Over the past week, a few biotech companies made impressive runs. These moves were the result of positive trial results and a U.S. Food and Drug Administration (FDA) meeting. The companies 24/7 Wall St. has picked stood out from the rest with positive news guiding them last week. We have included information about each company, as well as recent trading activity and the consensus price target.
Ziopharm Oncology
A couple huge announcements from Ziopharm Oncology Inc. (NASDAQ: ZIOP) last week sent the stock soaring. The company said that the first patient has been dosed at the succeeding dose level in the its ongoing multicenter Phase 1 study of Ad-RTS-hIL-12 + orally administered veledimex in recurrent or progressive glioblastoma or grade III malignant glioma. Earlier in the week, Ziopharm also announced the publication of a study in Scientific Reports describing the genetic editing of human leukocyte antigen in hematopoietic stem cells as a means of broadening the human application of these and other cell therapies.
Over the week, shares rose 29%, but they are down 9% year to date. Shares of Ziopharm traded at $7.84 on Friday’s close. The stock has a consensus analyst price target of $13.50 and a 52-week trading range of $4.56 to $14.93.
Trevena
Trevena Inc. (NASDAQ: TRVN) was one of the biopharma companies leading the bulls’ charge to start out last week. This movement came from the FDA granting a Breakthrough Therapy designation to the company’s lead product candidate, intravenous oliceridine (TRV130), for the management of moderate-to-severe acute pain. Following two successful Phase 2 studies, oliceridine is now in Phase 3 development. The Athena-1 safety and tolerability study is ongoing, with pivotal studies expected to begin in the second quarter of 2016.
Over the course of the week, shares rose 14%, but they are down 12% year to date. The stock was at $9.18 on Friday’s close. The consensus analyst target is $15.94, and the 52-week trading range is $5.06 to $13.57.
24/7 Wall St.Radius Health
Before the markets opened on Thursday, Radius Health Inc. (NASDAQ: RDUS) reported its fourth-quarter financial results. It said it had a net loss per share of $0.77, compared to consensus estimates that called for a net loss of $0.70 per share. At the end of the quarter, the company had $473.3 million in cash, cash equivalents and marketable securities. At the same time, Radius is continuing to make significant progress in advancing its pipeline, including the submission of its MAA in Europe for the investigational drug abaloparatide-SC for the treatment of women with postmenopausal osteoporosis who are at risk for a fracture, which is under regulatory review.
During the week, shares rose almost 12%, though they are down 50% year to date. Shares of Radius closed at $30.00 on Friday. The stock has a consensus price target of $70.60 and a 52-week range of $24.75 to $84.64.
Valeant Pharmaceuticals
Shares of Valeant Pharmaceuticals International Inc. (NYSE: VRX) had a very rocky week, fluctuating within in a range of over $10. Early in the week, the company noted that it may restate its earnings after having a second look at drug distributor Philidor. Ultimately, the company said it will delay filing its annual report with regulators while it sorts out its former relationship with Philidor. However, afterward this company made a serious recovery from the low on the week of $72.43.
Shares rose 14% from the low of last week and, year to date, they are down 17%. The stock traded at $80.65 on Friday’s close. The consensus price target is $156.36, and the 52-week range is $69.33 to $263.81.
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