Fly News Breaks for February 27, 2015
PCYC
Feb 27, 2015 | 07:59 EDT
After Bloomberg reported that Pharmacyclics is considering selling itself, Bloomberg thinks the company could conceivably be sold for the $17B-$18B suggested by press reports. However, the firm believes that whoever pays such a price would have "some heroic assumptions" about the outlook for Pharmacyclics' flagship drug, Inbruvica. Bernstein believes that if the company is not acquired, the stock will drop significantly from current levels, while it's unclear if the stock will rise much even if it is acquired. Bernstein keeps a Market Perform rating on the shares.
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