|Bid||0.00 x 4000|
|Ask||43.02 x 3200|
|Day's Range||42.75 - 43.23|
|52 Week Range||37.56 - 46.47|
|Beta (3Y Monthly)||0.43|
|PE Ratio (TTM)||22.13|
|Earnings Date||Jul 30, 2019|
|Forward Dividend & Yield||1.44 (3.36%)|
|1y Target Est||45.75|
Pfizer Inc. today announced the United States Food and Drug Administration has approved RUXIENCE™ , a biosimilar to Rituxan® ,1 f
Pfizer (PFE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Predictably, the Direxion Daily Pharmaceutical & Medical Bull 3X Shares (NYSE: PILL), the leveraged exchange-traded fund tied to that index, is faring much worse than that benchmark. PILL, which attempts to deliver triple the daily returns of the Dynamic Pharmaceutical Intellidex Index, is lower by nearly 14% just this month. The Dynamic Pharmaceutical Intellidex Index is not a cap-weighted index.
With earnings surprise in cards, the healthcare sector is expected to witness earnings growth of 1.7% in the second quarter, suggesting continued outperformance for healthcare ETFs.
These are the clinical trial readouts, FDA decisions, and blockbuster-drug launches that will set the tone for the entire industry.
The Canadian health regulator said on Friday it would keep importing U.S.-based Kaleo Inc's epinephrine auto-injectors and expects adequate supply of the devices in the country over the coming months. There has been a shortage of EpiPens in the United States, Europe and Canada, mainly hit by a series of manufacturing delays at Pfizer's Meridian Medical unit that produces all EpiPens sold globally at a single plant near St. Louis. Health Canada's announcement comes after Pfizer Inc, which makes Mylan NV's EpiPen, notified the regulator that a shortage of the 0.3 mg dose of the emergency allergy shots may lead to temporary supply constraints in Canada.
Sarepta Therapeutics, Inc. (SRPT) got a major boost in June after Pfizer, Inc. (PFE) presented data on its new Duchenne Muscular Dystrophy (DMD) gene therapy drug at the annual Parent Project Muscular Dystrophy (PPMD) conference. Pfizer’s drug left two patients in the hospital after they experienced severe side effects. Some analysts and financial bloggers believe that these results have SRPT perfectly positioned for sustainable long-term growth. So which stock should investors pick? Sarepta Has the Superior Treatment Sarepta is one of the leading commercial-stage biopharmaceutical companies, specializing in the treatment of rare diseases including DMD. DMD is a genetic disorder primarily affecting boys that causes progressive muscle degeneration and weakness. The company’s data looked stronger than PFE’s not only in terms of safety but also with respect to the level of transparency. Sarepta released Western Blot data showing that its treatment meets the accepted standards for dystrophin quantification, the only measure that’s present in every study. Pfizer on the other hand left this information out. SRPT’s other DMD treatment, Exondys 51, is already on the market and is the only DMD drug of its kind that’s commercially approved. Annual sales for the treatment totaled $301 million, up 95% from last year. As the drug doesn’t have any competition, it’s likely that sales will only continue to grow. This drug alone is expected to generate $400 million in revenues for 2019. The FDA is expected to approve SRPT’s new golodirsen drug for a different subgroup of patients with DMD on August 19. Not to mention the company acquired five new gene therapy candidates for $165 million in February. One of these therapies has already shown promising results for the treatment of Limb-Girdle Muscular Dystrophy. Pfizer Has Been Falling Behind Pfizer was attempting to break into the DMD treatment space, but the findings presented at the PPMD conference were disappointing. In a six-patient study, two different dosages of the gene therapy were given to boys between the ages of 6 to 12 years old. Side effects from the drug put two out of the six boys in the hospital. Experts also said that all measures of expression looked worse than SRPT’s and generally unsafe. This is not the first time the pharmaceutical giant has failed to produce an effective DMD treatment. In August 2018, Pfizer dropped its domagrozumab (PF-06252616) DMD candidate based on poor safety and efficacy test results.The company’s loss of exclusivity for its pain medication, Lyrica, as well as the controversy surrounding drug pricing isn’t helping the situation. Share prices are down 3% year-to-date, with analysts expecting -5% earnings growth for the current quarter. What are the Analysts Saying?With strong results from existing treatments and the possibility of new treatments becoming available, the future is looking bright for SRPT. Morgan Stanley analyst, Matthew Harrison, agrees with that sentiment. On July 9, he reiterated his Buy rating and raised his price target from $165 to $220. “Sarepta's DMD gene therapy is positioned to be the first to market, taking a majority share of the ~$20B prevalent population in the US and expanding internationally with a significant lead. Based on our proprietary analysis we believe investors underappreciate the magnitude of Sarepta’s best-in-class efficacy compared to Pfizer,” he said.On July 1, another top analyst, Brian Abrahams, maintained his Buy rating while increasing the price target from $188 to $220. “Based on our analysis of PFE's initial DMD gene therapy results - incorporating the on-site sentiment from KOLs and patients - we see SRPT as the clear leader in this space and are increasing our out-year DMD share/penetration estimates,” he said. The Takeaway The results are in, and SRPT is the clear winner. The stock boasts a ‘Strong Buy’ analyst consensus, with 12 buy ratings vs just 1 hold over the last three months. The average price target is $215, suggesting 40% upside potential.Click Here to see the full list of SRPT Analyst RatingsAnalysts are not as optimistic about Pfizer. The stock has a ‘Moderate Buy’ analyst consensus and $47 price target, suggesting 9% upside. SRPT & PFE Performance Comparison Details
Novartis AG (NVS) gained 1.1% so far in trading this week. Plus, the Swiss multinational pharmaceutical company has been on a tear since the end of April, up 18.2%. Now let's see what investors should expect heading into its Q2 2019 earnings release on Thursday.
US drug manufacturers and distributors are under the gun. Two decades into the opioid addiction epidemic that has killed more than 200,000 people, the industry is now confronting a cluster of lawsuits and enforcement actions seeking to hold them accountable for a health crisis that adds up to an economic burden of $78.5bn annually. have recently settled with the state of Oklahoma for $270m and $85m respectively.
A somewhat slack economic report out of China, the world's second-largest economy, stood in the way of stocks notching big gains Monday.Source: Shutterstock China said its second-quarter GDP rose "just" 6.2%, below economists' forecasts calling for 6.3% and good for the country's slowest pace of economic growth in 27 years. Chinese economists are now expecting 2019 growth of 6%, well below the original forecast of 6.5%.Here in the U.S., the Nasdaq Composite rose 0.17% while the S&P 500 added just 0.02%, and the Dow Jones Industrial Average added 0.10%. That after the major domestic benchmarks touched record highs early in Monday's session.InvestorPlace - Stock Market News, Stock Advice & Trading TipsCitigroup (NYSE:C) got second-quarter earnings season rolling today, reporting that net income rose to $4.8 billion, or $1.95 per share, from $4.5 billion, or $1.63 per share, a year earlier. Analysts expected per share earnings of $1.80. * 7 Dependable Dividend Stocks to Buy Citi is not a member of the Dow Jones Industrial Average, but the bank's positive earnings surprise could be a sign of things to come. That would be a good thing with Dow components JPMorgan Chase (NYSE:JPM) and Goldman Sachs (NYSE:GS) stepping into the earnings confessional on Tuesday. A Tasty WinnerMcDonald's (NYSE:MCD) posted a modest gain today, but that was enough to extend its year-to-date returns to around 22%, solidifying the burger joint as one of 2019's best-performing members of the Dow. In a note out Monday, Tesley Group reiterated an "outperform" rating on McDonald's while boosting its price target on the stock to $230 from $210. That implies decent upside as Monday closed just above $214.McDonald's shares "offer both offensive and defensive investment attributes for both good times and slower times, and with its menu of both premium and value-priced options," according to Tesley.Piper Jaffray and Wells Fargo also boosted price targets on McDonald's to $226 and $235, respectively. Options ActionMicrosoft (NASDAQ:MSFT), the largest U.S. company by market value, reports earnings on Thursday. It is expected to be a bellwether report given the stock's sheer heft in broad market benchmarks and technology sector funds.Microsoft remains around the vaunted $1 trillion market cap. It appears some options traders are betting on good news from Microsoft's earnings report. At one point on Monday, calls were outpacing puts in the name by a margin of more than 2-to-1, according to Schaeffer's Investment Research. Historically, shares of Microsoft move nearly 3% following the company's earnings reports. Pharma and Politics … AgainThough in modest fashion, the Dow's pharmaceuticals components - Johnson & Johnson (NYSE:JNJ), Merck (NYSE:MRK) and Pfizer (NYSE:PFE) - each closed higher today despite drug price commentary from former Vice President Joe Biden, a 2020 Democratic frontrunner.Biden "unveiled a healthcare plan on Monday estimated to cost $750 billion and paid for partly by higher tax rates for the wealthy and doubled tax rates on capital gains," according to Reuters.This is not a "Medicare For All" gambit. Rather, Biden's healthcare proposal is seen as a refresher of Obamacare, which was implemented when he was vice president. Bottom Line for Dow Jones StocksIt's earnings season, meaning it's also complaining season for U.S. companies. Expect one of the primary complaints to be about the strength of the dollar."Of the 5% of S&P 500 companies that have reported so far, more than half of them cited a strong greenback as a headwind to their business in the second quarter, according to FactSet, which parsed through companies' conference call transcripts to look for specific factors weighing on company earnings," reports CNBC.With the Invesco DB US Dollar Index Bullish Fund (NYSEARCA:UUP) up nearly 3% year-to-date, dollar-related earnings commentary gets us back to a familiar theme: the impetus for the Federal Reserve to lower interest rates and do so soon.Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dependable Dividend Stocks to Buy * 10 Stocks Driving the Market to All-Time Highs (And Why) * 7 Short Squeeze Stocks With Big Upside Potential The post Dow Jones Today: China, Earnings Anticipation Stall Stocks on Monday appeared first on InvestorPlace.
Former U.S. Vice President Joe Biden, the front-runner in the Democratic presidential race, unveiled a healthcare plan on Monday estimated to cost $750 billion and paid for partly by higher tax rates for the wealthy and doubled tax rates on capital gains. "The Biden plan to protect and build on the Affordable Care Act" seeks to strengthen the signature healthcare plan, popularly known as Obamacare, enacted under former Democratic President Barack Obama. Biden was Obama's vice president for eight years.
Investors' skepticism runs rife as Trump drops the drug rebate proposal, pushing drugmakers to take center stage with regard to the controversial drug pricing issue.
The FDA assigns an orphan drug designation to AstraZeneca's (AZN) Imfinzi for the treatment of small cell lung cancer, the most aggressive type of the ailment.
Ruud Dobber, AstraZeneca’s biopharmaceuticals president, weighs in on the Trump administration walking back one change it had been seeking in the drug space.
Yahoo Finance's Brian Sozzi, Alexis Christoforous, and Anjalee Khemlani break down what's driving the health care sector higher.