On May 22, Equities researchers at JPMorgan Chase & Co. upped their price objective on shares of Ophthotech Corp (NASDAQ:OPHT) from $40.00 to $51.00 in a research report issued on Tuesday. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s target price points to a potential upside of 37.84% from the stock’s previous close. Ophthotech Corp (NASDAQ:OPHT) weekly performance is 22.36%. On last trading day company shares ended up $38.03. Analysts mean target price for the company is $63.25. Ophthotech Corp (NASDAQ:OPHT) distance from 50-day simple moving average (SMA50) is 13.51%.
On May 14, Puma Biotechnology, Inc. (NYSE:PBYI), a development stage biopharmaceutical company, has expanded the first cohort from its Phase II clinical trial of its lead drug candidate PB272 (neratinib) as a single agent in patients with solid tumors who have an activating HER2 mutation (basket trial). The cohort that has been expanded is the cohort that includes patients with metastatic breast cancer that is not HER2 amplified or overexpressed (HER2 negative) and has a HER2 mutation. The Phase II basket trial, which was initiated in October 2013, is an open-label, multicenter, multinational study to evaluate the safety and efficacy of PB272 administered daily to patients who have solid tumors with activating (driver) HER2 mutations. Puma Biotechnology Inc (NYSE:PBYI) shares advanced 2.86% in last trading session and ended the day on $75.20. Its return on assets is -44.80%. Puma Biotechnology Inc (NYSE:PBYI) quarterly performance is -42.13%.
On May 22, Insys Therapeutics, Inc. (NASDAQ:INSY) announced that Michael L. Babich, President and Chief Executive Officer, and Darryl Baker, Chief Financial Officer, will present upcoming conferences: The Jefferies 2014 Global Healthcare Conference on June 2-5, 2014 at the Grand Hyatt in New York City. The presentation is scheduled for June 3, 2014 at 3:00 pm EDT. Insys Therapeutics Inc (NASDAQ:INSY) shares moved up -3.64% in last trading session and was closed at $25.66, while trading in range of $25.50 – $26.96. Insys Therapeutics Inc (NASDAQ:INSY) year to date (YTD) performance is -0.58%.
On May 22, Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) is indicated higher after the company released the full set of emails exchanged between the company and the NIDDK relating to the early stopping of the NASH trial. Intercept Pharmaceuticals Inc (NASDAQ:ICPT) ended the last trading day at $229.82. Company weekly volatility is calculated as 8.73% and price to cash ratio as 36.14. Intercept Pharmaceuticals Inc (NASDAQ:ICPT) showed a negative weekly performance of -18.00%.
On May 15, AstraZeneca PLC (NYSE:AZN) announced that it has received a $25 million milestone payment from AstraZeneca for the initiation of a Phase 2b clinical trial evaluating tenapanor for the treatment of hyperphosphatemia, or elevated serum phosphorus, in patients with end-stage renal disease on hemodialysis (ESRD-HD). With this payment, Ardelyx has received a total of $75 million in upfront and milestone payments from AstraZeneca under a worldwide exclusive license agreement announced in October 2012. AstraZeneca plc (ADR) (NYSE:AZN) net profit margin is 8.00% and weekly performance is -9.97%. On last trading day company shares ended up $72.28. Analysts mean target price for the company is $76.67. AstraZeneca plc (ADR) (NYSE:AZN) distance from 50-day simple moving average (SMA50) is 3.55%.
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