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ICYMI: Valuentum’s Improved Stock and ETF Web Pages

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Valuentum has rolled out improved stock and ETF web pages on its website valuentum.com/. Now, subscribers can access key proprietary information on the stock and ETF web pages in addition to the customary stock and ETF reports. Dear reader, We have some exciting news that we can’t wait to share with you! At valuentum.com/, we have rolled out new stock and ETF pages that conveniently include a variety of our proprietary metrics from the Dividend Cushion ratio to the Economic Castle rating and beyond! There’s even mouseover functionality so you can learn about how we define the key metrics across our stock-selection and dividend growth methodologies. You’ll still have access to the stock and dividend reports on the landing pages, … Read more

The “Luck” and “Randomness” of Index Funds

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Please select the image below to download the document. Image shown, page 1 of 14. Tickerized for Valuentum’s coverage universe.

Bioverativ’s Takeout, Visa’s Surge, and General Electric’s Pain

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From Bioverativ’s takeout to Visa’s stock price surge to General Electric’s continued pain, there’s a lot going on in the stock market. Let’s cover some ground. By Kris Rosemann and Brian Nelson, CFA It’s hard to believe this but our best idea in the Best Ideas Newsletter portfolio, Visa (V), is now a $124+ per share stock. We know how to pick ‘em, would you say? We don’t get everything correct, of course, but if you’ve read anything on our website, we can only hope that you’ve witnessed Visa’s meteoric rise. The high end of our updated fair value estimate range for Visa is north of $130 per share. What a wild ride it has been, to say the least, … Read more

Video: Quants! You’re NOT Measuring VALUE and Nelson’s Theory of Universal Value

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President of Investment Research Brian Nelson defines the concept of universal value and shows how quantitative statistical methods are inextricably linked to those of fundamental, financial, business-model related analysis. Value does not exist in respective process vacuums! Value is universal. Find out why. Running time: ~10 minutes.  Tickerized for Valuentum’s stock and ETF coverage universe. Transcript Hi this is Brian Nelson from Valuentum Securities, and this is the tenth edition of a series that I call “Off the Cuff,” where I get in front of the camera and I talk for ten minutes. This is what we have to talk about today. We have to talk about this concept: The Theory of Universal Value. Value does not exist in vacuums … Read more

Key Oncology Assets Powering Johnson & Johnson Higher

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Image Source: JNJ third quarter earnings presentation Shares of newsletter portfolio holding Johnson & Johnson continue their stellar run, posting new all-time highs on the heels of an impressive third quarter earnings report. Let’s take an in-depth review of key pharma product franchises as they relate to the performance of the stock. By Alexander J. Poulos and Kris Rosemann Immunology Johnson & Johnson’s (JNJ) largest pharmaceutical division remains Immunology–an area where the company continues to be a pioneer–but the division has begun to feel the strain of the coming biosimilar onslaught as its legacy molecule Remicade continues to cede ground to biosimilar competition. The drug posted a 7.6% year-over-year revenue decline in the third quarter of 2017 to ~$1.65 billion … Read more

The Legal Battle Between Regeneron and Amgen Heats Up

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Image Source: Regeneron The legal battle between two of the titans of the biotech world heated up further with a recent ruling overturning the injunction of a critical asset. We are updating our thesis in light of current events. By Alexander J. Poulos Legal Battle Amgen (AMGN) is locked in a protracted battle with Regeneron Pharmaceuticals (REGN) and its partner Sanofi (SNY) over a potential patent infringement. The asset in question is Praluent which belongs to the PCSK9 inhibitor, which is approved for the patient class afflicted with heterozygous familial hypercholesterolemia or clinical atherosclerotic cardiovascular disease, which require additional lowering of LDL-C. The nexus of Amgen’s complaint is Praluent infringes on some of the intellectual property (IP) that backs its … Read more

Generic Drug Price Deflation Continues to Weigh on Shares of Teva

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Shares of former Best Ideas Newsletter portfolio idea Teva Pharmaceuticals have come under renewed selling pressure after reporting weak quarterly results due largely to deflationary price pressures felt in the generic drug division. Teva has been relatively powerless in stopping the trend. We had removed the shares from the Best Ideas Newsletter portfolio well before the last leg down, and the Dividend Cushion ratio warned of tremendous risk to the sustainability of the dividend far in advance. By Alexander J. Poulos and Kris Rosemann Generic Drug Deflation Teva Pharmaceuticals (TEVA) maintains its position as one of the world’s largest manufacturer of generic medications, but the marketplace for a generic drug differs from the market dynamics of the branded space. We view … Read more

Coherus Biosciences Begins the Process of Bringing a Humira Biosimilar to Market

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Image Source: Drugs.com The duration and validity of patents that back the intellectual property of drugs in the pharma/biotech industry underpin the group’s revenue stream. Once patent protection is lost, however, revenue from products typically nosedives as multi-source products come to market, undercutting their original price. The patent estate, in essence, bestows monopoly-like pricing power to Big Pharma. Once lost though, it becomes tough to replace. Let’s provide a quick update on the breaking Coherus Biosciences patent win. Alexander J. Poulos Humira Remains the Primary Revenue Driver for Abbvie Shares of Abbvie (ABBV) have come under selling pressure May 17 on the news of a key patent lose to biosimilar upstart Coherus Biosciences (CHRS). AbbVie remains locked in a protracted … Read more

Valuentum’s 3 Breakthroughs in the Field of Finance and More

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Valuentum’s President Brian Nelson pauses for a picture before speaking at the CFA Society of Houston in March 2017. By Valuentum Editorial Staff Let’s cover Valuentum’s 3 major breakthroughs in the field of finance. The first one is big and may challenge you to rethink everything you think you know about investing. 1. On a logical framework, Valuentum has debunked John C. Bogle’s landmark syllogism that has paved the way for the concept of index investing. Index investing has been built on a logical shortcoming, whether supported by evidence or not. We think it is important that the investment community know of this. Read (pdf): The “Luck” and “Randomness” of Index Funds (2018), Brian Nelson, CFA See video documentation: /FALLACY_of_Index_Funds To … Read more

Three Notable Pending FDA Approvals

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Image Source: Brandon Giesbrecht The final step of the drug approval process is the filing of a new drug application (NDA), when the FDA assesses trial results before deciding if the treatment warrants marketing approval. A delay or rejection can have a meaningful impact on the equity price, so let’s dig into a few notable upcoming decisions. By Alexander J. Poulos and Kris Rosemann Baricitinib Baricitinib is a Janus Kinase 1&2 inhibitor that is being studied for the treatment of a wide range of inflammatory diseases, and clinical trials for the indication of rheumatoid arthritis conclusively demonstrated superiority to placebo–and Humira. The superiority to Humira, in our view, is a key differentiator in the crowded inflammatory disease market, a direct result … Read more