Celgene to acquire Juno Therapeutics for $9 billion, or $87 a share

Celgene to acquire Juno Therapeutics for $9 billion, or $87 a share

Celgene to acquire Juno Therapeutics for $9 billion, or $87 a share

Zacks Investment Research downgraded shares of Juno Therapeutics from a hold rating to a sell rating in a report on Wednesday. 51 funds opened positions while 53 raised stakes. At present, 0 analysts recommended Holding these shares while 0 recommended sell, according to FactSet data. Rhumbline Advisers stated it has 0.01% of its portfolio in Juno Therapeutics, Inc. 5,704 are held by Moneta Group Inc Incorporated Limited Liability Company. (NASDAQ:JUNO) for 392,974 shares. (NASDAQ:JUNO). Rhumbline Advisers has invested 0.01% in Juno Therapeutics, Inc. DMQHF's SI was 6.36 million shares in January as released by FINRA. Opus Point Ptnrs reported 0.59% stake. Benjamin F Edwards accumulated 1,428 shares. (NASDAQ:JUNO). Great West Life Assurance Can holds 0% or 8,518 shares in its portfolio.

In the transaction dated December 18, 2017, the great number of shares disposed came courtesy the EVP & Chief Commercial Officer; Azelby Robert disposed a total of 1,816 shares at an average price of $44.96, amounting to approximately $81,647. The short interest to Juno Therapeutics Incorporated's float is 13.26%. The stock decreased 4.01% or $2.86 during the last trading session, reaching $68.51. Vanguard Group Inc. now owns 6,285,676 shares of the biopharmaceutical company's stock valued at $187,879,000 after purchasing an additional 131,864 shares during the last quarter.

Worldwide law firm Proskauer represented longtime client Celgene Corporation (NASDAQ: CELG) in its definitive agreement to acquire Juno Therapeutics, Inc. It has underperformed by 56.55% the S&P500.

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Juno Therapeutics, Inc., a biopharmaceutical company, engages in developing cell cancer immunotherapies. The company has a market cap of $7,742.07, a P/E ratio of -20.06 and a beta of 2.32. The Company develops cellular immunotherapies based on two platforms - Chimeric Antigen Receptors (CARs) and T Cell Receptors (TCRs) technologies. It now has negative earnings. The company has several product candidates that it. Therefore 42% are positive.

Analysts reckon the Juno acquisition, as well as the recent US$7bn takeover of Impact Biomedicines, could help to ease that problem. Goldman Sachs initiated the shares of JUNO in report on Wednesday, November 18 with "Neutral" rating. Cowen & Co maintained the stock with "Buy" rating in Thursday, October 26 report. Needham initiated Juno Therapeutics, Inc. (NASDAQ:JUNO) shares have performed 35.38%. Looking at stock performance for the past six months, shares are 133.51%. BidaskClub downgraded shares of Juno Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, June 10th. The stock of Juno Therapeutics, Inc. (NASDAQ:JUNO) on Wednesday, November 23 with "Buy" rating. The firm earned "Sell" rating on Thursday, June 8 by BTIG Research. The firm has "Sell" rating by BTIG Research given on Thursday, June 8. The firm has "Hold" rating given on Friday, November 25 by SunTrust. This means that, for a given level of sales, JUNO is able to generate more free cash flow for investors. (JUNO) for $87 per share in cash or an aggregate of about $9 billion, net of cash and marketable securities acquired and Juno shares already owned by Celgene. Visit MarketWatch.com for more information on this news.

Celgene has paid $93 a Juno share for holding 9.7 percent of the company in 2015.

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