In The Market Today: Verastem (VSTM), Twitter (TWTR), Gilead Sciences (GILD), MannKind (MNKD), Novavax (NVAX)


Verastem Stock Tumbles After Stopping Study

Verastem Inc (NASDAQ: VSTM)

Verastem is going through an incredibly rough time at the moment. The company announced yesterday that it would be putting an end to the study of it’s leading mesothelioma cancer treatment candidate known as VS-6063. Unfortunately, the preliminary results of the study weren’t positive enough to warrant future studies of the treatment. As a result, the stock tanked yesterday and that movement is being followed by declines today. A big concern among investors is the fact that the management at VSTM has been incredibly quiet with regard to what it plans on doing next. Only time will tell, but for now, things aren’t looking good.

Twitter Continues Struggling!

Twitter Inc (NYSE: TWTR)

Twitter has been having a rough time over the past several months. The company simply can’t seem to get new users onto the platform which caused the previous CEO of the company to leave. Now, months later, they are still struggling to find a new CEO. Investor concerns over the CEO search were exacerbated by comments made by Anthony Noto with regard to users. Essentially, investors can’t expect the user debacle to come to an end any time soon. As a result, TWTR short interest has climbed to a 52 week high and is likely to continue doing so. Overall, TWTR needs to figure out what they’re going to do to get a solid CEO on board and put an end to the user struggles. Until this happens, we can expect to see more declines from the stock.

Gilead Sciences Enters Into Oversold Territory | This Is An Opportunity

Gilead Sciences, Inc. (NASDAQ: GILD)

Fear is taking GILD over. In my opinion, that’s a great thing for those looking for a strong opportunity. The great Warren Buffet once said that when investors are fearful, get greedy! Well, as a result of yesterday’s declines, Gilead’s PMI fell to 29.5; the stock is officially oversold! However, with so much positive news surrounding the stock, it shouldn’t be. Think about it, they just released overwhelmingly positive results from four studies, they have maintained control of the HCV market, and they are on track to become a big leader in the treatments of both HIV and hepatitis B. All in all, there’s no reason for fear to be taking over. The overall fear in the market is leading to a great opportunity!

MannKind Offers A Glimmer Of Hope

MannKind Corporation (NASDAQ: MNKD)

MannKind has been struggling in the market for quite some time now. Unfortunately, what was believed to be a blockbuster insulin, Afrezza, has all-but flopped in the marketplace. However, recent prescription data shows that week over week, Afrezza prescriptions have climbed by 24%. While they are still a drop in the bucket compared to what was expected, this does show that prescribing physicians and consumers are starting to look at the inhaled insulin in a better light. That’s great news for MNKD and its investors. Overall, I maintain my bullish opinion on the stock. While Afrezza is slow going, those who did their research expected this. The bottom line is that patients have to jump through hoops of fire to get their hands on the insulin. However, the patients that have used it seem to love it and overall sentiment surrounding the treatment is climbing. Not to mention, I think MNKD has more tricks up its sleeve with regard to technosphere than it is currently letting on. With all of that said, I’m expecting to see more slow and steady uptrends from the stock. Now is the time to get in if you ask me.

Novavax Releases Positive Data And Receives Support From The Bill & Melinda Gates Foundation

Novavax, Inc. (NASDAQ: NVAX)

Novavax should be having a great day in the market today. However, their stock continues to decline. Nonetheless, the company released positive top-line data from the Phase 2 clinical trial of its RSV F protein recombinant nanoparticle vaccine candidate. NVAX also announced that it has been awarded a grant from the Bill & Melinda Gates Foundation of up to $89 million; designed to support the development of the RSV F Vaccine. In return, NVAX has agreed that upon licensing, they will make the vaccine affordable and available in developing countries. All in all, the news surrounding NVAX is overwhelmingly positive. With that said, I’m expecting to see gains moving forward.

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