I don’t know if everyone feels this way, but for me, it’s been a great start to the trading week. One of my favorite parts of the day is all the breaking news and opening opportunities in the healthcare market. With that said, I’ve found three healthcare stocks that are presenting what I believe to be great opportunities. Here they are…
Synergy Pharmaceuticals Stock Pulled Back…Get Ready For More Gains To Come!
Synergy Pharmaceuticals Inc (NASDAQ: SGYP)
Synergy Pharmaceuticals seems to be the talk of the healthcare sector today. After climbing for the most part of last week based on the release of data from a gastrointestinal study, the stock has started a bit of a reversal today. However, I’m not at all concerned about today’s SGYP declines. In fact, I think that today’s declines are presenting quite the opportunity. The reality is that movement in the market tends to be a series of overreactions. So, following the positive news, it’s not surprising that investors got excited and pushed the value of SGYP up too far too fast. Nonetheless, that doesn’t discount the intrinsic value of the stock; and in my opinion, that value is far higher than the current price. So, I’m expecting that after today’s declines, we’re going to see more uptrends to come in the long run.
CIGNA Corporation Stock Soars On Offer Refusal
CIGNA Corporation (NYSE: CI)
CIGNA Corporation stock is having an incredible day in the market today as well. Late last week, we heard about a takeover offer in which Anthem offered CIGNA $47.5 billion for the acquisition of the company. However, CI responded today with a refusal of the offer; stating that an acquisition would not be in the best interest of the shareholders of the company at this time. Investors obviously liked the company’s reaction to the takeover offer as they have sent the stock climbing today. Currently (2:34), CI is trading at $163.52 per share after a gain of 5.32% so far today. When I think about the reason for the increasing value today, and look at historic price movement from the stock, it’s hard to imagine any scenario that would create a long term reversal and send this stock on a bearish trend. So, now may be the time to look for pull-backs that present an opportunity to get in on the gains.
Progenics Pharmaceuticals Stock Climbs On High Volume
Progenics Pharmaceuticals, Inc. (NASDAQ: PGNX)
Finally, we have Progenics Pharmaceuticals stock. Today, PGNX is up in a big way on incredibly high volume. According to NASDAQ, PGNX shares have traded hands an average of 969,771 times per day over the past 50 days. However, today’s volume is more than 5 times the average; and the day isn’t even over. Currently (3:39), 5,601,546 shares of PGNX have traded hands so far today; ultimately leading to a gain of 9.77% so far. Considering the unusually high volume, I imagine that investor sentiment on this one is positive and that gains will last for at least a short while. So, keep your eye out for pull backs that present opportunities.
Do You Know Of Any Others?
Do you know of any other biotech stocks that are presenting great opportunities today? If so, let us know in the comments below!