Technology is playing a key role in changing the world, and the bioscience and healthcare industries are no omission, according to a biotechnology supporter and venture capitalist who spoke in a conference held in Madison yesterday. G. Steven Burrill, who is a UW-Madison graduate and was among the featured speakers at the daylong 2012 Bioscience Vision Summit at Monona Terrace, said that would mean today’s biotechnology companies are required to find new ways to continue performing well.
In a widespread discussion that took into account the high cost of health care, the rising demand for biofuels in China and the prospect of European economic situation, Burrill said new industry players will have to adopt creativity because financial support is limited and regulators are slow to move.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) snapped 5-day losing streak after analysts at Credit Suisse added the stock in their watch list, setting an “underperform” rating and a $6.00 price target. Moreover, they anticipate that the company will post $-0.26 earnings per share for the current fiscal year.
To have a quick look on this stock’s price history, beta used to measure the volatility or systematic risk in comparison to the market as a whole was 0.22 and the percentage change in the price over the last fifty two weeks remained at 464.87%. The price range in those 52 weeks had a highest hit of $13.50 on June 27, 2012 while lowest level during that period was $1.23on Oct 04, 2011.
Cell Therapeutics Inc. (NASDAQ:CTIC) declined sharply on Pixuvri release plan. The stock moved down -41.55% in this year and its price history showed most recently beta was at 5.31. Overall during the last 12 months, the percentage change in the price was -40.53%, hitting the highest of $8.25 on Feb 17, 2012 while lowest level in that period was $1.77 on Sep 06, 2012.
Gilead Sciences, Inc. (NASDAQ:GILD) hit new high after analysts at Jefferies Group reaffirmed their hold rating on the stock. Its shares rallied 45.98% so far in 2012. The stock most recently had a beta value at 0.44 and the percentage change in the price over the last fifty two weeks remained at 51.73%. The price range in that 1-year period had a best hit of $59.90 on Sep 12, 2012 while lowest level in the same period was $34.45 on Nov 21, 2011.
Peregrine Pharmaceuticals (NASDAQ:PPHM) surged on presentation to investors at Credit Suisse 2012 Small & Mid Cap Conference. So far, the share price of this stock jumped 304.85% in this year and stock’s price history revealed that beta was maintained at 0.84 and the percentage change in the price over the last fifty two weeks remained as 236.29%.
