June 14, 2013 at 10:55 AM EDT
StockCall Study on BMRN, DCTH, ASTX, and AKRX
StockCall.com Provides Stock Research on BioMarin Pharmaceutical Inc., Delcath Systems Inc., Astex Pharmaceuticals Inc., and Akorn Inc.
New York City, New York -- (June 14, 2013)
The biotechnology sector suffered a major setback on Thursday, June 13, 2013 following a landmark ruling from the U.S. Supreme Court. The Supreme Court ruled yesterday that genes cannot be patented since they occur naturally and are not invented. The ruling is expected to have significant implications for the multi-billion dollar biotechnology sector. The ruling comes at a time when major drug manufacturers and biotechnology companies are facing the “patent cliff”, which refers to expiration of patents on several blockbuster drugs over the next few years. The patent cliff has already led to increasing competition from generic drug makers. On Thursday, shares in drug manufacturers and biotechnology companies ended mostly higher. The major movers included BioMarin Pharmaceutical Inc. (NASDAQ: BMRN), Delcath Systems Inc. (NASDAQ: DCTH), Astex Pharmaceuticals Inc. (NASDAQ: ASTX), and Akorn Inc. (NASDAQ: AKRX). StockCall free coverage on BMRN, DCTH, ASTX, and AKRX is available upon registration at
Shares in BioMarin Pharmaceutical Inc. rose sharply on Thursday, tracking gains in the broader market. The company’s shares ended the day 2.59% higher at $58.97 after trading between $35.94 and $71.56. A total of 846,871 shares were traded which is well below the daily average volume of 1.74 million. Shares of BMRN are currently facing stiff resistance at around $60. The stock is currently trading well below its 50-day moving average. So far this year, shares of the company have gained nearly 19.90%, thus outperforming the S&P 500. Download the free technical research on BMRN by signing up at
Delcath Systems Inc.’s stock surged yesterday, extending their gains from previous sessions. The company’s shares hit an intraday high of $0.48 before finishing the day 10.61% higher at $0.470. A total of 2.20 million shares were traded which is below the daily average volume of 2.57 million. Shares of DCTH have grown more than 20.50% in the last three sessions. However, despite the recent gains, the stock is still down nearly 61.80% so far in 201. The drug delivery company’s shares are currently trading 80.25% below their 52-week high. Register now and get access to the free analysis on DCTH at
Shares in Astex Pharmaceuticals Inc. rose sharply on Thursday, ending the day 2.68% higher at $4.60 after trading between $4.38 and $4.63. A total of 605,572 shares exchanged hands, which is well below the daily average volume of 1.45 million. Shares of the company have grown over 58% so far this year. However, despite the significant gains, the stock is still trading over 33.80% below its 52-week high. It is also trading well below its 50-day moving average. Sign up and read the complimentary report on ASTX at
Akorn Inc.’s stock moved lower in its most recent session yesterday, extending its losses from its previous trading sessions. The company’s shares ended the day 0.37% lower at $13.61 after trading between $13.41 and $13.69 on volume turnover of 767,280 which is above the daily average volume of 609,379. Shares of AKRX have declined by over 2.50% in the last three sessions. It is currently trading 19.32% below its 52-week high. Shares of the generic drug maker are also trading below their 50-day moving average. The free report on AKRX can be downloaded by signing up now at
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