Healthcare Stocks That Hit New Highs (SGEN, RCEL, REPH,...)

(RTTNews) - The following are the healthcare stocks that hit a new 52-week high on Monday.

Seattle Genetics, Inc. (SGEN) hit a new high of $102.84 in intraday trading on Monday, before closing at $100.89.The stock is up 78% year-to-date.

Seattle Genetics develops and commercializes therapies for the treatment of cancer.

Yesterday, the company announced positive top-line results from its HER2CLIMB trial, sending the stock up over 15%.

HER2CLIMB is a pivotal trial evaluating investigational drug Tucatinib in combination with approved chemotherapy drugs Herceptin and Xeloda against Herceptin and Xeloda alone in patients with locally advanced unresectable or metastatic HER2-positive breast cancer.

The trial met the primary endpoint of progression-free survival, showing that the addition of Tucatinib to the regimen of Herceptin and Xeloda demonstrated a 46 percent reduction in the risk of disease progression or death.

The Company is planning to submit the Tucatinib New Drug Application to the FDA in the first quarter of 2020.

Another drug in the pipeline Enfortumab vedotin, which Seattle Genetics is co-developing with Astellas pharma is under phase III study, dubbed EV-301, for the treatment of metastatic urothelial cancer.

The company had revenues of $218.45 million in the second quarter ended June 30, 2019, compared with $170.17 million in the same quarter a year ago. Analysts expect revenues of $211.83 million in the third quarter, which is going to be reported on October 29, 2019.

Avita Medical Limited (RCEL) jumped to a new high of $9.29 in intraday trading on Monday, before closing at $9.19. The stock has gained nearly 720% year-to-date.

Avita, which was trading on the OTC market, was up-listed to the Nasdaq on October 1, 2019, and was added to the S&P/ASX 300 index, on 23 September 2019.

Avita's lead product RECELL System, an autologous cell harvesting device that produces a suspension of spray-on skin cells using a small sample of the patient's own skin, is indicated for the treatment of acute thermal burn wounds in patients of 18 years and older. The device was approved by the FDA in September last year. The company is exploring additional therapeutic applications for this its proprietary technology.

New data exploring the use of the RECELLSystem in combination with dermabrasion to treat acne scars was reported on September by the Department of Plastic Surgery at Peking Union Medical College Hospital.

The company reported revenues of A$5.24 million in the fourth quarter ended June 30, 2019, compared with A$5.12 million in the last year.

Recro Pharma Inc. (REPH) recorded a new high of $13.18 in intraday trading on Monday, before closing at $13.10. The stock has jumped nearly 90% year-to-date.

Recro Pharma is a revenue-generating, specialty pharmaceutical company that operates through two divisions; Contract Development and Manufacturing (CDMO) and development of non-opioid products for the treatment of acute pain.

The lead product candidate, an injectable form of Meloxicam, a long-acting preferential COX-2 inhibitor for the treatment of acute postoperative pain was rejected by the FDA for the second time, in March this year. Meloxicam has been marketed by Boehringer Ingelheim Pharmaceuticals, Inc. since the 1990s as an oral agent, Mobic, for treatment of symptoms of osteoarthritis and rheumatoid arthritis.

Another drug candidate, Fadolmidine in combination with bupivacaine for the treatment of postoperative pain has successfully completed phase II study.

The company reported revenues of $31.3 million for the three months ended June 30, 2019, compared to $21.7 million for the three months ended June 30, 2018.

For 2019, Recro Pharma expects annual revenue to be in the range of $91 million to $94 million. Analysts expect revenues of $9.52 million for 2019.

Natera, Inc. (NTRA) hit a new high of $40.92 in intraday trading on Monday, before closing at $39.86. The stock has gained nearly 186% year-to-date.

Natera, a genetic testing and diagnostics company, develops and commercializes non-invasive methods for analyzing DNA.

In order to focus squarely on its core genetic testing business in reproductive health, oncology and organ transplantation, Natera divested its Evercord cord blood and tissue banking business to CBR, a California Cryobank Life Sciences company, last month.

Natera had revenues of $74.4 million in the second quarter ended June 30, 2019, compared to $63.1 million in the second quarter of 2018.

The company anticipates total revenue in the range of $275 million to $305 million in 2019, while analysts expect revenue of $293 million for the year.

U.S. Physical Therapy, Inc. (USPH) touched a new high of $141.93 in intraday trading on Monday, before closing at $140.00. The stock is up nearly 37% year-to-date.

The company operates physical therapy clinics that provide pre- and post-operative care and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers, and neurological-related injuries.

U.S. Physical Therapy said on October 2 that it has acquired 67% interest of an 11-clinic physical therapy practice for approximately $12.3 million. The practice generates $6.6 million in annual revenue.

Net revenues in the second quarter of 2019 increased by 9.8% to $126.4 million from $115.1 million in the second quarter of 2018.

The company expects revenues of $121.33 million in the third quarter. Third-quarter results are to be announced on November 7, 2019.