New Reports on Recent Market Movers BioLife, Coherus, GoPro and Lannett Company
July 12th, 2016 – After a steep sell-off triggered by Britain’s Brexit referendum, U.S. markets have rallied with the S&P 500 Index reaching a new intraday high of 2143.16 Monday. The Dow Jones Industrial Average gained 0.44 percent to close at 18,226.93, while the S&P 500 Index increased 0.34 percent to close at 2,137.16. Markets continued to benefit from a stronger-than-expected U.S. jobs report Friday. The Labor Department reported nonfarm payrolls increased by 287,000 in June, which was above the median forecast of 180,000, according to a recent Bloomberg survey. Register with us now for your free membership and gain access to our Daily Market Movers stock reports at: www.rdinvesting.com.
"You have Brexit and global stagnation, but underneath that we keep getting really good economic numbers and that is forcing the (stock) market to new highs," said Jim Paulsen, chief investment strategist at Wells Capital Management.
Here are Monday’s Market Movers:
Biolife Solutions Inc. (NASDAQ: BLFS)
Get Your Up-To-Date BioLife Solutions Research Report at www.rdinvesting.com/company/BLFS
BioLife Solutions’ shares soared 50.55 percent to close at $2.37 a share Monday. The stock traded between $2.34 and $3.58 on volume of 17.85 million shares traded. The stock appears to have some support at $2.46, $2.05 and $1.98. BioLife Solutions announced a ten year supply agreement with Kite Pharma for BioLife’s CryoStor clinical grade freeze media for cells and tissues. Mike Rice, BioLife President & CEO, commented, "We are honored that Kite has adopted CryoStor in their production process for truly remarkable and potentially life-saving cellular therapies.” Shares of BioLife Solutions have gained approximately 9.22 percent year-to-date and have gained roughly 49.1 percent in the past month.
Coherus Biosciences Inc. (NASDAQ: CHRS)
Get Your Up-To-Date Coherus Biosciences Research Report at www.rdinvesting.com/company/CHRS
Coherus Biosciences’ shares surged 27.35 percent to close at $21.93 a share Monday. The stock traded between $17.65 and $22.00 on volume of 1.86 million shares traded. The stock appears to be facing some resistance at $22.14 and $23.85 with some support at $20.24 and $19.50. The company announced that its CHS-1701 phar.macokinetic and pharmacodynamic biosimilarity study met all of its co-primary endpoints. Based on the totality of the data, including this clinical result as well as those from the previous PK/PD study and the successful immunogenicity study, we are confident that CHS-1701 is highly biosimilar to the reference product, Neulasta, and will produce the expected clinical effect in patients,” said Barbara Finck, M.D., Chief Medical Officer of Coherus BioSciences. Shares of Coherus Biosciences have fallen approximately 4.5 percent year-to-date, but have rallied roughly 37.0 percent in the past month.
GoPro Inc. (NASDAQ: GPRO)
Get Your Up-To-Date GoPro Research Report at www.rdinvesting.com/company/GPRO
GoPro’s shares spiked 13.31 percent to close at $12.43 a share Monday. The stock traded between $11.10 and $12.49 on volume of 13.47 million shares traded. The stock appears to be facing some resistance at $13.16 and $13.93 with some support at $12.04 and $11.70. According to MarketWatch, short interest in GoPro’s stock has jumped to a five month high of 26.9 million shares. The company has reported that Lauren Zalaznick, a NBCUniversal executive, will join its Board of Directors. Shares of GoPro have fallen approximately 31.0 percent year-to-date, but have rallied roughly 21.2 percent in the past month.
Lannett Company, Inc. (NYSE: LCI)
Get Your Up-To-Date Lannett Company Research Report at www.rdinvesting.com/company/LCI
Lannett Company shares gained 12.73 percent to close at $27.72 a share Monday. The stock traded between $25.25 and $28.10 on volume of 2.00 million shares traded. The stock appears to be facing some resistance at $36.40 with some support at $26.94 and $24.86. The company has received approval from the U.S. Food and Drug Administration (FDA) of its Abbreviated New Drug Application (ANDA) for Paroxetine Extended Release Tablets USP, which is the therapeutic equivalent of brand-name depression drug Paxil. Shares of Lannett Company have fallen approximately 30.9 percent year-to-date, but have rallied roughly 19.4 percent in the past month.
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