Here we have a close look at some of the major Biotech Stocks which have shown tremendous promise over the past few weeks. Investors are all recommended to closely monitor these stocks over the coming months as some movement is expected from these stocks.
Portola Pharmaceuticals (PTLA), a biopharmaceutical company, develops product candidates in the fields of thrombosis and hematology. This stock closed up 4.1% to $27.60 in the last trading session. From a technical perspective, PTLA ripped higher here right above its 200-day moving average of $25.70 and back above its 50-day moving average of $26.50 with monster upside volume. This stock has formed a major bottoming chart pattern over the last two months, with shares finding buying interest each time it has pulled back to $25 or right below $25 a share.
BioDelivery Sciences has a lot going for it. In June, the FDA approved Bunavail, a treatment for dependence on opiates. The annual market for these kinds of drugs is $1.4 billion. “We expect peak sales of Bunavail will be 20% to 25% of the market,” says Al Medwar, a vice-president at BioDelivery. Based on the way investors value biotech stocks, if Bunavail generates annual sales of $300 million, that should be worth $900 million in stock market value, or 12% more than BioDelivery’s current market cap.
Biotech Stock News
Inovio Pharmaceuticals (INO), together with its subsidiaries, discovers, develops and develops synthetic vaccines and immune therapies focusing on cancers and infectious diseases. From a technical perspective, INO ripped sharply higher here right off its 50-day moving average of $10.31 and back above its 200-day moving average of $10.68 with above-average volume. This sharp move to the upside on Friday also pushed shares of INO into breakout territory, since the stock took out some near-term overhead resistance at $10.86.
Applied Genetic Technologies (AGTC) , a clinical-stage biotechnology company, develops gene therapy products for inherited orphan ophthalmology diseases in the U.S. From a technical perspective, AGTC spiked sharply higher here right above its 50-day moving average of $17.63 with strong upside volume flows. This stock has formed a major bottoming chart pattern over the last two months, with shares finding buying interest right around $15 to just below $15 a share.
Biotech Financial News
Shares of AGTC have now started to spike higher off those support levels and it’s quickly moving within range of triggering a big breakout trade. That trade will hit if AGTC manages to take out Friday’s intraday high of $20.99 to some more near-term overhead resistance at $21.65 with high volume.
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