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The Latest Breaking News from SVB

French, German banks take a pasting on solvency fears at US lender

The value of shares in France's major banks sank on Friday after trouble at a regional US lender sparked a Wall Street rout on the sector in the United States. Deutsche Bank shares were down nearly 10 percent at the opening in Frankfurt.

Radio France Internationale

Bill Ackman thinks the government should consider SVB bailout

The founder of Pershing Square Capital Management said the collapse of Silicon Valley Bank "could destroy a long-term driver of the economy."

Fortune

US adds 311,000 jobs in February; UK economy returns to growth; regulators take over Silicon Valley Bank – as it happened

UK economy has proved ‘more resilient than many expected’ says chancellor Jeremy Hunt, while problems at Silicon Valley Bank knock FTSE 100 down 2%

The Guardian - UK

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VCs and startup founders are freaking out about Silicon Valley Bank

Startup founders are pulling cash from Silicon Valley Bank, even as some VCs say the panic is overblown and fueling the fire.

Fortune

Silicon Valley Bank spooks Silicon Valley

Several top VC firms, including Coatue and Founders Fund, today suggesting pulling money out of SVB.

Axios

Dow Jones Futures Fall With Jobs Report Due After S&P 500 Sell-Off; SVB Financial Still Crashing

The S&P 500 plunged below its 200-day line as SVB Financial triggered a sell-off in bank stocks. The February jobs report looms.

Investors Business Daily

Silicon Valley Bank creates UK subsidiary in boost for London’s tech sector

The firm said the move reflects the strong growth of tech businesses in the UK

Evening Standard

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This Analyst Thinks Blueprint Medicines' Non-Dilutive Funding 'Deflates M&A Speculation'

Today Blueprint Medicines Corp (NASDAQ:BPMC) announced strategic financing agreements with Sixth Street and Royalty Pharma Plc (NASDAQ:RPRX) for up to $1.25 billion, including $575 million upfront upon deal closure. SVB Securities thinks the terms of the deals are fairly valued on the Sixth Street portion and favorable for Blueprint Medicines on the Royalty Pharma portion. "In addition,…

Benzinga

This Analyst Says US Government Buying More COVID-19 Vaccines At Higher Prices

Pfizer Inc (NYSE:PFE) and BioNTech SE (NASDAQ:BNTX) announced a new COVID-19 vaccine supply agreement with the U.S. government. SVB Leerink says that the new contract implies the price per Comirnaty dose is ~$30.50. Comirnaty U.S. pricing per dose has increased from $19.50 (2020 contracts), to $24 (+23%; 2021 contract), and now to ~$30.50 (+27%). The analysts…

Benzinga

What SVB Says On Axsome's Strategy Review On Sunosi For Sleeping Disorder

Axsome Therapeutics Inc (NASDAQ: AXSM) held an investor event to review its strategy with Sunosi, which is indicated for excessive daytime sleepiness (EDS) in narcolepsy and obstructive sleep apnea (OSA). SVB Leerink says its view on Sunosi has not changed.

Benzinga

Analysts Believe Madrigal's Resmetirom Shows Impressive Overall Profile In Liver Fibrosis

Madrigal Pharmaceuticals Inc (NASDAQ:MDGL) presented multiple resmetirom abstracts at the European Association for the Study of the Liver's International Liver Congress. The data included new details on changes in FibroScan controlled attenuation parameter and liver stiffness measurement along with magnetic resonance elastography, which serves as critical non-invasive measures of liver stiffness and fibrosis. …

Benzinga

SVB Leerink's Pro-forma Analysis Of Speculated Merck/Seagen Deal - What Investors Need To Know

SVB Securities conducted a pro-forma analysis of the financial impact to Merck & Co Inc (NYSE: MRK) from a potential acquisition of Seagen Inc (NASDAQ: SGEN).

Benzinga

Jefferies Maintains Buy Rating for SVB Finl Gr: Here's What You Need To Know

Jefferies has decided to maintain its Buy rating of SVB Finl Gr (NASDAQ:SIVB) and lower its price target from $692.00 to $534.00. Shares of SVB Finl Gr are trading down 7.14% over the last 24 hours, at $411.27 per share. A move to $534.00 would account for a 29.84% increase…

Benzinga

SVB Leerink Sees Over 600% Upside For This Penny Biotech Stock

SVB Leerink initiated Selecta Biosciences Inc (NASDAQ:SELB) coverage with an Outperform rating and a price target of $7. The analysts view ImmTOR's approach to mitigate ADAs as de-risked by early clinical data from SEL-212 and believe that the ability to tame the immune response bodes well for ImmTOR's clinical potential in combination with…

Benzinga

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Benzinga

Regulatory Update On Intercept Pharma's Obeticholic Acid For NASH Delayed Again

Intercept Pharmaceuticals Inc's (NASDAQ:ICPT) pre-submission meeting to discuss the marketing application for obeticholic acid (OCA) in NASH has been moved to July (vs. June scheduling). The update follows a recent request from the FDA that topline data from the REGENERATE reanalysis be provided to the agency for review before the meeting. SVB Leerink…

Benzinga

SVB Sees De-Risked Opportunity For This Newly Listed Norovirus Vaccine

SVB Leerink is initiating coverage of HilleVax Inc (NASDAQ:HLVX) shares with an Outperform rating and a $30 price target. The analyst believes the company’s potentially first-in-class infant norovirus vaccine HIL214 represents a uniquely de-risked opportunity. It estimates $625 million in risk-adjusted infant HIL214 sales in 2030E ($1 billion unadjusted). The outlook is supported by…

Benzinga

SVB Sees Strategic Value In This Stock As M&A Target In Autoimmune Space

SVB Securities initiated coverage on Argenx SE (NASDAQ:ARGX) with an Outperform rating and a $404 price target. Argenx's Vyvgart (efgartigimod) is a neonatal Fc-Receptor (FcRn) antagonist that selectively reduces IgG levels and has the potential to address numerous IgG-mediated autoimmune diseases. According to the analyst, Argenx has demonstrated strong early launch execution for Vyvgart…

Benzinga

ACHV: First Quarter 2022 Results

By John Vandermosten, CFA NASDAQ:ACHV READ THE FULL ACHV RESEARCH REPORT

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Benzinga

Here's Why This Analyst Is On Sidelines Despite European Approval Of Myovant's Relugolix For Prostate Cancer

Myovant Sciences Ltd (NYSE:MYOV) received European approval for Orgovyx (relugolix, 120 mg) for advanced hormone-sensitive prostate cancer, and SVB Securities think Orgovyx could be a ~$1 billion product in advanced prostate cancer long term. But the surprise Myfembree setback in endometriosis has sparked uncertainty and new investor questions for Myovant's 2nd program. Hence, SVB remains on the…

Benzinga

ACHV: 2021 Results: ORCA-3 Underway, ORCA-V1 Soon to Start

By John Vandermosten, CFA NASDAQ:ACHV READ THE FULL ACHV RESEARCH REPORT

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