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3 Humongous Health-Care Stocks This Week
A lot of health-care stocks took a beating this week. Not all of them, though. Here are the three most humongous health-care stocks over the week ending April 11, 2014. 1 2 3
Shares of the biopharmaceutical firm soared 22% this week. Agios Pharmaceuticals (Nasdaq: AGIO) Source: Yahoo! Finance
Positive phase 1 preliminary data was announced for cancer drug AG-221. Agios reported AG-221 was well tolerated but with two possible drug-related severe adverse events. Clinical results were promising, with multiple complete remissions in patients with blood cancer. Celgene (Nasdaq: CELG) stands as another winner, as AG-221 is part of a collaboration established between the big biotech and Agios in 2010. Why Agios shares took off
Shares of the biotech climbed 18% higher for the week. Questcor Pharmaceuticals (Nasdaq: QCOR) Source: Yahoo! Finance
Specialty pharmaceutical company Mallinckrodt (NYSE: MNK) is acquiring Questcor. Shareholders will receive $30 in cash and 0.897 Mallinckrodt shares for each Questcor share they own. The deal represents a 27% premium over Questcor’s closing price before the announcement. Why Questcor shot up
Shares of the clinical-stage biotech jumped nearly 18% this week. Bio-Path Holdings (Nasdaq: BPTH) Source: Yahoo! Finance
No big announcements this week from Bio-Path. The biotech looks to be rebounding from a sell-off that started in late February. Bio-Path’s Liposomal Grb-2 is in phase 1 clinical studies targeting several forms of leukemia and myelodysplastic syndrome. Why Bio-Path boomed
Questcor won’t shoot up significantly, since the price of the acquisition by Mallinckrodt is set. Bio-Path Holdings could continue its rebound, but major new developments are still in the future. Agios’ early-stage results for AG-221 show considerable promise . The partnership with Celgene gives Agios a leg up in continued development of the blood cancer drug. A possibility also exists that Celgene could use some of its $5.6 billion in cash and short-term investments to scoop up Agios down the road. Best pick to stay humongous? ?
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