CHICAGO, Dec. 5, 2013 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the Celgene (Nasdaq:CELG-Free Report), Biogen (Nasdaq:BIIB-Free Report), Gilead (Nasdaq:GILD-Free Report), Orexigen (Nasdaq:OREX-Free Report) and Cubist (Nasdaq:CBST-Free Report).
(Logo: http://photos.prnewswire.com/prnh/20101027/ZIRLOGO)
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Wednesday's Analyst Blog:
Biotech Stock Roundup
Last week, three biotech majors, Celgene (Nasdaq:CELG-Free Report), Biogen (Nasdaq:BIIB-Free Report) and Gilead (Nasdaq:GILD-Free Report) touched new 52-week highs as they continued to benefit from positive updates in the EU, announced in the previous week.
Orexigen Gains on LIGHT Data: Orexigen (Nasdaq:OREX-Free Report) presented positive interim data on its obesity candidate, Contrave, from the Light study last week. A goal set by the FDA was achieved in the study with no new safety signals materializing.
With the encouraging cardiovascular outcomes data in hand, Orexigen is set to seek FDA approval for Contrave, again (the FDA had refused to approve Contrave earlier), and could well be on the path to approval by Jun 2014. What makes this even more interesting is that the FDA had earlier refused to approve Contrave due to concerns regarding the candidate's cardiovascular safety profile.
The Light data will also come in handy in answering any questions that may be posed by the EU regulatory authorities where Contrave is currently under review.
Shares were up 9.3% immediately after the data was released and up 20% by the end of the week. The Light data means a lot to Orexigen which will most likely be the third entrant in the obesity market in recent times. Belviq and Qsymia, two recently launched drugs, are yet to make a mark in the highly lucrative obesity market.
Contrave, with its efficacy profile and the Light data, could well become a success story in the obesity market. Currently, chances of gaining FDA approval by June look pretty good, and partner Takeda is already preparing for commercialization. An additional bonus would be EU approval, potentially in the second half of 2014, where Belviq and Qsymia are yet to be approved. There could also be more partnership deals round the corner.
So Orexigen has a lot going for it – possible regulatory approvals, extensive data, a strong marketing partner, additional partnership deals – this is definitely a stock to watch out for.
Cubist Hits 52-Week High: Shares of Cubist (Nasdaq:CBST-Free Report) jumped 8% with the company reporting promising phase III data on its experimental antibiotic - ceftolozane/tazobactam for complicated urinary tract infections. Ceftolozane/tazobactam met the primary endpoint of statistical non-inferiority compared to levofloxacin. In fact, even though the study was not conducted to demonstrate superiority, results indicated statistical superiority over levofloxacin.
The safety profile also looked fine and was consistent with earlier studies. Up next is data from a phase III study in patients with complicated intra-abdominal infections – this should be out later this month and expectations are high for positive results.
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today.
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros.
Get the full Report on CELG - FREE
Get the full Report on BIIB - FREE
Get the full Report on GILD - FREE
Get the full Report on OREX - FREE
Get the full Report on CBST - FREE
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
SOURCE Zacks Investment Research, Inc.
Share this article