George Rho • 15 Comments
Tue, Feb. 9, 12:48 PM
Aug. 7, 2015, 5:40 PM
Jul. 24, 2015, 5:31 PM
- Signet Jewlers (NYSE:SIG) is replacing DirecTV (just acquired by AT&T) in the S&P 500 after Tuesday's close. Parexel (NASDAQ:PRXL) is taking Signet's spot in the S&P MidCap 400, and Enanta Pharma (NASDAQ:ENTA) is taking Parexel's spot in the S&P SmallCap 600.
- Also: Catalent (NYSE:CTLT) is replacing JDS Uniphase (JDSU - about to carry out a spinoff) in the S&P 400 after the July 31 close. What's left of JDSU (to be known as Viavi) will replace Susquehanna Bancshares (about to be acquired) in the S&P 600, while its Lumentum Holdings spinoff will replace Comstock Resources (NYSE:CRK) in the 600.
- SIG +2.5% AH. PRXL +0.7%. ENTA +4%. CTLT +3%.
Feb. 6, 2015, 5:37 PM
Dec. 22, 2014, 9:17 AM
Dec. 22, 2014, 7:53 AM
- AbbVie (NYSE:ABBV) is up 4% on moderately-higher volume and Enanta Pharmaceuticals (NASDAQ:ENTA) is up 11% on light volume in response to AbbVie's deal with Express Scripts (NASDAQ:ESRX).
- Gilead Sciences (NASDAQ:GILD) is off 7% on high volume.
- Previously: AbbVie's new hepatitis C drug gets boost (Dec. 22, 2014)
Jan. 31, 2014, 12:46 PM
Jan. 31, 2014, 9:46 AM
- AbbVie (ABBV) +3.5% in early trading despite reporting a 27% Y/Y drop in Q4 earnings, as the company releases positive results on its final-phase clinical trials for a promising new drug to treat certain patients with hepatitis C.
- ABBV says it is on track to begin major regulatory submissions of the drug early in Q2.
- ABBV’s blockbuster drug Humira eclipsed $10B in sales in 2013, making it the highest-grossing drug in the world; sales of the drug rose 13.4% during Q4 to $3.04B.
- Overall net sales fell 1.8% to $5.11B, despite the Humira figures; sales of its Niaspan, TriCor and Trilipix cholesterol drugs fell by nearly 90% because of the introduction of generics..
- Sees FY 2014 EPS of $3.00-$3.10 vs $3.16 analyst consensus estimate and revenue of $19B vs. $19.12B consensus; results exclude any potential revenue from the expected 2014 launch of the hepatitis C drug.
- Shares of Enanta Pharmaceuticals (ENTA +14%), a close ABBV partner, are up sharply.
Jan. 31, 2014, 9:09 AM
Dec. 18, 2013, 12:45 PM
Dec. 18, 2013, 10:56 AM
- Shares of Enanta (ENTA -15.4%) are getting hit hard in morning trading.
- Likely behind the move is upbeat data from GILD regarding impressive SVR12 rates from Phase 3 studies of a sofosbuvir/ledipasvir combo in GT1 HCV.
- ENTA discovered ABT-450, one of the compounds in ABBV's 3D GT1 HCV regimen.
- For more on ENTA/ABBV, see here and here.
Dec. 10, 2013, 12:45 PM
Nov. 27, 2013, 3:49 PM
Aug. 12, 2013, 2:34 PM
- Enanta Pharmaceuticals (ENTA +6%) moves up after beating FQ3 estimates earlier this morning.
- EPS losses came in at $0.23 per share, on revenues of $1.6M.
- Analysts expected loss per share of $0.31.
- In the same period last year, net loss was $3.5M, or $4.31 per share, on revenues of $2.5M.
- Cash and equivalents totaled $114.8M at the end of June, compared to $45.4M on September 30, 2012.
- The company expects that its current cash, cash equivalents and marketable securities will be sufficient to meet anticipated requirements for at least the next 24 months.
Apr. 15, 2013, 2:29 PMWith the quiet period out of the way, a number of firms initiate coverage on recent IPO Enanta Pharmaceuticals (ENTA +2.6%) today; JPMorgan with an Overweight, and Lerrink Swann and Credit Suisse both with an Outperform (I, II). CSFB says that using conservative assumptions, the HCV market could reach $13B by 2020, which translates to a doubling of patients treated. Enanta develops drugs for the treatment of a number of various infectious diseases, with HCV being one of its key areas. | Apr. 15, 2013, 2:29 PM
Mar. 21, 2013, 5:55 PM
Today's IPO of Enanta Pharmaceuticals (ENTA) closed +22.7% at $17.18 per share despite initially pricing 4M shares of its common stock at $14, the low-end of the expected $14-$16 range. JPMorgan and Credit Suisse acted as joint book-running managers for the IPO. Leerink Swann and JMP Securities were co-managers.| Mar. 21, 2013, 5:55 PM