September 26, 2016
By Alex Keown, BioSpace.com Breaking News Staff
NEW YORK – It’s time to think about which stocks might give you the best return on investment and analysts at 24/7 Wall Street picked six biotech companies that could include a 50 percent to 150 percent upside.
Shares of Achillion are down more than 3 percent this morning, trading at $8.40. During the third quarter the company expects to announce data on its Phase IIa trial of a hepatitis C drug combination, a pairing of AL-335, odalasvir (ACH-3102), and simeprevir. Achillion is co-developing the treatment with Jansen, a subsidiary of Johnson & Johnson . On Sept. 23 analysts predicted a target price of $13 per share.
Shares of Puma Biotechnology are up this morning, trading at $68.59 as of 10:30 a.m. 24/7 Wall Street analysts have given the stock a target price of $111, which is based on increased expectations of the company’s New Drug Application for Neratinib, a potent irreversible tyrosine kinase inhibitor for treatment of HER2-positive breast cancer.
3. BioDelivery Sciences International, Inc.
Shares of BioDelivery Sciences International are down this morning at $2.70. In May, BioDelivery Sciences announce it was consolidating its sales force due to challenges to its lead product, Bunavail. Since its launch in 2014, Bunavail, a prescription medication used in helping those with a dependence on opioids, has dispensed more than 100,000 times. Since July, BDSI has announced five contract wins for Bunavail, 24/7 Wall Street reported. As a result, the analysts predict shares of the company could hit $4.
Analysts predict shares of Aviragen could jump to $5 based on early data from its lead drug, vapendavir. The stock is currently trading at $.176 per share this morning.
Shares of BioTime Inc. are up more than 4 percent this morning, trading at $3.98. The stock has a target price of $6 per share, according to the 24/7 Wall Street analysts. BioTime Inc. focuses on the development of pluripotent stem cell technology, with two programs, Renevia in medical aesthetics and OpRegen in dry AMD, advancing in the clinic. The company expects to report clinical data from the trials later this year and if the results are positive, shares could easily hit the $6 target.
Inotek ’s target price of $22 hinges on its glaucoma treatment, trabodenoson, which is currently in a Phase III trial. Enrollment of the trial was completed in August and top-line results of that trial are expected later this year. Shares of Inotek are slightly down this morning, trading at $8.74.
