On July 16, Daré Biosciences’ (DARE) stock price closed at $1.43, which represents ~10.33% growth from its closing price of $1.30 on July 15. Daré Biosciences closed at $1.43 on July 13, reflecting ~93.0% growth from its 52-week low of $0.74 on April 3.
Daré Biosciences is a biopharmaceutical company in its clinical stage that focuses on the development of women’s reproductive health products.
Behind the increase in DARE’s stock price
On July 16, Daré Biosciences (DARE) entered into an asset transfer agreement with Hydra Biosciences. Hydra Biosciences is expected to transfer all of its intellectual property associated with Hydra Biosciences’ CatSper ion channel target portfolio.
CatSper ion channels (or cation channels of sperm) are the new targets for nonhormonal contraceptives. The inhibition of the cation channels of sperm restricts the motile state necessary for fertilization.
The acquisition of Hydra Biosciences’ intellectual property on the CatSper portfolio is expected to allow Daré Biosciences to develop therapies associated with the CatSper target. With this agreement, Daré Biosciences would have the potential to develop the first-in-class nonhormonal therapies for both male and female users.
In May, Daré Biosciences initiated its post-coital test (or PCT) clinical trial with its nonhormonal contraceptive vaginal ring, OvaPrene. Daré Biosciences expects to see data from the clinical trial during the second quarter of 2019.
Analysts’ recommendations for DARE and its peers
One analyst tracking Daré Biosciences in July recommended a “buy” rating. On July 16, Daré Biosciences had a consensus 12-month target price of $6.00, which represents an ~319.58% return on investment over the next 12 months.
In July, one analyst tracking Immune Pharmaceuticals (IMNP) recommended a “buy” rating. All three analysts tracking Catabasis Pharmaceuticals (CATB) recommended a “strong buy.” Both of the analysts tracking Heat Biologics (HTBX) stock recommended a “buy” rating.
Analysts expect Hasbro (HAS) to report a revenue decline of 13.6% to $840.1 million in the second quarter of fiscal 2018. Here's why.
Hibbett Sports (HIBB) stock surged 22.3% as of 1:54 PM ET today as the company reported impressive results for fiscal 2019's fourth quarter, which ended on February 2.
Wall Street analysts expect a potential upside of 21.63% for Alexion Pharmaceuticals based on the stock's closing price on March 21.
Today, we got another round of dismal data points from Europe (VGK)(EZU). According to a Markit survey, Germany’s (EWG) March PMI Composite Output Index fell to a 69-month low of 51.5.
On March 21, US crude oil’s implied volatility was 24.9%, which was 6.7% below its 15-day average. Usually, lower implied volatility supports oil prices.
The overall cannabis sector took a hit today amid the broader market's declines. The volatility index (VIX) jumped 17.9%, and the cannabis sector is more sensitive than the market.
The tech-heavy NASDAQ Composite Index (QQQ) is on track to post its 12th weekly gain in 13 weeks.