Unusual Biotech Movers (ASTM, BTRX, BCRX, CELG, NSTK, TRMS)
If you are a stem cell watcher, you may want to watch Aastrom Biosciences Inc. (NASDAQ: ASTM) as it reports earnings on Monday. Shares are down 3% at $0.40 today. With a $53 million market cap, this isn't the most influential stock tied to stem cells.
Barrier Therapeutics Inc. (NASDAQ: BTRX) saw some highly unusual movement with a 15% rise to $2.31 (52-week trading range $1.63 to $7.60).
BioCryst Pharmaceuticals Inc. (NASDAQ: BCRX) saw a continues drop of almost 7% to $2.73 today, and that is after a similar drop yesterday after the company's earnings report.
Celgene Corporation (NASDAQ: CELG) saw a 1% drop to $61.80. We saw a duel in analyst calls today, and generally speaking downgrades take away more 'ooomph' than upgrades can add on the same day, particularly when the downgrade is from a bulge bracket firm and the upgrade is by a boutique. Pacific Growth Equities raised its rating to Buy, but Credit Suisse lowered its rating to Neutral from outperform.
Nastech Pharmaceutical Company, Inc. (NASDAQ: NSTK) saw a drop of more than 8% to $1.19 after its earnings report yesterday. 52-week trading had been $1.25 to $17.05. Count that as a 52-week low.
Shares of Trimeras Inc. (NASDAQ: TRMS) are down 9% at $6.35 today after the company has unveiled its plans to return most of its cash to shareholders now that it is down to a whopping 10 employees. At $50, 5-years ago, this stock has gone from potential boom to bust. Why does the term biotech zombie ring a bell here????
Rachel Lopez
May 9, 2008
Barrier Therapeutics Inc. (NASDAQ: BTRX) saw some highly unusual movement with a 15% rise to $2.31 (52-week trading range $1.63 to $7.60).
BioCryst Pharmaceuticals Inc. (NASDAQ: BCRX) saw a continues drop of almost 7% to $2.73 today, and that is after a similar drop yesterday after the company's earnings report.
Celgene Corporation (NASDAQ: CELG) saw a 1% drop to $61.80. We saw a duel in analyst calls today, and generally speaking downgrades take away more 'ooomph' than upgrades can add on the same day, particularly when the downgrade is from a bulge bracket firm and the upgrade is by a boutique. Pacific Growth Equities raised its rating to Buy, but Credit Suisse lowered its rating to Neutral from outperform.
Nastech Pharmaceutical Company, Inc. (NASDAQ: NSTK) saw a drop of more than 8% to $1.19 after its earnings report yesterday. 52-week trading had been $1.25 to $17.05. Count that as a 52-week low.
Shares of Trimeras Inc. (NASDAQ: TRMS) are down 9% at $6.35 today after the company has unveiled its plans to return most of its cash to shareholders now that it is down to a whopping 10 employees. At $50, 5-years ago, this stock has gone from potential boom to bust. Why does the term biotech zombie ring a bell here????
Rachel Lopez
May 9, 2008
posted by Nico at
12:44 PM
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