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10 Pharma Stocks Under $3

NEW YORK ( TheStreet) -- The pharma sector witnessed strategic merger and acquisition activity in 2011 with Johnson & Johnson acquiring Dutch biopharmaceutical company Crucell. In fact, pharma companies are eyeing such deals ahead, especially biotech firms looking to build their product portfolio.

Global expenditure for medicines is expected to reach almost $1.1 trillion by 2015, with a five-year compound annual growth rate of 3% to 6%, according to the IMS Institute. Further, the institute adds that spending on medicines in pharmerging markets will double to $285 billion to $315 billion over the next five years from $151 billion in 2010. This will catapult pharmerging markets to the second position, in terms of spending on medicines.

The stocks are stacked based on upside, great to greatest.


10. YM BioSciences (YMI), a biopharmaceutical company engaged in the development of products for the treatment of cancer, owns or licenses substances or products to advance them along the regulatory and clinical pathways toward commercial approval. The company conducts and outsources clinical trials and subcontracts the manufacture of clinical materials to third parties.

Of the 10 analysts covering the stock, 90% recommend a buy and the remaining rate a hold. There are no sell ratings on the stock. The stock's average 12-month price target is $5.08, about 91% higher than the current price, as per a Bloomberg consensus.

Cash and cash equivalents for the third quarter of 2011 were reported at $21.5 million as compared to $19.8 million in the year-ago quarter. The company's current ratio has increased to 17.25 from 10.69 recorded in the third quarter of 2010, indicating its strong ability to meet short-term requirements. Moreover, its licensing and product development expenses grew to $5.3 million from $4.6 million in the year-ago quarter.

The company recently reported updated interim safety and efficacy results from the Phase I/II study of its JAK1/JAK2 inhibitor, CYT387, for the treatment of myelofibrosis. The Dose Expansion Phase of the study is beginning to report data, and the comprehensive study results are anticipated in the fourth quarter of 2011.

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