|Bid||43.96 x 1800|
|Ask||44.16 x 1800|
|Day's Range||43.51 - 44.27|
|52 Week Range||33.20 - 45.81|
|Beta (3Y Monthly)||0.73|
|PE Ratio (TTM)||11.16|
|Earnings Date||Jan 28, 2019 - Feb 1, 2019|
|Forward Dividend & Yield||1.36 (3.13%)|
|1y Target Est||43.79|
My weekend scanning revealed one prominent theme: The healthcare sector is one of the strongest on the Street making many of its constituents the best stocks to buy for the week ahead. Volume patterns are supporting an optimistic view with numerous accumulation days forming after last month’s earnings report.
The selling began early and intensified throughout the day as investors sold nearly everything in sight. Of course, there were a few stocks and sectors that avoided the damage, like Coca-Cola , Verizon and Pfizer , but they were lonely greenshoots in a sea of red. Tech stocks led the bleeding as they have since August, and the headlines were ugly.
pushed higher on Monday despite defying White House demands to control prices and a broader market selloff. Caitlin Oakley, a spokeswoman for the U.S. Department of Health and Human Services, lambasted the company's move in a statement to Real Money. "Actions announced Friday on list prices further illustrate the perverse incentives of America's drug pricing system," she wrote.
Pfizer and Germany's Merck KGaA said their immunotherapy regimen failed as an ovarian cancer treatment, underscoring "the significant challenges these women face." Pfizer stock rose.
The current market conditions could bode well for drug stocks into the coming quarters should corrections continue. "The market is telling us what we already know, people are scared of a recession and an escalating trade war and are therefore positioning more defensively," Action Alerts Plus analyst Zev Fima told Real Money. The companies will also be buoyed because of the inelastic demand for their products.
HHS spokeswoman Caitlin Oakley did not hold back in a statement to Real Money. "Actions announced Friday on list prices further illustrate the perverse incentives of America's drug pricing system," she wrote. "Drug companies raising their prices and offsetting them with higher rebates benefits everyone but the consumer, who routinely pays out of pocket based on list price.
The major indices continue to see extreme selling pressure. Breadth is running about 1,750 gainers to 5,350 decliners and new 12-month lows are over 300. There is a steady diet of bad news and no immediate technical support until the lows of October are retested.
Without a "blueprint to lower drug prices" from the White House, the pharmaceutical giant will resume business as usual, lifting list prices by about 5%.
"PFE's oncology assets will make up 13% of its total 2018 sales, according to FactSet, and they will accelerate PFE's sales growth for the foreseeable future, but these drugs are underappreciated," Cantor Fitzgerald analyst Louise Chen wrote on Sunday. The cancer drug market is expected to accelerate quickly in the coming years, growing from a surveyed total value of $78 billion in 2015 to over $110 billion by 2020, according to Allied Market Research.
Amgen's (AMGN) leukemia drug, Blincyto receives positive CHMP opinion for label expansion to include minimal residual disease.
Market watchers and analysts are waiting for a tweet from President Trump to try to embarrass or strong arm management into rescinding the raises. The rising On-Balance-Volume (OBV) is positive until early October and then it turns neutral/positive. Prices dip in October/November but the OBV line has been steady/flat telling me that buyers and sellers of PFE have been balanced.
drug price increases that defy the oval office are provoking a mixed response. Shares of the New York City-based pharmaceutical giant have remained largely flat to slightly negative in pre-market, adding further signs of uncertainty to what has been a tumultuous fourth quarter so far amid pressure from both President Trump and HHS Secretary Alex Azar on the pricing issue. The company's announcement of price increases comes shortly after HHS Secretary Azar discussed problems with transparency and pricing controls in the industry.
Bausch Health’s (BHC) wholly owned subsidiary Ortho Dermatologics generated revenues of $177.0 million in the third quarter. In the third quarter, Ortho Dermatologics’ net revenues remained flat compared to the third quarter of 2017. Ortho Dermatologics witnessed ~1% YoY organic revenue growth.
The Zacks Analyst Blog Highlights: Pfizer, Cisco, Southern, SunTrust Banks and AmerisourceBergen
Merck KGaA and Pfizer Inc. said early Monday that the cancer immunotherapy avelumab did not meet the primary endpoints of a phase 3 ovarian cancer trial. The trial, JAVELIN Ovarian 200, tested avelumab both alone and in combination with chemotherapy. It specifically focused on individuals with platinum-resistant or -refractory ovarian cancer, or cancers that did not respond to prior chemotherapy treatment, "a population known to have disease that is challenging to treat; as such, this group of patients in typically not included in Phase 3 ovarian cancer trials," Dr. Chris Boshoff, Pfizer's senior vice president and head of immuno-Oncology, early development and translational oncology, said. "The results speak to the significant challenges these women face." Another Merck and Pfizer trial of avelumab, in a type of lung cancer, also did not meet its primary endpoint earlier this year. The drug is being tested in several other types of cancer, with roughly 17 total clinical trials ongoing, according to Pfizer's drug pipeline. Both U.S.-listed Merck KGaA and Pfizer shares were inactive in Monday premarket trade. Merck KGaA shares have surged 8.8% over the last three months and Pfizer shares have risen 3.4%, compared with a nearly 4% drop in the S&P 500 and a 1% decline in the Dow Jones Industrial Average .
DARMSTADT, Germany and NEW YORK , November 19, 2018 /PRNewswire/ -- Not intended for UK-based media Merck KGaA, Darmstadt, Germany , and Pfizer Inc. (NYSE: PFE) today announced that the Phase III JAVELIN ...
NEW YORK, NY / ACCESSWIRE / November 19, 2018 / Pfizer and Facebook were both in deep water last week. Pharma giant Pfizer decided to increase the prices of 41 drugs according to the WSJ with the price hikes taking effect in January. Shares of Facebook hit a new low as Wall Street continued to grapple with a NY Times article about executives at the company ignoring warning signs of abuse.
shares plunged to the lowest level in four years Monday, wiping more than $2 billion from the company's market value, after Nissan Motor Co. said chairman Carlos Ghosn misused company funds following an investigation in cooperation with Japan's Public Prosecutors Office. The Nissan statement followed a a report from Japan's Asahi newspaper, and other media outlets, that the Renault CEO faces arrest for allegedly violating the country's financial instruments and exchange linked to his role as chairman of Nissan Motor Co.
Association for Accessible Medicines CEO Chip Davis discusses the Trump administration’s fight to lower prescription drug prices.