Today In Biotech: Palatin Technologies (PTN), Omeros Corporation (OMER), Biocept (BIOC), MannKind (MNKD), Synergy Pharmaceuticals (SGYP)


Palatin Technologies Climbs As Female Viagra Is Approved

Palatin Technologies, Inc. (NYSEMKT: PTN)

Palatin Technologies is having a great day in the market after Sprout Pharmaceuticals received FDA approval for Addyi; a female sexual dysfunction medication that’s being referred to as “female Viagra”. While Palatin Technologies is in no way connected to Sprout Pharmaceuticals, . That’s because Palatin is currently in the process of phase 3 studies for their own medication that’s designed to treat female sexual dysfunction. As a result, PTN is having a great day in the market; currently (2:19) trading at $0.98 per share after a gain of 4.26% so far today. In early morning trading PTN was up by more than 20% before a correction ensued. With that said, I don’t think we’re going to see the price drop much further than it has already. Therefore, I’m expecting to see gains continue from here.

Omeros Corporation Is Having A Rough Day | Gains Will Continue Soon

Omeros Corporation (NASDAQ: OMER)

Omeros Corporation is having a pretty rough day in the market today. However, as I mentioned in a post earlier today, investors really aren’t concerned about today’s declines. Yesterday, Omeros announced phase 2 study data from it’s recent study looking into OMS-721. OMS-721 is designed to treat patients with thrombotic mocroangiopathies; a rare group of life-threatening clotting disorders. The study data showed that OMS-721 was not only effective, but well tolerated. As a result, the company’s stock grew by well over 70%. With that in mind, the declines today, while they may seem relatively large, really aren’t much of a concern. This is actually normal market movement that I’ve explained time and time again on other stocks. The reality is that market movement tends to happen through a series of overreactions. So, while gains were warranted yesterday, the level of gains created was definitely an overreaction that is being corrected today. However, after the correction, we should see a continuation of upward momentum.

Biocept Is Having An Incredible Day Today

Biocept, Inc. (NASDAQ: BIOC)

Biocept is having a great day in the market today after HC Wainwright made the decision to initiate coverage on the stock. Yi Chen was the analyst behind the coverage; rating Biocept a “buy” and giving the stock a target price of $4. Chen pointed out that liquid biopsies are “less invasive and less expensive” than tissue biopsies and the fact that BIOC is working on creating tests for additional biomarkers. The analyst also expects sales to move relatively quickly; offering the following statement…

Since Biocept has recently launched multiple tests targeting multiple cancer sites, we expect sales from commercial cases to continue to ramp up quickly…”

Biocept is currently (1:48) trading at $2.10 per share after a gain of 7.15% so far today.

MannKind Is Struggling: Not For Much Longer

MannKind Corporation (NASDAQ: MNKD)

Unfortunately, MannKind Corporation is continuing down a very bearish path. However, the bulls know that gains are coming soon. Therefore, declines continue to present buying opportunities. While sales of Afrezza aren’t quite what analysts want to see, the company did produce better than expected earnings, added a new CMO to their team, is getting very close to regulatory approval in Europe, and is nearing the start of the Direct to Consumer phase of marketing. For all of these reasons, I maintain my bullish outlook on the stock and continue to expect growth in the long run.

Synergy Pharmaceuticals Finally Gets Love

Synergy Pharmaceuticals Inc (NASDAQ: SGYP)

Synergy Pharmaceuticals has been having a rough time in the market lately after producing a wider than expected loss for the second quarter. However, the stock is finally seeing gains today. Currently (2:52), SGYP is trading at $7.49 per share after a gain of 1.35% so far today. In my opinion, this is a stock that’s well worth a bullish outlook. While earnings were a miss, earnings shouldn’t be a concern at this point since the company has no approved products. However plecanatide data is opening the doors. First and foremost, we know that the company intends on submitting a New Drug Application; which is likely to be an incredibly positive catalyst. Beyond the NDA, SGYP is a prime candidate for an acquisition; and many investors are speculating that they will be purchased relatively soon. No matter if a NDA or an acquisition happens first, this stock is destined for growth!

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