Biogen Inc. (BIIB) stock prices updated...
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Biogen Inc. stock price
Biogen Inc. latest news:
Biotech ETF on track for fourth straight daily rise, hits highest level since 2015
The largest exchange-traded fund to track the biotechnology sector rallied on Thursday, moving in its biggest one-day percentage pop since June as it hit levels not seen since early 2016. The iShares Nasdaq Biotechnology ETF jumped 2.3% to $331.62, and earlier rose as high as $333.30. That represented the highest level for the fund since the last trading day of 2015, according to FactSet data. The ETF has been a strong performer of late. Thursday is set to be its fourth straight daily increase; for the week it is up 6.6%, on pace for its biggest weekly gain since June. Among the fund's biggest gainers, Biogen Inc. added 3.9% while BioMarin Pharmaceutical Inc. was up 2.2% and Gilead Sciences added 2.1%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Biotech stocks rally, ETF on track for third straight daily gain
Biotechnology stocks rallied on Wednesday, with one of the biggest exchange-traded funds dedicated to the sector on track for its third straight daily advance. The iShares Nasdaq Biotechnology ETF gained 1.3%, bringing its week-to-date rise to 3.6%. Among the biggest gainers in the sector, Gilead Sciences Inc. popped 5.6%, bringing its gain over the past three months to 23.7%. The stock is on track for its largest percentage gain since November, as well as its highest close since September 2016. Separately, Incyte Corp. added 4.5% while BioMarin Pharmaceutical Inc. advanced 4.8%. Biogen Inc. gained 2.4% while Regeneron Pharmaceuticals Inc. was up 2%. On the downside within the pharmaceutical sector, U.S.-listed shares of Novartis AG were down 1%. The company's CAR-T cell therapy was approved by the Food and Drug Administration on Wednesday, making it the first gene therapy to be available in the U.S. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Samsung, Biogen version of AbbVie's Humira approved in Europe
Aug 24 (Reuters) - Biogen Inc's version of AbbVie
Inc's blockbuster arthritis drug Humira has been
approved by European Union regulators, Biogen and joint venture
partner Samsung Biologics said on Thursday.
Reps. Cummings, Welch to launch investigation into multiple sclerosis drug prices
Rep. Elijah Cummings (D-Md.) and Rep. Peter Welch (D-Vt.) said Thursday morning that they are launching an investigation into multiple sclerosis drug prices, and have sent letters to seven pharmaceutical companies about their pricing strategies. Letters were sent to Bayer AG , Biogen Inc. , Merck & Co.'s EMD Serono, Novartis AG , Sanofi SA , Teva Pharmaceutical Industries Ltd. and Roche Holding AG . Biogen shares declined 2.9% in heavy midday trade and Teva shares declined 1.1% in moderate trade. The lawmakers asked for information to evaluate multiple sclerosis drugs' "substantial price increases, including information about corporate profits and expenses and documents concerning pricing strategies, patient assistance programs, and drug distribution systems," and requested a response by the end of the month. The average price of a multiple sclerosis disease-modifying therapy rose from $16,000 in 2004 to about $84,000 in 2017, according to the National Multiple Sclerosis Society (the numbers refer to average wholesale price, which does not reflect often-substantial discounts and rebates). Prices for drugs sold by the seven drugmakers have increased by as much as 1,002% since 2012, according to information from the National Multiple Sclerosis Society cited by the two representatives. The lawmakers said that their letter referred to an American Academy of Neurology study that found "some drug companies appear to be increasing their prices and setting new, higher prices in lockstep in competitors," which may reflect a phenomenon called "shadow pricing" in which companies respond to eachothers' price increases. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Goldman Sachs adds Biogen to its Americas Conviction List
Goldman Sachs added Biogen Inc. to its Americas Conviction List on Wednesday. Biogen shares surged as much as 1.4% in premarket trade Wednesday. Biogen was previously upgraded to buy in late July by Goldman. Goldman Sachs analyst Terence Flynn said there could be a 17% upside to his $338 price target, and that Biogen's lead Alzheimer's drug, aducanumab, "could be one of the first disease-modifying drugs to reach the market," with a peak sales projection of $12 billion. "On BIIB's base [multiple sclerosis] franchise, we view investor concerns on competition and pricing as overblown," Flynn said. "Finally, BIIB has a relatively under-leverage balance sheet, and we expect [free cash flow yield] and US cash to grow." Biogen shares have surged 11.8% over the last three months, compared with a 2.7% rise in the S&P 500 .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
UPDATE 3-After strong quarter, Biogen rolls out growth strategy
* Spinraza sales of $203 mln smash analyst estimates of $70
Biogen stock surges nearly 6% on Q2 profit, revenue beats
Biogen Inc.(BIIB) shares surged 5.8% in premarket trade Tuesday after the company reported second-quarter profit and revenue beats. Earnings for the latest quarter fell to $863 million, or $4.07 per share, from $1.05 billion, or $4.79 per share in the year-earlier period. Adjusted earnings-per-share were $5.04, compared with the FactSet consensus of$ 4.37.
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