Biotech Overbought Stocks: Idenix Pharmaceuticals Inc (NASDAQ:IDIX), Theravance Inc (NASDAQ:THRX), Sunesis Pharmaceuticals (NASDAQ:SNSS), Applied Genetic Technologies Corp (NASDAQ:AGTC)

Posted by on Jun 25, 2014

On June 9, 2014, Idenix Pharmaceuticals, Inc. (NASDAQ: IDIX) and Merck (NYSE:MRK) announced that the companies have entered into an agreement under which Merck will acquire Idenix Pharmaceuticals, Inc for $24.50 per share in cash. Idenix Pharmaceuticals Inc (NASDAQ:IDIX) weekly performance is 0.15%. On last trading day company shares ended up $24.02. Analysts mean target price for the company is $14.88. Idenix Pharmaceuticals Inc (NASDAQ:IDIX) distance from 50-day simple moving average (SMA50) is 145.09%.

On 12 JUNE Theravance Inc (NASDAQ:THRX) announced the appointment of George B. Abercrombie, Senior Vice President, Corporate Partnerships, Commercial. Mr. Abercrombie will report directly to Rick E Winningham, Chief Executive Officer and be responsible for working closely with Theravance Inc (NASDAQ:THRX) ‘s partners to achieve optimal results from the commercialization of the assets shared by the companies. Theravance Inc (NASDAQ:THRX) shares fell -0.83% in last trading session and ended the day on $29.72. THRX Gross Margin is 94.40% and its return on assets is -37.40%. Theravance Inc (NASDAQ:THRX) quarterly performance is 18.36%.

On 2 JUNE Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) announced the presentation of updated results from an ongoing Phase 1b/2 University of Texas MD Anderson Cancer Center-sponsored trial of Qinprezo™ (vosaroxin) in combination with decitabine in older patients with previously untreated acute myeloid leukemia (AML) and high-risk myelodys plastic syndrome (MDS). Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) shares moved up 2.65% in last trading session and was closed at $6.59, while trading in range of $6.41 – $6.62. Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) year to date (YTD) performance is 39.03%.

On 10 JUNE Applied Genetic Technologies Corp (NASDAQ:AGTC) reported ($25.45) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.37) by $25.08. The company had revenue of $0.23 million for the quarter, compared to the consensus estimate of $0.15 million. On average, analysts predict that Applied Genetic Technologies Corp will post $-14.11 earnings per share for the current fiscal year. Applied Genetic Technologies Corp (NASDAQ:AGTC) ended the last trading day at $31.12. Company weekly volatility is calculated as 9.33% and price to cash ratio as 17.88. Applied Genetic Technologies Corp (NASDAQ:AGTC) showed a positive weekly performance of 4.18%.

Leave a Reply

Your email address will not be published. Required fields are marked *