Pharmacyclics Rumor: How Some Wall Street Analysts Are Reacting
Adam Feuerstein (@adamfeuerstein), of TheStreet, tweeted a note on the news from Bernstein's trading desk.
— Adam Feuerstein (@adamfeuerstein) February 25, 2015
Leaving all comments on Bernstein’s spelling aside (because, in fact, Microsoft Word changes “sceptical” to “skeptical” automatically), a few things from the report can be highlighted:
- The firm is skeptical about Pharmacyclics being for sale.
- Valuation looks “a bit too pricey (…) In other words: you have a $1B asset generating $30B in biotech company valuation.”
- Although Ibrutinic could work in combo with PD-L1 in treating cancer, it was only tested on mice, so the hype is a little unjustified.
It seems like Deutsche Bank also believes the valuation is too high.
The firm recently cut Pharmacyclics’ stock rating to a Hold, following the steep increase in stock price.
Latest Ratings for PCYC
|Mar 2015||Leerink Swann||Downgrades||Outperform||Market Perform|
|Mar 2015||Wells Fargo||Downgrades||Outperform||Market Perform|
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