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.
Vitae Pharmaceuticals
After the markets closed on Thursday, Vitae Pharmaceuticals Inc. (NASDAQ: VTAE) reported its most recent earnings. The company said it had a net loss of $0.52 per share, compared to the consensus estimate from Thomson Reuters of a net loss of $0.62 per share. The company had a net loss last year of $0.40 per share.
Over the week, shares fell about 50%, but they are down nearly 75% year to date. Shares of Vitae traded at $4.69 on Friday’s close. The stock has a consensus analyst price target of $21.67 and a 52-week trading range of $4.15 to $18.71.
Juno Therapeutics
Not only did Juno Therapeutics Inc. (NASDAQ: JUNO) release its earnings at the beginning of the week, but it also gave an update on its business. The big news was not necessarily the earnings but the fact that Juno had entered into a 10 -year collaboration with Celgene Corp. (NASDAQ: CELG) to leverage T-cell therapeutic strategies with an initial focus on CAR T and TCR therapies.
Celgene gained the option to commercialize Juno programs outside North America and China and to co-promote certain programs globally. Juno has gained the option to co-develop, co-promote and share profits with respect to select Celgene programs. In connection with the collaboration and stock purchase agreement, Juno received $1.0 billion.
Over the course of the week, Juno shares rose 22%, but they are up just over 1% year to date. The stock was at $43.75 on Friday’s close. Its consensus analyst target is $55.22, and the 52-week trading range is $22.37 to $69.28.
During the week, Celgene shares remained relatively flat but they fluctuated in a range of about $6, or roughly 6% of its price. The stock is down about 14% year to date. Shares closed at $102.51 on Friday, in a 52-week range of $92.98 to $140.72. The consensus price target is $138.50.
Halozyme Therapeutics
Reporting its financial results this week as well was Halozyme Therapeutics Inc. (NASDAQ: HALO). The company posted $0.03 in earnings per share (EPS), which compared to the consensus estimate that called for a net loss of $0.11 per share. The year-ago period had a loss as well. Revenue was reported as $52.2 million.
The company gave its guidance for the coming year as $110 million to $125 million in revenue, operating expenses in the range of $240 million to $260 million and a year-end cash balance of $140 million to $160 million. Shares rose 19% over the course of last week, and year to date they are down 43%. The stock traded at $9.59 on Friday’s close. The consensus price target is $16.84, and the 52-week range is $6.96 to $25.25.
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.