New York, NY / ACCESSWIRE / August 17, 2016 – The Biotech Industry has finally begun to trend upwards after a disappointing start to 2016. The iShares NASDAQ Biotechnology Index ETF (IBB) and the SPDR S&P Biotech ETF (XBI) have rallied approximately 11.2 percent and 18.2 percent, respectively, over the past three months. Over the past 5 years, the iShares NASDAQ Biotechnology Index ETF (NASDAQ: IBB) has gained approximately 220 percent, far outpacing the S&P 500 Index rise of roughly 85 percent. Some biotech may have been oversold in recent months as investors have dumped their higher risk investments as confidence began to wane in the overall markets. As a result, many companies could now potentially be bargains for investors. Register with us now for your free membership and gain access to our Biotech stock reports at: www.rdinvesting.com/subscribe-today/.
Arena Pharmaceuticals, Inc. (NASDAQ: ARNA)
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Arena Pharmaceuticals’ shares declined 3.51 percent to close at $1.65 a share Tuesday. The stock traded between $1.65 and $1.70 on volume of 874,634 shares traded. The stock appears to be facing some resistance at $1.68 and $1.71 with some support at $1.66 and $1.60. The company and Eisai Inc. have announced that the U.S. Food and Drug Administration (FDA) have approved the New Drug Application (NDA) for its weight-loss drug BELVIQ XR. "With approximately two-thirds of the U.S. population living with extra weight or obesity, there is a significant and growing need to address chronic weight management," said Louis J. Aronne, M.D., Director of the Comprehensive Weight Control Center at Weill Cornell Medicine, physician at NewYork-Presbyterian/Weill Cornell Medical Center and Principal Investigator of the BELVIQ clinical trials. Shares of Arena Pharmaceuticals have fallen approximately 13.2 percent year-to-date, but have rallied roughly 4.4 percent over the past three months.
Celldex Therapeutics, Inc. (NASDAQ: CLDX)
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Celldex Therapeutics’ shares declined 0.90 percent to close at $4.42 a share Tuesday. The stock traded between $4.39 and $4.53 on volume of 1.66 million shares traded. The stock appears to be facing some resistance at $4.50 with some support at $3.45 and $3.13. On July 11th, the company announced that it had initiated a Phase 1/2 study of CDX-014 in advanced renal cell carcinoma (RCC). “Selectively targeting TIM-1, which is expressed in the majority of metastatic renal cell carcinomas, presents a novel approach that could provide new options for patients. CDX-014 has also demonstrated an ability to effectively kill tumor cells without negatively impacting immune response in preclinical studies, which may make it an ideal candidate for future combination therapy.” said Thomas Davis, M.D., Executive Vice President and Chief Medical Officer of Celldex Therapeutics. Shares of Celldex Therapeutics have fallen approximately 71.8 percent year-to-date, but have rallied roughly 14.8 percent over the past three months.
Amicus Therapeutics, Inc. (NASDAQ: FOLD)
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Amicus Therapeutics’ shares declined 2.10 percent to close at $7.00 a share Tuesday. The stock traded between $6.96 and $7.21 on volume of 1.36 million shares traded. The stock appears to be facing some resistance at $7.18 and $7.60 with some support at $6.97 and $6.47. On July 6th, the company announced expanded its biologics pipeline with a new preclinical program for cyclin-dependent kinase-like 5 (CDKL5) deficiency, a rare and devastating genetic neurological disease for which there is no currently approved treatment. Shares of Amicus Therapeutics have fallen approximately 27.8 percent year-to-date, but have rallied roughly 3.1 percent over the past three months.
Halozyme Therapeutics, Inc. (NASDAQ: HALO)
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Halozyme Therapeutics’ shares fell 4.32 percent to close at $9.96 a share Tuesday. The stock traded between $9.95 and $10.39 on volume of 1.07 million shares traded. The stock appears to be facing some resistance at $10.15 and $10.40 with some support at $9.92 and $9.61. The FDA granted orphan drug designation to Halozyme’s PEGPH20 for treatment of pancreatic cancer and fast track for PEGPH20 in combination with gemcitabine and nab-paclitaxel for the treatment of metastatic pancreatic cancer. The company is scheduled to release results for the second quarter of 2016 after market close on Tuesday, August 9th. Shares of Halozyme Therapeutics have fallen approximately 42.5 percent year-to-date, but have rallied roughly 9.7 percent over the past three months.
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