Streetbeat News

RYZB

RayzeBio Inc.

Industry

Research and Development in Biotechnology

Open

62.49

Mkt cap

3.8B

Volume

283K

High

62.50

P/E Ratio

-57.86

52-wk high

62.51

Low

62.48

Div yield

N/A

52-wk low

17.95

Bristol Myers Squibb (BMY) is set to acquire RayzeBio (RYZB) for $4.1 billion, enhancing its oncology portfolio with RayzeBio's radiopharmaceutical therapeutics (RPT) platform. The deal, expected to close in the first half of 2024, will be financed mainly through new debt and is anticipated to dilute BMY's non-GAAP diluted EPS by $0.13 in 2024. RYZB shares surged over 100% in premarket trading.

Portfolio Pulse from Vandana Singh

December 26, 2023 | 1:48 pm

RayzeBio will be acquired by Bristol Myers Squibb for $62.50 per share in cash, totaling $4.1 billion. RayzeBio shares are trading higher following the announcement.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 1:12 pm

In Tuesday's pre-market session, several healthcare stocks experienced significant movements. RayzeBio (RYZB) saw a dramatic increase of 98.2%, while Gracell Biotechnologies (GRCL) and 60 Degrees (SXTP) also posted substantial gains. Conversely, Milestone Pharmaceuticals (MIST) and other stocks such as SINTX Techs (SINT) and Panbela Therapeutics (PBLA) faced notable declines. These movements reflect changes in investor sentiment and market dynamics affecting these companies' valuations.

Portfolio Pulse from Benzinga Insights

December 26, 2023 | 1:07 pm

Bristol Myers Squibb (BMY) is set to acquire RayzeBio (RYZB) for $62.50 per share, totaling approximately $4.1 billion in equity value. The cash transaction, net of estimated cash acquired, is valued at $3.6 billion. Both companies' Boards of Directors have unanimously approved the merger, which adds a premier radiopharmaceutical platform to Bristol Myers Squibb's portfolio.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 12:01 pm

RayzeBio (NASDAQ:RYZB) reported a narrower loss of $(1.26) per share in Q3, an 80.76% improvement from the $(6.55) per share loss in the same quarter last year.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:09 pm

The FDA has selected RayzeBio to participate in its inaugural CDRP program, aimed at expediting commercial manufacturing readiness for RYZ101 in GEP-NETs.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 12:05 pm

Evercore ISI Group analyst Jonathan Miller has initiated coverage on RayzeBio (NASDAQ:RYZB) with an Outperform rating.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 10:51 am

JP Morgan has initiated coverage on RayzeBio Inc (NASDAQ:RYZB), a company in the radiopharmaceutical space, with an Outperform rating and a price target of $30. The analysts see potential value-creating milestones over the next 2+ years for RayzeBio. The radiopharmaceutical landscape includes notable therapies like Novartis AG's (NYSE:NVS) Lutathera and Pluvicto. The planned acquisition of POINT Biopharma by Eli Lilly And Co (NYSE:LLY) signals the potential attraction of more prominent entities to this advancing field.

Portfolio Pulse from Vandana Singh

October 10, 2023 | 7:06 pm

Truist Securities has initiated coverage on RayzeBio (NASDAQ:RYZB) with a Buy rating and a price target of $29.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 12:28 pm

JP Morgan analyst Jessica Fye has initiated coverage on RayzeBio (NASDAQ:RYZB) with an Overweight rating and a price target of $30.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 9:50 am

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