Over the past week, a few biotech companies made absolutely massive runs. The health care sector has been under fire from Washington over the past year, but it seems that things are picking up from recent positive trials, U.S. Food and Drug Administration (FDA) approvals and mergers and acquisitions. These companies 24/7 Wall St. has picked stood out from the rest with at least 25% gains over the course of the week. We have included information about each company, as well as recent trading activity and the consensus price target.
Catabasis Pharmaceuticals
Catabasis Pharmaceuticals Inc. (NASDAQ: CATB) shares skyrocketed on Thursday following an announcement that it would be partnering with Sarepta Therapeutics Inc. (NASDAQ: SRPT) for a joint research collaboration for a treatment for Duchenne muscular dystrophy (DMD).
Ultimately, the two companies will contribute their respective expertise to study an exon skipping treatment developed by Sarepta, together with an oral NF-kB inhibition treatment developed by Catabasis in a mouse model of DMD.
Over the past week, the stock gained about 41%. Shares were trading at $6.16 on Friday’s close, with a consensus price target of $19.50 and a 52-week trading range of $3.31 to $10.83.
Sarepta shares did not gain as much, but the stock was up 6% to close out the week at $61.41. The consensus price target is $72.57, and the 52-week range is $8.00 to $63.73.
Anavex Life Sciences
Shares of Anavex Life Sciences Corp. (NASDAQ: AVXL) soared on Wednesday following a material transfer agreement with Biogen Inc. (NASDAQ: BIIB). Biogen will test Anavex’s lead drug candidate, ANAVEX 2-73, in an oligodendrocyte precursor cell (OPC) differentiation assay. If all goes well in this study and there is a satisfactory result from the OPC assay study, it may lead to an in vivo remyelination study using a chemical demylination model.
Over the past week, Anavex shares increased by nearly 17%. The stock closed trading at $3.63 on Friday, with a consensus price target of $12.50 and a 52-week range of $1.37 to $14.84.
Biogen shares did not gain nearly as much, but the stock was up less than 1% to close out the week at $313.03. Its consensus price target is $344.61, and the 52-week range is $223.02 to $333.65.
Array BioPharma
Shares of Array BioPharma Inc. (NASDAQ: ARRY) saw a handy gain early in Monday’s session after the company announced top-line results from the first part of its late stage skin cancer trial. Specifically, Array announced its Phase 3 Columbus study evaluating LGX818 (encorafenib), and MEK162 (binimetinib), in unresectable or metastatic melanoma.
Looking at the investor reaction, the study met its primary endpoint significantly improving progression free survival (PFS) compared with vemurafenib. In the analysis of the primary endpoint, the median PFS for patients treated with the combination of encorafenib plus binimetinib was 14.9 months versus 7.3 months for patients treated with vemurafenib HR.
Array shares grew by 85% last week, closing the week at $6.75, with a consensus price target of $9.43 and a 52-week range of $2.38 to $7.27.
GW Pharmaceuticals
GW Pharmaceuticals PLC (NASDAQ: GWPH) announced positive results its Phase 3 clinical trial of its investigational medicine Epidiolex (cannabidiol) for the treatment of seizures associated with Lennox-Gastaut syndrome, a rare and severe form of childhood-onset epilepsy.
During the treatment period, patients taking Epidiolex 20mg/kg/day achieved a median reduction in monthly drop seizures of 42%, compared with a reduction of 17% in patients taking placebo, and patients taking Epidiolex 10mg/kg/day achieved a median reduction in monthly drop seizures of 37%, compared with a reduction of 17% in patients taking placebo.
Over the past week, the share price increased by 23%. The stock was trading at $132.73 on Friday’s close, with a consensus price target of $138.13 and a 52-week range of $35.83 to $135.16.
It’s Your Money, Your Future—Own It (sponsor)
Retirement can be daunting, but it doesn’t need to be.
Imagine having an expert in your corner to help you with your financial goals. Someone to help you determine if you’re ahead, behind, or right on track. With SmartAsset, that’s not just a dream—it’s reality. This free tool connects you with pre-screened financial advisors who work in your best interests. It’s quick, it’s easy, so take the leap today and start planning smarter!
Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.