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July 25, 2017Analyst ratings
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Smart investors are keeping an eye on certain biotech stocks this month, as they have seen a significant increase of over 160%. With potential for even more growth in the future, adding these stocks to a portfolio could result in substantial capital gains.
Vera Therapeutics is working on a dual-action antibody for kidney disorders, and has seen positive results in the initial stage of a key study. Vertex Pharmaceuticals recently purchased Alpine Immune Sciences, a company also developing an antibody targeting the same receptors as Vera Therapeutics' candidate.
Vertex (VRTX) plans to purchase Alpine Immune Sciences (ALPN) for $65 per share in cash, with the deal expected to be finalized by the second quarter of 2024.
The Nasdaq is showing strong performance today, with the biotech ETF SPDR S&P Biotech ETF (XBI) increasing by more than 2% on the day.
Alpine Immune Sciences received a $4.9 billion acquisition offer from Vertex Pharmaceuticals following positive news about their new autoimmune drug, Povetacicept. The drug successfully passed Phase 2 review by the FDA for treating a rare kidney disease and is now set to enter Phase 3 trials.
Alpine Immune Sciences Inc (NASDAQ: ALPN) surged 35% on Thursday following an announcement by Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) that it plans to purchase the biotech firm for $65 per share. Is Alpine Immune's stock accurately priced at $65?
Analysts stated on Thursday that Vertex Pharmaceuticals Inc.'s purchase of Alpine Immune Sciences Inc. is a strategic move that will strengthen the company's rare-disease portfolio.
Shares of Alpine Immune Sciences Inc rose even further in pre-market trading, following a significant increase on Wednesday due to the announcement of a US$4.9 billion acquisition by Vertex Pharmaceuticals Incorporated. Before the market opened, shares increased by 36.3% to US$64.10, building on the 20.8% gain from the previous day.
Vertex Pharmaceuticals announced on Wednesday that they will be purchasing Alpine Immune Sciences in a deal worth approximately $4.9 billion.
Boston biotech company Vertex Pharmaceuticals has agreed to purchase Seattle-based Alpine Immune Sciences for $65 per share, resulting in a total of approximately $4 billion.
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