Welcome to John Ransom’s Stocks in the News where the headlines meet the trendlines:
Stock number one: Neurocrine Biosciences
Neurocrine shares keep climbing- AP
Shares of Neurocrine Biosciences Inc. surged in premarket trading Tuesday morning, a day after the drug developer surprised some analysts with positive results from a mid-stage study of one of its experimental drugs. The San Diego company had said Monday that a potential treatment labeled NBI-98854 fared much better than a placebo, or fake drug, in reducing the symptoms of tardive dyskinesia, an illness that causes involuntary movements and spasms.
Forward PE: NA; Trailing PE NA;
Estimate Trend: NA
Ransom Note Trendline: Avoid Neurocrine Bioscience
Stock number two: Pharmacyclics Inc.
Pharmacyclics shares soar after panel says cancer drug met goals- MarketWatch
Pharmacyclics Inc., a company developing cancer treatments, saw its shares soar 18% Tuesday after an independent committee recommended that Phase 3 tests on its Imbruvica drug be stopped because the therapy had already met several goals.
The drug, used to treat particular forms of leukemia and lymphoma, showed “statistically significant” improvement in survival rates for patients using Imbruvica versus another drug, Ofatumumab, Pharmacyclics
Forward PE: 705; Trailing PE: 214
Estimate Trend: NA
Ransom Note Trendline: Hold Pharmacyclics
Stock number three: Rally Software Development Corp.
Rally Software initiated with an Overweight, named a Top Pick at Stephens—Fly on the Wall
Stephens initiated Rally Software with an Outperform and named it an 2014 Best Idea given its best in class product, high customer satisfaction, strong management, and improving end markets. Price target is $30. Target $30.
Forward PE: NA; Trailing PE: NA
Estimate Trend: None
Ransom Note Trendline: For Aggressive, experienced Investors, Buy at pullback to $18.