Today is a bit of a mixed day in the biotech sector. Nonetheless, there are a few stocks in the sector that are showing rather impressive gains. With that said, here are some of the strongest stocks in biotech today, and what we can expect to see from them moving forward.
La Jolla Pharmaceutical Company Climbs On Analyst Upgrade
La Jolla Pharmaceutical Company (NASDAQ: LJPC)
La Jolla Pharmaceutical Comapny stock is having a great day in the market today after Zachs made the decision to upgrade its rating of the company’s stock. Yesterday, LJPC was upgraded from a hold rating to a buy rating with a target price of $27.00. With strong research into the development of autoimmune and inflammatory disease treatments, strong management, and a great team, it only makes sense that the stock would be upgraded. Currently (12:09), LJPC is trading at $26.99 per share after a gain of 10.12% so far today. Taking in fundamental data tells me that this one is likely to climb long term. However, after big climbs, we tend to see pull-backs. So, if you want to get in on the gains, now may be the time to start looking for pull-backs as an opportunity to enter!
Biocept Climbs As FGFR1 Amplification Testing Is Launched
Biocept, Inc. (NASDAQ: BIOC)
Biocept is another that’s having a great day in the market today. The stock is seeing gains as the result of the company’s announcement stating that it will launch its FGFR1 amplification testing in an attempt to help physicians identify patients who may be receptive to specific lung and breast cancer treatments. In a statement, Raaj Trivedi, VP of Commercial Operations at Biocept had the following to say…
“The launch of FGFR1 testing is part of our strategy to use liquid biopsy to transform the field of personalized medicine… At Biocept, we help physicians monitor resistance mechanisms and identify new targets for therapy even when tumor material from a tissue biopsy is insufficient to provide results. Our ability to use a blood sample to identify this biomarker in the setting of metastatic cancer gives clinicians and pharmaceutical partners additional therapeutic options targeting this pathway.”
As a result of the news, BIOC is up in a big way; currently (12:17), trading at $2.72 per share after a gain of 6.92% so far today. Considering the reason for the climb, I’d expect that we will see a correction tomorrow followed by more gains. So, buying tomorrow’s correction could be a very profitable concept.
Synergy Pharmaceuticals Sees The Gains It Derserves
Synergy Pharmaceuticals Inc (NASDAQ: SGYP)
I’ve been keeping a close eye on SGYP for some time now, and I’m glad to see it climbing again. A few weeks ago, the stock climbed thanks to positive results from a plecanatide study. However, a correction followed bringing the value down. To make matters worse, the Greek Debt Crisis caused more declines early this week. Nonetheless, the company has proven that plecanatide is likely to be a very profitable drug; and with the drug in the last stage of testing before an NDA is sent off, it’s getting very exciting to watch. Investors are starting to notice the potential profitability here. Currently (12:21), SGYP is trading at $8.74 per share after gaining 5.30% so far today. Given the strong product, great management, and incredibly talented team at Synergy Pharmaceuticals, I’m expecting gains to continue in the long run.
Do You Know Of Any Others
Do you know of any other strong bullish stocks in biotech? If so, let us know in the comments below!