Pre-Market Analysis on Dendreon, ACADIA Pharma, Medivation, and Cell Therapeutics

Apr 05, 2013, 08:00 ET from

LONDON, April 5, 2013 /PRNewswire/ --

Swiss pharmaceutical major Novartis AG recently lost a patent case related to its cancer drug in India. The development once again highlights that drug manufacturers are facing significant competition from generic drugs. Major pharmaceutical companies have already seen patents on several blockbuster drugs expire over the last one year. The key for pharma companies will be to boost their product portfolio through research and development. Pharma companies can also look to acquire or partner with biotechnology companies that have developed or are developing potential blockbuster drugs. Dendreon Corporation (NASDAQ: DNDN), ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), Medivation Inc. (NASDAQ: MDVN), and Cell Therapeutics Inc. (NASDAQ: CTIC) are some of the biotechnology companies that could generate interest among major drug manufacturers. On Thursday, biotechnology stocks ended mostly higher, tracking gains in the broad market. StockCall has posted free technical research on DNDN, ACAD, MDVN, and CTIC which can be downloaded upon sign up at

Shares of Dendreon Corporation edged higher on Thursday; however, the gains were limited. The stock ended the day 0.43% higher at $4.72 on volume of 1.76 million. Dendreon's shares have gained nearly 2.40% in the last three trading sessions. Year-to-date, the stock is down nearly 10.80%. The company's shares are currently trading more than 61% below their 52-week high. Shares of DNDN are currently trading well below their 50-day and 200-day moving averages, which is a bearish signal. Sign up and read the complimentary report on DNDN at

Shares of ACADIA Pharmaceuticals Inc. rose sharply in trading yesterday. The stock touched an intra-day high of $7.75 before finishing the day 1.32% higher at $7.69 on volume of 916,412. Despite the gains on Thursday, ACADIA Pharma's shares have fallen 2.6% in the last three sessions. Year-to-date, however, the stock is still up more than 65%. ACADIA's shares have seen a pullback after the stock failed to break through $8.50 resistance level. The stock's MACD chart is currently giving bearish signals. The free report on ACAD can be downloaded by signing up now at

Shares of Medivation Inc. rallied in Thursday's trading session. The stock closed 5.79% higher at $48.75 on above average volume of 2.06 million. Medivation's shares touched an intra-day high of $49 yesterday. The company's shares have had an excellent run over the past five trading sessions, gaining nearly 10%. The stock is now approaching $49 resistance level. The stock's MACD has crossed above the signal line, which is a bullish signal. Free report on MDVN can be accessed by registering at

Shares of Cell Therapeutics Inc. fell sharply in trading in its last trading session. The stock ended the day 1.77% lower at $1.11 on volume of 469,952 on Thursday. Cell Therapeutics' shares touched an intra-day low of $1.09 yesterday. The stock is currently trading close to its 52-week low of $1.02. Year-to-date, the stock has fallen more than 14.60%. The company's shares have seen a series of lows since the start of this year, which is a bearish signal. The bearish trend is further confirmed by the stock's MACD chart. Shares of CTIC are also trading below their 50-day and 200-day moving averages. Register with StockCall and download the research on CTIC for free at

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