In response to the Dow component Pfizer Inc declaration about a deal of $16 billion, U.S. stocks rallied.
Health care stocks were generally dropped with the NYSE Health Care Sector Index tumbling 0.8% and shares of health care companies in the S&P 500 also dipping 0.9% as a group.
Details about some major losers from Healthcare Sector, during Friday’s trade are described below:
Gilead Sciences Inc. (NASDAQ:GILD), traded in a 52-week range of $63.50 to $116.83, with shares dropped -2.42% at $97.48 in pre-market trade, as Credit Suisse downgraded Gilead to Neutral and lowered its price target to $115 from $130. This downgrade came on strong hepatitis C vaccine (HCV) headwinds and also resulted in lower estimates for earnings per share (EPS).
The new target price is based on a multiplier of 13.8 times 2016 EPS projections of $8.31. This is roughly a 10% discount from the 2016 S&P 500 price-to-earnings (P/E) multiple. Credit Suisse has estimates, in terms of the compound annual growth rate, for 2015 through 2018 as -7% in proceeds and -8% in EPS.
Mehrotra indicated that the company needs to “refocus on the pipeline” which will most likely happen in mid to late 2015.
Mehrotra estimated that Gilead’s market share of HCV will move from 80 percent in 2015 to 60 percent by 2019. The firm revised HCV franchise proceeds downward and by 2018 saw proceeds at $10.2 billion, as compared to the previous estimate of $14.1 billion.
Gilead Sciences Inc. (NASDAQ:GILD), formerly declared that declared recently that the company’s Board of Directors has authorized a dividend program under which the company intends to pay quarterly dividends of $0.43 per share, starting in the second quarter of 2015, subject to quarterly declarations by the Board of Directors. The Board of Directors also approved the repurchase of up to an additional $15.0 billion of the company’s ordinary stock. This new program is in addition to the presently authorized three-year $5.0 billion repurchase program (authorized in May 2014).
Gilead Sciences Inc. (NASDAQ:GILD), is a biopharmaceutical company that discovers, develops and commercializes innovative therapeutics in areas of unmet medical need. The company’s mission is to advance the care of patients suffering from life-threatening diseases worldwide.
CVS Health Corporation, (NYSE:CVS), declined -0.15% and settled at $100.61, as On the one-year anniversary of its decision to stop tobacco sales, a pharmacy innovation company, formerly released new data showing that its messages about the importance of quitting smoking for good are reaching millions of Americans and that its smoking cessation program is providing personalized counseling and smoking cessation products, when appropriate, to hundreds of thousands more. This outreach reflects CVS Health’s commitment to assisting people on their path to better health by becoming tobacco-free.
CVS Health Corporation, (NYSE:CVS), is a pharmacy innovation company assisting people on their path to better health. Through our 7,800 retail pharmacies, more than 900 walk-in medical clinics, a leading pharmacy benefits manager with nearly 65 million plan members, and expanding specialty pharmacy services, we enable people, businesses and communities to manage health in more affordable, effective ways.
Anthem, Inc. (NYSE:ANTM), diminished nearly -1.12% to $135.69, soon after a health benefits company, data has been hacked. After that Anthem Alerts consumers to protect themselves from scam email campaigns.
Anthem, Inc. (NYSE:ANTM), a health benefits company, through its auxiliaries, provides a range of medical products in the United States. The company offers a spectrum of network-based managed care health benefit plans to large and small employer, individual, Medicaid, and senior markets. Its managed care plans comprise preferred provider organizations.
TrovaGene, Inc. (NASDAQ:TROV), showed a negative movement of -23.59% to end at $4.47, following the news that a developer of cell-free molecular diagnostics, declared the pricing of an underwritten public offering of 4,444,444 shares of its ordinary stock. The gross proceeds to Trovagene from this offering are predictable to be about $20 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Trovagene. The offering is predictable to close on or about February 11, 2015, subject to customary closing conditions. Trovagene has also granted to the underwriters a 30-day option to purchase from it up to an additional 666,666 shares of its ordinary stock.
TrovaGene, Inc. (NASDAQ:TROV), is leveraging its proprietary technology for the detection and monitoring of cell-free DNA in urine. The Company’s technology detects and quantitates oncogene mutations in cancer patients for improved disease administration.
Ohr Pharmaceutical, Inc. (NASDAQ:OHRP), traded in a 52-week range of $6.01 to $20.00 with shares dropped -8.38% at $7.00 in pre-market trade, as an ophthalmology research and development company, declared the pricing of its formerly declared underwritten public offering of 3,703,704 million shares of its ordinary stock at a public offering price of $6.75 per share for gross proceeds of about $25 million, before deducting estimated underwriting discounts and commissions and other estimated offering expenses. Ohr has also granted the underwriters a 30-day option to purchase up to an additional 555,555 shares of ordinary stock from Ohr to cover overallotments, if any, which would result in additional gross proceeds of about $3.8 million if exercised in full. Ohr intends to use the net proceeds from the public offering to fund clinical trials of OHR-102, the development of its preclinical pipeline, and other general corporate purposes. The offering is predictable to close on February 11, 2015, subject to customary closing conditions.
Ohr Pharmaceutical, Inc. (NASDAQ:OHRP), is an ophthalmology research and development company. The company’s lead product, Squalamine, is presently being studied as an eye drop formulation (OHR-102) in several company sponsored and investigator sponsored Phase II clinical trials for various back-of-the-eye diseases, counting the wet form of age-related macular degeneration, retinal vein occlusion, diabetic macular edema, and proliferative diabetic retinopathy.
