Morning Research on Arena Pharma, Incyte, Galena Biopharma, and Novavax
LONDON, March 19, 2013 /PRNewswire/ --
One of the biggest trends to emerge in the healthcare industry in the last year has been the expiration of patents on several blockbuster drugs. The trend is expected to continue in 2013. The development has led to increasing competition from generic drugs and has put pressure on major pharmaceutical companies' top-line growth. As big pharma companies look to offset the loss of revenue from patent expirations, one trend that can emerge is acquisition or partnership with smaller biotechnology companies that are developing potential blockbuster drugs. Among the biotechnology companies that could generate interest among major pharmaceutical companies are Arena Pharmaceuticals Inc. (NASDAQ: ARNA), Incyte Corporation (NASDAQ: INCY), Galena Biopharma Inc. (NASDAQ: GALE), and Novavax Inc. (NASDAQ: NVAX). Biotechnology stocks ended on a mixed note on Monday even as the broad market struggled. StockCall has posted free technical research reports on ARNA, INCY, GALE, and NVAX and these can be accessed by signing up at
http://www.stockcall.com/analysis
Shares of biotechnology company Arena Pharmaceuticals Inc. fell sharply in Monday's trading session, closing 1.87% lower at $7.88 on volume of 4.41 million. The stock has now fallen nearly 3% in the last three sessions, which suggests that market sentiment is bearish on the stock. The stock has also slipped below $8 support level, which further confirms the bearish trend. The stock's MACD has also crossed below the signal line and is trading below the zero-line. The 50-day moving average has crossed below the 200-day moving average, forming a "death cross". Download the free report on ARNA upon registration at
http://www.StockCall.com/ARNA031913.pdf
Shares of Incyte Corporation were among the major losers yesterday. The stock ended the day 4.23% lower at $23.79 on above average volume of 8.92 million. Incyte's shares fell to an intra-day low of $21.79 before paring some of the losses. Despite the sharp decline, the biotech company's shares have had an excellent run so far in 2013, gaining more than 43%. The stock has seen a pullback after failing to break through $25 resistance level. Volume activity and the stock's MACD chart suggest that market sentiment has turned bearish on Incyte Corp. INCY technical report can be accessed for free by signing up at
http://www.StockCall.com/INCY031913.pdf
Shares of Galena Biopharma Inc. rallied in Monday's trading session even as the broad market struggled. The stock closed 5.21% higher at $2.02 on above average volume of 2.18 million. Despite yesterday's rally, Galena's shares have fallen more than 2.80% in the last three sessions. Year-to-date, however, the stock has gained more than 32%, outperforming the broad market. Shares of GALE are currently facing resistance at around $2.20. The stock has strong support at around $1.90. The free report on GALE can be downloaded by signing up now at
http://www.StockCall.com/GALE031913.pdf
Shares of Novavax Inc. rose sharply in trading its most recent session of trading. The stock closed 1.43% higher at $2.13 on above average volume of 1.03 million. Novavax's shares have gained nearly 4% in the last three sessions. The stock is currently trading close to its 52-week high of $2.44. The company's shares have just broken through $2.10 resistance level, which is a bullish signal. The upbeat trend is further confirmed by recent volume activity and the stock's MACD chart. Free report on NVAX can be accessed by registering at
http://www.StockCall.com/NVAX031913.pdf
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