BioTech Stock News| OREX | GERN | GENE | MNKD | GALE

Biotech Stock NewsIt seems as though the bears are taking over the BioTech space today following a relatively strong week for many in the industry. Today, we’ll take a look at Orexigen (OREX), Geron Corporation (GERN), Genetic Technologies (GENE), MannKind (MNKD), and Galena Biopharma (GALE). So, let’s get right to it.

Orexigen (OREX) Stocks Still Struggling As FDA Speaks Out

Orexigen (OREX) has had a pretty interesting past few days in the market. After trading flat for quite a while, the company’s stock jumped 30% after they announced that their weight loss pill Contrave could have heart health benefits. The only problem is that the announcement came premature and the FDA made it clear that was the case. After closing the day yesterday at $8.01, the stock has fallen sharply. Currently (11:46) Orexigen stock is trading at $6.86 per share.

Outlook – Orexigen (OREX) stock will most likely close in the red today. However in the long term, I still believe it is a strong stock to own. Therefore, this may present a perfect buying opportunity.

Geron Corporation (GERN) Stock Correcting After Yesterday’s Gains

Yesterday, it seemed as though March was going to be a great month for Geron (GERN) stock prices. Yesterday, the stock jumped $1 per share to a close at $3.78 per share. Unfortunately, that doesn’t seem to be the case today. It looks as though Geron (GERN) stocks grew too much too fast and investors are starting to pull back. Currently, the stock is at $3.55 per share and seems confused as to where to go.

Outlook – Geron (GERN) stocks will most likely continue on a flat trend throughout the rest of the day. Sure there will be ups and downs, but we probably won’t see any major movements in either direction. Nonetheless, this is another great long term option; so, lows present a buying opportunity.

Genetic Technologies (GENE) Stocks Falling From Dilution But Still Looking Good

There’s been quite a bit of good news revolving around GENE. The company announced great results for it’s fund raising efforts and will be issuing new shares. So, investors are definitely interested in the asset. However, as my friends at StockTwits would be quick to tell you, dilution drives down prices. With that said, GENE is down in a big way today. After closing the day at $6.25 per share yesterday, Genetic Technologies (GENE) went on an immediate downtrend today. Currently, the stock is trading at $4.97 per share as dilution plagues it’s price.

Outlook – The news revolving around Genetic Technologies (GENE) tells us that the company is growing and investors are taking note. So, this is yet another opportunity for a low cost buy in.

MannKind (MNKD) Stocks Down For The Second Day In A Row

After Goldman Sachs downgraded the company’s stock, MannKind started on an immediate downtrend. The downgrade was for two reasons. Firstly, the company has been receiving quite a bit of pressure from diabetics to lower their prices. The other reason is prescription sales of their medications. As a result, MannKind (MNKD) stocks fell from $5.73 to $5.48 so far today (1:03) and look like they will continue falling.

Outlook – MannKind (MNKD) is on a losing streak that is most likely only short term. While the time to buy may not be until a week from now, this is definitely one to watch for a great opportunity to pick up shares in BioTech cheaply.

Galena Biopharma (GALE) Stocks Not Looking So Hot

After releasing their earning report Yesterday, Galena Biopharma (GALE) seemed to run relatively flat. This morning however, the stock started well above yesterday’s close at $2.00 per share. The upward momentum wouldn’t last long however, as the stock fell drastically through morning trading. Currently (12:08) trading at $1.95 per share, I’m not sure that this one will make it back to the green by the closing bell.

Outlook – Out of all 5 of the BioTech stocks that I’ve taken a look at GALE would be the only one that I wouldn’t feel comfortable investing in long term.

Final Thoughts

While it’s been a rough morning for BioTech, the lows most likely won’t last long for most of these stocks. In my opinion, OREX, GERN, GENE, and MNKD are all presenting great buying opportunities while GALE still has a bit more to prove before I’m sold.

What Are Your Thoughts?

Out of OREX, GERN, GENE, MNKD, and GALE, which stocks do you think will climb and which will fall? Let us know in the comments below!

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