81.10 +0.15 (0.19%)
After hours: 7:37PM EST
|Bid||80.92 x 100|
|Ask||81.10 x 100|
|Day's Range||80.91 - 82.18|
|52 Week Range||63.76 - 86.27|
|PE Ratio (TTM)||9.21|
|Forward Dividend & Yield||2.08 (2.57%)|
|1y Target Est||N/A|
Gilead Sciences Inc. took another step toward building out its immunotherapy program as part of a $100 million Series A financing for a Philadelphia company. The San Francisco-based Parker Institute for Cancer Immunotherapy, which has championed new research and alliances around ways to use the body's immune system to beat back cancer, also participated in the private stock sale for University of Pennsylvania spinout Tmunity Therapeutics Inc. Co-founded in 2015 by Penn T-cell therapy pioneer Dr. Carl June, Tmunity is developing a diversified portfolio of novel treatments that involve re-engineering a person's own infection-fighting T cells to boost the patient's ability to fight disease.
Celgene is set to acquire Juno Therapeutics for $87 per share or a total value of $9 billion to strengthen its position in the cellular immunotherapy space.
Celgene has gone “all-in” on CAR-T cancer therapies, forking out $9 billion to acquire Juno Therapeutics amid much fanfare. Critics worry this wager may fail to help the biotech giant fill the gaps in its revenue stream.
With earnings surprises well in the cards, the healthcare sector is expected to witness earnings growth of 3% in the fourth quarter, suggesting some upside for healthcare ETFs.
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.