|Bid||68.25 x 1400|
|Ask||68.59 x 1800|
|Day's Range||68.10 - 68.82|
|52 Week Range||65.06 - 100.23|
|Beta (3Y Monthly)||0.77|
|PE Ratio (TTM)||19.52|
|Earnings Date||Jul 26, 2019|
|Forward Dividend & Yield||4.28 (6.27%)|
|1y Target Est||84.92|
AbbVie (ABBV) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
J&J (JNJ) and Novartis (NVS) set the earnings season in motion for the pharma space. FDA approves Merck's (MRK) new combination antibacterial injection, Recarbrio.
(Bloomberg Opinion) -- Slimming down appears to be paying off for Novartis AG. CEO Vas Narasimhan has refocused the Swiss pharma giant around drugs by selling off eye-care business Alcon and its remaining consumer-health interests. Second-quarter earnings that beat Wall Street expectations Thursday and a big guidance boost showed the benefits of the strategy. Shares hit an all-time high in early trading even though the stock was already up over 20% year to date to that point and trades at a premium to peers. Novartis is benefiting from greater exposure to its drug business, which has more potential than the units it ditched. Simpler businesses are easier to understand and value, so it makes sense that the market has responded well to these moves. At this price, though, the strategy inherently exposes investors to more downside and volatility. The reason some drugmakers diversify is to add steadier revenue so they can better weather the booms, busts, and worrying product concentration that come with developing novel medicines. Novartis has a robust set of newer drugs, which is likely why it felt confident enough to get rid of other units. It has supplemented its arsenal further with a series of acquisitions as it continues its strategy by slimming down generic unit Sandoz.Psoriasis drug Cosentyx and heart medicine Entresto are the two drugs most key to the company’s near-term success. They helped drive the pharma unit’s 9 percent sales growth in the second quarter relative to the same period last year. There are high expectations for continuing growth, but they come with significant risks.A new rival from AbbVie Inc. recently entered the already crowded market Cosentyx competes in, and others are on the way. While Entresto has turned from a slow starter to a growing success story, a big chunk of its potential depends on expanding to new markets. Results are due from a late-stage trial in a new indication in the next few months. Positive indications will help justify the company’s current valuation. A failure could bring current momentum for the drug and Novartis’s more exposed stock screeching to a halt. Also, growth may not look as robust when sales begin to decline for two other blockbusters – cancer drug Afinitor and multiple sclerosis medicine Gilenya – in the next few years. That puts weight on the company’s most recent launches and pipeline. Those new products may be able to bear it; the company had a breast cancer drug, an MS medicine, and a groundbreaking gene therapy approved in the first half of the year. Late-stage data is due in the near term for potential blockbuster asthma and eye drugs as well as another MS drug. Still, weak launches or disappointing data could erode confidence in the company’s growth trajectory. Novartis executed its transition to a pure pharma firm well. There’s still a chance that the rapturous investor response is in part a sugar high. 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.
AC Immune (ACIU) initiates phase I study of ACI-3024, a Tau Morphomer inhibitor, for the treatment of neurodegenerative diseases like Alzheimer's disease.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
AbbVie (ABBV) has been upgraded to a Zacks Rank 2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
J&J (JNJ) beats estimates for both earnings and sales in the second quarter of 2019 and raises 2019 guidance for operational sales growth for the second time this year.
Bernstein analyst Ronny Gal says the spread between the current stock price and AbbVie’s offer is fair and it is time to take the foot off the gas.
AbbVie (NYSE: ABBV ) said Monday it acquired Seattle-based biopharmaceutical company Mavupharma for an undisclosed amount. Mavupharma is focused on approaches to target the STING (STimulator of INterferon ...
NORTH CHICAGO, Ill., July 15, 2019 /PRNewswire/ -- AbbVie (ABBV) announced today that it has acquired Seattle-based Mavupharma, a privately held biopharmaceutical company focused on novel approaches to target the STING (STimulator of INterferon Genes) pathway for the treatment of cancer. STING pathway signaling plays an important role in the generation of an immune response directed at tumors, and enhancing STING signaling has shown promise in a variety of tumor models. STING pathway stimulation has the potential to increase the susceptibility of tumors and broaden treatment options for patients.
The FDA accepts Neurocrine's (NBIX) NDA for opicapone, developed as an adjunctive treatment to levodopa/carbidopa for patients with Parkinson's disease, who currently experience OFF episodes.
NORTH CHICAGO, Ill. , July 11, 2019 /PRNewswire/ -- AbbVie (NYSE: ABBV), a research-based global biopharmaceutical company, will announce its second-quarter 2019 financial results on Friday, July 26 before ...
J&J's (JNJ) cancer drugs should continue to perform well in second-quarter 2019. Generic/biosimilar headwinds will hurt Pharma unit's sales.
Here are two pharmaceutical companies that are presently being downgraded by analysts but that are expected to gain strength as the year progresses. It’s an inversion of the axiom, “Past performance is not guarantee of future results.” The risk of investing in them may be large but so are the potential rewards for farsighted investors. AbbVieAbbVie (ABBV) has been experiencing a drop in its shares for the last several months. The major reason for its decline is its biologic immunology drug Humira accounting for the biggest part of its revenue.Humira sales have been weaker lately. Rated as one of the top-selling drugs in 2018, Humira started losing a competition with cheaper medicines in 2019. In the first quarter of this year, it brought in revenue of $4.45 billion, which is 5.6% less than the company’s last year revenue.AbbVie faced other setbacks. Its cancer drug Rova-T failed to become a great commercial success. AbbVie’s testing of Venclexta, a multiple myeloma drug, was not successful either and negatively affected its stock. Over the past 12 months, AbbVie’s shares dipped 14%. Its net earnings decreased to $1.65 per share in the first quarter of 2019, from $1.74 per share a year earlier.On June 25, AbbVie announced a definitive agreement to acquire Allergan (AGN) in a cash and stock transaction for a total consideration of $63 billion. The news worked to its financial disadvantage. As soon as AbbVie’s intentions became known, its stock sank 16%, because investors estimated its plans as a mistake. When investors recovered from the news, AbbVie’s stock went up - but only slightly so. As a result, for the last six months, analysts have strongly been advising to put any investment in AbbVie on hold. As of writing, the average price given by analysts to the company’s shares is $79.33, with only 10.95% upside. Yet there are positive signs that AbbVie can soon stop its downward progression. It has recently signed lucrative deals with Mylan NV and Amgen Inc (AMGN). It is also working on a new cancer drug called Imbruvica. The drug may help move abnormal B cells out of their nourishing environment in the lymph nodes, bone marrow, and other organs.In June, Imbruvica was ranked as the fifth drug thought to become a blockbuster in the near future. According to EvaluatePharma, AbbVie’s new drug may bring it $9.5 billion in sales in 2024. The company’s two other drugs – Orilissa and Skyrizi – are also expected to sell well and thus enlarge its profits. After the projection made by EvaluatePharma, Goldman Sachs analyst Terence Flynn increased his price target to $84. He thinks that the sales from AbbVie’s cancer drugs and new immunology drugs will generate enough revenue to balance out the losses brought by Humira. Other analysts hope for the company’s strength, too. As AbbVie approaches its Q2 earnings release, analysts expect that it will report $2.21 per share, which would represent year-over-year growth of 10.5%. The blogger Wolf Report agrees: “ I'm bullish on AbbVie. It remains one of my largest pharma stocks, and I'm willing to add more, should the opportunity present itself. And I believe that it now has, and may even improve going forward.”Analyst Ratings & Price Targets on AbbVie BiogenBiogen (BIIB) had a rough start of the year. Within the first six months of 2019, the company tumbled by 22.3%, erasing 17 billion in valuation. There are several reasons for Biogen’s unsightly decline. One is the failure of the Alzheimer’s project aducanumab. At two late-stage trials it became clear that the anti-amyloid MAb, which Biogen believed would clear amyloid lesions, could not prevent the disease.Biogen’s shares also dropped because of the competition with Novartis (NVS). Its drug Spinraza that cures pediatric spinal muscular atrophy and generates the bulk of its profits can be upstaged by Novartis’s recently approved medicine Zolgensma. The Institute for Clinical and Economic Review (ICER) said in January that Zolgensma, which also treats spinal muscular atrophy in small children, could be more cost-effective than Biogen’s drug with a one-time price of $2 million. Biogen’s multiple-sclerosis franchise also failed to live up to its promise, undermined by a competition with such companies as Roches and Novartis. A preferable alternative to Biogen’s main MS medicines, Tysarabi and Tecfidera, Roches’ drug Ocrevus has been diminishing Biogen’s profits since the third quarter of 2017. This year, the competition between the MS medicine producers intensified, when Novartis introduced Mayzent that costs about $88,500 a year. This is about 7% less than Biogen’s Tysarabi and Tecfidera.But Biogen still has several ongoing medical trials to its credit. It is presently developing its next MS medicine Vumerity, whose approval might happen later this year. Investors may also follow Biogen’s earlier-stage pipeline for inherited disease of the eye, pain management, and cardiovascular disease. Biogen might also make several acquisitions in 2019. There are rumors that its recent purchase of Nightstar Therapeutics, a gene therapy company, will be followed by other acquisitions. Analysts suggest that such companies as Neurocrine Bioscience (NBIX), Sage Therapeutics (SAGE), and Ionis Pharmaceuticals (IONS) would enhance Biogen’s holdings. But even if no additional purchase is made, Nightstar Therapeutics can become for Biogen a useful springboard for building an eye disease franchise that will push its profit up in the coming several years. True, some analysts advise not to invest in Biogen for the time being, but there are others who are bullish on its stock. H.C. Wainwright analyst Andrew Fein maintains a Buy rating on Biogen, with a price target of $300. Analyst Ratings & Price Targets on Biogen Inc
Congress will be voting Wednesday on a repeal of what is known as the “Cadillac Tax," which is a provision of the Affordable Care Act that would place a 40% tax on employer-sponsored health care plans that provide excess benefits. Yahoo Finance's Anjalee Khemlani breaks down what the provision does and what could come from the vote.