|Bid||38.26 x 2900|
|Ask||38.41 x 1200|
|Day's Range||38.22 - 38.52|
|52 Week Range||33.97 - 44.90|
|Beta (3Y Monthly)||0.65|
|PE Ratio (TTM)||13.54|
|Earnings Date||Jan 27, 2020 - Jan 31, 2020|
|Forward Dividend & Yield||1.44 (3.79%)|
|1y Target Est||41.45|
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...
AbbVie stock fell on its $63 billion plan to acquire Botox-maker Allergan, which helps the pharmaceutical company diversify as Humira patents expire. So, is ABBV stock a buy right now?
Pfizer stock has tumbled, below other pharmaceutical stocks. Recent news has been upbeat with a drug approval and acquisitions. But the question remains: Is Pfizer stock a buy right now?
Astellas Pharma is paying $60 a share in cash for a gene-therapy stock that closed at $28.61 on Monday.
Merck's (MRK) sBLA for Keytruda gets FDA's priority review status to treat certain patients with high-risk, non-muscle invasive bladder cancer.
AstraZeneca's (AZN) Imfinzi, if approved for extensive-stage small cell lung cancer, can cater to a broader lung cancer patient population, which can bring in additional sales.
(Bloomberg Opinion) -- Drugmakers have spent years de-emphasizing heart medications in favor of higher-priced treatments for cancer and rare diseases. As America enters its most caloric season, it looks like that is starting to change, for now. Novartis AG made a particularly large commitment Sunday with its $9.7 billion purchase of Medicines Co. and its promising new cholesterol drug. Meanwhile, biotechnology company Amarin Corp.’s bet on its fish-oil-derived capsule Vascepa is starting to pay off: Its shares soared earlier this month after a Food and Drug Administration panel recently suggested the pill — which was shown to cut cardiac risk in a huge trial last year — be made available to millions of additional patients. Heart medicines are also key pipeline components or sales drivers at a number of big pharmaceutical companies as well, from Merck & Co. and Bayer AG to Pfizer Inc.Investment in cardiac medicines is positive for patients and public health; after all, heart disease remains the most significant cause of death in the U.S. There’s a reason that drugmakers had backed away, however. These companies will have to navigate a harsh market environment to keep this mini-renaissance alive. Effective heart disease medicines, including statins for cholesterol and drugs for high blood pressure, have become much cheaper as generic options have hit the market. That’s excellent for patients and health budgets, as expanded use of these drugs has been impactful enough to slow Medicare spending growth. But it makes things difficult for newer, higher-priced medicines to make inroads. Next-generation drugs need to prove they can add something on top of or substantially outperform cheaper options to have a chance at anything but niche success. They sometimes still struggle even if they do. Cardiovascular drugs take time to have an impact, and the American health-care system isn’t patient. People change health insurance all the time as they swap or lose jobs, pick a new plan, or have one selected for them. Health plans often focus on annual costs and don’t always want to pay extra for an uncertain benefit that might eventually save someone else money. That tendency is most pronounced in large markets, where rapid uptake of a new drug translates into substantial spending increases.Two relatively new cholesterol drugs — Praluent, from Sanofi and Regeneron Pharmaceutical Co., and Amgen Inc.’s Repatha — are the most significant recent cautionary tales. They were both approved in 2015 with high expectations and are effective medications, but the market balked at their high price and threw up barriers to access. The result was a glacial launch. Sales remain sluggish even after major price cuts. Medicine Co.’s inclisiran lowers cholesterol at a similar rate by using the same drug target as those medicines but requires far less frequent dosing. Novartis will have to find out whether convenience is enough to command a premium price and avoid the same commercial fate. As for Amarin, a drug-price watchdog called Vascepa a rare cost-effective option for heart disease earlier this year. That doesn’t guarantee a rapid ascent to blockbuster sales. The drug’s future is partially in the FDA’s hands. The exact language of the agency’s expanded approval will help determine how many new patients will get access. The bigger part is arguably once again up to health plans. They will decide how strictly to interpret the FDA’s guidelines, and whether patients will have to jump through hoops to get the medicine. The size of the potential patient population may inspire them to clamp down, cost-effectiveness be damned. The barriers to heart drugs are navigable. Novartis was likely inspired to pay up for Medicines because it managed the feat with its heart-failure treatment Entresto. Sales of the drug started extremely slowly, but are now growing at a respectable clip. There is a clear opportunity in this somewhat neglected space. Profiting from it might require a high risk tolerance and an extra measure of patience. 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.
Before we spend days researching a stock idea we like to take a look at how hedge funds and billionaire investors recently traded that stock. Russell 2000 ETF (IWM) lagged the larger S&P 500 ETF (SPY) by more than 10 percentage points since the end of the third quarter of 2018. This means hedge funds […]
Authorities released a new list of medicines that China’s government health system will pay for. The prices are significantly below U.S. and international norms.
Biotech stocks had a fairly robust November, with the iShares NASDAQ Biotechnology Index (NASDAQ: IBB ) advancing over 10% for the month. This compares to the 3% gains for the S&P 500 Index. The month ...
The UK’s competition regulator is trying to reinstate a record £90m fine against drug companies Pfizer and Flynn for raising the price of an anti-epilepsy drug by up to 2,600 per cent, after its decision was overturned last year. The case pits the regulator against big pharma and could set a precedent determining the extent to which UK and European competition regulators can limit drug pricing. It hinges on the price of phenytoin sodium pills, used by roughly 48,000 epilepsy patients in the UK to control seizures.
Pfizer Inc. (NYSE: PFE) today announced the efficacy and tolerability results from the subgroup analysis of Asian patients enrolled in the ARCHER 1050, a randomized, multicenter, multinational, open-label Phase 3 study evaluating the efficacy of VIZIMPRO® (dacomitinib) -- an epidermal growth factor inhibitor (EGFR) tyrosine kinase inhibitor (TKI) -- as first-line monotherapy in patients with locally advanced or metastatic non-small cell lung cancer (NSCLC) with EGFR-activating mutations. The results, which were announced at ESMO Asia Congress 2019, show significant prolongation of progression-free survival (PFS); and an extended follow-up demonstrated significant improvement in overall survival (OS) with first-line dacomitinib versus gefitinib in Asian patients with EGFR-positive advanced NSCLC.