Post by Deleted on Jan 21, 2017 21:30:05 GMT
The stock market had a good year in 2016, with double-digit percentage returns rewarding investors who stayed invested despite the aging bull market. Yet even though those gains are solid, they pale in comparison to the much larger increases in share prices that some individual stocks saw. In particular, Freeport-McMoRan (NYSE:FCX), SodaStream International (NASDAQ:SODA), and Array BioPharma (NASDAQ:ARRY) have all tripled in value over the past 12 months, and different factors led to their respective success. Let's look more closely at these three stocks to see why they tripled and whether any further gains are likely.
Array looks healthier
Array BioPharma specializes in cancer-fighting treatments, and the biopharmaceutical company got good news last year from its drug development pipeline. The company applied to the U.S. Food and Drug Administration for approval of Array's binimetinib treatment for skin cancer, which showed evidence of dramatic improvement in survival versus traditional chemotherapy, and investors look forward to FDA consideration by mid-2017. More good news came from a combination study involving binimetinib and fellow drug encorafenib, and investors are hopeful that both will eventually gain FDA approval to fight melanoma, which has become increasingly common.
Looking ahead, Array has other prospects for growth. Its skin-cancer treatments show some promise in helping patients with colorectal cancer, which would open up a whole new target population for the company. At the same time, other candidate treatments also have the potential to produce impressive results of their own. Investors should watch Array closely in 2017 to see how its various drug programs proceed.
It's rare to see a stock triple in a single year, but these three stocks have beaten the odds. Turnaround stories like Freeport and SodaStream often build momentum that can last longer than one would think, and Array's prospects hinge on whether it can keep finding successful treatments with blockbuster potential.
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Array looks healthier
Array BioPharma specializes in cancer-fighting treatments, and the biopharmaceutical company got good news last year from its drug development pipeline. The company applied to the U.S. Food and Drug Administration for approval of Array's binimetinib treatment for skin cancer, which showed evidence of dramatic improvement in survival versus traditional chemotherapy, and investors look forward to FDA consideration by mid-2017. More good news came from a combination study involving binimetinib and fellow drug encorafenib, and investors are hopeful that both will eventually gain FDA approval to fight melanoma, which has become increasingly common.
Looking ahead, Array has other prospects for growth. Its skin-cancer treatments show some promise in helping patients with colorectal cancer, which would open up a whole new target population for the company. At the same time, other candidate treatments also have the potential to produce impressive results of their own. Investors should watch Array closely in 2017 to see how its various drug programs proceed.
It's rare to see a stock triple in a single year, but these three stocks have beaten the odds. Turnaround stories like Freeport and SodaStream often build momentum that can last longer than one would think, and Array's prospects hinge on whether it can keep finding successful treatments with blockbuster potential.
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