June 24, 2013 at 11:50 AM EDT
Wall Street Fundamentals Releases New In-Depth Stock Reports on BPAX, PPHM, RPRX and SGMO
The biotech industry’s surge in 2013 seems to have cooled in recent weeks as the sector has been hit by a broad slump in the markets. The SPDR S&P Biotech ETF (NYSEARCA: XBI) and the iShares NASDAQ Biotechnology Index ETF (NASDAQ: IBB) have posted declines of 3.65 and 4.04 percent in the past week. Federal Reserve Chairman Ben Bernanke’s comments hinting that bond purchases may be scaled back later this year sent markets sliding sharply this past week. Although it may not have a major effect on the Biotech sector in the long run it has made investors more susceptible to news triggering them to take gains or cut losses.
Biosante Pharmaceuticals Inc. (NASDAQ: BPAX) shares traded in the range of $1.00 to $1.23 Friday, on volume of 1.72 million shares traded before settling to close at $1.05, a decrease of 16.67 percent. The stock appears to be facing resistance at the $1.09 and $1.11 levels. The company has recently received a NADSAQ delisting determination letter. Shares of Biosante Pharmaceuticals have fallen approximately 14.6 percent in year-to-date.
More information on Biosante Pharmaceuticals and access to the free equity report can be found at: www.WallStreetFundamentals.com/BPAX
Peregrine Pharmaceuticals (NASDAQ: PPHM) shares traded in the range of $1.36 to $1.42 Friday before settling to close at $1.38, a decrease of 2.46 percent. The stock appears to be facing resistance at the $1.52 and $1.60 levels. The company has recently presented encouraging results from two clinical trials evaluating the company's lead clinical candidate bavituximab at the 2013 ASCO Annual Meeting. Shares of Peregrine Pharmaceuticals have fallen approximately 8.0 percent in the past week.
More information on Peregrine Pharmaceuticals and access to the free equity report can be found at: www.WallStreetFundamentals.com/PPHM
Repros Therapeutics Inc. (NASDAQ: RPRX) shares traded in the range of $18.88 to $20.75 Friday before settling to close at $19.37, a decrease of 5.07 percent. The stock appears to be facing some resistance at $20.67 with some support at $18.76. Shares of Repros Therapeutics have gained approximately 23.0 percent year-to-date.
More information on Repros Therapeutics and access to the free equity report can be found at: www.WallStreetFundamentals.com/RPRX
Sangamo Biosciences, Inc. (NASDAQ: SGMO) shares traded in the range of $7.11 to $8.09 Friday before settling to close at $7.35, a decrease of 5.16 percent. The stock appears to be facing some resistance at the $7.68 and $7.87 levels. Shares of Sangamo Biosciences have gained approximately 22.3 percent year-to-date.
More information on Sangamo Biosciences and access to the free equity report can be found at: www.WallStreetFundamentals.com/SGMO
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Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.
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