The US stock market has taken a beating recently, with biotechs taking the brunt of the punishment after comments made by Hillary Clinton. However, today is a relatively green day across the board, and there are several biotech stocks that are making a comeback. Here are 5 biotechs that are making a comeback that’s well worth paying attention to…
Novavax Finally Sees The Gains It Deserves
Novavax, Inc. (NASDAQ: NVAX)
Novavax is having an incredible day in the market today; and it’s well-deserved. Yesterday, NVAX announced top-line data from the Phase 2 study of its RSV F Vaccine candidate. The results showed improved antibodies, prompting the soon to come launch of two Phase 3 studies. Also, NVAX announced that it has been awarded a grant of up to $82 million from the Bill & Melinda Gates Foundation for the further development of the vaccine. All in all, the news the company produced yesterday was incredibly popular. However, the stock continued to fall. Nonetheless, we’re seeing a strong reversal today, giving NVAX the gains it deserves. Currently (12:03), NVAX is trading at $7.10 per share after a gain of 10.76% so far today.
Horizon Pharma Starts To Recover
Horizon Pharma PLC (NASDAQ: HZNP)
Horizon Pharma has had a rough time in the market recently. However, it seems as though the stock is finally starting to reach support. Currently (12:24), HZNP is trading at $18.37 per share after a gain of 9.28% so far today on high volume. On an average day, 3.55 million shares of HZNP trade hands. However, so far today, that number is 4.81; about double the normal trading volume on the stock. Today’s gains come amid a hostile takeover attempt of Depomed (NASDAQ: DEPO). Horizon believes that Depomed is misleading shareholders about a recommendation report from an independent shareholder advisory firm and is planning a continuation of its takeover attempt. This is definitely going to be one to watch!
Opexa Therapeutics Gains On Heavy Volume
Opexa Therapeutics Inc (NASDAQ: OPXA)
Over the past couple of days, Opexa Therapeutics has been having a rough time in the market. This was the result of the board’s approval of a one for eight reverse stock split. However, today, the stock is starting to recover in strong volume. Currently (12:32), OPXA is trading at $3.02 per share after a gain of 24.20%. On an average day over the past 50 days, 48,970 share of the stock trade hands. However, today so far 833,284 shares have traded hands. OPXA is an incredibly strong company that has been receiving bullish ratings from several analysts lately. So, if this one’s not on your watch list at the moment, you may want to reconsider.
Gilead Sciences Starts Heading In The Positive Direction
Gilead Sciences, Inc. (NASDAQ: GILD)
Gilead Sciences has had a tough year. In the beginning of the year, the stock declined as investors proved to be concerned about ABBV stepping into the HCV market. However, GILD has maintained it’s control over the market and continued to produce positive earnings reports. Then, more recently, Hillary Clinton made comments about the price of prescription drugs for chronically ill patients; driving GILD down further. At this point, GILD is an incredible stock that is oversold and going for a very low price. So, if you’re looking for a strong opportunity in the biotech space, look no further than Gilead Sciences. Currently (12:37), GILD is trading at $97.66 per share after a gain of 1.73% so far today.
Valeant Pharmaceuticals Begins To Recover
Valeant Pharmaceuticals Intl INC (NYSE: VRX)
Valeant Pharmaceuticals tanked on both Monday and Tuesday after House Democrats requested a subpoena on the company over the decision to raise the prices of two of its heart health drugs. House Democrats want the company to explain the reason the pricing of Isuprel and Nitropress have increased 212% and 525% respectively since the company purchased the rights to the drugs in February. However, today, the stock is starting to recover. Currently (12:42), VRX is trading at $168.90 per share after a gain of 6.84% so far today. However, I don’t think we’ve come anywhere close to the end of the battle between VRX and House Democrats. So, keep a close eye on this one.
[Image Courtesy of The Cheat Sheet]