Baudax Bio Inc
Change company Symbol lookup
Select an option...
BXRX Baudax Bio Inc
ZM Zoom Video Communications Inc
CIOXY Cielo SA
T AT&T Inc
PBCT People's United Financial Inc
PHK PIMCO High Income Fund
BAC Bank of America Corp
BHF Brighthouse Financial Inc
CTBI Community Trust Bancorp Inc
$NYLGCAPT NYSE U.S. Large Cap Equal Weight Ind
Go

Company profile

Baudax Bio, Inc. is a specialty pharmaceutical company focused on developing and commercializing products for acute care settings. The Company’s lead product candidate is IV injectable form of Meloxicam, a long-acting preferential cyclooxygenase (COX)-2 inhibitor. The Company’s product pipeline also includes other early-stage product candidates, including two neuromuscular blocker agents (NMBAs) and a related chemical reversal agent, and Dexmedetomidine (Dex)- intranasal (IN), an intranasal formulation of dexmedetomidine. The Company is developing an intermediate-acting NMBA, RP100; an ultrashort-acting NMBA, RP2000, and a reversal agent specific to its NMBAs.

Price
Delayed
$3.82
Day's Change
0.13 (3.52%)
Bid
--
Ask
--
B/A Size
--
Day's High
3.85
Day's Low
3.69
Volume
(Light)

Today's volume of 194,249 shares is on pace to be much lighter than BXRX's 10-day average volume of 982,021 shares.

194,249

UPDATE: Stock buybacks expected to be 'dismal' in Q2, S&P says

7:30 am ET March 25, 2020 (MarketWatch)
Print

By Tomi Kilgore, MarketWatch

Share repurchases for 2020 projected to see 'complete reversal' of 2018 boom as buyback recovery should be slow even after stock market bottoms

Stock buybacks by S&P 500 index companies are expected to go from being "significantly" lower in the first quarter to being "dismal" in the second quarter, as companies look to preserve cash given uncertainties over the impact of the COVID-19 pandemic, according to S&P Dow Jones Indices.

For all of 2020, S&P said share repurchases may see a "complete reversal" of the 2018 "buyback bonanza," when companies repurchased a record $806.4 billion worth of stock. That's a complete about face from earlier this year, as pre-coronavirus outbreak estimates were for repurchases to come close to or exceed 2018 levels.

"COVID-19 has significantly changed the 2020 landscape, as dividends are under pressure and buybacks appear to be gasping for air," said Howard Silverblatt, senior index analyst at S&P Dow Jones Indices. He said buybacks now have to compete with companies' other priorities, as uncertainty over liquidity is at its highest since the 2008 financial crisis. Read the coronavirus update (http://www.marketwatch.com/story/coronavirus-update-392870-cases-globally-17159-deaths-italy-shows-glimmer-of-hope-and-nyc-remains-us-epicenter-2020-03-24).

And any government economic stimulus package (http://www.marketwatch.com/story/mcconnell-pelosi-say-deal-on-coronavirus-stimulus-is-close-2020-03-24) and corporate bailout program will likely include restrictions on share repurchases.

Chevron Corp.(CVX) and Intel Corp.(INTC) , both components of the Dow Jones Industrial Average , were among companies that announced suspensions of buyback programs on Tuesday. Read more about Chevron (http://www.marketwatch.com/story/chevron-to-cut-2020-capex-by-4-billion-suspend-share-buybacks-2020-03-24) and Intel (http://www.marketwatch.com/story/intel-to-suspend-buybacks-due-to-covid-19-outbreak-2020-03-24).

Also read: Trump supports government taking equity in companies that get coronavirus aid (http://www.marketwatch.com/story/trump-backs-government-taking-stake-in-companies-as-he-opposes-coronavirus-aid-being-used-for-stock-buybacks-2020-03-19).

Before the coronavirus crisis hit, companies had already been pulling back from the tax cut-inspired buying of 2018, as companies may have also been reluctant to pay such high prices as the stock market soared. Shares repurchases in the fourth-quarter of 2019 reached $181.6 billion, but that was down 18.6% from the Q4 2018 record of $223.0 billion.

The S&P 500 index reached 22 record closes during Q4 2019, as it rose 8.5% during the quarter to end the year 29.9% higher than where it closed 2018. During Q4 2018, the S&P 500 didn't register a single record close, and hit a 20-month low in December as it fell 14% for the quarter.

For all of 2019, companies bought back $728.7 billion worth of shares, down 9.6% from 2018, but the total was the second-most in history. And the buying was still very effective, as 20.8% of the companies were able to reduce share counts by at least 4% and therefore boost earnings per share.

But that doesn't mean companies will rush to buy back stock after they start seeing a recovery from the COVID-19 impact on the economy and the stock market.

"Once the market believes we have hit bottom, buybacks may be slow to come back," Silverblatt said, "as companies set their catch-up priorities and may stringently control expenditures amidst:

--Potential restrictions on buybacks through government programs.

--Public image of buybacks when the economy is still recovering."

Don't miss: Opinion: Airlines and Boeing want a bailout -- but look how much they've spent on stock buybacks (http://www.marketwatch.com/story/airlines-and-boeing-want-a-bailout-but-look-how-much-theyve-spent-on-stock-buybacks-2020-03-18).

Here are the 5 companies that spent the most on buybacks in Q4 2019:

-- Apple Inc.(AAPL) spent $22.1 billion in the fourth quarter, the third-highest amount in history. The amount was 25.2% more than the $17.6 billion Apple spent during the third quarter, and more than double the $10.1 billion it spent in Q4 2018. For 2019, Apple bought $81.7 billion worth of its shares, up from $74.2 billion in 2018.

-- Bank of America Corp.(BAC) bought back $7.7 billion worth of its shares, up slightly from $7.6 billion in the third quarter. For the year, BofA repurchased $28.1 billion worth of its share, up from $20.1 billion in 2018.

-- Oracle Corp.(ORCL) repurchased $5.0 billion worth of its shares, down from $5.5 billion in the third quarter. For 2019, Oracle spent $26.9 billion on buyback, down from $29.3 billion in 2018.

-- Wells Fargo & Co.(WFC) spent $7.4 billion on buybacks, just below the $7.5 billion its spent in the third quarter. For the year, Wells Fargo spent $24.8 billion, up from the 2018 total of $21.0 billion.

-- J.P. Morgan Chase & Co.(JPM) bought back $6.8 billion worth of its stock, down from $6.9 billion in the third quarter. For 2019, J.P. Morgan paid $24.0 billion to repurchase shares, up from $20.0 billion in 2018.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

March 25, 2020 07:30 ET (11:30 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2020 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., , and

Copyright © 2020. All rights reserved.