|Healthcare Review: Zogenix, Rexahn Pharmaceuticals, Prana Biotechnology, Myriad Genetics, Peregrine Pharmaceuticals|
|By Staff and Wire Reports|
|Tuesday, 11 March 2014 14:54|
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.