42.30 0.00 (0.00%)
After hours: 6:50PM EDT
|Bid||42.17 x 900|
|Ask||42.30 x 1800|
|Day's Range||41.75 - 42.43|
|52 Week Range||34.32 - 46.47|
|Beta (3Y Monthly)||0.51|
|PE Ratio (TTM)||22.67|
|Earnings Date||Apr 30, 2019|
|Forward Dividend & Yield||1.44 (3.45%)|
|1y Target Est||44.14|
DARMSTADT, Germany and NEW YORK , March 19, 2019 /PRNewswire/ -- Not intended for UK-based media Merck KGaA, Darmstadt, Germany , which operates its biopharmaceutical business as EMD Serono in the US and ...
How Major Pharmaceutical Stocks Are Positioned This MonthAnalysts’ recommendations and target price Wall Street analysts expect a potential upside of 5.57% for Pfizer (PFE) based on the company’s closing price on March 18. In 2019, analysts have
Aerie (AERI) begins dosing in a phase II study on AR-1105 for treating patients with macular edema due to retinal vein occlusion.
The FDA approves Allergan's (AGN) sNDA for the label expansion of its antibacterial medicine, Avycaz, to treat cUTI and cIAI in pediatric patients.
Today, I'd like to discuss the outlook for AbbVie (NYSE:ABBV), the $116-billion-market-cap biopharmaceutical stock, whose shares have been in a downtrend for almost a year and have especially been hammered following its earning report of Jan. 25.Source: Shutterstock * Top 7 Service Sector Stocks That Will Pay You to Own Them There could be further price volatility and weakness in the ABBV stock price in the coming weeks, pushing it toward the low-$70's or even mid-$60's level. However, it is a company with robust growth prospects and respectable dividends that may deserve a place in a diversified portfolio.Therefore, if you already own AbbVie shares, you might want to hold your position. That said, within the parameters of your portfolio allocation and risk/return profile, you may consider placing a stop loss at about 5-7% below the current price point. Expect nearer-term trading to be choppy at best.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIf you are an experienced investor in the options market, you may want to protect your portfolio with a covered call or possibly a put option spread with a 3-month time horizon. If you do not yet hold ABBV, you may want to wait several weeks to buy into the stock at the next dip.With all of that in mind, here's a deeper look into at AbbVie stock. A Hiccup in the Robust Fundamental StoryIn 2013, Abbott Laboratories (NYSE:ABT) spun off its research-based pharmaceuticals business, creating AbbVie, an independent biopharmaceutical company. Abbott decided to retain the branded generic pharmaceuticals, diagnostics, medical devices and nutrition.Meanwhile, AbbVie took control of the development and commercialization of a range of brands, including Humira, its flagship drug used to treat autoimmune diseases, Imbruvica, which differentiates between cancer cells and regular cells, and Synthroid, a replacement for a hormone normally produced by the thyroid gland.The company's financials and growth metrics over the past five years have been impressive and ABBV was in a strong financial position heading into 2019, with hopes of a higher share price during the first quarter.However, in January, AbbVie's fourth-quarter earnings release weighed heavily on the stock. For starters, the company missed the consensus on revenue. Its earnings per share of $1.90 was below the expected number of $1.94. The next day, the stock fell by 6% and that decline has intensified over the past two months.ABBV's quarterly report also showed that the international sales of Humira fell by almost 15% year over year, mostly as a result of 'biosimilar' competition in Europe, which makes up three-quarters of the overseas Humira business. In October 2018, its patent in the European Union (E.U) expired.The U.S. Food and Drug Administration (FDA) refers to biosimilars as "highly similar to an FDA-approved biological product … [that has] no clinically meaningful differences in terms of safety and effectiveness." Although Wall Street had already known about this sales decline in Europe, when coupled with the other question marks in the earnings report, it was enough to increase the selling pressure on the stock.It is also possible that investors got worried about the potential fall in Humira revenue when the drug comes off patent in 2023 in the U.S. It is important to emphasize that AbbVie's revenue from the drug will not decline to nothing when the biosimilars hit the market in 2023. What will most likely happen is that as the company's pricing power decreases, the revenue will also gradually decline.Therefore, many analysts feel that ABBV shares offer value and that any bad news that is specific to Humira is already baked into the stock price. Value PlayWhen markets penalize biopharma stocks, it can take some time for them to recover. However, for patient long-term investors, the returns can be significant -- especially when the company boasts several other current drugs, as well promising ones in the pipeline.At present, AbbVie's other major products include: * AndroGel, a testosterone replacement therapy. * Creon, a pancreatic enzyme therapy to treat exocrine pancreatic insufficiency. * Duopa and Duodopa, gels to treat Parkinson's disease. * Viekira Pak, which treats chronic hepatitis C. * Zinbryta, to treat multiple sclerosis.Analysts are also expecting a slew of new products in 2020, such as next-generation immunology drugs. These drugs and others that are being developed and commercialized, highlight how impressive the potential growth story could be in the next few years.ABBV trades at a trailing price-to-earnings (P/E) ratio of 21. This number is rather modest when compared with the P/E ratios of several competitors, including AstraZeneca (NYSE:AZN) with a P/E of 49.9, Pfizer (NYSE:PFE) with a P/E of 25.2, and Merck (NYSE:MRK) with a P/E of 34.8. Reinvesting the Sweet Dividend Yield of ABBV stockIncome investors know that they can compound their returns through reinvesting dividends from high-yielding shares. AbbVie also offers investors a healthy dividend yield of about 5.4%, another reason why I believe the stock belongs in a capital-growth portfolio.Since its spin-off from Abbott Laboratories in 2013, ABBV has increased dividends every year -- a trend that is likely to continue. The next dividend payment is scheduled for May 15, 2019, with an ex-dividend date of April 12.It would not be wrong to call AbbVie a cashflow machine; as of Dec. 31, the company had a free cash flow of $3.27 billion. This strength not only gives shareholders conviction that the dividends are safe, but also provides the company with enough flexibility to, for example, make acquisitions to offset any further Humira revenue decline (especially in the U.S. when the drug comes off patent in 2023). The Bottom Line on AbbVie StockLike most biopharma stocks, AbbVie is a high-momentum stock. In other words, when the broader markets go up or when the company's earnings beat expectations, both investors and momentum traders tend to hit the "buy" button fast, expecting superior gains within days or weeks.However, if markets suffer a decline or if the company cannot keep up with the rising expectations, investors' risk appetite decreases fast and these stocks can fall much harder than less volatile stocks. * 7 Financial Stocks to Invest In Today The market has punished Abbvie stock since the start of the year. The stock may continue to struggle through much of 2019. However, patient ABBV bulls will probably be proven right to believe in the management's commitment to create shareholder value and to further grow the company both organically and through acquisitions. In the meantime, they can continue to collect high dividends.As of this writing, Tezcan Gecgil did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Financial Stocks to Invest In Today * 7 Single-Digit P/E Stocks With Massive Upside * 5 Chip Stocks on the Rise Compare Brokers The post Why You Should Buy ABBV Stock for Income and Value appeared first on InvestorPlace.
Pfizer Inc. invites investors and the general public to view and listen to a webcast of a conference call with investment analysts at 10 a.m. EDT on Tuesday, April 30, 2019. The purpose of the call is to provide an update on Pfizer’s results, as reflected in the company’s First Quarter 2019 Performance Report, to be issued that morning. To view and listen to the webcast and view the Performance Report, visit our web site at www.pfizer.com/investors.
Bristol-Myers (BMY) and partner Pfizer ) announce results from the phase IV - AUGUSTUS study evaluating Eliquis (apixaban) versus vitamin K antagonists (VKAs).
As ominous music plays in the background, the narrator of a radio ad warns that a Trump administration proposal to apply international pricing to certain Medicare drugs would be a nightmare for seniors. The one-minute spot is the handiwork of the Alliance for Patient Access, a nonprofit group that gives off a consumer-friendly vibe but is bankrolled by the powerful pharmaceutical industry. It's also closely aligned with a Washington lobbying and public relations firm, Woodberry Associates, whose president, Brian Kennedy, is the nonprofit's executive director.
AUGUSTUS is the largest trial in this high-risk patient population requiring both anticoagulant and antiplatelet therapies
The industry line is simple: Drugs cost a lot to develop and overcharging consumers is the only way to recoup the upfront investment. Recently, both Pfizer (NYSE:PFE) and Eli Lilly (NYSE:LLY) have been in the news for price-related issues. Frankly, I'm tired of hearing the industry's bellyaching. It's a big reason I'm not a fan of Pfizer stock or most pharmaceutical companies for that matter. * 15 Stocks That May Be Hurt by This Year's Big IPOs If you've owned Pfizer stock over the past ten years, you've done OK, achieving an annualized total return of 15%. Eli Lilly's stock over the same period has an annualized total return of 17.42%. PFE stock underperformed the S&P 500 by 188 basis point on an annual basis, while LLY stock was 56 basis points higher than the indexAny time a stock delivers a double-digit return over a long period, you've done well. Good for you.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Lilly's Olive BranchThis week, Eli Lilly announced that it would introduce a generic version of its Humalog insulin injection medication at half the cost of the branded product. Same stuff. Lower price. What's not to like?That's how they want you to feel. The benevolent dictator. The problem is that it doesn't fix a fatally flawed healthcare system. It merely seeks to persuade healthcare reformists to tamp down their rhetoric so drug companies can continue to reap billions off the backs of hardworking Americans. You can fear socialism all you want, but when capitalism bankrupts people due to the high cost of drugs, you're backing the second-worst horse in a race that's likely not winnable. Senator Dick Durbin said it best when he tweeted that a half-price version of Humalog was still 73% cheaper in Canada. That's not an endorsement of Canada's healthcare system, which has its issues, but rather a severe condemnation of company's like Eli Lilly, who believe a half-priced version is part of the healthcare solution. That's like going to a retail store that's selling a product at 50% off, but still making a handsome gross profit. You walk away feeling good until you find out the product you paid $50 for actually cost $10 to produce. What's This Got to Do With Pfizer?Well, I happened to come across a CBC News piece from Feb. 15 entitled, Pfizer pushes up price of birth control used by low-income women, that highlights some price increases by the company for sexual health clinics in Southwestern Ontario. For example, its Allese and Minovral birth control pills were increased in price by 114% from CAD$7 to CAD$15 a month. Its Demulen and Synphasic birth control pills increased by 186% from CAD$7 to CAD$20 a month, and its Depo contraceptive injection increased by 40% from CAD$25 to CAD$35. The company argues that manufacturing costs have risen, necessitating the price increases.However, the price increases will hurt the people most vulnerable to this type of inflationary pressure. Those visiting the clinics are generally people who don't have a family doctor or a drug benefit plan, making the increase even harder to swallow."When these costs go up, absolutely we start to wonder whether people will be able to access these medications in the same way," said Middlesex-London Health Unit (MLHU) Associate Medical Officer of Health, Dr. Alex Summers.Situations like these demonstrate why there's a push in Canada to introduce universal pharmacare. "National pharmacare isn't just a conversation about high-cost, rare drugs needed in more extreme health conditions in our lives, but also part of our everyday preventive health," said Lauren Cipriano, assistant professor of health policy studies at the Ivey Business School. The Bottom Line on Pfizer StockWhile this particular scenario might not affect you, the fact that drug companies like Pfizer continue to initiate significant price increases without any apparent justification should concern you. So should the actions of Eli Lilly, whose recent sleight of hand might fool some of the people some of the time, but it won't fool all of them all of the time. I selected Canada Goose (NASDAQ:GOOS) as my best stock of 2019 for InvestorPlace's annual stock-picking contest despite not owning it personally. I won't, because I don't agree with its use of coyote fur on the hoods of its jackets. That's my personal choice. It doesn't have to be yours. * 7 Dividend Stocks to Buy Today The same goes for Pfizer, Eli Lilly, and the rest of the pharmaceutical companies. They're not my cup of tea, but for those who don't care about their pricing practices, they are very profitable. The choice is yours. As 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 * 15 Stocks Sitting on Huge Piles of Cash * The 10 Best Stocks to Buy for the Bull Market's Anniversary * 7 Dividend Stocks With Big Yields Compare Brokers The post The Case Against Pfizer Stock and the Rest of the Industry appeared first on InvestorPlace.
The latest on developments in financial markets (all times local): 4 p.m. Stocks ended a wobbly day of trading mostly lower on Wall Street as a three-day winning streak stalled. Facebook led losses among ...
Shares of major drug makers including Pfizer Inc. (PFE), Eli Lilly & Co. (LLY), Amgen Inc. (AMGN), Novartis AG (NVS) and AbbVie Inc. (ABBV), are already dramatically lagging the broader market this year.
Theravance (TBPH) commences phase IIb/III study for its gut-selective pan- JAK inhibitor, TD-1473 in patients with moderately to severely active ulcerative colitis.
Lilly's (LLY) cancer drug, Cyramza, in combination with erlotinib significantly delays disease progression in a phase III study on previously untreated patients with EGFR-mutated metastatic NSCLC.
Aerie (AERI) gets FDA approval for Rocklatan to reduce elevated IOP in patients with open-angle glaucoma or ocular hypertension and announces its 2019 revenue and cash burn outlook.
Despite many politicians, particularly declared presidential candidates, beginning to speak out against big pharma, an FDA medical adviser does not think that anything will come out of it “because Congress is owned by pharma.”
BioNTech, Europe's largest unlisted biotech firm by staff numbers, has hired banks to prepare for an initial public offering (IPO) worth as much as $800 million as early as this year, people familiar with the plan told Reuters. Bank of America and JP Morgan have been retained as global coordinators for the planned listing on the U.S. Nasdaq exchange some time in the fourth quarter or in early 2020, the sources said.