We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
DICE Therapeutics (DICE) Up 37% on Buyout Offer from Eli Lilly
Read MoreHide Full Article
Shares of DICE Therapeutics were up 37.2% on Jun 20 after the company announced that it has signed a definitive agreement with Eli Lilly (LLY - Free Report) . DICE would be acquired by Lilly for $48 per share in cash, amounting to $2.4 billion.
DICE Therapeutics, a clinical-stage biopharmaceutical company, utilizes its proprietary DELSCAPE technology platform to develop new oral therapies targeting chronic diseases in immunology. The company is evaluating two oral IL-17 inhibitors, DC-806 and DC-853, in separate clinical studies targeting psoriasis and other chronic diseases in immunology.
The transaction, expected to be completed by third-quarter 2023, is subject to customary closing conditions and clearance from the regulatory authorities. The board of directors of Eli Lilly and DICE Therapeutics have also given their approval to the transaction as well.
In the year so far, shares of DICE Therapeutics have surged 48.9% against the industry’s 6.1% fall.
Image Source: Zacks Investment Research
DICE currently lacks a steady stream of revenues due to a lack of approved drugs. The company is dependent on its pipeline candidates for growth. An acquisition by a big pharma giant like Lilly, which has high reserves of cash flow, would allow the company to ramp up the development of its pipeline. Once the pipeline candidates are approved for marketing, DICE Therapeutics will have access to Lilly’s larger and well-established commercial supply chain and network distribution.
A dominant player in diabetes and obesity, Lilly is trailing behind in marketing drugs for immunology indications, where its rivals are generating billions in sales. Though Lilly markets two immunology drugs — Taltz and Olumiant, which collectively raked in around $800 million in sales during first-quarter 2023 — they only contribute a small percentage to total revenues.
Once the acquisition is completed, Lilly will add DC-806 and DC-853 to its pipeline. Per Lilly, the deal is also a strategic fit for its existing business enabling it to focus on developing new therapies targeting immunology disease.
DICE Therapeutics currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the overall healthcare sector include ANI Pharmaceuticals (ANIP - Free Report) and Novartis (NVS - Free Report) . While ANI Pharmaceuticals sports a Zacks Rank #1 (Strong Buy), Novartis carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, the estimate for ANI Pharmaceuticals’ 2023 earnings per share (EPS) have increased from $2.42 to $3.31. During the same period, the earnings estimates for 2024 have risen from $3.76 to $4.32. Shares of ANI Pharmaceuticals are up 30.9% in the year-to-date period.
Earnings of ANI Pharmaceuticals beat estimates in each of the last four quarters, delivering an average earnings surprise of 68.64%.
In the past 60 days, the estimate for Novartis’ 2023 and 2024 EPS have increased from $6.57 to $6.72 and $7.08 to $7.26, respectively. Shares of Novartis are up 11.1% in the year-to-date period.
Earnings of Novartis beat estimates in each of the last four quarters, witnessing an average earnings surprise of 5.15%.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
DICE Therapeutics (DICE) Up 37% on Buyout Offer from Eli Lilly
Shares of DICE Therapeutics were up 37.2% on Jun 20 after the company announced that it has signed a definitive agreement with Eli Lilly (LLY - Free Report) . DICE would be acquired by Lilly for $48 per share in cash, amounting to $2.4 billion.
DICE Therapeutics, a clinical-stage biopharmaceutical company, utilizes its proprietary DELSCAPE technology platform to develop new oral therapies targeting chronic diseases in immunology. The company is evaluating two oral IL-17 inhibitors, DC-806 and DC-853, in separate clinical studies targeting psoriasis and other chronic diseases in immunology.
The transaction, expected to be completed by third-quarter 2023, is subject to customary closing conditions and clearance from the regulatory authorities. The board of directors of Eli Lilly and DICE Therapeutics have also given their approval to the transaction as well.
In the year so far, shares of DICE Therapeutics have surged 48.9% against the industry’s 6.1% fall.
Image Source: Zacks Investment Research
DICE currently lacks a steady stream of revenues due to a lack of approved drugs. The company is dependent on its pipeline candidates for growth. An acquisition by a big pharma giant like Lilly, which has high reserves of cash flow, would allow the company to ramp up the development of its pipeline. Once the pipeline candidates are approved for marketing, DICE Therapeutics will have access to Lilly’s larger and well-established commercial supply chain and network distribution.
A dominant player in diabetes and obesity, Lilly is trailing behind in marketing drugs for immunology indications, where its rivals are generating billions in sales. Though Lilly markets two immunology drugs — Taltz and Olumiant, which collectively raked in around $800 million in sales during first-quarter 2023 — they only contribute a small percentage to total revenues.
Once the acquisition is completed, Lilly will add DC-806 and DC-853 to its pipeline. Per Lilly, the deal is also a strategic fit for its existing business enabling it to focus on developing new therapies targeting immunology disease.
DICE Therapeutics, Inc. Price
DICE Therapeutics, Inc. price | DICE Therapeutics, Inc. Quote
Zacks Rank & Stocks to Consider
DICE Therapeutics currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the overall healthcare sector include ANI Pharmaceuticals (ANIP - Free Report) and Novartis (NVS - Free Report) . While ANI Pharmaceuticals sports a Zacks Rank #1 (Strong Buy), Novartis carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, the estimate for ANI Pharmaceuticals’ 2023 earnings per share (EPS) have increased from $2.42 to $3.31. During the same period, the earnings estimates for 2024 have risen from $3.76 to $4.32. Shares of ANI Pharmaceuticals are up 30.9% in the year-to-date period.
Earnings of ANI Pharmaceuticals beat estimates in each of the last four quarters, delivering an average earnings surprise of 68.64%.
In the past 60 days, the estimate for Novartis’ 2023 and 2024 EPS have increased from $6.57 to $6.72 and $7.08 to $7.26, respectively. Shares of Novartis are up 11.1% in the year-to-date period.
Earnings of Novartis beat estimates in each of the last four quarters, witnessing an average earnings surprise of 5.15%.