Big-cap biotechs Biogen Idec (BIIB) and Celgene (CELG) were headed in opposite directions on the stock market today after JPMorgan upgraded one and downgraded the other. JPMorgan analyst Geoff Meacham lifted his rating on Biogen to overweight from neutral and his price target to 375 from 300. He wrote in a research note that a survey of 50 neurologists had yielded positive opinions on Tecfidera, the oral multiple-sclerosis drug that Biogen
Big-cap biotech Alexion Pharmaceuticals (ALXN) beat Q1 estimates and raised its full-year-earnings guidance Thursday, sending the stock up 3% in morning trading on the stock market. Fellow biotech giant Celgene (CELG) missed, however. Alexion reported earnings of $1.53 a share, up 135% from the year-earlier quarter and 27 cents above analysts’ consensus. Sales rose 67% to $566.6 million, topping estimates by nearly $7 million. For this year, the
It’s the middle of earnings season so smart investors need to keep an eye out for the best companies amid the flurry of reporting. Facebook (FB), Las Vegas Sands (LVS), Celgene (CELG), Biogen Idec (BIIB), MasterCard (MA) and McKesson (MCK) are all strong, large companies that are slated to report earnings this week. Illumina (ILMN) and VMware (VMW) have already reported results. All eight of the companies are featured on the Big Cap Screen of the