Today’s Market Movers – Eleven Biotherapeutics, Insys Therapeutics, Himax Technologies and Broadcom

NEW YORK, NY / ACCESSWIRE / July 6, 2016 / U.S. markets stumbled Tuesday after posting the largest weekly gain of 2016 last week. Stocks fell as investors continued to sell off their riskier assets, i.e. stocks and commodities, for safe have assets following Britain’s exit from the European Union. A flood of buying has seen the yield on the benchmark 10-year U.S. Treasury note hit a historical low of 1.370 percent. On Tuesday, the Dow Jones Industrial Average and the S&P 500 Index posted declines of 0.61 percent and 0.68 percent, respectively. Register with us now for your free membership and gain access to our daily Market Movers stock reports at: http://rdinvesting.com/

“People are going to be cautious. They are still keeping an eye on the UK and probably don’t want to over commit here,” said John Callany, chief economic strategist at LPL Financial. “There is also some catch up that’s happening, because our markets were closed yesterday and people need to readjust with the jobs report right around the corner.”

Let’s take a closer look at some of Today’s Market Movers:

Eleven Biotherapeutics Inc. (NASDAQ: EBIO)

Get Your Up-To-Date Eleven Biotherapeutics Research Report
at www.rdinvesting.com/company/EBIO

Eleven Biotherapeutics’ shares spiked 14.89 percent to close at $2.16 a share Tuesday. The stock traded between $1.83 and $2.30 on volume of 4.50 million shares traded. The stock appears to be facing some resistance at $2.21 and $2.39 with some support at $1.96 and $1.59. On June 13th, the company announced that it has grant an exclusive, worldwide license to Roche for the development and commercialization of EBI-031 (a potential treatment of ocular diseases) and all other IL-6 antagonist antibody technology owned by Eleven. Shares of Eleven Biotherapeutics have fallen approximately 28.2 percent year-to-date and are up roughly 0.5 percent in the past month.

Insys Therapeutics Inc. (NASDAQ: INSY)

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Insys Therapeutics Research Report at www.rdinvesting.com/company/INSY

Insys Therapeutics’ shares gained 8.31 percent to close at $14.59 a share Tuesday. The stock traded between $14.35 and $17.34 on volume of 7.49 million shares traded. The stock appears to be facing some resistance at $15.30 and $15.99 with some support at $14.52 and $13.54. The company has announced that the U.S. Food and Drug Administration (FDA) has approved Syndros, a pharmaceutical version of tetrahydrocannabinol (“THC”), for the treatment of anorexia associated with weight loss in patients with AIDS, and nausea and vomiting associated with cancer chemotherapy in patients. Shares of Insys Therapeutics have fallen approximately 49.0 percent year-to-date and are down roughly 7.5 percent in the past month.

Himax Technologies,
Inc. (NASDAQ: HIMX)

Get Your Up-To-Date Himax Technologies Research Report at www.rdinvesting.com/company/HIMX

Himax Technologies’ shares jumped 7.22 percent to close at $8.02 a share Tuesday. The stock traded between $7.87 and $8.23 on volume of 7.01 million shares traded. The stock appears to be facing some resistance at $8.14 and $8.48 with some support at $7.46 and $6.99. Analysts at Nomura have recently upgraded its rating on Himax to a “buy” from “neutral”. The company reported preliminary revenues of $201.1 million (correct) for the second quarter of 2016, an 11.5 percent increase when compared to the previous quarter and an 18.8 percent increase when compared to the second quarter of 2015. Shares of Himax Technologies have fallen approximately 2.2 percent year-to-date and are down roughly 20.8 percent in the past month.

Broadcom Ltd. (NASDAQ:
AVGO)

Get Your Up-To-Date Broadcom Research Report at www.rdinvesting.com/company/AVGO

Broadcom’s shares declined 2.24 percent to close at $150.76 a share Tuesday. The stock traded between $149.53 and $151.71 on volume of 2.59 million shares traded. The stock appears to be facing some resistance at $154.31 and $165.77 with some support at $146.97 and $143.63. Analysts at KeyBanc Capital have recently downgraded the company’s price target to $180.00 from $185.00, citing concerns of a “weak 2H16 iPhone 7 ramp”. KeyBanc Capital currently has an “overweight” rating on Broadcom. Shares of Broadcom have gained approximately 9.5 percent year-to-date, but have fallen roughly 7.3 percent in the past month.

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