Biotech News Summary: 36 Hot Stocks to Watch

Posted by Keith Banks on Jan 25, 2013

The majority of biotech stocks failed to join a broad market rally on Thursday as losers exceeded gainers with Dyax Corp. (NASDAQ YAX) facing the biggest decline of 6.10%.

Oncothyreon Inc (USA) (NASDAQ:ONTY) declined 5.83% after Portfolio Grader recommended selling the stock..

Inovio Pharmaceuticals, Inc. (NYSEAMEX:INO) continued to decline after a Seeking Alpha article titled “This Could Be The Coming Out Year For Inovio Pharmaceuticals” claimed that the company potentially has a disruptive technology.

Cell Therapeutics Inc (NASDAQ:CTIC) lost 5.33% to settle at $1.42. Roth Capital was of a view, after attending the company’ Analyst Day, that its pacritinib drug has a material opportunity to become a treatment for myelofibrosis, or MF, given the drug’s differentiated profile of having a minimal effect on platelets. The rating firm reaffirms a $4 price target and Buy rating on the stock.
Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) and Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) both lost more than 4% while NuPathe Inc (NASDAQ ATH), VIVUS, Inc. (NASDAQ:VVUS), Sangamo Biosciences, Inc. (NASDAQ:SGMO), Peregrine Pharmaceuticals (NASDAQ PHM) and Galena Biopharma Inc (NASDAQ:GALE) all fell in a range of 2 to 3%.

Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) declined 2.37% after the company priced public offering of common stock.

PDL BioPharma Inc. (NASDAQ DLI) scored 5th decline in a row after Credit Suisse downgraded the stock from neutral to under perform and lowered the price target from $6.50 to $6.00.

MannKind Corporation (NASDAQ:MNKD) was down 1.15% as investors rages on as to whether its ultra-rapid inhalable insulin product Afrezza can ultimately gain approval and be commercially viable.

Celgene Corporation (NASDAQ:CELG) and Amgen, Inc. (NASDAQ:AMGN) both dropped on a profit fall in qtr 4.

Incyte Corporation (NASDAQ:INCY) decreased 0.71% after announcement came in that it has scheduled its fourth quarter/year-end 2012 financial results conference call for 8:30 a.m. ET on Thursday, February 14, 2013.

Theravance Inc (NASDAQ:THRX) fell 0.64% after Reuters’ reported it closed the sale of its previously declared underwritten public offering of $287.5 million aggregate principal amount of its 2.125% convertible subordinated notes due 2023.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) extended fall after receiving the Day 180 List of Outstanding Issues from the European Medicines Agency’s Committee for Medicinal Products for Human Use, or CHMP.

More on the flip side were Exelixis, Inc. (NASDAQ:EXEL), Halozyme Therapeutics, Inc. (NASDAQ:HALO) and Amicus Therapeutics, Inc. (NASDAQ:FOLD).

On the upside, Idenix Pharmaceuticals, Inc. (NASDAQ:IDIX) was the biggest gainer in the biotechnology industry after Reuters’ released a new report on hepatitis C
.
DARA Biosciences Inc (NASDAQ ARA) gained 6.40%, extending three-day winning streak.

Dendreon Corporation (NASDAQ NDN) rose on indication of extended near-term gains.

Gilead Sciences, Inc. (NASDAQ:GILD) advanced to new high after initiating Phase 3 of TAF on HIV-1.

Biogen Idec Inc. (NASDAQ:BIIB) rallied on news of upbeat results from a late-stage study on an experimental multiple sclerosis drug Avonex.

More stocks in green were Cytokinetics, Inc. (NASDAQ:CYTK), InterMune, Inc. (NASDAQ:ITMN), Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN), Hemispherx BioPharma, Inc (NYSEAMEX:HEB), Illumina, Inc.

(NASDAQ:ILMN), BioMarin Pharmaceutical Inc. (NASDAQ:BMRN), Sequenom, Inc. (NASDAQ:SQNM) and ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD).

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