Streetbeat News

AMAM

Ambrx Biopharma Inc.

Open

27.99

Mkt cap

1.8B

Volume

1.4M

High

28.00

P/E Ratio

66.67

52-wk high

28.15

Low

27.98

Div yield

N/A

52-wk low

6.55

Ambrx shareholders have approved the acquisition of the company by Johnson & Johnson, with shareholders receiving $28.00 per share in cash upon closing.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 6:21 pm

Ambrx Biopharma (NYSE:AMAM) has seen a significant decrease in short interest, with a 67.62% drop since the last report. The current short interest is 1.74 million shares, or 2.93% of float, with a short-covering time of 1.0 days. This decline in short interest may indicate a more bullish sentiment among investors compared to the peer group average of 12.14% short interest as a percentage of float.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 1:30 pm

The FDA has granted full approval to Johnson & Johnson's Balversa for certain adult bladder cancer patients, after its initial accelerated approval in April 2019. The Phase 3 THOR study demonstrated Balversa's efficacy in extending overall survival compared to chemotherapy. Additionally, Johnson & Johnson is set to acquire Ambrx Biopharma for approximately $2.0 billion, enhancing its targeted oncology portfolio.

Portfolio Pulse from Vandana Singh

January 22, 2024 | 5:00 pm

Johnson & Johnson (JNJ) is set to report Q4 earnings with a focus on dividend security post-Kenvue split, legal costs from talc litigation, and recent acquisitions. Analysts expect $2.28 EPS and $20.99 billion in revenue. JNJ's acquisition of Abiomed and Ambrx Biopharma (AMAM) strengthens its medical segments. Despite challenges, JNJ's dividend, with a 61-year growth history, seems secure. The stock closed at $161.68, with a Neutral consensus rating and a $175.75 price target.

Portfolio Pulse from Surbhi Jain

January 22, 2024 | 1:35 pm

Baird analyst Joel Beatty has downgraded Ambrx Biopharma (NASDAQ:AMAM) from Outperform to Neutral and set a price target of $28. This change reflects a revised outlook on the company's stock performance.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 7:39 pm

JMP Securities analyst Reni Benjamin has downgraded Ambrx Biopharma (NASDAQ:AMAM) from Market Outperform to Market Perform, indicating a change in the firm's outlook on the stock.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:23 am

Ambrx Biopharma (NASDAQ:AMAM) has been rated by 7 analysts in the last three months, with 5 somewhat bullish and 2 indifferent ratings. The average 12-month price target is $22.43, down 8.45% from the previous $24.50. Analysts from B. Riley Securities, JMP Securities, Goldman Sachs, RBC Capital, and Cantor Fitzgerald have updated their ratings and price targets. Ambrx Biopharma is a clinical-stage biologics company with a declining revenue growth of -96.68% as of September 30, 2023, and a net margin of -43375.47%. The company's ROE is -9.33% and ROA is -8.34%, with a debt-to-equity ratio of 0.04.

Portfolio Pulse from Benzinga Insights

January 09, 2024 | 7:01 pm

B. Riley Securities analyst Yuan Zhi has downgraded Ambrx Biopharma (AMAM) from Buy to Neutral but increased the price target from $26 to $28.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 3:08 pm

U.S. stocks saw gains, with the Dow Jones rising over 100 points. Commercial Metals Company (NYSE:CMC) reported Q1 earnings that surpassed estimates, with adjusted earnings of $1.63 per share and sales of $2.00 billion. Harpoon Therapeutics, Inc. (NASDAQ:HARP) surged 112% after an acquisition announcement by Merck. Ambrx Biopharma Inc. (NASDAQ:AMAM) also soared 101% following news of its acquisition by Johnson & Johnson. Conversely, LumiraDx Limited (NASDAQ:LMDX) plummeted 42% as it faces suspension from Nasdaq trading, Dada Nexus Limited (NASDAQ:DADA) dropped 37% due to questionable revenue practices, and Solo Brands, Inc. (NYSE:DTC) fell 36% after lowering its full-year revenue guidance.

Portfolio Pulse from Avi Kapoor

January 08, 2024 | 7:33 pm

RxSight, Inc. (RXST) shares surged by 20% after providing FY23 and FY24 revenue guidance above estimates and following a price target increase by Needham. Other stocks experienced significant movement, with Harpoon Therapeutics, Inc. (HARP) and Ambrx Biopharma Inc. (AMAM) seeing major gains due to acquisition announcements. Conversely, LumiraDx Limited (LMDX) and Solo Brands, Inc. (DTC) faced steep declines, with LumiraDx facing Nasdaq suspension and Solo Brands lowering its full year 2023 revenue guidance.

Portfolio Pulse from Avi Kapoor

January 08, 2024 | 6:36 pm

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