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.

Array Biopharma Inc (ARRY), InterMune Inc (ITMN): Three Humongous Health-Care Stocks This Week

After extensive research, number-crunching, sorting, and filtering, the results are in. Here are your three most humongous performers in the world of health-care this week.

Array Biopharma Inc (NASDAQ:ARRY)

Breathing easier

Array Biopharma Inc (NASDAQ:ARRY) shares climbed nearly 18% this week. The company announced positive results from a phase 2 study of its experimental asthma drug ARRY-502.

The study included 184 patients with mild-to-moderate persistent allergic asthma. ARRY-502 met the study’s primary endpoint of significant improvement in a key measure of lung function. Several secondary endpoints were also successfully met, including statistically significant improvement in asthma control and symptom-free days during treatment.

Piper Jaffray bumped its price target for Array Biopharma Inc (NASDAQ:ARRY) up from $7 to $10 after the good results were announced. That represents more than a 50% upside potential from the stock’s current price. Array Biopharma Inc (NASDAQ:ARRY) says that it’s now looking for an “appropriate partner” to help complete development and potentially market ARRY-502.

An “alley-oop” from the opponent

Prosensa Holding NV (NASDAQ:RNA) shares made something of a slam dunk this week, jumping more than 16%. That dunk was made with what amounts to an “alley-oop” from its primary rival, Sarepta Therapeutics Inc (NASDAQ:SRPT).

Sarepta Therapeutics Inc (NASDAQ:SRPT) announced on Thursday that it plans to seek approval for Duchenne muscular dystrophy, or DMD, drug eteplirsen without assurances from the Food and Drug Administration about an accelerated approval pathway. The biotech completed a phase 2 study for eteplirsen that showed impressive results. However, the small number of patients involved could present a hurdle for FDA approval.

In the meantime, Prosensa Holding NV (NASDAQ:RNA), along with partner GlaxoSmithKline plc (ADR) (NYSE:GSK), continue to plug ahead with a phase 3 study of DMD drug drisapersen that includes 186 participants — much larger than the 12 boys in Sarepta Therapeutics Inc (NASDAQ:SRPT)’s mid-stage study. Initial results from the study are expected in late 2013. An FDA approval could be forthcoming as early as the second half of next year.

Lunging forward

InterMune Inc (NASDAQ:ITMN) announced second-quarter earnings on Wednesday. Higher-than-expected revenue helped shares advance almost 16% for the week.

The company’s good news stemmed from strong sales growth for Esbriet, which is used in the treatment of idiopathic pulmonary fibrosis, a progressive form of lung disease. InterMune Inc (NASDAQ:ITMN) reported that sales of the drug were $14.4 million during the second quarter. Analysts expected $12 million.

With solid sales in the last quarter, InterMune Inc (NASDAQ:ITMN) now expects full-year revenue of $55 million to $70 million. That’s a nice jump from the previous revenue guidance of $40 million to $55 million.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.