|Healthcare Review: Geron Corporation, Oncolytics, Repros Jump, Cadence Pharmaceuticals Slump|
|By Staff and Wire Reports|
|Thursday, 30 August 2012 18:42|
By midday, the Dow Jones industrial average was down 101 points to 13,007. The Standard & Poor's 500 fell 11 to 1,499. The Nasdaq composite slipped 32 to 3,048. Several healthcare stocks are making notable news at mid day on Thursday:
Geron Corporation (NASDAQ:GERN) shares climbed 10.26% to $2.66 in the morning hour after Analysts at Stifel Nicolaus initiated coverage on shares of Geron in a research report issued to clients and investors today. The firm set a “buy” rating and a $4.00 price target on the stock. Additionally, analysts predict that Geron will post $-0.58 earnings per share for the current fiscal year.
Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY) stock jumped 8.33% to $2.86 after Equities research analysts at Stifel Nicolaus started coverage on shares of Oncolytics Biotech in a research note issued to investors today and the firm set a “buy” rating and a $6.00 price target on the stock. The company is a development-stage company. The Company have focused the research and development efforts on the development of REOLYSIN, the cancer therapeutic.
Repros Therapeutics Inc. (NASDAQ:RPRX) stock increased 5.79% to $12.05. The company announced the FDA has provided guidance for a Phase 2 study of low dose oral Proellex^® in the treatment of endometriosis. Additionally, the company plans to submit the revised protocol to the FDA as soon as practicable. Once received, the FDA agreed to review the design within 30 days, at which time, if the protocol is acceptable, Repros could commence the Phase 2 trial in the fourth quarter of this year. The Company intends to enroll up to 90 women into the study (30 per arm).
Cadence Pharmaceuticals, Inc. (NASDAQ:CADX) shares plunged 13.46% to $3.83 in the early hour after Leerink Swann cut shares of Cadence Pharmaceuticals from an outperform rating to a market perform rating in a research note issued to investors today.
Additionally, the company announced that the company's President and CEO Ted Schroeder will present the company's corporate overview on Wednesday, September 5, 2012 at 2:40pm Eastern Time (11:40am Pacific Time) during the Stifel Nicolaus Healthcare Conference at the Four Seasons Hotel in Boston.
Johnson & Johnson (NYSE:JNJ) shares declined 0.62% to $66.95 after Janssen Biotech, Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson, announced that it has executed a global license and development agreement with the Danish company Genmab A/S for the anti-cancer compound, daratumumab. Under terms of the agreement, Genmab will grant Janssen an exclusive worldwide license to develop and commercialize daratumumab as well as a back-up CD38 human antibody.