3 Biotech Stocks Making Big Moves on Drug Data

Drugmakers Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP), Repros Therapeutics Inc (NASDAQ:RPRX), and ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) are making big moves on the charts

May 19, 2016 at 10:54 AM
facebook X logo linkedin


Biotech stocks are on the move this morning, with several companies revealing upbeat drug trial results -- but not all of the shares are soaring higher. Among the drugmakers making big moves on the charts today are Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP), Repros Therapeutics Inc (NASDAQ:RPRX), and ZIOPHARM Oncology Inc. (NASDAQ:ZIOP).

TNXP is up 9% at $3.16, after announcing positive results in a mid-stage study of its post-traumatic stress disorder (PTSD) drug, TNX-102 SL. The stock is off 59% year-to-date, however, and has recently been running into trouble at the $3 level, since landing there after its February bear gap. TNXP can't expect much help from the brokerage bunch, though -- all four analysts following the stock already rate it a "strong buy," and the average 12-month price target sits way overhead, at $10.63. Elsewhere, short interest on Tonix Pharmaceuticals Holding Corp. has been falling lately -- down nearly 29% over the last two reporting periods -- but still represents more than six days' worth of trading, at the stock's average daily volume.

RPRX once again reported encouraging data from Proellex -- a treatment for heavy bleeding related to uterine fibroids. The stock is 4.2% higher at $2.24, bringing its year-to-date lead to 85%. However, the shares are quickly approaching their declining 40-week moving average -- a trendline they haven't toppled on a closing basis since September. Analysts, meanwhile, have been rather lackluster toward RPRX, with the two providing coverage both rating Repros Therapeutics Inc merely a "hold." Short interest on the stock has exploded lately, though, up 385% in the past two reporting periods. These bearish bets now account for nearly 11% of RPRX's total float.

ZIOP popped nearly 3% out of the gate, but has since reversed course to trade down 3% at $6.79. The company reported favorable results in an ongoing early stage trial of its gene therapy treatment for glioblastoma -- an aggressive brain cancer -- but also reported that four trial subjects had serious adverse reactions. The shares are now off 18.3% in 2016, with recent rallies off its annual low running into trouble at the 160-day moving average. Analysts are mostly bearish, with four out of five calling the stock a "hold" or strong sell." Plus, short interest accounts for more than one-third of the equity's available float. At ZIOP's typical pace of trading, it would take more than three weeks to buy back all these bearish bets. 

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical levels, and top economic stories straight to your inbox.
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI