Research Reports Initiation on Biotech Stocks -- Progenics Pharma, Tokai Pharma, Ophthotech, and Lexicon Pharma
NEW YORK, December 27, 2016 /PRNewswire/ --
Pre-market, Stock-Callers.com brings focus on these Biotech equities: Progenics Pharmaceuticals Inc. (NASDAQ: PGNX), Tokai Pharmaceuticals Inc. (NASDAQ: TKAI), Ophthotech Corp. (NASDAQ: OPHT), and Lexicon Pharmaceuticals Inc. (NASDAQ: LXRX). These stocks belong to the Healthcare sector which outpaced all other sectors by a considerable margin on Friday, December 23rd, 2016. As per a NASDAQ report, the NYSE Health Care Index held on to a 0.5% advance, while shares of health care companies in the S&P 500 rose more than 0.6% as a group just before the close. Learn more about these stocks by downloading their free report at:
http://stock-callers.com/registration
Progenics Pharma
Last Friday, shares in Tarrytown, New York-based Progenics Pharmaceuticals Inc. ended the session 8.01% higher at $9.57. The stock recorded a trading volume of 956,100 shares. The Company's shares have advanced 12.72% in the last month, 63.03% in the previous three months, and 56.12% since the start of this year. The stock is trading 30.93% above its 50-day moving average and 62.75% above its 200-day moving average. Moreover, shares of Progenics Pharma, which develops medicines for oncology in the US and internationally, have a Relative Strength Index (RSI) of 68.73.
On December 22nd, 2016, Progenics Pharmaceuticals announced that its independent Data Monitoring Committee has completed review of an interim analysis of the Company's ongoing Phase 3 clinical trial of its PSMA-targeted SPECT/CT imaging agent candidate, 99mTc-MIP-1404 (1404), and recommended that the trial continue. The free research report on PGNX is available at:
http://stock-callers.com/registration/?symbol=PGNX
Tokai Pharma
Boston, Massachusetts-based Tokai Pharmaceuticals Inc.'s stock dropped 11.57%, to close the day at $1.07. A total volume of 2.10 million shares was traded, which was above their three months average volume of 1.35 million shares. The Company's shares have advanced 0.94% in the past month. The stock is trading 5.00% below its 50-day moving average. Additionally, shares of Tokai Pharma, which focuses on developing and commercializing therapies for prostate cancer and other hormonally-driven diseases, have an RSI of 49.28.
On December 22nd, 2016, Tokai Pharmaceuticals and Otic Pharma Ltd, a privately-held, clinical-stage pharma Company announced that the two companies, together with the shareholders of Otic Pharma, have entered into a definitive share purchase agreement under which the shareholders of Otic Pharma will become the majority owners of Tokai. The Company will operate under the name Otic Pharma, Inc. Under terms of the agreement, Otic Pharma's shareholders will receive a total of 32,172,209 shares of newly issued Tokai's common stock, while outstanding Otic Pharma options and convertible securities will be assumed by Tokai. The complimentary report on TKAI can be downloaded at:
http://stock-callers.com/registration/?symbol=TKAI
Ophthotech
Shares in New York headquartered Ophthotech Corp. recorded a trading volume of 2.29 million shares at the close of the last trading session, which was above their three months average volume of 1.90 million shares. The stock ended the day 5.60% higher at $5.09. The Company's shares are trading below their 50-day moving average by 83.01%. Furthermore, shares of Ophthotech, which develops novel therapeutics to treat diseases of the back of the eye, have an RSI of 23.82.
On December 12th, 2016, Ophthotech announced that the pre-specified primary endpoint of mean change in visual acuity at 12 months was not achieved in its two pivotal Phase 3 clinical trials investigating the superiority of Fovista® (pegpleranib) anti-PDGF therapy in combination with Lucentis® (ranibizumab) anti-VEGF therapy compared to Lucentis® monotherapy for the treatment of wet age-related macular degeneration.
On December 13th, 2016, research firm Goldman upgraded the Company's stock rating from 'Sell' to 'Neutral'. Visit us today and download our complete research report on OPHT for free at:
http://stock-callers.com/registration/?symbol=OPHT
Lexicon Pharma
The Woodlands, Texas headquartered Lexicon Pharmaceuticals Inc.'s shares finished Friday's session 6.60% higher at $15.18. A total volume of 1.03 million shares was traded, which was higher than their three months average volume of 614,210 shares. The stock has advanced 14.05% since the start of this year. The Company's shares are trading above their 200-day moving average by 1.15%. Furthermore, shares of Lexicon Pharma, which focuses on the discovery and development of pharmaceutical products for the treatment of human diseases, have an RSI of 46.01.
On December 21st, 2016, Lexicon Pharma announced that its pivotal inTandem2 Phase 3 clinical trial of sotagliflozin met its primary endpoint, showing a statistically significant reduction in A1C at 24 weeks in patients with type 1 diabetes on optimized insulin therapy. Top-line results from the Phase 3 study showed that patients treated with sotagliflozin had mean A1C reductions from baseline of 0.39% on 200mg once daily sotagliflozin dose (p<0.001) and 0.37% on 400mg once daily sotagliflozin dose (p<0.001) as compared to a reduction of 0.03% on placebo after 24 weeks of treatment, meeting the study's primary endpoint. Get free access to your technical report on LXRX at:
http://stock-callers.com/registration/?symbol=LXRX
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