Today’s Research Reports on Biotech Stocks to Watch: Celldex Therapeutics and Spectrum Pharmaceuticals
The Biotech Industry posted better gains this year as the “price gouging” concerns, which were a major problem for the industry in 2016, appears to have subsided. Additionally, the number of new drug approvals appears to be trending upwards in 2017. There have already been 14 new novel drug approvals in 2017, compared to just 22 new approvals in all of 2016.
The iShares NASDAQ Biotechnology Index ETF and the SPDR S&P Biotech ETF have posted year-to-date gains of 9.41 percent and 15.9 percent, respectively, compared to gains of 4.13 percent and 5.23 percent for the Dow Jones Industrial Average and the S&P 500 Index.
RDI Initiates Coverage on:
Celldex Therapeutics, Inc.
Spectrum Pharmaceuticals, Inc.
Celldex Therapeutics closed at $3.26 a share on Thursday. The stock traded between $3.22 and $3.30 on volume of 1.48 million shares traded. The company’s pipeline includes antibodies, antibody-drug conjugates and other protein-based therapeutics derived from a broad set of complementary technologies which have the ability to engage the human immune system and/or directly inhibit tumors to treat specific types of cancer or other diseases. Celldex reported revenues were $6.8 million in 2016, up from revenues of $5.5 million in 2015. Net loss totaled $128.5 million, or ($1.27) per share, in 2016, compared to a loss of $127.2 million, or ($1.31) per share, a year ago. Cash, cash equivalents and marketable securities as of December 31, 2016 were $189.8 million. Shares of Celldex Therapeutics have fallen approximately 7.91 percent year-to-date.
Access RDI’s Celldex Therapeutics Research Report at:
Spectrum Pharmaceuticals’ shares spiked 7.56 percent to close at $6.97 a share on Thursday. The stock traded between $6.47 and $6.98 on volume of 1.74 million shares traded. Spectrum and its subsidiaries have six FDA-approved oncology/hematology products and two products in late-stage development. The company recently presented three abstracts on ROLONTIS (eflapegrastim) and BELEODAQ (belinostat) for injections at the American Association for Cancer Research (AACR) Annual Meeting in Washington, D.C. Shares of Spectrum Pharmaceuticals have gained approximately 57.34 percent year-to-date.
Access RDI’s Spectrum Pharmaceuticals Research Report at:
Our Actionable Research on Celldex Therapeutics, Inc. (NASDAQ:CLDX) and Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI) can be downloaded free of charge at Research Driven Investing.
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