IBD Weekly Top Ranked Medical Stocks…
The following list represents the top ten medical stocks ranked according to Earnings Per Share and Relative Strength by Investor’s Business Daily (09/30/06):
scores out of 100 (last week’s rank, change in score):
1(1) Lifecell [LIFC] EPS=99 RS=94(+1)
2(2) Abaxis [ABAX] EPS=98 RS=92(-1)
3(3) Icon [ICLR] EPS=93 RS=96
4(7) Systems Xcellence [SXCL] EPS=90 RS=98
5(6) Parexel [PRXL] EPS=92 RS=95(-1)
6(-) Gilead Sciences [GILD] EPS=98 RS=88
7(4) Wellcare [WCG] EPS=94 RS=92(-3)
8(8) Immucor [BLUD] EPS=95 RS=90(-1)
9(-) Bio Reference Labs [BRLI] EPS=94 RS=89
10(-) Celgene [CELG] EPS=97 RS=86
_
Human Genome Sciences HIV Drug Positive In Phase 1
Human Genome Sciences (HGSI) announced following end of trading on Friday that its human monoclonal antibody, HGS004, was tolerated in HIV patients and showed anti-viral activity.
HGS004 specifically targets the chemokine recepter CCR5 that research has shown to have a large role in HIV infections.
The company’s other CCR5 drug candidate is HGS101 which is 5.5 times more potent than HGS004 so far in in vitro trials.
Human Genome Sciences will take time to consider its future plans in regards to the best candidate to advance through clinical trials. It might also consider advancing both candidates.
Shares of Human Genome Sciences dropped 1.62% to end trading at $11.54 a share.
It would be interesting to observe how the stock will open on Monday following this positive news.
_
Friday’s Top Stocks in Biotech and Healthcare
Biotechnology
BIOSANTE PHARMA INC [BPA] +20.00%
XTL BIOPHARMACEUTICA [XTLB] +11.06%
SGX PHARMACEUTICALS [SGXP] +10.73%
ACCENTIA BIOPHARMACE [ABPI] +8.86%
IDERA PHARMACEUTICAL [IDP] +7.89%
Diagnostic Substances
CYTOGEN CORP [CYTO] +7.31%
VALERA PHARMACEUTICA [VLRX] +6.66%
AVIGEN INC [AVGN] +3.61%
SCOLR PHARMA INC [DDD] +2.74%
ORCHID CELLMARK INC [ORCH] +2.21%
Drug Delivery
SYMBOLLON PHARM CL A [SYMBA.OB] +19.05%
NOVADEL PHARMA INC [NVD] +5.65%
ALKERMES INC [ALKS] +5.18%
COLUMBIA LABS INC [CBRX] +2.67%
MATRIXX INITIATVS [MTXX] +2.48%
Drug Manufacturers
QUICK-MED TECHNOLOG [QMDT.OB] +11.76%
ALPHARMA INC [ALO] +8.29%
NEUROGEN CP [NRGN] +6.14%
KOS PHARMACEUTCL [KOSP] +5.19%
CUBIST PHARMACEUTC [CBST] +5.13%
_
Multicell Up 70% As Immune Modulation Patent Filed
Multicell Technologies (MCET.OB) shares skyrocket 70% intra-day as the company announced it has filed a key patent covering its immune modulation method for treating cancers.
Currently, Multicell is focusing on treating cancer and other conditions by modulating the immune system. This Provides a platform from which advanced drug candidates can be developed to alter the immune system, and enable disease-specific targeting.
The latest patent filed entitled, “Methods for Tumor Control and Treatment by Loading an Antigen Presenting Cell”, covers the company’s dsRNA and Toll-like receptor (TLR) technology for fighting malignant tumors in humans.
Multicell’s most advanced profram is MCT-125 for Chronic Fatique Syndrome in Multiple sclerosis sufferers, and has successfully completed phase 2 trials.
Other programs include, MCT-175, MCT-275, MCT-465 for relapsing-remitting MS, type 1 diabetes, and pulmonary influenza infections respectfully, and are all in preclinical testing.
Multicell stock is up 70% at $0.45 a share mid-day trading.
_
Corcept Plummeting On Negative News, Going For Strike Three
Corcept Therapeutics (CORT) is down more than 60% in pre-market trading as the company announced that its second try at a phase 3 trial for its anti-psychotic drug Corlux failed to meet its endpoint in treating Psychotic Major Depression (PMD).
Its earlier phase 3 trial had shown a similar high placebo effect observed in this study.
The company will still enroll patients in its third planned phase 3 study for Corlux, and has said its $17 million in cash and marketable securities is enough to see the study to completion.
Investors are not too happy as shares have already dropped to almost two quarters worth. This follows a similar 50% drop late August after the company released the negative news from its first phase 3 trial.
It is interesting to note that both the volume and price of shares trading hands over the last couple of days were rising, especially at end of trading on Thursday.
No doubt, investors were looking for positive news, but following today’s announcement it seems Corcept is on its way to striking out.
_
Nasdaq Biotech Index Up As Threshold Gains On FDA Decision
The NBI ended trading up almost 1% as biotechs were generally in the green today.
Threshold Pharmaceuticals (THLD) gained almost 13% on the day as the company announced that the FDA had granted Glufosfamide, its pancreatic cancer drug, Orphan Drug Status. Glufosfamide is currently in phase 3 as a second-line treatment for pancreatic cancer, and phase 2 in combination with Gemcitabine as a first line treatment.
Abraxis BioScience (ABBI) shares gaind more than 7% on the day after the company announced that the European Medicines Agency accepted its application for Abraxane for treatment of breast cancer. Abraxane is coated paclitaxel, and utilizes albumin coating and delivery system technology developed by Abraxis. The typical wait for a decision by the European Medicines Agency is about 12 months.
_
Today’s Top Stocks in Biotech and Healthcare
Biotechnology
HESKA CORPORATION [HSKA] +10.53%
CORCEPT THERAPEUTICS [CORT] +10.08%
PHARMACOPEIA DRUG [PCOP] +8.65%
IDM PHARMA INC [IDMI] +7.78% $0
DISCOVERY LABS INC [DSCO] +7.14%
Diagnostic Substances
THRESHOLD PHARMACEUT [THLD] +12.80%
ASPENBIO PHARMA INC [APNB.OB] +12.50%
NYMOX PHARM CORP [NYMX] +12.45%
CYTOGEN CORP [CYTO] +6.83%
SCOLR PHARMA INC [DDD] +6.39%
Drug Delivery
NOVADEL PHARMA INC [NVD] +6.19%
MATRIXX INITIATVS [MTXX] +5.69%
INSITE VISION INC [ISV] +5.37%
BIOPROGRESS PLC [BPRG] +3.66%
FLAMEL TECH SA ADR [FLML] +2.95%
Drug Manufacturers
ABRAXIS BIOSCIENCE [ABBI] +7.41%
NEUROGEN CP [NRGN] +6.72% $233.1 M
PHARMAXIS LTD ADR [PXSL] +5.93% $0
PROTALEX INC [PRTX.OB] +5.33% $0
NITROMED, INC. [NTMD] +4.92% $554.6 M
_
Biovail Sued By Former Bank of America Analyst
Former Bank of American (BAC) Jerry Treppel has filed suit against Canadian pharmaeutical company Biovail Corp (BVF) claiming the company pressured his former employer to fire him.
Treppel was a former analyst with BofA and covered Biovail. The problems started when he released a sell recommendation claiming that Biovail had committed fraud in acquiring a key patent for a hypertensive drug back in 2002.
Of course Biovail was angered and contacted BofA to discuss Treppel’s claims, and the fact that he also had a long position in shares of its competitor Andrx (ADRX) also entered the conversation.
Shortly there after Treppel was released from his duties. What did Treppel have to say?
He claims the shares of Andrx were held in an account someone else was managing, and BofA fired him only because it looked like Biovail might hand over a lawsuit of its own.
Sell recommendations are not that common when it comes to coverage of small biotech and technology companies. ‘Hold’ is usually the popular alternative.
Still, a sell recommendation alone should not have angered Biovail. The fact that Treppel held Andrx shares in personal accounts also does not merrit any reactions, especially one where the company would be motivated to complain to his employer.
However, if Treppel did in fact claim that Biovail had committed fraud then he better have solid proof or he stands to lose a lot more than his job.
_
Amgen’s Buy-out of Abgenix Pays Off
Earlier this year biotech giant Amgen (AMGN) bought out Abgenix on the hopes that its potential blockbuster drug for metastatic colorectal cancer would be a big hit.
The deal paid off as Amgen announced after the markets closed on Wednesday that the FDA approved Vectibix, a fully human monoclonal anti-EGF to fight colorectal cancer, for sale in the U.S. while approval in Canada and Europe still awaits. The company expects sales to begin in October, and to cost as much as 20% less than competing drugs.
Vectibix works by binding to and disrupting epidermal growth factors (EGFs) that play a role in the regulation of cell growth, including cancerous cells. It has been shown that the drug can reduce the progression of metastatic colorectal cancer in patients, and is the first fully human anti-EGF to be approved by the FDA.
It is estimated that as many as 150,000 new cases of colon cancer and about 42,000 cases of rectal cancer will be diagnosed this year.
Amgen is also looking into the use of Vectibix in treating other forms of cancer.
Shares of Amgen closed almost 2% higher by regular hours trading, and continued to gain after the markets closed.
_
Today’s Top Stocks in Biotech and Healthcare
Biotechnology
DIVERSA CORP [DVSA] +16.36%
HOLLIS-EDEN PHARM [HEPH] +10.96%
BIO-MATRIX SCIENTIFI [BMSN.OB] +10.00%
NOVAVAX INC [NVAX] +7.75%
STRATAGENE CORP [STGN] +7.64%
Diagnostic Substances
IMMUCELL CP [ICCC] +8.32%
ISTA PHARMACTLS [ISTA] +6.48%
ABAXIS INC [ABAX] +5.98%
EZ EM INC [EZEM] +5.66%
MONOGRAM BIOSCIENCES [MGRM] +5.52%
Drug Delivery
GENEREX BIOTECH CORP [GNBT] +9.37%
NEKTAR THERAPEUTIC [NKTR] +4.50%
FLAMEL TECH SA ADR [FLML] +4.18%
ALKERMES INC [ALKS] +3.32%
BIOVAIL CORP [BVF] +2.73%
Drug Manufacturers
SINOVAC BIOTECH LTD [SVA] +13.58%
PHARMAXIS LTD ADR [PXSL] +9.77%
AVANIR PHARMACEUTICL [AVNR] +9.41%
NEUROCHEM INC [NRMX] +6.58%
ALEXZA PHARMACEUTICA [ALXA] +5.95%
_