Yesterday was an incredibly rough day in US markets and in markets around the world. As the Greek debt crisis continues to spin out of control, investors started to worry about how the crisis will affect markets around the world. However, today the sentiment in the market has changed. Investors are considering the fact that the Federal Reserve may wait to increase interest rates if the Greek debt crisis continues. In that case, low interest would continue to hold up US stocks. So, naturally, we’re seeing more positive news in the market today. Below, we’ll discuss some of the biggest gainers in biotech as a result of investor thoughts on interest rates.
Sarept Therapeutics Is Up In A Big Way
Sarepta Therapeutics Inc (NASDAQ: SRPT)
Sarepta Therapeutics announced yesterday that they had completed the rolling NDA submission process with the Food and Drug Administration for eteplirsen. Unfortunately however, the market was taking a bit of a blood bath yesterday with concerns of the Greek debt crisis in mind. As a result, the stock fell with the rest of them. Nonetheless, the positive news surrounding the NDA coupled with the fact that investors are expecting the Federal Reserve to delay raising interest rates is sending this stock up in a big way. In morning trading, SRPT grew by more than 9%; and the trend seems to be continuing. Considering that the reason for the climb goes beyond Federal Reserve interest rates, I’d expect this to be the start of long-term uptrends. So, keep your eyes on this one as it’s likely to continue climbing further!
StemCells Recovers In A Big Way
StemCells Inc (NASDAQ: STEM)
StemCells stock has had a rough time in the market since June 25th; falling like a brick from the Empire State Building. However, it seems as though the concerns over the Greek Debt Crisis have sent this one all the way down to support; and today, it’s bouncing back. While volume isn’t necessarily extraordinary, the stock is climbing in a big way. Currently (12:48), STEM is trading at $0.55 per share after a gain of 8.31% so far today. Considering that this is a bounce back from support and that there hasn’t been much positive news surrounding the stock, I’m not sure that we can expect long term uptrends from STEM. Nonetheless, it’s always nice to see gains of more than 8% in a single day. I will continue to research this one further. If I find any clues as to where it’s going to go, I’ll make sure to update my loyal readers!!!
Anthera Pharmaceuticals Is Also Up Nicely
Anthera Pharmaceuticals Inc (NASDAQ: ANTH)
Finally, Anthera Pharmaceuticals is having a great day in the market today. After a strong rally over the past 4 weeks that sent the stock up nearly 100%, the growth stalled as investors awaited news from the Greek debt crisis. However, today, the stock is back up and in a big way. Currently (11:55), ANTH is trading at $8.25 per share after a gain of 6.60% so far today. Considering the fact that overall investor sentiment surrounding this stock is positive and that it is trading well above its 20 day moving average, it only makes sense that we would see more bullish activity out of ANTH moving forward.
Do You Know Of Any Others?
Do you know of any other stocks in biotech that are gaining big today? If so, let us know in the comments below!