AbbVie’s (ABBV) – Get AbbVie, Inc. Report selloff was overdone after a Sept. 1 setback for its star immunology drug Rinvoq, and the stock remains undervalued, says BMO analyst Gary Nachman.
He has an outperform rating and a $133 price target. The stock recently traded at $106.61, down 0.81%, and has dropped 12% since Aug. 31.
On Sept. 1, the Food and Drug Administration mandated new heart safety and cancer warnings for Rinvoq and other companies’ JAK inhibitor class of medicines.
“Physicians agreed Rinvoq is still likely to get approved for atopic dermatitis (AD), given its overall risk/benefit,” Nachman said. “Even with limited use, it could still be a solid opportunity.”
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So, “Our sensitivity analysis to already conservative Rinvoq forecasts suggests the selloff has been overdone,” he said.
Top Undervalued Stocks To Watch Right Now: Kadmon Holdings, Inc.(KDMN)
Kadmon Holdings, Inc., a biopharmaceutical company, discovers, develops, and commercializes small molecules and biologics primarily for the treatment of inflammatory and fibrotic diseases. Its lead product candidates include Belumosudil (KD025), an orally administered selective inhibitor of the rho-associated coiled-coil kinase 2 (ROCK2), which is in Phase II clinical trial for the treatment of chronic graft-versus-host, as well as systemic sclerosis, an autoimmune disease characterized by chronic inflammation, fibrosis, and vascular damage; KD045, an oral inhibitor of ROCK for the treatment of fibrotic diseases; and KD033, an anti-PD-L1/IL-15 fusion protein for the treatment of cancer. The company also engages in developing Tesevatinib to treat autosomal dominant polycystic kidney disease; and CLOVIQUE, a trientine hydrochloride capsules for the treatment of Wilson's disease. Kadmon Holdings, Inc. has strategic collaborations and license agreements with Nano Terra, Inc. and Dyax Corp. Kadmon Holdings, Inc., was incorporated in 2010 and is headquartered in New York, New York.
Advisors’ Opinion:
- [By Shane Hupp]
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- [By Max Byerly]
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- [By Brian Orelli]
Shares are Kadmon (NYSE:KDMN) are up 15.8% at 11:42 a.m. EDT Tuesday after the company announced late yesterday that it was selling a little over 30 million shares for $3.30 per share.
- [By Joseph Griffin]
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Top Undervalued Stocks To Watch Right Now: Alphabet Inc.(GOOGL)
As our founders Larry and Sergey wrote in the original founders letter, “Google is not a conventional company. We do not intend to become one.” As part of that, they also explained that you could expect us to make “smaller bets in areas that might seem very speculative or even strange when compared to our current businesses.” From the start, the company has always strived to do more, and to do important and meaningful things with the resources we have. To help accelerate this, we announced plans in August 2015 to create a new public holding company, called Alphabet. Alphabet is a collection of businesses — the largest of which, of course, is Google. It also includes businesses that we combine as Other Bets and generally are pretty far afield of our main Internet products such as Verily, Calico, X, Nest, GV, Google Capital and Access/Google Fiber. Our Alphabet structure is about helping businesses within Alphabet prosper through strong leaders and independence. Advisors’ Opinion:
- [By ]
Google’s parent Alphabet (GOOGL), Amazon.com (AMZN), Facebook (FB), Tesla (TSLA), and Berkshire Hathaway (BRK.B) don’t pay dividends. That group, excluding Amazon.com and Tesla, have repurchased billions in stock in the past year—the method of returning capital to shareholders preferred by Berkshire CEO Warren Buffett.
- [By ]
It's also extremely top-heavy, with Apple, Microsoft, Amazon.com (AMZN), Google parent Alphabet (GOOGL) and Facebook (FB) alone accounting for more than a third of the fund's weight.
Top Undervalued Stocks To Watch Right Now: Celanese Corporation(CE)
In this Annual Report on Form 10-K, the term “Celanese” refers to Celanese Corporation, a Delaware corporation, and not its subsidiaries. The terms “Company,” “we,” “our” and “us” refer to Celanese and its subsidiaries on a consolidated basis. The term “Celanese US” refers to the Company’s subsidiary, Celanese US Holdings LLC, a Delaware limited liability company, and not its subsidiaries. Industry This Annual Report on Form 10-K includes industry data obtained from industry publications and surveys as well as our own internal company surveys. Third-party industry publications, surveys and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable. Overview We are a global technology and specialty materials company. Advisors’ Opinion:
- [By Joseph Griffin]
Wellington Shields Capital Management LLC decreased its stake in shares of Celanese Co. (NYSE:CE) by 9.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,250 shares of the basic materials company’s stock after selling 550 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Celanese were worth $472,000 as of its most recent SEC filing.
- [By Ethan Ryder]
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