Stocks On the Move: Momenta Pharmaceuticals, Inc., Pacira Pharmaceuticals Inc, and Stemline Therapeutics Inc

MNTA, PCRX, and STML are among the stocks on the move today

by Alex Eppstein

Published on Jan 6, 2017 at 1:15 PM
Updated on Jun 24, 2020 at 10:16 AM

U.S. stocks have recovered after a rocky start to the day, with multiple indexes touching record highs. Among specific equities in focus today are drug stocks Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA), Pacira Pharmaceuticals Inc (NASDAQ:PCRX), and Stemline Therapeutics Inc (NASDAQ:STML). Here's a quick look at what's moving MNTA, PCRX, and STML.

  • MNTA is up 6.1% at $16.45, and fresh off an annual high of $17.25, after the drugmaker announced a license agreement with CSL. Separately, Momenta Pharmaceuticals, Inc. reiterated its fourth-quarter adjusted operating expense guidance as part of its 2016 corporate update. The brokerage community isn't being caught off guard by the stock's sharp gains. Two-thirds of the nine covering analysts rate MNTA a "strong buy."
  • PCRX has gapped 17.2% higher to trade at $40.03, boosted by better-than-expected preliminary fourth-quarter revenue numbers. Bolstering sales was demand for the company's non-opioid anesthetic Exparel, and Pacira Pharmaceuticals Inc said it's seeing "strong interest" from potential partners that want to broaden applications for the drug. Longer term, however, the shares have fallen a long way since this time last year, when they were flirting with the $70 level. Meanwhile, short sellers are likely getting burned on PCRX's breakout. After jumping about 27% in the most recent reporting period, short interest now accounts for roughly 13% of the stock's float -- more than a week's worth of trading activity, based on average daily levels.
  • STML is over 14% higher at $12.95, after the firm reached an agreement with the Food and Drug Administration (FDA) on a pathway for full approval of its leukemia treatment, SL-401. Year-over-year, the shares have now advanced over 124%. Yet, short-term open interest levels on Stemline Therapeutics Inc are very put-skewed, relatively speaking. The stock's Schaeffer's put/call open interest ratio (SOIR) of 0.73 ranks just 12 percentage points from an annual high.
Don't miss the market's next move! Sign up now for Schaeffer's Midday Market Check

A Schaeffer's 39th Anniversary Exclusive!

8 Top Stock Picks for 2020

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


  
 
 

Partnercenter