Mid-day Healthcare Movers: Amarin & Amicus Therapeutics Jump On Positive News

Amarin Corporation (NASDAQ:AMRN) is the notable percentage gainer and added 10.71% to $14.54 and made a new 52-week high of $15.40 earlier in the session as U.S. patent examiners appear poised to approve a family of key patents that could protect its AMR101 prescription fish oil pill from generic competition through 2030. Moreover, this morning analyst at Jefferies lifted its price target on the stock by $2 to $26, citing bullish on the prospects for approval...

Amarin Corporation (NASDAQ:AMRN) is the notable percentage gainer and added 10.71% to $14.54 and made a new 52-week high of $15.40 earlier in the session as U.S. patent examiners appear poised to approve a family of key patents that could protect its AMR101 prescription fish oil pill from generic competition through 2030. Moreover, this morning analyst at Jefferies lifted its price target on the stock by $2 to $26, citing bullish on the prospects for approval. The firm has a "Buy" rating on the stock.

AVI BioPharma, Inc. (NASDAQ:AVII) turned lower and was recently down 1.50% to $0.64, off session high of $0.70 despite the FDA has issued Orphan Drug Status to the company for its Ebola/Marburg viruses prevention drug. Over the past three months, the stock has shown heavy selling and lost over 59%. Technically, the stock has been showing strong support at around $0.60 area. Yesterday, the stock was up 6.56% to $0.65.

Amicus Therapeutics, Inc. (NASDAQ:FOLD) said that the company has positive results from an ongoing Phase 2 open-label drug-drug interaction study to evaluate the safety and pharmacokinetic effects of the pharmacological chaperone AT2220 co-administered with enzyme replacement therapy  for Pompe disease. Shares of the company are up 2.43%, extending its yesterday's rally of 6.67%.

Bristol Myers Squibb Co. (NYSE:BMY) announced that its board of directors another $3 billion in share buyback. This is in addition to the company's prior approval of $3 billion repurchase program of which the company has pending commitment for approximately $340 million remaining. In total out of the company's total authorized $6 billion, the company has approximately $3.34 billion remains to be used for future repurchases, the company said. Shares of BMY are up 1.65%.

CEL-SCI Corporation (NYSEAMEX:CVM) is showing unusual volume and gained 3.82% to $0.359 on average volume as the company's CEO Geert Kersten signaled that the firm's Phase 3 trials for Multikine treatment for head and neck cancer are going well. He noted in a national radio interview that "Based on everything that we've seen in the clinic so far, if we continue to see the same results, we will have the first non-toxic cancer therapy."

MRI Interventions Inc (OTCBB:MRIC) resumed its uptrend and rose 10.24% to $1.40 after falling over 5% in the prior session. Late Monday, the company along with Brainlab AG today announced an alliance with Tocagen Inc. in the fight against the most aggressive form of brain cancer, recurrent high grade gliomas including glioblastoma multiforme (GBM).

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