In today’s pre-market research, Stock-Callers.com follows four drug manufacturing equities, namely, Amarin Corp. PLC, Depomed Inc., United Therapeutics Corp., and Sucampo Pharmaceuticals Inc. Global prescription drug sales are expected to increase 3 percent this year despite drug-price debates and cost-control pressures.
Amarin
Dublin, Ireland-based Amarin Corp. PLC’s shares gained 3.26 percent, closing Monday’s trading session at $3.17. The stock recorded a trading volume of 2.86 million shares, which was above its three-month average volume of 2.37 million shares. The company’s shares have surged 37.23 percent in the last month, 89.82 percent in the previous three months, and 67.72 percent since the start of this year. The stock is trading 31.48 percent above its 50-day moving average and 68.23 percent above its 200-day moving average. Additionally, shares of Amarin, which focuses on the development and commercialization of therapeutics for the treatment of cardiovascular diseases in the US, have a Relative Strength Index (RSI) of 66.84.
On August 11th, 2016, Amarin announced the pricing of an underwritten public offering of 21,100,000 American Depositary Shares (ADSs) at a price to the public of $2.85 per ADS. The net proceeds to the company from this offering are expected to be approximately $56.1 million. The offering is expected to close on or about August 16th, 2016, subject to customary closing conditions.
Depomed
On Monday, shares in Newark, California headquartered Depomed Inc. recorded a trading volume of 849,979 shares. The stock fell 0.14 percent, ending the day at $21.45. The company’s shares have advanced 14.04 percent in the last month, 16.70 percent over the previous three months, and 18.31 percent on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 9.12 percent and 20.92 percent, respectively. Furthermore, shares of Depomed, which engages in the development, sale, and licensing of products for pain and other central nervous system conditions in the US, have an RSI of 65.54.
On July 27th, 2016, research firm Piper Jaffray downgraded the company’s stock rating from ‘Overweight’ to ‘Neutral.’
On August 4th, 2016, Depomed reported that Q2 2016 revenues were $117 million up 23 percent compared to $95 million for Q2 2015. The company reported net loss of $10.54 million, or $0.17 per basic and diluted share, compared to net loss of $21.65, or $0.36 per basic and diluted share, in the year ago quarter.
United Therapeutics
Silver Spring, Maryland headquartered United Therapeutics Corp.’s stock finished the day 1.11 percent higher at $126.58 and with a total volume of 334,519 shares traded. The company’s shares have gained 14.29 percent in the last one month and 14.43 percent over the previous three months. The stock is trading above its 50-day and 200-day moving averages by 12.20 percent and 0.16 percent, respectively. Additionally, shares of United Therapeutics, which develops and commercializes products to address the unmet medical needs of patients with chronic and life-threatening diseases worldwide, have an RSI of 66.48.
On July 28th, 2016, United Therapeutics reported revenues of $412.6, up 18.8 percent compared to revenue of $347.2 in the same period in 2015. The company reported net income of $206.1 for the quarter ended June 30, 2016, higher by 107.8 percent compared to $99.2 million in the prior year quarter.
Sucampo Pharma
Shares in Rockville, Maryland headquartered Sucampo Pharmaceuticals Inc. ended yesterday’s session 0.52 percent higher at $11.67. The stock recorded a trading volume of 341,852 shares. The company’s shares have advanced 4.20 percent in the last one month and 5.04 percent in the previous three months. The stock is trading 2.41 percent above its 50-day moving average. Moreover, shares of Sucampo Pharmaceuticals, which focuses on the research and development of proprietary drugs for the treatment of gastrointestinal, ophthalmic, autoimmune, and oncology-based inflammatory disorders in the US, Japan, Switzerland, and internationally, have an RSI of 50.83.
On August 3rd, 2016, Sucampo reported y-o-y total revenue growth of 49 percent to $52.0 million, for the three months ended June 30, 2016. Product sales revenue increased to $28.4 million, representing 96 percent y-o-y growth, and product royalty revenue grew 16 percent year-over-year to $18.7 million. Sucampo reported a GAAP net loss of $0.8 million, or ($0.02) per diluted share, during Q2 2016, compared to net income of $9.6 million, or $0.21 per diluted share, during Q2 2015.
On August 04th, 2016, research firm Mizuho downgraded the company’s stock rating from ‘Buy’ to ‘Neutral,’ issuing a target price of $13 per share.
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