Juno Therapeutics surges on Celgene deal

Juno Therapeutics surges on Celgene deal

The company was formerly known as FC Therapeutics, Inc. and changed its name to Juno Therapeutics, Inc.in October 2013. Traders bought 18,161 call options on the stock. Juno Therapeutics shares last traded at $67.81, with a volume of 5223347 shares.

Celgene, which now owns a 9.7 percent stake in Juno, will pay $87 a share for the rest of the company. JPMorgan Chase & Co. reiterated a "hold" rating on shares of Juno Therapeutics in a research note on Thursday, January 11th. Wedbush cut shares of Juno Therapeutics from an "outperform" rating to a "neutral" rating in a report on Wednesday. Maxim Group restated a "buy" rating and issued a $56.00 price objective on shares of Juno Therapeutics in a report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of "Hold" and a consensus target price of $47.26. Analysts on a consensus basis have a 2.10 recommendation on this stock.

Moving average convergence divergence (MACD) shows that the stock is on a PRICE RELATIVITY trend. This transaction follows a number of significant M&A deals on which the Firm has advised, including advising Grifols in its $1.8 billion acquisition of the blood screening business of Hologic; Ares in its $3.4 billion acquisition of American Capital, Ltd.; and Accor Hotels in its $3 billion acquisition of FRHI Hotels & Resorts.

Monday's two big acquisitions build on an already busy start for 2018 biotech M&A, with Celgene earlier agreeing to acquire privately-held Impact Biomedicines for as much as $7 billion, including $1.1 billion upfront, and Novo Nordisk bidding $3.1 billion for Belgium's Ablynx.

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On 12/18/2017 Robert Azelby, EVP, sold 1,816 with an average share price of $44.96 per share and the total transaction amounting to $81,647.36. Following the sale, the executive vice president now directly owns 79,998 shares in the company, valued at approximately $4,395,890.10. The disclosure for this sale can be found here.

Separate reports this month by consultancy EY and law firm Baker McKenzie both predicted a significant rise in life sciences M&A in 2018, helped by USA tax changes that may lift big companies' appetite for deals. Wells Fargo & Company MN increased its stake in Juno Therapeutics by 238.4% in the first quarter. Advisor Group Inc. grew its holdings in shares of Juno Therapeutics by 141.1% during the 3rd quarter. Creative Planning now owns 48,016 shares of the biopharmaceutical company's stock valued at $1,065,000 after buying an additional 34,250 shares during the period.

In recent action, Juno Therapeutics, Inc. The firm has a market cap of $8,148.52, a price-to-earnings ratio of -20.06 and a beta of 2.32.

Worldwide law firm Proskauer represented longtime client Celgene Corporation (NASDAQ: CELG) in its definitive agreement to acquire Juno Therapeutics, Inc. The company's net profit margin has achieved the current level of 0 percent and possesses 0 percent gross margin.

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