Fierce competition in the hepatitis C market has caused Gilead Sciences' (NASDAQ:GILD) sales and share price to slide, but the dividend-paying company remains profitable and there are catalysts on the horizon that could reignite interest. Is now a good time to add this biotech behemoth to portfolios?
By the numbersGilead Sciences has been selling widely used HIV drugs for over a decade, but its recent woes stem from declining demand for its hepatitis C drugs. The company was the first drugmaker to develop oral medicines that provide functional cures for the liver disease. However, other drugmakers have rolled out their own treatments, sparking a price war that's taken a toll on Gilead Sciences' financial results.
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Top Biotech Stocks To Buy Right Now: ArQule Inc.(ARQL)
Advisors' Opinion:- [By Joseph Griffin]
Shares of ArQule, Inc. (NASDAQ:ARQL) were down 5.4% during trading on Wednesday . The company traded as low as $4.71 and last traded at $4.73. Approximately 3,358,864 shares traded hands during trading, an increase of 289% from the average daily volume of 863,008 shares. The stock had previously closed at $5.00.
- [By Joseph Griffin]
ValuEngine upgraded shares of ArQule (NASDAQ:ARQL) from a buy rating to a strong-buy rating in a research report released on Tuesday.
Several other equities analysts have also issued reports on ARQL. Zacks Investment Research upgraded ArQule from a hold rating to a buy rating and set a $2.50 price objective for the company in a research report on Tuesday, March 20th. BidaskClub upgraded ArQule from a buy rating to a strong-buy rating in a research report on Saturday, March 24th. B. Riley set a $4.00 price objective on ArQule and gave the company a buy rating in a research report on Monday, March 26th. Leerink Swann upgraded ArQule from a market perform rating to an outperform rating in a research report on Thursday, April 5th. Finally, Roth Capital boosted their price objective on ArQule from $5.00 to $6.00 and gave the company a buy rating in a research report on Tuesday, April 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $5.35.
- [By Stephan Byrd]
ArQule, Inc. (NASDAQ:ARQL)’s share price rose 6.2% during trading on Thursday . The stock traded as high as $5.21 and last traded at $5.15. Approximately 955,706 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 1,244,948 shares. The stock had previously closed at $4.85.
- [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]
Get a free copy of the Zacks research report on ArQule (ARQL)
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Top Biotech Stocks To Buy Right Now: Amgen Inc.(AMGN)
Advisors' Opinion:- [By Cory Renauer]
The recent surge in biotech investment is terrific for the pace of innovation, but that capital isn't heading toward the industry's bigger older players, a couple of which are looking mighty underappreciated right now. Perhaps the investment community's intense focus on start-ups has created interesting opportunities to snap up shares of these two overlooked biotechs at a very nice price.
Company (Symbol) Forward P/E Ratio Free Cash Flow, Past 12 Months Cash, Cash Equivalents, and Short-Term Investments as of March 31 AbbVie Inc. (NYSE:ABBV) 12.2 $10.0 billion $9.5 billion Amgen, Inc. (NASDAQ:AMGN) 14.2 $10.9 billion $32.2 billionData source: Yahoo! Finance.
- [By Keith Speights]
The big reason Humira will maintain its position at the top is the U.S. market. U.S. sales of the drug are projected to be around $12.2 billion in 2024. That's not much lower than Humira's 2017 U.S. sales of nearly $12.4 billion. Will Amgen's (NASDAQ:AMGN) biosimilar Amjevita, which will go on sale in the U.S. effective Jan. 31, 2023, really make that small of a dent in Humira's sales? Not really. The impact will be greater than the 2024 projections indicate.
- [By Keith Speights]
Amgen (NASDAQ:AMGN) ranks No. 1 among all biotech stocks when it comes to market cap. It's one of the most profitable biotechs and claims one of the largest cash stockpiles in the industry.
Top Biotech Stocks To Buy Right Now: Alnylam Pharmaceuticals Inc.(ALNY)
Advisors' Opinion:- [By Shane Hupp]
Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target lowered by equities research analysts at Morgan Stanley from $107.00 to $99.00 in a report released on Friday. The firm presently has an “equal weight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 3.97% from the stock’s current price.
- [By Stephan Byrd]
Alnylam Pharmaceuticals (NASDAQ:ALNY) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Wednesday.
- [By Ethan Ryder]
Alnylam Pharmaceuticals (NASDAQ:ALNY) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday.
- [By Jim Crumly]
You would think that when a drug company that's been working for 16 years to develop drugs using a novel therapeutic approach wins its first-ever approval from the U.S. Food and Drug Administration (FDA), confetti would fall from the ceiling and its investors would be celebrating a huge stock gain the next day. That didn't happen this week for shareholders of Alnylam Pharmaceuticals (NASDAQ:ALNY), with shares dropping 6.6% the day after the announcement, and there were two main reasons for that.
Top Biotech Stocks To Buy Right Now: Biogen Idec Inc(BIIB)
Advisors' Opinion:- [By Keith Speights]
Surprising only begins to describe the latest clinical study results announced by Biogen (NASDAQ:BIIB) and its partner, Japanese drugmaker Eisai (NASDAQOTH:ESALY). On July 5, the two companies reported positive topline results from a phase 2 clinical study of experimental Alzheimer's disease drug BAN2401 at 18 months.
- [By Lee Jackson]
This large-cap biotech will partner with Samsung Bioepis in the biosimilar world. Biogen Inc. (NASDAQ: BIIB) discovers, develops and delivers to patients worldwide innovative therapies for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders. Founded in 1978, Biogen is one of the world's oldest independent biotech companies, and patients worldwide benefit from its leading multiple sclerosis (MS) and innovative hemophilia therapies.
- [By Cory Renauer]
Ionis still has a 75% stake in Akcea, but Waylivra's CRL is more of a speed bump than a roadblock for the RNA antisense pioneer. Investors probably don't need to worry about potential partners avoiding Ionis because of Waylivra's mishap. Spinraza, an Ionis drug that Biogen (NASDAQ:BIIB) launched at the end of 2016, hit an annualized $1.7 billion run rate in the second quarter.
- [By Chris Lange]
The S&P 500 stock posting the largest daily percentage loss ahead of the close was Biogen Inc. (NASDAQ: BIIB) which traded down over 5% at $288.75. The stock's 52-week range is $249.17 to $370.57. Volume was 3.2 million compared to the daily average volume of 1.7 million.
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