BioPharma Stock Skyrockets

Furiex Pharmaceuticals, $FURX, stock is up more than 144% after the company announced positive clinical trial results for a drug to treat irritable bowel syndrome.

OptionsElite

Feb. 4 at 10:27 AM

$FURX treatment for (IBS-d) met the goals of two Phase III trials by improving stool consistency & relieving abdominal pain – mkt responded

“We have completed all toxicology studies and believe we are on schedule, including chemistry and manufacturing work, for an NDA submission by the end of the second quarter of 2014,” said founding chairman Fred Eshelman in a statement.

The drug, eluxadoline, helps stop the chronic diarrhea suffered by some IBS patients. It also lessens patients abdominal pain.

The Food and Drug Administration has granted the drug Fast Track status. To warrant such a classification a drug must address an unmet need or show superior effectiveness to other drugs on the market, according to the FDA.

Some investors said the run was overdone. At the current share price, Furiex has a market cap of $1.18 Billion. It had about 20.5 million in revenues for 2012, the last year for which a 10K is available. It reports earnings in March.

Corona3923

Feb. 4 at 12:27 PM

Had 20 shares of $FURX made my $940 and dumped it. It’s way to speculative for current levels.

However even bears urged others not to short the stock for fear of another upswing tomorrow as analysts digest the data and reassess the company’s valuation.

HarryWanger

Feb. 4 at 1:45 PM

$FURX whos still holding their short? -Short at 110 and on short leash. Could wake up with multiple upgrades & big jump. Day trade only.

Already some analysts were changing their price targets. Ladenburg Thalmann raised its price target to $137.

ACInvestorBlog

Feb. 4 at 1:07 PM

$FURX Ladenburg Thalmann More Than Doubles Target on Furiex from $57 to $137, Maintains Buy


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