|Bid||90.26 x 3200|
|Ask||90.32 x 2200|
|Day's Range||90.21 - 90.79|
|52 Week Range||72.30 - 92.39|
|Beta (3Y Monthly)||0.65|
|PE Ratio (TTM)||16.82|
|Forward Dividend & Yield||2.94 (3.26%)|
|1y Target Est||99.00|
Shares of Biogen Inc. fell 1.2% in premarket trade Thursday after the stock was downgraded to hold from buy by Stifel, with analysts citing "decreased confidence in Alzheimer's, a looming Tecfidera legal saga and well-documented competitive threats to Spinraza." Stifel also lowered its price target to $346 from $397. Investor confidence in the Alzheimer's space took a hit last month after Roche Holding AG announced it was stopping clinical trials for two Alzheimer's drugs targeting beta-amyloid, a key marker of the disease. The announcement turned up the pressure on Biogen, which is currently working a drug that also targets beta-amyloid. Earlier this month, the U.S. Patent and Trademark Office said Mylan N.V. would likely succeed in a patent challenge against Biogen's top-selling multiple sclerosis drug Tecfidera, raising concerns about the drug's exclusivity and future sales estimates. Biogen also faces looming competition to its spinal muscular atrophy drug, Spinraza, including Roche's risdiplam and Novartis's branaplam. The company "has become a harder story for us to get behind with optimism and conviction," Stifel analysts wrote. Shares of Biogen have gained 17% in the past 12 months, while the S&P 500 has gained 3%.
AbbVie's (ABBV) new drug application for its late-stage candidate, upadacitinib, gets a priority review status from the FDA for treating rheumatoid arthritis in adult patients.
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 Feb. 19) Alector Inc (NASDAQ: ALEC ) (IPOed early February) ...
The FDA accepts Roche's (RHHBY) BLA for polatuzumab vedotin and NDAs for entrectinib, and grants Priority Review status to the applications.
Is Teva Pharmaceutical an Attractive Pick This February?(Continued from Prior Part)Growth driversOn its fourth-quarter earnings conference call, Teva Pharmaceutical (TEVA) highlighted Ajovy and Austedo as its key growth drivers for 2019.Copaxone
Novartis AG (NVS) is projected to become the biggest drugmaker in the world by 2024, according to an article published late last year by FiercePharma. Despite being a top pharma company over the past five years, the growth of Novartis' shares has been lackluster at best. Warning! GuruFocus has detected 3 Warning Sign with NVS.
AveXis, a clinical stage gene therapy company, has selected Durham County over Illinois and Ireland for a major expansion – one that involves 200 production jobs.
The U.S. Centers for Medicare & Medicaid Services (CMS) on Friday proposed coverage of expensive CAR-T cell therapies at cancer centers that meet criteria including a registry or clinical study to monitor how well patients fare for at least two years after treatment. New hospital payment terms from Medicare, the federal government healthcare program for the elderly and disabled, are expected later in the year. If the proposal is finalized, use of CAR-Ts for Medicare patients could continue to be limited to the largest regional cancer centers.
Announcement: Moody's announces completion of a periodic review of ratings of Biogen Inc. New York, February 15, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Biogen Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Under a new proposal by the Centers for Medicare & Medicaid Services, the Medicare program would cover FDA-approved CAR-T therapies. CAR-T, or chimeric anitgen receptor T-cell, therapies use genetically-engineered immune cells called T cells to more specifically target cancer cells. CMS said the proposal, announced Friday, would require Medicare to cover the cancer treatment when it is offered in a CMS-approved registry or clinical study, as long as data is collected from the patients for at least two years after treatment. CMS said it plans to use the information to decide what treatments are most beneficial to patients and which CAR-T therapies to fund in the future. "Today's proposed coverage decision would improve access to this therapy while deepening CMS's understanding of how patients in Medicare respond to it, so the agency can ensure that it is paying for CAR T-cell therapy for cases in which the benefits outweigh the risks," said CMS Administrator Seema Varma in a statement. There are currently only two approved CAR-T therapies in the U.S., and both are very expensive. Novartis's Kymriah has a list price of $475,000, while and Gilead Sciences Inc.'s Yescarta is priced at $373,000. There is no national Medicare policy for covering the expensive new cancer treatment, so it is currently up to local Medicare administrative contractors to decide whether to pay for it. Shares of Novartis have gained 4.3% in the year to date, while shares of Gilead have gained 6.3%. The SPDR S&P Pharmaceuticals ETF has gained 13.5% and the S&P 500 has gained 10.4%.
MRK or GSK: Which Is the Better Pharmaceutical Pick This Month?(Continued from Prior Part)Growth drivers On its fourth-quarter earnings conference call, GlaxoSmithKline (GSK) highlighted the prioritization of R&D (research and development)
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 Feb. 13) Abbott Laboratories (NYSE: ABT ) Ionis Pharmaceuticals ...
Siddhartha Mukherjee, the cancer geneticist and Pulitzer Prize-winning writer who is working on a novel way to expand immunotherapies for blood cancers, has raised $42m for his start-up Vor Biopharma. to attack cancer, by disabling blockers inside the body.
Conatus (CNAT) completes enrollment in a phase IIb study on emricasan, being developed for the treatment of patients with fibrosis or cirrhosis caused by NASH.
(Reuters) - British pharmaceutical firm Clinigen Group Plc said on Wednesday it had agreed to acquire the U.S. rights to Swiss drugmaker Novartis AG's skin and lung cancer drug Proleukin for a total of ...
Aduro (ADRO) doses the first patient in a phase I study on ADU-S100 in combination with Yervoy for the treatment of relapsed and refractory melanoma. Shares rise.
Investors are looking forward to Jakafi's performance and other pipeline updates when Incyte (INCY) reports Q4 results on Feb 14.
Drug companies have spent big on chimeric antigen receptor T-cells, or CAR-T, cancer therapies. The treatment involves a process whereby a patient’s T-cells are extracted, modified and reinserted into the body to fight cancer. The treatments are exciting from a scientific point of view and have provided significant clinical benefits to a small number of patients with severe and uncommon forms of cancer.