Intrexon Corp (NYSE:XON) has announced today that they will be collaborating with Janssen Pharmaceutica NV, a branch of Johnson and Johnson Innovation to research and develop new therapies for treating Type 2 diabetes, obesity, and other disorders.
Samuel Broder, M.D., SVP and Head of Intrexon’s Health Sector stated, “I am very pleased we are partnering with Janssen to address Type 2 diabetes and related conditions. Through the use of Intrexon’s proprietary ActoBiotics® platform, we believe this collaboration will make a significant contribution to this substantial global health issue. The breadth of opportunity to treat an array of diseases with our versatile ActoBiotics® technology continues to expand.”
With Type 2 diabetes affecting over 387 million individuals around the world, and costing them in excess of $376 billion a year, any such therapy could be a tremendous boost to Intrexon’s (NYSE:XON) top and bottom lines. This research will also look into preventing diabetes before it even takes hold. The stock decreased 0.41% or $0.13 during the last trading session, hitting $31.68. Approximately 1,646 shares traded hands. XON shares have declined 22.73% since May 19, 2015 and are currently downtrending. It has underperformed the S&P500 by 20.47%.
From a total of 5 analysts covering Intrexon (NYSE:XON) stock, 3 rate it a “Buy”, 0 a “Sell”, and 2 a “Hold”. This means that 60% of the ratings are positive. The highest target price is $70 while the lowest target price is $35. The mean of all analyst targets is $50.20 which is 58.46% above today’s ($31.68) stock price. Intrexon was the topic of 8 analyst reports since July 27, 2015 according to the firm StockzIntelligence Inc. Mizuho upgraded shares on November 11 to a “Neutral” rating. Bank of America initiated XON stock in a recent report from October 14 with a “Neutral” rating. Finally, JP Morgan downgraded the stock to a “Overweight” rating in a report they issued on an August 11.
The institutional sentiment decreased to 0.89 in Q2 2015. It’s down 0.52, from 1.41 in 2015Q2. The ratio is negative, as 34 funds sold all their Intrexon Corp shares they owned while 61 reduced their positions. 31 funds bought stakes while 54 increased their total positions. Institutions now own 101.02 million shares which is 6.88% more than the previous share count of 94.52 million in 2015Q2.
Third Security Llc holds 78.09% of its total portfolio in Intrexon Corp, equating to 61.72 million shares. University Of Texas Investment Managment Co owns 2.10 million shares representing 32.84% of their total US portfolio. Moreover, Michael & Susan Dell Foundation has 10.04% of their total portfolio invested in the company, equating to 432,878 shares. The Texas-based Belmont Global Advisors Inc. has a total of 9.3% of their portfolio invested in the stock. Oracle Investment Management Inc, a Connecticut-based fund reported 804,877 shares owned.
Intrexon Corporation is engaged in the field of synthetic biology. The company has a market cap of $3.64 billion. The Firm designs, manufactures and regulates gene programs, which are Deoxyribonucleic Acid sequences that consist of genetic components. It currently has negative earnings. The Company’s synthetic biology capabilities include the ability to control the amount, location and modification of biological molecules to control the function and output of living cells.