Generic Drugs Stocks Technical Reports -- Mylan, Horizon Pharma, Allergan, and Akorn

Sep 02, 2016, 07:40 ET from Chelmsford Park SA

NEW YORK, September 2, 2016 /PRNewswire/ --

Rising costs of brand-name medicines continue to drive more and more consumers to settle for the much cheaper Generic Drugs. This morning, Stock-Callers.com presents four stocks within the Generic Drugs space for review, one of which has dominated the headlines just recently. Let us take a look at our featured companies: Mylan N.V. (NASDAQ: MYL), Horizon Pharma PLC (NASDAQ: HZNP), Allergan PLC (NYSE: AGN), and Akorn Inc. (NASDAQ: AKRX).  Download the free research reports on these stocks today: http://stock-callers.com/registration

Mylan  

Hertfordshire, the UK-based Mylan N.V.'s shares fell 1.04%, closing Thursday's trading session at $41.92. The stock recorded a trading volume of 5.69 million shares, which was above its three months average volume of 5.29 million shares. Shares of the Company are trading 8.59% below their 50-day moving average. Additionally, shares of Mylan, which together with its subsidiaries, develops, licenses, manufactures, markets, and distributes generic, branded generic, and specialty pharmaceuticals worldwide, have a Relative Strength Index (RSI) of 27.99.

On September 1st, 2016, Mylan announced that the U.S. Patent and Trademark Office has ruled in favor of Mylan in its inter parties review proceeding and found all claims of U.S. Patent No. 8,969,302, which is owned by Yeda Research & Development Co., Ltd. and licensed to Teva Pharmaceuticals Industries Ltd., unpatentable. See our free and comprehensive research report on MYL at: http://stock-callers.com/registration/?symbol=MYL

Horizon Pharma  

On Thursday, shares in Dublin, Ireland headquartered Horizon Pharma PLC recorded a trading volume of 1.75 million shares. The stock dropped 0.96%, ending the day at $18.62. The Company's shares have advanced 4.55% in the previous three months. The stock is trading above its 200-day moving average by 2.72%. Furthermore, shares of Horizon Pharma, which engages in identifying, developing, acquiring, and commercializing medicines for the treatment of arthritis, pain, inflammatory, and/or orphan diseases in the US and internationally, have an RSI of 37.06.

On August 18th, 2016, Horizon Pharma announced that the US Patent and Trademark Office has granted a Notice of Allowance for US patent application number 14/563,000, entitled "Delayed-Release Glucocorticoid Treatment of Rheumatoid Disease" that covers Horizon's U.S. approved medicine RAYOS (prednisone) delayed-release tablets. The Notice of Allowance concludes the substantive examination of the patent application and will result in the issuance of a U.S. patent after administrative processes are completed.  After issuance, Horizon plans to list the patent in the FDA's Approved Drug Products with Therapeutic Equivalence Evaluations, or Orange Book. HZNP free research report PDF is just a click away at: http://stock-callers.com/registration/?symbol=HZNP

Allergan  

Dublin, Ireland headquartered Allergan PLC's stock finished the day 1.37% higher at $237.76 and with a total volume of 2.82 million shares traded. Shares of the Company, which develops, manufactures, markets, and distributes medical aesthetics, biosimilar, and over-the-counter pharmaceutical products worldwide, are trading below their 50-day moving average by 2.57%. The stock has an RSI of 39.22.

On August 19th, 2016, research firm Mizuho upgraded the Company's stock rating from 'Neutral' to 'Buy'. The research firm also revised upwards its previous target price from $248 to $318.

On August 31st, 2016, Allergan announced that its subsidiaries Forest Laboratories, LLC, Forest Laboratories Holdings, Ltd. and Allergan USA, along with Adamas Pharmaceuticals, Inc. (ADMS), have entered into a settlement agreement with Amneal Pharmaceuticals LLC and Amneal Pharmaceuticals of New York, LLC. The settlement relates to a patent infringement litigation brought by Forest and Adamas in response to Amneal's abbreviated new drug application (ANDA) seeking approval to market generic versions of Allergan's NAMZARIC® (memantine and donepezil hydrochlorides) extended-release, a once-daily, fixed-dose combination of memantine hydrochloride (a NMDA receptor antagonist) and donepezil hydrochloride (an acetylcholinesterase inhibitor, AChEI). Sign up for your complimentary report on AGN at: http://stock-callers.com/registration/?symbol=AGN

Akorn  

Shares in Lake Forest, Illinois headquartered Akorn Inc. ended yesterday's session 0.89% lower at $26.68 and with a total volume of 1.01 million shares traded. The stock is trading 8.10% below its 200-day moving average. Shares of the Company, which develops, manufactures, and markets generic and branded prescription pharmaceuticals, as well as private-label over-the-counter consumer health products and animal health pharmaceuticals in the US and internationally, have an RSI of 30.70.

On August 4th, 2016, Akorn reported revenue of $281 million for Q2 2016, a 27% increase from Q2 2015. The company's GAAP net income for Q2 2016 was $62 million, or $0.50 per diluted share, up 85% compared to GAAP net income of $33 million, or $0.27 per diluted share, in Q2 2015.

On August 05th, 2016, research firm WallachBeth reiterated its 'Buy' rating on the Company's stock with an increase of the target price from $39 a share to $40 a share. Register for free on Stock-Callers.com and download the latest research report on AKRX at: http://stock-callers.com/registration/?symbol=AKRX

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