118.23 0.00 (0.00%)
After hours: 4:00PM EDT
|Bid||118.00 x 1200|
|Ask||118.69 x 800|
|Day's Range||117.47 - 118.36|
|52 Week Range||100.22 - 119.30|
|PE Ratio (TTM)||4.11|
|Expense Ratio (net)||0.47%|
Pfizer (NYSE:PFE) was the target of a Presidential tweet tantrum Monday over its second price hike of the year but investors shrugged it off.
Biotech ETFs rallied Friday after Biogen (NasdaqGS: BIIB) announced successful results from its Alzheimer’s drug trial. On Friday, large-cap biotechnology sector ETFs lead the charge. The iShares Nasdaq ...
Biogen (NASDAQ:BIIB) is the hot stock of the moment thanks to success in a trial of an Alzheimer’s drug. Progress on Alzheimers makes Biogen stock worth at least a look, right? Both follow the so-called “amyloid hypothesis,” the idea that reducing amyloid plaques using monoclonal antibodies can reverse the disease.
MARKET PULSE Exchange-traded funds that track the biotechnology sector jumped on Friday, supported by a huge gain in industry bellwether Biogen, which climbed after a positive drug trial. The iShares Nasdaq Biotechnology ETF (IBB) jumped 2.
First Trust NYSE Arca Biotechnology Index Fund and iShares Nasdaq Biotechnology ETF look like two ways to catch the rally in Biogen.
Pfizer (NYSE:PFE) is a pharma/biotech dinosaur. This stock is a survivor of decades of stock market turmoils and corrections. It currently sits on a potential long-term technical breakout point on the monthly chart.
Are shares of Celgene Corporation (NASDAQ:CELG) finally bottoming? Without news flow for the stock to react on, it’s hard to confirm whether the peak-to-trough drop of 49.6% in CELG stock is over or if more losses are still to come. Celgene is far from perfect.
Axovant Sciences (AXON) is a clinical-stage biopharmaceutical company. The company’s stock price jumped ~160.0% to the closing price of $4.55 on June 6 due to several factors. Axovant Sciences stock price has increased by ~137.0% in the last three trading sessions.
President Donald Trump is keeping pharmaceutical execs, lobbyists and investors on their toes. “[The notice] is consistent with his administration's ‘bully pulpit’ strategy of cajoling the drug makers into industry-led changes to drug pricing,” Height analyst Andrea Harris said in a note.
While so doing, some of the larger biotech names in the space, such as Amgen, Inc. (NASDAQ:AMGN), broke past key near-term technical resistance. This now sets up bullish trades for AMGN stock. Each time I discuss a biotechnology stock in this column I must also point out that these stocks, even the large ones, can be volatile and prone to sharp price movements in either direction.
Wall Street analysts expect the company to see a 40.9% rise in revenue to $459.8 million in Q2 2018. Incyte’s stock price has fallen nearly 51.7% over the last 12 months and nearly 29.6% in 2018 year-to-date. Wall Street analysts’ recommendations show a 12-month target price of $81.0 per share compared to its price of $66.67 per share on May 24.
The summer of 2015 marked the end of the glory years in the biotechnology sector. The biotech valuation correction that lasted over two years may be coming to an end. Some well-known, large-cap names — such as AbbVie Inc (NYSE:ABBV) and Pfizer Inc. (NYSE:PFE) — are currently trading at forward P/E multiples in the 10+ range.
Biotech stocks turned higher on May 11 after President Trump outlined a series of steps the administration might take to control skyrocketing drug prices. The lack of details triggered a relief rally underpinned by skepticism that the initiatives will pass Congress and their deep reliance on industry contributions.
Ionis Pharmaceuticals’ (IONS) Spinraza (nusinersen) is an FDA-approved drug designed for the treatment of spinal muscular atrophy, a type of severe motor-neuron disease in pediatric patients and adults. Biogen (BIIB), which has held the worldwide development and commercialization rights for Spinraza since January 2012, forwards royalties to Ionis.
Abiomed’s (ABMD) net income has grown at a three-year and five-year average of 95.1% and 120.4%, respectively. The company’s pre-tax margin grew from 10.7% in 2013 to 20.5% in 2017. ABMD beat the medical device industry and the S&P 500 between 2013 and 2017. The market cap gained 680% between 2013 and 2017.
On May 17, Amgen (AMGN) stock rose ~0.5% to the closing price of $174.65 per share following FDA approval of Aimovig. The company’s stock price has risen ~2.3% in the last week following recent drug approvals. Amgen’s stock price has risen ~11.2% over the last 12 months.
The ability to sell new drugs hinges on approvals from government bodies such as the Food and Drug Administration (FDA). As a result, biotech companies, and to some degree, large drug companies, go into business ventures without the certainty of ever earning revenues, let alone profits. Biotech stocks often become some of the most difficult to evaluate.
Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) stock has been decimated over the years. This morning the stock is rallying on the news that the famed investor Warren Buffett doubled his stake in Teva stock. Wall Street loves to chase Buffett’s investments.
On Friday, stocks digested the big rally over the past week, with many names trading in a rather tight range. That’s something we haven’t seen in a while, with markets more volatile in 2018 vs 2017. In any regard, here are the top stock trades we’re watching for this week.Top Stock Trades for Monday #1: Nvidia (NVDA)
Trump's plan to lower drug prices does not call for the one move many experts believe would be most effective: A new law that would allow Medicare to negotiate with pharmaceutical providers.