Tuesday’s Top Health Care Movers

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On Tuesday, a few biotech companies made substantial runs, either up and down, due to the results of U.S. Food and Drug Administration (FDA) approvals, failed or passed trials and even earnings results. Below we have included information about each company, as well as recent trading activity and the consensus price target.

Anthera Pharmaceuticals

Early on Tuesday, Anthera Pharmaceuticals Inc. (NASDAQ: ANTH) rose after the Data and Safety Monitoring Board (DSMB) completed its first preplanned safety review of the company’s Phase 3 SOLUTION clinical study of Sollpura in cystic fibrosis patients with exocrine pancreatic insufficiency.

It was recorded that the DSMB had “no concerns regarding safety of the data to date, and voted that the study continue without modification to the protocol or charter.”

Shares of Anthera were trading up nearly 6% at $3.37 on Tuesday. The stock has a consensus analyst price target of $10.60 and a 52-week trading range of $2.28 to $10.00.

Aratana Therapeutics

Aratana Therapeutics Inc. (NASDAQ: PETX) announced that the FDA’s Center for Veterinary Medicine approved Nocita (bupivacaine liposome injectable suspension) as a local post-operative analgesia for cranial cruciate ligament surgery in dogs. Aratana anticipates Nocita will be commercially available to veterinarians in the fall of 2016. Steven St. Peter, M.D., president and CEO of Aratana, commented:

We believe Nocita will help transform the way veterinarians control post-operative pain for dogs undergoing cranial cruciate ligament surgery. As our third FDA-approved therapeutic this year, we are pivoting our attention to successfully bringing these therapeutics to market over the coming months.

Shares of Aratana were down as low as about 3% at $9.14, with a consensus price target of $11.67 and a 52-week range of $2.56 to $19.99.

Aurinia Pharmaceuticals

Shares of Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) took a dive on Monday, with those shares practically getting cut in half. This was the result of the completion of its mid-stage trial wherein the company actually met its primary endpoint and the trial was considered a success.

However there were 13 deaths in the study, out of 265 patients, as well as a higher overall rate of serious adverse events in both voclosporin groups. Investors latched on to this tidbit of data and dumped the stock, but this is not the end of the story. Aurinia has since made a small recovery as it seems that Monday’s drop may have been overstated, especially on positive results.

Shares of Aurinia were last seen up 18% at $2.14, with a consensus price target of $7.80 and a 52-week range of $1.42 to $4.49.

Evoke Pharma

After the markets closed on Monday, Evoke Pharma Inc. (NASDAQ: EVOK) reported its second-quarter financial results. The company posted a net loss of $3.0 million, or a loss of $0.41 per share, versus the consensus estimate of a net loss of $0.43 per share. In the same period of last year, it posted a net loss of $0.52 per share.

Evoke recently had its late-stage trial of Gimoti (nasally delivered metoclopramide product for the treatment of diabetic gastroparesis in women) fail to demonstrate statistically significant data. On the books, the company has cash and cash equivalents totaling $4.1 million.

Shares of Evoke were down about 10% at $2.35. The consensus price target is $10.03. The 52-week range is $1.52 to $11.11.