Mid-Day Healthcare Review: AFFY Jumps, ACAD & ACAD Slump On News, OMPI surging and AMPE slides on financing
(Thomson Reuters ONE) -
U.S. stocks rebounded strongly on Friday after falling for six consecutive
session on Thursday supported by strong earnings from JPMorgan Chase in addition
to speculation that China and Europe will boost stimulus efforts. On the other
hand, there are several healthcare stocks which are showing unusual moves on
July 13, 2012.
Affymax, Inc. (NASDAQ:AFFY) continued to move higher after rising 19% in the
prior trading session on news that Takeda Pharmaceuticals, has reached an
agreement to supply their anemia treatment Omontys to U.S. dialysis centers run
by Germany's Fresenius Medical Care. This morning analyst at Robert W. Baird
provided an outperform rating on the stock. The stock is now up 18.69% to $16.93
after creating a new 52-week high of $16.95.
Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR) extended its week long losses on
Friday and slumped another 7%. On Tuesday the stock was down 22% after a
negative report from Citron Research, which raised questions on the company's
marketing of flagship multiple sclerosis drug, Acthar. Citron said the company
had used the orphan drug status that Questor had received from regulators for
Acthar to treat infantile spasms to aggressively expand the use of the drug for
other indications. Today's fall came after the company's presentation at the JMP
Securities failed to defend the recent report.
Obagi Medical (NASDAQ:OMPI) Shares trading up over 4%, as high as $17.13 in
early trading on Friday as speculators take their usual Friday positions in
anticipation of possible "Monday Merger" news. Dow Jones put out a note earlier
stating that "OMPI shareholders seem antsy for a takeover" as the company filed
a regulatory document earlier in the week which formalized removing a key hurdle
to a potential takeover. Allergan, Inc. (NYSE:AGN) and Avon Products, Inc.
(NYSE:AVP) have been listed as possible suitors.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) slumped over 10% after disclosing it's
discontinuing development for its AM-831 schizophrenia drug after it failed to
"meet pre-determined criteria for further development in Phase I testing." AM-
831 was being developed in partnership with Japan's Meiji Seika Pharma.
Seattle Genetics, Inc. (NASDAQ:SGEN) was down 2.25% to $24.78 as CEO Clay
Siegall says it's not the right time to sell the company with its pipeline and
growth trajectory looking strong. Though it's more than a little speculative
that a major buyer would still be interested in an acquisition after shares of
SGEN ran up over 52% YTD on the potential for Adcetris, the CEO's bravado still
provides guidance on the M&A front.
Ampio Pharmaceuticals, Inc. (NASDAQ:AMPE) slid 11.20% to $3.25 after announcing
a stock offering of undisclosed size. Ampio, whose products are in the trial
stage, has been bleeding cash.
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Source: Equity Briefing via Thomson Reuters ONE
[HUG#1626783]
Datum: 13.07.2012 - 19:57 Uhr
Sprache: Deutsch
News-ID 165236
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