Looking into the biotech market today, things aren’t looking too great. Nonetheless, there are still several opportunities that are popping up. Today, we’ll talk about 3 stocks I’ve found in biotech that seem to be presenting strong opportunities for growth. So, let’s get right to it…
Idera Pharmaceuticals Stock Climbs On New Coverage
Idera Pharmaceuticals Inc (NASDAQ: IDRA)
Idera Pharmaceuticals stock is having a great day in the market today after coverage of the stock was initiated at JPMorgan Chase & Co. The research group gave IDRA an “Overweight” rating; insinuating strong upward growth potential. JPMorgan hasn’t been the only analyst to weigh in on IDRA recently either. The company has been the subject of several other research reports; including one that reiterated an “outperform” rating from Cowen and Company. All in all, this is a stock that has seen a decent uptrend for about a month now. With the new upgrade, it will be interesting to see if the stock price can break resistance at $3.84. If it does, we can expect the breakout to be a great one; so, it’s well worth watching IDRA closely.
MannKind Corporation Is Seeing Gains Again
MannKind Corporation (NASDAQ: MNKD)
MannKind has had an interesting time in the market recently. However, I think the stock is presenting a great opportunity for those looking for long term gains. For detailed information, click here to read a long form post I wrote about MNKD earlier today. In short, I think we’re in for long term gains. The reasons include an expectation of strong growth from Afrezza as marketing starts, strong management additions, and technosphere testing which will likely lead to more profitable products from the company. All in all, I’m expecting to see long term gains; and after recent declines, the stock is down from over $7 per share; leading to a great buying opportunity for those that want to get in on the frenzy.
Neurometrix Stock Climbs On Commercial Launch Of Quell
Neurometrix Inc (NASDAQ: NURO)
Neurometrix stock hasn’t been doing well in the market recently. However, I think that’s about to change. Today, the company announced that it will be starting the commercial launch of Quell; the first device of its kind. Quell is an over-the-counter pain relief device designed as a non-invasive way to stimulate nerves and provide a way to relieve chronic pain without the use of drugs. The device has been tested to treat diabetic neuropathy, sciatica, osteoarthritis and fibromyalgia pain. With the commercial launch of Quell, we can expect to see gains in the future.
Do You Know Of Any Others?
If you know of any other strong opportunities in biotech, please let us know in the comments below!