EW, BNTC, STML are among the stocks on the move today
U.S. stocks are trading lower, with growing political tensions setting a risk-off mood. Among specific equities in focus today are healthcare stocks Edwards Lifesciences Corp (NYSE:EW), Benitec Biopharma Ltd (ADR) (NASDAQ:BNTC), and Stemline Therapeutics Inc (NASDAQ:STML). Here's a quick look at what's moving EW, BNTC, and STML.
Bearish Analysts Sink Edwards Lifesciences Corp
Even though the company reported fourth-quarter earnings results that topped expectations, shares of EW were last seen 9.4% lower at $88.83. The stock this morning received price-target cuts from Deutsche Bank ($100) and Leerink ($105), with the latter brokerage suggesting upside will be limited from current levels. Edwards Lifesciences Corp has now shed 27% since its October record high of $121.75. If the shares do struggle going forward, more bearish attention could come EW's way, since 16 of 18 analysts rate it a "buy" or "strong buy," while zero recommend selling the stock.
Benitec Biopharma Ltd Doubles in Value After Ocular Program Update
BNTC was last seen sporting a 125% gain at $3.60 -- making it the top stock on the Nasdaq -- after the company said it's made "significant progress" with its ocular program. Details will be presented at the Association for Research in Vision and Ophthalmology (ARVO)-Asia meeting in the coming days. This is the stock's second huge upside move this month, and the shares earlier tagged an annual high of $4.44. At last check, volume on Benitec Biopharma Ltd was running at seven times the norm
Reports of Patient Death Crush Stemline Therapeutics Inc
STML is down 35.1% at $6.33, after The Street.com reported a third patient has died in a clinical trial for the company's leukemia treatment. The stock is now on pace for its lowest close since May, and bearish traders couldn't be happier. For instance, short interest on Stemline Therapeutics Inc rose by 25.5% during the past two reporting periods, and now represents more than a week's worth of buying power, based on the stock's average daily volumes.
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