3 Healthcare Stocks Making Massive Moves

Biocept shares are taking off just days after hitting a record low

by Josh Selway

Published on Jul 13, 2018 at 2:18 PM

The S&P 500 Index is moving higher today and the Nasdaq just hit a new high. Meanwhile, three healthcare names making big moves are Inflarx NV (NASDAQ: IFRX), Biocept Inc (NASDAQ: BIOC), and Avenue Therapeutics Inc (NASDAQ:ATXI). Below, we'll take a closer look at what's moving shares of IFRX, BIOC, and ATXI. 

IFRX Gets Another Bull Note

IFRX shares have surged back atop the previously supportive 50-day moving average, last seen up 15.4% at $34.99, thanks to a bullish note out of BMO. The brokerage firm initiated coverage on the drugmaker with an "outperform" designation and $45 price target, saying the company's main product candidate, IFX-1, could potentially challenge AbbVie's (ABBV) blockbuster drug Humira.

Inflarx began trading publicly back in November near $15, and has enjoyed a fairly steady rise since. As such, BMO is simply adding to the already overwhelmingly bullish analyst attention IFRX has received. For instance, the stock sports five "strong buy" ratings, one "buy" rating, and zero "holds" or "sells."

BIOC Shares Spike to Multi-Month Highs

A new distribution agreement for the Middle East, as well as parts of Asia and Africa, has BIOC stock up 53% at $10.02, making it one of the best Nasdaq stocks today. Longer term, however, the scene is horrific on the charts for Biocept, as it's endured a near-endless downtrend since peaking near $100 back in early 2017. The equity is pacing for its highest close since March, only days after hitting an all-time low of $3.50.

ATXI Stock Rally Halted at 200-Day

ATXI is another huge gainer today, trading up 5.4% at $3.89. Oppenheimer this morning began coverage on the stock with an "outperform" rating and $8 price target -- nearly double current levels. Plus, that's roughly where Avenue Therapeutics opened for public trading a little over a year ago. The equity will need to contend with the newly formed 200-day moving average, however, which it topped out near roughly a month ago and again earlier today. Today's attention is pretty rare for ATXI, since just one other brokerage firm is in coverage at the moment.

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