The Zacks Analyst Blog Highlights: Actavis, BP, Total, Petrobras and Devon Energy
CHICAGO, May 21, 2013 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Actavis, Inc.'s (NYSE: ACT), BP plc (NYSE: BP), Total SA (NYSE: TOT), Petrobras (NYSE: PBR) and Devon Energy Corporation (NYSE: DVN).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Monday's Analyst Blog:
FDA Accepts Actavis NDA
The US Food and Drug Administration (FDA) recently accepted Actavis, Inc.'s (NYSE: ACT) new drug application for its oral contraceptive candidate. The company is looking to get its progestin-only transdermal contraceptive patch (norethindrone transdermal delivery system) approved for the prevention of pregnancy.
With the FDA granting standard review to the NDA, a response should be out by Dec 27, 2013. The NDA was submitted on Feb 26, 2013 and includes data from a 12-month, multicenter, open-label study.
The once-weekly dosing regimen of the patch could help improve compliance and convenience in progestin-only contraceptive users.
Actavis is working on strengthening its women's health business. Earlier this year, the company acquired Belgium-based Uteron Pharma. With this acquisition, Actavis gained a portfolio of two late-stage, one mid-stage and several early-stage pipeline candidates.
Uteron's two-late stage candidates are Levosert, an intrauterine device (IUD) for long-term contraception and the treatment of heavy bleeding and Diafert, a non-invasive immunoassay kit for the determination of the quality of oocyte (egg) during in-vitro fertilization (IVF).
While Levosert is currently under review in several EU countries, Diafert could obtain EU approval later this year. As far as the US is concerned, Levoset is currently in phase III development. Diafert is slated to enter into phase III development this year in the US.
Estelle, Uteron's mid-stage pipeline candidate, is a contraceptive that could be launched in 2018.
Actavis currently carries a Zacks Rank #3 (Hold). With fewer major patent expiries slated to occur in the next few years, we are encouraged by Actavis' focus on building its branded and biosimilars pipeline.
BP Wins Brazilian Acreage
The U.K. supermajor BP plc (NYSE: BP) along with its partners Total SA (NYSE: TOT), Petroleo Brasileiro S.A., or Petrobras (NYSE: PBR) and Petrogal have emerged as winning bidders for the deepwater acreage in Brazil's National Petroleum Agency's (ANP) eleventh bidding round. This represents the first bidding round held since Dec 2008 and the first under Brazil's new petroleum law.
BP and partners will explore for oil and gas in eight deepwater blocks including FZA-M-57, FZA-M-59, FZA-M-86, FZA-M-88, FZA-M-125, and FAZ-M-127 in the Foz do Amazonas basin, BAR-M-346 in the Barreirinhas basin, and POT-M-764 in the Potiguar basin. Under the Brazilian concession regime, the companies will have the legal right to develop any commercial discovery.
BP will operate block FZA-M-59 with a 70% stake and block BAR-M-346 with a 50% stake. The next step of BP and its partners involves working with ANP to finalize the awards. The signing of the contracts is scheduled for Aug 2013.
The contract award follows BP's re-entry into Brazil's upstream market in 2011 with its purchase of interests from Devon Energy Corporation (NYSE: DVN) and acquisition of interests in four Petrobras-operated deepwater blocks in Brazil's equatorial belt in 2012.
Winning these blocks will help BP in achieving its strategy of optimizing its global portfolio and repositioning itself for long-term growth. The energy giant has created a large portfolio of upstream interests in Brazil over the last two years. Currently, the company is aggressively pursuing exploration in this new acreage that presents significant upside potential over the long term.
BP's presence in Brazil dates back to 1957. The oil giant has significant business interests in the region even after the sale. It operates in Brazil through four businesses – exploration and production (BP Energy do Brasil), biofuels (BP Biocombustíveis), aviation fuel (Air BP) and lubricants (Castrol).
BP carries a Zacks Rank #3 (Hold), which is equivalent to a short-term Hold rating.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
SOURCE Zacks Investment Research, Inc.