month, but investors are trying again.
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There is a great chance that Sirius XM Radio’s stock will hit $1.65 within the next several sessions — in other words, this is bound to get worse before it gets better.
Here’s a look at several under-$10 stocks that look poised to potentially trade higher from current levels.