U.S. Markets close in 4 hrs 30 mins

The Zacks Analyst Blog Highlights: Incyte, Celldex, Bristol-Myers, AstraZeneca and Halozyme

Zacks Equity Research

For Immediate Release
 
Chicago, IL – May 22, 2014 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the Incyte (INCY-Free Report), Celldex (CLDX-Free Report), Bristol-Myers (BMY-Free Report), AstraZeneca (AZN-Free Report) and Halozyme (HALO-Free Report).
 
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.

Here are highlights from Wednesday’s Analyst Blog:

Biotech Stock Roundup

With the annual American Society of Clinical Oncology (TATD) meeting round the corner, several companies are gearing up to present data at the conference. Last week, quite a few companies presented abstracts of data that will be discussed at ASCO. While companies like Incyte (INCY-Free Report) saw a decline in their share price following the presentation of abstracts, others like Clovis saw their share price surging.

Celldex (CLDX-Free Report) Soars on Bristol-Myers (BMY-Free Report) Deal: Celldex is collaborating with Bristol-Myers Squibb for the development of varlilumab and Bristol-Myers’ nivolumab in a phase I/II study. This deal marks the growing interest in the field of immuno-oncology.

With this deal, Celldex is gaining a strong partner in the form of Bristol-Myers, a company with expertise in the field of immuno-oncology. Moreover, the deal terms look favorable – sharing of development costs and more importantly, the restructuring of the Medarex agreement. Additionally, Celldex has the freedom to explore varlilumab with other important mechanisms outside this collaboration. So no surprise that Celldex’s shares shot up 26.9% on the news.

Celldex will also be at ASCO with phase I data on varlilumab.

Incyte Ties Up with AstraZeneca (AZN-Free Report): Celldex was not the only one to tie up with a large-cap company last week targeting the lucrative immuno-oncology field. Incyte and AstraZeneca are also collaborating for a phase I/II study that will evaluate the efficacy and safety of AstraZeneca’s MEDI4736 in combination with Incyte’s INCB24360 in cancer patients.

Halozyme (HALO-Free Report) Up on DMC Recommendation: Halozyme gained 6.9% on news that the Data Monitoring Committee (:DMC) has recommended that a mid-stage study on experimental cancer treatment, PEGPH20, currently on clinical hold, may proceed with some modifications. While the news is encouraging, the FDA is yet to lift the clinical hold. Halozyme has provided this information to the agency requesting it to withdraw the clinical hold on the study.

Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.

About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today.

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros.  In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros.
 
Get the full Report on INCY - FREE
Get the full Report on CLDX - FREE
Get the full Report on BMY - FREE
Get the full Report on AZN - FREE
Get the full Report on HALO - FREE
 
Follow us on Twitter: http://twitter.com/zacksresearch

Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts

Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
 
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
http://www.zacks.com

 
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.


Read the analyst report on INCY

Read the analyst report on CLDX

Read the analyst report on BMY

Read the analyst report on AZN

Read the analyst report on HALO


Zacks Investment Research