Hot Biotech Stocks To Own Right Now

What happened

Shares of Innovate Biopharmaceuticals, Inc. (NASDAQ:INNT) plunged 66% on Monday in a move apparently spurred by a filing related to a proposed stock offering. Innovate filed a securities registration statement amendment with the U.S. Securities and Exchange Commission (SEC) last week detailing the company’s plans to issue up to $175 million of new stock and to sell nearly 14 million shares of existing stock. The biotech’s filing was accepted by the SEC after the market closed on Friday, July 13, 2018.

So what

The potential for Innovate to sell as much as $175 million of new shares is a big deal for a company that had a market capof around $600 million prior to Monday’s close. However, Innovate’s stock offering made sense.

Image source: Getty Images.

Innovate Biopharmaceuticals ranked as the No. 1 best-performing biotech stock in the first half of 2018, with its share price skyrocketing 3,260%. The company doesn’t have a lot of money, though, reporting cash and cash equivalents totaling a little under $13 million as of March 31, 2018. Innovate lost over $16 million in the first quarter.

Hot Biotech Stocks To Own Right Now: Biogen Idec Inc(BIIB)

Advisors’ Opinion:

  • [By Cory Renauer]

    Biotech traders get heaps of attention, but buying promising young drugmakers and holding them for the long term is a far easier way to get rich. Case in point: Spreading $10,000 evenly among shares of Biogen Inc. (NASDAQ:BIIB),Celgene Corporation (NASDAQ:CELG), andGilead Sciences Inc.(NASDAQ:GILD) around this time in 1998 would have made you a millionaire already.

  • [By Chris Lange]

    Short interest in Biogen Inc. (NASDAQ: BIIB) increased to 3.86 million shares from the previous 3.45 million. The stock recently traded at $287.00, within a 52-week range of $244.28 to $370.57.

  • [By Lisa Levin]

    Analysts at Canaccord Genuity upgraded Biogen Inc. (NASDAQ: BIIB) from Hold to Buy.

    Biogen shares rose 2.55 percent to close at $294.40 on Tuesday.

  • [By Chris Lange]

    Short interest in Biogen Inc. (NASDAQ: BIIB) increased to 4.73 million shares from the previous 4.33 million. The stock recently traded at $291.92, within a 52-week range of $249.17 to $370.57.

  • [By Keith Speights]

    Shares of Biogen Inc. (NASDAQ:BIIB) were up 15.2% as of 11:35 a.m. EDT on Friday after the biotech, along with partner Eisai, reported encouraging results from a phase 2 clinical study of BAN2401 in treating Alzheimer’s disease. Patients taking BAN2401 achieved statistically significantimprovement compared to patients on placebo after 18 months inslowing progression of Alzheimer’s disease and in the reductionofamyloidaccumulations inthe brain.

Hot Biotech Stocks To Own Right Now: Amgen Inc.(AMGN)

Advisors’ Opinion:

  • [By ]

    For example, if you buy 100 shares of theNasdaq100ETF(NYSE: QQQ), you’re theoretically buying 11.9 shares of Apple (NASDAQ: AAPL)… 7.7 shares of Facebook (NASDAQ: FB)… 1.8 shares ofAmgen(NASDAQ: AMGN)… 2.6 shares of Comcast (NASDAQ: CMCSA)… and even smaller amounts of about 95 different companies.

  • [By Ethan Ryder]

    Wayne Hummer Investments L.L.C. trimmed its position in shares of Amgen (NASDAQ:AMGN) by 11.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,311 shares of the medical research company’s stock after selling 303 shares during the period. Wayne Hummer Investments L.L.C.’s holdings in Amgen were worth $394,000 at the end of the most recent quarter.

  • [By Chris Lange]

    Amgen Inc. (NASDAQ: AMGN) saw its short interest rise to 10.46 million shares from the previous level of 9.49 million. Shares were last seen at $171.94, in a 52-week trading range of $152.16 to $201.23.

  • [By Cory Renauer]

    The recent surge in biotech investment is terrific for the pace of innovation, but that capital isn’t heading toward the industry’s bigger older players, a couple of which are looking mighty underappreciated right now. Perhaps the investment community’s intense focus on start-ups has created interesting opportunities to snap up shares of these two overlooked biotechs at a very nice price.

    Company (Symbol) Forward P/E Ratio Free Cash Flow, Past 12 Months Cash, Cash Equivalents, and Short-Term Investments as of March 31
    AbbVie Inc. (NYSE:ABBV) 12.2 $10.0 billion $9.5 billion
    Amgen, Inc. (NASDAQ:AMGN) 14.2 $10.9 billion $32.2 billion

    Data source: Yahoo! Finance.

Hot Biotech Stocks To Own Right Now: Alnylam Pharmaceuticals Inc.(ALNY)

Advisors’ Opinion:

  • [By Logan Wallace]

    Alnylam Pharmaceuticals (NASDAQ:ALNY) was downgraded by analysts at Zacks Investment Research from a hold rating to a sell rating. According to Zacks, “Although Alnylam has a broad and promising pipeline, we note that most candidates are in mid stages of development. These candidates still have a long way to go before hitting the market. The company relies highly on collaborators for funding. Any development/regulatory setback would be a negative for the company.  However, Alnylam reported positive data from the ATLAS study in the first quarter which led to regulatory filings for its late-stage pipeline candidate patisiran and the FDA set an action date of Aug 11, 2018. The company along with its partners Sanofi and The Medicines Company, restarted fitusiran's ATLAS phase III study and advanced inclisiran in the ORION-9, -10, and -11 phase III studies, respectively, with results expected for both programs in 2019. Alnylam expects to achieve the profile of three marketed products by the end of 2020.”

  • [By Keith Speights]

    It’s not exactly David vs. Goliath. However, Bellicum Pharmaceuticals (NASDAQ:BLCM) and Alnylam Pharmaceuticals (NASDAQ:ALNY) are definitely in different leagues right now. Both are clinical-stage biotechs, but Bellicum’s market cap is less than $350 million while Alnylam’s market cap is close to $10 billion.

  • [By Max Byerly]

    Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, May 3rd. The biopharmaceutical company reported ($1.41) EPS for the quarter, topping analysts’ consensus estimates of ($1.47) by $0.06. The business had revenue of $21.90 million during the quarter, compared to analysts’ expectations of $35.23 million. Alnylam Pharmaceuticals had a negative return on equity of 36.81% and a negative net margin of 565.20%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.25) earnings per share. equities analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -6.7 earnings per share for the current fiscal year.

  • [By Brian Orelli]

    Alnylam Pharmaceuticals (NASDAQ:ALNY) released first-quarter results last week, but all eyes were looking forward as the company waits for a potential approval of its hereditary TTR amyloidosis (ATTR) drug, patisiran.

  • [By Sean Williams, Chuck Saletta, and Brian Feroldi]

    So, which biotech stocks should you consider buying in June? That’s a question we posed to three of our healthcare-focused investors. Interestingly enough, mid-cap biotech stocks are the clear flavor of the month. If biotech is on your radar in June, our investors suggest you consider Ionis Pharmaceuticals (NASDAQ:IONS), Spark Therapeutics (NASDAQ:ONCE), and Alnylam Pharmaceuticals (NASDAQ:ALNY).

  • [By Keith Speights]

    Speaking of competition, Ionis should have its hands full battling rivals for Tegsedi assuming the drug wins approval. Alnylam (NASDAQ:ALNY) anticipates winning FDA approval for its hATTR drug patisiran within a few weeks. Because the FDA delayed its decision on Tegsedi, Alnylam appears to be in position to reach the market first. In addition to its first-mover advantage, patisiranappears to have an edge over Tegsedi in efficacy and safety based on clinical data for the two drugs.

Hot Biotech Stocks To Own Right Now: ArQule Inc.(ARQL)

Advisors’ Opinion:

  • [By Joseph Griffin]

    Shares of ArQule, Inc. (NASDAQ:ARQL) were down 5.4% during trading on Wednesday . The company traded as low as $4.71 and last traded at $4.73. Approximately 3,358,864 shares traded hands during trading, an increase of 289% from the average daily volume of 863,008 shares. The stock had previously closed at $5.00.

  • [By Money Morning Staff Reports]

    But Blink and our other penny stocks to watch are unlikely to continue to lock in such spectacular gains in June. After looking at our 10 top penny stocks to watch this month, we’ll show you a small-cap stock with great profit potential in its future…

    Penny Stock Current Share Price Law Month’s Gain
    Blink Charging Co. (Nasdaq: BLNK) $7.07 439.85%
    Senes Tech Inc. (Nasdaq: SNES) $1.27 175.40%
    Vivis Inc. (Nasdaq: VVUS) $0.77 150.41%
    Adomani Inc. (Nasdaq: ADOM) $1.49 137.68%
    NF Energy Saving Co. (Nasdaq: NFEC) $2.34 134.88%
    Vaalco Energy Inc. (NYSE: EGY) $2.15 109.06%
    Heat Biologics Inc. (Nasdaq: HTBX) $2.35 99.12%
    ArQule Inc. (Nasdaq: ARQL) $4.88 90.74%
    LiqTech International Inc. (NYSE: LIQT) $0.66 85.60%
    Transenterix Inc. (NYSE: TRXC) $3.46 77.84%

    While last month’s gains are tremendous, they also illustrate the inherent dangers that come with investing in penny stocks.

  • [By Logan Wallace]

    ValuEngine downgraded shares of ArQule (NASDAQ:ARQL) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday.

    Several other brokerages also recently issued reports on ARQL. Zacks Investment Research upgraded shares of ArQule from a hold rating to a buy rating and set a $2.75 target price for the company in a research note on Tuesday, May 8th. B. Riley set a $4.00 target price on shares of ArQule and gave the company a buy rating in a research note on Monday, March 26th. Roth Capital raised their target price on shares of ArQule from $5.00 to $6.00 and gave the company a buy rating in a research note on Tuesday, April 17th. BidaskClub upgraded shares of ArQule from a hold rating to a buy rating in a research note on Saturday, May 19th. Finally, Leerink Swann upgraded shares of ArQule from a market perform rating to an outperform rating in a research note on Thursday, April 5th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $5.35.

  • [By Stephan Byrd]

    ArQule, Inc. (NASDAQ:ARQL) Director Ronald M. Lindsay acquired 23,900 shares of the company’s stock in a transaction on Thursday, May 10th. The stock was acquired at an average price of $2.67 per share, for a total transaction of $63,813.00. Following the purchase, the director now directly owns 43,900 shares of the company’s stock, valued at $117,213. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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