Baxalta Inc (BXLT) and Shire Deal Inches Closer to Reality With New Offer


Shares of Baxalta Inc (NYSE:BXLT) are up over $1.50 from their intraday lows after news broke at approximately 12:30 p.m. ET that Shire had made a brand new acquisition offer. The offer, which is said to value the company at what Baxalta’s (NYSE:BXLT) expectations had been, seems to indicate that a deal likely will be ocurring over the next week or two. According to Reuters Shire will be adding cash to their previous all-stock offer, bringing the total value of the acquisition to over $30 billion.

Shares of Baxalta Inc (NYSE:BXLT) had been trading down all day until this news broke. The stock is up significantly, however, from its late November lows of around $32.40. The stock is currently trading higher by 2.57% or $0.98 following the positive news, hitting $39.04 per share at the time of us publishing this article. About 3.70M shares traded hands or up 5.11% from the average. BXLT has risen 6.00% since November 22, 2015 and is currently uptrending. It has outperformed the S&P500 by 8.26%.

From a total of 4 analysts covering Baxalta Incorporated (NASDAQ:BXLT) stock, 3 rate it a “Buy”, 0 a “Sell”, and 1 a “Hold”. This means that 75% of the ratings are positive. The highest target price is $42 while the lowest target price is $38. The mean of all analyst targets is $40.67 which is 4.18% above today’s ($39.04) stock price. Baxalta Incorporated was the topic of 4 analyst reports since August 11, 2015 according to the firm StockzIntelligence Inc. William Blair initiated shares on August 18 with a “Outperform” rating.

Baxalta Incorporated is a biopharmaceutical company. The company has a market cap of $26.81 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 22.84 P/E ratio. The Firm also focuses on disease areas, including oncology, as well as technology platforms, including gene therapy and biosimilars.