Takeda Pharmaceutical Co Ltd (NYSE:TAK) shares are down on Friday morning as the company is reportedly demonstrating positive Phase 3 data for its drug Entyvio.
This news comes as the broader market experienced mixed performance, with the S&P 500 and Nasdaq both showing slight gains while the Dow Jones declined.
• What’s next for TAK stock?
Takeda’s recent announcement highlights the potential of Entyvio (vedolizumab) to address treatment gaps for patients with ulcerative colitis and Crohn’s disease.
Trial Data
Takeda released positive data from the pivotal Phase 3 KEPLER trial of Entyvio (vedolizumab) for patients aged between two and 17 years with moderately to severely active ulcerative colitis, a chronic inflammatory disease of the gastrointestinal tract.
The company reported that the drug demonstrated significant efficacy in clinical trials, which may prompt increased interest from investors and healthcare professionals alike.
Nearly half (47.3%) of participants achieved the primary endpoint of clinical remission at week 54.
More than one-third (34.7%) of patients achieved clinical remission at 14 weeks (secondary endpoint).
Greater than 1 in 4 (29%) participants attained the secondary endpoint of sustained clinical remission at both weeks 14 and 54.
This positive outcome could enhance Takeda’s market position and drive further research and development investments.
The broader market experienced mixed performance on the previous trading day, with the Dow Jones falling by 0.24% while the S&P 500 and Nasdaq both gained marginally. Takeda’s stock movement aligns with the slight uptick in the health care sector, which remained stable despite the overall market’s fluctuations.
Technical Analysis Shows Overall Strength
Currently, the stock is trading 1.5% above its 20-day simple moving average (SMA) and 3.2% above its 100-day SMA, indicating a positive short-term trend.
Over the past 12 months, shares have increased by 12%, and they are currently positioned closer to their 52-week highs than lows, reflecting overall strength in the stock’s performance.
The RSI is at 50.00, which is considered neutral territory, suggesting the stock is neither overbought nor oversold. Meanwhile, MACD is at 0.10, below its signal line at 0.15, indicating bearish pressure on the stock.
The combination of neutral RSI and bearish MACD suggests mixed momentum for Takeda’s shares.
- Key Resistance: $19
- Key Support: $18
TAK Price Action: Takeda Pharmaceutical shares were down 0.64% at $18.55 at publication on Friday, according to Benzinga Pro data.
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