Healthcare Review: Zogenix, Rexahn Pharmaceuticals, Prana Biotechnology, Myriad Genetics, Peregrine Pharmaceuticals Print E-mail
By Staff and Wire Reports   
Tuesday, 11 March 2014 14:54
U.S. stocks edged lower in chopping trading Tuesday, as investors paused to assess recent U.S. economic data and continued uncertainties surrounding Ukraine. The Dow Jones Industrial Average lost 38 points, or 0.2%, to 16380. The S&P 500 index eased five points, or 0.3%, to 1872, while the Nasdaq Composite Index gave up seven points, or 0.2%, to 4327. While the S&P has been notching record highs and investor sentiment is bullish, traders say long-term investors for the most part haven't been making significant moves.

Zogenix ($ZGNX) trades up 10% today on double normal volume recouping all of Thursday's loss. Oppenheimer rates it a Buy with a $5 price target. Consensus revenue estimates for 2014 and 2015 are $76M and $140M, respectively.

Nano cap biotech Rexahn Pharmaceuticals ($RNN) enjoys a pop in today's trading. Shares have eased a bit from the intraday high of $1.47, but are still up ~9% at $1.36.The firm disclosed initial results from its Phase 1 clinical trial of Supinoxin (RX-5902). Three patients have received two - six cycles of treatment. All doses were well tolerated. Some observers perceive the action as proof of investors' overexuberance with all things biotech.

Prana Biotechnology ($PRAN) is set to join the S&P/ASX 300 Index on March 21 following a quarterly review by Dow Jones. The S&P/ASX 300 is adjusted every quarter to reflect Australia's largest 300 companies by market cap. Dow Jones decision comes after Prana's valuation surged to over $415M.Entrance to the S&P/ASX 300 will expose Prana to a wider range of investors.

Peregrine Pharmaceuticals ($PPHM) presents data from animal studies that support the potential of the company's phosphatidylserine (PS) targeting antibodies to overcome immune suppression and boost anti-tumor activity. Peregrine's lead PS-targeting antibody, Bavituximab, is in Phase III trials of patients with second-line non-small cell lung cancer. PS is an "immune checkpoint" that helps boost tumor immunity.

Shares of Myriad Genetics ($MYGN) are down on probable profit-taking after its recent 96% run-up from the December 30 low of $20.02.12 of 18 analysts rate the company Hold, one Sell and five Buy. Consensus estimates for Q1 and 2014 are EPS $0.45/share on revenues of $172M and $2.16/share on revenues of $752M, respectively. 441 mutual funds have positions, up from 411 a year earlier.




"Featured Content" profiles are meant to provide awareness of these companies to investors in the small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. BiomedReports is not paid or compensated by newswires to disseminate or report news and developments about publicly traded companies, but may from time to time receive compensation for advertising, data, analytics and investor relation services from various entities and firms. Full disclosures should be read in the 'About Us Section'.

Add this page to your favorite Social Bookmarking websites
Digg! Reddit! Del.icio.us! Mixx! Google! Live! Facebook! Technorati! StumbleUpon! MySpace! Yahoo!

blog comments powered by Disqus
 

Newsletter