|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||57.55 - 58.14|
|52 Week Range||52.26 - 101.80|
|Beta (3Y Monthly)||0.81|
|PE Ratio (TTM)||27.81|
|Forward Dividend & Yield||1.48 (2.53%)|
|1y Target Est||80.95|
Alzheimer's treatment continues to confound biotech companies in the wake of Biogen and Eisai's decision to terminate two late-stage tests. But scientists say there's hope in new theories.
Ocular's (OCUL) phase III study on OTX-TP for the reduction of intraocular pressure (IOP) in patients with primary open-angle glaucoma fails to achieve primary endpoint.
Comparing MRK’s and ABBV’s Outlook: Which Is the Better Pick?(Continued from Prior Part)Lenvima growth trendsIn the first quarter, Merck’s (MRK) and Eisai’s Lenvima reported solid uptake across multiple markets, driven mainly by demand in
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks hitting 52-week highs on April 30) VolitionRX Ltd (NYSE: VNRX ) ZEALAND PHARMA/S ADR ...
Health-care earnings begin in earnest this week. Centene Corp. reported on Tuesday, and Anthem Inc., Biogen Inc., Boston Scientific Corp. and Novartis AG are set to report Wednesday.
Zogenix (ZGNX) receives a Refusal to File letter from the FDA regarding its NDA for Fintepla for the treatment of seizures associated with Dravet syndrome.
United Therapeutics (UTHR) discontinues the development of esuberaprost, as the phase III study fails to meet primary endpoint.
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks hitting 52-week highs on March 28) Baxter International Inc (NYSE: BAX ) Constellation ...
Shares of pharmaceutical giant Biogen Inc. plunged 28% on Thursday morning after the drugmaker said it would discontinue its Phase 3 trials of aducanumab, an investigational drug designed to treat symptoms of early Alzheimer’s disease.
On Friday, the spread between yields of U.S. three-month Treasury bills exceeded those of 10-year notes for the first time since 2007. The inversion of the Treasury yield curve suggested the world's largest economy could slide into recession and reignited fears of a deepening slowdown in the global economy. "Insurers react negatively as it becomes harder for them to manage assets," said Eiji Kinouchi, chief technical analyst at Daiwa Securities.
Japan's Nikkei sold off sharply on Monday as investors moved into bonds and other assets perceived as safe amid renewed fears of a global economic slowdown. The benchmark index was on track for its steepest daily fall in percentage terms since losing 5 percent in late December. On Friday, the spread between yields of U.S. three-month Treasury bills exceeded those of 10-year notes for the first time since 2007.
Biogen and Japanese pharma Eisai announced a new study in Alzheimer's disease treatment Friday following a high-profile failure on Thursday that sent Biogen stock into a tailspin.
Mizuho Securities analyst Salim Syed downgraded Biogen from Buy to Neutral and slashed the price target from $416 to $235. UBS analyst Carter Gould downgraded Biogen from Buy to Neutral and reduced the price target from $395 to $242. Morgan Stanley analyst Matthew Harrison downgraded shares from Overweight to Underweight and slashed the price target from $401 to $210.
Eisai, which is partnering with Biogen Inc (NASDAQ: BIIB) on Alzheimer's research, announced the initiation of a global Phase 3 clinical study Thursday, dubbed Clarity AD/Study 301, of BAN2401, which is being evaluated in patients with early Alzheimer's disease. BAN2401 is a monoclonal antibody that acts against beta-amyloid protein that forms clumps called plaques in the brain, impairing connections between brain cells and triggering inflammation, leading to cell death, both of which are responsible for the onset of Alzheimer's.
SVB Leerink analysts cut their price target on shares of Biogen Inc. to $247 from $341 on Friday. "The uncertainties about the outlook for their MS and SMA franchises are significant," wrote analysts led by Geoffrey Porges, who maintained their market perform rating on the stock. Porges said he and his team "assume that the company takes the responsible decision to terminate all further investments in beta amyloid-directed medicines (which has not occurred), and saves their investors the cash and saves patients and investigators from the burden of such studies. If Biogen does not make this decision, then our adjusted expense forecast could be too low, with further negative effects on our valuation even compared to our new PT." However, despite doubts about the efficacy of drugs based on the amyloid hypothesis, Biogen is forging ahead with its next amyloid-based trial; drug development partner Eisai Co. Ltd. announced on Friday the initiation of another Phase 3 trial, this time evaluating BAN2401, a monoclonal antibody that binds to neutralize and eliminate toxic beta amyloid aggregates. Biogen's stock, which fell 1.1% in premarket trade Friday, plunged 29% on Thursday after the company announced it was discontinuing trials for Alzheimer's drug aducanumab. Shares of the drugmaker have fallen 25% in the year to date, while the S&P 500 has gained 13.9%.
Japan's Nikkei ended little changed on Friday as chip-related stocks offset weakness in financial stocks and drugmakers, which tumbled after Eisai said it will end its Alzheimer drug trials. Advantest Corp soared 6.2 percent and Tokyo Electron surged 5.2 percent. "The U.S. tech sector's recovery is indicating that growth stocks are making a come back," said Norihiro Fujito, a chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities.
Eisai Co Ltd on Friday said it has begun phase 3 clinical trials of Alzheimer's treatment BAN2401, a day after the Japanese drugmaker and U.S. partner Biogen Inc scrapped trials for another Alzheimer's drug, aducanumab. On Friday, Eisai was untraded, flooded with sell orders at 7,565 yen, almost 17 percent lower than its previous close. The demise of aducanumab came after independent experts determined the trials had little hope of succeeding, marking the latest setback in the quest to treat a mind-wasting disease that affects 5.7 million people in the United States alone.
Japan's Nikkei fell in choppy trade on Friday as financial stocks languished, reflecting more cautious U.S. monetary policy, while the drug sector tumbled after Eisai and Biogen said they will end their Alzheimer's drug trials. Financial stocks faced a sell-off after the spread between the three-month Treasury bill yield and the 10-year note yield shrank to its narrowest level since August 2007 on Thursday in the wake of the U.S. Federal Reserve's decision to cease tightening monetary policy.
Eisai Co Ltd's shares were untraded on Friday, hit with a glut of sell orders after the Japanese drugmaker and its partner Biogen Inc said they are ending two drug trials of their experimental Alzheimer's disease drug aducanumab. The decision, which wiped $18 billion off the value on Biogen on Thursday, marks a major setback in the quest to find a treatment for the mind-wasting disease and came after experts determined the trials had little hope of succeeding. Eisai shares were hit with sell orders at 7,565 yen, down nearly 17 percent from Wednesday's close of 9,065 yen, the most it could fall on Friday under exchange rules.