The Republican win is an unexpected event that will ironically add to an already long list of headwinds Valeant Pharmaceuticals (NYSE:VRX) faces. Markets are now pricing in interest rate risks in the entire biotechnology sector. As interest on debt costs go up, biotech stocks in the early innings of drug development will have less money available for funding their clinical studies. Markets reacted badly to Valeant's failure to solidify a sale of Salix Pharmaceuticals to Takeda, because the $30 billion will cost more to service in the years ahead. Valeant faces headwinds from high debt levels, but investors should still anticipate the turnaround is in progress.
1/ Valeant's alternative to Salix sale
In Salix's present form, Takeda instinctively gave Valeant a low-ball offer for two reasons. First, it believed Valeant would willingly take over a billion in a goodwill write-down by selling Salix for $10 billion or less. Valeant already took a goodwill write-down in the last quarter, a move that includes some of Salix's value.
Top 5 Biotech Stocks To Watch For 2019: Biogen Idec Inc(BIIB)
Advisors' Opinion:- [By ]
What should investors do with shares of Celgene (CELG) , Biogen Idec (BIIB) , Gilead Science (GILD) and Regeneron (REGN) ? Cramer once proclaimed these high-fliers his "four horsemen of biotech," but lately they've lost all of their traction, with Celgene down 21%, Biogen off 14%, Gilead down 9% and Regeneron off 23% so far this year.
- [By Brian Feroldi]
Data source: Alkermes. GAAP = generally accepted accounting principles.
What happened with Alkermes this quarter? Sales of Alkermes'�opioid- and alcohol-abuse prevention drug Vivitrol grew 7% to $62.7 million. Sales of the company's�schizophrenia drug�Aristada�rose 62% to $29.2 million. Manufacturing and royalty revenue related to�Johnson & Johnson's schizophrenia drugs jumped 15% to $68.8 million. Manufacturing and royalty revenue related to�Acorda Therapeutics' multiple sclerosis drug�fell�3% to $28.3 million. Research and development revenue earned as part of its collaboration with�Biogen (NASDAQ:BIIB) for BIIB098 -- which used to be called ALKS 8700 -- was $17.5 million.Looking beyond the financials, here's an overview of the key events from the period:
- [By Chris Lange]
The S&P 500 stock posting the largest daily percentage loss ahead of the close Wednesday was Biogen Inc. (NASDAQ: BIIB) which traded down about 6% at 297.99. The stock��s 52-week range is $244.28 to $370.67. Volume was about 5 million compared to the daily average volume of roughly 1 million.
- [By Chris Lange]
The S&P 500 stock posting the largest daily percentage loss ahead of the close Monday was Biogen Inc. (NASDAQ: BIIB) which traded down nearly 4% at $329.58. The stock��s 52-week range is $244.28 to $348.84. Volume was 1.2 million matching the daily average of 1.2 million shares.
Top 5 Biotech Stocks To Watch For 2019: Alnylam Pharmaceuticals Inc.(ALNY)
Advisors' Opinion:- [By Joseph Griffin]
BidaskClub lowered shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) from a strong-buy rating to a buy rating in a research report released on Monday.
- [By Brian Orelli]
The delay in an FDA decision for Tegsedi puts it behind competitor Alnylam Pharmaceuticals (NASDAQ:ALNY), which expects to hear from the FDA by Aug. 11 for its hATTR drug patisiran. But Sarah Boyce, the president at Akcea Therapeutics, doesn't think a few months will really matter: "We don't really feel that's going to have any impact and the drugs will be close enough together from a launch perspective. So not really [going] to make any adjustments, and we're very well prepared to be ready to launch following approval."
- [By Brian Orelli]
Alnylam Pharmaceuticals (NASDAQ:ALNY) released first-quarter results last week, but all eyes were looking forward as the company waits for a potential approval of its hereditary TTR amyloidosis (ATTR) drug, patisiran.
- [By Logan Wallace]
Alnylam Pharmaceuticals (NASDAQ:ALNY) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Although Alnylam has a broad and promising pipeline, we note that most candidates are in mid stages of development. These candidates still have a long way to go before hitting the market. The company relies highly on collaborators for funding. Any development/regulatory setback would be a negative for the company. However, Alnylam reported positive data from the ATLAS study in the first quarter which led to regulatory filings for its late-stage pipeline candidate patisiran and the FDA set an action date of Aug 11, 2018. The company along with its partners Sanofi and The Medicines Company, restarted fitusiran's ATLAS phase III study and advanced inclisiran in the ORION-9, -10, and -11 phase III studies, respectively, with results expected for both programs in 2019. Alnylam expects to achieve the profile of three marketed products by the end of 2020.”
- [By Max Byerly]
Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, May 3rd. The biopharmaceutical company reported ($1.41) EPS for the quarter, topping analysts’ consensus estimates of ($1.47) by $0.06. The business had revenue of $21.90 million during the quarter, compared to analysts’ expectations of $35.23 million. Alnylam Pharmaceuticals had a negative return on equity of 36.81% and a negative net margin of 565.20%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.25) earnings per share. equities analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -6.7 earnings per share for the current fiscal year.
Top 5 Biotech Stocks To Watch For 2019: Amgen Inc.(AMGN)
Advisors' Opinion:- [By Max Byerly]
Gables Capital Management Inc. purchased a new stake in Amgen, Inc. (NASDAQ:AMGN) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,023 shares of the medical research company’s stock, valued at approximately $174,000.
- [By Logan Wallace]
AlphaMark Advisors LLC cut its position in shares of Amgen (NASDAQ:AMGN) by 5.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,973 shares of the medical research company’s stock after selling 1,638 shares during the period. Amgen comprises about 2.0% of AlphaMark Advisors LLC’s investment portfolio, making the stock its 7th largest position. AlphaMark Advisors LLC’s holdings in Amgen were worth $4,769,000 at the end of the most recent reporting period.
- [By Logan Wallace]
Intact Investment Management Inc. grew its holdings in Amgen (NASDAQ:AMGN) by 2,737.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,400 shares of the medical research company’s stock after purchasing an additional 43,800 shares during the period. Intact Investment Management Inc.’s holdings in Amgen were worth $7,739,000 as of its most recent filing with the Securities & Exchange Commission.
Top 5 Biotech Stocks To Watch For 2019: ArQule Inc.(ARQL)
Advisors' Opinion:- [By Cory Renauer]
What's behind these dramatic gains? Read on to find out.
Company Gain in H1 2018 Market Cap Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) 270% $1.19 billion ArQule, Inc. (NASDAQ:ARQL) 235% $482 million Endocyte, Inc. (NASDAQ:ECYT) 222% $959 million Madrigal Pharmaceuticals, Inc.�(NASDAQ:MDGL) 205% $3.99 billionData source: YCharts.
- [By Logan Wallace]
BidaskClub upgraded shares of ArQule (NASDAQ:ARQL) from a hold rating to a buy rating in a report released on Saturday.
A number of other research firms have also issued reports on ARQL. Roth Capital upped their price target on ArQule from $5.00 to $6.00 and gave the company a buy rating in a research report on Tuesday, April 17th. Leerink Swann upgraded ArQule from a market perform rating to an outperform rating in a research report on Thursday, April 5th. Zacks Investment Research lowered ArQule from a buy rating to a hold rating in a research report on Wednesday, April 4th. ValuEngine upgraded ArQule from a hold rating to a buy rating in a research report on Wednesday, May 2nd. Finally, B. Riley set a $4.00 price target on ArQule and gave the company a buy rating in a research report on Monday, March 26th. Seven analysts have rated the stock with a buy rating, The stock currently has an average rating of Buy and an average target price of $4.69.
- [By Lisa Levin] Gainers Melinta Therapeutics, Inc. (NASDAQ: MLNT) shares surged 20.6 percent to $6.39. WBB Securities upgraded Melinta Therapeutics from Hold to Speculative Buy. Shoe Carnival, Inc. (NASDAQ: SCVL) shares climbed 17.2 percent to $30.87 after the company reported upbeat quarterly earnings. Acorn International, Inc. (NYSE: ATV) shares rose 15.2 percent to $28.804 after the company declared a special one-time cash dividend of $14.97 per ADS. Foot Locker, Inc. (NYSE: FL) gained 15 percent to $53.35 after the company reported better-than-expected results for its first quarter. Sears Hometown and Outlet Stores, Inc. (NASDAQ: SHOS) surged 14.2 percent to $2.625. ArQule, Inc. (NASDAQ: ARQL) rose 13 percent to $5.12 after gaining 4.86 percent on Thursday. Quality Systems, Inc. (NASDAQ: QSII) gained 12.8 percent to $16.97 after the company posted better-than-expected FQ4 results. Loma Negra Compañía Industrial Argentina Sociedad Anónima (NYSE: LOMA) shares rose 12 percent to $12.94. ArQule, Inc. (NASDAQ: ARQL) shares rose 12 percent to $5.07. Mirati Therapeutics, Inc. (NASDAQ: MRTX) climbed 11.4 percent to $43.50. Zai Lab Limited (NASDAQ: ZLAB) gained 11.3 percent to $24.7000. Zymeworks Inc. (NASDAQ: ZYME) rose 9.7 percent to $19.64. Park City Group, Inc. (NASDAQ: PCYG) climbed 9 percent to $7.90. Roku, Inc. (NASDAQ: ROKU) gained 7.9 percent to $38.82 after Citron reversed previously bearish position on the stock. Sears Holdings Corporation (NASDAQ: SHLD) shares jumped 7.3 percent to $3.55. Deckers Outdoor Corp (NYSE: DECK) rose 3.5 percent to $107.27 after reporting better-than-expected results for its fiscal fourth quarter.
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