Pharma Profits Continue Leading the Rally: Top Performers
Markets slumped yesterday as the Trump administration rattled markets with “weaker dollar” rhetoric. But momentum seems to be recovering today, with indexes broadly posting solid gains at the time of this writing. With the EU’s Mario Draghi endorsing a stronger Euro, international currency politics may remain a market focus in the coming months.
The pharmaceutical sector continues to dominate our Top Performer reports as investors search for hidden growth potential. Today, our Top Gainers were lead by a cluster of pharma stocks, two of which we highlight below.
SMMT focuses on developing therapies for rare diseases and infectious diseases. This morning, they announced positive clinical trial results from “PhaseOut DMD.” Indicators suggest it holds substantial potential as a treatment for Duchenne muscular dystrophy.
Investors bought the stock heavily after getting wind of the announcement, driving the stock up over 20% at the time of this writing.
IOVA jumped out to nice gains during yesterday’s session after announcing promising results for a potential treatment for head, neck, and cervical cancers.
The rally only picked up steam today after an upgrade by H.C. Wainright’s globally recognized analysis group (they set a $22 price target on the stock, suggesting it may have more room to run).
Investors are buying into IOVA’s growth potential, driving it over 25% so far during today’s trading.
We can expect to see more big gainers coming from the pharma development sector in the coming weeks. WIth its value driven by news announcements, these gains are particularly exploitable through the agile trading strategies enabled by a news-analytics platform like News Quantified. As market valuations continue to climb and risk appetites rise, we can only expect to see more capital seeking better yields in pharma R&D—inherently a high-risk, high-reward endeavor.
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