|Bid||76.27 x 900|
|Ask||76.26 x 1400|
|Day's Range||75.97 - 77.35|
|52 Week Range||64.78 - 86.30|
|Beta (3Y Monthly)||0.69|
|PE Ratio (TTM)||14.15|
|Forward Dividend & Yield||2.83 (2.95%)|
|1y Target Est||97.00|
Roche's (RHHBY) performance in the first quarter of 2019 is driven by solid strength of new drugs, which more than offset competition from biosimilars.
Ionis Pharmaceuticals was slammed Wednesday on competitive gene-therapy data from Novartis' AveXis unit and amid apparently disappointing comments from Roche in Huntington's disease.
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks hitting 52-week highs on April 16) Eidos Therapeutics Inc (NASDAQ: EIDX )(reported fourth ...
Alnylam (ALNY) initiates phase III study on lumasiran and also reports new positive efficacy results from the ongoing phase II open-label extension (OLE) study on the same.
Radius Health's (RDUS) lead drug, Tymlos, gains traction in 2018. Let us see how the drug will fare in 2019 amid increasing competition.
Allergan's (AGN) key drug, Restasis' prospects hurt as the U.S. Supreme Court upholds the ruling of a lower court, which invalidated certain patents protecting the drug.
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks hitting 52-week highs on April 15) Amneal Pharmaceuticals Inc (NYSE: AMRX ) Biohaven ...
Alnylam (ALNY) reports complete positive results from the phase III ENVISION study of givosiran for the treatment of acute hepatic porphyria.
Newly spun off from Novartis, the eye-care giant has strong growth potential and is better off as an independent company.
Glaxo (GSK) gets FDA approval for a new HIV medicine, Dovato. AstraZeneca (AZN)/Merck's (MRK) Lynparza gets approval in EU for metastatic breast cancer.
Ophthotech (OPHT) obtains development/commercialization rights to AAV gene-therapy program for BEST1-related retinal diseases from Penn and UFRF.
Novartis' (NVS) Sandoz signs an agreement with Japanese company, Shionogi, to commercialize constipation drug in key European markets.
Increasing M&A deals, growing AI dominance and favorable regulatory tidings continue to accelerate the biotech market. Accordingly, ETFs with exposure to the sector continue to shine.
Intercept Pharmaceuticals (ICPT) reports positive additional supportive data from its phase III REGENERATE study of obeticholic acid in patients with liver fibrosis due to NASH.
Canadian-based marijuana company Cronos (NASDAQ:CRON) soared earlier this year, but Cronos stock is falling back to earth as the frenzy dies down.Source: Shutterstock The rise in CRON stock mostly is attributable to interest from Altria (NYSE:MO). The owner of veteran cigarette brands Marlboro, Parliament, and Virginia Slims got into the game with a $1.8 billion investment in Cronos.At the time of transaction, Altria's $1.8 billion investment translated roughly to a 45% ownership of Cronos with warrants to own up to 55% of the company, which Altria has the option to exercise anytime in the next four years.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 8 Risky Stocks to Watch as Earnings Season Kicks Off Altria's controlling interest in Cronos takes place on the heels of two high-profile investments in marijuana stocks in 2018. Constellation Brands (NYSE:STZ), the maker of Corona and Modelo beer, was arguably the first-mover in sealing a deal for a 38% stake in Canopy Growth (NYSE:CGC).Late in the year, it was Switzerland-based Big Pharma company, Novartis (NYSE:NVS) that threw its hat in the cannabis ring, announcing a partnership with Tilray (NASDAQ:TLRY).As the above transactions show, suitors interested in investing in the cannabis sector run the gamut. From alcoholic beverage companies to large pharmaceutical companies and now to Big Tobacco. Many industries are already feeling the initial wave of marijuana legalization across certain states within the U.S. impact sales.Amidst declining sales, Altria was left then, with no choice but to get on the bandwagon. CRON Stock Hits the Big TimeLooking closer at the data though, in Altria's case there seems to have been a case of FOMO (fear of missing out). To begin with, publicly-traded cannabis companies on major U.S. are a recent novelty. Before, Canadian-listed marijuana stocks that wanted to appeal to the broader U.S. investor base were relegated to over-the-counter exchanges. This change has made these cannabis investments more palatable for shareholders.Because U.S. exchanges like the New York Stock Exchange and tech-focused NASDAQ will not list companies that break U.S. federal law, U.S.-based cannabis companies find themselves at a disadvantage in raising capital compared to their northern counterparts. Marijuana is legal in Canada, so as long as these Canadian-based marijuana companies stick to operating there, they aren't violating any laws in the jurisdictions they operate in. While U.S. companies salivate over the kinds of money and high valuations that Canadian companies have gotten, the fact is that I can see a future in which U.S. competitors in the space no longer have to go to the Canadian TSX to raise money. Once they are able to list on U.S. Exchanges, companies interested in the cannabis space will have a larger pool of partners to choose from.Potentially, these partners will generate more synergies as well given their knowledge and scale within the domestic market.Before that future comes to pass, however, Altria may have felt that it was a do or die situation. MO seemed like to would be willing to pay any amount to get a toehold in the rapidly-growing cannabis sector. Altria Overpays for CRON StockWith CGC and TLRY already off the market, Altria jumped for CRON.There are certainly synergies across Altria's core business with cannabis than with beer. Still it is hard to justify paying a price to sales multiple of 267x (compare that to CGC's 86x).If we look at a less conventional metric: market capitalization to kilograms of cannabis sold, it gives an idea of the comparatively stratospheric valuation that Altria paid.Last fiscal year, CRON sold 2,737 kilograms of dry cannabis. Using an estimated price of $15 per share from when Altria announced the deal late last year and March of this year when they closed the deal and outstanding shares of 333 million, a market cap figure emerges of $5 billion. Do the division and Altria paid an estimated $1.8 million per kilogram of cannabis sold. Sound high?Doing the same exercise with CGC while adjusting for an earlier timeframe since the acquisition closed last year, I use trailing twelve months kilograms sold of 9,750 and 177 million outstanding shares. The result is $545,000 market capitalization/kilogram, less than a third of what Altria paid for CRON. The Final Word on CRON StockRight now, there are a lot of projects underway that will decide if the CRON investment is ultimately accretive. There is the much-touted supply agreement with Cura Cannabis Solutions, for example.Remember though, this five year take-or-pay supply agreement to purchase a minimum of 20,000 kilograms of cannabis per annum from Cronos can only take place after Cura receives all necessary licenses from Health Canada.There's also the potential 120-acre facility in Australia that is under review. If completed, the expected annual production capacity is 2,000 kilograms. And let's not forget the 850,000 sq. ft. Ontario-based greenhouse that is expected to have a 70,000 kilograms capacity.Overall, this is probably still a net positive for Altria shareholders as they'll benefit from the growth profile and exposure to cannabis. The price tag, however, will be hard to justify if CRON stock doesn't deliver on its growth projections.As of this writing, Luce Emerson did not hold a position in any of the aforementioned securities. 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 Here's the Real Problem with Altria Overpaying for CRON Stock appeared first on InvestorPlace.
The spinoff provides a valuable framework to value Bausch Health’s Bausch+Lomb, one which shows the inherent upside to a separation of the businesses, Mizuho analyst Irina Koffler says.
According to the GuruFocus All-in-One Screener, the following companies have high dividend yields but performed poorly over the last 12 months. Wells Fargo & Co.'s (WFC) dividend yield is 3.57% with a payout ratio of 38%. Over the last 52 weeks, the share price has fallen 7%.
The aging population will also be a boon to the company, thanks to the incidence of cataracts in older people. Warning! GuruFocus has detected 1 Warning Sign with BE. Alcon had been part of Novartis (NVS) since 2011, when it was acquired for $12.9 billion.
Amgen announced late Tuesday the FDA approved Evenity, chemically romosozumab-aqqg, for treating osteoporosis in postmenopausal women at high risk of breaking a bone. Evenity is a monoclonal antibody that blocks the effects of the protein sclerostin and works by increasing new bone formation. The large-cap biotech said it is the first and only bone-builder with a unique dual effect of increasing bone formation and to a lesser extent reducing bone loss, thereby rapidly reducing the risk of fracture.
Cannabis-focused wholesale management platform LeafLink recently released its most recent quarterly report with updates, insights and trends the company observed and gathered in the first quarter. "With CBD now legal in 31 states, we’ll begin to see more pharmaceutical companies approaching cannabis companies for strategic partnerships.