AMGN News and Headlines - Amgen Inc
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- New Purchases:
SomaLogic is joining the growing number of companies going public via special purpose acquisition companies. The Boulder, Colorado-based health care company plans to merge with CM Life Sciences II Inc. (CMIIU), whose lead entity is Casdin Capital LLC, a life-sciences investment group with $1.3 billion in assets under management.
The deal is expected to close sometime in the third quarter. When it does, SomaLogic will trade under the ticker SLGC. Since the merger's announcement, CM Life Sciences shares are up just more than $1 to about $14. The company went public in late February at $10 a share.
SomaLogic develops
The stock of Amgen (NAS:AMGN, 30-year Financials) is estimated to be fairly valued, according to GuruFocus Value calculation. GuruFocus Value is GuruFocus' estimate of the fair value at which the stock should be traded. It is calculated based on the historical multiples that the stock has traded at, the past business growth and analyst estimates of future business performance. If the price of a stock is significantly above the GF Value Line, it is overvalued and its future return is likely to be poor. On the other hand, if it is significantly below the GF Value Line, its
If you want to increase the resilience of your portfolio to make it stronger, the following three defensive stocks may suit you when economic conditions deteriorate.
These stocks have continued to generate earnings and dividends during economic recessions as they offer goods and services on which people are not disposed to cut their spending in times of financial distress. Also, investing in these stocks, as of the time of writing, implies the payment of a tolerable cost as indicated by compelling price-earnings ratios compared to the S&P 500's ratio of 40.43.
Sell-side analysts on Wall Street are positive about these
In Amgen Inc.'s (AMGN) recent agreement to buy small cancer drug developer Five Prime Therapeutics Inc. (FPRX) for nearly $2 billion, there seems to be a message for investors in other small biotechs: stay the course.
Investors who bailed out the San Francisco-based cancer company's stock when it cratered to under $2 last March are undoubtedly kicking themselves. But you can't blame them for dumping the shares. For years, Five Prime had been plagued by a series of setbacks, culminating in disappointing data for a drug it was developing with Bristol-Myers Squibb Co. (BMY).
Shareholders who hung in through the
Seeking to beef up a product line dominated by the cancer drug Keytruda, Merck & Co. Inc. (MRK) has made another in a series of acquisitions. The Kenilworth, New Jersey-based drug giant is paying nearly $2 billion to acquire Pandion Therapeutics Inc. (PAND), a Watertown, Massachusetts-based biotech developing drugs for autoimmune diseases.
The deal follows several other relatively modest purchases: $425 million to buy OncoImmune, a Maryland-based biotech; almost $3 billion for VelosBio, a San Diego-based maker of antibody cancer drugs; and Themis, a privately held developer of vaccines and therapies for infectious diseases and cancer.
Analysts and shareholders hope
Shares of Redwood City, California-based Coherus BioSciences Inc. (CHRS) are up about 13% just a week after announcing it has cut a $150 million deal with Chinese drugmaker Junshi Biosciences Co. Ltd. (HKSE:01877). Under terms of the agreement, Coherus will receive U.S. and Canadian rights to Junshi's anti-PD-1 antibody toripalimab. Monoclonal antibodies that target either PD-1 or PD-L1 can boost the immune response against cancer cells.
Toripalimab was first approved in China for previously treated melanoma in late 2018. Junshi could receive $380 million more from Coherus if the drug succeeds and other milestones are met, according to an BioPharma
"It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price," Warren Buffett (Trades, Portfolio) famously said in his 1989 letter to the shareholders of Berkshire Hathaway (BRK.A)(BRK.B).
This quote had achieved widespread popularity because, as many value investors have found out the hard way, it can be all too easy to fall into the trap of thinking a stock is a good bargain simply because it is cheap. However, that is not the case – it is just as common for a cheap stock to deserve its
"The stock market is a device which transfers money from the impatient to the patient."
—Warren Buffett (Trades, Portfolio)
As we enter 2021, it appears that Buffett had things upside down in 2020. The things which had gone up the most by the end of 2019, went up the most in 2020. We invest on behalf of clients who want to avoid stock market failure and history shows most investors are impatient and are like a car stalled on the railroad tracks. A picture of the most impatient investors/option traders tells the story:
This is an exciting time for dividend growth investors as it seems companies of all sizes and industries are announcing dividend increases. We will highlight three large companies that have provided their shareholders with at least a 10% dividend increase in recent weeks.
Amgen
Amgen Inc. (AMGN) is one of the leading independent biotech companies in the world. The company discovers, develops, manufactures and brings to market medicines used to treat a whole host of ailments, including rheumatology, osteoporosis and inflammation, among other areas. Amgen has a market capitalization of $132.5 billion and generated more than $23 billion in sales
Glenview Capital Management recently disclosed its portfolio updates for the third quarter of 2020, which ended on Sept. 30.
Founded by Larry Robbins (Trades, Portfolio) in 2000, Glenview is a New York-based hedge fund that focuses on deep fundamental research and individual security selection. It operates via Two Funds: the Glenview Fund, which runs a long-short strategy, and the Glenview Opportunity Fund, a more concentrated and opportunistic vehicle. The firm primarily focuses on U.S. securities, though it also has some exposure to Western Europe. The majority of its investments are in the health care industry.
Based on
Value investors may be interested in the following three securities, as they meet these criteria:
- Their price-earnings ratios stand below 20.
- Their record of earnings and sales generation is consistent. On a per share basis, both earnings and revenue have improved over the past five years, while no losses were posted over this period.
- These stocks have received positive recommendation ratings from Wall Street sell-side analysts.
Berkshire Hathaway Inc
The first stock that makes the cut is Berkshire Hathaway Inc. Class A shares (BRK.A).
The Omaha, Nebraska-based international conglomerate holding company saw its trailing 12-month revenue per
In a GuruFocus article on Nov. 17, I took a look at three of the nine public Chinese biotechnology companies that are projected to become major international competitors in the coming years, according to FiercePharma. In this article, let's take a look at the prospects for numbers four through six on the list.
Hua Medicine
Shanghai-based Hua Medicine (HKSE:02552) is somewhat of an outlier on the list since the company is working on drugs for diabetes and central nervous system disorders (unlike the others on the list whose focus is cancer).
Hua is banking heavily on its diabetes
Pharmaceuticals is the only sector that has all three characteristics foreign investors are looking for in Chinese investments: an industry that will consolidate, pro-growth policy reform and support and innovation. So said John Yung, Citi head of Asia health care research, according to an article in the South China Morning Post.
It's clear that China is committed to becoming a major player in biotechnology, and the government is taking steps to help its home-based companies meet that goal. To enable innovative drugs get to market faster, China's version of the Food and Drug Administration started to allow foreign clinical data
Accounting is the language of investing and finance. As with any language, it is very helpful to have a set of standardized rules and conventions that allow different parties to understand one another. This is what generally accepted accounting principles, or GAAP, are - a standard that allows investors to compare different types of companies to one another. With that being said, even the best accounting is only a picture of reality, and any picture can only capture part of the truth.
Oakmark Funds portfolio manager Bill Nygren (Trades, Portfolio) recently gave an interview
Promising results from a study of its cancer drug pushed Mirati Therapeutics Inc. (MRTX) to an all-time high Monday. Shares of the San Diego-based biotech hit more than $210 and are at about $205 on Tuesday. Meanwhile, the stock of rival Amgen Inc. (AMGN) slid to a four-month low before closing at just under $225.
Mirati and Amgen are in a race to find which of the companies' drugs work best in treating defects in the gene called KRAS. KRAS mutations are found in many lung, colorectal and pancreatic cancers, and the lack of an approved therapy designed to attack
The health care strategy analyst at Jefferies said he expects to see acquisitions in the pharma and biotech space in the $5 billion to $10 billion range, according to an article in FierceBiotech. The publication enlisted the help of Jeffries' Jared Holtz to compile a list of the 10 top industry takeover targets.
Holtz thinks that most deals going forward will be those of the mid-size variety. That rules out several companies that were once the most highly coveted but have since become too expensive, including Seattle Genetics Inc. (SGEN), Vertex Pharmaceuticals (VRTX) and Regeneron Pharmaceuticals Inc. (REGN).
Holz thinks
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