MARKET CURRENTS
real-time news and commentary for investors
MARKET CURRENTS
-
Today - Thursday, May 24, 2012
-
7:21 PM 3D Systems (DDD) acquires Bespoke Innovations, a startup based in San Francisco, California that develops proprietary, integrated scan, design and print technology designed to deliver custom fit prosthetics, orthotics and orthopedic devices, for an undisclosed sum. The company also reafirms its forecast, saying the acquisition will not be material to its revenue for the remainder of 2012. Shares -3% AH. Comment!
-
7:14 PM Delcath Systems (DCTH) said it plans to sell shares of its common stock and warrants to purchase shares to raise funds to develop and commercialize its medical devices and specialty pharmaceutical products. Comment!
-
2:43 PM Shares of Dynasil (DYSL +24%) soar after announcing that it's entered into a technology collaboration agreement with the Mayo Clinic to develop therapeutic hypothermia core cooling technology designed to protect the brain during cardiac arrest and traumatic brain injury. Separately, Dynasil and Mayo Clinic are also working together on a blood storage technology designed to extend the shelf life of blood products. Comment!
-
1:51 PM Cowen says Thermo Fisher's (TMO +1.6%) current valuation represents a primo buying opportunity . The firm says its risk/reward profile is even more attractive following its analyst day, citing expectations for improved earnings growth, increased market share, and management's belief shares are undervalued. 1 Comment
-
1:10 PM Biogen (BIIB +0.3%) hovers in the green on positive comments out of BMO Capital this morning. The firm believe the stock is poised to move higher due to several upcoming catalysts, including the company's R&D day on June 12 and two upcoming data releases. The firm expects the stock to make a move towards $145 over the near term. Comment!
-
12:07 PM Human Genome (HGSI -2.4%) slips on a BMO downgrade to Market Perform. THe firm believes the risk of GlaxoSmithKline (GSK) dropping its offer has increased and the likelihood of an significant price increase or a contingent value right for darapladib has been reduced. The firm lowers its price target to $13 from $17. Comment!
-
11:38 AM Following years of prodigious spending, health insurers, doctors and hospital are making efforts to halve the growth in the U.S.'s $2.7T healthcare bill to bring it more in line with inflation. One problem, though, is that the more tests and procedures doctors and hospitals do, the more money they get. 2 Comments
-
11:24 AM Onyx Pharmaceuticals (ONXX +4.7%) says that Bayer (BAYRY.PK) has submitted a New Drug Application to the FDA seeking approval for the oral multi-kinase inhibitor regorafenib for the treatment of patients with metastatic colorectal cancer. Regorafenib is a Bayer compound, and Onyx will receive a royalty on global net sales. Separately, Bernstein initiates the shares with an Outperform rating. Comment!
-
10:52 AM Over 50% of medical insurance policies sold to consumers don't match up to the requirements of the federal health law that's due to take effect in 2014, a study from the Commonwealth Fund shows. The law, which is being reviewed by the Supreme Court, will improve the terms of the policies for individuals, although it could lead to higher premiums. Comment!
-
10:52 AM InterMune (ITMN -1.4%) sells its Actimmune interferon gamma-1b business to privately held Vidara Therapeutics International for $55M in cash plus a two-year royalty stream. The company had stopped active development for Actimmune several years ago, preferring to focus its efforts on other R&D operations such as its Pirfenidone treatment for idiopathic pulmonary fibrosis. Comment!
-
10:30 AM Watson Pharmaceuticals (WPI +2.8%) gains on an upgrade to Outperform on valuation at Wells Fargo. Wells says that on deeper analysis, it has higher confidence in the company's ability to hit EPS targets following the Actavis acquisition. The firm also raises its price target range to $84 - $90 from $75 - $79. Comment!
-
10:20 AM Alere (ALR +1%) gets a lift from an upgrade to Outperform at Wedbush this morning, citing the company's progress in resolving its FDA issues around cardiology test manufacturing following yesterday's release of its 8-k. Comment!
-
9:05 AM More on Teva (TEVA) 2012 guidance: The EPS of forecast of $5.30-$5.40 is below prior guidance of $5.48-$5.68; revenue prediction of $20B-$21B is below $22B prior. Teva's Europe outlook has been affected by over $1B. If there are businesses that don't fit, "we'll be looking to divest," says CEO Jeremy Levin. 1 Comment
-
8:58 AM Teva (TEVA) provides 2012 guidance on a conference call to investors, saying it expects EPS of $5.30-$5.40 vs. consensus of $5.59. It forecasts net revenue of $20B-$21B vs. 21.27B. Breakdown: U.S. $10.5B, Europe $5.8B, ROW $4.2B, Copaxone $3.8B. Shares +1.4% premarket. (PR) 2 Comments
-
8:37 AM Rosetta Genomics (ROSG) shares continue their helium-like rise, +15.2% premarket after yesterday's +51% jump on no apparent news. Shares have climbed seven-fold since the May 16 news that Novitas, the designated Medicare Administrative Contractor for ROSG's miRview mets2 assay, plans to cover the assay for all Medicare beneficiaries. 1 Comment
-
Wednesday, May 23, 2012
-
6:39 PM VSE Corp. (VSEC) says it's been awarded a contract by the National Institutes of Health, an agency of the Department of Health and Human Services, that could be worth up to $20B over the next 10 years. Under the terms of the agreement, VSEC will provide IT integration and outsourcing support services to the agency's Information Technology Acquisition and Assessment Center. Comment!
-
5:38 PM An FDA advisory panel recommends against approval of Johnson & Johnson's (JNJ) Xarelto blood thinner to reduce life-threatening blood clots. JNJ already markets the pill to treat irregular heartbeat and patients undergoing hip or knee replacement surgery. Comment!
HEALTHCARE ETFs IN FOCUS
Latest Healthcare Articles
