|Bid||1,966.50 x 0|
|Ask||1,967.50 x 0|
|Day's range||1,957.00 - 1,993.00|
|52-week range||1,491.50 - 2,212.00|
|Beta (3Y monthly)||0.54|
|PE ratio (TTM)||13.21|
|Earnings date||14 Mar 2017 - 20 Mar 2017|
|Forward dividend & yield||0.28 (1.40%)|
|1y target est||23.92|
The U.S. Supreme Court on Monday declined to hear Acorda Therapeutics Inc's appeal of a lower court ruling that allowed generic versions of its multiple sclerosis treatment Ampyra and caused the drug's sales to plummet. The justices refused to review a September 2018 decision by the U.S. Court of Appeals for the Federal Circuit to cancel Acorda's patents covering Ampyra, a ruling the Ardsley, New York-based company and the pharmaceutical industry portrayed as a threat to innovation and bad for patients. According to Acorda, Ampyra was the first drug approved to improve walking in people with multiple sclerosis, an incurable and potentially disabling disease of the brain and spinal cord that can lead to symptoms including pain, visual impairments and difficulty walking.
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Shares in Hikma Pharmaceuticals (LON:HIK) have been in an uptrend in recent months, and the question now for investors is whether that price strength will cont8230;
Marks & Spencer's exit from the FTSE 100 underlines how times have changed since the blue-chip index was launched in 1984, when it was dominated by British companies including household names like M&S, Cadbury and House of Fraser. Home-grown talent is increasingly absent from the FTSE, now valued at $2.4 trillion, as failure to grow domestically or make the cut internationally has seen companies disappear via mergers, demotions, de-listing or privatisation. MFI Furniture was among founding members of the index that failed to survive after privately-owned IKEA entered the UK market in the 1980s.
Marks & Spencer shares fell on Monday on expectations the 135-year old retailer will be relegated from London's FTSE 100 index blue-chip stock market for the first time and a "sell" rating from Goldman Sachs. Removal from the blue chip index in its quarterly review would be another blow for Archie Norman, who became M&S chairman two years ago to work alongside Steve Rowe, who was named CEO in 2016 and has been with the company for three decades.
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European shares slid on Friday with Italian stocks 2.5% lower on political uncertainty, while comments by U.S. President Donald Trump that he was not going to make a trade deal with China also weighed on sentiment. Italy's main index touched a two month low with its bank index tumbling 4.5% after the leader of the ruling League party, Matteo Salvini, pulled his support for the country's governing coalition on Thursday and called for fresh elections.
London's FTSE 100 slipped on Friday as a mix of worries over the U.S.-China trade dispute and political turmoil in Italy weighed on heavyweight banks and miners, while the mid-cap index fell after a surprise downturn in Britain's economy last quarter. The FTSE 100 gave up 0.4% to end its worst week in three months with a 2% drop. The domestically-focused FTSE 250 handed back earlier gains to end 0.2% lower.
London-listed drugmaker Hikma improved annual revenue forecasts for its generic and injectables businesses on Friday as its boss looks to transform the company into a specialty pharma business. Hikma said it expected annual sales in its largest unit injectables in a range of $870 million to $900 million, against a prior forecast of $850 million to $900 million. The upbeat forecast comes as Chief Executive Siggi Olafsson completes a year and a half at the helm and as generic drug launches have helped offset price erosion as the Trump administration clamps down on high medicine costs.
Hikma said it expected annual sales in its largest unit injectables in a range of $870 million (£719.3 million) to $900 million, against a prior forecast of $850 million to $900 million. Hikma shares jumped to their highest level in nine months and were up 7.6% at 1,981 pence by 0858 GMT. The upbeat forecast comes as Chief Executive Siggi Olafsson completes a year and a half at the helm and as generic drug launches have helped offset price erosion as the Trump administration clamps down on high medicine costs.
Shares in London-listed companies that make the bulk of their revenue in Britain plunged in recent months as worries about a disorderly Brexit have deepened, while stocks with foreign exposure have beaten the blue-chip benchmark. Domestically focused UK stocks have been shunned by many investors since the June 2016 referendum on European Union membership, and the prospect of a staunch Brexiteer replacing Theresa May as prime minister has exacerbated that trend. JP Morgan's UK domestic plays index that tracks about 30 UK stocks that make all or most of their revenue at home took a turn for the worse in mid-April, when the Brexit deadline was extended to Oct. 31 and the prospect of a leadership change increased.
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Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! Today we will run through one way of estimating the intrinsic value of Hikma Pharmaceuticals PLC (LON...