Today hasn’t been the best day for US stocks; especially in the biotech space. Unfortunately, when looking at the biotech sector, we’re seeing a sea of red. However, there are a few stocks that are doing well regardless of today’s conditions in the market. Here are some of the biggest gainers in biotech today and what we can expect from them moving forward…
Synergy Pharmaceuticals Stock Is Moving Up Again!
Synergy Pharmaceuticals Inc (NASDAQ: SGYP)
Synergy Pharmaceuticals stock had a relatively rough start to the week this week in the market. After climbing dramatically last week on the release of plecanatide data, we saw a bit of a correction on Monday and Tuesday. However, today we’ve seen another reversal as the stock has finally reached support. Earlier today, it was up more than 6%; however currently (1:34), SGYP is trading at $8.35 per share after a gain of 2.83% so far today. Nonetheless, I’m expecting to see more gains in the future. The reality is that there’s a good reason for growth on the stock; plecanatide is likely to become incredibly profitable in the future. So, keep your eye out for pull backs and buying opportunities if you’d like to get in on the growth.
Catalyst Pharmaceutical Partners (CPRX) Stock Climbs On TD Study Data
Catalyst Pharmaceutical Partners, Inc. (NASDAQ: CPRX)
Catalyst Pharmaceutical Partners stock is climbing today following the release of top-line data from their most recent study into an experimental treatment for Tourette’s Disorder known as CPP-109. The study looked into the effectiveness of the compound in patients with Tourette’s Disorder for whom other treatments didn’t prove to be effective. The data released showed that CPP-109 was able to reduce ticks by about 25%, but had now affect on the underlying condition causing the ticks. Nonetheless, the company remains optimistic and will use the data to continue working to find a way to treat the ailment. All in all, the data was positive and investors are happy. As a result, CPRX is currently (1:40) trading at $4.07 per share after a gain of 2.03% so far today; and is likely to keep heading in the upward direction.
Rockwell Medical Stock Is Up On High Volume
Rockwell Medical Inc (NASDAQ: RMTI)
Rockwell Medical stock is having a great day today; gaining on high volume. According to NASDAQ, the average daily volume on the stock over the past 50 days has been 620,202. However, today RMTI has traded hands 1,138,671 times. It’s my opinion that the increased volume and climb in value is the result of recent overwhelmingly bullish comments from Oppenheimer after meeting with Rockwell Medical management earlier in the week. Considering the activity we’re seeing and the reason for the activity, I’m expecting to see long term bullish trends. So, now may be the time to start looking for pull backs and entrance opportunities.
Vanda Pharmaceuticals Stock Climbs On Positive Data Release
Vanda Pharmaceuticals Inc. (NASDAQ: VNDA)
Vanda Pharmaceuticals stock is up today after a presentation in which positive results from the long-term maintenance REPRIEVE clinical study were provided. The presentation took place at the 2015 American Society of Clinical Pharmacology Annual Meeting in Florida. According to the presentation, the study demonstrated the ability of Fanapt® to prevent relaps or impending relaps in adult patients with schizophrenia. In the presentation, VNDA showed that 79.6% of patients treated with Fanapt® remained relapse free; compared to 36.6% of patients treated with the placebo. Mihael H. Polymeropoulos, MD, the CEO of VNDA had the following to say about the results…
“We are delighted with the results of the REPRIEVE study presented today at the ASCP annual meeting….We believe these results underscore the potential benefits of Fanapt as a treatment alternative for adult patients living with schizophrenia.”
All in all, investors were excited about the positive news; ultimately pushing the value of VNDA up. Currently (1:55), the stock is trading at $13.60 per share after a gain of 5.42% so far today.
Nektar Therapeutics Stock Is Up On Incredibly High Volume
Nektar Therapeutics (NASDAQ: NKTR)
Finally, Nektar Therapeutics stock is up today in a big way on high volume. According to NASDAQ, the average volume on the stock over the past 50 days has been 1,643,866. However, so far today, 4,801,801 shares have traded hands; and that number is growing rapidly. It’s also important to mention that the 200 day moving average on the stock is incredibly bullish…insinuating that more gains are to come. So, keep an eye on this one for pull backs and entrance opportunities!
Do You Know Of Any Others?
Do you know of any other big gainers in biotech? If so, let us know in the comments below!