![]() Celldex is working on drug indications that include therapies for glioblastoma, breast cancer, dense deposit disease and lymphoma. Investors are interested in Celldex because of the unmet need therapies the company is developing. (NASDAQ: CLDX) focuses on developing therapeutic antibodies, antibody drug conjugates, immune system modulators and vaccines. Shares closed down more than 7% Thursday at $29.61.Ĭelldex Therapeutics Inc. The consensus price target stands at $32.19. ![]() Since its launch in the spring of 2003, Testim has steadily gained market share from entrenched competition via the company’s increased 150-person sales and marketing organization in the United States. Its Testim drug is a proprietary, topical testosterone replacement therapy gel FDA approved for the treatment of male hypogonadism. (NASDAQ: AUXL) has been often mentioned as a solid takeover candidate. Actavis closed Thursday trading at $213.95, down almost 5%.Īuxilium Pharmaceuticals Inc. The Thomson/First Call target is $227.80. In fact, during Actavis’s fourth-quarter report, it specifically mentioned the new generic introduction of drugs such as Suboxone, Lidoderm and Concerta as growth drivers. A key element to Actavis’s growth has been the so-called patent cliff, a period in which many of the world’s best-selling drugs are losing patent protection. In the second quarter, total sales exceeded $2 billion, creating 57% year-over-year growth. Here is a list of some of the names Jefferies says to buy now, especially on any continued weakness.Īctavis PLC (NYSE: ACT) is a top generic-drug maker and continues to see unprecedented growth. They Jefferies team thinks that the group is therefore oversold, and would look to buy on weakness. The longevity of the specialty pharmaceutical trade in terms of the value creation merger and acquisition thesis is concerned, has been by far the largest component of the bear thesis with respect to some of the stocks that got hit hard. In a research note the firm put out, the analysts conclude that even if such actions were to be taken to curtail tax strategies, it would take a number of years before laws were enacted. They have seen language before and believe that concerns, insofar as they are impacting stocks are overdone. The largest of which the analysts at Jefferies believe, is commentary within Washington’s new budget proposal regarding tax inversion strategies. The biotech and specialty pharmaceutical groups got hit hard for a variety of reasons. That is exactly what happened late Thursday. Source: ThinkstockTypically when news drifts out of Washington, D.C., concerning tax changes that can affect a sector, that sector will get pummeled first and questions will be asked later.
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