Lexicon Pharmaceuticals Declines After Yesterday’s Gains
Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX)
Lexicon Pharmaceuticals had an incredible day in the market yesterday after releasing top-line data from its phase 3 study of telotristat etiprate. The study looked into the efficacy and tolerability with regard to the medication as a treatment for cancer patients with carcinoid syndrome. Upon the data release, we found out that LXRX met its primary endpoint and will be heading for a new drug application with the FDA. As a result, the stock soared by more than 50% in a single trading session. Unfortunately however, we’re seeing declines today. As a matter of fact, LXRX is currently (1:57) trading at $12.15 per share after a loss of 10.66% so far today. However, I’m not concerned about today’s declines. The reality is that price movement in the market tends to happen through a series of overreactions. Therefore, we’re simply seeing a reaction to yesterday’s gains; bringing the value down to a more sustainable rate.
Synergy pharmaceuticals Is Ready To Climb
Synergy Pharmaceuticals Inc (NASDAQ: SGYP)
Synergy Pharmaceuticals is a stock that I’ve been watching for quite some time now; and I have to say, it’s one of my favorite stories at the moment. Recently, the company released strong data from its final phase 3 study looking into plecanatide. The data proved to be overwhelmingly positive and the company is now working to move toward a new drug application of their own. I wrote an article earlier today looking into both the technical and fundamental aspects of SGYP and found that this one is gearing up for massive gains. To read it, click here. Synergy Pharmaceuticals is currently (2:01) trading at $8.76 per share after a loss of 12.12% so far today. However, I’m not concerned at all as I think a strong bullish breakout is heading our way!
Regeneron Pharmaceuticals Climbs On Solid Earnings
Regeneron Pharmaceuticals Inc (NASDAQ: REGN)
Regeneron Pharmaceuticals is having a great day in the market today after releasing their second quarter earnings report and blowing away expectations with regard to EPS and revenue. In terms of earnings per share, the company reported $2.12. Revenue came in at $998.6 million. Both earnings and revenue towered above analyst expectations of $1.81 per share and $891 million respectively. The company also increased figures with regard to its full year guidance by 10 percentage points; insinuating massive growth potential. As a result of the positive news, REGN is currently (2:05) trading at $584.53 per share after a gain of 5.46% so far today. With strong earnings and other strong data in the report, I’m expecting to see more growth from this one as we move forward.
Gilead Sciences Stalls…Not For Long!
Gilead Sciences, Inc. (NASDAQ: GILD)
Finally, we have Gilead Sciences; arguably the best success story in the biotech space today. As I’ve mentioned in several previous posts, I believe that GILD is incredibly undervalued; and while we’ve seen growth recently, it has unfortunately stalled today. Currently (2:07), GILD is trading at $119.00 per share after a loss of 0.51% so far today. However, I’m not at all concerned about declines. Gilead’s fundamentals are strong and will likely continue with the upward momentum tomorrow.