Monday is proving to be a strong start to the week for many biotech investors. If you’re looking for strong gainers in the sector, here are three stocks that you may want to watch closely.
Humana Stock Climbs On Acquisition By Aetna
Humana Inc (NYSE: HUM)
Humana announced on Friday that it had agreed to be acquired by Aetna for $37 billion. However, markets were closed on Friday for the holiday. As a result, we’re seeing gains in the stock today. Currently (11:19), HUM is trading at $193.40 per share after a gain of 3.15% so far today. Here’s a statement from Bruce Broussard regarding the acquisition…
“Through the use of technology and integrated services to simplify the consumer experience, the combined entity will be even more effective in meeting the health needs of many more people – especially people with chronic conditions, who will benefit from Humana’s home health, pharmacy management, and data analytics programs…”
Enzon Pharmaceuticals Climbs As Earnings Approach And Short Interest Declines
Enzon Pharmaceuticals Inc (NASDAQ: ENZN)
Enzon Pharmaceuticals stock is up in a big way today as investors eagerly anticipate the company’s earnings report. Those who get in by mid-July will see dividends from earnings in early August. As a result, short interest is down sharply and investors are piling on board. Currently (11:30), ENZN is trading at $1.44 per share after a gain of 19.01% so far today. This is definitely one to watch closely because when ENZN is hot, it tends to rise fast. With that said, the stock is definitely heating up; and if you’d like to get in on the gains, you still have an opportunity. Look for pull-backs that generate great buying opportunities.
Oncolytics Biotech Stock Is Up On Presentation Announcement
Oncolytics Biotech Inc. (NASDAQ: ONCY)
Finally, Oncolytics Biotech is seeing massive gains Monday after the company announced that Dr. Devalingam Mahalingam of the Cancer Therapy and Research Centre at the University of Texas Health Science Center made a poster presentation at the ESMI World Congress on Gastrointestinal Cancer. The poster presentation covers the final results from the company’s REO 017 Phase 2 study. In a statement, Dr. Matt Coffey, COO of the company had the following to say…
“These data suggest that this drug combination can increase median overall survival, as well as generate an approximate two-fold increase in one-year survival rates, and a five-fold increase in two-year survival rates when compared to gemcitabine therapy alone as seen in historical data…the observation of clear overall survival benefit combined with apparent limited impact on progression free survival is increasingly becoming characteristic of immune-based therapeutic treatments. We are incorporating this finding into both our new and existing studies to ensure we follow OS where possible.”
All in all, the news is overwhelmingly positive and likely to lead to more gains in the future. So, this is another to watch for pull-backs that signify great buying opportunities.
Do You Know Of Any Others?
Do you know of any other biotech stocks that are gaining big? If so, let us know in the comments below!