Ariad Declines Baxalta Offer; Gilead Short Interest Up
Joshua Rodriguez | Sep 02, 2015 12:34AM ET
Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) | Baxalta Inc (NYSE:BXLT)
One of the biggest conversations in the biotech space has been a discussion with regard to whether or not Baxalta will acquire Ariad Pharmaceuticals. The original offer on the table was $2 billion. However, Ariad Pharmaceuticals declined the offer – and rightfully so. The premium offered was far below what the average expected premium is in the biotech space. However, the company is still in the midst of negotiations. Personally, I would love to see this acquisition happen, but I’m not sure it will. Nonetheless, only time will tell what happens next.
h3 Twitter (NYSE:TWTR) Investors Await Management News/h3Twitter Inc (NYSE: TWTR)
Twitter is having a rough day in the market today. However, the declines are likely caused by the market wide declines that we’re seeing today. Nonetheless, there is one big piece of news out of Twitter that’s expected to surface any time now. The company has been working to find a new CEO for quite some time now after the previous CEO resigned due to his failure to pick up user data. Rumors are surfacing that Jack Dorsey is likely to take the long term position, which I think would be great. Nonetheless, no one knows who will take the position just yet. When the decision is made, we can expect it to act as a positive catalyst, and many experts are expecting this to happen on or around Labor Day, which is less than a week away. So, watch closely as opportunity is likely on its way.
h3 Gilead Sciences (NASDAQ:GILD) Short Interest Is Up/h3Gilead Sciences, Inc. (NASDAQ: GILD)
Gilead Sciences is having a rough day in the market as well, however, their declines are beyond current market conditions. Unfortunately, short interest spiked by 16% in the month of August, showing that investors are expecting to see more declines to come. Nonetheless, I still believe that GILD is a great company. They have taken control of the HCV market and maintained that control in the face of strong competition. They are also a major player in the HIV market and are continuing to innovate in the world of medicine. With that said, I think that the short interest has quite a bit to do with overall opinions of the market and, when the market settles, so too will this issue for GILD investors. Nonetheless, expect declines here and there as turbulence continues.
h3 SunEdison Climbs On Insider Buying And Analyst Note/h3SunEdison Inc (NYSE:SUNE)
SunEdison is having an incredible day in the market today, regardless of what is happening elsewhere. First off, Ahmed Chatila, the company’s CEO purchased 9,700 shares. Insider buying is important because it shows that insiders have faith in growth. On top of the insider buying, J.P. Morgan initiated coverage on the stock with a strong rating as well as a strong target price. The rating offered is “overweight” with a target price at $24. As a result of both of these pieces of news, the stock is up in a big way today. Considering the fact that SUNE is part of a strong emerging market and that the CEO obviously has faith in the company’s growth, I’m expecting to see more gains!
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