What Happened?
Shares of pharmaceutical company Organon (NYSE: OGN) jumped 12.5% in the morning session after the company reported fourth-quarter 2024 results that topped analysts' revenue and EPS expectations. While sales were flat year on year, strength in Established Brands helped offset declines in Biosimilars and Women's Health. However, the company's full-year revenue outlook came in lower than expected, reflecting headwinds from foreign exchange and the loss of exclusivity for Atozet (the second-largest product) in key markets. Overall, this quarter was decent, but not perfect.
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What The Market Is Telling Us
Organon’s shares are not very volatile and have only had 6 moves greater than 5% over the last year. Moves this big are rare for Organon and indicate this news significantly impacted the market’s perception of the business.
Organon is up 9.3% since the beginning of the year, but at $16.35 per share, it is still trading 29% below its 52-week high of $23.03 from August 2024. Investors who bought $1,000 worth of Organon’s shares at the IPO in May 2021 would now be looking at an investment worth $491.73.
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