Top-rated drugmakers such as Valeant Pharmaceuticals International (VRX) and Celgene (CELG) have been busy in the lab and on Wall Street, taking part in big merger deals. Today’s IBD 50 list features five top-rated drugmakers. In addition to Valeant and Celgene, the list includes Regeneron Pharmaceuticals (REGN), Lannett (LCI) and Allergan (AGN). On Friday Biogen Idec (BIIB) priced $6 billion of senior notes, a day after Gilead Sciences (GILD)
Drug giant Allergan (AGN) and Apple (AAPL) are top favorites of hedge funds, while Express Scripts Holding (ESRX), Walt Disney (DIS) and IBM (IBM) lead the list of most shorted stocks, according to a Goldman Sachs report. Allergan in early August only modestly beat analysts’ Q2 consensus estimates, and its stock fell shortly after the stock touched its all-time high above 340. Shares were down 1% in midday trading in the stock market today, near
Drug giant and IBD 50 stock Allergan (AGN) modestly beat analysts’ Q2 consensus Thursday, but it put off guidance for another month as it sorts through the impact of recent M&A. Allergan’s earnings, excluding one-time items, rose 29% from the year-earlier quarter to $4.41 a share, beating analysts’ consensus by 3 cents, according to Thomson Reuters. Revenue jumped 116% to $5.76 billion, or $5.73 billion excluding divested Western European assets,