Today In Biotech: Omeros (OMER), AVEO Pharmaceuticals (AVEO), Synergy Pharmaceuticals (SGYP), Gilead Sciences (GILD

Omeros Stock Is Up On Positive Phase 2 Data

Omeros Corporation (NASDAQ: OMER)

OMER is having an absolutely incredible day in the market today after announcing positive data from its phase 2 study of OMS721. The treatment is designed to combat thrombotic microangiopathies; a rare group of life-threatening clotting disorders. The data released today showed that two patients demonstrated a 47% increase in mean platelet count and an 86% decrease in red blood cell fragmentation. Ultimately, the positive news led to an incredibly bullish run. Currently (2:24), OMER is trading at $23.25 per share after a gain of 59.80% so far today. While we’re likely to see declines tomorrow, this stock is also likely to generate great opportunities for gains moving forward.

AVEO Pharmaceuticals Declines Won’t Last Long

AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO)

AVEO Pharmaceuticals had an incredible day in the market yesterday; gaining more than 50% by mid-day. However, the story seems to be quite a bit different today. Currently (2:26), AVEO is trading at $1.62 per share after a loss of 4.70% so far today. Nonetheless, the bulls really aren’t concerned. As I’ve mentioned several times in the past, price movements in the market tend to happen through a series of overreactions; and that’s exactly what is causing the declines. Investors overreacted yesterday which pushed AVEO higher than it should have been. So today, we’re seeing a correction that’s bringing the stock down to a more sustainable price. Nonetheless, we’re likely to see gains moving forward.

Synergy Pharmaceuticals: The Ultimate Struggle Between Bulls & Bears

Synergy Pharmaceuticals Inc (NASDAQ: SGYP)

Synergy Pharmaceuticals is unfortunately continuing down a bearish trend. At this point, it seems as though the bears simply can’t let go of earnings. While SGYP did miss earnings, I wrote a post earlier today discussing why earnings really don’t matter at this point. Ultimately, SGYP is still in clinical stages and hasn’t had a product approved quite yet. Nonetheless, the company has produced incredibly solid data and is turning into a prime candidate for an acquisition. Overall, there are many reasons to be bullish on SGYP and only one to be bearish. With that said, I’m expecting a reversal in the momentum on the stock when either a bigger player in biotech decides to acquire the company or SGYP submits its NDA for plecanatide. So, the declines we’re seeing are only opening the door to getting in on gains at a discount.

Gilead Sciences Should Be In Your Portfolio

Gilead Sciences (NASDAQ: GILD)

I’ve been saying this all year. Ultimately, Gilead Sciences has proven to be an incredible stock. Although investors were concerned about the HCV franchise when AbbVie stepped in, those concerns proved to be null when the company released its earnings report. Ultimately, GILD is still the leader with regard to HCV treatments, has received regulatory approval in Japan, and has an incredible record for beating earnings expectations. So, if it’s not in your portfolio already, you may want to strongly consider adding it!

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