2. SuperGen ( SUPG) discovers and develops therapies for the treatment of cancer. Besides, it also acquires products developed by other companies and applies additional developmental effort to expand sales. For the latest fourth quarter, the company's revenues increased to $15.3 million from $11.9 million in the year-ago quarter. Net income multiplied to $6.7 million from $2.3 million earlier. For full-year 2010, SuperGen's revenue and net income increased 28.4% and 401.3% to $52.9 million and $15.9 million respectively. For 2011, the company pegs net income below $14 million, coming in line with analysts' estimates. Royalty revenue for its product Dacogen is expected to increase by 5% from the previous guidance range of $52 to $55 million. Research and development expenses are seen increasing in the range of $29 to $32 million from 2009. All the three analysts covering the stock recommended a buy on the stock. The stock's average 12-month price target is $8, or 207.7% higher than the current price, as per analysts surveyed by Bloomberg.
Shares of Northgate Minerals Corporation (AMEX:NXG) were gapping up Monday morning with an open price 37.5% higher than Friday's closing price. The stock closed at $3.15 yesterday and opened today's trading at $4.33.
Northgate Minerals Corporation (AMEX:NXG) is trading at unusually high volume Thursday with 7.5 million shares changing hands. It is currently at 4.1 times its average daily volume and trading up 11 cents (+3.8%).
Gold prices are falling Monday as investors brace for the outcome of the U.S. midterm elections, the outcome of the upcoming Federal Reserve meeting this week and the dollar receives a boost better-than-expected economic data is released.