|Healthcare Review: Orexigen Therapeutics, Medgenics, TearLab Jump, ArQule & Discovery Laboratories Fall|
|By Staff and Wire Reports|
|Wednesday, 29 August 2012 14:40|
U.S. stocks on Wednesday listed between small gains and losses in a third session of lackluster trade ahead of Federal Reserve Chairman Ben Bernanke’s speech later in the week. Several healthcare stocks are making notable news at mid day on Wednesday:
Orexigen Therapeutics, Inc. (NASDAQ:OREX) shares jumped 7.03% to $4.72 in the early hour. The 52 week trading range for the company is $1.26 - $7.73. The shares of the company surged 245% in the last one year. The company is a biopharmaceutical company focused on the development of pharmaceutical product candidates for the treatment of obesity.
Peregrine Pharmaceuticals (NASDAQ:PPHM) stock increased 3.34% to $2.45 in the morning hour. The 52 week trading range for the company is $0.39 - $3.21. The shares of the company soared 160% in the last six months. The company is a clinical-stage biopharmaceutical company that develops and manufactures monoclonal antibodies for the treatment of cancer and viral infections.
ArQule, Inc. (NASDAQ:ARQL) stock plunged 24.93% to $5.03 after the company disclosed that it was informed by its Asian partner Kyowa Hakko Kirin that it has temporarily suspend patient enrollment in its ongoing Phase 3 ATTENTION trial on the recommendation of an independent Safety Review Committee in Japan after the reporting of suspected cases of interstitial lung disease in the study.
Discovery Laboratories, Inc. (NASDAQ:DSCO) shares fell 3.73% to $3.10 in the early hour. Analysts at Stifel Nicolaus initiated coverage on shares of Discovery Laboratori (NASDAQ: DSCO) in a research report issued to clients and investors last week. The firm set a “buy” rating and a $5.00 price target on the stock.
TearLab Corporation (USA) (NASDAQ:TEAR) stock increased 1.85% to $3.30 after Canaccord Genuity initiated coverage on TearLab with a Buy and they set price target at $6.00. The 52 week trading range for the company is $0.78 - $4.88. The shares of the company soared 170% in the last one year.
Amarin Corporation plc (ADR) (NASDAQ:AMRN) shares gained 1.08% to $13.01 after the company said that additional data from its pivotal MARINE Phase 3 clinical trial are now available electronically through the Journal of Clinical Lipidology. The MARINE trial was a Phase 3, multicenter, placebo-controlled, randomized, double-blind, 12-week study.
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