Over the past week, a few biotech companies made impressive runs. These moves were the result of clinical trial results, U.S. Food and Drug Administration (FDA) decisions and more. 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.
Genocea Biosciences
Early on Thursday, Genocea Biosciences Inc. (NASDAQ: GNCA) soared, following the release of positive data from its mid-stage genital herpes clinical trial. The company announced positive 12-month efficacy data from its Phase 2 dose optimization trial evaluating GEN-003 for the treatment of genital herpes. The company believes that these results highlight the potential of GEN-003 to significantly enhance the genital herpes treatment landscape. Also considering the physical and psychological impact of this disease, both patients and treating physicians would be eager to use an effective treatment that more conveniently improves control of outbreaks.
Shares of Genocea rose 95% over the course of the week to a high of $7.67 but slid back down by the end of the week. Year to date, the shares are up around 47%. The stock closed Friday at $5.95. The consensus price target is $17.83, and the 52-week range is $2.56 to $16.18.
Opko Health
Following the release of a complete response letter (CRL) from the FDA, Opko Health Inc. (NYSE: OPK) saw its shares slide in Wednesday’s regular trading session. The company announced that the FDA has issued a CRL regarding the company’s New Drug Application (NDA) for Rayaldee (calcifediol) as a treatment for secondary hyperparathyroidism in patients with stage 3 or 4 chronic kidney disease and vitamin D insufficiency. The FDA indicated in the CRL that observations of deficiencies at Opko’s third-party contract manufacturer were issued on March 25, as a result of an FDA field inspection initiated on March 14.
During the week, shares fell 8%. Shares are up over 3% year to date. The stock closed Friday at $10.41. It has a consensus price target of $16.60 and a 52-week range of $7.12 to $19.20.
ContraVir Pharmaceuticals
ContraVir Pharmaceuticals Inc. (NASDAQ: CTRV) watched its shares ride the proverbial roller-coaster this past week. The stock shot up following positive results from a hepatitis B study earlier in the week, but it was back down after the pricing of its secondary offering was announced. The company is offering roughly 4.93 million shares of its common stock and warrants to purchase up to 2.46 million shares of the common stock at a fixed combined price to the public of $1.42. The shares of common stock and warrants will be issued separately.
Over the course of the week, shares fell 18%. Year to date, they are down 21%. The stock ended last week at $1.16. The consensus analyst target is $6.00, and the 52-week range is $0.76 to $6.28.
Acadia Pharmaceuticals
An incredibly positive FDA Psychopharmacologic Drugs Advisory Committee vote had Acadia Pharmaceuticals Inc. (NASDAQ: ACAD) shares on the rise again last week. The company announced that the committee voted 12 to two that the benefits of Nuplazid (pimavanserin) for the treatment of Parkinson’s disease psychosis outweigh the risks of treatment.
Acadia’s stock was down year to date 21%. Over the week, shares rose 24%. The stock last traded at $28.66. The stock has a consensus price target of $45.50 and a 52-week range of $16.64 to $51.99.
Inovio Pharmaceuticals
Early on Tuesday morning, Inovio Pharmaceuticals Inc. (NASDAQ: INO) made waves following an update for its human papillomavirus (HPV) treatment. The company announced a clinical strategy update to take its INO-3112 HPV immunotherapy into human studies in combination with selected immunotherapy molecules from MedImmune. Under the existing agreement, Inovio and MedImmune also will co-develop up to two additional DNA-based cancer vaccines not included in Inovio’s current product pipeline, which MedImmune will have the exclusive rights to develop and commercialize. Inovio will receive development, regulatory and commercialization milestone payments and will be eligible to receive royalties on worldwide net sales for these additional cancer vaccine products.
Shares rose 14% last week. Year to date, they are up 30%. The stock closed most recently at $9.25. The consensus analyst target is $19.00, and the 52-week range is $4.50 to $10.83.
Apricus Biosciences
In Monday’s trading session, Apricus Biosciences Inc. (NASDAQ: APRI) led the bears when top-line results did not stand up to expectations. The company announced top-line results from the Phase 2b proof-of-concept study of fispemifene in men with secondary hypogonadism and sexual dysfunction.
During the week, shares fell over 50%. They are down about 40% year to date. The stock closed most recently at $0.57. It has a consensus price target of $2.48 and a 52-week range of $0.56 to $1.99.
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