Friday’s Pre-Market Insights: Heron Therapeutics Inc (HRTX), Prima Biomed Ltd. (PBMD), Transgenomic Inc (TBIO)


Heron Therapeutics Inc (NASDAQ:HRTX) shares soared over 38% to $17.10 in pre-market trading after the company announced positive, top-line results from its recently completed Phase 3 MAGIC study. MAGIC evaluated the efficacy and safety of the Company’s 5-HT3 receptor antagonist product candidate SUSTOL for the prevention of delayed-onset chemotherapy-induced nausea and vomiting (CINV) following administration of highly emetogenic chemotherapy (HEC) agents.

On the ratings front, Brean Capital analyst Jonathan Aschoff maintained a Buy rating on HRTX, with a price target of $40, in a report issued on May 15. The current price target represents a potential upside of 224% from where the stock is currently trading. According to TipRanks.com, Aschoff has a total average return of 7.6%, a 55.1% success rate, and is ranked #426 out of 3610 analysts.

Prima Biomed Ltd. (NASDAQ:PBMD) shares increased 17% to $2.89 in Friday’s pre-market trading following news that the company has made substantial progress with its lead product, IMP321. As such, the company reported that it has filed a provisional patent application over the use of IMP321 in combination with immune checkpoint inhibitors.

Transgenomic Inc (NASDAQ:TBIO) shares increased nearly 22% to $2.31 after the company announced the launch of its new Multiplexed ICE COLD-PCR™ (MX-ICP) CLIA service for mutation detection in cancer patients to enable more informed diagnoses, better treatment decisions and ongoing patient monitoring.

 

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