The biotech market has been on fire this year, and there is every indication that things will continue. With huge binary events right around the corner, and many of the top companies with clinical trials that have shown tremendous results, some of the gains for investors can be staggering.
This week several analysts’ calls rocked the biotech world. These were the kind of calls that if they go right could bring investors a double or even bring bigger returns. Earlier this month, 24/7 Wall St. covered nine stocks that could double in 2014. Here are four top biotech stocks that could bring investors a double or greater.
Read more: Four Biotech Stocks Called to Double - 24/7 Wall St. http://247wallst.com/healthcare-business/2014/02/22/four-biotech-stocks-called-to-double/#ixzz2u4BC7kWH
Insmed Inc. (NASDAQ: INSM) got a huge lift this week when Piper Jaffray went against the grain and made a bold call. Insmed provided an interim update from the CLEAR-110 study, an ongoing, two-year, open-label extension study of once-daily Arikace, or liposomal amikacin for inhalation, to treat pseudomonas aeruginosa in cystic fibrosis patients. These data are from 98 patients who have completed the first 12 months of the CLEAR-110 extension study. The data were collected as part of a scheduled data safety monitoring board review of the CLEAR-110 extension study. The data showed that Arikace was well tolerated, and there was a sustained improvement from baseline level in Forced Expiratory Volume in One Second. The Piper Jaffray team thinks that the drug will get orphan indications in Europe and perhaps from the FDA. They raised their price target to $45. The consensus figure is much lower at $26.43. Insmed was trading Friday in the $18.75 area.
Read more: Four Biotech Stocks Called to Double - 24/7 Wall St. http://247wallst.com/healthcare-business/2014/02/22/four-biotech-stocks-called-to-double/#ixzz2u4BT5osP
Follow us: @247wallst on Twitter | 247wallst on Facebook