June 13, 2013 at 10:55 AM EDT
StockCall Pre-Market Review on ACAD, DNDN, MDVN, CTIC, and SRPT
StockCall.com Provides Stock Research on ACADIA Pharmaceuticals Inc., Dendreon Corp., Medivation Inc., Cell Therapeutics Inc., and Sarepta Therapeutics Inc.
New York City, New York -- (June 13, 2013)
The U.S. biotechnology sector has been facing significant competition from generic drug makers following the expiration of patents on several blockbuster drugs. The “patent cliff” is expected to lead to a significant loss in revenue for drug manufacturers and biotechnology companies. In 2013 alone, patents on drugs with annual sales worth nearly $30 billion are set to expire. The key for biotechnology companies will be to boost their product pipelines, going forward. Biotech companies are also likely to collaborate with major pharma companies and institutions to boost their product pipelines. On Wednesday, June 12, 2013, shares in biotechnology companies ended mostly lower, tracking losses in the broader market. The major movers in the sector included ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), Dendreon Corporation (NASDAQ: DNDN), Medivation Inc. (NASDAQ: MDVN), Cell Therapeutics Inc. (NASDAQ: CTIC), and Sarepta Therapeutics Inc. (NASDAQ: SRPT). StockCall analysts initiated preliminary technical research on ACAD, DNDN, MDVN, CTIC, and SRPT. These free reports are accessible by signing today at
Shares in ACADIA Pharmaceuticals Inc. tumbled on Wednesday, closing 5.78% lower at $17.76 after trading between $17.58 and $19.10. A total of 3.87 million shares were traded which is slightly above the daily average volume of 3.70 million. However, despite the sharp decline yesterday, the company’s shares have grown over 4.40% so far this week. The free technical analysis on ACAD is available by signing up at
Dendreon Corporation’s stock rallied yesterday even as the broader market fell sharply. The company’s shares hit an intraday high of $4.25 before closing the day 5.22% higher at $4.23. A total of 5.60 million shares were traded which is well above the daily average volume of 4.51 million. Shares of DNDN have now grown nearly 8.50% so far this week. However, despite the recent gains, the stock is still down over 20% for the year. Register now to download the free research on DNDN at
Shares in Medivation Inc. fell sharply on Wednesday. The company’s shares ended the day 3.35% lower at $50.08 after trading between $50.04 and $52.17. A total of 531,607 shares were traded which is well below the daily average volume of 1 million. Shares of MDVN have slipped below their 50- and 200-day moving averages as a result of the losses in yesterday’s session. Free report on MDVN can be accessed by registering at
Cell Therapeutics Inc.’s stock was one of the worst performers in the biotech sector yesterday. The company’s shares traded between $1.19 and $1.24 before ending the day 2.44% lower at $1.20. It also saw volume turnover of 465,075 shares which is well below the daily average volume of 922,130. Shares of CTIC have fallen nearly 7.70% thus far in 2013. The stock is currently trading 69.54% below its 52-week high.Register withStockCall and download the research on CTIC for free at
Shares in Sarpeta Therapeutics Inc. struggled on Wednesday as the broader market came under pressure. Shares of the biotech company hit an intraday low of $37.05 before closing the day 3.47% lower at $37.33. A total of 978,656 shares were traded during the session which is below the daily average volume of 1.35 million. However, despite the sharp decline, the stock has gained 44.70% so far this year. Read the full free research on SRPT by signing up to StockCall at
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William T. Knight
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