Over the past week, a few biotech companies made absolutely massive runs and some had serious falls. 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. These companies that 24/7 Wall St. has picked stood out from the rest with at least a 25% swing over the course of the week. We have included information about each company, as well as recent trading activity and the consensus price target.
Aerie Pharmaceuticals Inc. (NASDAQ: AERI) saw its shares skyrocket Thursday following the release of positive results from a recent study. The company reported the successful results of its second Phase 3 trial for Rhopressa, a novel once-daily, triple-action eye drop being tested for its ability to lower intraocular pressure (IOP) in patients with glaucoma or ocular hypertension. The trial achieved its primary efficacy endpoint demonstrating non-inferiority of Rhopressa compared to timolol, the most widely used comparator.
Over the course of the week, shares rose 71%, and year to date shares are up only 3%. Shares of Aerie were at $27.24 on Friday. The stock has a consensus analyst price target of $44.29 and a 52-week trading range of $8.84 to $35.89.
Can-Fite BioPharma Ltd. (NYSEMKT: CANF) is building momentum with its most recent designation from the U.S. Food and Drug Administration (FDA). The company announced the FDA has granted the drug candidate CF102 Fast Track designation as a second line treatment for hepatocellular carcinoma (HCC), the most common form of liver cancer. CF102 had already received the FDA’s Orphan Drug designation. Phase 2 studies are already underway for this indication in the United States, Europe and Israel. According to Global Industry Analysts, the global market for liver cancer drugs is projected to exceed $2 billion in 2015.
Over the course of the week, shares rose 83% to Thursday’s close, and year to date shares are down 6%. Can-Fite shares were at $6.09 on Friday within the 52-week trading range of $1.46 to $7.74. The stock has a consensus analyst price target of $3.65.