Health and Healthcare
7 BioHealth Movers That Cannot Be Ignored
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Over the past week, a few biotech companies made absolutely massive runs. 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. The companies 24/7 Wall St. has picked stood out from the rest with incredible gains or losses over the course of the past week. We have included information about each company, as well as recent trading activity and the consensus price target.
Horizon Pharma PLC (NASDAQ: HZNP) took a shot Wednesday morning on news that it was legally embattled with Express Scripts. A $140 million lawsuit was filed against Horizon that states it did not pay certain rebates to Express Scripts. Shares rose 2% last week and are up 36.6% year to date. The stock traded up nearly 9% at $19.15 on Friday. The consensus analyst price target is $40.63, and the 52-week trading range is $11.87 to $39.49.
Mallinckrodt PLC (NYSE: MNK) was the target of short selling firm Citron last week, after a tweet on Monday sent the stock tumbling. However, it made a handy recovery on Tuesday, but shares slowly sank the rest of the week. Over the week, shares fell 19.7%, and they are down 46% year to date. The stock traded up 7% at $57.16 on Friday. The stock has a consensus price target of $101.40 and a 52-week range of $52.01 to $134.26.
ALSO READ: Why Horizon and Express Scripts Woes Might Make DepoMed Dirt Cheap
Otonomy Inc. (NASDAQ: OTIC) reported a third-quarter loss on Tuesday, but it did beat Wall Street estimates. Not to mention the company capped the quarter with positive results from its Phase 2 trials of OTO-104. Shares rose 25.6% last week and are down only 13.6% year to date. Otonomy traded up 6.5% at $30.67 on Friday. The consensus price target is $38.83. The 52-week range is $16.50 to $41.99.
Perrigo Co. PLC (NYSE: PRGO) saw its shares drop on Friday on mixed news. The good news was that Perrigo fought for and maintained control despite an attempted buyout by Mylan. However, because it no longer is pursued by Mylan, the M&A pump on its price has run its course. Shares fell 2.5% last week and are down only 6.2% year to date. The stock traded down about 7% at $145.34 on Friday. The consensus price target is $199.78, and the 52-week range is $140.40 to $215.73.
Puma Biotechnology Inc. (NYSE: PBYI) had a major drop in its share price on Tuesday, after it reported a third-quarter loss. This is not the first time that Puma has disappointed on earnings, but if it is to turn itself around, the company has to figure something out soon. Over the week, shares fell nearly 18%. They are down 61% year to date. Shares traded at $74.71 on Friday. The stock has a consensus price target of $192.75 and a 52-week range of $70.39 to $252.92.
SciClone Pharmaceuticals Inc. (NASDAQ: SCLN) said it had $0.26 in earnings per share and $42.9 million in revenue. Zadaxin is the primary drug in the SciClone portfolio, making up about 91% of the company’s sales. It is used in the treatment of hepatitis B. Sales of Zadaxin jumped an incredible 22% to roughly $39 million in the quarter. Considering other biotech giants recently have scaled their hepatitis treatments with incredible success, the outlook is very bright for SciClone. Currently Zadaxin is not available in the United States, so there is room for expansion. Shares rose 12.7% last week. They traded up about 3% at $9.02 on Friday. The consensus price target is $10.00, and the 52-week trading range is $6.47 to $11.71.
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Bellicum Pharmaceuticals Inc. (NASDAQ: BLCM) is newer and smaller than some of the health care stocks we track, but its shares got on the map this last week after it reported third-quarter earnings. It had solid earnings and reported good progress in the advancement of its stem cell transplant. Over the week, shares rose about 32%. They are down only 9.5% year to date. Bellicum traded at $20.88 on Friday, with a consensus price target of $39.33 and a 52-week range of $12.25 to $33.63.
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