Penn West Petroleum (NYSE:PWE)- Truces Call By Bulls and Bears: Genocea Biosciences (NASDAQ:GNCA)

Shares of Penn West Petroleum Ltd. (NYSE:PWE) [Trend Analysis] runs in leading trade, it moving up 1.05% to trade at $1.93. The firm has price volatility of 3.63% for a week’s and 3.78% for a month. Its beta stands at 4.41 times. PENN WEST PETROLEUM LTD. (NYSE) reported a 2017 total capital budget of $180 million. Our 2017 capital budget is expected to provide approximately 15% production growth in our key development areas from the fourth quarter of 2016 to the fourth quarter of 2017 and to provide ample flexibility to respond to commodity price as we utilize only 80% of accessible funds flow from operations.

Penn West is announcing a leadership transition effective immediately. David Dyck, Chief Financial Officer, and Gregg Gegunde, Senior Vice President of Exploitation, Production and Delivery, will be departing the Company. Mr. Dyck has served in his current role for nearly three years, and Mr. Gegunde has served Penn West for over 18 years in a variety of leadership roles. In the fourth quarter, we completed our second half drilling program of 5 Cardium wells, 11 Alberta Viking wells, and 19 Peace River oil wells.

The second half 2016 drilling program contributed over 3,000 boe per day of production on December 31, 2016.In the J-Lease area of Pembina, we successfully fracture-stimulated the 2 wells drilled in late September using a cemented liner system, and brought the wells on production November 9th. The wells encountered higher than expected pressure and have recently been optimized and are performing at 130 bbls of oil per day per well. Narrow down four to firm performance, its weekly performance was 11.05% and monthly performance was 6.11%. The stock price of PWE is moving up from its 20 days moving average with 8.55% and isolated positively from 50 days moving average with 13.80%.

Genocea Biosciences, Inc. (NASDAQ:GNCA) [Trend Analysis] luring active investment momentum, shares an advance 0.64% to $4.75. Genocea Biosciences Inc. (GNCA) declared that positive clinical results from a planned interim analysis of its ongoing placebo-controlled Phase 2b trial evaluating GEN-003 for the treatment of genital herpes infections. Even in a trial this small, at six months after dosing, GEN-003 demonstrated statistically important improvements versus placebo across multiple clinical endpoints.

The 60 µg per antigen / 50 µg of adjuvant dose of GEN-003 importantly reduced the rate of genital lesions during the six months following dosing compared to placebo (4.5 percent of days vs. 7.9 percent, respectively; 41% reduction vs. placebo, p<0.05). The genital lesion rate is an important overall measure of disease that captures both the frequency and duration of recurrences, both of which are important to both patients and their caregivers.

In the trial, GEN-003 also consistently demonstrated important benefits versus placebo across several other clinical endpoints across the dose groups. The total volume of 66342 shares held in the session was surprisingly higher than its average volume of 252.92 shares. EPS estimates indicating constrictive facts, the current year from sell-side analysts, Price to current year EPS stands at 23.50%, and looking further price to next year’s EPS is -4.90%. While take a short look on price to sales ratio, that was 271.31.

 

About Gerard Bergeron

Gerard Bergeron covers Bio-pharmacy or healthcare sector Press Releases news updates. He has extensive three year of experience in content writing as freelance writer. He performs analysis of Healthcare Companies and provides worthy information for investor community. He is an experienced writer with a precise grasp of the English language and a clear, compelling writing style.

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