Healthcare Stocks That Hit New Highs ( REPH, CNMD, DRNA,...)

(RTTNews) - The following are the healthcare stocks that hit a new 52-week high on Thursday.

1. Recro Pharma, Inc. (REPH) hit a new high of $15.78 in intraday trading on Thursday before closing at $15.77. The stock jumped nearly 120% year-to-date.

Recro Pharma is a revenue-generating specialty pharmaceutical company developing multiple non-opioid therapeutics for the treatment of acute postoperative pain.

The company's lead drug candidate is Meloxicam, proposed for the treatment of acute postoperative pain. The IV formulation of Meloxicam was rejected by the FDA for the second time in March. Yesterday, the company announced that the FDA has granted the appeal of the Complete Response Letter (CRL) it received in March. This news moved the stock 14% up in yesterday's trading.

Meloxicam in IM formulation for acute pain is under phase I study.

Another drug candidate, Fadolmidine, which the company is co-developing with Orion pharma, is under phase II study for the treatment of postoperative pain.

The company had revenues of $31.3 million for the three months ended June 30, 2019, compared to $21.7 million for the year-ago quarter. Third-quarter earnings are expected to be reported on November 7, 2019.

2. Dicerna Pharmaceuticals, Inc. (DRNA) recorded a new high of $18.39 in intraday trading on Thursday before closing at $16.49. The stock has gained 54% year-to-date.

Dicerna Pharmaceuticals focuses on the discovery and development of ribonucleic acid interference (RNAi)-based pharmaceuticals.

The company's product candidate, DCR-HBVS proposed for the treatment of chronic hepatitis B virus (HBV) infection is under phase I study.

Yesterday, the company said it has entered into an agreement with Roche to develop and commercialize DCR-HBVS.

Under the terms of the agreement, Dicerna will receive an upfront payment of $200 million and an additional sum of up to $1.47 billion over a period for the achievement of specified milestones. In addition, Dicerna is eligible to receive royalties based on sales of DCR-HBVS.

The company, which has a growing pipeline of product candidates, is investigating DCR-PHXC in a variety of trials, dubbed PHYOX, for the treatment of all three genetic forms of primary hyperoxaluria (PH).

PHYOX1, a phase I study of DCR-PHXC for the treatment of primary hyperoxaluria is underway. Data showing substantial post-dose reductions in 24-hour urinary oxalate levels in adult and adolescent study participants within patients with primary hyperoxaluria type 1 (PH1) and type 2 (PH2) were announced recently.

PHYOX2 , a phase II study of DCR-PHXC for the treatment of primary hyperoxaluria type1 and 2 in children and adults is ongoing.

3.CONMED Corporation (CNMD) jumped to a new high of $111.97 in intraday trading on Thursday before closing at $110.02. The stock is up 70% year-to-date.

ONMED is a commercial-stage medical technology company developing and selling surgical devices and related equipment for minimally invasive procedures.

CONMED reported its third-quarter financial results on October 30, 2019.

Net income in the third quarter of 2019 was $6.97 million or $0.23 per share compared with $5.83 million or $0.20 per share in the year-earlier period.

Adjusted EPS for the third quarter was $0.62 versus $0.46 a year ago. Analysts expected the company to report earnings of $0.56 per share.

Sales in the third quarter of 2019 were $233.6 million, an increase of 15.5% from $202.31 million in the year-ago quarter.

The company has raised its full-year guidance for adjusted earnings per share to a range of $2.62 to $2.65 from the previous range of $2.52 to $2.57 per share. Analysts are expecting earnings of $2.63 per share.

4. Alphatec Holdings Inc. (ATEC) hit a new high of $6.95 in intraday trading on Thursday before closing at $6.88. The stock has jumped 200% year-to-date.

Alphatec, a medical technology company, designs, develops, and markets products for the surgical treatment of spine disorders. The company launched five new products in the third quarter.

The company, on October 30, 2019, reported its third-quarter financial results.

Revenue in the third quarter was $29.2 million versus $23.0 million in the same quarter a year ago.

The company expects its full-year revenue growth to be above 26%. Analysts see revenue growth of only 21.2% for 2019.

5. Compugen Ltd. (CGEN) recorded a new high of $5.20 in intraday trading on Thursday before closing at $5.13. The stock is up nearly 140%.

Compugen is a clinical-stage drug discovery and development company with a pipeline consisting mainly of early-stage immuno-oncology programs.

The company's lead drug candidate COM701 is currently being evaluated in a Phase 1 study in patients with advanced solid tumors. New data is to be presented at the 34th Annual Meeting of the Society for Immunotherapy of Cancer (SITC 2019) to be held November 6-10 at the Gaylord National Hotel & Convention Center in National Harbor, Maryland.

COM701, in combination with Bristol-Myers' Opdivo is under phase I study in four tumor types, including non-small cell lung, ovarian, breast and endometrial cancer.