Health and Healthcare

Friday's 6 Biopharma Movers That Can't Be Ignored

Chris Lange

Published: January 6, 2017 11:55 am

Last Updated: January 12, 2020 4:06 pm

There is a very positive sentiment in the health care sector considering the new Trump administration that will be taking over in just two weeks. The health care sector was in trouble over the past year, under fire from congressional hearings and politicians on the campaign trail. But 2017 could be different for this sector. It is very possible that this new administration could lead to more positive trials, U.S. Food and Drug Administration (FDA) approvals and mergers and acquisitions.

24/7 Wall St. has picked out some of the biggest moves in the sector that stood out from the rest on Friday morning. We have included information about each company, as well as recent trading activity and the consensus price target.

Most of these moves are influenced by clinical trials or FDA decisions. And as we have said before, these have the potential to make or break companies in the health care sector. 24/7 Wall St. also has put together an FDA calendar for some key decisions and catalysts coming out in January and February.

Pacira Pharmaceuticals Inc. (NASDAQ: PCRX) has announced preliminary unaudited total revenues and net product sales for Exparel for the fourth quarter and the full year. Total revenues were $72.9 million and $276.4 million for the fourth quarter and full year, respectively. Exparel net product sales were $71.4 million and $239.9 million for the same periods, respectively. The consensus estimates from Thomson Reuters were calling for revenues of $72.56 million in the fourth quarter and $276.09 million in the full year.

Shares of Pacira were trading up over 14% at $39.15 on Friday. The stock has a consensus analyst price target of $48.83 and a 52-week trading range of $29.95 to $70.86.

Seattle Genetics Inc. (NASDAQ: SGEN) reported that it enrolled its first patient in its Phase 1 clinical trial of SGN-CD352A for patients with relapsed or refractory multiple myeloma (MM). This study represents the company’s first clinical-stage antibody-drug conjugate (ADC) program in development for MM, demonstrating the breadth of potential therapeutic applications for its ADC technology platform.

Seattle Genetics shares were trading up nearly 7% at $58.60, within a 52-week range of $26.02 to $75.36, and the consensus price target is $58.79.

Stemline Therapeutics Inc. (NASDAQ: STML) reported that it reached an agreement with the FDA on the registration pathway for its SL-401 in blastic plasmacytoid dendritic cell neoplasm (BPDCN). The company is currently enrolling an additional small cohort, planned for eight to 12 first-line BPDCN patients, into its ongoing Phase 2 trial, to support the filing of its Biologistics License Application. If successful, Stemline projects a commercial launch of SL-401 in 2018.

Stemline were recently traded up 14.5% at $12.99. The consensus price target is $28.25. The 52-week range is $3.88 to $14.60.

Shares of Amgen Inc. (NASDAQ: AMGN) saw a handy gain to close out the week after the company won a Delaware court ruling that blocked Sanofi (NYSE: SNY) and Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) from selling their cholesterol-lowering drug in the United States. Essentially the court found that the drug Praluent actually infringed upon Amgen’s patents for its rival treatment Repatha.

According to the ruling, Praluent sales must be halted for 12 years, effective 30 days from the ruling to allow for an appeal, which Sanofi and Regeneron are planning to do, or to “encourage the parties to reach an appropriate business resolution.”

Shares of Amgen traded up about 2.7% at $157.18. The consensus price target is $179.98 and the 52-week range is $133.64 to $176.85.

Regeneron shares were down 6.5% at $356.16. The 52-week range is $325.35 to $511.31. It has a consensus price target of $446.64.

Sanofi traded down over 3% at $40.17, with a consensus price target of $50.67 and a 52-week range of $36.81 to $44.50.