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Tag: NASDAQ: PSTV

  • Why Plus Therapeutics Inc [NASDAQ: PSTV] Is a Good Buy at Current Prices

    Why Plus Therapeutics Inc [NASDAQ: PSTV] Is a Good Buy at Current Prices

    Plus Therapeutics Inc [NASDAQ: PSTV] has been trading in a bullish channel for months now. Yesterday, the stock gained some more upside momentum and closed the day with gains of 24%. Yesterday’s rally followed the company’s announcement that it had got fast track designation from the U.S FDA for its new Glioblastoma treatment.

    With the fast track designation, the company will now have access to a number of benefits. For starters, it will be in a position to hold more regular meetings with the FDA on issues touching on its drug development process.

    The company will also have regular communication from the FDA on many issues including the design of its upcoming clinical trials and the biomarkers that it will use in its process. On top of that, the company will be eligible for accelerated review and approval whenever it meets the laid down criteria.

    Most importantly, the company will be in a position to submit sections of its new drug application whenever they are completed rather than waiting for the entire application to be reviewed by the FDA. This puts the company in an advantageous position in its quest to develop and sell its new treatment for Glioblastoma.

    Commenting on the  fast track designation, the company CEO,  Dr,  Marc Hedrick stated that the award of a fast track designation was a validation of the company’s treatment’s potential for people suffering from recurring cases of glioblastoma, and do not have any viable treatment options at the moment. He added that now that the company had received the fast track designation, it planned on moving the trial to cohort, a major step toward making the new therapy a reality.

    From an investor perspective, the FDA fast track designation means that the company is close to unlocking a new revenue stream. This would have the effect of driving up the company’s value and the stock price. For this reason, buyers are likely to keep bidding up this stock in the near-term.

    The stock is also likely to be the uplifted by the increased optimism in the market. Stocks are on the rise on hopes of a potential COVID-19 vaccine in the near-term. In this environment, any stock that has good fundamentals stands to gain at a higher rate than the rest of the market.

    About Plus Therapeutics Inc

    Plus Therapeutics Inc is a pharmaceutical company that develops treatments for cancer and other ailments. It is based in Austin, Texas.

     

  • Stocks to Watch as Market Sentiment Points to a Good Day for Equities

    The markets are up this morning, with the NASDAQ leading the way. This has been driven by the increased momentum around big tech. More specifically, Apple and Tesla are the two key big tech stocks that are leading the way. The excitement comes from the news of the stock split itself and the fact that the two companies have recorded consistent growth all through the year. Besides big tech, there is increased optimism in the market banked on hopes that the worst of the pandemic is over. This is evident in the moves and investments that big companies are making. Yesterday, the markets woke up to the news that Nestle was buying Aimmune in a deal worth $2.6 billion. Similarly, companies are now confident enough to start doing mega IPOs. Today, Reuters has reported that Chindata, a Chinese data centre company was planning to do a $400 million IPO in the U.S. This would make it the 5th largest IPO of a Chinese company in the U.S in 2020. Such moves point to growing optimism in the market that the future is bright. As positive market sentiment grows, certain stocks that have positive news are outperforming the market. Some of the best performers ahead of markets are as below:

    Plus Therapeutics Inc [NASDAQ: PSTV]

    Plus Therapeutics Inc is a top performer this morning and is up by close to 50% pre-market.  This follows the company’s announcement that the U.S FDA had given it an orphan drug designation for Rhenium NanoLiposomes, an investigational drug for treating recurrent glioblastoma. The treatment is being developed with support from the NIH and NCI and is phase 1 dose-finding clinical trial. Commenting on the development, the company’s CEO, Dr. Marc Hedrick stated that the approval by the FDA was a key milestone towards the development of the treatment. He added that they believed the treatment has the potential to increase patient lifespans.

    Priority Technology Holdings Inc [NASDAQ: PRTH]

    Priority Technology Holdings Inc is another top performer this morning and is up by over 30% pre-market. This follows the company’s announcement that it had entered into an agreement with MRI software for the sale of its RentPayment™ business. Under the deal, MRI will buy the business that comprises of RentPayment.com™, DuesPayment.com™ and StorageRentPayment.com™. The deal also stipulates that Priority will provide its payment infrastructure as a service to the MRI platform.

    Athenex Inc [NASDAQ: ATNX]

    Athenex Inc is another top performer this morning and is up by over 20%. This follows the company’s announcement that the FD had accepted its NDA filing for its metastatic cancer treatments called Oral Paclitaxel and Encequidar. CEO Johnson Lau stated that they were happy with the milestone and continue making preparations for a commercial launch.

  • Top Stocks to Watch as Job Cuts Data Weakens Markets

    Top Stocks to Watch as Job Cuts Data Weakens Markets

    The markets are headed for a weak start this morning due to data showing that job losses in July rose by 54%. According to data by Challenger, Gray and Christmas, the number of job cuts rose by 54% in July after declining for two months in a row. The data further showed that the job cuts were mainly due to the hard economic times occasioned by the COVID-19 pandemic. Others were due to severance following corporate buyouts. Overall, the data points to an economy that has been weakened by the pandemic, and market sentiment in pre-market trading is a reflection of it. Nonetheless, there are stocks that are gaining upside momentum this morning. Most of the top performers are stocks that have released strong quarterly results. Such companies have demonstrated an element of resilience despite the COVID-19 pandemic and inspire investor confidence. Some of the top performers this morning are as below:

    Groupon Inc [NASDAQ: GRPN]

    Groupon Inc is a top performer this morning and is up by 37% in pre-market trading.  This follows the release of Q2 results that point to revenues that have beat analysts’ estimates. The company reported revenues of $395.65 million, beating analyst consensus estimates by 115.07%. The company also beat analysts’ consensus estimates on earnings. It reported an earnings loss of $0.93 while analyst consensus was a loss of $2.63. This points to the company’s resilience in its core markets, even as the COVID-19 pandemic continues to impact on demand in the economy.

    Pius Therapeutics Inc [NASDAQ: PSTV]

    Pius Therapeutics Inc is a top performer pre-market and is up by 30%. Its pre-market gains are a continuation of days of upside momentum after the company announced that it would report Q2 results on August 10th.  The rally is an indicator of anticipation of strong results in the quarter.

    Celsius Holdings Inc [NASDAQ: CELH]

    Holdings Inc [NASDAQ: CELH] is a top performer this morning and is up by over 40% this morning. This follows the company’s release of strong Q2 results. The company reported that in the quarter it had an EPS growth of 300% to hit $0.04. This was much higher than the EPS loss of $0.07 that the company was anticipating. While revenues decreased by 28.83%, they still beat analyst estimates of $55,230,000 to stand at $62,685,000. Besides earnings, the company reported that it had entered into an agreement with J.D. Power for the sale of its subsidiary for $135 million. While announcing the sale, the company also reported that its board had agreed to a share repurchase of up to $75 million worth of shares. These news have sent the stock rocketing in pre-market trading.