The NASDAQ Biotechnology Index (INDEXNASDAQ:NBI) was down 1.62 percent over the last five trading days and ended the week at 3,036.19 points. The Index is up 9.5 percent year-to-date.
Last week Republicans turned down President Trump and House Speaker Paul Ryan’s plan to repeal and replace Obamacare with a new health care bill. Ultragenyx Pharmaceutical failed a trial for a rare genetic disorder, sending its stock price down.
Here is a closer look at the top five NASDAQ gainers in the biotechnology and pharmaceuticals space:
- Nektar Therapeutics (NASDAQ:NKTR)
- Idera Pharmaceuticals (NASDAQ:IDRA)
- Ekso Bionics Holdings (NASDAQ:EKSO)
- Pulmatrix (NASDAQ:PULM)
- OraSure Technologies (NASDAQ:OSUR)
This clinical-stage biopharmaceutical has a pipeline of products involved in treatment for areas like cancer, autoimmune diseases, and chronic pain. The company announced positive results from NKTR-181, an opioid analgesic set to be non-addictive.
Nektar Therapeutics gained 44.71 percent over the five-day trading week and ended at $22.42 per share.
Idera seeks to treat cancers and rare diseases like melanoma and dermatomyositis. The company recently posted its fourth quarter and 2016 financial results, where it claimed they would be looking into researching the full potential of one of their lead products IMO-2125. However, there has been no further recent news from the company to explain last week’s rise in share price.
Idera Pharmaceuticals gained 20.39 percent over the five-day trading week and ended at $2.48 per share.
This company develops robotic exoskeletons to help patients recovering from injuries by promoting mobility and help correct the posture of the user. Last week the company appointed a new board member a healthcare veteran Howard Palefsky. However, there has been no further recent news from the company to explain last week’s rise in share price.
Ekso Bionics gained 17.48 percent over the five-day trading week and ended at $3.84 per share.
This biotechnology company seeks to create therapies to treat chronic respiratory diseases. Last week the company received a patent in Europe for its iSPERSE inhaled drug technology.
Pulmatrix gained 14.56 percent over the five-day trading week and ended at $3.54 per share.
OraSure is working on developing medical devices designed to detect or diagnose critical medical conditions. The company was listed in the S&P SmallCap 600 (INDEXSP:SP600) last week.
OraSure Technologies gained 11.69 percent over the five-day trading week and ended at $12.13 per share.
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Data for 5 Top NASDAQ Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the biotechnology and pharmaceutical sectors are considered.
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Related reading, previous gainers: