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3 Stocks That Soared Stupendously This Week
Biotech and health-care certainly aren’t as hot as they were just a few months ago. There are still several bright spots in the sectors, though. Here are three health-care stocks racking up gains of 27% or more over the last few days. 1 2 3
Shares of the biotech skyrocketed 50% this week. Sarepta Therapeutics (Nasdaq:SRPT) Source: Yahoo! Finance
Sarepta announced plans to submit a New Drug Application, or NDA, for eteplirsen by the end of 2014 Its Duchenne muscular dystrophy drug can proceed on an Accelerated Approval pathway The company must supply additional data to support eteplirsen’s efficacy and safety with the NDA This news marked a major reversal by the FDA, which had previously called an NDA for the drug as “premature” with “considerable doubt” about some aspects of Sarepta’s clinical studies Why Sarepta shares skyrocketed
Shares of the medical marijuana company jumped nearly 35% higher for the week. GW Pharmaceuticals (Nasdaq:GWPH) Source: Yahoo! Finance
GW Pharmaceuticals benefited from two endorsements Investment firm Morgan Stanley initiated coverage with an “overweight” rating CNBC’s Jim Cramer also plugged GW’s prospects on his television program GW’s cannabinoid multiple sclerosis drug Sativex is approved in 24 countries Epilepsy drug Epidiolex holds promise for driving future growth Why GW hit the jackpot
Shares of the biopharmaceutical firm vaulted 27% higher this week. Galena Biopharma (Nasdaq:GALE) Source: Yahoo! Finance
Anticipation appears to be the impetus for Galena’s big gains -- the company announces Q1 results on May 6 Investors will focus on sales for breakthrough cancer pain drug Abstral and any news about cancer drug Neuvax Neuvax could become a big winner for Galena should the phase 3 study currently underway produce solid results It remains to be seen if this week’s jump marks a comeback for Galena following news announced last month that the SEC is investigating some stock promotion activities conducted by the company Why Galena galloped
Successful clinical results for GW Pharmaceuticals’ Epidiolex and Galena’s Neuvax could power both stocks to higher levels Sarepta’s stock price remains well below levels from last October, when investors thought the company would receive a green light from the FDA to move forward with the NDA for eteplirsen Volatility could still reign for Sarepta – and there’s a good chance that the FDA will still not approve eteplirsen this go-around Over the long run, though, my view is that Sarepta will be able to make a solid case for eteplirsen and the stock will emerge (again) as a big winner Best pick to keep soaring? ?
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