Idenix Pharmaceuticals Inc (IDIX), GenMark Diagnostics, Inc (GNMK): Horrendous Health-Care Stocks This Week

TESARO Inc (NASDAQ:TSRO) had great news earlier this month. The company’s phase 1 results for niraparib in treating ovarian cancer were very positive. Niraparib also had good results in a study focusing on the treatment of breast cancer and prostate cancer.

However, BMO Capital Markets analyst Jim Birchenough thinks that “the field is getting crowded” already for niraparib, with several drugs on the scene that use similar mechanisms. Birchenough said the niraparib results, as well as positive data for chemotherapy-induced nasea and vomiting drug rolapitant, are reflected in the valuation of TESARO Inc (NASDAQ:TSRO) shares. Although the stock was downgraded, BMO maintains a $36 price target for TESARO Inc (NASDAQ:TSRO).

Spending some pocket change
Which of this week’s three horrendous stocks might still be worthy of throwing some pocket change its way? Any of the three could rebound, but doing so won’t necessarily be easy. My view is to hold off on buying any of these stocks at this point.

There’s too much uncertainty with the FDA’s concerns to jump into Idenix Pharmaceuticals Inc (NASDAQ:IDIX). I’d wait to see how well GenMark Diagnostics, Inc (NASDAQ:GNMK) recovers from the big hit from NMTC’s swinging business to its rival. TESARO Inc (NASDAQ:TSRO) could be the best pick, but the stock could experience considerable volatility. Sometimes the best place for pocket change is in your pocket.

The article 3 Horrendous Health-Care Stocks This Week originally appeared on Fool.com is written by Keith Speights.

Fool contributor Keith Speights and The Motley Fool have no position in any of the stocks mentioned.

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