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☆ Biotech stocks are an unappreciated way to profit from lower rates, Goldman says
▼ + stars: | 2024-09-18 | by ( Scott Schnipper | ) www.cnbc.com time to read: +3 min

Biotechnology stocks offer an under-the-radar and unappreciated way to profit from the central bank's looming campaign to start cutting the cost of borrowing, according to Goldman Sachs. Investors may have already begun to anticipate the effect of lower rates on some biotech companies. IBB .SPX mountain 2024-06-30 The iShares Biotechnology ETF has risen more than twice as much as the S & P 500 this quarter. The iShares Biotech ETF is up 7.7% this quarter while the Nasdaq Biotech Index has advanced 7.4%, more than double the 3.2% gain in the S & P 500 since June 30. Year-to-date, Regeneron is up 30.6% and Vertex by 18.3%, both outperforming the 18.1% rise in the S & P 500.

Persons: Goldman Sachs, John Flood, Goldman, Flood, Regeneron Organizations: Biotechnology, Federal Reserve, Gilead Sciences, Nasdaq Biotechnology, IQVIA Holdings, Regeneron Pharmaceuticals, Amgen, Vertex Pharmaceuticals, iShares Biotech, Nasdaq Biotech Locations: Gilead

☆ Biotech stocks are ready to break out. They just need one more thing
▼ + stars: | 2024-04-10 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +5 min

While debate rages on about when the Federal Reserve might start cutting interest rates, biotech industry analysts are making the case that the argument for stocks in the sector is growing. Last week, Morgan Stanley analysts noted that it is the months leading up to an initial rate cut when biotech stocks outperform. Morgan Stanley also believes the case for biotech stocks is further reinforced by the financing environment and the outlook for mergers and acquisitions as well as upcoming innovation. The case for innovation Morgan Stanley also favors owning biotech stocks that have a strong drug platform even if the key catalyst of clinical trial data and FDA approvals are farther out. Rhythm ranks among the stocks rated overweight that Morgan Stanley favors in this category.

Persons: Morgan Stanley, Needham, Joseph Stringer, dealmaking, Stringer, erosive, it's, Phathom, GERD, LSEG, Merck, — CNBC's Michael Bloom Organizations: Federal Reserve, Nasdaq, Oncology, Immunology, Phathom Pharmaceutical, Pharmaceuticals, Phathom Pharmaceuticals, LSEG, Drug, Bristol Myers Squibb, Pfizer, Intellia Therapeutics, Rocket Pharmaceuticals Locations: New Jersey

☆ Move over Big Tech, a new market leader could be emerging, according to the charts
▼ + stars: | 2024-02-29 | by ( David Keller | ) www.cnbc.com time to read: +3 min

Biotechnology stocks have recently shown renewed strength, and improving momentum may just push these names toward the top of the leaderboard. Second, this level also represented a 38.2% retracement level based on the 2021 high and 2022 low, which is a widely followed support level based on the Fibonacci methodology. This week, IBB has bounced off that support level, making a new 52-week high as it briefly pushed above the 50% retracement level around $140. The weekly chart reinforces that biotechnology stocks may still be in the early stages of this advance, with lots of daylight between current levels and the 2021 highs. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: IBB, David Keller Organizations: Biotechnology, Nasdaq Biotechnology, CMT

☆ Biotech stocks jump on AbbVie deal to buy cancer drugmaker ImmunoGen for $10 billion
▼ + stars: | 2023-11-30 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

Biotech stocks rose Thursday as AbbVie announced plans to buy cancer drug developer ImmunoGen for $10.1 billion. ImmunoGen develops cancer drugs called antibody-drug conjugates, or ADCs, which are designed to directly kill cancer cells and spare healthy ones. Shares of other biotech companies developing ADCs, which are among the hottest areas in the pharmaceutical industry, jumped on the news of the buyout. The SPDR S&P Biotech ETF , which focuses on small and midsize biotech companies, rose 3% Thursday. Under the terms of the deal, AbbVie will pay $31.26 a share in cash for ImmunoGen, a roughly 95% premium to Wednesday's closing price.

Persons: AbbVie, ImmunoGen, Michael Schmidt Organizations: Biotech, Mersana Therapeutics, ADC Therapeutics, P Biotech ETF, Nasdaq Biotechnology, ImmunoGen, Pfizer, Merck, CNBC PRO Locations: ADCs

☆ Risky biotech M&A therapy will heal more fractures
▼ + stars: | 2023-10-19 | by ( Jonathan Guilford | ) www.reuters.com time to read: +8 min

NEW YORK, Oct 19 (Reuters Breakingviews) - How can a suitor offering $1 billion see eye-to-eye with a seller asking for $2 billion? Such contingent value rights, or CVRs, are a way to get around the inherent uncertainty of an unproven drug. Its $74 billion takeover of Celgene in 2019 included a $6.4 billion payout dependent on a trio of drug approvals. There have been only 27 biotech market debuts this year, raising $2.2 billion, according to LSEG data. Given the nagging fissures in valuation perspectives, however, more dealmakers are apt to try this risky M&A therapy.

Persons: Schulman, Sidley, Bristol Myers, Myers, CVRs, Andrew Weisenfeld, IPOs, ”, Dan Lepanto, biopharma, Eli Lilly’s, Bristol Myers Squibb, Jeffrey Goldfarb, Sharon Lam, Streisand Neto Organizations: Reuters, Dow, Marion Laboratories, LyondellBasell Industries, Mirati Therapeutics, JPMorgan, Sanofi, Health Partners, Nasdaq Biotechnology, Reuters Graphics Reuters, Reuters Graphics, Leerink Partners, Therapeutics, Public, Bristol Myers, U.S . Food, Drug Administration, Thomson Locations: Celgene, Genzyme, U.S

☆ This European biotech company could rally nearly 45%, says Morgan Stanley
▼ + stars: | 2023-10-13 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Recent data for cancer treatment manufacturer MorphoSys AG suggests the German biotech's shares could see a significant rally, according to Morgan Stanley. "Despite increasing competition, our updated analysis suggests peak global sales of $1.6bn for pelabresib," analyst James Quigley wrote in a Friday note. "In addition, while some clinical risk remains, the data so far suggests that MANIFEST-2 has a good chance of success, which should drive significant upside in the shares," Quigley said. Shares have sold off nearly 25% since mid-September, compared to the Nasdaq Biotechnology Index down 4% over the same period. MOR XBI YTD mountain MorphoSys vs SPDR S & P Biotech ETF in 2023.

Persons: Morgan Stanley, James Quigley, Quigley, SPDR, — CNBC's Michael Bloom Organizations: MorphoSys, pelabresib, Nasdaq, MF, P Biotech

☆ Biotech’s doldrums are a warning amid exuberance
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +2 min

The sector’s doldrums are a warning sign, despite the broader market shrugging off recession concerns. In 2000, the index peaked weeks before the S&P 500 Index (.SPX) and hit bottom three months earlier. In the 2009 financial crisis, the biotech index peaked later, but both emerged at about the same time. Yet biotech stocks have been lackluster since. Since January, the index is down 2%, while the S&P 500 Index is up 19% and the Nasdaq Composite Index is up 35%.

Persons: Robert Cyran, Jonathan Guilford, Sharon Lam Organizations: YORK, Reuters, Biotechnology, Nasdaq Biotechnology, Nasdaq, Twitter, Thales, Thomson Locations: Spain

☆ Goldman Sachs shares 21 ETF option trades to make — including 3 it expects to return more than 500% — amid one of the most attractive options environments it's seen in 27 years
▼ + stars: | 2023-07-18 | by ( William Edwards | ) www.businessinsider.com time to read: +2 min

Goldman Sachs says there's rarely been a better time to buy options over the last 27 years. In a recent note, analysts at the bank shared 21 ETFs to buy call options on. There's rarely been a better time over the past quarter century to buy stock options, according to Goldman Sachs. We've compiled their 21 ETF call option suggestions below, all of which the analysts believe have substantial upside potential. Goldman's list of ETF call-option suggestions is shown below, in ascending order of implied returns based on the bank's price targets.

Persons: Goldman Sachs, there's, There's, John Marshall, Goldman, We've, Marshall Organizations: NASDAQ Biotechnology

☆ Bank of America just added these biotech stocks to its list of first-quarter picks
▼ + stars: | 2023-01-09 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

BofA has added a number of biotechnology stocks — a sector that is hot on Wall Street right now – to its list of top picks for the first quarter. The bank identified the biotech stocks, as well as some medical technology companies, as part of its thematic investing picks, on themes it says are related to a "transforming world." BofA listed the stocks under themes such as ageing, obesity and pandemic. The bank added biotech firm BioNTech , as well as medical equipment company ResMed , to its list under this theme. The bank added medical technology firm Silk Road Medical , along with biotech firms Cerevel and Denali , to its list of stocks to play this theme.

☆ AstraZeneca’s new deal is smarter than it looks
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +2 min

LONDON, Jan 9 (Reuters Breakingviews) - On the face of it, Pascal Soriot’s new deal ought to raise his shareholders’ blood pressure. The boss of $221 billion pharma giant AstraZeneca (AZN.L) has agreed to buy CinCor Pharma (CINC.O) for up to $1.8 billion. Yet paying $26 in cash per CinCor share and an extra $10 per share if a key drug is submitted for regulatory approval represents a 206% bump to CinCor’s closing share price on Friday. The pharma industry has a war chest of over half a trillion dollars to splurge on knock-down biotech stocks this year. If the next trial goes better, Astra’s deal may not look so toppy.

☆ Big Pharma will find right formula for M&A binge
▼ + stars: | 2022-12-20 | by ( Aimee Donnellan | ) www.reuters.com time to read: +3 min

The year 2022 was relatively thin for pharma M&A, with deals worth nearly $66 billion being announced by early December – 60% below the 9-year average, according to Refinitiv data; 2023 will be better. It helps that drug companies are relatively healthy, with debt around just 1.6 times forecast EBITDA in 2023, according to Berenberg analysts. Seagen (SGEN.O), for example, worth $22 billion in early December, has fought off Merck & Co (MRK.N). That puts Big Pharma in an ideal negotiating position. CONTEXT NEWSGlobal pharmaceutical companies spent nearly $66 billion on takeovers in 2022, according to data from Refinitiv as of Dec. 7.

☆ Amgen’s $28 bln deal is a reasonable gamble
▼ + stars: | 2022-12-12 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

NEW YORK, Dec 12 (Reuters Breakingviews) - Biotechnology deals are always a gamble, and, on the face of it, Amgen’s (AMGN.O) $28 billion purchase of Horizon Therapeutics (HZNP.O) looks both risky and pricey. Investors in the $150 billion drug buyer should give it the benefit of the doubt. Amgen is largely buying Horizon for a drug named Tepezza, which helps a thyroid disease that affects eyesight. Sales in Alexion’s drug this year should be $7 billion, a 16% jump from where they were when AstraZeneca bought it. If Amgen similarly helps Horizon, its deal will look like a reasonable wager.

☆ These biotech stocks look cheap — and analysts give 2 more than 100% upside
▼ + stars: | 2022-11-16 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

U.S. biotech stocks have been on the up recently. To identify biotech stocks that look cheap and are expected to rally looking ahead, CNBC Pro screened the iShares Biotechnology ETF on FactSet. The ETF, which tracks U.S. biotech stocks, has jumped around 10% in the past month, and risen more than 4% in the past week. Two stocks stood out as having average potential upside of more than 100%, and a buy rating from all analysts who cover them. One stock — Chimerix — had an average price target upside of 266% from analysts, 83% of whom gave it a buy rating.

☆ Biotech firm Prime Medicine valued at $1.8 bln in strong debut
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

Oct 20 (Reuters) - Biotechnology firm Prime Medicine (PRME.O) notched a valuation of about $1.8 billion in its Nasdaq debut on Thursday, braving tough market conditions that have forced several IPO-bound companies to slam the breaks on their listing plans. Shares of Prime Medicine started trading nearly 12% above their IPO price of $17 each. Its investors include Alphabet Inc's (GOOGL.O) GV, Newpath Partners, Moore Strategic Ventures and Samsara Biocapital, the firm's website showed. Prime Medicine sold 10.3 million shares in its upsized offering, raising $175 million in proceeds priced at $17 apiece, the midpoint of its proposed range of $16 and $18 per share. Register now for FREE unlimited access to Reuters.com RegisterReporting by Manya Saini in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

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