Today is a big day for biotech stocks with many of them in the green. However, there are some that are far outpacing others. I’ve found a few stocks in biotech that are growing rapidly today and may lead to more opportunity down the road. Here they are…
Synergy Pharmaceuticals Climbs On Gastrointestinal Study Results
Synergy Pharmaceuticals Inc (NASDAQ: SGYP)
In early morning today, Synergy Pharmaceuticals provided the results for a gastrointestinal study that revolved around placenatide. In the study, patients were given placenatide in a 3 milligram dose; with less than 6% of patients experiencing diarrhea as a side affect. That proved to be far better than what analysts expected and what we saw from Linzess. All in all, investors proved to be incredibly happy about the news. Currently (12:55), SGYP is trading at $7.45 per share after a gain of 60.56%. I’m expecting that following the positive news, we will continue to see growth. So, it may be time to start looking for pull backs that present buying opportunities.
Kythera Biopharmaceuticals Stock Is Up On Acquisition News
Kythera Biopharmaceuticals Inc (NASDAQ: KYTH)
Kythera Biopharmaceuticals stock is having a great day in the market today as well. In the morning, the company announced that it is being acquired by Allergan PLC in a cash and stock deal that works out to be about $75 per share. As a result, the stock climbed. Currently (12:58), KYTH is trading at $74.21 per share after a gain of 13.49% so far today. The value of the stock is still a bit below the value of the acquisition, so there still may be room for profit. If you’re interested, do a bit of research on the acquisition, Allergan stock, and decide if now is the time to get in for gains.
ZIOPHARM Oncology Stock Continues Climbing On High Volume
ZIOPHARM Oncology Inc. (NASDAQ: ZIOP)
ZIOPHARM Oncology stock has been climbing all week on high volume, and that trend isn’t slowing down today. Over the past 3 months, ZIOP has had an average daily volume of 3,991,553 according to data from CNN Money. However, today 3,444,650 shares have traded hands so far (1:03). With volume at incredibly high levels for the past 3 days, it’s clear that investors are falling in love with this stock. So, I’m not expecting the positive trend to reverse any time soon. With that said, this may be another one to start looking for pull backs in for great entrance opportunities.
Arrowhead Research Corp Stock Gains On German Clearance
Arrowhead Research Corp (NASDAQ: ARWR)
Finally, Arrowhead Research Corp is another in biotech that’s having a great day in the market today. The growth comes as the company announced that they have received clearance for further HBV testing in Germany. Currently, ARWR is trading at $ per share after a gain of %. With the new news, I’m expecting to see more bullish movement from ARWR moving forward. So, once again, look for dips as possible buying opportunities.
Do You Know Of Any Others?
Do you know of any other biotech stocks that are growing today and likely to continue bullish trends? If so, let us know in the comments below!