Biotech Spotlight: Aurina Pharmaceuticals Inc, SCYNEXIS Inc, and The Medicines Company

Among the drugmakers in focus are Aurina Pharmaceuticals Inc (NASDAQ:AUPH), SCYNEXIS INc (NASDAQ:SCYX), and The Medicines Company (NASDAQ:MDCO)

by Andrea Kramer

Published on Oct 6, 2016 at 11:12 AM
Updated on Jun 24, 2020 at 10:16 AM

A handful of biotech stocks are making big moves today. Among the drugmakers in focus are Aurina Pharmaceuticals Inc (NASDAQ:AUPH), SCYNEXIS Inc (NASDAQ:SCYX), and The Medicines Company (NASDAQ:MDCO).

  • AUPH is the best-performing Nasdaq stock thus far, up 31.6% at $5.33, after the company reported encouraging data for Voclosporin, its lead treatment for lupus nephritis. The shares of AUPH have officially closed their August bear gap -- triggered by concerns of patient deaths related to the aforementioned drug -- to touch a fresh multi-year high of $5.69 earlier. A few recent short sellers could be kicking rocks, as short interest on Aurina Pharmaceuticals Inc skyrocketed more than 300% during the past two reporting periods.

  • SCYX is 4.8% higher at $5.03, after the firm unveiled the results of two Phase 2 studies and said it closed a $15 million term loan with Solar Capital Ltd. (NASDAQ:SLRC). The stock has rocketed 189% since touching a record low of $1.74 in mid-July, and is on pace to topple its 50-week moving average for the first time in more than a year. Analysts are already in SCYNEXIS Inc's corner, though, with all four covering brokerage firms doling out "buy" or better endorsements.
  • MDCO is down 13.8% at $33.18, as Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) -- with which it's developing a cholesterol-lowering drug -- gets destroyed. The Medicines Company shares are now south of their 80-day moving average for the first time since late July, landing on the short-sale restricted list. Still, there are likely quite a few shorts cheering today, as more than 19% of MDCO's float is dedicated to short interest. At the stock's average pace of trading, it would take more than three weeks to buy back 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.

A Schaeffer's 39th Anniversary Exclusive!

8 Top Stock Picks for 2020

Access your FREE insider report before it's too late!


  
 
 

Partnercenter