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Tag: BIIB Stock Price

  • Why Is Biogen (BIIB) Stock Falling Premarket?

    As of the last check Thursday, Biogen Inc. (BIIB) had fallen -7.50% at $34.00. Last trading session, Biogen stock lost -0.67% as it closed at $371.90. BIIB stock traded between $364.30 and $376.01 during the day. BIIB traded 1.78 million shares, which was in line with its average daily volume of 1.61 million shares over the past 100 days.

    In the last five days, BIIB’s shares declined by -4.96%, while they increased by 33.36% last month. In the current market, BIIB has a price-to-earnings ratio of 19.51, and a price-to-book ratio of 5.29. BIIB stock is falling even after getting a positive status from the US Food and Drug Administration (FDA).

    Why is the BIIB stock falling?

    Biogen is a pioneer in neuroscience that develops, produces, and delivers innovative therapies worldwide for people living with neurological diseases and neurodegenerative disorders, as well as for people suffering from other conditions.

    A pioneer in global biotechnology, BIIB was founded in 1978 by Charles Weissmann, Heinz Schaller, Kenneth Murray, Walter Gilbert, and Phillip Sharp, who won Nobel Prizes in chemistry. With the introduction of the first approved treatment for spinal muscular atrophy, the BIIB has the leading portfolio of medicines to treat multiple sclerosis. It also commercializes biosimilars of advanced biologics.

    Biogen and Eisai Co. Ltd. have announced that the FDA has approved lecanemab (BAN2401).

    • Lecanemab is an investigational anti-amyloid beta (Aβ) protofibril antibody for the treatment of Alzheimer’s disease (AD).
    • Together, Eisai and BIIB develop and commercialize treatments for AD.
    • As principle developer of lecanemab, Eisai leads the development process.
    • Based on the results of a recently published Phase 2b clinical trial (Study 201), the FDA recently designated lecanemab as a Breakthrough Therapy for Alzheimer’s disease (AD) and mild AD with pathology confirmed by amyloid testing.
    • Lecanemab treatment reduced brain amyloid beta (Aβ) and clinical decline in Proof-of-Concept Study 201.
    • At the highest doses, at least three clinical endpoints and several biomarker measurements showed consistent reductions in clinical decline.

    How BIIB went through this?

    Approximately 1,795 patients with early Alzheimer’s disease have been enrolled in the Clarity AD study, conducted by Eisai and Biogen (BIIB). By the end of September 2022, the study’s primary endpoint should be complete.

    As a Breakthrough Therapy, Biogen (BIIB) will receive more intensive guidance on an efficient development program of Lecanemab, and will be eligible for rolling review and priority review.

  • The Three Best Pharmacy Stocks to buy Anytime Soon

    The Three Best Pharmacy Stocks to buy Anytime Soon

    Investors are always keen to jump into pharmacy stocks.

    The global pharmaceutical market is as wide as the sea. We have companies with large, middle, and small caps that have massive potential in their specific range. The global pharma industry makes more than $1.2 trillion in sales each year. Now, that’s a huge marketplace, and it creates massive opportunities for investors in the long-term—in specific.

    With the global pandemic prolonging, the world doesn’t know what’s coming up next. But one thing is for sure that the health crisis has created another pharma segment—in the shape of the vaccine.

    Every big pharma company has tried its luck in vaccine development and many have been successful in the initial stages and some in the final. In that premise, we can see pharmaceutical stocks having a big upside in the long run.

    However, with the global crises, nothing can be taken for granted, especially the stock market. Looking at the pharmacy stocks, here are the three best in the market.

    AbbVie (ABBV)

    In last decade, AbbVie (ABBV) has developed into a giant in the market being one of the finest biopharma’s. CNBC’s Mad Money host and the market guru, Jim Cramer recently passed some comments regarding AbbVie. Cramer said:

    “AbbVie (ABBV) is a bargain.”

    People are not using Botox as they used to, but Cramer finds its migraine franchise amazing.

    AbbVie has grown as a dividend titan in the industry. The company has a dividend of $1.3 per share, with a yield of 4.98%. This is more than double compared tothe Large Cap Pharmaceuticals industry’s yield of 2.35% and the S&P 500’s yield of 1.47%. Over the last ten years, the drugmaker has raised its current annualized dividend to 10.2% to $5.20.

    Moreover, AbbVie’s earnings growth looks solid for the current fiscal year. As per Zacks, the company is anticipated to record $12.17 per share in 2021, which reflects an increase of 15.25% year-over-year.

    Biogen (BIIB)

    Biogen (BIIB) is leading biotech firm that focuses on the discovery, development, and commercialization of pharmaceutical treatments. The company strongly remains committed to the fields of neurology, immunology, and oncology.

    Biogen has a pending application at the US FDA whose fate is yet to be decided by the regulatory body. The FDA is undergoing Biogen’s investigational Alzheimer’s drug. Investors see this as a critical and turning point for the company. The approval of aducanumab for the company would do wonders in the long-term growth. Why? Because generic competition is eroding Biogen’s billion-dollar multiple sclerosis businesses.

    With the potential approval of aducanumab, Biogen would surely make megabucks. As per Alzheimer’s Association, approximately 5 million Americans suffer from Alzheimer’s. However, Biogen’s product is lagging some data, which is making the FDA take longer to decide. The regulatory body now must issue a decision by June 7. Till then keep following Biogen, it could be a massive win or big loss.

    Novartis (NVS)

    The Swiss pharma titan, Novartis (NVS) could be a decent bet in the near-term. The company has been involved in a couple of developments, lately.

    On Feb 11., Reuters reported that the Swiss drugmaker’s generics division is buying a GlaxoSmithKline antibiotics business which includes GSK’s brands Zinacef, Fortum, and Zinnat. The deal is expected to be worth $500 million.

    According to GSK, these three brands that are part of the deal made $140 million in sales across relevant markets in 2020. And, currently, they are out of patent protection.

    Moreover, the CEO of the company, Vas Narasimhantalking to Bloomberg TV said that they are in talks with different players to help them produce the COVID vaccines. That sounds interesting and the company claims it canfulfill the market demand to some extent—which is colossal since day one. 

    On top of all these developments, Novartis’ novel investigational treatment specifically targeting the ABL myristoyl pocket (STAMP), asciminib, has obtained the Breakthrough Therapy designation (BTD) by the FDA.

    The company has been granted to treat adult patients with Philadelphia chromosome-positive chronic myeloid leukemia (Ph+ CML) in the chronic phase (CP). This is a great breakthrough for the company and it plans for submission in the first half of this year.