Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) on June 18 announced the pricing of a public offering of $300 million principal amount of convertible senior notes due 2021 (the “Notes”). The Notes will bear interest at an annual rate of 1.75% and will mature on June 15, 2021, unless earlier converted, purchased or redeemed. Acorda granted the underwriter an option to purchase up to an additional $45 million principal amount of Notes to cover over-allotments, if any. The Notes will be convertible prior to December 15, 2020 only under certain circumstances and during certain periods, and will be convertible thereafter regardless of those circumstances. Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) weekly performance is -6.70%. On last trading day company shares ended up $6.55. Analysts mean target price for the company is $9.44. Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) distance from 50-day simple moving average (SMA50) is -4.56%.
Teva Pharmaceutical Industries Ltd. (ADR) (NYSE:TEVA) Chairman Phillip Frost said Wednesday that he expects to step down this year, ahead of his term end in 2015. Dr. Frost, who is 77 years old, pointed to “the progress we have made, and continue to make” for his planned departure from the world’s largest generic drug maker. Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) shares advanced 3.05% in last trading session and ended the day on $53.02. TEVA gross Margin is 53.00% and its return on assets is 2.90%.Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) quarterly performance is 6.32%.
Medtronic, Inc. (NYSE:MDT), in collaboration with French drug maker Sanofi has signed a memorandum of understanding to form a global strategic alliance aimed at improving experience of patients suffering from diabetes. Medtronic, Inc. (NYSE:MDT) shares moved up 3.56% in last trading session and was closed at $63.77, while trading in range of $61.65 – $63.92. Medtronic, Inc. (NYSE:MDT) year to date (YTD) performance is 11.62%.
Insmed Incorporated (NASDAQ:INSM) soared Wednesday after the FDA granted Breakthrough Therapy Designation for Arikayce, the biotech company’s only drug candidate. Insmed Incorporated (NASDAQ:INSM) ended the last trading day at $17.78. Company weekly volatility is calculated as 5.98% and price to cash ratio as 6.89.Insmed Incorporated (NASDAQ:INSM) showed a positive weekly performance of 37.72%.
An investigation on behalf of investors, who currently hold shares of Idenix Pharmaceuticals Inc (NASDAQ:IDIX), on 16 June was announced concerning whether the takeover of Idenix Pharmaceuticals Inc. by Merck for $24.50 per shares is unfair to NASDAQ:IDIX stockholders. Idenix Pharmaceuticals Inc. (NASDAQ:IDIX) weekly performance is 1.74%. On last trading day company shares ended up $23.97. Analysts mean target price for the company is $13.19. Idenix Pharmaceuticals Inc. (NASDAQ:IDIX) distance from 50-day simple moving average (SMA50) is 187.10%.