Biotech Bearish Stocks: Achillion Pharmaceuticals (NASDAQ:ACHN), Galena Biopharma (NASDAQ:GALE), Insmed Incorporated (NASDAQ:INSM), CytRx Corporation (NASDAQ:CYTR)

Technology Stocks News 14

Achillion Pharmaceuticals Inc (NASDAQ:ACHN) was upgraded by investment analysts at Maxim Group from a “hold” rating to a “buy” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $6.00 price target on the stock. Maxim Group’s target price would suggest a potential upside of 62.16% from the stock’s previous close. Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) stock performance was -7.30% in last session and finished the day at $3.43. Traded volume was 1.93million shares in the last session and the average volume of the stock remained 2.06million shares. The beta of the stock remained 1.54. Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) insider ownership is 0.10%.

Kriegsman is a director of Galena Biopharma Inc (NASDAQ:GALE), which is facing a suit for engaging the services of DTG and MissionIR. Galena Biopharma Inc (NASDAQ:GALE)’s deception was revealed by journalist Adam Feuerstein of TheStreet.com, who discovered that the articles were paid for and that during the promotion Kriegsman offloaded $2.1 million of personal stock in the company. Galena Biopharma Inc (NASDAQ:GALE) dropped -7.72 percent to $2.39 Wednesday on volume of 4.82million shares. The intra-day range of the stock was $2.38 to $2.62. Galena Biopharma Inc (NASDAQ:GALE) has a market capitalization of $281.73million.

Insmed Incorporated (NASDAQ:INSM) shares slid 12.8 percent to $15.96 after the company said its only experimental drug failed to meet the main goal of a mid-stage trial on patients with a form of bacterial lung infection. Insmed Incorporated (NASDAQ:INSM)’s stock on Mar 26, 2014 reported a decrease of -13.09% to the closing price of $15.90. Its fifty two weeks range is $6.56 -$22.29. The total market capitalization recorded $624.49million. The overall volume in the last trading session was 7.81million shares. In its share capital, INSM has 39.19million outstanding shares.

Shareholders in Los Angeles-based bio-pharmaceutical research and development company CytRx Corporation (NASDAQ:CYTR) have filed a class action against the company, claiming that it paid writers to author articles in order to artificially inflate its stock price, Courthouse News Service’s Securities Law Review reports. On Wednesday, shares of CytRx Corporation (NASDAQ:CYTR) dropped -9.49% to close the day at $3.34. Company return on investment (ROI) is -257.90% and its monthly performance is recorded as -45.87%. CytRx Corporation (NASDAQ:CYTR) quarterly revenue growth is -23.57%.

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