Last week’s top gainer was PTC Therapeutics followed by Cogentix Medical, Concordia International, Galectin Therapeutics and XOMA.
The NASDAQ Biotechnology index (INDEXNASDAQ:NBI) had a good week. The index jumped mid-week to a high of 3,0698.998 points but closed slightly lower at 3,012.29 points by market close on Friday.
Donald Trump’s victory in the US elections last week heated up the biotech sector, but another winner was big pharma with the defeat of Proposition 61, or California’s Drug Price Relief Act.
Looking at the week’s gainers, companies gained as much as 88 percent over the five day trading period. Included among last week’s top gainers were:
- PTC Therapeutics (NASDAQ:PTCT)
- Cogentix Medical (NASDAQ:CGNT)
- Concordia International (NASDAQ:CXRX)
- Galectin Therapeutics (NASDAQ:GALT)
- XOMA (NASDAQ:XOMA)
Here is a closer look at last week’s top gainers:
PTC Therapeutics shares jumped on Friday, following the company’s announcement that the Committee for Medicinal Products for Human Use of the European Medicines Agency recommended the marketing authorization renewal of Translarna™, a a protein restoration therapy for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD) in ambulatory patients five years and older. Translarna is an investigational new drug in the United States.
Shares of PTC Therapeutics were up by 88.33 percent over the five day trading period, and ended the week at $11.30 per share.
Cogentix Medical is a medical device company that designs, develops, manufactures and markets a line of fiber-optic and video endoscopy products. Shares of Cogentix Medical were up by 33.73 percent over the five day trading period, and ended the week at $2.22 per share.
Concordia International is a Canada-based pharmaceutical company with a focus on Attention-Deficit Hyperactivity Disorder, cancer and asthma. Last week, shares of Concordia were up by 25.78 percent over the five day trading period, and ended the week at $2.83 per share.
Galectin Therapeutics, a clinical-stage biopharmaceutical company focused on fibrotic disease and cancer, is no stranger to our top gainers list. Last week, the company announced results from its psoriasis and atopic dermatitis clinical trials.
Shares of Galectin Therapeutics were up by 17.42 percent over the five day trading period, and ended the week at $0.91 per share.
XOMA is focused on therapeutic antibodies. Last week, the company announced its financial results for Q3, which included total revenues of $0.6 million for the three months ended September 30, 2016.
Shares of XOMA were up by 16.05 percent over the five day trading period, and ended the week at $6.58 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, Pia Rivera, hold no direct investment interest in any company mentioned in this article.
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