Investors have mostly had one reaction to drugmakers’ earnings this quarter: Slam that big red “sell” button, and slam it hard.
The latest no good, very bad earnings season started with Johnson & Johnson , which on Oct. 17 raised its full-year guidance and announced third quarter earnings that beat Wall Street estimates. Shares fell 0.9% anyhow, eventually sliding to a 52-week low on October 27. The selloffs came at a low ebb in investor sentiment around big pharma, with the exception of the two companies behind the new anti-obesity drugs, Eli Lilly and Novo Nordisk . While Lilly’s shares are up 55.8% this year, and Novo’s are up 45.5%, the rest of the sector is trailing the market. In a year when the S&P 500 is up 13.5%, Pfizer is down 39%, Bristol Myers down 26.7%, Merck down 6.6%, and Johnson & Johnson down14.3%.
Despite all those headwinds, shares of a few of the drugmakers still seem cheap, especially after the recent selloffs. One is Merck. “We see MRK’s diversified pipeline/portfolio…as being increasingly well-equipped with commercial opportunities with the potential to generate sustained growth over the intermediate and longer term,” Goldman Sachs analyst Chris Shibutani wrote in an October 27 note. Shibutani has a Buy rating and a $131 target price on the stock.
대한민국 최근 뉴스, 대한민국 헤드 라인
Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.
출처: Investingcom - 🏆 450. / 53 더 많은 것을 읽으십시오 »
출처: Forbes - 🏆 394. / 53 더 많은 것을 읽으십시오 »
출처: axios - 🏆 302. / 63 더 많은 것을 읽으십시오 »