August 12, 2016
By Mark Terry, BioSpace.com Breaking News Staff
Buy low and sell high is pretty much central dogma for stocks. Here are six biopharma stocks currently selling for under $10 per share that have the potential to climb high.
Mirati Therapeutics , based in San Diego, focuses on oncology. It has Glesatinib in a Phase II trial in non-small cell lung cancer (NSCLC), Sitravatinib in a Phase Ib trial in patients with specific genetic mutations in NSCLC and other solid tumors, and Mocetinostat in Phase II in combination with durvalumab, MedImmune’s anti-PD-L1 immune checkpoint inhibitor.
Mirati is currently trading for $5.34.
TheStreet’s analysis is primarily technical, noting that it has been “uptrending a bit over the last few weeks, with shares moving higher off its new 52-week low of $4.40 a share to its recent high of $5.76 a share. … If the breakout fires off soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day moving average of $6.47 a share to $7, or even $7.50 to $8 a share.”
ImmunoGen , headquartered in Waltham, Massachusetts, works in the area of antibody-drug conjugates (ADC), which are monoclonal antibodies linked to biologically active drugs.
ImmunoGen is currently trading for $3.03. TheStreet writes, “Traders should now look for long-biased trades in ImmunoGen as long as it’s trending above some near-term support at around $2.80 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.22 million shares.” They believe if that happens it could hit $3.60 to $4 per share.
Boulder, Colorado-based Nivalist Therapeutics is attempting to develop drugs to treat cystic fibrosis (CF). It’s lead candidate, N91115 targets patients with the F508del mutation, the most common CF mutation.
Nivalist is currently trading for $5.76. TheStreet writes, “From a technical perspective, Nivalis Therapeutics ripped sharply higher on Thursday back above its 200-day moving average of $5.53 a share and into breakout territory above some past overhead resistance at $5.66 a share with above-average volume.” They believe it could hit as high as $7.50 or $8 per share.
Onconova Therapeutics , based in Newton, Pennsylvania, is focused on small molecule drugs to treat cancer. It has rigosertib in a Phase III trial in myelodysplastic syndrome, another Phase III trial of the same drug in myelodysplastic syndrome, and rigosertib with azacitidine in a Phase I/II trial in myelodysplastic syndrome or acute myeloid leukemia.
Onconova is currently trading for $3.61. TheStreet expects it is it could go as high as $4.80 or $5 per share. “Traders should now look for long-biased trades in Onconova Therapeutics as long as it’s trending above its new 52-week low of $3.13 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 53,436 shares.”
Scynexis is a pharmaceutical company located in Jersey City, New Jersey. The company focuses on anti-infectives. Its lead product is SCY-078, an antifungal agent in Phase II trials.
Scynexis is currently trading for $2.14. TheStreet says, “Traders should now look for long-biased trades in Scynexis as long as it’s trending above some key near-term support levels at $2.04 a share or at $1.85 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 246,467 shares.” They project as high as $3.20 to $3.80 per share.
And finally, Adamis Pharmaceuticals , headquartered in San Diego, focuses on solutions for respiratory disease and allergies. Its lead pipeline product in an epinephrine injection pre-filled syringe for emergency allergy reactions. It also has other drugs in its pipeline for asthma and chronic obstructive pulmonary disease (COPD), and for allergic rhinitis.
Adamis is currently trading for $2.67. TheStreet thinks it could hit as high as $4 per share.
