In Thursday morning’s trading session, it seemed almost across the board that biotech stocks were the largest gainers. The broad markets were signaling optimism Thursday after a lackluster week, and biotech stocks are a big part of the push. 24/7 Wall St. has assembled the biggest biotech movers from Thursday and included some color about where the stock is on its 52-week range and against the consensus analyst price target.
BIND Therapeutics Inc. (NASDAQ: BIND) announced that it had enrolled its first patient in a mid-stage trial for BIND-014, which is designed to treat lung cancer. The trial was driven by positive results from the Phase 2 trial in NSCLC presented at the EORTC-NCI-AACR Annual Symposium in Barcelona in November. Shares of BIND were up roughly 80% at $9.29 just after the opening bell. The stock has a consensus analyst price target of $17.67 and a 52-week trading range of $5.13 to $14.75.
Neurocrine Biosciences Inc. (NASDAQ: NBIX) had an experimental drug developed with AbbVie that reduced symptoms of endometriosis in premenopausal women. After six months of treatment, elagolix was found to significantly reduce the menstrual and non-menstrual pain, compared with a placebo. Shares of Neurocrine were up 28% at $27.91 in the first hour of trading. The consensus analyst price target is $24.00, and the 52-week trading range of $12.17 is $24.86.
Impax Laboratories Inc. (NASDAQ: IPXL) announced that the U.S. Food and Drug Administration (FDA) approved its drug Rytary, which is designed to treat Parkinson’s disease. This has been a rocky road for Impax as the FDA had previously rejected the drug, citing manufacturing problems. Shares of Impax were up 13% at $34.99 in early trading. The consensus price target is $32.08. The 52-week trading range is $21.34 to $33.05.
Amicus Therapeutics Inc. (NASDAQ: FOLD) released its positive Phase 3 data on its drug, migalastat, in the treatment of cardiovascular disease. The data released strongly suggest that migalastat has a persistent and increasing positive effect on the left ventricular mass index as treatments have led to significant reductions in cardiac mass. Shares of Amicus were up 5% at $8.98 just after the opening bell. The consensus price target is $10.67, and the 52-week trading range is $1.77 to $9.10.
MannKind Corp. (NASDAQ: MNKD) announced Thursday morning that it has earned a total of $50 million in milestone payments in connection with its collaboration and licensing agreement with Sanofi. MannKind had previously received $150 million as an upfront payment and can potentially earn up to $725 million in further development. Shares of MannKind were up over 1% at $5.74 in the first hour of trading. The consensus price target is $8.93, and shares have traded in a 52-week range of $3.80 to $11.48.
Isis Pharmaceuticals Inc. (NASDAQ: ISIS) announced that it expects to significantly improve on its 2014 guidance. The guidance was raised due to the maturation of the company’s drug pipeline, which consists of 33 drugs treating a wide array of diseases. Shares were up 3% at $70.78 just after the market opened. The consensus price target is $55.90, and shares have traded between $22.25 and $69.11 in the past year.
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