|Bid||88.24 x 1000|
|Ask||88.34 x 1400|
|Day's Range||87.96 - 89.49|
|52 Week Range||58.59 - 95.30|
|Beta (3Y Monthly)||1.84|
|PE Ratio (TTM)||16.00|
|Earnings Date||May 2, 2019 - May 6, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||97.66|
On Thursday, shares of Biogen (NASDAQ:BIIB) were hammered, falling more than 29% in just one session. Biogen stock was again under pressure on Friday, falling almost 3% on the day. The move puts the stock down massively on the week and below key support.Source: Biogen via YouTubeBut what's got BIIB stock under pressure in the first place?On Thursday morning, Biogen announced that it and development partner Eisai would terminate two stage 3 clinical trials for their Alzheimer's treatment, aducanumab. As InvestorPlace's Aaron Levitt put it (linked above): "The massive drop was truly an unsettling surprise for BIIB shareholders as the drug was seen as a multi-billion blockbuster and game-changing medication for treating the disease. It really did come out of nowhere."InvestorPlace - Stock Market News, Stock Advice & Trading TipsIt has many investors trapped above at higher prices, with some investors wondering if now's the time to get long. Let's digest the charts here. Trading Biogen Stock Click to EnlargeDespite axing what many were hoping would be a robust treatment, Biogen's fundamentals are still intact. However, the charts are not. Above is a five-year weekly chart highlighting just how much technical damage was dealt out over the past two days. * The 10 Best ETFs to Buy in the Second Quarter It's crazy how much can change in one day. With Biogen stock, we have the stock plunging through the 10-week, 50-week and 200-week moving averages, as well as falling below key support. $250 has been long-time support, buoying BIIB stock for much of the past five years. The exception came in 2016, when Biogen stock broke below this mark for about six months.When that happened, $230 stood tall, but even that mark failed to prop up Biogen this time. What are investors going to do? A retest of the lows near $210 certainly seems to be in the cards now, but the rebound is what has me concerned. Should BIIB stock bounce, bulls need to see what role $250 plays. If this mark acts as resistance, Biogen could be a tough one to own for a while. If it gives way and the stock is able to get back above this mark, then BIIB has a chance to reclaim its prior range.Aggressive bulls could justify a new position in Biogen stock with a stop-loss near the 2016 lows. Conservative bulls may want to wait for a possible retest of those lows or at least a further decline before starting to nibble.In either case, $250 will be an important test at some point. Valuing BIIB StockDespite the technical thrashing, the fundamentals still look attractive. Revenue estimates call for just 2.2% growth this year to $13.75 billion, while earnings expectations call for 9.4% growth to $28.67 per share. That leaves Biogen stock trading at a very low valuation, at just 7.7 times this year's earnings.It would be one thing if Biogen had negative earnings and revenue expectations for this year and next year. But that's not the case, while cash flow generation remains strong. Over the past 12 months, BIIB has generated free cash flow of more than $5.3 billion. That leaves BIIB stock trading at about 8.4 times its trailing free cash flow.Guys, these aren't expensive numbers here, even with the disappointing Alzheimer's news and the lack of robust growth. That said, the discount to the stock price isn't surprising. Just look at a company like Celgene (NASDAQ:CELG), which has forecast for double-digit earnings and revenue growth this year and next year, yet trades at just 8.5 times this year's earnings. And that's with a pending buyout offer from Bristol-Myers Squibb (NYSE:BMY).I would rather be long CELG (and for that matter, I am) than Biogen stock at this point. That said, long-term investors could justify soon nibbling a position in the latter as it nears a potential capitulation low.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, he was long CELG. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks That Will Continue to Rebound in 2019 * 5 Stocks To Buy for the Happiest Employees * 7 ETFs for a Millennial Portfolio Compare Brokers The post Is It Safe to Buy Biogen Stock Right Now? appeared first on InvestorPlace.
The acquisition deal between Bristol-Myers and Celgene faces opposition from stakeholders of Bristol-Myers. The future of the deal depends on the outcome of the Special Meeting in April.
Management and shareholders at Bristol-Myers Squibb continue to spar over the firm’s proposed acquisition of Celgene. Recommendations from proxy-advisory firms will be critical to whether the deal goes ahead.
Bristol-Myers Squibb and activist shareholder Starboard Value are still tussling over the looming $74 billion Celgene acquisition, but analysts are looking ahead to a key proxy vote.
ROE helps investors distinguish profit-generating companies from profit burners and is useful in determining the financial health of a company.
In a nearly 200-page presentation calling for investors to reject Bristol-Myers Squibb’s proposed acquisition of Celgene released on Monday, activist hedge fund Starboard Value called Celgene’s pipeline of new drugs “unproven.
Puma Biotech (PBYI) gains an approval in Australia for Nerlynx as an extended adjuvant treatment in adult patients with early stage HER2-positive breast cancer.
How Major Pharmaceutical Stocks Are Positioned This Month(Continued from Prior Part)Analysts’ recommendations and target priceAnalysts expect an upside potential of 13.72% for Bristol-Myers Squibb (BMY) based on the company’s closing price on
Less than a month before shareholders vote on Bristol-Myers Squibb’s proposed take over of Celgene, activist hedge fund Starboard Value released a presentation detailing its opposition to the deal.
traded blows with activist investor Starboard Value LP Tuesday as the pair issued competing presentations linked to the pharmaceutical group's planned $74 billion takeover of cancer drug specialist Celgene Corp. Bristol Myers said the deal, which if first unveiled in early January, would mean give combined companies number one positions in oncology and cardiovascular drug sales, with a top five standing in immunology and inflammation and nine currency products with over $1 billion in sales. Starboard, for its part, opposes the deal, arguing Celgene is a company facing a "massive patent cliff" that will force it to replace some 60% of its revenues over the next seven years.
PhaseBio's (PHAS) stock skyrockets on positive data from an early-stage study evaluating PB2452, showing immediate and sustained reduction in bleeding risk in patients taking AstraZeneca's Brilinta.
The FDA approves Allergan's (AGN) sNDA for the label expansion of its antibacterial medicine, Avycaz, to treat cUTI and cIAI in pediatric patients.
Jim Cramer thinks that Bristol-Myer's deal with Celgene is a positive thing, despite Starboard's resistance.
Bristol-Myers, Tilray, and Elon Musk are some of the top headlines in business news Tuesday. Here's what Jim Cramer's watching.
posted a wider-than-expected fourth quarter loss but said sales nearly tripled in a growing global market for medical marijuana. Tilray said earnings for the three months ending in December were pegged at a net loss of 33 cents per share, compared to a 4 cents per share profit from the same period in 2017, a figure it put down to "operating expenses related to growth initiatives, expansion of international teams and costs related to financings and M&A activities." Group sales, however, rose more than 200% to $15.5 million, while total kilogram equivalents increased nearly three-fold to 2,053 and the average net selling price rose 5.5% to $7.52 per gram, reported TheStreet's Martin Baccardax. Elon Musk is still in hot water with the SEC about his Twitter presence.
Activist investor says Bristol-Myers' Celgene deal "is ill-advised and could destroy substantial value for shareholders"; Bristol-Myers argues the deal "is a financially and strategically compelling transaction."
Celgene Corp NASDAQ/NGS:CELGView full report here! Summary * ETFs holding this stock are seeing positive inflows * Bearish sentiment is low Bearish sentimentShort interest | PositiveShort interest is extremely low for CELG with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting CELG. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding CELG are favorable, with net inflows of $11.92 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS Markit | NeutralAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Healthcare sector is rising. The rate of growth is weak relative to the trend shown over the past year, however. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Bristol-Myers (BMY) and partner Pfizer ) announce results from the phase IV - AUGUSTUS study evaluating Eliquis (apixaban) versus vitamin K antagonists (VKAs).