5 Biotechs Under $10 With Massive Potential
September 6, 2016
By Alex Keown, BioSpace.com Breaking News Staff
NEW YORK – While the stock market has been going strong, many biotech and pharma companies haven’t seen the steady surges that some other industries have. However, if you are an investor looking to break into the pharma trading game, but don’t want to risk lots of money, analysts at 24/7 Wall Street have five stocks under $10 to consider.
Sophiris Bio
Shares of Sophiris Bio are trading at $3.09, down from a year-high of $5.82 last month. In May, the company terminated half its workforce in order to have the funding to support a second Phase III trial of its urological disease treatment drug, topsalysin (PRX302). This is a second Phase III trial for the drug, with a larger cohort, which the U.S. Food and Drug Administration required before approval. Analysts at 24/7 Wall Street speculate the stock could jump to $7.83 if the drug is approved.
Karyopharm Therapeutics
Newton, Mas.-based Karyopharm reported positive top-line results of its Phase IIb multiple myeloma drug, Selinexor. Although shares of the stock are down 6 percent this morning, currently trading at $9.97 per share, analysts predict the stock could more than double to $19.41 based on the future revenue of Selinexor.
Nivalis Therapeutics
Shares of Nivalis are booming this morning, with the stock up nearly 9 percent. Shares are trading at $6.95 per share. Nivalis is focused on the development of treatments for patients with Cystic Fibrosis through its proprietary S-nitrosoglutathione reductase (GSNOR) inhibitor program. 24/7 Wall Street analysts predict the stock could jump in price to nearly $25 per share based on its lead product, SNO6, which is in Phase II development.
Array BioPharma
Shares of Boulder, Colo.-based Array BioPharma are currently trading at $3.52 per share as of 10:11 a.m. Analysts predict the stock has a consensus price target of $8 per share. On Sept. 1, the FDA accepted Array’s New Drug Application for binimetinib for treatment of NRAS-mutant melanoma. The company is expected to meet with federal regulators this month to discuss the NDA package including clinical risk / benefit.
Recro Pharma
Shares of Recro Pharma are also jumping this morning, trading at $9.80, up from its opening price of $9.63 per share. Last month, the Malvern, Penn.-based company closed its public offering of common stock at $7.50 per share. In its IPO the company, focused on the development of non-opioid products for the treatment of serious acute pain, raised $15 million. Consensus stock pricing pegs shares of Recro Pharma with a target of $23.50 per share, according to the analysts. In July, the company announced its intravenous pain killer meloxicam was successful in a Phase III trial for patients following bunionectomy surgery.