5 Top NASDAQ Biotech Stocks: Alexza Pharmaceuticals, Vericel Corporation up Nearly 40 Percent

Despite the short trading week, the NASDAQ Biotechnology index (INDEXNASDAQ:NBI) closed slightly higher on Thursday at 0.55 percent, gaining 14.65 points to end at 2,671.63 points. 
While companies may not have had a full five days to reap the benefits of trading, there are some who posted gains. This week’s top gaining stock was Alexza Pharmaceuticals (NASDAQ:ALXA). The runners up for the week included Vericel Corporation (NASDAQ:VCEL), Onconova Therapeutics (NASDAQ:ONTX), Galena Therapeutics (NASDAQ:GALE) and Akorn Inc. (NASDAQ:AKRX).

Alexza Pharmaceuticals

Alexza Pharmaceuticals hasn’t posted any recent news since releasing its 2015 year end financial results on March 15. The company is focused on research, development and commercialization of products for the acute treatment of the central nervous system. The company’s product pipeline includes the candidate AZ-002, which is based on the Staccato system, a hand-held inhaler designed to deliver a pure drug aerosol to the deep lung to provide rapid systemic delivery and therapeutic onset in a non-invasive way. AZ-002 is aimed at management of epilepsy in patients with acute repetitive seizures. The company’s AZ-007 is aimed at treating patients withe middle of the night insomnia.
Giving the company a boost this week was a vote of confidence in the form of “buy” ratings from Zachs Research. Alexza traded up 39.41 percent this week, ending the trading period at $0.74.

Vericel Corporation

After posting gains over 100 percent mid- March, Vericel is back again having posted gains of 38 percent. The company hasn’t released news in several weeks, however, earlier in the week Zachs Research assigned the company a positive Growth Style Score. A Growth Score considers companies financials and the growth outlook for the company.
Vericel ended the week at $6.08.

Onconova Therapeutics

As a Phase 3-stage biopharmaceutical company, Onconova Therapeutics is focused on discovering and developing novel small molecule drug candidates to treat cancer. The company has developed a pipeline of targeted anti-cancer agents, which are designed to work against specific cellular pathways. Onconova has three product candidates that are currently in clinical trials.
Earlier in the week the company announced that it had enrolled its first European patient in the Phase 3 INSPIRE trial for IV rigosertib as a treatment for higher-risk myelodysplastic syndromes (HR-MDS) following failure of hypomethylating agent (HMA) therapy.
This week the company was up 30.34 percent, closing on Thursday at $0.61.

Galena Biopharma

Galena is an immuno-oncology company focused on the growing population of cancer survivors by harnessing the power of the immune system in order to prevent a relapse. The company has not posted any recent news, however, the company has received a “buy” rating from eight ratings firms.
The company was up 27.73 percent for the week. Galena ended the week at $1.06.

Akorn, Inc.

Akorn, Inc. develops, manufactures and markets generic and branded prescription pharmaceuticals as well as animal and consumer health products. THe company also specializes in difficult-to-manufacture sterile and non-sterile dosage forms including ophthalmics, injectables, oral liquids, otics, topicals, inhalants, and nasal sprays.
This week the company announced its preliminary unaudited full year financial results for 2015. The company expects its net revenue for 2015 to be approximately $985 million and preliminary GAAP diluted earnings per share to be expected to be $1.14. Preliminary non-GAAP adjusted EPS for 2015 is expected to be $1.93.
The company gained 27.66 percent for the week.
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, Vivien Diniz, hold no direct investment interest in any company mentioned in this article.
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