Portola Pharmaceuticals (NASDAQ:PTLA) lagged the market last month by falling 11% compared to a 0.4% increase in the S&P 500, according to data provided by S&P Global Market Intelligence.
The decline added to prior significant losses to leave the biotech stock well behind the broader market, with a drop of over 50% so far in 2018.
^SPX data by YCharts.
So whatPortola, the owner of two drugs approved by the Food and Drug Administration, is struggling to transition into commercial viability. The company saw operating expenses shoot up to $108 million in the second quarter despite having booked just $4 million of revenue. As a result, net losses amounted to over $100 million for the period.
Investors were spooked by the news of those losses, and by the sluggish start for Portola's anticoagulant treatment called Bevyxxa, in August. Last month the bearish sentiment continued amid significant changes in the company's leadership team. CEO Bill Lis and CFO Tao Fu have both left Portola in recent months.
Top 10 Biotech Stocks To Watch Right Now: Alnylam Pharmaceuticals Inc.(ALNY)
Advisors' Opinion:- [By Joseph Griffin]
Northern Trust Corp lifted its holdings in Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) by 4.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 492,768 shares of the biopharmaceutical company’s stock after purchasing an additional 20,992 shares during the period. Northern Trust Corp owned about 0.49% of Alnylam Pharmaceuticals worth $48,533,000 at the end of the most recent quarter.
- [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.
- [By Cory Renauer]
Anyone who likes a good underdog story will want to keep their eye on Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) and GW Pharmaceuticals PLC (NASDAQ:GWPH) through this year and next as they launch their first products in the U.S. Smaller biotechs have a terrible track record when it comes to launching new drugs on their own, but most analysts expect these companies to buck the trend and propel their recently approved drugs to blockbuster status within a few years.
- [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."
Top 10 Biotech Stocks To Watch Right Now: Amgen Inc.(AMGN)
Advisors' Opinion:- [By Chris Lange]
Amgen Inc. (NASDAQ: AMGN) saw its short interest fall to 9.58 million shares from the previous level of 10.61 million. Shares were last seen trading at $193.15, in a 52-week trading range of $163.31 to $201.23.
- [By Ethan Ryder]
Wayne Hummer Investments L.L.C. trimmed its position in shares of Amgen (NASDAQ:AMGN) by 11.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,311 shares of the medical research company’s stock after selling 303 shares during the period. Wayne Hummer Investments L.L.C.’s holdings in Amgen were worth $394,000 at the end of the most recent quarter.
- [By Keith Speights]
If you're looking to invest in successful big biotechs, two of the biggest are Amgen (NASDAQ:AMGN) and Celgene (NASDAQ:CELG). Over the past 10 years, both stocks have more than tripled.
- [By Shane Hupp]
Amgen (NASDAQ:AMGN)‘s stock had its “buy” rating reissued by Oppenheimer in a research note issued on Tuesday. They currently have a $224.00 price objective on the medical research company’s stock. Oppenheimer’s price target would indicate a potential upside of 8.26% from the stock’s current price.
- [By Logan Wallace]
Eqis Capital Management Inc. grew its position in Amgen, Inc. (NASDAQ:AMGN) by 3.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 42,769 shares of the medical research company’s stock after acquiring an additional 1,361 shares during the period. Amgen accounts for approximately 0.5% of Eqis Capital Management Inc.’s investment portfolio, making the stock its 23rd biggest position. Eqis Capital Management Inc.’s holdings in Amgen were worth $7,895,000 at the end of the most recent reporting period.
Top 10 Biotech Stocks To Watch Right Now: ArQule Inc.(ARQL)
Advisors' Opinion:- [By Stephan Byrd]
ArQule, Inc. (NASDAQ:ARQL) Director Ronald M. Lindsay acquired 23,900 shares of the company’s stock in a transaction on Thursday, May 10th. The stock was acquired at an average price of $2.67 per share, for a total transaction of $63,813.00. Following the purchase, the director now directly owns 43,900 shares of the company’s stock, valued at $117,213. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
- [By Ethan Ryder]
ArQule, Inc. (NASDAQ:ARQL) insider Value Fund L. P. Biotechnology sold 1,035,939 shares of the business’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $5.00, for a total value of $5,179,695.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
- [By Motley Fool Transcribers]
Arqule Inc (NASDAQ:ARQL)Q4 2018 Earnings Conference CallMarch 07, 2019, 9:00 a.m. ET
Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks:Operator
Top 10 Biotech Stocks To Watch Right Now: Biogen Idec Inc(BIIB)
Advisors' Opinion:- [By Brian Feroldi]
Amgen (NASDAQ:AMGN) and Biogen (NASDAQ:BIIB) have a lot in common. They are both hugely successful biotech giants that were founded decades ago. They each have produced stellar returns for their long-term shareholders and crank out copious amounts of cash flow each 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 WWW.GURUFOCUS.COM]
For the details of Woodford Investment Management LLP's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Woodford+Investment+Management+LLP
These are the top 5 holdings of Woodford Investment Management LLPProthena Corp PLC (PRTA) - 11,557,614 shares, 37.95% of the total portfolio. Shares added by 0.25%Alkermes PLC (ALKS) - 5,270,428 shares, 27.32% of the total portfolio. Shares reduced by 30.52%Theravance Biopharma Inc (TBPH) - 10,898,879 shares, 23.64% of the total portfolio. Shares added by 1.41%Biogen Inc (BIIB) - 279,564 shares, 6.85% of the total portfolio. Shares reduced by 24.56%Evofem Biosciences Inc (EVFM) - 7,465,538 - [By Money Morning News Team]
Biogen Inc. (NASDAQ: BIIB) is a Massachusetts-based company that focuses on discovering, developing, manufacturing, and delivering therapies for neurodegenerative and neurological diseases worldwide.
No comments:
Post a Comment