Health and Healthcare

Top 6 Biotech Movers From the Past Week

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Over the past week, a few biotech companies made absolutely massive runs and some had serious falls. In the past year, the health care sector was on fire from positive trials, U.S. Food and Drug Administration (FDA) approvals, and mergers and acquisitions. These companies that 24/7 Wall St. has picked stood out from the rest with at least a 25% swing over the course of the week. We have included information about each company, as well as recent trading activity and the consensus price target.

Aerie Pharmaceuticals Inc. (NASDAQ: AERI) saw its shares skyrocket Thursday following the release of positive results from a recent study. The company reported the successful results of its second Phase 3 trial for Rhopressa, a novel once-daily, triple-action eye drop being tested for its ability to lower intraocular pressure (IOP) in patients with glaucoma or ocular hypertension. The trial achieved its primary efficacy endpoint demonstrating non-inferiority of Rhopressa compared to timolol, the most widely used comparator.

Over the course of the week, shares rose 71%, and year to date shares are up only 3%. Shares of Aerie were at $27.24 on Friday. The stock has a consensus analyst price target of $44.29 and a 52-week trading range of $8.84 to $35.89.

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Can-Fite BioPharma Ltd. (NYSEMKT: CANF) is building momentum with its most recent designation from the U.S. Food and Drug Administration (FDA). The company announced the FDA has granted the drug candidate CF102 Fast Track designation as a second line treatment for hepatocellular carcinoma (HCC), the most common form of liver cancer. CF102 had already received the FDA’s Orphan Drug designation. Phase 2 studies are already underway for this indication in the United States, Europe and Israel. According to Global Industry Analysts, the global market for liver cancer drugs is projected to exceed $2 billion in 2015.

Over the course of the week, shares rose 83% to Thursday’s close, and year to date shares are down 6%. Can-Fite shares were at $6.09 on Friday within the 52-week trading range of $1.46 to $7.74. The stock has a consensus analyst price target of $3.65.
Intra-Cellular Therapies Inc. (NASDAQ: ITCI) continues to dominate the biotech industry as its shares are up nearly 50% year to date and over 80% in the past 52 weeks. However, shares made another incredible move on Wednesday morning on positive results. The company announced positive results from the first Phase 3 clinical trial of ITI-007 for the treatment of patients with schizophrenia. Intra-Cellular is developing novel drugs for the treatment of neuropsychiatric and neurodegenerative diseases and diseases of the elderly, including Parkinson’s and Alzheimer’s.

Over the course of the week, shares rose 123%, and year to date shares are up 232%. Shares of Intra-Cellular were at $54.31 on Friday. The stock has a consensus analyst price target of $49.43 and a 52-week trading range of $12.67 to $60.79.

Raptor Pharmaceuticals Corp. (NASDAQ: RPTP) saw its shares approach its 52-week low in Monday’s premarket. This huge downturn was due to missed results in a Phase 2 study. The company also announced that it may discontinue this study altogether. The company announced top-line results from the Phase 2b CyNCh study, which did not meet its primary endpoint of improving nonalcoholic steatohepatitis (NASH) in children. The trial evaluated the safety and efficacy of RP103, or cysteamine bitartrate delayed-release capsules, in children with biopsy-confirmed NASH.

Over the course of the week, shares fell 42%, and year to date shares are down about 34%. Raptor shares were at $6.99 on Friday within the 52-week trading range of $6.60 to $16.28. The stock has a consensus analyst price target of $12.00.

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Tracon Pharmaceuticals Inc. (NASDAQ: TCON) made waves in the market on Friday morning. The huge move was not so much due to one trial but really one patient who made all the difference. The single-patient compassionate-use Phase 2 clinical trial enrolled a 37-year old woman with persistent and unresectable metastatic choriocarcinoma. This is an aggressive form of gestational trophoblastic neoplasia (GTN). Prior to entry into the trial, this patient received multiple treatments, including laparoscopic hysterectomy, five prior chemotherapy regimens and a stem cell transplant.

Over the course of the week, shares rose over 30%, and year to date shares are up nearly 70%. Shares of Tracon were at $15.95 on Friday. The stock has a consensus analyst price target of $20.75 and a 52-week trading range of $9.02 to $21.00.

Xenoport Inc. (NASDAQ: XNPT) made waves in Tuesday morning’s premarket trading session on news of positive clinical trial results. The company announced positive preliminary top-line results from its Phase 2 clinical trial of XP23829 as a potential treatment for moderate-to-severe chronic plaque-type psoriasis. Basically, XP23829 met its primary endpoint in both 800 mg once daily and 400 mg twice daily doses, demonstrating statistically significant improvements in percentage change from baseline to week 12 in Psoriasis Area and Severity Index (PASI) score.

Over the course of the week, shares fell 36%, and year to date shares are down 50%. Xenoport shares were at $4.23 on Friday within the 52-week trading range of $4.22 to $9.60. The stock has a consensus analyst price target of $9.00.

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