Published on March 1, 2014
3 Humongous Health-Care Stocks This Week
While winter is definitely still here for most of the U.S., some health-care stocks are already generating a lot of heat. Here are the three most humongous health-care stocks of the past week. Source: Wikimedia Commons/
InterMune (Nasdaq: ITMN) Shares of the biotech soared 118% this week.
Why Intermune more than doubled • It announced phase 3 data for Esbriet. • The drug significantly reduced progression of idiopathic pulmonary fibrosis in patients. • InterMune plans to resubmit the New Drug Application for Esbriet by Q3 of this year.
Celladon (Nasdaq: CLDN) Shares of the biotech focusing on cardiovascular disease drugs jumped more than 49% this week.
Why Celladon took off • It announced that French drugmaker Servier optioned its novel SERCA2b modulators for treating type 2 diabetes and other metabolic diseases. • Servier gets exclusive global rights outside the U.S. • Celladon also benefited from two analysts initiating coverage this week -- Barclays with an “overweight” rating and Stifel with a “buy” rating.
Prana Biotechnology (Nasdaq: PRAN) Shares of the biopharmaceutical company surged nearly 41% higher for the week.
Why Prana pushed higher • Investment firm H.C. Wainwright upped its price target for Prana from $20.50 to $33 per share. • The stock experienced a rebound after a big sell-off two weeks ago. • That sell-off stemmed from Summer Street’s doubts about data for Prana’s PBT2, which targets treatment of Huntington’s and Alzheimer’s diseases.
Best pick to stay humongous? • Any or all of this week’s humongous stocks could keep moving up. • Celladon gets the nod for most likely to continue its winning ways. • The Servier deal is a huge vote of confidence for the biotech, which only recently went public. • Positive endorsements from major analysts should keep big money flowing into this stock.
Find out which stock The Motley Fool’s chief investment officer selected as the top pick for 2014 in our free report!
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