Alpha Gen Capital
Fri, Jul. 8, 7:03 PM
- Bill Ackman has cut back again in Zoetis (ZTS +1.7%), the animal health firm spun off from Pfizer.
- His Pershing Square Capital Management unloaded another 6.1M shares, reducing his stake to 3.8% from a previous 5%. That means (as of June 15) the stake is below the mandatory line for reporting beneficial ownership.
- Ackman was once one of Zoetis' largest shareholders, with an 8% stake.
- After hours: ZTS -0.04%.
Jun. 26, 2015, 11:04 AM| Jun. 26, 2015, 11:04 AM | 18 Comments
Dec. 4, 2014, 7:24 AM
- Thinly-traded nano cap Kindred Biosciences (NASDAQ:KIN) plummets 24% premarket on robust volume in response to its announcement that it is terminating its atopic dermatitis program, including its AtoKin study, in favor of more promising programs.
- CEO Richard Chin says the main reason for the move is the rapid uptake of a recently-launched atopic dermatitis product that has raised the bar for future competitors. He doesn't believe AtoKin is differentiated enough to be a market leader.
- Kindred has been in a down trend March. Shares have dropped almost 75% since the March 14 peak of $26.99.
- BMO analyst Alex Arfaei says Kindred's decision is "incrementally positive" for Zoetis' (NYSE:ZTS) Apoquel, which could hit $300M in sales by 2019.
Nov. 11, 2014, 4:16 PM
- The presence of Pershing Square's Bill Ackman on the list of major investors in Zoetis (NYSE:ZTS) sends a clear signal that it may be an acquisition target by none other than Valeant Pharmaceuticals (NYSE:VRX). A deal is not out of the question in light of its diminishing prospects of acquiring Allergan (NYSE:AGN) since Actavis (NYSE:ACT) joined the mix.
- In after hours trading, VRX is up a fraction and ZTS is unchanged, both on higher-than-normal volume.
- Previously: Zoetis jumps 6% on report of Ackman stake
Nov. 11, 2014, 3:48 PM
- Bill Ackman's Pershing Square has taken a ~$2B stake in Zoetis (NYSE:ZTS), and may push for a sale to a large drug maker like Valeant Pharmaceuticals (NYSE:VRX), sources tell Dow Jones.
- The stake would amount to ~10% of Zoetis, and includes an investment by fellow hedge fund Sachem Head Capital Management.
- ZTS recently +7.2%.
- Related: Zoetis CEO Juan Alaix on Q3 2014 Results
Sep. 3, 2014, 9:11 AM
Jul. 5, 2013, 9:49 AM
More on BofA's Zoetis (ZTS +2.8%) upgrade which has the shares trading solidly higher on the session: Analyst Robert Willoughby likes the prospects for EBITDA margin improvement in the coming years as a new ERP system and "changes in manufacturing and supply chain processes" should help reduce inventory.| Jul. 5, 2013, 9:49 AM
May 22, 2013, 8:18 AM
Pfizer (PFE) plans to spin off its remaining stake in Zoetis (ZTS) through a tax-free exchange offer in which Pfizer owners can exchange their Pfizer shares for stock in Zoetis owned by Pfizer (got that?). Pfizer has received a waiver of the 180-day lock-up from the book runners of the Zoetis IPO. PFE +2.1%, ZTS -1.2% premarket. (PR)| May 22, 2013, 8:18 AM | 11 Comments
Feb. 3, 2013, 3:18 AM
Pfizer (PFE) animal-health spin-off Zoetis (ZTS) forecasts annual growth of 5.7% through 2016, CEO Juan Ramon Alaix tells Bloomberg. He points out that drug failure rates are lower than with human medicines, as there are fewer safety concerns and because animals don't live as long. "Side effects are very rare in our industry, especially in livestock," Alaix says. Zoetis had a stonking NYSE debut on Friday, jumping 19% to close at $31.01 for a market cap of $15.51B.| Feb. 3, 2013, 3:18 AM | 1 Comment
Feb. 1, 2013, 10:22 AM
Zoetis (ZTS) opens at $31.50, rising 21% from its $26 initial pricing last night - which had already been priced above the expected range of $22 to $25 due to high demand. The animal nutrition spinoff from Pfizer (PFE) raised $2.2B, making it the largest IPO from a U.S. firm since Facebook.| Feb. 1, 2013, 10:22 AM | 3 Comments
Feb. 1, 2013, 9:50 AM