Juno Therapeutics Inc (NASDAQ:JUNO) is up 20% in early trading after the FDA removed the clinical hold on its Phase 2 clinical trial of JCAR015, a immunotherapy pipeline drug targeted to patients with specific types of leukemia. Last week, the FDA placed a clinical hold on the trial following the deaths of 2 patients, likely caused by the combination with fludarabine, a chemotherapy drug. The news caused shares to fall 32%. Juno responded by filing documents to the FDA with revised protocol and patient requirements. The company is now resuming enrollment in the study without fludarabine.
According to TipRanks, out of the 7 analysts who have rated the company in the past 3 months, 4 gave a Buy rating while 3 remain neutral. The average 12-month price target for the stock is $49.20, marking 77% upside from where shares last closed.
GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH) is down a slight 3% after the company announced it would raise $252 million through issuing 2.8 million American Depositary Shares worth $90 per share. The company has recently experienced share gains following positive trial results of Epidiolex, its experimental cannabinoid epilepsy treatment. The results indicated a decrease in the incidence of seizures in patients with certain types of rare epilepsy. The company has not yet announced where the funds will be allocated.
According to TipRanks, out of the 6 analysts who have rated the stock in the past 3 months, 5 are bullish and 1 is bearish. The average 12-month price target for the stock is $132.17, marking a 36% upside from where shares last closed.
Nokia Corp (ADR) (NYSE:NOK) is rising 4% after the company and Samsung agreed to expand their patent cross license agreement covering additional patent portfolios of each. As a result of the agreement, the company will be granted additional access Samsung’s patents which will increase net sales of Nokia Technologies starting in the third quarter of 2016. Net sales are expected to grow to a EUR 950 run rate by the end of the year.
President of Nokia Technologies, Ramzi Haidamus, stated, “We welcome this expanded agreement with Samsung which recognizes the strength of our assets, and we continue to pursue new licensing opportunities across a number of diverse industries.”
According to TipRanks, out of the 10 analysts who have rated the stock in the past 3 months, 7 gave a Buy rating while 3 remain on the sidelines. The average 12-month price target for the stock is $6.50, marking a 16% upside from where shares last closed.