Juno Therapeutics, Inc. (NASDAQ:JUNO) surged 42.76% in extended trading on Tuesday, after the news that Celgene Corporation (NASDAQ:CELG) is in talks to buy biotechnology company Juno Therapeutics, Inc. (NASDAQ:JUNO) just days after announcing another major deal to bolster its portfolio of blood-cancer drugs, as it is also working on an experimental gene therapy drug to treat cancer.
Juno Therapeutics, Inc. (NASDAQ:JUNO)’s stock on Tuesday traded at beginning with a price of $48.76 and when day-trade ended the stock finally slumped -6.46% to reach at $45.60. Analyst’s mean target price for JUNO is $55.54 while analysts mean recommendation is 2.10. Stock value has moved between $18.92 – 63.33 in last one year.
Juno Therapeutics, Inc. (JUNO) does not yet have any FDA approvals for its CAR T drugs, but Drug Company released promising data from early trials for a blood cancer treatment in November.
Gilead Sciences Inc (GILD) bought Juno rival Kite Pharma Inc for nearly $12 billion late last year.
The WSJ report comes days after Celgene said it had agreed to acquire Impact Biomedicines for as much as $7 billion, subject to certain milestones associated with regulatory hurdles and sales performance.
Juno Therapeutics, Inc. (NASDAQ:JUNO) yearly performance is 128.00%. The current share price indicates that stock is -28.13% away from its one year high and is moving 141.27% ahead of its 52-week low.
Senior executives from some of the largest pharmaceutical manufacturers told Reuters last week that they expect the Trump administration’s tax overhaul to accelerate major acquisitions by drugmakers in 2018 after a slow year for deals in 2017.
Celgene Corporation (NASDAQ:CELG) shares are off -1.02% in after-session trade on Tuesday.
On 16 January 2018, Celgene Corporation (NASDAQ:CELG) stock price started the day at $106.72 and moved between $104.68 – $107.29 to finally close at $104.82. CELG’s distance from 20 day simple moving average is -1.51% and distance from 50-Day simple moving average is 0.45%. In last 4 months performance of CELG was -23.19% while its price to sale ratio is 6.71 and price to book ratio is 8.35.