Today’s Research Reports on Trending Tickers: Puma Biotechnology and Amicus Therapeutics
U.S. markets slumped Tuesday, with the Dow Jones breaking an 8-day win streak, as interest rates surged to new highs. The Dow Jones Industrial Average declined 0.78 percent to close at 24,706.41, while the S&P 500 Index fell 0.68 percent to close at 2,711.45. The Nasdaq Composite Index dropped 0.81 percent to close at 7,351.63. The yield on the benchmark U.S. 10-year Treasury note touched 3.09 percent, the highest since 2011.
“In and of itself, 3% isn’t significant, but it is psychologically important, and it comes at an uncertain time for the equity market,” said Stephen Wood, chief market strategist for Russell Investments, according to CNBC.
“We’ve been in a good economic environment, but one that’s aging, and we’ve been seeing good earnings growth, although that cycle is also aging. Fundamentals aren’t improving enough to justify valuations, and when one considers that with the backdrop of a Fed that’s raising interest rates, the market will start re-rating its risk profile. You can expect that to last for a while, and for markets to be a lot more volatile as it goes on.”
RDI Initiates Coverage on:
Puma Biotechnology, Inc.
Amicus Therapeutics, Inc.
Puma Biotechnology’s stock jumped 5.11% Tuesday, to close the day at $54.50. The stock recorded a trading volume of 932,164 shares, which was above its three months average volume of 811,768 shares. In the last year, Puma Biotechnology’s shares have traded in a range of 31.10 – 136.90. The share price has gained 75.24% from its 52 week low. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $63.74 is below its 200-day moving average of $82.69. Shares of Puma Biotechnology have fallen roughly 17.92 percent in the past month and are down 44.87 percent year-to-date.
Access RDI’s Puma Biotechnology, Inc. Research Report at:
On Tuesday, shares of Amicus Therapeutics recorded a trading volume of 1,698,033 shares, which was below the three months average volume of 2,776,416 shares. The stock ended the day 3.30% higher at $14.71. The share price has gained 98.52% from its 52 week low with a 52 week trading range of 7.41 – 17.40. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $14.15 is below its 200-day moving average of $14.39. Shares of Amicus Therapeutics have gained roughly 2.37 percent in the past month and are up 2.22 percent year-to-date.
Access RDI’s Amicus Therapeutics, Inc. Research Report at:
Our Actionable Research on Puma Biotechnology, Inc. (NASDAQ:PBYI) and Amicus Therapeutics, Inc. (NYSE:FOLD) can be downloaded free of charge at Research Driven Investing.
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
For any questions, inquiries, or comments reach out to us directly at:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.