Stocks To Watch: Globalstar, Inc. (NYSE:GSAT), Biogen Inc. (NASDAQ:BIIB)

Globalstar, Inc. (NYSE:GSAT) filed for regulatory approval to deliver TD-LTE service in three countries, said its CEO Jay Monroe in an interview with Bloomberg News. Specific countries weren’t mentioned. Analysts at Odean Capital sees the news as “very positive.” International spectrum is a larger band and will cover more POPs. Odean also thinks the company’s spectrum is very valuable to global players such as T-Mobile.

At the movement Globalstar, Inc. (NYSE:GSAT) is under coverage by number of analysts. Buy rating has been given by 0 analysts to the company stock whereas no analyst given UNDERPERFORM rating to stock and 1 analyst given HOLD rating. The consensus recommendation by Thomson Reuters analysts is Hold and their mean rating for the stock is 3.00 on scale of 1-5. Analysts mean target price for Globalstar, Inc. (NYSE:GSAT) is $6.00 while their mean recommendation is 3.00 (1=Buy, 5=sell).

If we look at stock performance in last active day trading, we see that stock has moved up 5.37% to end the day at $1.57. The current share price indicate that stock is -47.67% away from its one year high and is moving 149.21% ahead of its 52-week low.

Biogen Inc. (NASDAQ:BIIB) said that,  it received a subpoena from the federal government in December for documents relating to government price reporting, rebate payments and Biogen’s copay assistance programs for Avonex, Tecfidera, Tysabri and Plegridy. It also got a civil investigative demand from the federal government for documents and information relating to relationships with groups that provide clinical education and reimbursement support services. It said it is cooperating in both cases.These kinds of programs have come under increasing scrutiny as allegations have surfaced that some drugmakers are using them to juice sales. While government regulations prohibit drugmakers from tying charitable donations to specific support for their own drugs, a whistleblower lawsuit against Celgene has contended that it “gamed the system” so that charities would prefer its drugs when helping cancer patients needing help paying for treatment. Celgene, which also received a subpoena, has denied seeking any special treatment from charities for its contributions of $50 million to $100 million a year. “Celgene donates money to fund these charitable organizations because, without this service, many cancer patients would be denied access to essential medical care simply because they cannot afford the treatment,” the company’s lawyers have said in court documents. Drugmakers often fund their own direct assistance programs to help patients cover their share of the cost of expensive brand-name drugs. Biogen not only helps with copayments on its blockbuster Tecfidera, but even provides the drug for free for patients who are having trouble winning insurance reimbursement. Tecfidera, launched in 2013, now holds half the market share for multiple sclerosis treatments.

On 03 February 2017, Biogen Inc. (NASDAQ:BIIB) shares moved to $264.67 after starting the day at $264.98. Number of analysts are covering this stock and currently stock has got OUTPERFORM rating from 8 analysts of Thomson Reuters, 9 analysts given HOLD rating to the stock and 0 given UNDERPERFORM rating. Analyst’s mean target price for BIIB is $333.25 while analysts mean recommendation is 2.10.

1 comment

  1. LYNNE HEAL

    NO MS drugs have cured MS and never ever will. Many with MS have been exploited so that billions upon billions is made . Many with MS have sadly died drugged up on MS meds unaware of MS truths.

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