The vast majority of biotech stocks (over 0.5M volume) joined a broad market rally on Friday as gainers exceeded losers with Sarepta Therapeutics Inc (NASDAQ:SRPT) rising $3.52 or 14.43% after an upgrade.
Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) jumped 9.14% after a Seeking Alpha article claimed that the stock is one of the most undervalued biotech companies. [article_detail_ad_1]
DARA Biosciences Inc (NASDAQ:DARA) surged 9.29%, extending 4-day gaining streak.
Nektar Therapeutics (NASDAQ:NKTR) advanced 6.18% as the company is getting closer to an FDA decision regarding its ultra-rapid inhalable insulin product Afrezza.
Theravance Inc (NASDAQ:THRX) rose 5.51% after Sanford C. Bernstein upgraded the stock from a “market perform” rating to an “outperform” rating.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) scored fourth gain in a row after Stephen Biggar was elected to its board.
Exelixis, Inc. (NASDAQ:EXEL) added 4.14% after declaring the commercial availability of COMETRIQ® (cabozantinib).
Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) marked new high after a Director at the company, Sharp Philip A, bought 4,967 shares at a price of $20.13.
Sequenom, Inc. (NASDAQ:SQNM) and Cell Therapeutics Inc (NASDAQ:CTIC) both gained more than 4% while Celsion Corporation (NASDAQ:CLSN), Amyris Inc (NASDAQ:AMRS) and ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) advanced below 3%.
NuPathe Inc (NASDAQ:PATH) increased 2.97% after Wedbush Securities lifted its price target from $6 to $8 on the stock.
Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) rose 2.58% a day after the company priced a proposed sale of up to $300 million in stock.
Incyte Corporation (NASDAQ:INCY) advanced 2.47% on above-normal volume.
Sangamo Biosciences, Inc. (NASDAQ:SGMO) marked new high after a report that researchers at the University of Texas and Stanford University have blocked HIV from healthy cells.
Celgene Corporation (NASDAQ:CELG) rose 2.33% after earnings beat and upbeat performance of its oncology drug, Abraxane, in a phase III study.
Santarus, Inc. (NASDAQ:SNTS) broke past 52-week high after an article published by Bloomberg.
Gilead Sciences, Inc. (NASDAQ:GILD) reach its best since IPO as the company predicted to initiate the second phase III study (111) on tenofovir alafenamide (TAF) soon.
Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) traded higher on hope for pancreatic-cancer drug.
AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) turned green a day after the company closed recently announced public offering of common stock.
Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI), Illumina, Inc. (NASDAQ:ILMN) and XenoPort, Inc. (NASDAQ:XNPT) each added more than 2% while Hemispherx BioPharma, Inc (NYSEAMEX:HEB), Corcept Therapeutics Incorporated (NASDAQ:CORT), Geron Corporation (NASDAQ:GERN), Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR) and Oncothyreon Inc (USA) (NASDAQ:ONTY) all rallied between 1-2%.
Amgen, Inc. (NASDAQ:AMGN) edged 0.97% up after results beat. More recently, the company has released results from Pegfilgrastim and Anti-VEGF Evaluation Study (PAVES).
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) hit an all time high after CEO Jean-Jacques Bienaimé unveiled a plan to file an investigational new drug application with the Food and Drug Administration.
Charles River Laboratories (NYSE:CRL) and PAREXEL International Corporation (NASDAQ:PRXL) both were new 12-month high price achievers.
Regeneron Pharmaceuticals Inc (NASDAQ:REGN) gained 0.77% after analysts at Robert W. Baird maintained their outperform rating on the stock.
More on the upside, Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX), Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX), NPS Pharmaceuticals, Inc. (NASDAQ:NPSP), Idenix Pharmaceuticals, Inc. (NASDAQ:IDIX), Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA), Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) and Halozyme Therapeutics, Inc. (NASDAQ:HALO) all ended in green.
Surprisingly, ArQule, Inc. (NASDAQ:ARQL), Peregrine Pharmaceuticals (NASDAQ:PPHM) and Novavax, Inc. (NASDAQ:NVAX) all ended with no change by the close on Friday.
On the flip side, VIVUS, Inc. (NASDAQ:VVUS) lost the most among biotech stocks after an The Motley Fool article claiming that without a partner it shares could not go much higher and a buyout would be on weakness.
ImmunoGen, Inc. (NASDAQ:IMGN) declined after results.
Inovio Pharmaceuticals, Inc. (NYSEAMEX:INO) and Rexahn Pharmaceuticals, Inc. (NYSEAMEX:RNN) both fell more than 3% while Pluristem Therapeutics Inc. (NASDAQ:PSTI), Savient Pharmaceuticals, Inc. (NASDAQ:SVNT) and Optimer Pharmaceuticals, Inc. (NASDAQ:OPTR) each lost more than 2%.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) was down before its earnings release late Monday. The company is expected to post a loss versus profit a year ago.
Dyax Corp. (NASDAQ:DYAX) extended fall after analysts at Zacks downgraded the stock to a “neutral” rating from “outperform.
Biogen Idec Inc. recovered to some extent after analysts at Brean Murray reissued their buy rating, but failed to end the day in green.
Despite hitting new high, Acorda Therapeutics Inc (NASDAQ:ACOR) declined after winning a $2.67 million contract from the U.S. Army Medical Research and Material Command (USAMRMC).
More on the flip side, InterMune, Inc. (NASDAQ:ITMN), Dendreon Corporation (NASDAQ:DNDN), Galena Biopharma Inc (NASDAQ:GALE), PDL BioPharma Inc. (NASDAQ:PDLI) and Zalicus Inc (NASDAQ:ZLCS),