Biopharma News: Theravance Inc (THRX), VIVUS, Inc. (VVUS), Amgen, Inc. (AMGN)

Editor’s Note: Related tickers: Theravance Inc (NASDAQ:THRX), VIVUS, Inc. (NASDAQ:VVUS), Amgen, Inc. (NASDAQ:AMGN), Acorda Therapeutics Inc (NASDAQ:ACOR), Myriad Genetics, Inc. (NASDAQ:MYGN)

Theravance Rises on FDA Staff Report on Lung Drug With Glaxo (Bloomberg)
Theravance Inc (NASDAQ:THRX) rose the most in a year after a staff report by U.S. regulators showed the once- daily lung disease treatment the company is developing with GlaxoSmithKline Plc (GSK) may be able to win approval. Theravance rose 20 percent to $28.62 at 10:15 a.m. New York time after reaching $29.11 for its biggest intraday gain since April 2012. The medication called Breo is meant to treat chronic obstructive pulmonary disease, an umbrella term for emphysema and chronic bronchitis.

VIVUS, Inc. (NASDAQ:VVUS) to make changes in its Risk Evaluation strategy (US Market Buzz)
VIVUS, Inc. (NASDAQ:VVUS)’s intention to revise the risk management plan for its anti-obesity drug Qsymia would not guarantee its success, a top shareholder of the company said. Qsymia, one of the two weight loss drugs approved by the US Food and Drug Administration, has not seen selling as successfully as expected.

Theravance Inc (NASDAQ:THRX)Amgen Stock Rating Reaffirmed by Barclays Capital (AMGN) (Daily Political)
Amgen, Inc. (NASDAQ:AMGN)‘s stock had its “equal weight” rating reiterated by equities research analysts at Barclays Capital in a research note issued to investors on Monday, Analyst Ratings.Net reports. They currently have a $105.00 price target on the stock. A number of other analysts have also recently weighed in on AMGN. Analysts at UBS AG raised their price target on shares of Amgen from $98.00 to $121.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at Lazard Capital Markets raised their price target on shares of Amgen, Inc. (NASDAQ:AMGN) from $106.00 to $125.00 in a research note to investors on Thursday.

Acorda Therapeutics rises on Ampyra study (San Francisco Chronicle)
Shares of Acorda Therapeutics Inc (NASDAQ:ACOR) jumped Monday after the company said that its drug Ampyra helped stroke patients recover their ability to walk in a mid-stage clinical trial. Acorda said patients who took Ampyra recovered were able to walk faster and had an easier time performing daily tasks. The trial involved 83 patients who had an ischemic stroke at least six months earlier, and who still had walking problems. Ischemic strokes occur when a blood vessel that supplies blood to the brain is blocked.

Myriad Genetics CEO Claims He Owns Your Genes (Forbes)
Today, in a letter filled with non sequiturs and distortions, Myriad Genetics, Inc. (NASDAQ:MYGN)’s CEO Peter Meldrum, worried about whether his company will be able to maintain their monopoly on a test for which they charge $4000, responded. Let’s look at his claims. First, though, let me remind readers that the genes in question, BRCA1 and BRCA2, are linked to an increased risk of breast and ovarian cancer, a risk that was first discovered in 1994 by scientists at the University of Utah.

Theravance Inc (THRX): Here’s One Thing To Know About The Stock Today (Insider Monkey)
Theravance Inc (NASDAQ:THRX) has experienced a decrease in support from the world’s most elite money managers of late, but insiders on the whole appear bullish. More importantly, shares of Theravance are up more than…

…18% today on the hope of a fruitful FDA decision later this week. With that in mind, it’s important to look at how hedge funds and insiders have been trading it of late.

Stocks Review: VIVUS, Inc.(NASDAQ:VVUS), Amgen, Inc. (NASDAQ:AMGN), Lincoln National Corporation(NYSE:LNC) (Meshpress)
VIVUS, Inc. (NASDAQ:VVUS)VIVUS, Inc. (NASDAQ:VVUS) shares climbed 3.88% to $11.25. First Manhattan Co. (FMC), an owner-operated investment advisory firm and the beneficial holder of approximately 9.1 percent of the outstanding shares of VIVUS, Inc. (“Vivus”), on April 10 issued a statement in anticipation of the expected announcement from VIVUS, Inc. (NASDAQ:VVUS) that its obesity treatment Qsymia has received a modification in its Risk Evaluation and Mitigation Strategy (REMS). Additionally, the company, on March 26, announced that it has entered into a $110 million non-equity financing with an investment fund managed by Pharmakon Advisors.

April 27: Mayor’s Ride to Kick Off Amgen Bike Tour (SCVNews.com)
Santa Clarita community members are invited to join Mayor Bob Kellar for a free community bike ride beginning at 8:30 a.m. on Saturday, April 27, at the Iron Horse Trailhead located off of Magic Mountain Parkway near Tourney Road. The Mayor’s Ride will kick off a series of events surrounding the 2013 Amgen, Inc. (NASDAQ:AMGN) Tour of California professional cycling race, which is set to ride through Santa Clarita on Tuesday, May 14 and Wednesday, May 15, 2013. The Mayor’s Ride is a family friendly event where riders of any level can participate.

Acorda Therapeutics Price Target Raised to $40.00 at Aegis (ACOR) (Zolmax)
Equities researchers at Aegis boosted their target price on shares of Acorda Therapeutics Inc (NASDAQ:ACOR) from $34.00 to $40.00 in a report issued on Monday, Stock Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Shares of Acorda Therapeutics (NASDAQ: ACOR) traded up 9.20% during mid-day trading on Monday, hitting $34.42. Acorda Therapeutics has a one year low of $21.04 and a one year high of $32.92. The stock’s 50-day moving average is currently $30.73. The company has a market cap of $1.386 billion and a P/E ratio of 8.21.

Myriad Genetics (NASDAQ: MYGN) Could Get Crushed (Wealth Daily)
This week the Supreme Court will provide an oral hearing to decide whether or not the gene patents should be allowed. This is based on a challenge of Myriad Genetics, Inc. (NASDAQ:MYGN), which currently holds patents on a variety of genes linked primarily to ovarian and breast cancer. The Supreme Court will hear a host of arguments in the coming week, including those from doctors, cancer survivors, patients, and scientists, all of whom feel as if genes should not be allowed to be patented by corporations. A decision in the case is expected to be completed by June 2013.

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