Right now investors are looking more at the cheaper stocks on the move for 2014. I really believe PCYC should consider doing 2 for 1 split with the float so low.for this type security. They need to attract investors early as '14 many not be a bonanza people think it will. Any thoughts anyone?.
Pharmacyclics Inc. (NASDAQ: PCYC) has been a top biotech name in 2013 and looks to stay that way this year. The company operates as a clinical-stage biopharmaceutical company focusing on developing and commercializing small-molecule drugs for the treatment of cancer and immune mediated diseases. Goldman Sachs recently cited the recent stock pullback as a golden opportunity for investors to buy stock. The Baird price objective is $132, and the consensus number is higher at $147.50. The stock closed Friday at $105.78.
January 3, 2014 3:37 Deutsche Bank maintained a Buy rating on Pharmacyclics (NASDAQ: PCYC) with a price target of $170.00. Analyst Robyn Karnauskas calculated Q4 Imbruvica sales of $6.5 million.
"IMS recently released week #7 scripts for Imbruvica and our calculations indicate a beat for Q4’13 at ~$6.5M vs. recent consensus at $2.6M. Our calculations also imply ~42% use of Imbruvica in CLL pts, potentially. NRx stood at 127 vs. 151 last week. NRx decline was ~15.9% (potentially due to Xmas)," said Karnauskas.
"We note that Imbruvica is being sold in two forms 1) a 120 cap bottle and 2) a 90 cap bottle. While the 120 cap bottle is the standard 1 month dose for MCL, the 90 cap bottle could be used as 1 month supply of the commonly used dose for CLL or to dose titrate down for intolerant MCL pts. However, in our opinion, it may be too early to dose titrate MCL pts during the launch phase. If we assume all the pts getting 90 cap prescription are CLL pts, we calculate ~42% of the Imbruvica use in week 7 was in CLL," added the analyst.
Interesting that DB suspects such a high proportion of off-label usage. In any event, it's clear that CLL patients and their physicians are anxious for approval. Thanks again for the many useful posts, jgm.