82.70 +0.29 (0.35%)
Pre-Market: 7:07AM EDT
|Bid||82.70 x 1200|
|Ask||83.00 x 900|
|Day's Range||82.20 - 84.17|
|52 Week Range||74.13 - 123.25|
|Beta (3Y Monthly)||1.33|
|PE Ratio (TTM)||22.92|
|Earnings Date||Oct 25, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||111.65|
IMpassion130 reports first positive Phase III study results for a chemotherapy/immunotherapy combination in first-line metastatic triple negative breas
Centrexion Therapeutics Corp., a pain treatment developer founded by the former leaders of Pfizer Inc. and Celgene Corp., on Friday disclosed plans to go public.
Wall Street analysts expect Biogen’s (BIIB) third-quarter revenues to increase ~8.2% to $3.33 billion—compared to its revenues of $3.07 million during the third quarter of 2017. Biogen’s stock price has decreased nearly 4.1% in the last 12 months. Analysts’ recommendations show a 12-month target price of $390.88 per share—compared to the last price of $330.15 per share as of October 18.
Biotech price action at all capitalization levels has deteriorated in recent weeks, with the two major sector funds giving up the majority of their 2018 gains. The iShares Nasdaq Biotechnology Index Fund ( IBB) and the SPDR S&P Biotech ETF ( XBI) carve different price patterns due to their unique holdings and construction. The market-cap weighted Nasdaq fund is dependent upon its biggest components, with Amgen Inc. ( AMGN), Gilead Sciences, Inc. ( GILD), Biogen Inc. ( BGEN) and Celgene Corporation ( CELG) comprising more than 32% of portfolio weighting.
Agios (AGIO) aims at commercializing its newly approved leukemia drug Tibsovo, which has great potential in the AML market. Heavy reliance on Celgene for royalties and collaboration revenues is a woe.
Biogen (BIIB), a leading biotechnology company, is scheduled to release its third-quarter earnings on October 23. Analysts expect the adjusted EPS to be $6.78 on revenues of $3.33 billion during the third quarter.
Since hitting a 52-week high on Oct. 1, the Nasdaq Biotechnology Index, the broadest gauge of the industry’s performance, has fallen more than 6.5 percent. On top of the economic and political anxieties pushing the market lower, many large biotech companies had already been dragged down by the Trump administration’s campaign to lower drug prices, as well as fears that companies like Celgene Corp. and Gilead Sciences Inc. lack clear successors for older blockbusters that will face cheaper competitors in coming years. Celgene and other large biotechs like Biogen Inc. and Vertex Pharmaceuticals Inc. have led the Nasdaq index lower in recent weeks.
Pfizer (PFE) reported an EPS of $0.74 on revenues of ~$13.5 billion during the second quarter, which beat analysts’ estimate of ~$13.3 billion.
For whatever the reason — the trade war, Federal Reserve or general market malaise — investors have turned on a variety high-momentum shares. The rout in biotech stocks has been pretty severe. The iShares NASDAQ Biotechnology Index (NYSEARCA:IBB) — the broad sector benchmark — is down roughly 5% in October.
AstraZeneca (AZN) and partner Merck's Lynparza receive Orphan Drug designation (ODD) by the FDA for the treatment of pancreatic cancer.
How's Celgene Positioned before Its Third-Quarter Earnings? Otezla’s net revenues grew from $358.0 million in the second quarter of 2017 to $375.0 million in the second quarter, which reflects ~4.7% growth YoY (year-over-year). In the US market, Otezla fell 4.9% YoY in the second quarter and reported revenues of $291.0 million.
A new survey examines the topic of brain volume loss, known as brain atrophy, in people with multiple sclerosis. The survey findings, presented at ECTRIMS 2018, suggest that there is a high level of interest in better understanding how brain atrophy may impact disease progression. The survey, conducted by the Multiple Sclerosis Association of America (MSAA) and sponsored by Celgene, included more than 1,300 people with multiple sclerosis or someone responding on their behalf.
The healthcare industry is watching the Trump presidency closely. President Trump's promise to repeal and replace Obamacare hit repeated stumbling blocks in Congress. Despite the uncertainty surrounding these efforts to overhaul the nation's healthcare system, a number of healthcare stocks rose dramatically throughout 2017.
How's Celgene Positioned before Its Third-Quarter Earnings? Celgene’s (CELG) hematology and oncology franchise consists of Revlimid, Pomalyst, Abraxane, Idhifa, Vidaza, Istodax, and Thalomid. Revlimid’s revenues grew from $3.9 billion in the first half of 2017 to $4.7 billion in the first half of 2018, which reflects ~19.6% growth YoY (year-over-year).
Wall Street analysts expect Celgene to report a net income and EPS of $1.2 billion and $1.71, respectively, in the third quarter.
Oct 10 (Reuters) - Beigene Ltd: * BEIGENE ANNOUNCES NATIONAL REIMBURSEMENT INCLUSION OF VIDAZA® (AZACITIDINE FOR INJECTION) BY THE STATE MEDICAL INSURANCE ADMINISTRATION IN CHINA * BEIGENE SAYS VIDAZA ...
Ozanimod showed effects on cognitive processing speed in a post hoc analysis of 12-month data from SUNBEAM™ pivotal trial
After narrowly dodging a corruption conviction, New Jersey Senator Bob Menendez faces a re-election dogfight against former Celgene CEO Bob Hugin. The Senator is now lying to voters about his opponent’s business record the way he dissembled about his political corruption. Democrats always treat a Republican candidate from business as if commerce is by definition criminal, and Mr. Hugin is no exception.