|Healthcare Review : Invacare, Intermune & Geron Jump while ImmunoCellular Slumps|
|By Staff and Wire Reports|
|Tuesday, 21 August 2012 13:38|
Pluristem Therapeutics Inc. (NASDAQ:PSTI) shares gained 3.50% to $4.14 after the company announced it has renewed a five-year Collaborative Research Agreement with the Berlin-Brandenburg Center for Regenerative Therapy (BCRT) at Charite - University Medicine Berlin. The original five-year Collaborative Research Agreement was signed between the parties in 2007.
Allergan, Inc. (NYSE:AGN) shares climbed 1.83% to $87.14 after Allergan Inc and Molecular Partners AG announced that they have significantly expanded their existing relationship by entering into two separate agreements to discover, develop, and commercialize therapeutic DARPin products for the treatment of serious ophthalmic diseases. Molecular Partners will receive combined upfront payments of $62.5 million under the two agreements and is eligible to receive additional success-based payments, including up to $1.4 billion in aggregate development, regulatory and sales milestones, and tiered royalties up into the low double-digits for future product sales.
Invacare Corporation (NYSE:IVC) shares climbed 7.60% to $14.59 after the shares of Invacare was upgraded by analysts at CL King from a “neutral” rating to a “buy” rating in a research report issued to clients and investors today. Analysts expect that Invacare will post $1.27 EPS for the current fiscal year.
Geron Corporation (NASDAQ:GERN) shares jumped 7.73% to $2.23. A report on the website Seeking Alpha touted the company’s cancer drugs under development. Geron has two treatments in the second of three stages of human testing generally needed for U.S. regulatory approval. Imetelstat is being tested for breast cancer and multiple myeloma, and GRN1005 is being tested for brain tumors that develop from breast and lung cancer. The company ended its stem cell research program in 2011 to cut costs.
InterMune, Inc. (NASDAQ:ITMN) stock increased 5.66% to $7.63. UBS AG decreased their EPS estimates on shares of InterMune in a research note issued last week and the firm currently has a “neutral” rating and a $8.50 price target on the company’s shares. Analysts expect that InterMune will post $-2.73 EPS for the current fiscal year.
Onyx Pharmaceuticals, Inc.(NASDAQ:ONXX) jumped 5.50% to $71.47 after analyst at Jefferies said the company is positioned for a strong Kyprolls launch . After conducting a survey, the firm says the drug's impact is deeply undervalued by the Street and may significantly surpass estimates, which it turn will benefit its share price. It reiterates a Buy rating and maintains a $101 target on the stock.
ImmunoCellular Therapeutics (AMEX:IMUC) shares slumped 19% to $2.35 after president and CEO Manish Singh resigned. The drug developer's chief scientific officer and chairman John Yu will assume the roles on an interim basis until a permanent successor is selected.