Over the past week, a few biotech companies made absolutely massive runs. 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.
The companies 24/7 Wall St. has picked stood out from the rest with incredible gains or losses over the course of the past week. We have included information about each company, as well as recent trading activity and the consensus price target.
Leading the bulls in last Tuesday’s regular trading session, Aeterna Zentaris Inc. (NASDAQ: AEZS) announced that it has finalized of a co-marketing agreement with Armune BioScience that will allow it to promote Armune’s Apifiny, the only cancer specific, non-PSA blood test for the detection of prostate cancer.
Under the co-marketing agreement, Aeterna Zentaris will promote Apifiny to designated medical professionals in its U.S. territories and will receive a commission for each test performed resulting from its targeted promotion.
Shares of Aeterna closed out Friday at $7.94, with a consensus analyst price target of $12.00 and a 52-week trading range of $3.19 to $89.00. Over the course of the week shares dropped 27%, while year to date shares are down 86%.
Anavex Life Sciences
On Monday, Anavex Life Sciences Corp. (NASDAQ: AVXL) announced the publication of further data for Anavex 3-71 (formerly AF710B) in the peer-reviewed scientific journal Neurodegenerative Diseases. The data provide evidence for a positive, more upstream effect on reducing synaptic loss, amyloid and tau pathologies and neuroinflammation, which is potentially beneficial for the treatment of Alzheimer’s and other neurological diseases.
Shares of Anavex ended the week at $6.33. The consensus analyst price target is $10.16, and the 52-week range is $3.16 to $14.84. Over the course of the week shares increased 16%, while they are down 32% year to date.