Biotech Hot Buzz (ARAY, ABT, PPHM, DNDN, GALE)

Los Angelas, CA -- (SBWIRE) -- 01/04/2013 -- Accuray Incorporated (NASDAQ:ARAY) announced that it will lay off 13 percent of its total workforce under a restructuring plan. The producer of CyberKnife, a robotic system to treat solid tumors, has also lowered its second quarter as well as full year outlook for 2013. Shares tumbled 25.52 percent to $5.05 in premarket trading.

How Should Investors Trade ARAY Now? Find Out Here

Abbott Laboratories (NYSE:ABT) surged up 3.81% and closed at $33.27 on a traded volume of 22.15 million shares. The Company announced that the XIENCE Xpedition Everolimus Eluting Coronary Stent System received U.S. Food and Drug Administration approval and is launching immediately in the United States, providing physicians with a technology with the size matrix in the U.S. market. XIENCE Xpedition features a new stent delivery system designed to optimize deliverability, particularly in challenging coronary anatomies.

How Should Investors Trade ABT After The Recent Volatile Moves? Find Out Here

Peregrine Pharmaceuticals (NASDAQ:PPHM) shares closed at $1.27. Zacks upgraded shares of Peregrine from a neutral rating to an outperform rating in a research report sent to investors last week. The firm currently has $1.50 price target on the stock. The company is a biopharmaceutical company developing monoclonal antibodies for the treatment and diagnosis of cancer.

How Should Investors Trade PPHM Now? Find Out Here

Dendreon Corporation (NASDAQ:DNDN) was also among the stocks of the Biotechnology industry which were in bearish claws and fell -0.52%. The volume of the stock remained 4.20 million shares and average volume was 4.22 million shares.

The market capitalization of DNDN remained 893.50 million.

The 3 months performance of the stock was outstanding and showed a gain of +28.67%. The year to date performance also cleared it as a bull as it grew +9.45%.

How Should Investors Trade DNDN After The Recent Volatile Moves? Find Out Here

Galena Biopharma Inc (NASDAQ:GALE) shares moved up +5.29% to $1.79 in early trading hours with the total volume of 1.53 million shares. Stock price 52 weeks high was $3.54 and its 52 weeks low price was $0.43. GALE has market cap of 121.72 million and its beta value stands at 0.67 times. GALE has positive year-to-date performance of +11.11%. Galena Biopharma, Inc. (Galena), formerly RXi Pharmaceuticals Corporation, is a biotechnology company focused on discovering, developing and commercializing therapies addressing unmet medical needs using targeted biotherapeutics.

How Should Investors Trade GALE Now? Find Out Here

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