Healthcare stocks showed plenty of life on Tuesday as the sector improved 0.17% on the day with Genetic Technologies Limited (ADR) (NASDAQ: GENE) showing the biggest percentage improvement with a 18.45% increase to close at 0.95. The company, which operates as a life science company specializing in the fields of genetics and genomics primarily in Australia, pushed past the 50-day moving average of 0.82 yet remain below the 200-day moving average of 1.05.
Having announced earlier this month that they would be expanding their global business development efforts shares in Bioanalytical Systems, Inc. (NASDAQ: BASI) climbed 13.04% on Tuesday to close at 1.30. The company, which provides contract development services and research equipment to pharmaceutical, medical research, and biotechnology companies and institutions worldwide, climbed as high as 1.32, a six-month high, and shares remain above the 50-day moving average of 0.93 and 200-day moving average of 0.96.
Following news that reported positive results from a key clinical trial of its experimental multiple myeloma drug, carfilzomib shares in Onyx Pharmaceuticals, Inc. (NASDAQ: ONXX) jumped 13.46% on Tuesday to close at 33.29. ONXX, a biopharmaceutical company engaged in developing therapies targeting the molecular mechanisms causing cancer in the United States and internationally, saw trading volume above 4.3 million shares as the price climbed as high as 33.92, a new 52-week high. Shares are well above the 50-day moving average of 28.25 and 200-day moving average of 26.76.
Cardium Pharma Corp. (NASDAQ: CRME), a life sciences company focused on developing drugs to treat or prevent cardiovascular diseases, saw shares rise 11.28% on the day to close at 5.82 following volume that pushed past 3x the trading average. The strong day moved shares past the 50-day moving average of 5.50 but it still trails the 200-day moving average of 6.92.
Investors betting on a favorable FDA advisory review stimulated shares in Vivus, Inc. (NASDAQ: VVUS) on Tuesday as shares climbed 10.64% on the day to close at 7.80. By the end of the day that favorable review came and it will likely lead shares to climb even higher tomorrow. Shares remain above the 50-day moving average of 6.62 and are nearing the 200-day moving average of 8.21, something that should be surpassed on Wednesday.