|Bid||158.33 x 800|
|Ask||0.00 x 800|
|Day's Range||160.20 - 161.50|
|52 Week Range||114.27 - 197.00|
|Beta (3Y Monthly)||1.95|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 28, 2019 - Nov 1, 2019|
|Forward Dividend & Yield||2.96 (1.86%)|
|1y Target Est||180.13|
THOUSAND OAKS, Calif., Aug. 22, 2019 /PRNewswire/ -- Amgen (AMGN) and Allergan plc. (AGN) today announced positive top-line results from a comparative clinical study evaluating the efficacy and safety of ABP 798, a biosimilar candidate to Rituxan® (rituximab), compared to Rituxan in patients with CD20-positive B-cell non-Hodgkin's lymphoma. The primary endpoint, an assessment of overall response rate (ORR) by week 28, was within the prespecified margin for ABP 798 compared to Rituxan, showing clinical equivalence.
Endo International and Allergan could avoid going to trial in a landmark case out of Ohio accusing pharmaceutical companies of marketing practices that preceded the opioid epidemic.
(Bloomberg) -- Equity hedge funds are enjoying their strongest performance since 2009 -- with the S&P 500 index up 16% this year -- but Goldman Sachs Group Inc. warns that crowding is a risk.Funds have benefited from both a rising stock market and successful stock selection, strategists including Ben Snider and David Kostin wrote in a note Aug. 20. They’ve also concentrated their holdings into a reduced number of industries, such as health care, and into single names, particularly Amazon.com. Inc. When rallies peak, too much professional money can try to get out of the same stocks simultaneously and exaggerate declines.“Funds continue to lift portfolio weights in their top positions, which are increasingly also the top positions of other funds,” the strategists wrote. “These dynamics, along with higher leverage, lower portfolio turnover, and declining market liquidity, have boosted the performance of momentum stocks while also increasing the risk funds face from crowding.”They added that this will “make funds particularly vulnerable to a potential market unwind, particularly if accompanied by the decline in liquidity that typically coincides with falling risk appetite.”Investment banks from Goldman to Morgan Stanley increasingly study the relative positioning of funds that compete with each other to beat benchmarks. The crowding issue is in focus this month, as August has seen a spike in stock and bond markets volatility. Hedge funds rushed for safety last quarter as Treasuries rallied and concerns about economic slowdown flared, regulatory filings compiled as of last week showed.Goldman found the most popular long positions had lagged the S&P 500. The favorite short positions trailed by even more. Overall, the average equity fund return in 2019 has been 9%.Alongside the success comes some concern as well, after examining the holdings of 835 hedge funds with $2.1 trillion of gross equity positions at the start of the third quarter.Goldman found a rotation continued from technology into health care, which is now the sector with the largest overweight versus the Russell 3000 Index, which like the S&P 500, is also up 16% this year. Overweights in health care and industrials are at a 10-year high, the report said. Funds trimmed positions in semiconductors and “other stocks exposed to U.S.-China trade conflict,” according to the strategists.Also, late June and July saw a sharp rise in exposures as the Federal Reserve began to cut rates and U.S.-China trade relations appeared to thaw, the strategists said. But leverage has been trimmed again in August. While the S&P 500 rose in June and July, it’s down 1.8% so far this month. Amazon.com appeared most frequently among the 10 largest holdings of funds, followed by Facebook Inc. New names on the list of the top 50 such stocks include Allergan Plc and Micron Technology Inc.(Adds S&P 500 performance in recent months in penultimate paragraph.)To contact the reporter on this story: Joanna Ossinger in Singapore at firstname.lastname@example.orgTo contact the editors responsible for this story: Christopher Anstey at email@example.com, ;Samuel Potter at firstname.lastname@example.org, Todd White, John ViljoenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Jeffrey Ryan Stewart, the biopharmaceutical firm’s senior vice president of U.S. commercial operations, paid $1 million last week for stock trading near a 2½-year low.
Allergan's (AGN) pending merger with AbbVie, positive pipeline and regulatory updates and increase in sales guidance twice are driving shares up this year.
Endo's stock price surges after the company announces a settlement with Cuyahoga and Summit counties, removing the company from a potentially damaging trial in state court in October.
Allergan is said to be discussing paying $5 million while Endo is close to an agreement to pay $10 million, according to a report.
The NASH liver disease treatment market is growing with biotech companies like Intercept and Genfit in late-stage tests. Experts say the market for a successful drug could be worth billions.
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?
Allergan chief executive Brent Saunders disclosed the role of JPMorgan and Wachtell, Lipton, Rosen & Katz asadvisers to the company on its planned sale to AbbVie, not AbbVie chief executive Richard Gonzalez ...
Top advisory shops, including the likes of Goldman Sachs and Morgan Stanley, have long shunned activists for fear of alienating their corporate clients. As a result, shareholder activism has become a lucrative business for banks hoping to cosy up to corporates in search of future business and hefty fees.
Favorable patent ruling related to Enbrel and strong second-quarter results drive Amgen (AMGN) stock 22.6% higher in the past three months.
JPMorgan Chase is poised to collect the largest individual fee to a bank for selling a company, earning $123m for advising Botox-maker Allergan on a planned $63bn sale to US pharmaceutical group AbbVie. the $120m paid to Morgan Stanley for advising US agribusiness Monsanto on its $66bn sale to Germany’s Bayer in 2016, according to data from Dealogic. The details of the fee arrangement were disclosed by Allergan this week as it prepares for a shareholder vote on its sale to Chicago-based AbbVie.
Medical aesthetics company Evolus Inc on Monday beat Wall Street estimates for second-quarter revenue from its newly launched rival to Allergan Plc's Botox, which has dominated the medical aesthetics market for more than a decade. "We did not anticipate revenue coming in the second quarter in a meaningful way," Chief Executive Officer David Moatazedi told Reuters in an interview. Evolus, whose shares rose 1.6% in premarket trading, expects to achieve the number two market position in the next 24 months.
Evolus Inc on Monday reported revenue of $2.3 million from early sales of its newly launched rival to Allergan Plc's Botox, ahead of its own expectations. Jeuveau, a neurotoxin drug to treat forehead wrinkles, was launched on May 15 and competes with Botox, which has grown to dominate the medical aesthetics market since it was launched in 2002. Evolus has rolled out a marketing program called J.E.T (Jeuveau Experience Treatment) that ties up with medical aesthetics clinics to provide new customers with up to three shipments of the treatment for free.
Allergan (AGN) and Novo Nordisk (NVO) report Q2 results. AbbVie's (ABBV) Maviret and Sanofi's (SNY) Dupixent receive approval for new patient population in Europe.
In the absence of an approved product in Editas' (EDIT) portfolio, pipeline development remains in focus on the second-quarter earnings call.
Endo and Allergan are reportedly close to multi-million dollar settlements with two Ohio counties that named them, along with other drugmakers and distributors, as defendants in a lawsuit looking to hold the pharmaceutical industry accountable in the opioid epidemic.Yahoo Finance's Alexis Keenan joins YFi AM to discuss.
Yahoo Finance's Brian Sozzi, Alexis Christoforous, and Alexis Keenan discuss the impending settlement between the state of Ohio and two pharmaceutical companies over the opioid crisis.