If you’re looking for opportunities in the biotech market today, you’re not going to have to look very hard. Here are three stocks in the biotech space that I believe are well worth watching…
Synergy Pharmaceuticals Stock Is Likely To Climb
Synergy Pharmaceuticals Inc (NASDAQ: SGYP)
Synergy Pharmaceuticals stock had an incredible week last week following the release of plecanatide study results. However, this week hasn’t been so great for the stock. Nonetheless, I’m not concerned at all about what we’re seeing. As a matter of fact, it’s quite exciting. When looking at price movements in any stock, it’s easy to see that overreactions bring values up higher than they should be. Then, a correction happens followed by more strong gains. That’s exactly what’s happening with SGYP. The stock is correcting after big climbs; looking for new support. I’m expecting for that support to hit somewhere around $8 per share or just below. So, keep a close eye on this one as it’s currently trading just pennies above the point where it’s likely to climb again. This could prove to be a great opportunity for many!
MannKind Corporation Stock Is Destined For Growth
MannKind Corporation (NASDAQ: MNKD)
MannKind Corporation stock has traded relatively flat over the past week or so. Nonetheless, I’m expecting for this to change in a big way within the coming weeks. When gauging MannKind’s growth, it’s important to take factors of Afrezza into account. After all, when Goldman Sachs downgraded the stock, it was because of Afrezza; leading to declines. Also, the increases we’ve seen since were caused by a Jefferies survey showing that 65% of responding endocrinologists not only know about the inhaled insulin, but plan on using it in the future. With that said, Afrezza will generate a key catalyst for MNKD in the coming weeks. Currently, the inhaled insulin is in the pre-launch phase. However, the Direct-to-Consumer phase is just weeks away. When this phase is active, we’re going to see an increase in sales and investors are likely to get incredibly excited. So, keep a close eye on this one to ensure that you have an opportunity to get in on the gains! Also, keep in mind that MNKD represents far more than Afrezza. Here are other reasons we’re likely to see growth from the stock!
Amarin Corporation Stock Looks To Break Resistance
Amarin Corporation plc (ADR) (NASDAQ: AMRN)
Amarin Corporation stock has had an incredibly strong week so far; producing solid gains yesterday, and starting today off strong. Resistance on the stock is currently at $2.63 per share; with support not too far behind. As support and resistance continue to become closer and closer together, we can expect a breakout. In this particular case, I’m expecting for the breakout to be incredibly bullish. So, watch the chart. If the stock breaks the $2.63 mark, we’re likely to see incredible gains. With relatively strong volume today, I’m not sure that the break is too far off!
Do You Know Of Any Others?
Do you know of any other stocks in the biotech sector that are generating opportunities? If so, let us know in the comments below!