111.38 -0.02 (-0.01%)
After hours: 4:27PM EST
|Bid||111.38 x 900|
|Ask||111.57 x 800|
|Day's Range||111.29 - 112.58|
|52 Week Range||89.01 - 122.97|
|PE Ratio (TTM)||10.28|
|Beta (3Y Monthly)||1.46|
|Expense Ratio (net)||0.47%|
Shares of Anchiano Therapeutics Ltd. was on track to close below its initial public offering price on its debut, bucking the gains in its Nasdaq biotechnology peers and the broader stock market. The stock's first trade was at its IPO price of $11.50 at 10:02 a.m. Eastern, and that was the highest price it traded. The Israel-based biotechnology company's stock fell as much as 8.3% below its IPO price, at the intraday low of $10.55, but has pared some losses to be down 6.4% in recent trade. Meanwhile, the iShares Nasdaq Biotechnology ETF was up 0.9% in afternoon trade while the S&P 500 was rallying 1.3%.
Israel-based Anchiano Therapeutics Ltd. said Tuesday said the initial public offering of American Depositary Shares had priced at $11.50 each. With the biotechnology company is offering 2,652,174 ADS to raise $30.5 million, and could raise up to $35.1 million if options granted to underwriters are exercised. The company had previously said it assumed an initial public offering price of $14.55 per ADS. The stock is expected to begin trading Tuesday on the Nasdaq Capital Market under the ticker symbol "ANCN." The company's lead underwriters are Oppenheimer and Ladenburg Thalmann. The company is going public at a time that iShares Nasdaq Biotechnology ETF has gained 3.7% over the past three months through Monday and the Renaissance IPO ETF has rallied 7.8%, while the S&P 500 has slipped 0.6%.
Shares of newly public biopharmaceutical company Alector Inc. opened just shy of its initial public offering price, before swinging slightly higher in morning trade. The first trade was at $18.70 for about 542,000 shares at 10:39 Eastern, which was 1.6% below the $19 IPO price. The stock was last trading 0.5% above its IPO price. The stock is listed on Nasdaq under the ticker symbol "ALEC." The company has gone public at a time when the iShares Nasdaq Biotechnology ETF has lost 2.1% over the past three months, while the Renaissance IPO ETF has gained 1.2% and the S&P 500 has declined 3.6%.
The bullish news triggered a minor uptick that reversed at range resistance in place since an October 2018 breakdown, but thin pre-market volume may not reflect buying and selling power after the opening bell. Biotech stocks have struggled since 2015 when Valeant Pharmaceuticals and Turing Pharmaceuticals provoked nationwide outrage and price gouging charges that eventually lead to Martin Shkreli's imprisonment and Valeant's rebranding as Bausch Health Companies Inc. (BHC).
Is AbbVie an Attractive Buy after Q4 2018 Results?Share price movements On January 25, AbbVie (ABBV) closed at $80.54, which is 6.22% lower than its previous closing price. The steep drop came as a reaction to the company’s Q4 2018 and fiscal 2018
Shares of Amgen Inc. were down 1.4% in premarket trade Monday after the company was downgraded to in-line from outperform by Evercore ISI, with analyst Umer Raffat citing patent concerns. Amgen stock's strong performance since 2011 has largely been due to a delay in biosimilar competition, Raffat said in a note to investors, but that is no longer the case. A court decision on Amgen's biggest drug, Enbrel, is imminent, and a biosimilar by Novartis's Sandoz already has tentative approval, Raffat said. Shares of Amgen have gained 2.1% in the year to date through Friday, while the iShares Nasdaq Biotechnology ETF has gained 13.5%. The S&P 500 has gained 6.3%.
Shares of MacroGenics, Inc. gained 4% on Friday after the company announced that the U.S. Food and Drug Administration had lifted a partial clinical hold on its Phase 1 studies of a potential monoclonal antibody-based cancer treatment, allowing researchers to continue enrolling new patients in the U.S. In December, MacroGenics announced that the FDA had placed the studies on partial clinical hold after the company reported kidney-related adverse events in some subjects. During the hold, researchers were not allowed to enroll new patients, but previously-enrolled participants were allowed to continue receiving the drug. Shares of MacroGenics have fallen 6.5% in the year to date through Thursday, while the iShares Nasdaq Biotechnology ETF has gained 13%. The S&P 500 has gained 6.4%.
In 2018, instead of getting a Santa Claus rally we got a December rout. Stocks cratered into Christmas, and Intuitive Surgical (NASDAQ:ISRG) fell 20% in as many days. Luckily, its investors know the value of the company so it made a complete recovery in about the same amount of time. The dip was not specific to ISRG since the iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) stock had a similar path for the same period of time. After the sharp recovery, Intuitive Surgical came into last night's earnings report perfectly set up for a dip. The stock had a lot of momentum -- perhaps too much. Regardless of the quality of the report, it was almost destined to fall on the news simply from the technical aspect. First the impressive "V" recovery usually needs back-and-fill sessions before bulls can continue higher. Furthermore, ISRG stock had reached a level which had been prior failures five times before within the last 12 months. There is no shame in falling in order to reload another leg higher. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Last night management reported earnings, and investors hated what they saw. The stock fell 5% on the headline. I bet that fans of the stock will not be shy about buying the dip. It will be a matter of time. If the stock markets are higher then so will Intuitive Surgical stock. ### Where ISRG Stock Stands This is a stock I'd own for the long term. There might be short-term pain, but the trajectory is clear up and to the right. Dips in ISRG are opportunities to add or start a position in it. * 5 of the Best Stocks to Buy and Hold for the Long Term So management missed on earnings expectations, but delivered double-digit growth on almost everything else. This does not make for a bad quarter. If anything it was probably a bad forecast. Even then, missing earnings is usually an easy fix. They can find the culprit line item and fix it going forward. This is not the same as saying that there is a structural problem with the company that will linger going forward. From a price action perspective, there is benefit from having a recent sharp correction. It gives us a floor against which we can gauge new risk. In this case, a 5% after-hours dip brings it close to support levels. From a trading perspective, $515 per share area is the point of interest for the last two months. This means that both bulls and bears agree on it, so they will fight it out. This creates congestion which on the way down translates into support. Even if that fails, there are more support levels below, all the way down to $480 per share. Long-term holders of the stock should be comfortable inside those ranges. Intuitive surgical stock will need the help of the market in general. The macroeconomic environment is still in headline mode. We have political rhetoric and tariff headlines littering the ticker tapes. So it is entirely possible that we will revisit the February lows one more time if politicians continue their verbal combat. But even if we do, that will also be a buying opportunity -- and a better one than this recovery that is ongoing in 2019. Companies are still making a lot of money and their balance sheets are healthy. This is not 2008 and we do not have bubbles. Yes, we are close to all-time highs, but we did that on good solid fundamentals. So far companies are reporting strong results and the mega-caps will continue their headlines next week. Except for a few questionable ones, most are likely to deliver good news. So dips will be bought, and that means that ISRG stock will find it easier to shrug any short term negativity. Fundamentally speaking, this company has value. It sells at trailing-12-months price-earnings ratio of 51, according to Zacks. While this sounds high, it is not bloated for a company that delivers growth. For perspective, it is more expensive than Alphabet's (NASDAQ:GOOG, NASDAQ:GOOGL) 25 P/E, but cheaper than, say, Chipotle (NYSE:CMG) at 63X. So although not cheap, there is not a lot of froth to shed. Even though Wall Street's knee-jerk reaction last night meant that they did not approve of the report, management still delivered double-digit growth on almost all metrics. So they have a solid base on which to continue building future ISRG business. There aren't a lot of competitors in the field, and this one has established a strong foothold, making it difficult to circumvent. I bet that they will be able to continue to successfully execute on plans for years to come. This is a stock to own now but since we have so many threats still in the news and deadlines looming through March, it's probably best to build a position in tranches. This way I would have room to add to it in case there is another leg lower. A 5% fall after hours it's not a deal-breaker for a stock like Intuitive Surgical. The analysts on Wall Street agree as most of them have it as a stock to "buy," and it is still trading below their average price target. I doubt that this report they delivered last night is ugly enough for them to change their ratings. Click here for a bonus video on how to create income from nothing using FedEx(NYSE:FDX) stock as an example. Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. You can follow him as @racernic on Twitter and Stocktwits. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Semiconductor Stocks to Buy Now * 10 of the Best Stocks to Invest In for February * 5 Top Stocks for a FOMO Rally Compare Brokers The post Intuitive Surgical Stock Dips Are Buying Opportunities appeared first on InvestorPlace.
The U.S.-listed shares of NuCana PLC shot up 17% in premarket trade Friday, after the Scotland-based biopharmaceutical company said it was withdrawing its proposed offering of American Depositary Shares (ADS). The withdrawal comes a day after the shares plummeted 19.5% to a 1-year low, after the announcement of a $75 million ADS offering. "The company believes it is not in the best interest of its shareholders to raise equity capital in the current market environment," NuCana said in a statement Friday. The stock has tumbled 30.1% over the past three months through Thursday, while the iShares Nasdaq Biotechnology ETF has gained 3.7% and the S&P 500 has slipped 2.3%.
Shares of Rigel Pharmaceuticals Inc. shot up 9% in premarket trade Wednesday after the company announced it had entered a license and supply agreement with Spain-based Grifols, S.A. to commercialize fostamatinib disodium hexahydrate, its treatment for thrombocytopenia in adult patients. It is commercially available in the U.S. under the brand name Tavalisse. Under the terms of the agreement, Rigel will receive a $30 million upfront cash payment, with a potential $297.5 million in payments upon reaching certain regulatory and commercial milestones. That figure includes a potential $20 million payment upon the European Medicines Agency approving fostamatinib for the treatment of chronic idiopathic thrombocytopenic purpura (ITP). Rigel will also receive royalty payments based on tiered net sales, which the company said could reach 30% of net sales. In return, Grifols will receive exclusive rights to fostamatinib in Europe and Turkey. However, if fostamatinib has not been approved by the EMA for the treatment of ITP by 2021, Grifols will have the option to terminate the entire agreement, the companies said, and Rigel will have to pay Grifols $25 million to regain all rights to fostamatinib in Europe and Turkey. Rigel shares have fallen 12% in the year to date through Tuesday, while the iShares Nasdaq Biotechnology ETF has gained 12.7%. The S&P 500 has gained 5%.
Shares of Editas Medicine, Inc. plummeted 21% on Tuesday after the company announced that Chief Executive and President Katrine Bosley would be stepping down from her role, effective March 2019. Bosley also resigned from the company's board of directors, but will continue in an advisory role until the 2019 to facilitate a smooth transition, the company said. Cynthia Collins, a member of the company's board and former CEO of Human Longevity Inc., will serve as interim chief executive officer while the company searches for a permanent CEO. Bosley joined Editas as CEO in 2014, after working as an entrepreneur in residence at the Broad Institute and helming Avila Therapeutics, which was acquired by Celgene Corporation , as CEO. Shares of Editas Medicine, which develops therapies using the gene-editing technology Crispr, have fallen 9% in the year to date, while the iShares Nasdaq Biotechnology ETF has gained 12.8%. The S&P 500 has gained 5.5%.
Shares of Ultragenyx Pharmaceutical Inc. rose 2.9% in premarket trade Tuesday after the company announced positive results from a safety and efficacy study looking at a treatment for patients with long-chain fatty acid oxidation disorder. Patients with this disorder are unable to properly break down fatty acids into energy, leading to serious liver, muscle and heart issues. Researchers looked at how Ultragenyx's drug, UX007, affected 75 patients, including 29 from a previous UX007 Phase 2 trial showing that UX007-treated patients had fewer illness-related visits to the hospital and fewer days in the hospital per year. The safety and efficacy study reaffirmed those results, also showing a reduction in the median number of hospital visits and days in the hospital per year among those treated with the drug. Ultragenyx said it is still on track to submit a new drug application for UX007 in mid-2019. Shares of Ultragenyx have gained 22.7% in the year to date through Friday, while the iShares Nasdaq Biotechnology ETF has gained 14.6%. The S&P 500 has gained 6.5%.
Shares of Lipocine Inc. rocketed 49% toward a one-year high in very active premarket trade Thursday, after the pharmaceutical company reported upbeat interim results of a study of its treatment for non-alcoholic steatohepatitis (NASH). Volume ballooned to 3.2 million shares, compared with the full-day average of about 88,500 shares, and enough to make the stock the most actively traded ahead of the open. The company said its LPCN 1144 NASH treatment showed an "absolute mean reduction" from baseline of 7.6% liver fat and deomonstrated a 38% relative mean liver fat reduction from baseline. The responder rate, in which at least a 4.1% absolute reduction in liver fat from baseline was experienced was 86%. The study showed that LPCN 1144 was well tolerated. "We are very encouraged by these results especially as the observed liver fat reductions are the largest of any well-tolerated oral product candidate within approximately eight weeks," said Chief Executive Mahesh Patel. The stock has run up 18% over the past three months through Wednesday, while the iShares Nasdaq Biotechnology ETF has lost 5.3% and the S&P 500 has shed 6.9%.
Shares of biotechnology stocks as represented by the popular iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) have rallied close to 25% off their Dec. 24, 2018, lows. The charts in multiple time frames now suggest this move is overdone for the time being and that a mean-reversion trade to the downside is likely. Biotechnology stocks and the IBB ETF are often used as a risk-on/risk off trading vehicle by traders, meaning that if they think the broader stock market may ascend they will buy the IBB ETF for some extra leverage. The 25% rally over the past three weeks in my eye can at least in part be attributed to this type of trader positioning. Another reason for the sharp bounce was two acquisitions within this space over the past two weeks, which further got the bullish spirits going. InvestorPlace - Stock Market News, Stock Advice & Trading Tips While those near-term catalysts likely surprised many bears, what has not changed despite the squeeze higher is how the IBB ETF looks on the bigger-picture charts. ### IBB ETF Charts Click to Enlarge Moving averages legend: red - 200 week, blue - 100 week, yellow - 50 week Zooming out on the multiyear weekly chart, we see that the IBB ETF made a clear overshooting top in 2015. After a sharp mean-reversion move lower into early 2016 these stocks found support at the green line and began to find footing again. By September/October of 2018, however, these large-capitalization biotech stocks made a notable lower high versus their 2015 highs as the broader U.S. stock market began to sell off. * 10 Growth Stocks With the Future Written All Over Them As a result of the q4 weakness, the IBB ETF broke below its longer-standing technical support line (green line). At the same time, all of its intermediate term moving averages (50-, 100- and 200-week) are now sloping lower and will likely soon provide a tremendous amount of overhead resistance. Click to Enlarge Moving averages legend: red - 200 day, blue - 100 day, yellow - 50 day On the daily chart, we see that the recent rally has pushed the IBB ETF right back up to its 100- and 200-day simple moving averages, which also coincides with simple diagonal resistance. The daily MACD momentum oscillator at the bottom of the chart is also getting near-term overbought. On Wednesday, IBB attempted to break above this layer of technical resistance but was quickly rejected. Active investors and traders could look to enter into a short position in the IBB ETF around the $109-$110 area. A next downside profit target is $102 and a stop loss at $112. Get FREE ACCESS to Serge's renowned Stock Market Scanner with actionable trade ideas. Get it HERE. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * Top 10 Global Stock Ideas for 2019 From RBC Capital * 10 A-Rated Stocks the Smart Money Is Piling Into * 5 Best Bank ETFs for This Week's Earnings Avalanche Compare Brokers The post Trade of the Day: The Biotechnology Stocks ETF Is Running Out of Steam appeared first on InvestorPlace.
Aptinyx Stock Plunged 70% after Clinical Trial FailureStock performanceToday, Aptinyx (APTX) is trading at $5.26, which is a ~70.5% decline from yesterday’s closing price of $17.83. Also today, Aptinyx hit a 52-week low of $5.02. The company hit
Shares of Aptinyx Inc. fell 67% in premarket trade Wednesday after the biotech company announced that the phase 2 study of its treatment for painful diabetic peripheral neuropathy did not meet its primary endpoint. The therapy, NYX-2925, did not show a significant difference in patients' daily pain scores compared to placebo, Aptinyx said. The company said it is also conducting an exploratory phase 2 study of NYX-2925 in patients with fibromyalgia, and said a full analysis of the data should be available in the first half of 2019. Shares of Aptinyx have gained 7.8% in the year through Tuesday, while the S&P 500 has gained 4.1%. The iShares Nasdaq Biotechnology ETF has gained 13.3%.
Sarepta Therapeutics (NASDAQ:SRPT) started 2019 with very high volatility. After spiking to around $125 a share on Jan. 7, SRPT stock gave up those gains when markets took in the developments in its DMD pipelines and its Exondys 51 fourth-quarter sales outlook. Although shares rebounded from December 2018 lows, should biotech stock investors seriously consider investing in this company? At the J.P. Morgan conference, Sarepta said it will run 45 biopsies this quarter for SRP-4045. This is an investigational compound that treats DMD or Duchenne muscular dystrophy patients with mutations in the DMD gene. The drug works by directing cells, through Sarepta's PMO, to skip exon 45 when processing RNA. The dystrophin protein is shortened but is still synthesized, slowing the negative symptoms of DMD. If the biopsies are positive, Sarepta will file a marketing application, setting up a possible approval date of early 2020. InvestorPlace - Stock Market News, Stock Advice & Trading Tips ### SRPT's Sales Outlook SRPT stock volatility rose after the company issued its revenue outlook for Exondys 51. In the fourth quarter ended Dec. 31, 2018, it made $84.4 million in revenue from sales of Exondys 51. For 2018, revenue was around $301 million. It ended that same period with a healthy balance of $1.1 billion in cash. * 10 Key Emerging-Market Stocks to Buy for Contrarian Investors Markets reacted negatively to the outlook because it expected quarterly revenue of $85.8 million. The barely $2 million difference is a rounding error and the market quickly realized it. Quarterly revenue is in line with forecasts. As markets rebounded, taking the iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) up 11.5% on the week, SRPT stock also rose the same amount (11%). Sarepta's global growth plans should lower the risks of relying solely in one market: "We continue to build our international presence with limited infrastructure but dedicated colleagues in Latin America and Europe and a managed access program or MAP now live in some 44 countries. We should continue to see modest contribution from our MAP throughout 2018 with increasing contribution in 2019 and beyond." Source: SA Transcript ### Impressive Talent at Sarepta Sarepta highlighted the 25 programs in RNA and gene therapy underway. Its staff talent consists of over 500 professionals. This leading gene therapy team could deliver on bringing 3 RNA-therapies by 2020. It may potentially treat 30% of the DMD market. Historically, the team is showing that it is delivering. FY 2018 revenue nearly doubled to $301 million, up from the 2017 revenue of $154.6 million. ### Investing Opportunity Sarepta is a top five rare disease company by market cap. Only Alexion Pharmaceuticals (NASDAQ:ALXN), BioMarin Pharmaceutical (NASDAQ:BMRN) and Vertex Pharmaceuticals (NASDAQ:VRTX) are bigger. SRPT stock is underperforming compared to its peers. While the other firms' stock price traded closer to its 52-week highs after the market rally in the last few days, Sarepta is still around 33% below its yearly high. Wall Street coverage gained steam in the last few days. The company received over five "buy" calls, with a price target ranging from $161 to as high as $267. Analyst Firm Position Price Target Date Debjit Chattopadhyay H.C. Wainwright Buy $267.00 yesterday Salveen Richter Goldman Sachs Buy $191.00 2 days ago Matthew Harrison Morgan Stanley Buy $161.00 2 days ago Brian Skorney Robert W. Baird Buy $202.00 2 days ago Alethia Young Cantor Fitzgerald Buy $217.00 2 days ago Yun Zhong Janney Montgomery Buy $200.00 2 days ago Brian Abrahams RBC Capital Buy -- 3 days ago Martin Auster Credit Suisse Buy $189.00 3 days ago Tim Chiang BTIG Buy $190.00 13 days ago Source: tipranks ### Investment Suitability Like with all biotech companies in the discovery phase, SRPT is volatile and risky. Any FDA approval delays could disappoint markets, sending the stock lower. Clinical study costs could rise, but in Sarepta's case, the company has plenty of cash on hand. It is unlikely to need a cash raise through a share sale. * 7 Stocks to Buy That Are Run By Billionaires ### Bottom Line on SRPT Stock Sarepta Therapeutics stock benefited from the latest rebound in biotechnology stocks, but could move even higher in the longer term. It has a goal of commencing its confirmatory trial with commercial material this year. Given the strong team, doctors and scientists involved, chances are good that the trial, which has 24 patients, goes well and will bring positive results. As of this writing, Chris Lau did not hold a position in any of the aforementioned securities. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks You Can Set and Forget (Even In This Market) * 10 Virtual Assistants for the Future of Smart Homes * 7 5G Stocks to Buy as the Race for Spectrum Tightens Compare Brokers The post Why Sarepta Therapeutics Stock Is Starting to Shine Again appeared first on InvestorPlace.
Biotech just saw a big rally, and market experts believe the sector could have more room to run.
Three Healthcare Stocks Rallying Over 10% Today ## Three healthcare stocks The broader market is trading in the green territory today but largely on a mixed note compared to the volatility in the previous couple of sessions. At 11:40 AM ET, the S&P 500 Index (SPY), NASDAQ Composite Index (QQQ), and Dow Jones Industrial Average were trading with 0.8%, 1.1%, and 0.6% gains. However, some healthcare stocks (XLV)(VHT)(IBB) were making huge moves today. Let’s take a look. ## Loxo Oncology Today before the market opened, the American pharmaceutical giant Eli Lilly and Company (LLY) announced the acquisition of Loxo Oncology (LOXO). According to the agreement between the two companies, Eli Lilly will acquire Loxo for $235.00 per share in cash, which translates into approximately $8.0 billion. After the news came out, Loxo stock surged nearly 66.0% to $232.12. ## Sage Therapeutics The biopharmaceutical firm Sage Therapeutics (SAGE) revealed positive results of the Phase 3 ROBIN Study today. The outcome of the study suggested a “significant improvement” in women with postpartum depression (or PPD) who were treated with its SAGE-217 drug for two weeks. This news boosted investors’ confidence, and SAGE stock surged 62.1% to a day high of $158.09. ## Exact Sciences The molecular diagnostics firm Exact Sciences (EXAS) said today that it expects its fourth quarter of 2018 revenue between $142.5 million and $143.5 million, which reflected about a 64% rise in its revenue from the fourth quarter of the previous year. In a press release, the company said that it “completed approximately 292,000 Cologuard tests during the fourth quarter of 2018,” up about 66% year-over-year. Plus, Exact Sciences noted, “Nearly 15,000 health care providers ordered Cologuard for the first time during the fourth quarter of 2018.” These positive developments drove EXAS stock to rally today to post a day high of $72.78, up 11.0% from its previous session’s closing price. Note that in 2018, LOXO, LLY, and EXAS rose 66.4%, 37.0%, and 20.1%, respectively, while SAGE fell 41.8%.
Shares of Sage Therapeutics Inc. shot up 44% in active early-afternoon trade, after the Massachusetts-based biopharmceutical company said its treatment for postpartum depression (PPD) met the primary and secondary endpoints of a phase 3 trial. Trading volume swelled to about 3 million shares, compared with the full-day average of about 463,000 shares. The company said patients treated with SAGE-217 30 milligrams had a "statistically significant improvement" in the Hamilton Rating Scale for depression when compared with placebo, and was generally well tolerated. Separately, the company said it will provide updates on key 2019 initiatives, including drug milestones expected in the next 12-to-18 months, when it is scheduled to present last Tuesday at the J.P. Morgan Healthcare Conference. The stock has still declined 17% over the past 12 months, while the iShares Nasdaq Biotechnology ETF has slipped 2.9% and the S&P 500 has lost 6.5%.
A biotech breakout. The Apple effect. And do ETFs really cause volatility? With CNBC's Bob Pisani, Dave Nadig, ETF.com and Doug Yones, New York Stock Exchange.