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

Jan 6, 2017 at 1:15 PM
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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.
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