|Bid||0.00 x 3000|
|Ask||0.00 x 4000|
|Day's Range||38.07 - 38.68|
|52 Week Range||33.97 - 44.56|
|Beta (5Y Monthly)||0.65|
|PE Ratio (TTM)||13.56|
|Earnings Date||Jan 27, 2020 - Jan 31, 2020|
|Forward Dividend & Yield||1.44 (3.74%)|
|1y Target Est||41.45|
Ten former NFL players are being accused of scamming the league’s healthcare benefits plan for more than $3 million. Yahoo Sports' Senior Writer Charles Robinson joins Zack Guzman, Emily McCormick and former ‘Bachelorette’ contestant & business consultant Jason Tartick on YFi PM to discuss.
Mergers and acquisitions have lit up biotech stocks, and the hot pace shows no sign of slowing in 2020. Gene therapy and oncology companies are targets.
DOW UPDATE The Dow Jones Industrial Average is falling Friday morning with shares of Verizon Communications Inc. and Dow Inc. seeing the biggest losses for the price-weighted average. The Dow (DJIA) was most recently trading 50 points, or 0.
Jabil's (JBL) first-quarter fiscal 2020 results are expected to benefit from contract wins in healthcare, automotive, cloud and 5G end-markets.
Pfizer Inc. (NYSE: PFE) announced today that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion recommending the approval of VYNDAQEL® (tafamidis), a once-daily 61 mg oral capsule, for the treatment of wild-type or hereditary transthyretin amyloidosis in adult patients with cardiomyopathy (ATTR-CM).
The following is a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks that hit 52-week highs on Dec. 12.) Allergan plc (NYSE: AGN ) Amgen, Inc. (NASDAQ: ...
This week two deals grab headlines in the pharma space. Merck (MRK) offers to buy ArQule for $2.7 billion while Sanofi (SNY) signs a definitive deal to purchase Synthorx for $2.5 billion
Pfizer Inc. (NYSE:PFE) announced today that the U.S. Food and Drug Administration (FDA) has approved XELJANZ® XR (tofacitinib) extended-release 11 mg and 22 mg tablets for the once-daily treatment of adult patients with moderately to severely active ulcerative colitis (UC), after an inadequate response or intolerance to TNF blockers.
Iterum's antibiotic candidate, sulopenem, fails to meet the primary endpoint of non-inferiority to Merck's Invanz in a late-stage study, evaluating it in complicated intra-abdominal infections.
The stocks of big pharmaceutical companies have trailed behind the market in 2019, despite a rally late in the year rally. But things are looking up, according to J.P. Morgan.
Stocks and other riskier assets found themselves in holding patterns on Tuesday as the U.S. and China reportedly continued hammering details on the initial phase of a trade agreement. After faltering on Monday, the major domestic equity indexes nudged lower again today.Source: Provided by Finviz * The S&P 500 inched lower by 0.11% * The Dow Jones Industrial Average fell 0.10% * The Nasdaq Composite dropped 0.06% * Buoyed by trade speculation and some other headlines, Apple (NASDAQ:AAPL) was the Dow's best performer, but gained just under 0.60%In some positive trade news (there wasn't much negative today), it appears that China is betting that President Trump will back away from the tariffs on Chinese imports that are set to go into effect on Dec. 15. Reportedly, there has been ample talk between the two sides about scaling back levies that are already being used by both countries."The U.S. has added a 25% duty on about $250 billion of Chinese products and a 15% levy on another $110 billion of its imports over the course of a 20-month trade war," reports Bloomberg. "Discussions now are focused on reducing those rates by as much as half. New tariffs are due to take effect on Dec. 15 on a list comprising some $160 billion in imports from China including consumer items like smartphones and toys."InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Best-Performing Growth Stocks of the 2010s In other trade news, the U.S.-Mexico-Canada Agreement, known as the USMCA, was signed today. But only 19 Dow components were higher in late trading, proving that markets care more about a deal with China than anything else right now. Speaking Of AppleApple is one of the more trade-sensitive names in the Dow Jones, which explains some of the stock's upside today.A more credible explanation is a report from Nomura Instinet analyst Jeff Kvaal saying that Apple is likely to roll out several 5G iPhones next year, as expected, and it's looking like those phones will be pricey."The Nomura analyst says 5G radio requirements will boost the bill of material costs for the new phones," reports Barron's. "Using the 5G technology known as 'sub 6 GHz,' or mid-band frequencies, will add $40 to $45 to the cost of the phone, he says, while mmW capability could add another $30 to $35 in cost."Speaking of high-priced Apple products, one desiring a fully loaded version of the new Mac Pro desktop computer could shell out as much as $52,000 for all the bells and whistles, except for the $400 set of wheels that allows the computer to be mobile.Although Apple wasn't nice enough to throw in the wheels for free, Apple Card holders can earn 6% back on the purchase. A Feel For PfizerOn a day when many of the Dow's more defensive offerings were sturdy, pharmaceuticals giant Pfizer (NYSE:PFE) nudged higher. Some analysts see significant upside ahead for the blue-chip pharma name."We are maintaining our fair value estimate of $46 per share. In looking at the core business of Pfizer, we expect 3% annual sales growth over the next three years (including acquisitions) as new drugs offset generic competition," said Morningstar in a recent note. "However, on the bottom line we project a slightly healthier annual growth rate of 8% during the next three years as cost-cutting plans and share buybacks take shape."Shares of Pfizer were trading around $38.50 at this writing. Disney At It AgainWhile Disney (NYSE:DIS) managed to make slight gains throughout the day, it ultimately made a small 0.40% dip to close the day. But there's plenty of good news for the shares, which has been a regular theme this year. Frozen II is printing cash at the box office and Baby Yoda is doing the same in advance of Star Wars: The Rise of Skywalker coming out next week.Movies, merchandise and streaming are integral to the Disney stock thesis, but investors shouldn't forget about the company's theme parks."During the company's fiscal year ended in September, operating income for parks, experiences and products, as Disney calls the unit, rose 11% to $6.76 billion, on sharply higher guest spending," reports Barron's. "Now look forward several years. Wall Street expects income for the parks unit to approach $10 billion by Disney's fiscal year through September 2024, easily eclipsing media networks." Boeing UpdateIt has been over a week since Boeing (NYSE:BA) was last mentioned in this daily feature, but the Dow's largest component was in the news again today. The shares were lower on, you guessed it, more 737 MAX news.Boeing had previously hoped to get that passenger jet airborne again by the end of the year, a time frame that has been repeatedly pushed back. Remember, the decision isn't Boeing's to make. That lies with the Federal Aviation Administration (FAA). * 7 Game-Changing Tech Stocks to Buy Now And even after the FAA signs off on that, there will be months of training for pilots. In other words, it could be several more months before Boeing can make the 737 MAX serviceable for passenger travel. Bottom Line on the Dow Jones TodayBarring an epic, unforeseen disaster later this month, 2019 will wind up being a very good year for stocks. Some analysts are forecasting more of the same for 2020, assuming the right factors fall into place."The business cycle should begin to gain stronger traction… providing further room for market upside," said J.P. Morgan in a research out yesterday.The bank expects the S&P 500 to gain 8% next year with all of that upside being accrued prior to the November presidential election.As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 10 Best-Performing Growth Stocks of the 2010s * 10 Stocks With Little or No Debt to Own for the Next 50 Years * 5 Restaurant Stocks Dominating Holiday Season Foot Traffic The post Dow Jones Today: Stocks Suffered From a Distinct Lack of Excitement appeared first on InvestorPlace.
The following are top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech stocks that hit 52-week highs Dec. 9.) Acceleron Pharma Inc (NASDAQ: XLRN ) Aimmune Therapeutics ...
(Bloomberg Opinion) -- Sanofi CEO Paul Hudson didn’t inherit an easy job when he took over the French pharma giant in September. The company’s shares have been in the doldrums for years, weighed down by a sagging diabetes business and a weak pipeline of new drugs. The former Novartis AG executive kicked off his turnaround effort in earnest Monday by announcing the acquisition of cancer startup Synthorx Inc. for $2.5 billion and releasing a new strategic plan for the drugmaker. Under Hudson, Sanofi plans to halt investment in heart and diabetes research, doubling down on other areas including cancer and rare diseases. The company’s consumer unit will become a stand-alone business, which raises the specter of a possible future sale. All of the moves make some sense and are in line with what other large drugmakers, including his prior employer, have tried in recent years. The key to success for Sanofi will be execution, and there are pitfalls aplenty. One of the most significant changes at Sanofi is its move away from once-core diabetes and heart medicines. Hudson says he sees more valuable opportunities elsewhere, and he could be right; pricing pressure has made those areas increasingly competitive. Sanofi’s new areas of focus may offer more growth potential and higher prices, which will be crucial if the company is going to hit Hudson’s ambitious new margin-improvement goals. Sanofi is arriving somewhat late to a shift that many of its rivals have been embracing for years, however. It has a lot of catch-up to do, and it isn’t starting with the industry’s healthiest balance sheet. A big chunk of its available cash will go to Synthorx, which is a particularly risky cornerstone for a new-look Sanofi. It makes sense that Sanofi might be interested in Synthorx’s lead product, THOR-707. That medicine and others in Synthorx’s pipeline could combine with Sanofi’s immune-boosting cancer drug Libtayo. “Could” is doing a lot of work there. Sanofi just paid one of the biggest biotech premiums of the past few years for a company that has generated little proof that its approach works. Hudson will have a hard time sufficiently stocking his pipeline if he’s paying exorbitant prices for very early-stage drugs. Selling some part of Sanofi’s multi-billion-dollar stake in Regeneron could help finance further deals, as could divesting the firm’s consumer unit. We’ll find out more about Sanofi’s over-the-counter intentions at its capital markets day Tuesday. Its preference for higher-margin products and separation of the unit certainly suggests that a sale is a possibility. Slimming down worked out well for Novartis, which has reaped billions in proceeds and a higher multiple by getting rid of consumer and eye-drug units. That doesn’t mean Sanofi will have the same experience. The 2018 sale of Novartis’s consumer arm was the result of a long-running saga that started five years earlier with a complicated asset swap with GlaxoSmithKline PLC under which it paid out more money than it got. Pfizer Inc.’s long-running effort to get rid of its over-the-counter arm ended with, you’ll never guess, a proceed-free joint-venture with GSK. The market hasn’t received Pfizer’s efforts especially kindly. It’s a positive sign that Hudson is taking action and putting his stamp on the company. But just because the strategic road he’s taking is well-trodden doesn't mean it will be easy. To contact the author of this story: Max Nisen at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Max Nisen is a Bloomberg Opinion columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Sangamo Therapeutics, Inc. (Nasdaq: SGMO), a genomic medicine company, and Pfizer, Inc. (NYSE: PFE), today announced updated follow-up results from the Phase 1/2 Alta study evaluating investigational SB-525 gene therapy in patients with severe hemophilia A. The data showed that SB-525 was generally well tolerated and demonstrated sustained increased Factor VIII (FVIII) levels following treatment with SB-525 through to 44 weeks, the extent of follow-up for the longest treated patient in the 3e13 vg/kg dose cohort. Data from 11 patients treated with SB-525 will be featured in a poster presentation today, December 7, 2019, at the 61st Annual Meeting of the American Society of Hematology (ASH) in Orlando, FL. The SB-525 ASH poster, which includes the full set of data, is available on Sangamo’s website in the Investors and Media section under Events and Presentations.
The FDA approves Roche's (RHHBY) Tecentriq for expanded use. It grants priority review status to AstraZeneca (AZN) & Merck's (MRK) supplemental applications.
Glaxo (GSK) submits a new drug application to the FDA for its first-in-class attachment inhibitor fostemsavir, which is being evaluated for the treatment of HIV-1 infection.
It's been three weeks since the U.S. Food and Drug Administration recommended that Amarin's (NASDAQ:AMRN) prescription-strength fish oil drug, Vascepa, be approved for broader use to help patients at risk for heart and stroke problems. Amarin stock jumped on the news but has since fallen back into the low $20s. Source: Pavel Kapysh / Shutterstock.com The word on the street is that some of the biggest players in pharmaceuticals are sniffing around Amarin's business. Some speculate that the Amarin stock price could be worth as much as $56 a share in the hands of a strategic buyer.With M&A heating up in the biotech industry, could Amarin be worth $20 billion to a strategic buyer?InvestorPlace - Stock Market News, Stock Advice & Trading TipsAmarin is currently valued at $7.8 billion by investors. A $20-billion buy would mean paying a 160% premium to its current stock price. Maybe I'm old fashioned, but that strikes me as just a little too rich for a drug that's only been approved for sale since July 2012 and then only to lower patients' triglyceride levels. Are investors getting a little ahead of themselves? A Closer Look at Amarin StockAmarin released its Q3 2019 earnings in early November. Revenues grew 103% to $112.4 million. Through the first nine months, business was so good it exceeded company sales for all of 2018. * 7 Retail Stocks to Buy That Dominated Thanksgiving Shopping As for Vascepa, Amarin reported that the total number of prescriptions at the end of September was 826,000 at the midpoint of estimates from third-party healthcare data providers, up 89% from the same period a year earlier. "Growth in net product revenue was supported by increased prescription levels of Vascepa® (icosapent ethyl) capsules. The increased prescription levels reflect both a higher number of Vascepa prescribers and an increase in the average prescriptions per prescriber," stated the Q3 2019 press release. Not bad for a drug that's limited to treating patients with high triglycerides. Imagine what it could do with a broader application to lower fat levels for a significant number of Americans at risk for heart problems. Currently, these people are using drugs such as Lipitor and Zocor to lower their cholesterol. The FDA believes Vascepa can reduce the number of people with heart problems. It's expected to make a final decision by Dec. 28. The recent findings by the regulatory body suggest Amarin will receive good news by the end of this month."There is no doubt this drug could benefit a substantial portion of the U.S. population and meet an unmet need," said Dr. Jack Yanovski, a panelist and hormone specialist from the federal National Institutes of Health.Some analysts expect Vascepa to deliver annual sales as high as $3 billion.While it wouldn't be good enough to make 2018's list of the top-selling drugs, it's important to note that most of the drugs on this list are related to cancer or arthritis. As far as I can tell, there is only one cardiovascular drug, Xarelto, that's on the list. So, the interest level from Big Pharma should be high. Is Amarin Stock Worth $56?Let's assume that Vascepa hits the analyst target of $3 billion. Amarin currently has $286.5 million in revenue through the first nine months of the fiscal year. In Q4 2018, it had revenues of $77.3 million. Double that in 2019, and you get full-year sales of $440.1 million, 92% higher than in 2018.So, we're talking about a seven-fold increase in Amarin's sales from the broader use of Vascepa. Amarin is trading at 19.7 times sales. If it gets to $3 billion and maintains the same multiple, it would have a future market cap of close to $60 billion. The question then becomes how long it will take to get to $3 billion. It's currently growing revenues at 50% for a drug that's used for just one application. The potential user base to lower fat levels is so much higher. While some other company may develop a drug that puts Vascepa on the sidelines, it's hard to imagine that happening in the next 12-24 months. In the meantime, Amarin gets a big headstart on its competition. That alone could have the Pfizer's (NYSE:PFE) of the world come calling. I think it could be worth $20 billion to a strategic buyer. In 2020, we might find out who that is. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy That Dominated Thanksgiving Shopping * 6 Manufacturing Stocks to Buy as the Economy Recovers * The 7 Best Cryptocurrencies to Buy as Blockchain Heats Up The post Acquisition Rumors Aren't the Only Thing Moving Amarin Stock appeared first on InvestorPlace.
Biotech giant Biogen Inc. created what one attendee called an “electric atmosphere” at an industry conference Thursday when it presented new data from its controversial and potentially industry-changing Alzheimer’s disease drug.
Stocks moved modestly on a day in which Democratic leadership in the House confirmed articles of impeachment will be filed against President Trump, indicating the trade relationship with China is a bigger priority for markets than party politics. * The S&P 500 rose 0.15% * The Dow Jones Industrial Average climbed 0.10% today * The Nasdaq Composite advanced 0.05% * Supported by positive analyst chatter, Nike (NYSE:NKE) was the Dow leader today, jumping 2.21%.Talk that President Trump could back off tariffs on Chinese imports set to go into effect on Dec. 15 along with reports that officials from both sides remain engaged in talks lifted stocks today."Chinese officials are in 'close contact' with their American counterparts on negotiations, said Ministry of Commerce spokesman Gao Feng," reports Bloomberg.InvestorPlace - Stock Market News, Stock Advice & Trading TipsStill, not all of the China-related headlines out Thursday were perfect. For example, Treasury Secretary Steven Mnuchin said earlier today he supports China being removed from a World Bank program designed to help smaller, less affluent nations refinance debt. * 7 Retail Stocks to Buy That Dominated Thanksgiving Shopping "Mnuchin added that the selection of former Treasury Undersecretary David Malpass as the World Bank's president earlier this year gives him confidence the institution will revise its practices to make its lending more equitable." according to CNBC.Those comments may have capped stocks' gains today as just 14 of the Dow's 30 members were higher in late trading. Nike Runs Higher On Goldman UpgradeAs noted above, Nike was the best-performing name in the Dow today and an upgrade from Goldman Sachs explains why the stock surged. Nike entered Thursday with a year-to-date gain of 26%, putting it ahead of the S&P 500 and well ahead of the Dow. Goldman Sachs analyst Alexandra Walvis believes the good times can continue next year.She upgraded Nike to "buy" from "neutral" while adding the stock to Goldman's prestigious conviction buy list."Evidence of building pricing power, signs of operating leverage, accelerating shift to differentiated retail, sharply scaling app ecosystem, and a constructive global athletic growth backdrop," said Walvis in a note to clients.The analyst has a $112 price target on Nike, implying upside of about 20%. Happy Holidays With AppleApple (NASDAQ:AAPL) is classified as a technology stock, but it's very much levered to strength in the consumer sector, making it a credible play on the holiday shopping theme. Wall Streets seems to agree with that sentiment.Today, Citigroup analyst Jim Suva reiterated a "buy" rating on Apple, noting that the holiday season offers plenty of catalysts for the stock."This Christmas is different for Apple," said the Citigroup analyst. "Apple's product offerings as well as pricing strategies and recent demand trends augur for a better Christmas quarter compared with last [fiscal] year when Apple negatively preannounced." Good News For This SectorThe healthcare sector, the second-largest group in the S&P 500 behind technology and an important part of the Dow as well, has been getting plenty of attention thanks to a recent resurgence. Dow component UnitedHealth (NYSE:UNH) has been leading that climb and that stock, along with fellow Dow member Johnson & Johnson (NYSE:JNJ) traded higher today.In other words, it was a mixed bag for Dow healthcare stocks on Thursday with Pfizer (NYSE:PFE) trading lower. But don't fret. Healthcare is looking healthy and could be a rewarding defensive play in 2020. * 10 Hot Pot Stocks to Buy "I believe that it's broken out so strongly that even after … it works off that overbought condition, it's going to rally higher … if we do have a big scare on the tariff side. But it also should rally even if the whole market moves up. So it's kind of a win-win situation, again, after a little bit of a breather on the near term," said Matt Maley, chief market strategist at Miller Tabak, of the healthcare sector in a CNBC interview. Bottom LineTwo days in a row of good/no bad news on the trade front is encouraging, but near-term bullishness will be tested tomorrow when the Labor Department delivers the November jobs report before the bell. The ADP private payroll survey out earlier this week was weaker-than-expected, indicating the same could be true of the more Labor Department number.Economists are expecting the addition of 185,000 new jobs last month. If the number comes in well below that level and the October and September numbers are revised lower, Friday could be a rough day for riskier assets.As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy That Dominated Thanksgiving Shopping * 6 Manufacturing Stocks to Buy as the Economy Recovers * The 7 Best Cryptocurrencies to Buy as Blockchain Heats Up The post Dow Jones Today: Trade Influenced Stocks More Than Impeachment News appeared first on InvestorPlace.
The FDA grants Breakthrough Therapy designation to Bristol-Myers Squibb's (BMY) Orencia for the prevention of moderate-to-severe acute GvHD in hematopoietic SCT from unrelated donors.
The companies both hit the dubious roster twice, but are joined by many of the biggest names in the drug industry Continue reading...