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Highlights
- The revenue of SmileDirectClub (NASDAQ:SDC) increased by 62.7% YoY in Q2, FY21.
- AbCellera Biologics (NASDAQ:ABCL) gets FDA approval for the bamlanivimab drug.
- FDA also grants accelerated approval for BeiGene’s (NASDAQ:BGNE) Brukinsa drug.
The stocks of SmileDirectClub, Inc. (NASDAQ:SDC), AbCellera Biologics Inc. (NASDAQ:ABCL), and BeiGene, Ltd. (NASDAQ:BGNE) were trading higher on Wall Street Friday.
SDC stock rose 8.17% to US$6.49, ABCL stock was up 15.51% to US$22.87, while BGNE stock was priced at US$435.00, up 12.92%, from their previous closes in the premarket on Sep 17.
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SmileDirectClub, Inc. (NASDAQ:SDC)
It is a Tennessee-based medical technology firm with interests in the teledentistry industry. The company provides services like teeth straightening, clear aligner therapy, and other services.
The company has been in the limelight due to its cheap product range, which is between US$1950 and US$2386.
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The firm has a market cap of US$2.60 billion, a forward P/E one year of -10.34, and an EPS of US$-0.59. The SDC stock fell 48.63 percent YTD.
The 52-week highest and lowest stock prices were US$16.08 and US$4.63, respectively. Its trading volume was 25,994,390 on September 16.
The company's total revenue jumped 62.7% YoY to US$174.18 million in Q2 FY21. Its net loss declined from US$94.66 million in the year-ago quarter to US$55.25 million in Q2 FY21.
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AbCellera Biologics Inc. (NASDAQ:ABCL)
AbCellera is a biotechnology company based in Vancouver, Canada. The company studies human antibodies for common diseases.
On Thursday, the US Food and Drug Administration (FDA) expanded the Emergency Use Authorization (EUA) for its bamlanivimab (700 mg) drug to prevent symptomatic Covid-19.
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AbCellera’s market cap is US$5.88 billion, and the forward P/E one year is 63.87. Its stock value declined by 49.36 percent YTD. The 52-week highest and lowest stock prices were US$71.91 and US$14.51, respectively. Its share volume on September 16 was 6,508,789.
The company's revenue rose from US$11.22 million in the year-ago quarter to US$27.64 million in Q2 FY21. Its net loss was US$2.32 million against net earnings of US$6.70 million in Q2 FY20.
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BeiGene, Ltd. (NASDAQ:BGNE)
BeiGene is a Beijing-based biotechnology company that develops cancer drugs.
On Thursday, it announced that FDA granted accelerated approval for its Brukinsa drug for treating refractory (R/R) lymphoma in adults. On Friday, the European Medicines Agency's Committee for Medicinal Products for Human Use also approved the drug.
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BeiGene has a market cap of US$39.04 billion, a forward P/E one year of -31.55, and an EPS of US$-14.55. The BGNE stock rose 47.6 percent YTD.
The 52-week highest and lowest stock prices were US$388.97 and US$219.20, respectively. Its trading volume was 393,052 on September 16.
The company's revenue rose from US$65.63 million in Q2 FY20 to US$149.99 million in Q2 FY21. It reported a net loss of US$480.34 million against a loss of US$336.31 million in Q2 FY20.
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Bottomline
The healthcare sector has been in the limelight following a robust growth over the last few quarters, boosted by Covid-19 vaccine sales and rapid drug development and approvals. The S&P 500 healthcare sector jumped 16.66 percent YTD while rising 5.15 percent QTD. However, investors must evaluate the companies carefully before investing.
