|Bid||280.06 x 900|
|Ask||280.25 x 900|
|Day's Range||278.72 - 282.05|
|52 Week Range||244.28 - 370.57|
|PE Ratio (TTM)||19.99|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
On May 17, Amgen (AMGN) stock rose ~0.5% to the closing price of $174.65 per share following FDA approval of Aimovig. The company’s stock price has risen ~2.3% in the last week following recent drug approvals. Amgen’s stock price has risen ~11.2% over the last 12 months.
BlueBird Bio (BLUE) is a biotechnology company focused on developing gene therapy, cancer immunotherapy, and gene editing for the treatment of serious diseases. On May 17, Bluebird Bio (BLUE) stock jumped over 6.1% to the closing price of $189.30 per share, following positive news.
South Korean drugmaker Samsung BioLogics said on Friday joint venture partner Biogen would exercise its call option to increase its stake to 50 percent minus one share in Samsung Bioepis. The plan comes as BioLogics is mired in a regulatory probe into its accounting rules. South Korea's financial regulator said it notified BioLogics, an affiliate of tech giant Samsung Electronics , of measures it could take concerning any breach of accounting rules.
The FDA’s decision to publish a list of companies accused of blocking access to their product samples is part of a broader effort by the Trump administration to address high drug costs.
President Donald Trump’s new plan, “American Patients First,” is supposed to make U.S. drug prices cheaper. For some players, there could be long-term concerns, including for pharmacy-benefit managers and other drug system middlemen. This was partly because many of the ideas in the plan had been raised by the Trump administration prior to the speech, including in a proposed 2019 budget.
Today I will examine Biogen Inc’s (NASDAQ:BIIB) latest earnings update (31 March 2018) and compare these figures against its performance over the past couple of years, in addition to howRead More...
Stocks that moved substantially or traded heavily on Friday: Symantec Corp., down $9.66 to $19.52 The security software maker gave weak forecasts and disclosed an internal investigation. Yelp Inc., down ...
The biotech group is trying to climb past its 50-day moving average, so it may be a good time to keep an eye on biotech ETFs.
In this daily bar chart, below, we can see that BIIB has rallied above the bottoming 50-day moving average line. The daily On-Balance-Volume (OBV) line has been moving sideways since early March even though prices were still declining into late April. In the bottom panel of this chart we can see a bullish divergence as momentum makes higher lows from February while prices made lower lows.
Jim Cramer examines "the four horsemen of biotech" to see if their weakening stocks can regain momentum.
"Mad Money" host Jim Cramer examines "the four horsemen of biotech" to see if their weakening stocks can regain momentum. With a major market comeback underway, CNBC's Jim Cramer zeroed in on four key stocks in a sector that's not getting much love: biotechnology. Biogen BIIB , Celgene CELG , Regeneron REGN and Gilead GILD — some of the sector's most prominent names that Cramer labeled "the four horsemen of biotech" — have become outright hated by investors.
Keytruda, Merck’s (MRK) top-selling drug, was launched in 2014. In 1Q18, Keytruda revenue grew 151% YoY (year-over-year) to ~$1.5 billion from $584 million. The growth includes 142% operating revenue growth and a 9% boost by foreign exchange.
In 1Q18, Biogen (BIIB) generated operating cash flow of $1.4 billion compared with $235 million in 1Q17. This increase was attributable to an increase in net earnings, a decrease in accrued expenses and other current liabilities from $684 million in 1Q17 to $122 million in 1Q18, and a positive change in income tax assets and liabilities from -$195 million in 1Q17 to $257 million in 1Q18. In 1Q17, Biogen spent $744.2 million on investing activities.
Biogen (BIIB) generated total revenues of $3.1 billion in 1Q18, an 11.4% increase over total revenues of $2.8 billion in 1Q17. Revenues from the US fell from $1.6 billion in 1Q17 to $1.5 billion in 1Q18. In percentage terms, the contribution of the US to total revenues decreased from 58% in 1Q17 to 49% in 1Q18. Contribution from the rest of world revenues to total revenues increased from 26.7% at $749 million in 1Q17 to 31.5% at $985.5 million. For fiscal 2018 and 2019, the company is expected to generate revenues of $12.9 billion and $13.3 billion, respectively.
Biogen (BIIB) and Eisai also have a collaboration agreement for developing and commercializing aducanumab. Additionally, Biogen and Eisai also co-promote Avonex, Tysabri, and Tecfidera in Japan. Biogen and Samsung Bioepis announced an agreement with AbbVie (ABBV) in April 2018 for commercializing Imraldi.
Biogen’s (BIIB) other products include Fumaderm, Benepali, and Flixabi. Sales of Fumaderm decreased from $9.7 million in 1Q17 to $7 million in 1Q18. Biogen’s Zinbryta, which was developed and commercialized in collaboration with AbbVie (ABBV), was approved in the US in May 2016 and in the EU in July 2016 for the treatment of relapsing forms of multiple sclerosis.
Spinal muscular atrophy (or SMA) includes loss of motor neurons in the spinal cord and lower brain stem, which leads to severe and progressive muscular atrophy and weakness. The total worldwide sales of Biogen’s (BIIB) Spinraza increased from $47.4 million in 1Q17 to $363.9 million in 1Q18. Biogen expects the growth rate of the drug to moderate over time as patients transition to dosing every four months.
Biogen (BIIB) is a global biopharmaceutical company with a focus on developing and commercializing innovative therapies for serious neurological and neurodegenerative diseases. Of the total 31 analysts covering Biogen (BIIB) in May, 22 analysts have given the stock a “buy” or higher rating, while nine analysts have given it a “hold” rating. The mean rating for the stock is two with a target price of $356.43.