|Bid||80.98 x 400|
|Ask||81.11 x 200|
|Day's Range||80.37 - 81.53|
|52 Week Range||63.76 - 86.27|
|PE Ratio (TTM)||9.22|
|Forward Dividend & Yield||2.08 (2.56%)|
|1y Target Est||N/A|
Alexion, Gilead and Vertex are likely to beat the consensus' fourth-quarter model, an analyst predicted.
Shares of Gilead Sciences (GILD) didn't have a great 2017, and analysts are split on whether or not the stock will find its footing this year, as biotech stocks face a challenging 2018. Guggenheim's Tony Bulter and his team reiterated a Neutral rating on Gilead Friday, as part of their biotech earnings preview. Butler writes that its eroding Hepatitis C (HCV) drug sales continues to impact earnings, but that those declines could start to bottom out in the second half of this year.
Celgene Corp. (NASDAQ:CELG), best known for the psoriasis medicine Otezla and a number of cancer drugs, like Revlimid and Vidaza, sent the stock of Juno Therapeutics Inc. (NASDAQ:JUNO) up 55% on Jan. 17 when it was reported to be buying it. An acquisition probably won’t change a lot for CELG stock. The rumored price for Juno would be $10-12 billion, not a big deal when Celgene is worth $80 billion, but Juno was only worth $5.6 billion on Jan. 12.
While Merck & Co., Inc. (NYSE:MRK) had gotten off to a modest pace to start the year, the last few trading sessions have been rather explosive. Specifically, on Jan. 16, MRK stock rocketed higher by about 6%. All told, Merck stock is up more than 10% this year.
Pharma and biotech stocks made an impressive comeback in 2017 with the Nasdaq Biotechnology Index and the NYSE ARCA Pharmaceutical Index gaining 18.7% and 11.8%, respectively. Immuno-oncology remains a key focus area with Gilead acquiring Kite last year for $11.9 billion and Celgene Corporation (NASDAQ:CELG) currently rumored to be interested in acquiring Juno Therapeutics Inc (NASDAQ:JUNO).
Juno Therapeutics Inc (NASDAQ:JUNO) stock is up about 50% after the Wall Street Journal reported on Tuesday that biotech giant Celgene Corporation (NASDAQ:CELG) is in talks to buy the company. Juno Therapeutics is a pioneer in the booming cell therapy industry, where biotech companies are developing modified human immune cells to combat cancer cells.
Jay Fung, of Delray Beach, was sentenced by U.S. District Judge Anne Thompson in Trenton, New Jersey, after pleading guilty in March 2016 to conspiracy to commit securities fraud, prosecutors said. The former Morgan Stanley broker, Kevin Dowd, pleaded guilty in September 2013 to a criminal conspiracy charge, and has also settled with the U.S. Securities and Exchange Commission.
A Florida man was sentenced on Wednesday to one year in prison for engaging in insider trading based on a tip he received from an ex-Morgan Stanley broker about Gilead Sciences Inc's planned $11.2 billion purchase of Pharmasset Inc in 2011, prosecutors said. Jay Fung, of Delray Beach, was sentenced by U.S. District Judge Anne Thompson in Trenton, New Jersey, after pleading guilty in March 2016 to conspiracy to commit securities fraud, prosecutors said. The former Morgan Stanley broker, Kevin Dowd, pleaded guilty in September 2013 to a criminal conspiracy charge, and has also settled with the U.S. Securities and Exchange Commission.
Celgene could comfortably spend $11 billion to acquire Juno, an analyst said Wednesday after rumors circulated that the two biotechs could be in merger talks.
There are reports that Celgene (CELG) is in talks to acquire Juno Therapeutics to strengthen its portfolio given the recent series of setbacks.
Shares of Gilead Sciences (GILD) underperformed in 2017, and analysts are split on whether to get slightly more optimistic about the stock, while others argue that 2018 won't be its year either. Count Wells Fargo's Jim Birchenough and his team among the former. Birchenough writes that he's more confident in the stability of Hepatitis C trends this year, with an expectation of trough earnings in 2019, followed by multiple expansion on growth beyond that year.
Should Investors Be Interested in Vertex Pharmaceuticals in 2018? In 3Q17, Vertex Pharmaceuticals (VRTX) reported non-GAAP (generally accepted accounting principals) net profits of ~$136 million, which is a YoY (year-over-year) growth of ~216.3%, driven mainly by the rapid rise in total cystic fibrosis (or CF) drug sales. The company reported non-GAAP combined SG&A (selling, general, and administrative) and R&D (research and development) expenses of ~$334 million, which is a YoY rise of 13.2%.
Can Teva Pharmaceutical's Restructuring Plan Help It Recuperate? As we saw in the previous part of this series, Teva Pharmaceutical Industries (TEVA) is determined to pay down a considerable amount of its debt totaling $32 billion over the next few years. The company aims to achieve financial stability through improvement in operating profits and stable cash flow generation over the next few years.