The biotech sector along with small cap biotech stocks Cardiome Pharma Corp (NASDAQ: CRME), Oncolytics Biotech, Inc (NASDAQ: ONCY), Vital Therapies Inc (NASDAQ: VTL) and TNI BioTech (OTCMKTS: TNIB) have all been producing their share of news this week for investors and traders alike to trade on. Moreover and while some 42 ��ife sciences��companies have gone public raising about $3 billion from investors so far this year, there are a growing number of biotechs pulling the plug on upcoming IPOs who are citing market conditions. With that in mind, here is a look at important news from the biotech sector and small cap biotech stocks this week:
Frothy IPO Market But There is Still ��uality Control.���all Street�� MoneyBeat column quoted Christopher Bartel, head of global equity research at Fidelity, say the following about the IPO market in general:��t�� frothy, but there�� still a quality-control element. You��e not seeing the deal-chasing.��/p>
Top 5 Shipping Companies To Buy Right Now: Achillion Pharmaceuticals Inc.(ACHN)
Achillion Pharmaceuticals, Inc., a biopharmaceutical company, engages in the discovery, development, and commercialization of treatments for infectious diseases. The company focuses on the development of antivirals for the treatment of chronic hepatitis C; and the development of antibacterials for the treatment of resistant bacterial infections. Its drug candidates for the treatment of chronic HCV include ACH-1625, a protease inhibitor, which is in phase IIa clinical trial for the treatment of chronic HCV; ACH-2684, a pangenotypic protease inhibitor, which is in phase I clinical trial for the treatment of chronic HCV infection; and NS5A inhibitors for the treatment of chronic HCV infection, including ACH-2928, which is to enter a phase I clinical trial, as well as various additional NS5A inhibitors in preclinical development. Its pipeline of product candidates also includes ACH-702 and ACH-2881 for drug resistant bacterial infections; elvucitabine for HIV infection; and AC H-1095 for HCV infection. The company was founded in 1998 and is based in New Haven, Connecticut.
Advisors' Opinion:- [By Lisa Levin]
Achillion Pharmaceuticals (NASDAQ: ACHN) shares touched a new 52-week high of $9.36 on hepatitis C drug study.
Andatee China Marine Fuel Services (NASDAQ: AMCF) shares touched a new 52-week high of $3.08 on Q2 results.
- [By Keith Speights]
2. Achillion Pharmaceuticals (NASDAQ: ACHN )
Achillion recently experienced a delay in the game that it had hoped to play. The FDA placed a clinical hold on hepatitis C drug sovaprevir after patients in a phase 1 drug-drug interaction study with the drug combined with ritonavir-boosted atazanavir were found to have elevated liver enzyme levels. Shares dropped 25% in one day as a result.
Hot Small Cap Companies To Own In Right Now: China Metro-Rural Holdings Limited(CNR)
China Metro-Rural Holdings Limited, through its subsidiaries, primarily engages in the development and operation of agricultural logistics and trade centers in northeast China. It also involves in purchasing, processing, assembling, merchandising, and distributing pearls and jewelry products. The company markets its pearls and jewelry products to wholesale distributors and mass merchandisers in Europe, the United States, Hong Kong, and other parts of Asia. In addition, it develops, sells, and leases residential and commercial properties in Hong Kong and the People?s Republic of China. The company is based in Tsimshatsui, Hong Kong.
Advisors' Opinion:- [By Katie Brennan]
Canadian National Railway Co. (CNR) added 0.9 percent to C$104.93 and Canadian Pacific Railway Ltd. rose 1.7 percent to C$131.73.
Niko Resources surged 3.4 percent to $8.64 after the company entered an agreement for a $60 million loan that will be funded by a group of institutional investors. Net proceeds from the loan will be used to fund working capital requirements.
Hot Small Cap Companies To Own In Right Now: Texas Instruments Incorporated(TXN)
Texas Instruments Incorporated engages in the design and sale of semiconductors to electronics designers and manufacturers worldwide. The company?s Analog segment offers high-performance analog products comprising standard analog semiconductors, such as amplifiers, data converters, and interface semiconductors; high-volume analog and logic products; and power management semiconductors and line-powered systems. Its Embedded Processing segment includes DSPs that perform mathematical computations to process and enhance digital data; and microcontrollers, which are designed to control a set of specific tasks for electronic equipment. The company?s Wireless segment designs, manufactures, and sells application processors and connectivity products. Its Other segment offers smaller semiconductor products, which include DLP products that are primarily used in projectors to create high-definition images; and application-specific integrated circuits. This segment also provides handhe ld graphing and scientific calculators, as well as licenses technologies to other electronic companies. The company serves the communications, computing, industrial, consumer electronics, automotive, and education sectors. Texas Instruments Incorporated sells its products through a direct sales force, distributors, and third-party sales representatives. It has collaboration agreements with PLX Technology Inc.; Neonode, Inc.; and Ubiquisys Ltd. The company was founded in 1938 and is headquartered in Dallas, Texas.
Advisors' Opinion:- [By Monica Gerson]
Texas Instruments (NASDAQ: TXN) is projected to report its Q3 earnings at $0.53 per share on revenue of $3.23 billion. TI shares gained 4.04% to close at $10.30 on Friday.
- [By Victor Selva]
Several tech vendors like Intel (INTC), IBM (IBM), Texas Instruments (TXN) and Hewlett-Packard (HPQ) have announced job cuts for 2014. These reductions will take effect in the near future while management will continue to explore additional opportunities to improve profitability.�
- [By Lee Jackson]
Texas Instruments Inc. (NASDAQ: TXN) also supplies VOIP chips to Cisco, but their sales to the company amount to a very small percentage which is not expected to hurt overall performance. The consensus price target for the venerable tech company is $38. Shareholders are paid a 2.9% dividend.
Hot Small Cap Companies To Own In Right Now: ATA Inc.(ATAI)
ATA Inc., through its subsidiaries, provides computer-based testing services in the People?s Republic of China. It offers services for the creation and delivery of computer-based tests utilizing its test delivery platform, proprietary testing technologies, and testing services; and provides logistical support services relating to test administration. The company?s computer-based testing services are used for professional licensure and certification tests in various industries, including information technology (IT) services, banking, securities, teaching, and insurance. Its e-testing platform integrates various aspects of the test delivery process for computer-based tests ranging from test form compilation to test scoring, and results analysis. ATA also provides career-oriented educational services, such as single course programs, degree major course programs, and pre-occupational training programs focusing on preparing students to pass IT and other vocational certification tests; test preparation and training programs and services to test candidates preparing to take professional certification tests in securities, futures, banking, insurance and teaching industries; online test preparation and training platform for the securities and banking industries; and test preparation software for the teaching industry. In addition, the company offers HR select employee assessment solution, an online system that utilizes its proprietary software and an inventory of test titles to help employers improve the efficiency and accuracy of their employee recruitment process. As of March 31, 2010, it had contractual relationships with 1,988 ATA authorized test centers. The company serves Chinese governmental agencies, professional associations, IT vendors, and Chinese educational institutions, as well as individual test preparation services. ATA Inc. was founded in 1999 and is based in Beijing, the People?s Republic of China.
Advisors' Opinion:- [By Jake L'Ecuyer]
Leading and Lagging Sectors
Industrials stocks gained Friday, with ATA (NASDAQ: ATAI) leading advancers. Meanwhile, gainers in the sector included Plug Power (NASDAQ: PLUG), with shares up 22 percent, and Korn/Ferry International (KFY), with shares up 12 percent. In trading on Friday, basic materials shares were relative laggards, down on the day by about 1.36 percent.
Hot Small Cap Companies To Own In Right Now: EZchip Semiconductor Limited(EZCH)
EZchip, a fabless semiconductor company, engages in the development and marketing of Ethernet network processors for networking equipment. Its products include network processor chips, evaluation boards and network-processor based systems, and development software toolkits. The company offers network processors for use in forming the silicon core of networking equipment, such as switches and routers; and for voice, video and data integration in various applications. Its network processors are single-chip solutions, which enable its customers to design multi-port line cards, such as processing and classification engines, traffic managers, media access controllers, as well as a range of specialized hardware blocks that accelerate various functions. The company offers Evaluation systems which enable customers to test NPU-based systems; and toolkits that assist customers in creating, verifying, and implementing solutions based on its network processors. It provides a library f eaturing data plane code for a range of applications, which include Metro Ethernet protocols, Multi-Protocol Label Switching, IPv4 and IPv6 routing, Access Control Lists, GPON/EPON OLT functionality, Network Address Translation, and Server Load Balancing. The company sells its products directly, and through contract manufacturers and distributors to network equipment vendors. It markets its products in Israel, China, Hong Kong, the Far East, Canada, the United States, and Europe. The company was formerly known as LanOptics Ltd. and changed its name to EZchip Semiconductor Ltd. in July 2008. EZchip Semiconductor Ltd. was founded in 1989 and is based in Yokneam, Israel.
Advisors' Opinion:- [By Evan Niu, CFA]
What: Shares of EZchip (NASDAQ: EZCH ) have jumped today by as much as 13% after the company reported first-quarter earnings.
So what: Revenue in the first quarter totaled $15.3 million, topping the Street's forecast of $15.1 million. Non-GAAP net income per share came in at $0.23, which was right on target with expectations.
- [By Paul McWilliams]
Paul McWilliams: Oh, absolutely. Another company that most investors probably have never heard of is a tiny little Israeli semiconductor company named EZChip (EZCH).
- [By Lisa Levin]
EZchip Semiconductor (NASDAQ: EZCH) shares climbed 5.80% to $23.53. The volume of EZchip Semiconductor shares traded was 635% higher than normal. EZchip Semiconductor's PEG ratio is 1.57.
Hot Small Cap Companies To Own In Right Now: OmniVision Technologies Inc.(OVTI)
OmniVision Technologies, Inc. designs, develops, and markets semiconductor image-sensor devices. The company offers CameraChip image sensors, which are single-chip solutions that integrate various functions, such as image capture, image processing, color processing, signal conversion, and output of a processed image or video stream for use in various consumer and commercial mass-market applications; and CameraCube imaging devices that are image sensors with integrated wafer-level optics. It also provides companion chips used to connect its image sensors to various interfaces, including the universal serial bus and other industry standard interfaces; and companion digital signal processors that perform compression in standardized still photo and digital video formats. In addition, the company designs and develops software drivers for Linux, Mac OS, and Microsoft Windows, as well as for embedded operating systems, such as Blackberry OS, Palm OS, Symbian, Windows CE, Windows Embedded, and Windows Mobile. Its products are used in mobile phones, notebooks, Webcams, digital still and video cameras, commercial and security and surveillance, and automotive and medical applications, as well as in entertainment devices. The company sells its products directly to original equipment manufacturers and value added resellers, as well as indirectly through distributors worldwide. OmniVision Technologies, Inc. was founded in 1995 and is based in Santa Clara, California.
Advisors' Opinion:- [By John Kell]
OmniVision Technologies Inc.'s(OVTI) fiscal third-quarter profit rose 43%, boosted by a one-time benefit related to the initial public offering of the company’s equity investee China WLCSP Ltd. Shares rose 15% to $18.60 premarket.
- [By Rick Munarriz]
Briefly in the news
OmniVision (NASDAQ: OVTI ) investors are seeing the big picture. Shares of the image sensor maker moved higher after posting better-than-expected quarterly results. Revenue soared 54%, and OmniVision's profit of $0.31 a share blew away the $0.21 analysts were targeting. Nokia (NYSE: NOK ) is no longer the leading smartphone seller in Finland. Tech tracker IDC reports that Samsung outsold Nokia in its home country this past quarter. So much for the hometown hero. Vringo (NASDAQ: VRNG ) got another tech giant to pay up, but it won't be much. The company announced a patent-infringement settlement with Mr. Softy in which Vringo will receive $1 million and enter into a licensing deal with the world's largest software company.
And now let's take a quick look at some of the other stories that shaped our week.
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