Here are the top two biotech stocks to watch in the coming weeks after the recent bullish price action:-
Ardelyx Inc (NASDAQ: ARDX) was another notable stock gainer on Thursday as the stock soared as much as 10.50% after hitting a new multi-year high of $9.23. The rally in the stock was driven by news that the company’s s Japanese partner, Kyowa Kirin, has begun four late-stage clinical studies evaluating Ardelyx’s lead candidate tenapanor. We have seen a lot of buying activities in the stock since late March as the stock has soared 40% from March 29th.
ARDX stock is trading well above its 50-Day and the 200-Day moving average price of $6.97 and $6.33 respectively. Considering the stock keeps on hitting new highs, ARDX stock may be a better momentum play on intermediate pullbacks
BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) was among the most active biotech stock gainer after important news related to its hereditary angioedema (HAE) treatment, Orladeyo. Shares of the biotech company soared 11.30% and closed at $11.34. BCRX stock has already gained 53% so far this year.
One must note that the company closed above its 50-Day moving average price of $10.97. Moreover, the stock is trading well above its 200-Day moving average price of $6.70. So considering yesterday’s breakout, BCRX stock may continue to do well.
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