MannKind Beats Earnings Expectations & Excites Investors With Great News
MannKind Corporation (NASDAQ:MNKD)
MannKind is having an incredible day in the market today after releasing a slew of positive news. First and foremost, the company beat earnings expectations; producing a loss of $0.07 which was $0.01 ahead of earnings expectations. However, that wasn’t even the most positive of the news. The company also announced that it has appointed a new Chief Medical Officer by the name of Dr. Raymond Urbanski. Dr. Urbanski has extensive experience in the industry. Finally, investors found the earnings call to be incredibly impressive as the company announced several key pieces of data; one of which was that they are getting closer to Afrezza approval in Europe. All in all, the news that was released today was overwhelmingly positive; sending MNKD soaring in the market. Shortly following the earnings call, MNKD was up more than 9%. Currently (12:48), the stock is trading at $4.06 after a gain of 2.01% so far today. Considering the reason for the gains I’m expecting to see more growth as investors have plenty of reasons to be excited!
Inovio Pharmaceuticals Gains On Earnings & AstraZeneca Agreement
Inovio Pharmaceuticals is also having an incredible day in the market today after announcing positive earnings and more solid news. While earnings were better than expected, that wasn’t the big news for Inovio today. Instead, investors focused on a deal with MedImmune; the global biologics research and development arm of AstraZeneca. In the deal, MedImmune agreed to acquire exclusive rights to INO-3112 in exchange for a $27.5 million up front payment as well as the potential for $700 million in future payments based on developmental and commercial milestones. As a result, Inovio Pharmaceuticals is currently (12:58) trading at $8.11 per share after a gain of 24.96% so far today. Considering the reason for the gains, I’m expecting to see more and more positive news coming out of this stock. So, this is definitely one to keep an eye on.
Amarin Sees Declines Today… Real Bulls Aren’t Concerned
Amarin Corporation plc (ADR) (NASDAQ: AMRN)
Amarin had a rough start to trading this morning; starting the day off with declines. However, the bulls weren’t concerned as they watched the stock move back up to break even so far (1:00). The reality is that Amarin saw massive gains on Friday as the result of a court decision to allow the company to inform physicians of cardiovascular benefits associated with its flagship product, Vascepa. As a result, we saw double digit gains. However, as the market tends to move through overreactions, we saw a slight decline this morning; bringing it down to a more manageable point before gains started again. So far, AMRN has broken even for the day; however, even if declines start again, I don’t think that bulls will be very concerned. The bottom line is that with the new court ruling, the company will be able to promote cardiovascular benefits to physicians; ultimately leading to an increase in Vascepa sales and long term gains in the stock.
Gilead Sciences Continues Upward Movement
Gilead Sciences, Inc. (NASDAQ: GILD)
Gilead Sciences had a rough day on Thursday, followed by a relatively flat day on Friday. However, as I mentioned in my post yesterday, I wasn’t very concerned. The bottom line is that any growing stock is going to see slight dips here and there. Nonetheless, as I predicted in the post, gains started back up for GILD and are likely to continue. When it comes to Gilead Sciences, we’re talking about a company that has proven that even in the face of strong competition, they can maintain control over a tough market. Also with regulatory approval in Japan, sales of Harvoni are likely to continue to climb. With that said, we can expect to see more positive news out of Gilead Sciences moving forward. Currently (1:10), GILD is trading at $116.14 per share after a gain of 1.49% so far today.