Pacific Biosciences of California and Nymox Pharmaceutical Move Up On Bullish Product Environments
NEW YORK, NY / ACCESSWIRE / March 30, 2017 / Both companies had active trading sessions on Wednesday, as news of insider buying and optimistic product forecasts drew attention to the two biotech stocks.
RDI Initiates Coverage:
Pacific Biosciences of California https://ub.rdinvesting.com/news/?ticker=PACB
Nymox Pharmaceutical Corporation https://ub.rdinvesting.com/news/?ticker=NYMX
Pacific Biosciences of California advanced 10.93% to close at $5.38 on Wednesday. The stock traded between $5.65 and $4.82 on volume of 3.83 million shares traded. The company designs and manufactures sequencing systems that resolve genetically complex problems. Investors expressed confidence when they looked into Cowen and Company's results of a 51-lab survey released on Wednesday, which forecasted a bullish environment for next-generation sequencing technology, to rise up to as much as 80% in 2017. Cowen also said that Pacific Biosciences' sequencing franchise is "making steady improvements" and this gear works best for small volume.
On February 2nd of this year, the company announced its 4th quarter results for 2016 where revenues totaled $25.7 million compared to $36.3 million for the same reporting period in 2015 and the company has reported a loss of $19.0 million or $0.21 a share for the fourth quarter of 2016 as compared to loss of $1.4 million or $0.02 a share in same reporting period of 2015. However looking at granular level data, larger part of revenues was of contractual revenues from Roche in the fourth quarter of 2015 as compared to larger portion of revenues was of core products' sales in the fourth quarter of 2016. Pacific Biosciences' product and service revenue for the 2016 4th quarter increased 92.2% to $24.4 million, compared to $12.7 million for the same reporting period in 2015. Pacific Biosciences reported gross profit for the 4th quarter of 2016 was $11.4 million, compared with a $26.5 million gross profit one year earlier. The company has witnessed a numbers of insider buying in the current quarter. As the consensus of analysts has called for "overweight" rating on the company, the company witnessed rise of 11.16 percent in its market price since the release of 4th quarter result.
Access RDI's Pacific Biosciences Research Report at: https://ub.rdinvesting.com/news/?ticker=PACB
Nymox Pharmaceutical advanced 11.56% to close at $3.57 on Wednesday. The stock traded within a one dollar range at $4.10 and $3.15 on volume of 1.86 million shares traded. The company is expected to begin the process of submitting its initial filing that will seek approval for Fexapotide Triflutate, its BPH drug, in the next few weeks. On March 29th, Nymox Director James Robinson who regularly purchased shares of the company in last couple of years, purchased another 50,000 shares of the company at prices ranging from $3.49 to $3.60 per share. He now owns 3,317,950 shares of the company.
The FDA trial designation for Fexapotide Triflutate, NX-1207, is a drug used for the treatment of BPH. It can be administered by an urologist as an outpatient procedure in only a few minutes without requiring any type of anesthesia and little or discomfort is associated with the procedure. The company website notes that results of the Phase II trials show "men treated with NX-1207 reported statistically significant improvement in BPH symptoms 3 and 6 months after a single NX-1207 treatment with no reported serious drug-related side effects, including no (0%) significant sexual side effects. Patients notice improvement as early as a week or two after treatment." Additionally, NX-1207 treatments do not require the patient to adhere to a daily regimen of pills for the rest of a patient's life.
Access RDI's Nymox Pharmaceutical Research Report at: https://ub.rdinvesting.com/news/?ticker=NYMX
Our Actionable Research on Pacific Biosciences of California (NASDAQ: PACB) and Nymox Pharmaceutical Corporation (NASDAQ: NYMX) can be downloaded free of charge at Research Driven Investing.
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