|Bid||86.46 x 800|
|Ask||86.85 x 800|
|Day's Range||86.36 - 86.92|
|52 Week Range||73.54 - 95.00|
|Beta (3Y Monthly)||0.54|
|PE Ratio (TTM)||17.85|
|Forward Dividend & Yield||2.83 (3.26%)|
|1y Target Est||101.00|
Wareham Development built up the East Shore biotech real estate market. Now other players are making a splash with new projects and tenants.
Investors will focus on regular top and bottom-line numbers along with pipeline updates, when Novartis (NVS) reports third-quarter 2019 results.
Tilray (NASDAQ:TLRY), like other cannabis equities, continues to suffer from the effects of the bursting stock bubble. Tilray stock traded as high as $300 per share during the run-up in marijuana stocks, which preceded Canadian legalization in 2018. Since then, it has lost more than 92% of its value. This includes a nearly 35% drop in less than a week following its August earnings report.Source: Shutterstock To be sure, declines have hammered marijuana stocks across the board. Also, once the dust settles, the company holds key assets and partnerships that could eventually take TLRY stock higher.However, Tilray stock needs both changing sentiment and a more discernible path to stability before it can stem its decline.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Sector Selloff Hits TLRY StockTLRY trades at just over $22 per share. Despite this massive drop, TLRY stock still appears overvalued. Currently, it trades at about 24.3 times sales.In fairness, cannabis stocks have dropped across the board. Both Canopy Growth (NYSE:CGC) and Aurora Cannabis (NYSE:ACB) trade near 52-week lows. Moreover, companies such as Aphria (NYSE:APHA), which just beat earnings by 10 cents CAD per share, have also struggled. Many blame both changing sentiment against marijuana stocks as well as an oversupply of dried cannabis. * 7 Reasons to Buy Canopy Growth Stock In short, stocks that could do no wrong 18 months ago can now do no right. This bodes poorly for Tilray stock. InvestorPlace's Mark Hake even floated the possibility that TLRY could go bankrupt. Investors cannot write off that possibility as its reserves dwindle.TLRY holds about $180 million in cash. Since it lost $35 million in the last quarter, it can only maintain its current pace for so long. Moreover, Tilray cannot assume further debt will be an option. As of the previous quarterly report, the company held $430 million in long-term debt and $360 million in total equity. Hence, the financials indicate that the company may have to dilute its already beleaguered stock further when it comes time to seek more funding. TLRY Could Recover -- EventuallyDespite a bleak outlook and a lack of profits, investors still have reasons to keep watching Tilray stock. Much like the positive sentiment surrounding marijuana stocks did not last, investors should not assume the negative outlook will remain forever. When attitudes change, Wall Street may again pay attention to Tilray's attributes. Analysts forecast a 313.9% increase in revenue for this year. They also believe revenues will rise an additional 85.5% in fiscal 2020.Moreover, its partnerships and assets could eventually help TLRY. The company has partnered with a subsidiary of Novartis (NYSE:NVS) to distribute and sell branded medical cannabis products. It also entered into a joint venture with Anheuser-Busch InBev (NYSE:BUD) to research THC and CBD-infused beverages. Tilray also owns Manitoba Harvest, the world's largest hemp food manufacturer.This bodes well for continuing revenue growth. However, getting to the point where rising revenues can finally yield profits will probably lead to actions that place more strain on both the balance sheet and TLRY. Until the company can get to a place where it stops diluting Tilray stock, investors have little reason to buy. My Final Thoughts on Tilray StockTilray stock will struggle to move higher without improving its financials and without a more positive outlook from Wall Street on the cannabis sector. The bubble in TLRY continues to pop. The stock still appears pricey despite trading more than 90% below its all-time high. Sentiment has turned against marijuana stocks as losses continue and the industry contends with a glut in dried cannabis.Despite these obstacles, an eventual bullish scenario could develop for Tilray stock. It has built partnerships with established players in other industries. This could bode well for the Nanaimo, British Columbia-based firm as medicinal marijuana and cannabis-infused beverages find a market.However, for now, TLRY stock faces challenges as losses mount and liquid assets dwindle. Options for more funding will probably strain both the balance sheet and Tilray stock itself. For this reason, investors should probably brace for further near-term declines.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Reasons to Buy Canopy Growth Stock * 7 Restaurant Stocks to Leave on Your Plate * 4 Turnaround Plays to Buy Now The post Investors Beware: Tilray Stock Might Not Be Done Dropping appeared first on InvestorPlace.
Takeda Pharmaceutical Co. Ltd. is shedding dozens of products and an undisclosed number of employees in a $200 million deal. But the Japanese drugmaker is reviving plans to occupy Cambridge’s iconic Genzyme building.
Novartis' (NVS) phase III REACH2 study on Jakavi for treating patients with steroid-refractory acute graft-versus-host disease meets the primary endpoint of superior overall response rate.
Incyte Corp. shares rose 1.2% in premarket trade Wednesday, after the biotech said a late-stage trial of a treatment for patients with steroid-refractory acute graft-versus-host disease, or GVHD, met its main goal of improving overall response rate. Wilmington, Delaware-based Incyte said there were no new safety signals in the phase 3 trial evaluating ruxolitinib (Jakafi). GVHD is a condition that can occur after the transfer of stem cells from a donor when the donated cells trigger an immune response and attack the recipient's organs. "GVHD is a challenging and serious disease, and physicians around the world need access to therapies that can improve outcomes for patients," said Peter Langmuir, M.D., group vice president, targeted therapies, at Incyte. The trial, which is sponsored by Novartis as well as Incyte, continues with results expected to be presented in 2020. Incyte shares have gained 23.5% in 2019, while the S&P 500 has gained 19.5%.
Sanofi has invested $1.5 billion into expanding over the last five years as it competes with companies like new CEO Paul Hudson’s former company Novartis Corp.
Moody's Investors Service ("Moody's") has today assigned a B3 rating to Rossini S.a r.l.'s (Rossini or "the company") proposed issuance of EUR650 million worth of senior secured floating rate notes. Rossini is an entity holding an indirect majority ownership in Recordati S.p.A. (Recordati).
Progenics Pharmaceuticals, Inc. Pushed Through Questionable Merger with Votes from Directors Who Had Resigned Progenics Agreed to Large Termination Fee in Possible Move to Trap Shareholders in Deal Corporate Governance Expert Finds Termination Fee, Lame Duck Director Votes “Troubling” Stock Trading Above Offer Price, Suggesting Shareholders Want A Kiss or Deal Scrapped By John […]
FDA approves Novartis' (NVS) Beovu. J&J (JNJ) files sBLA for Stelara. Pfizer (PFE), Novo Nordisk (NVO) and Glaxo (GSK) announce collaboration deals.
NEW YORK, Oct. 09, 2019 -- Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Novartis AG.
Novartis gained Food and Drug Administration approval Tuesday for an eye-disease treatment called Beovu that could undercut Regeneron Pharmaceuticals' blockbuster medicine, Eylea.
Biogen strengthens existing efforts in multiple sclerosis and spinal muscular atrophy while making efforts to foray into other neuroscience areas. However, MS is a competitive space. Spinraza may soon face competition.
Novartis's anti-blindness medicine Beovu has become the latest eye drug to win U.S. Food and Drug Administration approval, giving the Swiss drugmaker a boost in the increasingly competitive market for eye problems among an ageing population. With the FDA's blessing, Beovu joins blockbuster predecessors Lucentis, which Novartis sells with Roche, and Eylea from both Bayer and Regeneron, in the AMD market.
How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]
The FDA approval of the self-administration option and auto-injector of AstraZeneca's (AZN) Fasenra is supported by data from the phase III GRECO study and the phase I AMES study
Shares of Coherus Biosciences popped Friday on the possibility a rival biosimilar from Novartis may have been delayed. Coherus knocks off Amgen's branded drug, Neulasta, with a copycat drug.