Healthcare Stocks That Hit New Highs (DXCM, ZLAB, PODD)

(RTTNews) - The following are the healthcare stocks that hit a new 52-week high on Monday.

1. Zai Lab Limited (ZLAB) hit a new high of $39.49 in intraday trading on Monday, before closing at $39.40. The stock is up nearly 70% year-to-date.

Zai Lab is a commercial stage biopharmaceutical company.

The company has a broad late-stage pipeline in oncology and infectious disease, including:

Durlobactam, in combination with sulbactam, for the treatment of a variety of serious multidrug-resistant infections caused by A.baumannii that the company is co-developing with Entasis Therapeutics is under a phase III study. Acinetobacter baumannii is an opportunistic bacterial pathogen primarily associated with hospital-acquired infections.

Ripretinib, in-licensed by Zai Lab from Deciphera Pharmaceuticals Inc. (DCHP) for the development and potential commercialization into mainland China, Hong Kong, Macau, and Taiwan the Greater China region, is under phase III trial in second-line Gastrointestinal Stromal Tumors (GIST) patients, dubbed INTRIGUE.

A pivotal Phase 3 study of Ripretinib in patients with fourth-line and fourth-line plus GIST, dubbed INVICTUS is also underway. Positive top-line data were reported in August.

Margetuximab, for the treatment of HER2-positive metastatic breast cancer patients, successfully completed a phase III study, dubbed SOPHIA, in February of this year. Margetuximab was licensed from MacroGenics Inc. (MGNX) in November 2018. Zai Lab has rights for this drug candidate in mainland China, Hong Kong, Macau, and Taiwan. MacroGenics expects to submit a biologics license application for Margetuximab to the U.S. FDA for HER2-positive metastatic breast cancer this year.

Bemarituzumab for the treatment of patients with previously-untreated advanced gastric cancer is under an international phase III trial, dubbed FIGHT. The Company licensed Bemarituzumab from Five Prime (FPRX) in December 2017. Zai Lab is responsible for the China portion of the FIGHT study.

Zai Lab had revenues of $3.42 million during the six months ended June 30, 2019, compared to nil in the corresponding period last year.

2. DexCom, Inc. (DXCM) recorded a new high of $205.93 in intraday trading on Monday, before closing at $205.68. The stock has gained 70% year-to-date.

DexCom is a medical device company, focusing on the design, development, and commercialization of continuous glucose monitoring (CGM) systems.

Recent event: The company reported upbeat earnings in the third quarter on November 7, 2019, and raised full-year revenue outlook.

Net income on an adjusted basis rose to $60.4 million or $0.65 per share from $15.9 million or $0.18 per share in the year-earlier period. Analysts had a consensus earnings estimate of $0.20 per share.

Revenue in the third quarter grew 49% to $396.3 million from $266.7 million in the year-earlier quarter.

The company has raised its full-year revenue expectation to a range of $1.425 billion to $1.450 billion from its previous forecast range of $1.325 billion to $1.375 billion. Analysts expect the company to report revenue of $1.37 billion.

3. Insulet Corporation (PODD) jumped to a new high of $174.18 in intraday trading on Monday, before closing at $173.99. The stock is up nearly 120% year-to-date.

Insulet Corporation is a medical device company developing insulin delivery systems.

Recent event: The company reported better-than-expected revenue in the third quarter on November 5, 2019, and raised full-year revenue guidance.

Third-quarter revenue was $192.1 million, up 27%, compared to $151.1 million in the prior-year quarter.

Net income was $0.9 million, or $0.01 per share, compared with $1.7 million, or $0.03 per share, in the year-ago quarter.

In the third quarter, Insulet started the installation of its new highly-automated manufacturing facility in the U.S., with production on this line expected to commence in 2020.

For the fourth quarter, the company expects revenue in the range of $193 million to $201 million. The analysts' expectation is $199.08 million.

The company foresees full-year revenue in a range of $722 million to $730 million, representing growth of 28% to 29% compared to 24% to 27%, guided earlier. Analysts see revenue of $725.67 million for the year.