A few biotech companies are making fantastic runs in Thursday’s session. Over the past 52-weeks, Biotechs and Pharmaceuticals have been absolutely crushed with the SPDR S&P Biotech ETF (NYSEMKT: XBI) down about 26% in this time. However the year before that, the health care sector was on fire from positive trials, U.S. Food and Drug Administration (FDA) approvals, and mergers and acquisitions. With ASCO just hours around the corner, we wonder if this could be the catalyst to pull the healthcare sector out of this rut.
These companies 24/7 Wall St. has picked stood out from the rest on Thursday. We have included information about each company, as well as recent trading activity and the consensus price target.
Eleven Biotherapeutics, Inc. (NASDAQ: EBIO) issued an SEC filing Wednesday evening that the company met the NASDAQ Listing Qualifications. What this really means is that the company will not be delisted from the exchange. Also note that the company only had 1.2 million in shares short as of the last settlement date, so this movement most likely is not a short squeeze unless more short selling was done since the last settlement date report. Investors must really...