Health and Healthcare

Top 4 BioPharma Movers of the Week

Chris Lange

Published: February 6, 2016 10:15 am

Last Updated: January 13, 2020 1:32 pm

Over the past week, a few biotech companies made absolutely massive runs, either up and down. In the past year, the health care sector was on fire from positive trials, U.S. Food and Drug Administration (FDA) approvals and mergers and acquisitions, but results are becoming more mixed as the valuation of these companies comes into question. Not to mention we might be in a bear market as well.

These companies 24/7 Wall St. has picked stood out from the rest with big moves over the course of last week. We have included information about each company, as well as recent trading activity and the consensus price target.

Neos Therapeutics

Though is gearing up for a secondary offering, Neos Therapeutics Inc. (NASDAQ: NEOS) has not released any pricing details on it yet. The most recent closing price to the filing was $13.58, and the offering is valued up to $69 million. Naturally with secondary offerings, shares are being diluted, so we can expect the value to drop.

Over the course of the past week, Neos shares fell 35.8%, and they are down 39.2% year to date. The stock traded at $8.72 per share on Friday’s close. It has a consensus analyst price target of $31.33 and a 52-week trading range of $8.91 to $28.99.

Alere

Following the announcement that it will be acquired by Abbott Laboratories, Alere Inc. (NYSE: ALR) absolutely skyrocketed in Monday’s regular session. The companies have only entered into a definitive agreement, so customary and regulatory conditions still apply if the transaction is to close. Under the terms of the agreement, Abbott will acquire Alere for a total of $56 per share, putting the total value of the offering at $5.8 billion, or a 50.5% premium from January 29’s closing price of $37.20.

Last week, shares rose 43%, and they are up about 36% year to date. Alere was trading at $53.20 on Friday’s close. The stock has a consensus price target of $56.00 and a 52-week range of $31.96 to $55.99.

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