|Bid||104.13 x 1000|
|Ask||104.21 x 800|
|Day's Range||103.83 - 105.17|
|52 Week Range||89.01 - 122.97|
|PE Ratio (TTM)||9.61|
|Beta (3Y Monthly)||1.53|
|Expense Ratio (net)||0.47%|
Shares of Ideaya Biosciences Inc. soared in its public debut, then pared most of its gains, biotechnology company focused on cancer treatments debuted as the broader stock market slumped. The first trade in Ideaya's stock was at $14.00 at 10:57 a.m. Eastern, 40% above the $10 initial public offering price. The stock was last 9.9% above the IPO price at $10.99. Meanwhile, the iShares Nasdaq Biotechnology ETF was down 1.3%, the Renaissance IPO ETF was shedding 2.3% and the S&P 500 was losing 1.7%. The company sold 5 million shares in the IPO to raise $50 million, as the IPO pricing implied a market capitalization of about $194.8 million. The company recorded a net loss of $34.3 million and no sales in 2018, compared with a 2017 loss of $11.9 million on no revenue.
Shares of Outlook Therapeutics Inc. rocketed on heavy volume in premarket trade Monday, putting them on track to nearly triple in three days, in the wake of the biotechnology company's upbeat update on a drug trial and bullish analyst report. The stock 27% ahead of the open on premarket leading volume of 4.2 million shares, after running up 37% on volume of 76.7 million shares on Friday and after soaring 68% on 51.7 million shares on Thursday. On Wednesday, the stock had closed at 91 cents. On Thursday, Oppenheimer analyst Leland Gershell started coverage of Outlook with an outperform rating and $12 stock price, and the company said two phase 3 studies remain on track with its plan to submit its monoclonal antibody therapeutic product for regulatory approval in 2020. The stock had still lost 78.1% over the past three months through Friday, while the iShares Nasdaq Biotechnology ETF has lost 6.6% and the S&P 500 has gained 4.4%.
Shares of Outlook Therapeutics Inc. rocketed 38% in very active morning trade Friday, putting them on track to more than double in two days. Volume ballooned to 17.6 million shares, enough to make the stock the most actively traded on the Nasdaq exchange. The biotechnology company's stock had run up 68% on Thursday on trading volume of 51.7 million shares, after closing Wednesday at a record low of 91 cents, after Oppenheimer analyst Leland Gershell started coverage with an outperform rating and $12 stock price target. Outlook is investigating a formulation of a treatment of wet age-related macular degeneration. Outlook's stock was still down 47% year to date, while the iShares Nasdaq Biotechnology ETF has gained 7.9% and the S&P 500 has advanced 14%.
Get ready, bargain shoppers. Foamix (FOMX) has plummeted 27% since the beginning of the year and it looks like the stock received more lashes than it deserved -- at least, according to Wall Street analysts.2019 is poised to be a transformative year for Foamix. The company's acne treatment FMX101 is currently pending regulatory review in the U.S, and a PDUFA date of October 20, 2019 has been set. Furthermore, Foamix plans to submit a New Drug Application (NDA) for FMX103 during mid-2019, following positive long-term safety data in papulopustular rosacea patients. Now, let's take a closer look at what analysts are expecting ahead of October's FDA decision.FMX101's Approval Chances and ForecastsCredit Suisse analyst Vamil Divan sees a high likelihood of regulatory approval for FMX101, applying a 90% probability of success (POS). The analyst rates FOMX stock an Outperform with a $9.00 price target, which implies nearly 250% upside from current levels. With an FDA approval in hand (100% POS), Divan says his price target will be boosted to $11.00. According to the analyst, "an increase in the sample size (1,507 patients in this trial vs. ~500 each in the two prior trials) and improved site selection and training helped drive statistically significant [clinical] results," which put the company on track to win FDA approval.Similarly, H.C Wainright analyst Ram Selvaraju estimates the probability of regulatory approval at 85%, and assigns a $12.00 price target for the stock. If the price target is reached within 12 months, that would provide a 12-month return of nearly 360%. Selvaraju opined, "We believe that the current valuation situation presents an attractive entry point for value-focused investors, given the fact that Foamix currently trades about 2x book value [...] Our risk-adjusted net present value (rNPV) of FMX101 is $400M, which factors in an 85% probability of regulatory approval [...] We have employed a sum-of-the-parts valuation approach that yields a total projected firm value of $696M, which translates into a price objective of $12.00 assuming ~59M fully-diluted shares outstanding as of end-2019."Commercial Opportunity Selvaraju believes investors seem to be discounting both FMX101 and FMX103 from a commercial standpoint, but "this is unwarranted." Why? "These agents are based on well-known, validated and effective compounds in their respective target indications and have generated statistically significant efficacy data in large, robustlypowered pivotal studies. We also draw investors' attention to the large size and underserved nature of the target markets—namely, acne and rosacea—and the willingness of patients and physicians alike to try new formulations when they are introduced. Furthermore, we point to the user-friendly and well-tolerated nature of the Foamix formulations, which utilize the company's proprietary foam-based delivery technology to enhance efficacy while minimizing off-target systemic side effects," Selvaraju answers.Cowen analyst Ken Cacciatore has recently spoken with 3 dermatology KOLs; they all agreed that "the clinical data were as good or better than they would have expected," and, according to the analyst, one has indicated that "it looked "more impressive" than Aczone (which peaked at over $200MM+ before genericization)." Cacciatore believes that given the wide use of oral minocycline, clinicians are eager to have this option with potential similar efficacy yet without the the systemic side effects, and therefore, the marketing of FMX-101 should be a very easy story to tell. The analyst says "FMX-101 should be able to easily surpass the peak prescription levels of Aczone (via our consultants' feedback)," and "this would place FMX-101 to achieve at least $250MM in revenue." Furthermore, the analyst believes FMX-101 could ultimately reach his target of $350MM given what he believes will be "improved efficacy/outcomes." Cacciatore argues that "even undifferentiated dermatology assets are selling at 3x peak revenue. Using just FMX-101 alone – and the low-end ($250MM) of what we believe will be the ultimate product size – would yield a value of $750MM, or $13-15 per share."Bottom lineFoamix has seen its shares struggle mightily this year, but analysts continue to believe that this beaten-down biotech stock is a sure-fire winner. Analysts are confident that lead asset, FMX101, has substantial potential in treating acne, with an upcoming October 20, 2019 PDUFA date as a key potential positive catalyst for FOMX shares.This latest pullback has arguably skewed the risk-to-reward ratio for the better -- perhaps making FOMX an attractive buy for risk-tolerant investors. 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Even though they’ve been around since the early 1990s, Exchange-Traded Funds (ETFs) only started to gain real traction a decade ago. In the aftermath of the financial crisis, many investors moved into ETFs as a way of minimizing their risk and being able to control their portfolios easily. Another use of ETFs, by contrast, is […]
The FDA's latest guidelines outlined the studies a company making a biosimilar — a copycat version of the pricey biologic — should conduct to obtain the interchangeable designation. A biologic can cost up to hundreds or thousands of dollars for some chronic conditions. "This guidance is intended to assist sponsors in demonstrating that a proposed therapeutic protein product is interchangeable with a reference product for the purposes of submitting a marketing application or supplement," the FDA said.
While we can research the family tree for these health issues, it’s been difficult to know for sure what could happen — until now. Because of breakthroughs in human genome mapping, we can now get a clear line of sight on what diseases are coming our way — and the insights are only getting better.
Let's take a sneak peek at some ETFs having high exposure to some impactful biotechnological companies on the release of Q1 earnings results.
With sector weakness since early April shaving 8%-10% off the iShares NASDAQ Biotechnology ETF (IBB) and the SPDR S&P Biotech ETF (XBI) for example, potential takeover targets in fact are now more attractive. Large pharma and biotech companies need to build out their product pipelines, and many have the buying power to make acquisitions. "The appetite for M&A is still high," says Jared Holz, of the healthcare sector trading desk at Jefferies.
Biotech stocks bucked the broader market uptrend in April, thanks to the volatility associated with the sector. Some of the catalysts that drove stocks include clinical trial readouts, capital raising ...
Axcella Health Inc. disclosed Tuesday that it set terms for its initial public offering (IPO), in which the biotechnology company could be valued at up to $505.7 million. The company is offering 3,571,428 shares in the IPO, which is expected to price between $20 and $22 a share, to raise up to $78.6 million. If the underwriters exercise all the options granted to buy additional shares to cover overallotments, the company could raise up to $90.4 million. The company, which develops novel "multifactorial interventions" to address dysregulated metabolism, said there will be 22,988,359 shares outstanding after the IPO. The stock is expected to list on the Nasdaq under the ticker symbol "AXLA." Axcella reported a net loss of $36.1 million in 2018, after a loss of $30.9 million a year ago. The company had no revenue in 2018 or 2017. The company is looking to go public at time that Renaissance IPO ETF has rallied 35% year to date, while the iShares Nasdaq Biotechnology ETF has gained 11% and the S&P 500 has advanced 17%.
Gilead investors have had their patience tried lately. While the company’s peers tracked by the (XBI) and the (IBB) (IBB) have enjoyed double-digit gains year to date, along with the broader market, Gilead stock is up an anemic 4.2% since the start of the year. Gilead still earns plenty of analyst praise, and new leadership has sparked some enthusiasm.
A proposal to expand Medicare and eliminate private insurance in the U.S. pummeled health care stocks recently. Portfolio Manager Andy Acker and Research Analyst Rich Carney explain what it means for investors. Key Takeaways A recent proposal to ...
For the last few weeks, healthcare stocks have been hit hard. This is not from any fundamental fault of their own, but rather from political rhetoric. Both Republicans and Democrats alike want to punish them as we near another round of elections. But therein lies the opportunity.Source: Jon Fingas via Flickr (Modified)The politicians can inflict harm on the stock price of Intuitive Surgical (NASDAQ:ISRG), for example, but eventually, the Profit and Loss statement will win over the fear mongering. After all this is a company that has been delivering phenomenal results for years and will continue to do so for more to come.But for now, the stock price is falling, so I consider this trade tactical from the sense that I'd be catching a falling knife. Usually I don't like to be the hero, but in this case, I am confident in Intuitive Surgical's long-term prospects, so I don't mind turning this trade into an investment.InvestorPlace - Stock Market News, Stock Advice & Trading TipsTherefore, I can buy the shares outright here going into earnings. If they sell it off on Monday, then I would add to my stake once they hit the right levels to do that. ISRG Stock by the NumbersFundamentally, Intuitive Surgical stock is not cheap. It sells at a 56 trailing price-to-earnings ratio and 16 times sales. But it is a growth stock, so for now I don't worry too much about the margin. When the company matures and starts to stagnate, then I'll judge it more on profitability. * 5 Dividend Stocks Perfect for Retirees The stock recently had a full correction (as Wall Street defines the term) as it fell more than 10% in mere days. Luckily, it did so from a fresh all-time high. In February, ISRG broke out into a bullish pattern, and true to its form, the stock filled the entire target. I've seen this happen in this stock many times before, so this is a chart that respects technical formations.To that point, ISRG broke down from the very sharp rising wedge ahead of the earnings. This resulted in taking out a lot of recent froth from the recent rally. This was an inevitable scenario, but one that doesn't change the bullish thesis. It is merely short-term price action where traders booked fast profits going into a binary event.So in theory I can go long the shares ahead of tonight's earnings report. But doing so would leave me vulnerable to a short term dip from the coin flip event. So it's best to take the position in tranches -- one today and the next I can add to it next week. This would leave me room to average my entry cost lower, so I can hold the stock with better conviction.The options markets provide other ways to trade the stock. One is to limit the out-of-pocket expense and replace the stock purchase with that of June calls or call spreads. But unlike the stock, the risk there is that time becomes my enemy. To profit with calls, I would need the move to happen soon, else I risk losing money even if the stock doesn't fall.That is why I prefer to sell downside risk into what others fear. Wednesday, ISRG stock fell 6.5% so I could sell the April 26 $455 put to collect $2 per share. The money goes into my account now, and if ISRG stays above that level then I created income out of thin air. Otherwise, I would break even at $453 per share.For a longer-term trade, I would sell the July $400 put, which would create the opportunity to profit $4 per contract while leaving me a 23% buffer from the current price. In return, I commit to buying shares at $400 if the price falls through that level between now and July. In that case, I don't start losing money until $396 per share.So this drop in ISRG stock does not change its long-term outlook. This is normal price action that is part of any breakout. The bulls have to retest the necklines from which they broke out to make sure they are solid enough to take the next leg higher.After the recent correction ISRG lags the S&P 500 for 2019, but year-to-date it is still a super star stock. In the past 12 months, ISRG stock is up almost three times more than the S&P. Moreover, it corrected because of the negative sentiment against all healthcare stocks.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 * 5 Dividend Stocks Perfect for Retirees * 7 Reasons the Stock Market Rally Isn't Over Yet * 10 S&P 500 Stocks to Weather the Earnings Storm Compare Brokers The post Intuitive Surgical Stock Is Down but Not Out appeared first on InvestorPlace.
Shares of Mustang Bio Inc. blasted off to a near 4-fold gain (up 257%) in premarket trade Thursday, after the biopharmaceutical company said it entered a licensing agreement with St. Jude Children's Research Hospital to develop the lentiviral gene therapy for the treatment of "bubble boy" disease (XSCID) for commercial use. Data from a phase 1/2 clinical trial evaluating the safety and efficacy of a lentiviral vector to transfer a normal copy of the IL2RG gene to bone marrow stem cells in newly diagnosed infants under the age of two with XSCID, showed that bone marrow harvest, busulfan conditioning and cell infusion were well tolerated, all patients cleared previous infections and are growing normally and most patients were discharged from the hospital within one month. "The results have been very good thus far," said Ewelina Mamcarz, assistant member at St. Jude. "We've been able to restore a full immune system pretty quickly." Mustang Bio's stock, which is on track to open at a 1-year high, was down 9.5% year to date through Wednesday. In comparison, the iShares Nasdaq Biotechnology ETF has gained 9.0% and the S&P 500 has advanced 15.7%.
Investing in biotech companies requires a lot of faith and courage. It is not easy to risk assets into a stock on faith that their research will deliver viable results. This clearly makes ImmunoGen (NASDAQ:IMGN) a momentum stock. This makes it difficult to trade because on the way down, it seems headed to zero. But therein lies an opportunity.Source: Shutterstock While the iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) has been flirting with all-time highs for months, IMGN stock has fallen off a cliff. This year, the IBB is up 14% while IMGN is down 44% for the same period. It is now as close to its lows as the sector is to its highs.Clearly there is little hopium left in the stock price. Buying it here resembles a lotto ticket. I emphasize the word bet, as this is definite more gambling than investing.InvestorPlace - Stock Market News, Stock Advice & Trading TipsHowever, buying a stock with a cheap sticker price like IMGN doesn't mean it is cheap from a valuation perspective. Meaning that even though the stock has a $2.70 face value, I could still lose 100% of my money. So, How to Play IMGN StockIf I already own the shares, it's probably too late to sell them now, but that also depends on the investor time-frame and thesis on IMGN. Adding new positions here would require me to have new information to do it with conviction. This chart is too ugly for me to buy without inside information or new fundamental reasons to expect a rebound.This is a knife that I don't want to catch for an investment thesis. But there is room for speculation in some portfolios, so I understand the attraction to bet on better days to come for IMGN stock. * 7 Mid-Cap Stocks to Find the Market's Sweet Spot Those looking to gamble on a rebound need to plug their nose and take small position. Or better yet, use the options markets to buy calls or call spreads. There, I could make it a small investment with a huge upside percentage gain. Options offer a much bigger bang for the buck than buying the underlying equity outright.After this year's February cliff, ImmunoGen stock is coming into the earnings event next month from rock bottom. Half of the Wall Street expert analysts still rate the stock as a buy with an average price target that is more than double its current value. So they must still see value in holding on to the shares for now. While this alone is not a reason to buy the shares, clearly these analysts have reasons for sticking with their optimistic outlook even as though price approaches zero.I never assume that I am catching absolute bottoms in any stock I trade, so I don't take a full-sized position. Since clearly IMGN stock is not a viable investment thesis yet, any long position here is more hopium than conviction. So I would keep the size small so that it doesn't break the heart or the piggy bank.ImmunoGen stock has been trending down for five years, so there is no reason to assume it can flip on a dime. Moreover, the equity markets in general are also near all-time highs, so it's likely that IMGN stock could have more macroeconomic downside pressure from a correction.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 Internet Stocks to Watch * 7 AI Stocks to Watch with Strong Long-Term Narratives * 10 Dow Jones Stocks Holding the Blue Chip Index Back Compare Brokers The post ImmunoGen Stock Is in Trouble Going Into Earnings appeared first on InvestorPlace.
Bio-Path Holdings Inc.'s stock rocketed 48% in morning trade Monday, after the biotechnology company focused on cancer treatments filed to withdraw a common stock offering. Volume was 4.3 million shares, already more than half the full-day average of about 5.7 million shares. The company said in a filing late Friday that it submitted its request for withdrawal because it "elected to not pursue the sale of securities," and confirms that no securities were sold or will be sold. On March 12, the company said it had agreed with several institutional investors to sell 712,910 shares of common stock for $25.95 each. That would have represented a 28% increase to the 2.51 million shares outstanding as of March 15. On Jan. 18, the company effected a 1-for-20 reverse stock split. The stock has run up nearly 7-fold year to date (563%), while the iShares Nasdaq Biotechnology ETF has gained 14% and the S&P 500 has climbed 15.6%.
Axcella Health Inc., a Cambridge, Mass.-based biotechnology company, has filed for an initial public offering. The company has applied to list its shares on the Nasdaq Global Market under the ticker symbol "AXLA," while using place-holder amount of $86.25 million for the value of the proposed IPO. The company focuses on developing "multifactorial interventions" to address dysregulated metabolism. Axcella recorded a net loss of $36.1 million in 2018, after a loss of $30.9 million in 2017. The joint book-running managers of the IPO are Goldman Sachs, J.P. Morgan and SVB Leerink. The company is looking to go public at a time the Renaissance IPO ETF has rallied 32.6% year to date, the iShares Nasdaq Biotechnology ETF has climbed 16.0% and the S&P 500 has advanced 15.2%.
Having exposure to trending areas like Robotics & AI, e-commerce and IoT, Global X is set to gain from the booming genomics market with the GNOM ETF.
Last year's extreme sentiment fears have abated and now the equity markets are back near all-time highs. This includes stocks like AstraZeneca (NYSE:AZN) as it set a new high late last month. From that standpoint, this is not an obvious entry point into AZN stock, but whether you should buy the stock also depends on a few other factors.Source: Shutterstock Those who want to own AZN shares for the long term can afford to ignore short-term downside risk. But for most other investors who prefer to start an ownership position into a stock in the green should be slightly more surgical than just jumping in at any time.AZN stock is on a tear up 11% in 12 months. But the company will report earnings on April 26 and those events are wild. So this makes buying the stock now a short-term binary bet. Reactions to earnings scorecards are usually more to do with expectations than the actual value of a stock.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBefore you label me a hater, my caution for AstraZeneca stock here is not a dis against the company itself or its prospects. I am merely concerned with buying into a stock that is not likely to fall soon thereafter. Looking back on its prior reactions to earnings, they are split. * 10 Dow Jones Stocks Holding the Blue Chip Index Back Last quarter, the stock spiked drastically on the results, which left a giant open gap in the chart. Although this does not happen all of the time, Wall Street usually likes to fill these gaps.Since the spike to all-time highs, AZN stock has been drifting lower and testing recent support. If it loses $40 per share, it risks triggering a bearish pattern that would close the gap below. Although this is not a forecast, it is a scenario that could unfold here and investors need to be aware of it.The good news is that $39 per share is a mid-term pivot level and those tend to lend support on the way down. These are zones that the bulls and bears find interesting, so they will fight it out and create price congestion. How to Approach AZN Stock NowSo far my reservation to owning the shares immediately has been technically based. Fundamentally, AZN stock is not cheap as it sells at a price-to-earnings ratio of 47. This is more than three times as expensive as Bristol-Myers Squibb (NYSE:BMY) and twice as expensive as Apple (NASDAQ:AAPL) … to draw absolute and relative comparisons, respectively.Moreover, healthcare and biotech stocks are back in the sights of the political rifles. This is the only current bipartisan consensus topic. Both Democrats and Republicans want to vilify and persecute the drug companies. The rhetoric of both sides involves bringing legislation that would bring down the price of medicine and change the current Health Care Act. * 7 Vulnerable Stocks to Watch On Brexit News and Trade Wars These are nervous times on Wall Street. The S&P 500 has been on an extended run since the December crash and that makes investors nervous. Almost everyone I hear in the media suggests that traders are ready to sell at the first sign of trouble. So the prevailing idea is that we've come too far too fast. For some reason, they didn't say that on the way down, when last year we fell even faster and farther.But for now, we have to respect the collective and be cautious. This is not an obvious time to load up on new positions of AZN stock, even if it means I would miss out on a few upside dollars if it rips. And for those who already own AstraZeneca stock, it's not an alarm to sell out of the position. Furthermore, the options markets offer many ways I can temporarily defend my shares by selling covered calls or buying puts. Doing both would be a dollar neutral strategy.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 * 10 Medical Marijuana Stocks to Cure Your Portfolio * 8 Best Stocks to Buy for an April Rally * Top 20 Stocks to Buy for 20-Somethings! Compare Brokers The post Is AstraZeneca Stock Worth Buying Before Earnings? appeared first on InvestorPlace.
Shares of Concert Pharmaceuticals Inc. took a sharp afternoon dive Monday, after the biopharmaceutical company said the patent trial and appeal board found that the claims of the patent on its alopecia areata treatment CTP-543 were "not patentable." The stock, which was little changed in afternoon trade just prior to the announcement, plunged 17% toward a 2-year low after the announcement. The company said the decision was appealable to the U.S. court of appeals. "While we're disappointed in this outcome, we believe we have strong arguments supporting the validity of our patent and intend to appeal the decision as we work to create additional intellectual property protecting CTP-543," said Chief Executive Roger Tung. In April 2017, Incyte Corp. had filed a petition challenging the validity of the patent on CTP-543. Incyte's stock slipped 0.1%. Over the past 12 months, Concert's stock has tumbled 43%, Incyte shares have rallied 29%, the iShares Nasdaq Biotechnology ETF has climbed 13% and the S&P 500 has gained 11%.
Democrats and Republicans on the House Energy and Commerce Committee signaled Wednesday that they had reached deals on some bills that target soaring drug prices.
Shares of Advaxis Inc. plummeted 25% to pace all premarket declines Wednesday, after the biotechnology company's public offering of shares priced at a deep discount. The company said its offering of 2.5 million shares to the public priced at $4.00 a share, or 32% below Tuesday's split-adjusted closing price of $5.90. A 1-for-15 reverse stock split went into effect on March 29. The company expects proceeds of about $10 million from the offering, which it intends to use to fund research and development of its product pipeline. Advaxis is focused on the development of immunotherapy products. The share offering comes after the stock has more than doubled year to date through Tuesday (up 107%), but has plunged 76% over the past 12 months. In comparison, the iShares Nasdaq Biotechnology ETF has gained 17% year to date and the S&P 500 has advanced 14%.