The Biotech Industry has provided investors with impressive gains over the past year. The NASDAQ Biotech Index (NASDAQ: NBI) and the SPDR S&P Biotech ETF (NYSE: XBI) have seen gains of approximately 46 percent and 37 percent, respectively, in the past year. Over the same period the NASDAQ and S&P 500 Index have posted gains of 23 percent and 25.5, respectively. The U.S. Food and Drug Administration approved a total of 39 new drugs in 2012, the second highest total since 1996.
Arena Pharmaceuticals, Inc. (NASDAQ: ARNA)shares traded in the range of $8.70 to $8.97 Thursday before settling to close at $8.90. The stock appears to be facing some resistance at the $9.25 and $9.55 levels. The company weight loss drug Belviq will beavailable in the U.S. after its Schedule IV designation comes into effect on June 7, 2013. Arena Pharmaceuticals shares have gained approximately 48 percent in the past year.
More information on Arena Pharmaceuticalsand access to the free equity report can be found at: www.WallStreetFundamentals.com/ARNA
MannKind Corporation (NASDAQ: MNKD) shares traded in the range of $6.49 to $6.74 Thursday beforesettling to close at $6.58. The stock appears to be facing some resistance at $6.71. The company’s lead product candidate, AFREZZA,is in late stage clinical investigation for the treatment of adults with type 1 or type 2 diabetes for the control of hyperglycemia. Shares of MannKind have gained approximately 280 percent in the past year.
More information onMannKindand access to the free equity report can be found at: www.WallStreetFundamentals.com/MNKD
Orexigen Therapeutics, Inc. (NASDAQ: OREX) shares traded in the range of $6.42 to$6.70 Thursday before settling to close at $6.51. The stock appears to be facing resistance at $6.61 with some support at $6.39. The company’s weight loss drug Contrave is currently being evaluated in a Light Study, which is designed to assess the cardiovascular health outcomes of Contrave. Shares of Orexigen have gained approximately 95 percent in the past year.
More information on Orexigen Therapeuticsand access to the free equity report can be found at: www.WallStreetFundamentals.com/OREX
VIVUS, Inc. (NASDAQ: VVUS) shares traded in the range of $14.73 to $15.30 Thursday before settling to close at $15.09. The stock appears to have support at the $15.05 and $14.72 levels. The company reported a net loss of $53.6 million for the first quarter of 2013, compared to $18.8 million in the year ago quarter. VIVUS shares have fallen approximately 38 percent in the past year.
More information onVIVUSand access to the free equity report can be found at: www.WallStreetFundamentals.com/VVUS
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