Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Why Valeant, Progenics, Ryerson, Zafgen and TerraForm Are On The Move Today

Page 1 of 2

U.S stocks headed back into the green on Wednesday, helped by strong earnings reports from the tech sector and a rebound in oil prices, driven by a slightly higher than expected decline in crude inventories. A few stocks posting relevant moves today included Valeant Pharmaceuticals Intl Inc (NYSE:VRX), Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX), Ryerson Holding Corp (NYSE:RYI), Zafgen Inc (NASDAQ:ZFGN), and TerraForm Global Inc (NASDAQ:GLBL). Let’s take a look into the events behind the movement in these stocks and  see what the funds in our database think about these companies.

At Insider Monkey, we track around 765 hedge funds and other institutional investors. Through extensive backtests, we have determined that imitating some of the stocks that these investors are collectively bullish on can help retail investors generate double digits of alpha per year (see more details about our small-cap strategy).

stock, trading, market, trader, traders, investor, investment, screen, bank, banking, share, broker, graph, business, chart, index, data, information, capital, team, money,

Matej Kastelic/

Progenics and Valeant Spike On Relistor Approval

Let’s start with Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX), which has gained 23.41% on Wednesday after the FDA approved an oral formulation of RELISTOR (methylnaltrexone bromide) for the treatment of opioid-induced constipation in adults with chronic non-cancer pain. Also benefiting from the news is exclusive licensee Valeant Pharmaceuticals Intl Inc (NYSE:VRX), which is up by more than 4.6% today. The company expects to start marketing the drug in the U.S some time in the third quarter of the year. Furthermore, another piece of news helping Valeant was the FDA’s approval of its psoriosis treatment Brodalumab, on the condition that it takes measures to mitigate suicide risk through effective labeling and development of a suicide risk management plan.

Follow Valeant Pharmaceuticals International Inc. (NYSE:VRX)
Trade (NYSE:VRX) Now!

71 funds in our database were long Valeant Pharmaceuticals Intl Inc (NYSE:VRX) at the end of the first quarter, including Bill Ackman‘s Pershing Square, which held a stake comprising 21.59 million shares. For its part, Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) counted the support of 14 funds in our database on March 31, including Kevin Kotler’s Broadfin Capital, which declared holding almost 9 million shares of the company as of that date.

Follow Progenics Pharmaceuticals Inc (NASDAQ:PGNX)
Trade (NASDAQ:PGNX) Now!

We’ll dig into the latest news concerning three other stocks on the next page.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!