Health and Healthcare
Top 6 Biopharma Movers of the Past Week
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Over the past week, a few biotech companies made impressive runs. These moves were the result of clinical trial results, U.S. Food and Drug Administration (FDA) decisions and more. The companies 24/7 Wall St. has picked stood out from the rest with positive news guiding them last week. We have included information about each company, as well as recent trading activity and the consensus price target.
Genocea Biosciences
Early on Thursday, Genocea Biosciences Inc. (NASDAQ: GNCA) soared, following the release of positive data from its mid-stage genital herpes clinical trial. The company announced positive 12-month efficacy data from its Phase 2 dose optimization trial evaluating GEN-003 for the treatment of genital herpes. The company believes that these results highlight the potential of GEN-003 to significantly enhance the genital herpes treatment landscape. Also considering the physical and psychological impact of this disease, both patients and treating physicians would be eager to use an effective treatment that more conveniently improves control of outbreaks.
Shares of Genocea rose 95% over the course of the week to a high of $7.67 but slid back down by the end of the week. Year to date, the shares are up around 47%. The stock closed Friday at $5.95. The consensus price target is $17.83, and the 52-week range is $2.56 to $16.18.
Opko Health
Following the release of a complete response letter (CRL) from the FDA, Opko Health Inc. (NYSE: OPK) saw its shares slide in Wednesday’s regular trading session. The company announced that the FDA has issued a CRL regarding the company’s New Drug Application (NDA) for Rayaldee (calcifediol) as a treatment for secondary hyperparathyroidism in patients with stage 3 or 4 chronic kidney disease and vitamin D insufficiency. The FDA indicated in the CRL that observations of deficiencies at Opko’s third-party contract manufacturer were issued on March 25, as a result of an FDA field inspection initiated on March 14.
During the week, shares fell 8%. Shares are up over 3% year to date. The stock closed Friday at $10.41. It has a consensus price target of $16.60 and a 52-week range of $7.12 to $19.20.
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