3 Underperforming Pharma Stocks Trying to Bounce Back

The pharma stocks have put up huge losses this year

This morning we're looking at Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN), Rigel Pharmaceuticals, Inc. (NASDAQ:RIGL), and Marinus Pharmaceuticals Inc (NASDAQ:MRNS). All three pharma stocks have had a difficult time on the charts, but today the shares are trying to rebound. Let's dig in to the shares of ALXN, RIGL, and MRNS.

For ALXN, William Blair began coverage with an "outperform" rating and $146 fair value price. This comes after the stock has been stuck in a series of lower highs and lows since the April peak near $141, but the round $100 level could now be acting as support, with the shares last seen at $100.26. Either way, most analysts are still bullish, with 12 of 15 recommending to buy the shares.

RIGL, meanwhile, is up 8.8% at $1.86, after J.P. Morgan Securities upped its price target to $7 from $6 and kept is "overweight" rating in place, citing the company's blood disorder drug Tavalisse. The brokerage firm believes the treatment could bring in more than $11 million in the third quarter and nearly $13 million in the fourth quarter. Despite today's rise, the shares are down almost 25% in the past three months, and are still staring up at their 50-day moving average.

Finally, MRNS is exploding 37.2% higher to $1.88, thanks to news the company's seizure treatment Ganaxolone met its main goals in a phase 2 study. This has the equity above its 50-day moving average for the first time since the massive July bear gap, though the stock's year-over-year deficit remains at more than 80%. Analysts are still betting Marinus Pharmaceuticals can rebound in a big way, since the average 12-month price target is $6.88.