|Bid||88.70 x 2200|
|Ask||89.20 x 900|
|Day's Range||88.72 - 89.87|
|52 Week Range||58.59 - 96.95|
|Beta (3Y Monthly)||1.88|
|PE Ratio (TTM)||16.18|
|Earnings Date||May 2, 2019 - May 6, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||98.40|
CNBC's David Faber reports on the latest news regarding the Bristol-Myers acquisition of Celgene. The company announced in a press release that it will have a special shareholders meeting in April to vote on the Celgene deal. Activist hedge fund Starboard Value, which owns roughly $50 million of stock, has sent notice that it has nominated five directors to the company's board for its annual meeting.
Amgen (AMGN) and partners started enrollment for the second phase III study of omecamtiv mecarbil, which is being developed for the potential treatment of heart failure with reduced ejection fraction.
Biotech leaders are facing growth challenges in 2019 as pricing pressure continues and their biggest drugs face looming patent expirations. Analysts say they will need to innovate — or buy.
Agios' (AGIO) label expansion filing eyes an approval of Tibsovo for newly diagnosed acute myeloid leukemia patients with an IDH1 mutation. The drug also gets a priority review tag from the FDA.
Activist investor Starboard Value LP is unhappy with Bristol-Myers Squibb Co.’s deal to buy rival Celgene Corp., and it has moved to install its own set of directors at Bristol-Myers. The hedge fund has nominated five potential directors, including its chief executive, Jeffrey Smith, and has been meeting with the drugmaker’s executives, Bristol-Myers said in a filing Wednesday. The activist proposal comes as Bristol-Myers has a deal in place to buy Celgene that was valued at $74 billion when it was announced earlier this year.
Reuters reported last week that Starboard was working with a proxy solicitor to gauge the level of support among Bristol-Myers shareholders for the Celgene deal. If it finds enough discontent, Starboard could agitate against it. Bristol-Myers said Starboard informed the company it had bought roughly one million of its common shares.
Bristol-Myers Squibb confirms Starboard's stake in the company and says the $74 billion deal to acquire cancer drugmaker Celgene is "on track" to close during the third quarter.
Intercept Pharmaceuticals (ICPT) saw a big move last session, as its shares jumped more than 6% on the day, amid huge volumes.
ROE helps investors distinguish profit-generating companies from profit burners and is useful in determining the financial health of a company.
The largest Insider Buys this week were for Celgene Corp. (CELG), Yum Brands Inc. (YUM), Omega Healthcare Investors Inc. (OHI) and Zimmer Biomet Holdings Inc. (ZBH). Director Ernest Mario bought 2,000 shares of CELG stock on Feb. 12 at the average price of $89.99. Warning! GuruFocus has detected 3 Warning Signs with CELG.
The fund, run by Jeff Smith, may take no action, the sources added. Bristol-Myers shareholders will vote on the Celgene deal in April. While Celgene shares are pricing in some uncertainty over whether it will be completed, no major Bristol-Myers shareholder has voiced opposition publicly to the deal so far.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Bristol-Myers Squibb Company and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Agios' (AGIO) loss tops estimates in Q4. Its precision medicine Tibsovo receives the FDA nod and leads to significant year-over-year revenue growth.
Bristol-Myers Squibb could still be in play, an analyst said Friday, suggesting Johnson and Johnson, Pfizer or Amgen could make a bid. That would break up Bristol's takeover of Celgene.