This was on Fidelity: ...11:38 ET - Biogen (BIIB) down 1%, as the stock reverses from pre-market gain of 2.9%. Shares jumped before the open based on big sales beat for Spinraza, company's new rare disease drug whose 2Q sales were nearly three times greater than analysts forecast. Jefferies says the decline during regular session driven by a mix of profit taking, lack of long term guidance from management, and other factors. Also hurting the stock is that company didn't announce any new share repurchases, and signaled there may not be any coming in near-term. BIIB will shift capital allocation away "from emphasizing share repurchases to prioritizing business development and investing for growth," CEO Michel Vounatsos says on conference call.
Looks like Chevy was right, this stock is garbage. IBB and FBIOX are both near 52 week highs and that is WITHOUT AMGN, BIIB and other top holdings. All the recent bio sector gains are from the new kids. Between AMGNs earnings and the useless Italy news, what's this junk going to be at tomorrow like -70?
whooz yor daddy - Are you going to stop whining now???
explain to me how the stock is down after that earnings report? I just don't get it.
Cheers to all longs!!
guys help i bought in premarket and im new with this...what should i do
Headed to 240 just like the last earnings cycle
whooz yor daddy
Last ER Clancy sold a bunch of shares as he was exiting (4/25) stock sold off from its 291 high with vengeance. I am hopeful we won't have to worry about this scenario this time around Sure would like to see this north of $300 again. Long time since we've seen this.
AMAZING... Got a GS upgrade to $338 and we're already starting to sell off pre-market.
What happened to all the acquisitions BIIB promised? All it did was buy one little drug. Same with GILD. They promised acquisitions too.
How is this Down ? Great report and raised guidance. PE is 16.5 with forward PE of 14. I have held since the 120's and will continue to hold. Regret not selling some in the 400's though
KTOV = Mcap $16 Mil /Cash $17 Mil / ULTRA Low float / NDA submission for potential Blockbuster this Quarter = 20 BAGGER ..ONE OF THE BIGGEST BIOTECH OPPORTUNITY EVER ! Thank me later guys
Kitov Expects to Submit an NDA for KIT-302 in the Third Quarter 2017.Kitov announced that it began the process of compiling the documents necessary to file an NDA for its lead asset KIT-302 as a treatment for patients who experience both osteoarthritis and hypertension. The Company hired Parexel International Corporation, a clinical research organization, to digitalize and formally submit its NDA application. Kitov expects the filing to occur during the third quarter of 2017, with a potential FDA approval during the second quarter of 2018.
KIT-302 is a combination drug that treats osteoarthritis pain and hypertension simultaneously
Primary efficacy endpoint achieved Lead drug candidate KIT-302 achieved its primary efficacy endpoint in a pivotal Phase III trial
Marketing potential Pipeline candidates address large, multi-billion dollar markets
Kitov’s current pipeline products, KIT-301 and KIT-302, are combination drugs that treat OA pain and HTN simultaneously. In December 2015, KIT-302 successfully achieved the primary efficacy endpoint for its Phase III clinical trial. In August 2016, the United States Patent Office issued a patent covering KIT-302.
Of the 27 million Americans with OA, 50% also suffer from HTN, which is also a common side effect of stand-alone OA drugs. With no single medication currently treating both conditions, KIT-301 and KIT-302 are targeting this multi-billion dollar market.
Has nothing to do with Bios people... only down ahead of the healthcare vote. Entire bios and healthcare sector is down.
whooz yor daddy
I'm done.. It did the same flippin thing last time when reporting. Huge run then sells off. Something is vastly wrong here!
Why is this pulling all the way back ?
whooz yor daddy
From $300 to $290. SOS
What is going on here? Earnings were beat, guidance was raised... stock was up $14 pre-market and dropped like a rock at the open. UNBELIEAVABLE.
DCIX news and running
losing -$18/share from pre-market high $300 on a good ER what gives?