|Bid||1,907.00 x 0|
|Ask||1,908.50 x 0|
|Day's Range||1,790.00 - 1,930.00|
|52 Week Range||1,540.00 - 2,212.00|
|Beta (5Y Monthly)||0.20|
|PE Ratio (TTM)||12.84|
|Earnings Date||Feb 27, 2020|
|Forward Dividend & Yield||0.28 (1.53%)|
|Ex-Dividend Date||Mar 19, 2020|
|1y Target Est||23.92|
British stocks joined a global rout on Thursday, on concerns over how the spreading coronavirus will choke off global economic growth.
Hikma Pharmaceuticals PLC (Hikma, Group), the multinational generic pharmaceutical company, and Glenmark Specialty S.A., a Swiss subsidiary of Glenmark Pharmaceuticals, a global innovative pharmaceutical company, today announce the signing of an exclusive US license agreement to commercialise Ryaltris™ (olopatadine hydrochloride and mometasone furoate nasal spray), an investigational fixed-dose combination nasal spray for the treatment of seasonal allergic rhinitis (SAR).
Is there more upside in the cards for Amarin (NASDAQ:AMRN) stock? Shares soared late last year on news of the company's flagship Vascepa treatment receiving an expanded label. But after climbing from around the $15 price level to as high as $26.12/share, interest cooled.Source: Pavel Kapysh / Shutterstock.com When I last wrote about Amarin stock in mid-January, shares traded just under $20/share. Since then, the stock has tread water with shares closing at $18.18 on Feb. 12.One can argue that Vascepa's potential is already priced into shares. But, with similar treatments from competitors facing headwinds, Amarin stock could move higher as analysts anticipate even greater potential sales. On the other hand, nothing's for certain in the biotech game.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Exciting Stocks to Buy for Aggressive Investors Things could turn on a dime, pushing Amarin shares back down to prior levels. Yet upside may outweigh risks for Amarin stock. Let's dive in and find out why. Amarin Stock Could Move Higher as Competitors FlounderIn my last Amarin stock article, I discussed how Vascepa's upside potential could be thwarted by competition. AstraZeneca's (NYSE:AZN) Epanova and Acasti Pharma's (NASDAQ:ACST) CaPre face headwinds. Both yielded disappointing Phase 3 results. AstraZeneca is now throwing in the towel on Epanova. Acasti is investigating why, as InvestorPlace's Josh Enomoto reported, CaPre was no more effective than a placebo.With these competitors floundering, things look brighter for Vascepa. In other words, there's good reason why Amarin stock could head higher. Yet in the past month, shares haven't budged due to the news. Some investors remain skeptical of Vascepa's prospects. What's driving this negative sentiment? Competitive risk from generics.Two major generic drug-makers, Dr. Reddy's (NYSE:RDY) and Hikma (OTCMKTS:HKMPF) have generics in their pipeline similar to Vascepa. As I wrote in my prior Amarin stock analysis, both generic makers challenged Vascepa's patent. The uncertainty of this litigation is largely what's keeping Amarin shares from heading higher.Jeffries' Michael Yee is confident in Amarin's chances of winning the case. Proceedings in the case have ended, with a written ruling due by March 31. The analyst believes, based on the evidence presented, the court will rule in Amarin's favor. Yee gives shares a "buy" rating with a $30 price target.With these new developments, it seems Vascepa has a clearer shot of becoming a blockbuster drug. However, buying Amarin stock today is no slam-dunk. Multi-billion dollar sales figures are years away. Based on Amarin's guidance, the company should generate between $650 million-$700 million in revenue this year. That's a big jump from 2019's $425 million in sales. But a far cry from Stifel's estimated $3 billion in peak annual sales. What's Amarin Worth to An Acquirer?Annual sales have a long way to go before hitting the estimated peaks. That's not to say Amarin stock isn't worth more than its current trading price. Despite selling for around 9.4 times estimated 2020 sales, I reiterate Amarin remains a takeover target.Amarin stock is no stranger to takeover talk. Major pharma names find it easier to "buy" new drugs instead of spending billions more on R&D. So far, Amarin has decided to "go it alone." But, I don't see Amarin's board saying no if the price is right.So, what's a fair takeover price for Amarin? Let's assume Vascepa does hit $3 billion in peak sales. Major pharma names like GlaxoSmithKline (NYSE:GSK) and Novartis (NYSE:NVS) have gross margins between 68% and 71%. That implies peak gross profits for Vascepa of around $2 billion.With fixed overhead costs, a major pharma name could add much of this gross profit to the EBITDA line. GSK and NVS have EBITDA margins around 30%, implying fixed costs around 35%-40% of sales. Let's estimate Vascepa's overhead costs are just 30% of sales. That means estimated EBITDA of around $1.14 billion.GSK stock has an EBITDA multiple of 10.3. Novartis has an EBITDA multiple of 15.4. Other names, like Sanofi (NASDAQ:SNY) and Pfizer (NYSE:PFE) have EBITDA multiples around 12. Let's say an acquirer paid $30/share for Amarin stock. Subtracting around $600 million in net cash, that means around a $10.2 billion purchase price for Amarin. In other words, an EBITDA multiple of around nine.Even at a 65% premium to the current Amarin stock price, the company could be an accretive acquisition. Keep in mind this is all back-of-the-envelope. It remains to be seen whether Vascepa lives up to expectations. Bottom Line: Upside Potential Remains, RisksRecent developments could mean more upside for Amarin stock. But keep risks in mind. Amarin next releases quarterly results later this month. If earnings and/or guidance falls short of expectations, shares could move to prior price levels (or lower).Also, the courts could rule against Amarin's favor in the patent suit. Yet, with material upside potential, Amarin stock could be worth the risk.Thomas Niel, contributor to InvestorPlace, has been writing single-stock analysis for web-based publications since 2016. As of this writing, Thomas Niel did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Exciting Stocks to Buy for Aggressive Investors * 20 Stocks to Buy From the Law of Accelerating Returns * 7 U.S. Stocks to Buy on Coronavirus Weakness The post Risks Remain, but Amarin Stock Is a Buy at Today's Prices appeared first on InvestorPlace.
Hikma Pharmaceuticals PLC (Hikma, Group / LSE: HIK / NASDAQ Dubai: HIK / OTC: HKMPY) (rated Ba1/stable Moody's and BB+/positive S&P;), the multinational generic pharmaceutical company, and Arecor Ltd, the biopharmaceutical company advancing today's therapies to enable healthier lives, today announce they have entered into an exclusive agreement to co-develop a new, ready-to-use injectable medicine in the US through Hikma's affiliate, Hikma Pharmaceuticals USA Inc.
Hikma Pharmaceuticals PLC (Hikma, Group / LSE: HIK / NASDAQ Dubai: HIK / OTC: HKMPY) (rated Ba1/stable Moody's and BB+/positive S&P), the multinational generic pharmaceutical company, and Arecor Ltd, the biopharmaceutical company advancing today's therapies to enable healthier lives, today announce they have entered into an exclusive agreement to co-develop a new, ready-to-use injectable medicine in the US through Hikma's affiliate, Hikma Pharmaceuticals USA Inc.
LONDON MARKETS British stocks slumped on Monday in a broad-based retreat on worries over Middle East tensions. The U.K. FTSE 100 (UK:UKX) weakened 0.78% to 7562.72, with decliners outnumbering advancers by a 1589-to-590 margin.
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Moody's Investors Service ("Moody's") has affirmed all the ratings of London-listed generic drug company Hikma Pharmaceuticals PLC ("Hikma"), comprising the Ba1 corporate family rating (CFR), the Ba1-PD probability of default rating (PDR) and Ba1 instrument rating on its existing senior unsecured bond. The affirmation of the Ba1 CFR is supported by the company's recent good performance against price pressures, in particular in the US, its good product pipeline of over 300 products across business segments and geographies, and strong credit metrics as a result of a conservative balance sheet structure. Since 2017, Hikma's sales volumes have been driven by some product differentiation and also benefitted from certain drug shortages in the US market (the region represents 66% of Hikma's revenue), as well as capacity expansion.
LONDON, Nov. 18, 2019 /PRNewswire/ -- Hikma Pharmaceuticals PLC (HIK.L) (NASDAQ Dubai: HIK) (HKMPY), (rated Ba1 Moody's / BB+ S&P, both stable) announces that its venture capital arm, Hikma Ventures has led a CAD 5.6 million oversubscribed round of financing for Winterlight Labs Inc. with participation from First Star Ventures, Pacific Health Ventures, existing investor Grey Sky Venture Partners and other investors. Toronto-based Winterlight Labs Inc. is developing a proprietary Artificial Intelligence (AI) technology that melds computational linguistics, cognitive neuroscience, and machine learning to help healthcare professionals assess and analyse patients' cognitive health – including memory, thinking and reasoning – from vocal markers captured in short snippets of speech on a tablet computer.
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Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Hikma Pharmaceuticals PLC 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.
Heparin Sodium Injection in a ready-to-use syringe is the first product using Hikma's new injectable manufacturing capability LONDON , Sept. 17, 2019 /PRNewswire/ -- Hikma Pharmaceuticals PLC (Hikma, Group) ...
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LONDON and SALT LAKE CITY, July 23, 2019 /PRNewswire/ -- Hikma Pharmaceuticals PLC (Hikma, Group) (HIK.L) (NASDAQ Dubai: HIK) (HKMPY) (rated Ba1 Moody's / BB+ S&P, both stable), the multinational generic pharmaceutical company and Civica Rx (Civica, Inc.) today announce a five-year agreement to manufacture and supply Civica's growing membership of US health systems with medications that are often in short supply in US hospitals. Under the agreement, Hikma will produce 14 essential sterile injectable medications for Civica as a private label distributor, using Hikma's Abbreviated New Drug Applications (ANDAs) and Civica's labeling and National Drug Code (NDC).
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LONDON, May 30, 2019 /PRNewswire/ -- Hikma Pharmaceuticals PLC (Hikma) (HIK.L) (NASDAQ Dubai: HIK) (HKMPY), (rated Ba1 Moody's / BB+ S&P, both stable) today announced its venture capital arm Hikma Ventures has participated in an $11 million financing round for Boston-based Pillo Health. The Series A round, led by Stanley Black & Decker's corporate venture capital arm with participation from Samsung Ventures and existing investors BioAdvance, Hackensack Meridian Health System's Innovation Center Fund and Civilization Ventures, will be used to drive growth and innovation as Pillo Health builds out its voice-enabled medication and care management platform for home use. "Our investment in Pillo Health underscores our deep commitment to developing innovative healthcare technology solutions that will put better health within reach for more patients around the world," said Lana Ghanem, Managing Director Hikma Ventures.