36.35 -0.02 (-0.05%)
Pre-Market: 8:33AM EDT
|Bid||36.38 x 4000|
|Ask||36.52 x 3200|
|Day's Range||36.26 - 36.72|
|52 Week Range||33.97 - 46.47|
|Beta (3Y Monthly)||0.43|
|PE Ratio (TTM)||16.81|
|Earnings Date||Oct 29, 2019|
|Forward Dividend & Yield||1.44 (3.95%)|
|1y Target Est||42.64|
Presentations of interest include a late-breaking abstract on expanded Phase 3 data in BRAF-mutant metastatic colorectal cancer
Merck (MRK) receives accelerated approval for label expansion of Keytruda in combination with Lenvima for treating certain types of endometrial carcinoma. Its Ebola vaccine BLA gets priority review.
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, October 29, 2019. The purpose of the call is to provide an update on Pfizer’s results, as reflected in the company’s Third 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.
While the vast majority of our Ultimate Stock-Pickers are not dividend investors, a handful of them--Amana Trust Income AMANX , Columbia Dividend Income LBSAX , Oakmark Equity & Income OAKBX , and Parnassus Equity Income PRBLX --focus more heavily on income-producing stocks in their pursuit of investment return. Warren Buffett at Berkshire Hathaway BRK.B has spoken highly of companies that return capital to shareholders and is not against investing in and holding higher-yielding names, with three of Berkshire's top five holdings--wide-moat rated Wells Fargo WFC , Bank of America BAC , and Coca-Cola KO --accounting for about one third of the insurer's equity portfolio and yielding more than the S&P 500. As you may recall from previous articles, when we screen for top dividend-paying stocks among the holdings of our Ultimate Stock-Pickers, we try to find the highest-quality names that are currently held with conviction by our top managers.
Members of the media planning to attend the conference were told Friday that Gottlieb’s comments was “candid and off-the-record, not to be recorded,” according to an email sent to the Business Journal.
The FDA approves new warnings about inflammation risk to be added to labels of Pfizer's (PFE) Ibrance, Eli Lilly's (LLY) Verzenio and Novartis' (NVS) Kisqali.
Glaxo's (GSK) Nucala gets FDA nod for use in kids. Pfizer (PFE), Allergan (AGN) & Roche (RHHBY) give regular pipeline/regulatory updates.
With the help of broad-based leadership, the major U.S. equity benchmarks rallied Wednesday amid a flurry of decent headlines. Today's leadership came by way of the technology and healthcare sectors, the two largest sector weights in the S&P 500, with some contributions from the defensive, high-yielding utilities group.Source: Shutterstock President Donald Trump took to Twitter (NYSE:TWTR), something that doesn't always end well for investors, to encourage the Federal Reserve to take interest rates to zero or even negative. It's unlikely the Fed follows the advice of going to negative rates, at least not anytime soon, but another rate cut does appear imminent if Fed funds futures are to be believed. * 10 Stocks to Sell in Market-Cursed September Adding to today's ebullience was news out of China that the country will exempt certain U.S. goods from 25% tariffs that were deployed last year. This is the latest sign that the trade talks the two countries are expected to hold next month could actually happen and that the results could be positive.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThose catalysts were enough to send the Nasdaq Composite higher by 1.06% while the S&P 500 gained 0.72%. The Dow Jones Industrial Average jumped 0.85%. Much of the strength in the blue chip index was attributable to its larger components as, in late trading, just 16 of the Dow's 30 residents were trading to the upside. Boeing Triumphs AgainTry as I might to mention different Dow names from day-to-day, Boeing (NYSE:BA) is the index's largest component and when it's the best-performing Dow stock on a given day, as it was Wednesday, it bears mentioning.The aerospace and defense giant rallied 3.50% today after CEO Dennis Muilenberg made some positive though not earth-shattering comments about Boeing's efforts to get the 737 MAX jet back in the skies."We're continuing to make solid progress on return to service," said the CEO at an investor conference in California. "We're actively engaged with regulators around the world and day-to-day working with the FAA on return-to-service timing." AAPL Stock Hits $1 Trillion AgainA day after its new product launch event, Apple (NASDAQ:AAPL) performed better than it did yesterday, gaining 3.18% to rank as the second-best Dow performer behind Boeing, pushing the stock back into the exclusive $1 trillion market value club for the first time this year. Predictably, analysts were chatty about Apple stock today following news of iPhone enhancements and that the Apple + streaming service will be less expensive, at least for now, than competing options.Needham analyst Laura Martin reiterated her "strong buy" rating on Apple stock while boosting her price target to $250 from $225, implying upside of more than 10% from Wednesday's close. Encouraging SignAs noted earlier, the healthcare sector was a big contributor the broader market's Wednesday upside and three of the Dow's four healthcare names traded higher today with Pfizer (NYSE:PFE) being the only offender of the quartet.Granted, it's just one day, but it's nice to see some strength in the pharmaceuticals stocks because this group could face more headwinds as the 2020 presidential campaign unfolds. With that in mind, House Democrats are looking for ways cobble together a plan that would alter how Medicare pays for drugs while President Trump has and will continue to tout falling drug prices.While brand name prices are still increasing, the president can lean on declining generic prices in what is sure to be a hot-button campaign issue. This is a bipartisan issue, rare as those are, and that presents some risks going forward. Bottom Line in Dow Jones TodayI recently mentioned signs that value stocks are making a comeback against their growth rivals. Some market observers may overstate the consequences in that scenario. It's not all bad when considering decent percentages of the Dow Jones Industrial Average and S&P 500 are classified as value stocks.What would be positive for the sustainability of this mini-rally is strength in maligned small caps and that scenario is emerging. The Russell 2000 Index jumped more than 2% and that could be a sign stocks are poised to defy usually gloomy September expectations. Importantly, that index came into Wednesday with a gain of almost 5% over the past week.Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Sell in Market-Cursed September * 7 of the Worst IPO Stocks in 2019 * 7 Best Stocks That Crushed It This Earnings Season The post Dow Jones Today: Plenty of Good News appeared first on InvestorPlace.
Merck KGaA's prospective lung cancer treatment tepotinib became the third drug against a rare and aggressive subtype of the disease that won U.S. Food and Drug Administration's breakthrough therapy designation. Novartis last week won the breakthrough therapy tag, which puts it on a fast track for regulatory review, for its capmatinib drug. Pfizer's Xalkori drug was given the designation https://www.pfizer.com/news/press-release/press-release-detail/pfizer_s_xalkori_crizotinib_receives_fda_breakthrough_therapy_designation_in_two_new_indications-0 last year.
Pfizer (PFE) announces positive preliminary data from mid-stage study evaluating its 20-valent pneumococcal conjugate vaccine in infants. Completes enrollment in late-stage studies on the vaccine in adults.
The House Speaker Nancy Pelosi drug pricing plan aims to turn the 2020 election into a referendum on Big Pharma and Medicare drug prices.
ACADIA Pharmaceuticals' (ACAD) Parkinson's psychosis drug, Nuplazid, meets primary endpoint earlier than expected in late-stage label expansion study evaluating it in patients with dementia-related psychosis.
In the two-year study of 350 subjects who had taken two previous cancer treatments, Aveo Oncology's renal cell carcinoma treatment tivozanib was linked to a lower risk of death than the current standard of care.
The past several weeks have been raucous ones for all stocks, but particularly wild ones for healthcare stocks. Not only is the future of the nation's healthcare market in flux, drug companies are facing an inordinate degree of litigation, and biopharma names have dished out plenty of R&D updates … some good, some bad.By and large, the bearish market-wide tide and the weakness healthcare stocks have suffered has become something of an opportunity. A handful of these names have become bargains and are ripe for recoveries. * 10 Stocks to Sell in Market-Cursed September To that end, here's a rundown of ten healthcare stocks to buy, even if they're surrounded by bad news and grim headlines. Some are familiar, and others are not. All of them, however, arguably boast more potential than risk at this time, even if not all of them have yet to reach their worst-case-scenario price.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Johnson & Johnson (JNJ)Source: Sundry Photography / Shutterstock.com Johnson & Johnson (NYSE:JNJ) has arguably faced the worst and most alarming headlines of late, facing not one but two major legal battles.The first one of course is its liability linked to asbestos contained in its talcum powder sold under the brand name Johnson & Johnson. The other? Some states' attorneys general are suggesting J&J was culpable for what's turned into a nationwide opioid addiction epidemic. A closer inspection of both matters reveals the ultimate liability for both may not be as dire as is currently believed.Though the state of Oklahoma recently won a case that will fine Johnson & Johnson $572 million for allowing opioid abuse to become a "public nuisance," that figure was smaller than shareholders had feared, and may point to similarly small figures in other state-level cases.As for its talcum powder woes, the company is prevailing in some state courts, and losing in others. With the exception of one case in California, the awards granted in cases it has lost have been relatively modest. AbbVie (ABBV)Source: Piotr Swat/Shutterstock AbbVie (NYSE:ABBV) shares are down nearly 50% from their early 2018 high, reaching another multi-month low in August.The underpinnings for that weakness aren't difficult to deduce. Aside from an increasingly tough battle to defend its patents on breadwinner drug Humira, the decision to acquire Allergan (NYSE:AGN) hasn't been a particularly popular one with shareholders.ABBV stock owners have also been disappointed by a couple of major busts on the R&D front. The company's work in turning Rova-T into a successful lung cancer treatment, for instance, was thrown away when AbbVie ended phase 3 trials after it failed to create meaningful results. * 7 "Boring" Stocks With Exciting Prospects The punishment, so to speak, hasn't fit the crime though. AbbVie now quietly rates as one of the top healthcare stocks to buy at its now greatly-lowered price thanks to a dividend yield of 6.44% that's reasonably well protected, and a forward-looking P/E of only 7.. CVS Health (CVS)Source: Shutterstock Admittedly, it remains unclear which sliver of the healthcare market will be the one to bear the brunt of any cost-cutting reform. Hospitals and insurers are just as targeted as pharmacy names like CVS Health (NYSE:CVS), which is a key part of the reason CVS stock has been nearly cut in half since the middle of 2015.That doubt is rooted in a paradigm shift that isn't likely to happen, however, or at least not as abruptly as some are fearing.Case in point: Just days after announcing plans to eliminate the rebate enjoyed by pharmacies and pharmacy benefits managers, President Donald Trump backpedaled. Although it's not clear where the pressure for the reversal came from, clearly someone is in the industry's corner.In the meantime, CVS is preparing for all contingencies. It now owns health insurer Aetna and is tiptoeing into the medical device arena. In July the company announced it was beginning trials of an at-home kidney dialysis solution. Bausch Health Companies (BHC)Source: n4i Via FlickrYou may recognize the name as one that has specialized in eye care for a long time now. And Bausch -- Bausch + Lomb, to be precise -- certainly still makes contact lenses and eye-surgery products. This is not the Bausch Health Companies (NYSE:BHC) in question, however. While Bausch Health owns and operates Bausch + Lomb, the Bausch that has earned a spot on a list of healthcare stocks to buy is actually the company formerly known as Valeant Pharmaceuticals.That name will also ring a bell for most investors … although not a good one. That's the company that went on an aggressive acquisition spree, planning on buying specialty drugs to then mark their price up to unnecessarily expensive levels.In addition to public outcry, congress got involved, ultimately forcing then-CEO Michael Pearson out, and forcing new CEO Joseph Papa to rebuild everything the company is, and does. * 7 Best Stocks That Crushed It This Earnings Season Surprise! He's doing it. Though it's still erratic and somewhat unpredictable, sales are expected to grow 1.6% this year, and 3% next. It's not much, but it's enough to drive real earnings growth. Intercept Pharmaceuticals (ICPT)Source: Shutterstock Intercept Pharmaceuticals (NASDAQ:ICPT) isn't an easy name to own. Although the biopharma outfit is driving major sales growth with its chronic liver disease drug Ocaliva, the company's a one-trick pony that's still losing money. Last quarter's top line of $66.3 million -- mostly Ocaliva -- was up 53% year-over-year, but still let Intercept book an operating loss of $63.6 million and a total net loss of $71.4 million.In this case though, the company's fiscal trajectory against the backdrop of an obesity epidemic translates into a bright future. Intercept Pharmaceuticals is also working on a nonalcoholic steatohepatitis (NASH) drug that takes aim at what is expected to be the leading cause of liver failure by 2020. That under-served market could be worth $50 billion, if not more, leaving this company amazingly well-positioned for growth. Pfizer (PFE)Source: Manuel Esteban/Shutterstock Stripping out last month's 20% stumble, Pfizer (NYSE:PFE) has been a pretty good bet in recent years. Thing is, the aspects that have made PFE stock one of the best healthcare stocks to buy for a long while now are still in place. That is, a diverse portfolio that doesn't lean too much on any one drug. No one product accounts for more than 10% of the company's total revenue.The selloff, for the record, was spurred by the decision to sell its 'off patent' drug business operating as Upjohn to rival Mylan (NASDAQ:MYL). The downside of that exit appears to be fully priced in now though, and then some. * The 8 Worst Stocks to Buy Before the Trade Turmoil Cools Off In the meantime, a $500 million investment in a North Carolina manufacturing facility pushes the company deeper into gene therapy waters, which may offer more upside than existing business lines. PRA Health Sciences (PRAH)Source: Shutterstock When investors thinks of healthcare stocks, PRA Health Sciences (NASDAQ:PRAH) isn't a name that generally comes to mind. Indeed, most investors may have never even heard of it.The one who have heard of it, meanwhile, might be wishing they hadn't. Even with this year's choppy rebound effort, shares of the contract research organization are still down 19%.A bet against PRA Health Sciences hasn't been a particularly wise bet in the grand scheme of things. Contracted research is a key part of the future of healthcare, as outsourcing R&D becomes the more cost-effective solution.PRA Health has the numbers to prove it, too. This year's expected 6.4% revenue growth isn't jaw-dropping, but it's reliable, as will be next year's projected 8.4% top-line growth. Better still, that progress is driving even greater profit growth. Per-share profits are expected to reach $5.03 this year, up from last year's $4.28, and grow 13% to $5.68 per share next year. Alexion Pharmaceuticals (ALXN)Source: Shutterstock Last week, Alexion Pharmaceuticals (NASDAQ:ALXN) shares started what would end up becoming a 14% plunge. The selloff may not be done yet either. The prod? Amgen (NASDAQ:AMGN) is challenging Alexion's patent on Soliris, which is used to treat a trio of rare diseases. It makes up the bulk of Alexion's sales.It's an alarming development, although not one that's necessarily devastating. Right or wrong, running patent-based interference meant to disrupt other companies is the new norm within the pharmaceuticals arena, and there's not necessarily any assurance that Amgen will prevail. The chatter that Amgen could make an acquisition bid for Alexion still has its merits as well. * 10 Buy-and-Hold Stocks to Own Forever In the meantime, the forward-looking P/E of 9.9 suggests ALXN is priced cheaply enough to survive any profit-sharing agreement that Amgen may end up pursuing instead of an outright legal victory. Cigna (CI)While pharmacies and pharmaceuticals are certainly vulnerable to any sweeping overhauls in the way the United States healthcare industry works, it's not like the insurers are particularly well-shielded. Cigna (NYSE:CI), for instance, is down more than 30% since its early 2018 high on concerns about insurers' futures, after they all had a pretty good run between 2013 and 2017.Not everyone is concerned about one of a myriad of 'maybes' that could impact Cigna though.Alliance Bernstein analyst Lance Wilkes is one of those optimists. He recently upgraded CI stock while it was down, re-rating it at an "Outperform," explaining "We are increasing our price target and rating on [Cigna] based upon earnings growth driven from deal synergies and its low valuation, which we believe offset our [long term] concerns on policy risks and strategic position."CI stock is trading at only 14 times its trailing earnings, and only 8.2 times next year's expected profits. Eli Lilly (LLY)Source: Shutterstock Finally, add drugmaker Eli Lilly (NYSE:LLY) to your list of healthcare stocks to buy despite a recent wave of bad news.For Lilly, that's mostly been spurred by pipeline and portfolio questions. In March it announced it would launch a cheaper alternative to its own top-selling Humalog insulin, and early this year it decided to acquire Loxo Oncology at an unpopularly frothy premium.There's a reason that slide suffered during the first half of the year has started to reverse course beginning in early August. Not only did Lilly win the outcome it wanted in a recent arbitration claim regarding a collaboration it entered with Adocia to develop rapid-acting insulin, a phase 3 trial of its oral JAK inhibitor Baricitinib as a therapy for atopic dermatitis showed tremendous promise with last month's update.They're little victories that can really add up in investors' heads.As of this writing, James Brumley held no position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Sell in Market-Cursed September * 7 of the Worst IPO Stocks in 2019 * 7 Best Stocks That Crushed It This Earnings Season The post 10 Healthcare Stocks to Buy Despite the Headlines appeared first on InvestorPlace.
(Bloomberg) -- Drugmakers from Merck & Co. to Pfizer Inc. were under pressure in Tuesday’s trading after documents showed House leader Nancy Pelosi’s drug pricing plan appears skewed “to the more aggressive side,” according to Evercore ISI’s Michael Newshel.Veda Partners analyst Spencer Perlman wrote that the plan is “scary, but unpassable” although there is “a palpable fear among some investors that Speaker Pelosi and President Trump may have a mind meld on drug pricing.” Newshel said the draft’s harsh stance makes it “even less realistic for the near-term window for legislative action likely closing by year-end.”The iShares Nasdaq Biotechnology exchange-traded fund and the Health Care Select Sector SPDR Fund both fell at lest 1.1% at 9:50 a.m. in New York. Large-cap pharmaceutical companies Merck, Eli Lilly & Co., Bristol-Myers Squibb Co. and Pfizer all traded lower.Here’s what analysts are saying:Veda Partners, Spencer PerlmanCongress faces a difficult path for “any substantive drug pricing legislation that incorporates direct government negotiation in Medicare Part D, let alone policies that impact pricing in the commercial market and use the tax code punitively to cudgel manufacturers.”Sees Speaker Pelosi as “highly unlikely to deliver the Holy Grail of Democratic healthcare policy to a Republican President who is loathed by the Democratic base on the eve of an extremely competitive election.”“It will be quite challenging to identify policies that can secure 218 votes in the House and 60 votes in the Senate. The math becomes even more problematic because Speaker Pelosi must appease both the House Progressive Caucus and her moderate flank.”Raymond James, Chris Meekins“The proposal reinforces our belief that nothing on drug pricing will be done before the 2020 election”Has a hard time imagining the proposal will pass “without being significantly watered down” even if Democrats can win control of both the White House and the Senate.“This is the most aggressive drug pricing plan we have seen proposed in Congress from a senior official.”Evercore ISI, Michael Newshel“This document skews to the more aggressive side, as Pelosi tries to balance demands of more progressive Democrats in the House and talks with the White House.”“However, more aggressive provisions make the bill’s fate even less realistic for the near-term window for legislative action likely closing by year-end, with any kind of government negotiating provisions highly unlikely to pass the current Senate.”Cowen, Rick WeissensteinPlan “clearly has moved left in an effort to appease progressives” but stands little chance of being enacted this year, even if Trump supports it.“The endgame is unlikely to happen until late December. The biggest unknown remains what Speaker Pelosi wants to do. If she wants to enact legislation, it would almost certainly have to look like the Senate version rather than her measure.”Height, Hunter Hammond“The plan, which would constrain the ability of drug manufacturers to maintain and raise prices and change Medicare benefit designs, looks awfully similar to the Senate Finance Committee’s proposal and President Trump’s International Pricing Index (IPI) model” though it is more aggressive on several fronts.Evercore ISI, Umer Raffat“The sheer ambitiousness of the proposals does make one wonder: was it intended to get something done? or was it intended to provide armor in an election year?”Highlights that top 150 drugs in Part D include Celgene Corp.’s Revlimid, Bristol-Myers’s Eliquis, Merck’s Januvia, Johnson & Johnson’s Xarelto, and Gilead Sciences Inc.’s Harvoni.(Updates share movement in third paragraph)To contact the reporter on this story: Bailey Lipschultz in New York at firstname.lastname@example.orgTo contact the editor responsible for this story: Catherine Larkin at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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Additionally, Pfizer Has Completed Enrollment of its Phase 3 Studies for its 20-Valent Pneumococcal Conjugate Vaccine Candidate Being Inv