Biomarin Pharma Announces Positive Study Results and 3 Stocks Riding 52-Week Highs
American States Water (NYSE:AWR) has reported a Q3 EPS of 97c, consensus 80c. The shares closed at $44.74, up $1.26 or 2.9% on the day. They have traded in a 52-week range of $33.56 to $45.40.
Biomarin Pharmaceutical (NASDAQ:BMRN) made an announcement that the Phase 3 study of GALNS met the primary endpoint of change in six-minute walk distance versus with placebo at 24 weeks in subjects that recieved weekly infusions of GALNS with a dose of 2 mg/kg. MOR-004 was a randomized, double-blind, placebo-controlled study evaluating two doses of GALNS, or BMN-110, N- acetylgalactosamine-6-sulfatase, to treat patients diagnosed with the rare lysosomal storage disorder Mucopolysaccharidosis Type IVA, also called Morquio A Syndrome. Patients given GALNS at 2 mg/kg every other week didn’t indicate a meaningful or statistically significant change from baseline compared to placebo. Additionally, the company announced preliminary data from the MOR-005 extension study suggesting that clinical benefits keep improving with further dosing with GALNS. Only a limited amount of patients have reached the 36 or 48 week points of total time on treatment in the extension study, and the results are to be updated with the completion of the study. The company confirmed that considering the results of MOR-004, and following planned discussions with regulatory authorities, it believes it can submit marketing applications beginning during Q1 of 2013. The shares closed at $49.07, up $11.66 or 31.17% on the day. They have traded in a 52-week range of $30.06 to $44.18.
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Genesee & Wyoming (NYSE:GWR) guided its Q4 EPS which excludes the RailAmerica acquisition and financing-related expenses to about 80c, compared to the consensus estimate of 84c. The company predicts that Q4 revenue will total $225 million to $230 million, compared to the consensus estimate of $224 million. The shares closed at $74.02, up $2.53 or 3.54% on the day. They have traded in a 52-week range of $47.08 to $73.75.
Internet Capital Gro (NASDAQ:ICGE) reports a Q3 revenue totaling $51.2 million, consensus $51.28 million. The company’s net income for Q3 of 2012 included gains that were mostly related to a fair value gain recorded upon the consolidation of Channel Intelligence/myList. The shares closed at $10.97, up $0.16 or 1.48% on the day. They have traded in a 52-week range of $7.22 to $11.65.
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