Analyst Calls AbbVie (ABBV) Takeover of Pharmacyclics (PCYC) 'Desperate'
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Wells Fargo Downgrades Pharmacyclics (PCYC) to Market Perform
March 5, 2015 1:16 PM ESTWells Fargo downgraded Pharmacyclics (NASDAQ: PCYC) from Outperform to Market Perform with a price target of $261.25. Analyst Matthew Andrews thinks there is a high likelihood its deal with Abbvie closes.
For an analyst ratings summary and ratings history on Pharmacyclics... More
Nomura Downgrades Pharmacyclics (PCYC) to Neutral; Deal Supports Further M&A (INFI) (RCPT) (ICPT) (INCY) (NBIX) (GEVA)
March 5, 2015 1:15 PM ESTNomura Securities analyst M. Ian Somaiya downgraded Pharmacyclics (NASDAQ: PCYC) from Buy to Neutral with a price target of $261.25 (from $196.00) after the company agreed to be acquired by AbbVie (NYSE: ABBV) at the same price.
Somaiya said the deal has positive implications for Neutral-rated... More
Positive Read-Through for Gilead Sciences (GILD) from ABBV/PCYC Deal
March 5, 2015 9:02 AM ESTAbbvie (NYSE: ABBV) takeover of Pharmacyclics (NASDAQ: PCYC) could have a positive read-through for Gilead Sciences (NASDAQ: GILD).
A host of analysts are calling the deal expensive and... More
AbbVie (ABBV) /Pharmacyclics (PCYC) Deal Bullish for SMID Biotech and Big Drugs, Says RBC
March 5, 2015 8:57 AM ESTRBC Capital analyst Michael J. Yee commented on AbbVie's (NYSE: ABBV) $21 billion deal to acquire Pharmacyclics (NASDAQ: PCYC), calling it "very surprising." In his view, the size of deal shows pharma's desire for big drugs, and its willingness to pay. Overall the news supports a bullish biotech sector view, he said.
"The buyer is... More
Deutsche Bank Sees Pharmacyclics (PCYC) Deal as Positive for Abbvie (ABBV)
March 5, 2015 7:26 AM ESTDeutsche Bank maintained a Buy rating on Abbvie (NYSE: ABBV) with a price target of $80. Shares of Abbvie declined pre-market after it announced a $21 billion deal to acquire Pharmacyclics (NASDAQ: PCYC).
Commenting on... More
AbbVie (ABBV) to Acquire Pharmacyclics (PCYC) for $21 Billion
March 4, 2015 10:53 PM ESTAbbVie (NYSE: ABBV) and Pharmacyclics (NASDAQ: PCYC) today announced a definitive agreement under which AbbVie will acquire Pharmacyclics, and its flagship asset Imbruvica® (ibrutinib), a highly effective treatment for hematologic malignancies. The acquisition accelerates AbbVie's clinical and commercial presence in oncology, strengthening its already robust pipeline, and establishing its strong leadership position in hematological oncology an attractive and rapidly growing market, now approaching $24 billion globally. The acquisition adds to AbbVie's already comprehensive pipeline and strong growth prospects.
Under the terms of the transaction, AbbVie will pay... More
AbbVie (ABBV) to Acquire Pharmacyclics (PCYC) for $21 Billion
March 4, 2015 10:53 PM ESTAbbVie (NYSE: ABBV) and Pharmacyclics (NASDAQ: PCYC) today announced a definitive agreement under which AbbVie will acquire Pharmacyclics, and its flagship asset Imbruvica® (ibrutinib), a highly effective treatment for hematologic malignancies. The acquisition accelerates AbbVie's clinical and commercial presence in oncology, strengthening its already robust pipeline, and establishing its strong leadership position in hematological oncology an attractive and rapidly growing market, now approaching $24 billion globally. The acquisition adds to AbbVie's already comprehensive pipeline and strong growth prospects.
Under the terms of the transaction, AbbVie will pay... More
