Healthcare Business

6 Serious Biotech and Health Care Movers

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.

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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.

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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.