NEW YORK, January 11, 2017 /PRNewswire/ --
The US Biotech industry has shown strength at the start of 2017, with the Nasdaq Biotechnology index climbing 8.1% since the end of 2016, racing past the broad S&P 500 index that has edged up by 1.3%. According to Nicholas Colas, chief market strategist at Convergex, part of the new-year rebound has to do with the "January effect," as investors place money back into stocks they sold at a loss for tax purposes. Pre-market, Stock-Callers.com monitors the most recent performances of these four biotech stocks: Biogen Inc. (NASDAQ: BIIB), Alnylam Pharmaceuticals Inc. (NASDAQ: ALNY), Cascadian Therapeutics Inc. (NASDAQ: CASC), and Marinus Pharmaceuticals Inc. (NASDAQ: MRNS). Download the free research reports on these stocks today:
Massachusetts headquartered Biogen Inc.'s shares saw a slight drop of 0.41%, finishing Tuesday's trading session at $297.79. A total volume of 1.41 million shares was traded. In the last one month and since the start of this year, the stock has advanced 2.85% and 5.01%, respectively. The Company's shares are trading above their 50-day and 200-day moving averages by 0.75% and 4.50%, respectively. Moreover, shares of Biogen, which discovers, develops, manufactures, and delivers therapies for the treatment of neurodegenerative diseases, hematologic conditions, and autoimmune disorders, have a Relative Strength Index (RSI) of 54.81.
On December 29th, 2016, research firm Raymond James reiterated its 'Strong Buy' rating on the Company's stock with an increase of the target price from $375 a share to $386 a share.
On January 05th, 2017, Amunix Operating Inc. announced that Biogen has exercised its option to enter into an exclusive, worldwide license agreement to develop and commercialize a novel, recombinant Factor IX product candidate that incorporates Amunix' XTEN technology to provide extended half-life. The agreement is part of Biogen's hemophilia business, which is expected to launch as Bioverativ on February 01st, 2017 as an independent, public company focused on the discovery, research, development and commercialization of treatments for hemophilia and other rare blood disorders. See our free and comprehensive research report on BIIB at:
On Tuesday, shares in Massachusetts headquartered Alnylam Pharmaceuticals Inc. recorded a trading volume of 775,546 shares, and ended the session 2.78% higher at $44.71. The stock has gained 9.56% in the last one month, 25.87% over the previous three months, and 19.42% on an YTD basis. The Company's shares are trading 6.82% above their 50-day moving average. Furthermore, shares of Alnylam Pharma, which discovers, develops, and commercializes novel therapeutics based on RNA interference, have an RSI of 59.63.
On December 19th, 2016, research firm Chardan Capital Markets reiterated its 'Buy' rating on the Company's stock with a decrease of the target price from $89 a share to $69 a share.
On January 03rd, 2017, Alnylam announced that David-Alexandre "DA" Gros, M.D., Senior Vice President and Chief Business Officer, plans to leave the Company for personal reasons. His resignation will be effective January 06th, 2017. Additionally, the Company announced the promotion of Pushkal Garg, M.D., Senior Vice President, Clinical Development, to the role of Chief Medical Officer. ALNY free research report PDF is just a click away at:
Shares in Washington headquartered Cascadian Therapeutics Inc. closed at $4.77, dropping 4.02% from the last trading session. The stock recorded a trading volume of 99,969 shares. The Company's shares have gained 10.67% since the start of this year, and are trading 16.04% below their 50-day moving average. Additionally, shares of Cascadian Therapeutics, which engages in the research and development of therapeutic products for the treatment of cancer, have an RSI of 42.52.
On January 04th, 2017, Cascadian announced the appointment of Marc L. Lesnick, Ph.D., as Senior Vice President, Regulatory Affairs and Quality. He will lead the development of global regulatory strategy and quality processes, including advancing the Company's lead development program, tucatinib, through planned global regulatory processes to potential registration. Dr. Lesnick will report to Scott Myers, President and CEO of Cascadian. Sign up for your complimentary report on CASC at:
At the closing bell yesterday, shares in Pennsylvania-based Marinus Pharmaceuticals Inc. ended 0.88% lower at $1.12. A total volume of 1.08 million shares was traded, which was above their three months average volume of 753,840 shares. The stock has advanced 19.15% in the last one month and 10.89% on an YTD basis. The Company's shares are trading above their 50-day moving average by 7.09%. Furthermore, shares of Marinus Pharma, which focuses on developing and commercializing therapeutics to treat epilepsy and neuropsychiatric disorders, have an RSI of 62.49.
On January 03rd, 2017, Marinus Pharmaceuticals announced that the US Food and Drug Administration has granted Orphan Drug Designation to its CNS-selective GABAA modulator, ganaxolone, for the treatment of Fragile X Syndrome. Register for free on Stock-Callers.com and download the latest research report on MRNS at:
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