After a stellar day yesterday, shares of Baxalta Inc (NYSE:BXLT) continue to rise in early trading today, after rumors of a possible Shire takeover of the company make their way around trading desks.
Rumors on the street point to a possible takeover bid by the U.K. drugmaker, that if successful would lead to the combined entity being one of the largest specialists in rare diseases. It is also important to note that Baxalta Inc (NYSE:BXLT) rejected a $30 billion bid on their company back in July of this year.
The stock is up 0.73% or $0.26 after the positive news, hitting $35.93 per share. About 1.66M shares traded hands. BXLT* has risen 6.00% since October 26, 2015 and is uptrending. It has outperformed by 7.13% the S&P500.
Baxalta Incorporated is a biopharmaceutical company. The company has a market cap of $23.80 billion. The Firm develops, makes and markets a portfolio of treatments for hemophilia and other bleeding disorders, immune deficiencies, alpha-1 antitrypsin deficiency, burns and shock, and other chronic and acute medical conditions. It has 21.02 P/E ratio. The Firm also focuses on disease areas, including oncology, as well as technology platforms, including gene therapy and biosimilars.