81.91 0.00 (0.00%)
After hours: 6:50PM EDT
|Bid||81.15 x 1800|
|Ask||81.99 x 800|
|Day's Range||81.01 - 82.00|
|52 Week Range||52.83 - 82.12|
|Beta (3Y Monthly)||0.41|
|PE Ratio (TTM)||35.31|
|Earnings Date||Apr 30, 2019|
|Forward Dividend & Yield||2.20 (2.70%)|
|1y Target Est||85.52|
In a nearly 200-page presentation calling for investors to reject Bristol-Myers Squibb’s proposed acquisition of Celgene released on Monday, activist hedge fund Starboard Value called Celgene’s pipeline of new drugs “unproven.
How Major Pharmaceutical Stocks Are Positioned This Month(Continued from Prior Part)Analysts’ recommendations and target price Wall Street analysts expect an upside potential of 5.13% for Merck & Co. (MRK) stock based on the company’s closing
A new GlaxoSmithKline subsidiary is developing another cancer-fighting drug that it believes could go toe-to-toe with the current market leader, Merck’s blockbuster drug Keytruda.
Roche (RHHBY) gets an FDA approval of sBLA for Tecentriq in combination with chemotherapy for the first-line treatment of extensive-stage small cell lung cancer (ES-SCLC).
Today, I'd like to discuss the outlook for AbbVie (NYSE:ABBV), the $116-billion-market-cap biopharmaceutical stock, whose shares have been in a downtrend for almost a year and have especially been hammered following its earning report of Jan. 25.Source: Shutterstock * Top 7 Service Sector Stocks That Will Pay You to Own Them There could be further price volatility and weakness in the ABBV stock price in the coming weeks, pushing it toward the low-$70's or even mid-$60's level. However, it is a company with robust growth prospects and respectable dividends that may deserve a place in a diversified portfolio.Therefore, if you already own AbbVie shares, you might want to hold your position. That said, within the parameters of your portfolio allocation and risk/return profile, you may consider placing a stop loss at about 5-7% below the current price point. Expect nearer-term trading to be choppy at best.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIf you are an experienced investor in the options market, you may want to protect your portfolio with a covered call or possibly a put option spread with a 3-month time horizon. If you do not yet hold ABBV, you may want to wait several weeks to buy into the stock at the next dip.With all of that in mind, here's a deeper look into at AbbVie stock. A Hiccup in the Robust Fundamental StoryIn 2013, Abbott Laboratories (NYSE:ABT) spun off its research-based pharmaceuticals business, creating AbbVie, an independent biopharmaceutical company. Abbott decided to retain the branded generic pharmaceuticals, diagnostics, medical devices and nutrition.Meanwhile, AbbVie took control of the development and commercialization of a range of brands, including Humira, its flagship drug used to treat autoimmune diseases, Imbruvica, which differentiates between cancer cells and regular cells, and Synthroid, a replacement for a hormone normally produced by the thyroid gland.The company's financials and growth metrics over the past five years have been impressive and ABBV was in a strong financial position heading into 2019, with hopes of a higher share price during the first quarter.However, in January, AbbVie's fourth-quarter earnings release weighed heavily on the stock. For starters, the company missed the consensus on revenue. Its earnings per share of $1.90 was below the expected number of $1.94. The next day, the stock fell by 6% and that decline has intensified over the past two months.ABBV's quarterly report also showed that the international sales of Humira fell by almost 15% year over year, mostly as a result of 'biosimilar' competition in Europe, which makes up three-quarters of the overseas Humira business. In October 2018, its patent in the European Union (E.U) expired.The U.S. Food and Drug Administration (FDA) refers to biosimilars as "highly similar to an FDA-approved biological product … [that has] no clinically meaningful differences in terms of safety and effectiveness." Although Wall Street had already known about this sales decline in Europe, when coupled with the other question marks in the earnings report, it was enough to increase the selling pressure on the stock.It is also possible that investors got worried about the potential fall in Humira revenue when the drug comes off patent in 2023 in the U.S. It is important to emphasize that AbbVie's revenue from the drug will not decline to nothing when the biosimilars hit the market in 2023. What will most likely happen is that as the company's pricing power decreases, the revenue will also gradually decline.Therefore, many analysts feel that ABBV shares offer value and that any bad news that is specific to Humira is already baked into the stock price. Value PlayWhen markets penalize biopharma stocks, it can take some time for them to recover. However, for patient long-term investors, the returns can be significant -- especially when the company boasts several other current drugs, as well promising ones in the pipeline.At present, AbbVie's other major products include: * AndroGel, a testosterone replacement therapy. * Creon, a pancreatic enzyme therapy to treat exocrine pancreatic insufficiency. * Duopa and Duodopa, gels to treat Parkinson's disease. * Viekira Pak, which treats chronic hepatitis C. * Zinbryta, to treat multiple sclerosis.Analysts are also expecting a slew of new products in 2020, such as next-generation immunology drugs. These drugs and others that are being developed and commercialized, highlight how impressive the potential growth story could be in the next few years.ABBV trades at a trailing price-to-earnings (P/E) ratio of 21. This number is rather modest when compared with the P/E ratios of several competitors, including AstraZeneca (NYSE:AZN) with a P/E of 49.9, Pfizer (NYSE:PFE) with a P/E of 25.2, and Merck (NYSE:MRK) with a P/E of 34.8. Reinvesting the Sweet Dividend Yield of ABBV stockIncome investors know that they can compound their returns through reinvesting dividends from high-yielding shares. AbbVie also offers investors a healthy dividend yield of about 5.4%, another reason why I believe the stock belongs in a capital-growth portfolio.Since its spin-off from Abbott Laboratories in 2013, ABBV has increased dividends every year -- a trend that is likely to continue. The next dividend payment is scheduled for May 15, 2019, with an ex-dividend date of April 12.It would not be wrong to call AbbVie a cashflow machine; as of Dec. 31, the company had a free cash flow of $3.27 billion. This strength not only gives shareholders conviction that the dividends are safe, but also provides the company with enough flexibility to, for example, make acquisitions to offset any further Humira revenue decline (especially in the U.S. when the drug comes off patent in 2023). The Bottom Line on AbbVie StockLike most biopharma stocks, AbbVie is a high-momentum stock. In other words, when the broader markets go up or when the company's earnings beat expectations, both investors and momentum traders tend to hit the "buy" button fast, expecting superior gains within days or weeks.However, if markets suffer a decline or if the company cannot keep up with the rising expectations, investors' risk appetite decreases fast and these stocks can fall much harder than less volatile stocks. * 7 Financial Stocks to Invest In Today The market has punished Abbvie stock since the start of the year. The stock may continue to struggle through much of 2019. However, patient ABBV bulls will probably be proven right to believe in the management's commitment to create shareholder value and to further grow the company both organically and through acquisitions. In the meantime, they can continue to collect high dividends.As of this writing, Tezcan Gecgil did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Financial Stocks to Invest In Today * 7 Single-Digit P/E Stocks With Massive Upside * 5 Chip Stocks on the Rise Compare Brokers The post Why You Should Buy ABBV Stock for Income and Value appeared first on InvestorPlace.
Swiss drugmaker Roche Holding AG's U.S. unit Genentech said on Monday its immunotherapy Tecentriq won approval for a tough-to-treat type of lung cancer, the latest win for the drug whose sales trail medicines from Merck & Co and Bristol-Myers Squibb. The U.S. Food and Drug Administration (FDA) approved Tecentriq plus chemotherapy for untreated extensive-stage small cell lung cancer (SCLC), after a study showed patients getting the drug cocktail lived a median 12.3 months, compared to 10.3 months for those getting chemotherapy alone, Genentech said in a statement.
WILMINGTON, Del., March 18, 2019 -- Rigrodsky & Long, P.A.: Do you own shares of Immune Design Corp. (NASDAQ GM: IMDZ)?Did you purchase any of your shares prior to.
New Treatment Option Now Available in Canada for Newly Diagnosed Patients with Advanced Lung Cancer
Merck (MRK) receives approval for Keytruda's combo therapy for first-line treatment of metastatic squamous non-small cell lung cancer population in Europe.
U.S. stock futures are flirting with unchanged this morning as the market seeks to extend its gains for the fourth day in a row.The S&P 500 is once again probing critical resistance at $2,820. This marks the sixth such test since October and a successful break will signal a major victory for bulls.Against this backdrop, futures on the Dow Jones Industrial Average are down 0.02% and S&P 500 futures are higher by 0.02%. Nasdaq-100 futures have added 0.09%.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn the options pits, call volume jumped yesterday, helping to drive overall volume to above-average levels. Specifically, about 20.3 million calls and 15.6 million puts changed hands on the session.Meanwhile, at the CBOE the single-session equity put/call volume ratio skidded to a lowly 0.52 which is just shy of a new low for 2019. The 10-day moving average held steady at 0.65.Let's zero in on three hot stocks landing atop the options most-actives list. Aurora Cannabis (NASDAQ:ACB) soared after the company announced a strategic partnership with activist investor Nelson Peltz. Roku (NASDAQ:ROKU) suffered a 14% thrashing after being downgraded by Loop Capital and Macquarie. Finally, Merck (NYSE:MRK) options were hot ahead of its quarterly dividend date.Let's take a closer look: Aurora Cannabis (ACB)Aurora Cannabis scored the highest-volume session of its life yesterday after reporting Nelson Peltz was joining the company as a strategic advisor. In the press release, ACB stated Peltz will "work collaboratively and strategically to explore potential partnerships that would be the optimal strategic fit for successful entry into each of Aurora's contemplated market segments." * 7 Winning High-Yield Dividend Stocks With Payouts Over 5% Investors expressed their excitement over the news by bidding ACB stock to a new four-and-a-half month high at $9.07. The 13.9% daily gain saw over 133 million shares change hands on the session. The surge officially completes the bullish cup-and-handle pattern that had formed in the stock and tees it up for a run back toward its record high of $12.53.The enthusiasm was on full display in the options pits where calls dominated the day. Activity rocketed to 459% of the average daily volume, with 214,940 total contracts traded. 85% of the trading came from call options alone. Roku (ROKU)A double dose of downgrades took ROKU shares out at the knees yesterday, upending what was otherwise one of the best trends on the Street. The stock entered the day up 131% on the year and a stone's throw from new all-time highs.Saddened shareholders seeking someone to blame can cast their eyes to Loop Capital and Macquarie. Analysts at both firms downgraded the red-hot stock, citing stretched valuations.The cold water tossing was bound to happen at some point. Even with starry-eyed growth projections, it's hard to justify such a blistering pace in ROKU stock's ascension. Its price chart was begging for a pullback, and the downgrades were all the excuse needed for profit-fattened traders to ring the register.Given the bevy of support zones looming beneath, I suspect this dip will prove buyable.On the options trading front, puts slightly outpaced calls. Activity grew to 329% of the average daily volume, with 208,637 total contracts traded. Puts added 51% to the day's tally.Implied volatility zoomed higher on the day to 62%, placing it at the 33rd percentile of its one-year range. Premiums are now pricing in daily moves of $2.38, or 3.9% Merck (MRK)The past year has brought numerous new highs to Merck shares, proving once again the value of betting on trend continuation. At $81.60, the pharmaceutical giant ended Wednesday a pebble toss away from record territory.While MRK stock ended with a doji candle amid an otherwise lackluster trading session, its options were on fire ahead of today's ex-dividend date. Traders holding the stock by yesterday's close will have rights to the looming 55 cent dividend payout. All-in, Merck boasts an annual dividend yield of 2.71%.Saavy traders used call options to snatch up shares of stock and have rights to the dividend. Total activity ballooned to 576% of the average daily volume, with 147,033 total contracts traded. A whopping 96% of the trading originated with calls.Implied volatility remains subdued at 15%, or the second percentile of its one-year range. Premiums are pricing in daily moves of 76 cents, or 0.9%.As of this writing, Tyler Craig didn't hold a position in any of the aforementioned securities. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 15 Stocks Sitting on Huge Piles of Cash * The 10 Best Stocks to Buy for the Bull Market's Anniversary * 7 Dividend Stocks With Big Yields Compare Brokers The post Thursday's Vital Data: Aurora Cannabis, Roku and Merck appeared first on InvestorPlace.
European Approval Based on KEYNOTE-407 Study Results Demonstrating Significant Improvement in Overall Survival with KEYTRUDA in Combination with Chemotherapy Compared to Chemothera
Lilly's (LLY) cancer drug, Cyramza, in combination with erlotinib significantly delays disease progression in a phase III study on previously untreated patients with EGFR-mutated metastatic NSCLC.
Despite many politicians, particularly declared presidential candidates, beginning to speak out against big pharma, an FDA medical adviser does not think that anything will come out of it “because Congress is owned by pharma.”
German's BionTech, Europe's largest unlisted biotech firm by staff numbers, has hired banks to prepare for an initial public offering (IPO) as early as this year, people familiar with the plan told Reuters. Bank of America and JP Morgan have been retained as global coordinators for the planned listing on the U.S. Nasdaq exchange some time in the fourth quarter or in early 2020, with a stock offering worth as much as $800 million, the sources said. Biontech, which has previously said it was eyeing a future public listing, did not immediately respond to a request for comment.
FRANKFURT (Reuters) - Merck KGaA on Tuesday reiterated its recommendation to shareholders of its takeover target Versum to reject the electronic materials maker's planned merger with peer Entegris. In ...
Merck & Co Inc NYSE:MRKView full report here! Summary * Perception of the company's creditworthiness is negative * ETFs holding this stock have seen outflows over the last one-month * Bearish sentiment is low Bearish sentimentShort interest | PositiveShort interest is extremely low for MRK with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting MRK. Money flowETF/Index ownership | NegativeETF activity is negative but appears to be improving. Over the last one-month, outflows of investor capital in ETFs holding MRK totaled $2.10 billion. However, outflows appear to be slowing. Economic sentimentPMI by IHS Markit | NeutralAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Healthcare sector is rising. The rate of growth is weak relative to the trend shown over the past year, however. Credit worthinessCredit default swap | NegativeThe current level displays a negative indicator. MRK credit default swap spreads are near their highest levels for the past 1 year, which indicates the market's more negative perception of the company's credit worthiness.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Pfizer's (PFE) application for Bavencio in combination with Inlyta for the treatment of advanced RCC gets validated by EMA.