Four Stocks You Probably Never Heard Of That Gained On Friday
Investors that keep an open mind and strive to learn about new companies and not shy away from segments that seem unfamiliar tend to perform better. There are many “hidden gems” in the stock market universe just waiting to be explored.
Here is a list of four stocks that many investors aren’t necessarily familiar with but rewarded investors and traders during Friday’s trading session. Do you own any of them?
Depomed: Patent Litigation Win
Depomed (NADSAQ: DEPO), a specialty pharmaceutical company, saw its stock gain more than 4 percent and hit a new 52-week high of $27.02 after it confirmed that a U.S. District Judge ruled in favor of Depomed in a patent litigation for its entire NUCYNTA franchise.
One patent will expire on February 5, 2023 and another will expire on December 27, 2025.
Global Blood Therapeutics Surges On Bullish Sell Side Commentary
Global Blood Therapeutics (NASDAQ: GBT), a clinical-stage biopharmaceutical company that focuses on the treatment of blood-based disorders, soared higher by more than 12 percent.
Analysts at Wells Fargo initiated coverage of the stock with an Outperform rating and a valuation range of $75 to $81. The analysts further suggested that the company’s therapy could see peak sales of $2.7 billion.
Nutanix: Triple Digit Percentage Gain
Nutanix (NASDAQ: NTNX) saw its shares trade in a public exchange for the first ever on Friday. The company provides an enterprise cloud platform and priced its IPO at $16. By the end of Friday’s trading session the stock soared 131 percent to close at $37.00.
Nova LifeStyle Gains On Share Transfer Agreement
Nova LifeStyle (NASDAQ: NVFY), a U.S.-based designer, manufacturer and distributor of modern lifestyle furniture, saw its stock soar higher by more than 45 percent after the company announced a Share Transfer Agreement for its manufacturing operations in mainland China to a company called Kuka Design Limited for $8.5 million.
Emergent Biosolutions Gains On Contract Win
Emergent Biosolutions (NYSE: EBS), a biopharmaceutical company that provides specialized products to healthcare providers and governments, saw its stock gain more than 13 percent on Friday.
Emergent Biosolutions said that it signed a new multi-year agreement with a division of the U.S. Department of Health and Human Services for the advanced development and delivery of NuThrax, an anthrax vaccine.
The contract is valued as high as $1.6 billion and the company noted that it expects the U.S. Food and Drug Administration to authorize NuThrax for emergency use as early as 2018.