Immunogen Topped the Small-Cap Stocks with High Volumes
Immunogen rose by 7.2% as of November 25, 2015. The stock rose on the high trading volume. It closed at $13.76. It passed the 100-day moving average price.
Bluebird Bio rose for the fourth consecutive day. Bluebird Bio closed at $89.47. It was trading 23.8% below the 100-day moving average price of $117.53.
Biogen rose 1% on November 25. It closed at $292.30. It was trading 5.7% below the 100-day moving average price of $309.85. It passed the 20-day moving average.
The SPDR S&P Biotech ETF (XBI) rose 2% for the day. It was one of the top gainers among the biotech ETFs. Nearly 80% of XBI’s holdings gave a positive return.
Bristol-Myers Squibb received a neutral response from investors following the Opdivo approval for two indications.
The FDA has now approved Opdivo for the treatment of BRAF WT (wild-type) melanoma, based on the results of a phase 3 study called CheckMate -066.
The FDA has now approved Opdivo for the treatment of advanced RCC (renal cell carcinoma) based on the results of a phase 3 study called CheckMate -025.
Opdivo is one of Bristol-Myers Squibb’ recent oncology drugs, already approved by the FDA for the treatment of patients with melanoma and advanced NSCLC.
Novartis’s Cosentyx gained approval on November 23, 2015, from the European Commission (or EC).
The European Commission’s (or EC) approval of Cosentyx (secukinumab) on November 23, 2015, for ankylosing spondylitis (or AS) and psoriatic arthritis (or PsA) patients is considered a major milestone for Novartis (NVS).
Novartis’s (NVS) Cosentyx (secukinumab) is the first interleukin-17A (or IL-17A) inhibitor available in Europe for ankylosing spondylitis (or AS) and psoriatic arthritis (or PsA).
Novartis (NVS) announced that the European Commission (or EC) has expanded the approved indications for Cosentyx to include ankylosing spondilitis and psoriatic arthritis.
Amgen (AMGN) rose 0.2% on November 24, 2015. According to a press release that day, the European Commission granted conditional marketing authorization for BLINCYTO.
Patterson Companies (PDCO) fell 6% on its lower-than-expected fiscal 2Q16 results. Investors were disappointed with increasing operating expenses.
Baxalta (BXLT) rose 6.4% on the publication of its ONIVYDE NAPOLI-1 study. BXLT closed at $35.67 and surpassed the 100-day and 50-day moving average prices of $34.09, and $33.55, respectively.
XLV closed at $71.56 on November 24, 2015, trading 0.35% below the 100-day moving average price of $71.89 and 0.2% above the 20-day moving average price of $71.40.
The respective PE ratios of Patterson Companies and peers Henry Schein, DENTSPLY International, and VCA are 23.6x, 27.1x, 31.5x, and 25.9x as of November 24.
Patterson Companies completed the sale of its Patterson Medical to MDP. MDP paid ~$715 million in cash to Patterson Companies under the agreement’s terms.
Insys Therapeutics (INSY) gained 8.1% on November 23, 2015. The stock gained on high trading volume of ~1.3 million shares.
AMGN closed at $162.47 and was trading at 3.9% above its 100-day moving average of $156.45. The stock also witnessed high trading volumes.