Corcept Therapeutics (CORT) has started February on a very bad note as general market volatility (in part a response to the January momentum run) and potential entrance of generic competition has shaved off 40% of the value of the shares. This is despite a very strong outlook for 2018.
While binary events, in terms of generic competition invading the market, remain very tricky events to analyse, I believe that legal and alternative products give the company ammunition to fend off competition quite a bit. As a result, I am looking to initiate a small speculative position at these lower levels.
A Look At The Past
Corcept Therapeutics has been established back in 1998 after which the company went public in 2004. Shares fell quickly from levels above the $10 mark to less than a dollar by 2006. No working product and continued losses resulted in cash burn and continued dilution (at low prices) which made that shares traded in low single digits in the years to follow.
The company obtained FDA approval for Korlym in February of 2012. This approval came in for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushings syndrome who have type 2 diabetes or glucose intolerance. Candidates furthermore have had to undergone a failed surgery or deemed not considerable for surgery. This is an orphan indication with a US patient population of an estimated 20,000 patients, while every year 3,000 new patients are diagnosed.
Top 5 Low Price Stocks To Own For 2018: Merrimack Pharmaceuticals, Inc.(MACK)
- [By Lisa Levin]
Check out these big penny stock gainers and losers
Aceto Corporation (NASDAQ: ACET) fell 41.9 percent to $4.30 in pre-market trading. ACETO board disclosed that it is taking proactive steps to address business and financial challenges. Canaccord Genuity downgraded Aceto from Buy to Sell.
Helios and Matheson Analytics Inc. (NASDAQ: HMNY) fell 25.3 percent to $2.86 in pre-market trading after reporting an ATM offering of $150 million.
Pier 1 Imports, Inc. (NYSE: PIR) fell 17.4 percent to $2.86 in pre-market trading after reporting a fourth quarter sales miss. Comps were down 7.5 percent in the quarter.
Sleep Number Corporation (NASDAQ: SNBR) fell 12.4 percent to $32.00 in pre-market trading following a first quarter earnings miss.
Paratek Pharmaceuticals, Inc. (NASDAQ: PRTK) fell 10.2 percent to $11.90 in pre-market trading on news of $125 million convertible debt offering.
Merrimack Pharmaceuticals, Inc. (NASDAQ: MACK) shares fell 8 percent to $8.02 in pre-market trading after dropping 2.02 percent on Wednesday.
Exponent, Inc. (NASDAQ: EXPO) shares fell 5.6 percent to $80 in pre-market trading.
Lumentum Holdings Inc. (NASDAQ: LITE) shares fell 4.8 percent to $60.00 in pre-market trading after rising 1.78 percent on Wednesday.
vTv Therapeutics Inc. (NASDAQ: VTVT) fell 4.6 percent to $2.10 in pre-market trading after surging 84.87 percent on Wednesday.
Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM) shares fell 4.5 percent to $40.07 in pre-market trading after the company reported Q1 results.
Align Technology, Inc.. (NASDAQ: ALGN) fell 3.5 percent to $267.40 in pre-market trading after rising 1.61 percent on Wednesday.
Transocean Ltd. (NYSE: RIG) shares fell 3.5 percent to $12 in pre-market trading after the company issued quarterly fleet status report.
GoPro, Inc. (NASDAQ: GPRO) fell 3.2 percent to $4.90 in pre-market trading.
Unilever PLC (NYSE: UL) fell 2.6 percent to $54.73 in pre-market
- [By Peter Graham]
Small cap cancer stock Merrimack Pharmaceuticals Inc (NASDAQ: MACK) reported Q1 2017 earnings before the market opened this morning. In early January, Merrimack Pharmaceuticals had announced a definitive asset purchase and sale agreement with Ipsen SA (EPA: IPN; IPSEY) for a transaction valued at up to $1.025 billion (plus up to $33 million in net milestone payments retained by Merrimack pursuant to Merrimack’s exclusive licensing agreement with Shire) under which Merrimack would:
- [By Peter Graham]
The Q4 2016 earnings report for small cap cancer stock Merrimack Pharmaceuticals Inc (NASDAQ: MACK) is scheduled for before the market opens on Wednesday (March 1st). In early January, Merrimack Pharmaceuticals reportedadefinitive asset purchase and sale agreement with Ipsen SA (EPA: IPN; IPSEY) for a transaction valued at up to $1.025 billion (plus up to $33 million in net milestone payments retained by Merrimack pursuant to Merrimack’s exclusive licensing agreement with Shire) under which Merrimack will:
- [By Paul Ausick]
Merrimack Pharmaceuticals Inc. (NASDAQ: MACK) dropped 8.9% on Friday to post a new 52-week low of $3.46 after closing at $3.80 on Thursday. Volume was more than double the daily average of about 3.2 million shares. The company had no specific news Friday.
Top 5 Low Price Stocks To Own For 2018: Humana Inc.(HUM)
- [By Ben Levisohn]
Clinton 15 stock basket (DBUSCLNT): UnitedHealth Group (UNH), Humana (HUM), McKesson (MCK), Aecom (ACM), Quanta Services (PWR), ExxonMobil (XOM), Alcoa (AA), NextEra Energy (NEE), Cree (CREE), First Solar (FSLR), Facebook (FB), Netflix (NFLX), Prudential Financial (PRU), Citigroup (C), Union Pacific (UNP).
- [By ]
The deal still needs approval from regulators, but there are fewer potential objections than the attempted tie-up between Aetna and Humana (NYSE: HUM), two insurers. While CVS does manage some drug-benefits plans for employers and insurers through its PBM, the merger wouldn’t create less competition in one particular segment of the industry like the insurance market.
- [By Keith Speights]
Although Aetna wasn’t successful in its attempted merger with Humana (NYSE:HUM), the blocked deal shouldn’t have too much residual effect. Aetna’s share price remains attractively valued, currently trading at 13 times expected earnings.
- [By Lisa Levin]
Humana Inc (NYSE: HUM) delivered better than expected results for the third quarter. However, the company’s adjusted EPS forecast came in below the estimates.
- [By Paul Ausick]
Late Thursday, reports began to trickle in that retail behemoth Walmart Inc. (NYSE: WMT) was in preliminary negotiations to acquire health insurer Humana Inc. (NYSE: HUM). Humana’s market cap of around $37 billion makes this a very big deal, even if the talks result in some sort of partnership between the two firms.
- [By Alex McGuire]
Meanwhile, the 61 healthcare stocks in the S&P 500 – such as AbbVie Inc. (NYSE: ABBV) and Humana Inc. (NYSE: HUM) – offer an average yield of 1.75%.
Top 5 Low Price Stocks To Own For 2018: Patni Computer Systems Limited(PTI)
- [By William Romov]
Before we show you our pick, here are the top 10 penny stocks to watch this week
Penny Stock Current Share Price Nov. 27-Dec. 1 Gain (as of Dec. 1)
Pyxis Tankers Inc. (Nasdaq: PXS) $4.10 122.83%
Ohr Pharmaceuticals Inc. (Nasdaq: OHRP) $1.28 68.42%
Cerecor Inc. (Nasdaq: CERC) $1.74 47.46%
Proteostasis Therapeutics Inc. (Nasdaq: PTI) $2.52 37.71%
UT Starcom Holdings Corp. (Nasdaq: UTSI) $5.20 37.20%
WMIH Corp. (Nasdaq: WMIH) $0.96 33.46%
PhaseRx Inc. (Nasdaq: PZRX) $0.90 30.29%
Bellerophon Therapeutics Inc. (Nasdaq: BLPH) $2.04 29.94%
EV Energy Partners LP (Nasdaq: EVEP) $0.86 27.76%
Catalyst Pharmaceuticals Inc. (Nasdaq: CPRX) $4.40 25.71%
FREE PROFIT ALERTS: Get real-time recommendations on the best penny stock opportunities the moment we release them. Just sign up here, its completely free
- [By Lisa Levin]
Proteostasis Therapeutics Inc (NASDAQ: PTI) shares shot up 162 percent to $6.16 after the company disclosed 'positive' PTI-428 data with statistical significance.
Top 5 Low Price Stocks To Own For 2018: Powell Industries Inc.(POWL)
- [By Lisa Levin]
Shares of Powell Industries, Inc. (NASDAQ: POWL) were down 14 percent to $40.06. Powell Industries reported Q4 adjusted earnings of $0.54 per share on sales of $129.8 million.
Top 5 Low Price Stocks To Own For 2018: Oaktree Capital Group, LLC(OAK)
- [By WWW.THESTREET.COM]
Position: Long GLD small, bonds, SDS; short TLT small, SPY small .
- [By WWW.MONEYSHOW.COM]
Oaktree Capital Group (OAK) is known for its contrarian approach with many of its products concentrating on distressed assets and turnaround situations.
- [By Dan Caplinger]
Asset management companies like Oaktree Capital Group (NYSE:OAK) have to deal with market volatility in two very different ways. On one hand, they have to produce the exceptional returns that keep them ahead of their peers even when conditions make it difficult. Yet even when they are able to outperform, asset managers also have to address the fears of their clients, many of whom start to flee in down markets even when their funds are holding up quite well.
- [By Benzinga News Desk]
President Donald Trump hinted he may intervene in the Justice Department’s Russia investigation, as a Senate panel advanced a measure to protect Special Counsel Robert Mueller: Link
USA GDP (QoQ) for Q1 2.30% vs 2.00% Est; Prior 2.90%
The University of Michigan's consumer confidence index for April is schedule for release at 10:00 a.m. ET.
The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.
Data on farm prices for the recent week will be released at 3:00 p.m. ET.
Stifel upgraded Facebook (NASDAQ: FB) from Hold to Buy
Morgan Stanley upgraded Acacia Communications (NASDAQ: ACIA) from Underweight to Equal-Weight
Jefferies downgraded Sunoco (NYSE: SUN) from Hold to Underperform
KBW downgraded Oaktree Capital (NYSE: OAK) from Outperform to Market Perform
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