Home / Biopharma / Volatile Stocks Under Street Updates: Biogen (NASDAQ:BIIB), Orexigen Therapeutics (NASDAQ:OREX), Portola Pharmaceuticals (NASDAQ:PTLA)

Volatile Stocks Under Street Updates: Biogen (NASDAQ:BIIB), Orexigen Therapeutics (NASDAQ:OREX), Portola Pharmaceuticals (NASDAQ:PTLA)

Biogen Inc. (NASDAQ:BIIB) [Trend Analysis] retains strong position in active trade, as shares scoring 0.28% to $282.79 in a active trade session, while looking at the shares volume, around 1.26 Million shares have changed hands in this session. The U.S. FDA permitted a once-monthly injection for multiple sclerosis from Biogen Inc and AbbVie Inc, with a boxed warning. The self-administered, under-the-skin injection, Zinbryta, is designed to treat adults with relapsing forms of the disease.

Zinbryta should generally be used in patients who have not benefited from at least two prior therapies as the drug poses serious safety risks, the FDA said. Accordingly, the approval comes with a boxed warning – the most severe issued by the FDA to underscore risks, including liver injury and immune conditions. Zinbryta, or daclizumab, was recommended for approval by European regulators in April. The firm has institutional ownership of 88.40%, while insider ownership included 0.10%. BIIB attains analyst recommendation of 2.10 with week’s performance of 7.26%. Investors looking further ahead will note that the Price to next year’s EPS is 6.63%.

Orexigen Therapeutics, Inc. (NASDAQ:OREX) [Trend Analysis] knocking active thrust in leading trading session, shares an advance of 1.68% to 0.42 with around 1.36 Million shares have changed hands in this session. Orexigen Therapeutics, Inc. (OREX) declared that Orexigen co-founder and former Chairman, Eckard Weber, M.D., has resigned from the Board of Directors. Dr. Weber served as Chairman from 2002 until earlier this year.

From November 2008 until March 2009, Dr. Weber also served as interim President and Chief Executive Officer. Dr. Weber is a partner at venture capital firm Domain Associates, LLC, where he focuses on early stage investments and the formation and management of new companies. Domain Associates owns approximately 11.3 million shares of Orexigen common stock, and Domain partner Brian Dovey will remain on Orexigen’s Board of Directors. The stock is going forward its fifty-two week low with 19.11% and lagging behind from its 52-week high price with -91.97%.

Likewise the positive performance for the quarter recorded as -41.28% and for the year was -91.49%, while the YTD performance remained at -75.76%. OREX has Average True Range for 14 days of 0.04.

Shares of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) [Trend Analysis] swings enthusiastically in regular trading session, it an advance of 4.60% to close at $27.50. Portola Pharmaceuticals Inc. (PTLA) revealed that full results of its pivotal Phase 3 APEX (Acute Medically Ill VTE Prevention with Extended Duration Betrixaban) Study were presented for the first time in a late-breaking clinical trial session at the 62nd Annual International Society on Thrombosis and Haemostasis (ISTH) Scientific and Standardization Committee (SSC) Meeting. Full results from the APEX trial were published simultaneously online in The New England Journal of Medicine.

Portola announced topline results from the APEX trial in March 2016. APEX, which enrolled 7,513 patients at more than 450 clinical sites worldwide, assessed the superiority of extended-duration betrixaban for 35 days compared to standard-duration enoxaparin for 10+4 days. The trial was designed in cooperation with the FDA and EMA to incorporate a novel patient enrichment and statistical analysis plan derived from the 2012 FDA guidance document on enrichment strategies for clinical trials. , PTLA  stock is going forward its fifty-two week low with 51.10% and lagging behind from its 52-week high price with -52.55%. PTLA last month stock price volatility remained 6.88%.


About Blake Escott

Blake Escott holds junior writer position in SWR. Before joining Streetwise Report, he was a freelance content Writer. He has high-level copywriting experience and particularly experienced in proofreading and editing. He covers news about different companies including all US market sectors. Interests: Commodities, Energy stocks, Sector-wise Stocks analysis, Utilities

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