There are two words that no biotech likes to hear: clinical hold.
Unfortunately, Vertex Pharmaceuticals (NASDAQ:VRTX) and CRISPR Therapeutics (NASDAQ:CRSP) were on the receiving end of those words last week. The U.S. Food and Drug Administration (FDA) placed a clinical hold on the Investigational New Drug Application (IND) for experimental gene-editing therapy CTX001 in treating sickle cell disease.
Vertex and CRISPR Therapeutics stocks fell on the news of the FDA’s action. However, I think the delay presents a great opportunity for long-term investors to scoop up shares of both biotech stocks on the cheap.
What’s The Problem?
All we know so far is that the FDA has some questions related to the IND for CTX001 in treating sickle cell disease. CRISPR Therapeutics and Vertex submitted the IND for CTX001 in April with the hopes of soon beginning a phase 1/2 clinical study in the U.S.
Top 10 Biotech Stocks To Own Right Now: Alnylam Pharmaceuticals Inc.(ALNY)
- [By Cory Renauer]
Taking a medical breakthrough from concept through commercial success is like ascending a mountain that grows taller and more treacherous with every setback. It’s taken Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) 16 years to launch its first drug, so challenges have had plenty of time to take up positions along this company’s path to a successful first launch.
- [By Jim Crumly]
Commercial success for Tegsedi is not a done deal even if it’s approved worldwide; Alnylam Pharmaceuticals’ (NASDAQ:ALNY) competing drug patisiran was approved by the FDA on Aug. 10. Alnylam’s clinical testing showed cardiac benefits for patients whose cardiovascular systems have been affected by the disease, and Alnylam believes that will give patisiran an advantage over Tegsedi. But in the conference call, Akcea executives brushed off that concern and pointed to the advantage Tegsedi has in being an injection that can be delivered at home, versus patisiran, which is administered intravenously in a clinic. We shall see.
- [By Todd Campbell]
Spark Therapeutics (NASDAQ:ONCE) reported its hemophilia A drug significantly reduced bleeding events and the need for prophylactic factor VIII infusions, but investors sold shares on worry that the gene therapy’s safety could be a problem. Investors similarly headed for the exits with Rite Aid (NYSE:RAD) and Alnylam Pharmaceuticals (NASDAQ:ALNY) after the former scuttled an attempt to sell itself and the latter secured a first-in-class FDA approval. Are these falling stocks worth buying?
- [By Shane Hupp]
Get a free copy of the Zacks research report on Alnylam Pharmaceuticals (ALNY)
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- [By Sean Williams, Chuck Saletta, and Brian Feroldi]
So, which biotech stocks should you consider buying in June? That’s a question we posed to three of our healthcare-focused investors. Interestingly enough, mid-cap biotech stocks are the clear flavor of the month. If biotech is on your radar in June, our investors suggest you consider Ionis Pharmaceuticals (NASDAQ:IONS), Spark Therapeutics (NASDAQ:ONCE), and Alnylam Pharmaceuticals (NASDAQ:ALNY).
- [By Brian Orelli]
Following the Food and Drug Administration (FDA) approval of Onpattro, Alnylam Pharmaceuticals’ (NASDAQ:ALNY) first drug to treat hereditary transthyretin-mediated amyloidosis (hATTR), the biotech held a conference call to go over the plan for launch. Here are three things management wants investors to know:
Top 10 Biotech Stocks To Own Right Now: Biogen Idec Inc(BIIB)
- [By Todd Campbell]
Many companies could see share prices pop or drop based on fast-approaching news in these indications, but six companies could be particularly exciting for investors to keep tabs on from here. In this episode of The Motley Fool’s Industry Focus Healthcare, host Shannon Jones is joined by Motley Fool contributor Todd Campbell to discuss:
The imminent results for Biogen’s (NASDAQ:BIIB) Alzheimer’s disease moonshot; Why European regulators could make this a big year for bluebird bio (NASDAQ:BLUE); How targeting the cause of sickle-cell disease could pan out for Global Blood Therapeutics (NASDAQ:GBT); A new treatment for peanut allergy is around the corner thanks to Aimmune Therapeutics (NASDAQ:AIMT); Vertex Pharmaceuticals’ (NASDAQ:VRTX) big opportunity to significantly boost its addressable market; and The news that could transform Duchenne’s muscular dystrophy treatment and send Sarepta Therapeutics’ (NASDAQ:SRPT) revenue soaring.
A full transcript follows the video.
- [By Cory Renauer]
There’s a lot for investors to like about Amgen Inc. (NASDAQ:AMGN) and Biogen Inc. (NASDAQ:BIIB). Both of these biotech stocks have produced tremendous returns over the past couple of decades, and the businesses they represent still generate enormous profits.
- [By Jim Crumly]
As for individual stocks, Biogen (NASDAQ:BIIB) made headlines with positive results from a trial of an Alzheimer’s drug, and PriceSmart (NASDAQ:PSMT) fell after reporting earnings.
- [By Benzinga News Desk]
A distillery in a small Spanish town has claimed it invented the original Coca-Cola (NYSE: KO) recipe and now wants recognition: Link
Initial Jobless Claims For Week Ended May 25 221K vs 225K Economist Estimate, Down From 234K In Prior Week
Personal Income Apr. Up 0.3%, Personal Spending Up 0.6%
The Chicago PMI for May is schedule for release at 9:45 a.m. ET.
The pending home sales index for April will be released at 10:00 a.m. ET.
The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.
The Energy Information Administration’s weekly report on petroleum inventories will be released at 11:00 a.m. ET.
Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 12:30 p.m. ET.
Fed Governor Lael Brainard will speak at 1:00 p.m. ET.
Data on money supply for the recent week will be released at 4:30 p.m. ET.
Federal Reserve Bank of Dallas President Robert Kaplan is set to speak at 8:30 p.m. ET.
Canaccord upgrades Biogen (NASDAQ: BIIB) from Hold to Buy
Morgan Stanley upgrades Corning (NYSE: GLW) from Equal-Weight to Overweight
Morgan Stanley downgrades Micron (NASDAQ: MU) from Overweight to Equal-Weight
Cantor downgrades HealthEquity (NASDAQ: HQY) from Overweight to Neutral
This is a tool used by the Benzinga News Desk each trading day — it's a look at everything happening in the market, in five minutes. To get the full version of this note every morning, click here.
- [By Chris Lange]
Biogen Inc.’s (NASDAQ: BIIB) second-quarter report is scheduled for Tuesday before the markets open. The consensus estimates are $5.24 in earnings per share (EPS) on $3.26 billion in revenue. The shares ended the week trading at $357.56. The consensus price target is $367.08, and the 52-week trading range is $249.17 to $370.57.
Top 10 Biotech Stocks To Own Right Now: Amgen Inc.(AMGN)
- [By Keith Speights]
Amgen (NASDAQ:AMGN) shareholders have to be pretty happy right now. The biotech stock is up nearly 14% so far in 2018, almost twice has much as the S&P 500 index. The company reported 17% year-over-year earnings growth in its second-quarter results announced in July.
- [By Chris Lange]
Amgen Inc. (NASDAQ: AMGN) saw its short interest rise to 11.32 million shares from the previous level of 10.78 million. Shares were last seen trading at $142.15, in a 52-week trading range of $141.09 to $217.00.
- [By Max Byerly]
Wedbush Securities Inc. decreased its holdings in Amgen, Inc. (NASDAQ:AMGN) by 5.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,159 shares of the medical research company’s stock after selling 1,174 shares during the quarter. Wedbush Securities Inc.’s holdings in Amgen were worth $3,721,000 at the end of the most recent reporting period.
- [By ]
In the Lightning Round, Cramer was bullish on The Blackstone Group (BX) , Nvidia (NVDA) , Amgen (AMGN) , Regeneron Pharmaceuticals (REGN) , Hasbro (HAS) and Waste Management (WM) .
- [By Keith Speights]
Amgen’s (NASDAQ:AMGN) past is filled with excitement. The company rose to become one of the biggest biotechs in the world. It grew a product lineup with multiple blockbuster drugs. Over the last decade, Amgen’s share price has more than tripled. But the excitement appears likely to diminish considerably for Amgen — at least for the next few years.
Top 10 Biotech Stocks To Own Right Now: ArQule Inc.(ARQL)
- [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 Logan Wallace]
BidaskClub upgraded shares of ArQule (NASDAQ:ARQL) from a hold rating to a buy rating in a report released on Saturday.
A number of other research firms have also issued reports on ARQL. Roth Capital upped their price target on ArQule from $5.00 to $6.00 and gave the company a buy rating in a research report on Tuesday, April 17th. Leerink Swann upgraded ArQule from a market perform rating to an outperform rating in a research report on Thursday, April 5th. Zacks Investment Research lowered ArQule from a buy rating to a hold rating in a research report on Wednesday, April 4th. ValuEngine upgraded ArQule from a hold rating to a buy rating in a research report on Wednesday, May 2nd. Finally, B. Riley set a $4.00 price target on ArQule and gave the company a buy rating in a research report on Monday, March 26th. Seven analysts have rated the stock with a buy rating, The stock currently has an average rating of Buy and an average target price of $4.69.
- [By Lisa Levin] Gainers
Foot Locker, Inc. (NYSE: FL) rose 15.3 percent to $53.50 in pre-market trading after the company reported better-than-expected results for its first quarter.
Evofem Biosciences, Inc. (NASDAQ: EVFM) rose 10.4 percent to $4.58 in pre-market trading. Evofem Biosciences reported closing of public offering of common stock and warrants.
Resonant Inc. (NASDAQ: RESN) rose 7.3 percent to $4.88 in pre-market trading after declining 1.94 percent on Thursday.
SolarEdge Technologies, Inc. (NASDAQ: SEDG) shares rose 5.7 percent to $59.65 in pre-market trading after falling 8.43 percent on Thursday.
Yirendai Ltd. (NYSE: YRD) rose 5 percent to $30.00 in pre-market trading after reporting Q1 results.
Deckers Outdoor Corp (NYSE: DECK) rose 4.9 percent to $108.75 in pre-market trading after reporteingd better-than-expected results for its fiscal fourth quarter.
Blue Apron Holdings, Inc. (NYSE: APRN) rose 4.2 percent to $3.21 in pre-market trading after gaining 3.70 percent on Thursday.
Recro Pharma, Inc. (NASDAQ: REPH) rose 4 percent to $5.85 in pre-market trading after dropping 54.67 percent on Thursday.
ArQule, Inc. (NASDAQ: ARQL) rose 3.8 percent to $4.70 in pre-market trading after gaining 4.86 percent on Thursday.
Babcock & Wilcox Enterprises, Inc. (NYSE: BW) shares rose 2.9 percent to $2.85 in pre-market trading after climbing 7.78 percent on Thursday.
Bilibili Inc. (NASDAQ: BILI) shares rose 2.5 percent to $14.20 in pre-market trading after surging 11.33 percent on Thursday.
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