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4 Biotech Stock Movers to Watch

Companies / BioTech May 03, 2018 - 11:04 AM GMT

By: Harry_Boxer

Companies

Biotechs continue to dominate our list of top charts to watch.

CASI Pharmaceuticals Inc. (CASI) rose 48 cents, or 7.2%, to $7.14 on 773,700 shares Tuesday. The move came on no news, although the stock soared in early April on news that China's Food and Drug Administration (CFDA) would convene a panel to discuss its cancer therapy, Evomela. The stock has been flagging since that move, but may be positioning to break out, with the next target at $10.


Heron Therapeutics, Inc. (HRTX) had a strong session Tuesday, up $1.25 to $31.55, although volume was a bit lower than average at 978,100 shares traded. The move came on no news from the biotech company, which in March announced positive clinical trials for its post-surgical pain drug. The stock has been consolidating since its surge on that news, and may be on the verge of a breakout. Next target is $36.

Immunomedics, Inc. (IMMU) leaped 83 cents to $19.04 on Tuesday, following up on Monday's 7.7% advance. The clinical-stage biopharma company announced today it will host a conference call to discuss its third-quarter financial results on May 9. The stock been steadily advancing since late 2016 in a beautiful parallel channel, though this year has been in a sideways pattern within that up-channel. It is now pushing against lateral resistance, a break through which could lead to $23.

Mirati Therapeutics, Inc. (MRTX) jumped $1.85 to $32.65 on lighter-than-normal volume of 366,800 shares Tuesday. Last week the company announced positive clinical trials data for its lung cancer therapies. After a surge from under $5 in September to $35 in March, the stock has been consolidating nicely. A move above $33.50 could position the stock to retest $37.

See Harry's video chart analysis on these stocks.

No holdings.

Harry

Harry Boxer is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis, and live chart presentations.

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Mr. Boxer's commentaries and index analysis represent his own opinions and should not be relied upon for purposes of effecting securities transactions or other investing strategies, nor should they be construed as an offer or solicitation of an offer to sell or buy any security. You should not interpret Mr. Boxer's opinions as constituting investment advice. Trades mentioned on the site are hypothetical, not actual, positions.

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