Shares of Adamis Pharmaceuticals Corp. (ADMP) rose 5.2% to $6.05 in premarket trading on Friday, June 16, on the heels of the San Diego firm's June 15 announcement that it has secured U.S. Food and Drug Administration approval for its epinephrine pre-filled syringe for treating allergic reactions like anaphylaxis. The agency has also approved the trade name of Symjepi.
Shares of Mylan N.V. (MYL) , maker of the EpiPen and target of Washington scrutiny due to dramatic price increases in its allergy treatment, fell 14 cents to $36.82 in early trading Friday due to the prospect of added competition.
Meanwhile, shares of Impax Laboratories Inc. (IPXL) were up 4.7% to $14.50. Cantor Fitzgerald & Co. analyst Louise Chen on June 15 began coverage of the Hayward, Calif.-based firm with an overweight rating and a $20 price target.
"We think the new CEO, Paul Bisaro, can help transform Impax from a mid-size generics company into a leading generics and specialty pharma company," Chen wrote. "Therefore, we expect upward earnings revisions to drive Impax's stock higher."
Among the other biotech stock movers was Acorda Therapeutics Inc. (ACOR) . Shares of the Ardsley, N.Y.-based firm were up 6.4% to $18.20.
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