Healthcare Review: Cadence, XOMA Corporation & Rosetta Genomics Jump, Patterson Falls Print E-mail
By Staff and Wire Reports   
Thursday, 23 August 2012 13:13
U.S. stocks retreated as investors debated potential central-bank moves around the globe and with some strategists saying a pullback is in order given the extended climb. Several healthcare stocks are making notable news at mid day on Thursday:

Cadence Pharmaceuticals, Inc. (NASDAQ:CADX) shares climbed 6.53% to $4.24. Cadence Pharmaceuticals stock had its “outperform” rating reaffirmed by research analysts at Leerink Swann in a report released last week. The company is a biopharmaceutical company focused on in-licensing, developing and commercializing product candidates for use in the hospital setting.

XOMA Corporation (NASDAQ:XOMA)
stock declined 5.30% to $3.04 after the company announced that its IL-1 beta modulating antibody, gevokizumab, has been granted Orphan Drug Designation by the U.S. Food & Drug Administration or FDA for the treatment of non-infectious intermediate, posterior, or pan-uveitis, or chronic non-infectious anterior uveitis. The FDA Office of Orphan Products Development or OOPD mission is to advance the evaluation and development of products that demonstrate promise for the diagnosis and/or treatment of rare diseases or conditions.

OXiGENE, Inc. (NASDAQ:OXGN)
stock increased 1.92% to $0.530 after the company announced that the company has amended the Limited Distribution Agreement, established in December 2011, with Azanta Danmark A/S to include additional territories. The territory originally included the European Union, including the Nordic countries and Switzerland, and Canada. The expanded territories now include Israel and South Korea.

Patterson Companies, Inc. (NASDAQ:PDCO) shares fell 4.79% to $34.19 after the company reported first quarter net income of $47.53 million from $48.61 million in the same quarter last year. Earnings per share for the quarter were $0.45 per share up, from $0.42 per share last year. Analysts expected the company to report $0.49 per share for the quarter. Net sales rose to $889.2 million from $847.4 million last year.

Looking forward, the company announced that it remains on track toward achieving previously issued financial guidance of $2.10 to $2.16 per diluted share in fiscal 2013.

Johnson & Johnson (NYSE:JNJ)
shares fell 0.15% to $67.85. Reuters reported that the U.S. health regulator said certain lots of bone putty made by Johnson & Johnson's unit Synthes were recalled as there was potential for the putty to catch fire if it came in contact with electrosurgical cautery systems during surgery. The Hemostatic Bone Putty is used to stop bone bleeding by creating a physical barrier along the edges of bones damaged by trauma or cut during a surgical procedure.

Rosetta Genomics Ltd. (USA) (NASDAQ:ROSG)
stock soared 28.10% to $6.06 after Aegis initiated coverage on shares of ROSG and the firm issued a buy rating and a $16.00 price target on the stock.




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