Research Reports Initiation on Biotech Stocks -- Incyte, Anavex Life Sciences, Portola Pharma, and Spectrum Pharma
NEW YORK, December 29, 2016 /PRNewswire/ --
Stock-Callers.com brings focus on Biotechnology, which is defined as the manipulation of living organisms or their components to produce useful commercial products such as pest resistant crops, new bacterial strains, or novel pharmaceuticals. Equities in today's lineup are: Incyte Corp. (NASDAQ: INCY), Anavex Life Sciences Corp. (NASDAQ: AVXL), Portola Pharmaceuticals Inc. (NASDAQ: PTLA), and Spectrum Pharmaceuticals Inc. (NASDAQ: SPPI). Learn more about these stocks by downloading their free report at: http://stock-callers.com/registration
Incyte
At the close on Wednesday, shares in Delaware headquartered Incyte Corp. saw a drop of 1.39%, ending the day at $101.10. The stock recorded a trading volume of 731,335 shares. The Company's shares have advanced 8.48% in the previous three months. The stock is trading above its 50-day and 200-day moving averages by 2.94% and 18.84%, respectively. Moreover, shares of Incyte, which focuses on the discovery, development, and commercialization of proprietary therapeutics in oncology in the US and internationally, have a Relative Strength Index (RSI) of 50.99.
On December 21st, 2016, Incyte and Merus N.V. announced that they have entered into a global, strategic collaboration agreement focused on the research, discovery, and development of bispecific antibodies utilizing Merus' proprietary Biclonics® technology platform. Under terms of the collaboration, Incyte has agreed to pay Merus an upfront payment of $120 million. In addition, Incyte has agreed to purchase 3.2 million shares of Merus at $25 per share, for a total equity investment of $80 million. The free research report on INCY is available at: http://stock-callers.com/registration/?symbol=INCY
Anavex Life Sciences
Shares in New York-based Anavex Life Sciences Corp. ended the day 2.17% lower at $4.05 with a total trading volume of 503,200 shares. The stock is trading above its 50-day moving average by 13.76%. Shares of the Company, which engages in the development of drug candidates for the treatment of Alzheimer's disease, other central nervous system diseases, pain, and various cancers, have an RSI of 53.91.
On December 8th, 2016, Anavex announced a positive 57-week update from its Phase 2a study in mild-to-moderate Alzheimer's disease (AD) patients for ANAVEX 2-73, which targets cellular homeostasis. The study met both primary and secondary endpoints. Published AD studies confirmed substantial declines of cognitive (MMSE) and functional (ADCS-ADL) measures as well as Cogstate and EEG/ERP over 12 month in similar AD populations. Pre-specified exploratory analyses of the current study included the cognitive (MMSE) and the functional (ADCS-ADL) as well as Cogstate, HAM-D and EEG/ERP changes from baseline. The complimentary report on AVXL can be downloaded at: http://stock-callers.com/registration/?symbol=AVXL
Portola Pharma
On Wednesday, shares in South San Francisco, California headquartered Portola Pharmaceuticals Inc. finished 0.66% higher at $22.93. A total volume of 1.67 million shares was traded, which was above their three months average volume of 985,770 shares. The stock has advanced 25.03% in the last one month. The Company's shares are trading above their 50-day and 200-day moving averages by 21.08% and 0.94%, respectively. Additionally, shares of Portola Pharma, which develops and commercializes therapeutics for patients in the areas of thrombosis, other hematologic disorders, and inflammation, have an RSI of 61.77.
On December 23rd, 2016, Portola Pharmaceuticals announced that the US FDA accepted Portola's New Drug Application granting priority review for betrixaban, an oral, once-daily Factor Xa inhibitor anticoagulant, for extended-duration prophylaxis of venous thromboembolism in acute medically ill patients with risk factors for VTE. A priority review shortens the FDA review timeline to six months from the standard review period of 10 months.
On December 27th, 2016, research firm Credit Suisse reiterated its 'Outperform' rating on the Company's stock with an increase of the target price from $20 a share to $29 a share. Visit us today and download our complete research report on PTLA for free at: http://stock-callers.com/registration/?symbol=PTLA
Spectrum Pharma
Henderson, Nevada headquartered Spectrum Pharmaceuticals Inc.'s shares recorded a trading volume of 430,265 shares at the end of yesterday's session. The stock closed the day 1.21% lower at $4.49. The Company's shares have advanced 9.63% in the last one month. The stock is trading above its 50-day moving average by 9.01%. Additionally, shares of Spectrum Pharma, which develops and commercializes oncology and hematology drug products, have an RSI of 55.63.
On December 8th, 2016, Spectrum Pharmaceuticals announced the oral presentation of data from a preclinical study evaluating poziotinib in lung cancer. The Company stated that EGFR exon 20 insertions induce a shift in the structure of cancer cells that prevents binding of many EGFR inhibitors. In vitro, Ba/F3 cells with EGFR exon 20 insertions were screened against several EGFR inhibitors including erlotinib, gefitinib, afatinib, dacomitinib, neratinib, poziotinib, ibrutinib rocilentinib, EGF816, and osimertinib. In Ba/F3 cells with EGFR exon 20 insertions, most of the TKIs failed to inhibit growth of EGFR exon 20 insertions with IC50 values above 100nM. Get free access to your technical report on SPPI at: http://stock-callers.com/registration/?symbol=SPPI
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