|Bid||109.46 x 1300|
|Ask||110.59 x 1800|
|Day's Range||108.85 - 110.60|
|52 Week Range||89.01 - 122.97|
|PE Ratio (TTM)||3.84|
|Beta (3Y Monthly)||1.64|
|Expense Ratio (net)||0.47%|
Shares of Lipocine Inc. rocketed 49% toward a one-year high in very active premarket trade Thursday, after the pharmaceutical company reported upbeat interim results of a study of its treatment for non-alcoholic steatohepatitis (NASH). Volume ballooned to 3.2 million shares, compared with the full-day average of about 88,500 shares, and enough to make the stock the most actively traded ahead of the open. The company said its LPCN 1144 NASH treatment showed an "absolute mean reduction" from baseline of 7.6% liver fat and deomonstrated a 38% relative mean liver fat reduction from baseline. The responder rate, in which at least a 4.1% absolute reduction in liver fat from baseline was experienced was 86%. The study showed that LPCN 1144 was well tolerated. "We are very encouraged by these results especially as the observed liver fat reductions are the largest of any well-tolerated oral product candidate within approximately eight weeks," said Chief Executive Mahesh Patel. The stock has run up 18% over the past three months through Wednesday, while the iShares Nasdaq Biotechnology ETF has lost 5.3% and the S&P 500 has shed 6.9%.
Shares of biotechnology stocks as represented by the popular iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) have rallied close to 25% off their Dec. 24, 2018, lows. The charts in multiple time frames now suggest this move is overdone for the time being and that a mean-reversion trade to the downside is likely. Biotechnology stocks and the IBB ETF are often used as a risk-on/risk off trading vehicle by traders, meaning that if they think the broader stock market may ascend they will buy the IBB ETF for some extra leverage. The 25% rally over the past three weeks in my eye can at least in part be attributed to this type of trader positioning. Another reason for the sharp bounce was two acquisitions within this space over the past two weeks, which further got the bullish spirits going. InvestorPlace - Stock Market News, Stock Advice & Trading Tips While those near-term catalysts likely surprised many bears, what has not changed despite the squeeze higher is how the IBB ETF looks on the bigger-picture charts. ### IBB ETF Charts Click to Enlarge Moving averages legend: red - 200 week, blue - 100 week, yellow - 50 week Zooming out on the multiyear weekly chart, we see that the IBB ETF made a clear overshooting top in 2015. After a sharp mean-reversion move lower into early 2016 these stocks found support at the green line and began to find footing again. By September/October of 2018, however, these large-capitalization biotech stocks made a notable lower high versus their 2015 highs as the broader U.S. stock market began to sell off. * 10 Growth Stocks With the Future Written All Over Them As a result of the q4 weakness, the IBB ETF broke below its longer-standing technical support line (green line). At the same time, all of its intermediate term moving averages (50-, 100- and 200-week) are now sloping lower and will likely soon provide a tremendous amount of overhead resistance. Click to Enlarge Moving averages legend: red - 200 day, blue - 100 day, yellow - 50 day On the daily chart, we see that the recent rally has pushed the IBB ETF right back up to its 100- and 200-day simple moving averages, which also coincides with simple diagonal resistance. The daily MACD momentum oscillator at the bottom of the chart is also getting near-term overbought. On Wednesday, IBB attempted to break above this layer of technical resistance but was quickly rejected. Active investors and traders could look to enter into a short position in the IBB ETF around the $109-$110 area. A next downside profit target is $102 and a stop loss at $112. Get FREE ACCESS to Serge's renowned Stock Market Scanner with actionable trade ideas. Get it HERE. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * Top 10 Global Stock Ideas for 2019 From RBC Capital * 10 A-Rated Stocks the Smart Money Is Piling Into * 5 Best Bank ETFs for This Week's Earnings Avalanche Compare Brokers The post Trade of the Day: The Biotechnology Stocks ETF Is Running Out of Steam appeared first on InvestorPlace.
Aptinyx Stock Plunged 70% after Clinical Trial FailureStock performanceToday, Aptinyx (APTX) is trading at $5.26, which is a ~70.5% decline from yesterday’s closing price of $17.83. Also today, Aptinyx hit a 52-week low of $5.02. The company hit
Shares of Aptinyx Inc. fell 67% in premarket trade Wednesday after the biotech company announced that the phase 2 study of its treatment for painful diabetic peripheral neuropathy did not meet its primary endpoint. The therapy, NYX-2925, did not show a significant difference in patients' daily pain scores compared to placebo, Aptinyx said. The company said it is also conducting an exploratory phase 2 study of NYX-2925 in patients with fibromyalgia, and said a full analysis of the data should be available in the first half of 2019. Shares of Aptinyx have gained 7.8% in the year through Tuesday, while the S&P 500 has gained 4.1%. The iShares Nasdaq Biotechnology ETF has gained 13.3%.
Sarepta Therapeutics (NASDAQ:SRPT) started 2019 with very high volatility. After spiking to around $125 a share on Jan. 7, SRPT stock gave up those gains when markets took in the developments in its DMD pipelines and its Exondys 51 fourth-quarter sales outlook. Although shares rebounded from December 2018 lows, should biotech stock investors seriously consider investing in this company? At the J.P. Morgan conference, Sarepta said it will run 45 biopsies this quarter for SRP-4045. This is an investigational compound that treats DMD or Duchenne muscular dystrophy patients with mutations in the DMD gene. The drug works by directing cells, through Sarepta's PMO, to skip exon 45 when processing RNA. The dystrophin protein is shortened but is still synthesized, slowing the negative symptoms of DMD. If the biopsies are positive, Sarepta will file a marketing application, setting up a possible approval date of early 2020. InvestorPlace - Stock Market News, Stock Advice & Trading Tips ### SRPT's Sales Outlook SRPT stock volatility rose after the company issued its revenue outlook for Exondys 51. In the fourth quarter ended Dec. 31, 2018, it made $84.4 million in revenue from sales of Exondys 51. For 2018, revenue was around $301 million. It ended that same period with a healthy balance of $1.1 billion in cash. * 10 Key Emerging-Market Stocks to Buy for Contrarian Investors Markets reacted negatively to the outlook because it expected quarterly revenue of $85.8 million. The barely $2 million difference is a rounding error and the market quickly realized it. Quarterly revenue is in line with forecasts. As markets rebounded, taking the iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) up 11.5% on the week, SRPT stock also rose the same amount (11%). Sarepta's global growth plans should lower the risks of relying solely in one market: "We continue to build our international presence with limited infrastructure but dedicated colleagues in Latin America and Europe and a managed access program or MAP now live in some 44 countries. We should continue to see modest contribution from our MAP throughout 2018 with increasing contribution in 2019 and beyond." Source: SA Transcript ### Impressive Talent at Sarepta Sarepta highlighted the 25 programs in RNA and gene therapy underway. Its staff talent consists of over 500 professionals. This leading gene therapy team could deliver on bringing 3 RNA-therapies by 2020. It may potentially treat 30% of the DMD market. Historically, the team is showing that it is delivering. FY 2018 revenue nearly doubled to $301 million, up from the 2017 revenue of $154.6 million. ### Investing Opportunity Sarepta is a top five rare disease company by market cap. Only Alexion Pharmaceuticals (NASDAQ:ALXN), BioMarin Pharmaceutical (NASDAQ:BMRN) and Vertex Pharmaceuticals (NASDAQ:VRTX) are bigger. SRPT stock is underperforming compared to its peers. While the other firms' stock price traded closer to its 52-week highs after the market rally in the last few days, Sarepta is still around 33% below its yearly high. Wall Street coverage gained steam in the last few days. The company received over five "buy" calls, with a price target ranging from $161 to as high as $267. Analyst Firm Position Price Target Date Debjit Chattopadhyay H.C. Wainwright Buy $267.00 yesterday Salveen Richter Goldman Sachs Buy $191.00 2 days ago Matthew Harrison Morgan Stanley Buy $161.00 2 days ago Brian Skorney Robert W. Baird Buy $202.00 2 days ago Alethia Young Cantor Fitzgerald Buy $217.00 2 days ago Yun Zhong Janney Montgomery Buy $200.00 2 days ago Brian Abrahams RBC Capital Buy -- 3 days ago Martin Auster Credit Suisse Buy $189.00 3 days ago Tim Chiang BTIG Buy $190.00 13 days ago Source: tipranks ### Investment Suitability Like with all biotech companies in the discovery phase, SRPT is volatile and risky. Any FDA approval delays could disappoint markets, sending the stock lower. Clinical study costs could rise, but in Sarepta's case, the company has plenty of cash on hand. It is unlikely to need a cash raise through a share sale. * 7 Stocks to Buy That Are Run By Billionaires ### Bottom Line on SRPT Stock Sarepta Therapeutics stock benefited from the latest rebound in biotechnology stocks, but could move even higher in the longer term. It has a goal of commencing its confirmatory trial with commercial material this year. Given the strong team, doctors and scientists involved, chances are good that the trial, which has 24 patients, goes well and will bring positive results. As of this writing, Chris Lau did not hold a position in any of the aforementioned securities. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks You Can Set and Forget (Even In This Market) * 10 Virtual Assistants for the Future of Smart Homes * 7 5G Stocks to Buy as the Race for Spectrum Tightens Compare Brokers The post Why Sarepta Therapeutics Stock Is Starting to Shine Again appeared first on InvestorPlace.
Biotech just saw a big rally, and market experts believe the sector could have more room to run.
Three Healthcare Stocks Rallying Over 10% Today ## Three healthcare stocks The broader market is trading in the green territory today but largely on a mixed note compared to the volatility in the previous couple of sessions. At 11:40 AM ET, the S&P 500 Index (SPY), NASDAQ Composite Index (QQQ), and Dow Jones Industrial Average were trading with 0.8%, 1.1%, and 0.6% gains. However, some healthcare stocks (XLV)(VHT)(IBB) were making huge moves today. Let’s take a look. ## Loxo Oncology Today before the market opened, the American pharmaceutical giant Eli Lilly and Company (LLY) announced the acquisition of Loxo Oncology (LOXO). According to the agreement between the two companies, Eli Lilly will acquire Loxo for $235.00 per share in cash, which translates into approximately $8.0 billion. After the news came out, Loxo stock surged nearly 66.0% to $232.12. ## Sage Therapeutics The biopharmaceutical firm Sage Therapeutics (SAGE) revealed positive results of the Phase 3 ROBIN Study today. The outcome of the study suggested a “significant improvement” in women with postpartum depression (or PPD) who were treated with its SAGE-217 drug for two weeks. This news boosted investors’ confidence, and SAGE stock surged 62.1% to a day high of $158.09. ## Exact Sciences The molecular diagnostics firm Exact Sciences (EXAS) said today that it expects its fourth quarter of 2018 revenue between $142.5 million and $143.5 million, which reflected about a 64% rise in its revenue from the fourth quarter of the previous year. In a press release, the company said that it “completed approximately 292,000 Cologuard tests during the fourth quarter of 2018,” up about 66% year-over-year. Plus, Exact Sciences noted, “Nearly 15,000 health care providers ordered Cologuard for the first time during the fourth quarter of 2018.” These positive developments drove EXAS stock to rally today to post a day high of $72.78, up 11.0% from its previous session’s closing price. Note that in 2018, LOXO, LLY, and EXAS rose 66.4%, 37.0%, and 20.1%, respectively, while SAGE fell 41.8%.
Shares of Sage Therapeutics Inc. shot up 44% in active early-afternoon trade, after the Massachusetts-based biopharmceutical company said its treatment for postpartum depression (PPD) met the primary and secondary endpoints of a phase 3 trial. Trading volume swelled to about 3 million shares, compared with the full-day average of about 463,000 shares. The company said patients treated with SAGE-217 30 milligrams had a "statistically significant improvement" in the Hamilton Rating Scale for depression when compared with placebo, and was generally well tolerated. Separately, the company said it will provide updates on key 2019 initiatives, including drug milestones expected in the next 12-to-18 months, when it is scheduled to present last Tuesday at the J.P. Morgan Healthcare Conference. The stock has still declined 17% over the past 12 months, while the iShares Nasdaq Biotechnology ETF has slipped 2.9% and the S&P 500 has lost 6.5%.
Shares of Axsome Therapeutics Inc. rocketed 164% in very active premarket trade Monday, after the biopharmaceutical company developing therapies to treat central nervous system disorders said a phase 2 trial of its AXS-05 met its primary endpoint, and "significantly improved symptoms of depression." Trading volume ballooned to about 1.5 million shares, already about 5-times the full-day average of about 306,000 shares, and enough to make the stock the most actively traded ahead of the open. The company said AXS-05 met the primary endpoint by demonstrating a "highly statistically significant reduction" in the Montgomery-Asberg Depression Rating Scale total score. The company said ASX-05 was also safe and well tolerated, with no serious adverse events. The stock had tumbled 28% over the past three months through Friday, while the iShares Nasdaq Biotechnology ETF had lost 12.0% and the S&P 500 had declined 12.3%.
Shares of Insmed Incorporated shot up 18% in after-hours trading Friday after the company announced it expected sales of its antibacterial Arikayce to be $9.8 million for the fourth quarter, with $9.2 million in U.S. sales and $600,000 in sales outside the U.S. The drug is used to treat patients with a lung disease caused by a group of bacteria called Mycobacterium avium complex (MAC) and who do not respond to traditional treatment. Arikayce was granted accelerated approval by the FDA in September. Insmed said more than 500 U.S. patients had started treatment with the drug and approximately 600 physicians had written at least one prescription for the therapy as of Dec. 31. Shares of Insmed have fallen 51% in the past 12 months, while the iShares NASDAQ Biotech ETF has fallen 6.75%. The S&P 500 has fallen 7%.
The news has put the spotlight on a number of healthcare ETFs, especially biotech and pharma, which could be the best ways for investors to tap the opportunity arising from the BMY-CELG deal.
Biopharmaceutical company Mersana Therapeutics Inc. said Friday that it will discontinue development of its XMT-1522 cancer treatment, following a strategic evaluation by the company. The stock is currently halted for news. Instead, the company will focus its resources on advancing XMT-1536. XMT-1522 was being developed with its partner, Takeda Pharmaceutical Co. Ltd. . "We have made the difficult decision to terminate the further development of XMT-1522 despite a favorable emerging profile of efficacy and tolerability due to the competitive environment for HER2-targeted therapies," said Mersana Chief Executive Anna Protopapas. The company said it plans to report phase 1 trial dose escalation data in the first half of 2019. The stock has plunged 56% over the past three months, while the iShares Nasdaq Biotechnology ETF has lost 17% and the S&P 500 has shed 16%.
After a strong 2017, biotech stocks are on track to end the year in the red despite a record 59 new molecular entity approvals , some noteworthy M&A deals and several breakthrough developments in drug ...
Shares of Heron Therapeutics rose 4.5% in premarket trade Monday after the company announced the U.S. Food and Drug Administration had accepted the new drug application for its non-opioid alternative for post-operative pain management, granting it priority review designation. The product, dubbed HTX-011, is a combination of a long-acting, extended-release form of local anesthetic bupivacaine and the anti-inflammatory medication meloxicam. "We believe that HTX-011 could have a considerable impact on the lives of patients by significantly reducing the proportion of patients who experience severe pain and receive opioids after surgery, especially at discharge," said Heron Chief Executive Barry D. Quart in a statement. The FDA had previously granted breakthrough therapy status for HTX-011 based on the results of Phase 2 studies and two completed Phase 3 studies. Those studies showed the drug produced significant reductions in pain intensity and need for opioids compared to a placebo and bupivacaine alone. Shares of Heron have gained 31% this year, while shares of the iShares NASDAQ Biotechnology ETF have fallen 11%. The S&P 500 has fallen 7%.
After extended weakness, biotech stocks turned a corner along with the broader markets to close out the week. With just a session left, it looks less likely the sector ends in the black for the year. The ...
Heading into December, biotech stocks held up fairly well in 2018. Evaluate Pharma , a firm specializing in data-driven news and analysis in biotech, compiled a list of blockbuster drugs in the works with ...
SAN DIEGO , Dec. 20, 2018 /PRNewswire/ -- Mirati Therapeutics, Inc. (NASDAQ: MRTX), a clinical-stage targeted oncology company, today announced that it has been selected for addition to the NASDAQ Biotechnology ...
You probably know from experience that there is not as much information on small-cap companies as there is on large companies. Of course, this makes it really hard and difficult for individual investors to make proper and accurate analysis of certain small-cap companies. However, well-known and successful hedge fund investors like Carl Icahn and George […]
You’ll find them in the Financial Select Sector SPDR Fund (NYSEARCA:XLF). It’s Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B), which represents over 13% of assets. The best-known Berkshire insurance holding is Geico, which serves consumers, but they’re also heavily involved in business reinsurance, commercial property insurance and worker’s compensation.
Economic Data Ahead This week we have a few interesting pieces of data on the economic docket. Monday, not much happening but foreign buying of T-bonds could make a bit of a splash. The yield curve has inverted, partially, on the short end of Treasury maturities, and has flattened out on the longer end, and […] The post Market Morning: Rate Hike Ahead, Obamacare Struck Down, JNJ Asbestos Scandal, Qatar Challenges Saudis appeared first on Market Exclusive.
A biotech breakout. The Apple effect. And do ETFs really cause volatility? With CNBC's Bob Pisani, Dave Nadig, ETF.com and Doug Yones, New York Stock Exchange.
Biotech ETFs are soaring today as deal talk in the space heats up. The XBI is up 5 percent and the IBB is up 3 percent. We look under the hood of these two big biotech ETFs and discuss the differences.