|Healthcare Rebiew: ISIS Pharmaceuticals, StemCells, St. Jude Medical, Dyax Corp, InterMune Are Notable Movers|
|By Staff and Wire Reports|
|Wednesday, 17 October 2012 12:46|
Both Intel Corp and IBM tumbled a day after they reported results, keeping the Dow in negative territory as IBM alone contributed a 66-point drag to the blue chip average. Home-builder shares rallied after the Commerce Department reported construction on new houses jumped 15% to an 872,000 annual rate in September, the biggest number since July 2008 and easily topping Wall Street’s expectations.
Following are the notable movers at mid day on Wednesday:-
ISIS Pharmaceuticals, Inc.(NASDAQ:ISIS) shares declined 6.13% to $9.66 in the morning hour after U.S. regulators raised concerns about abnormal growths, some harmful, linked to the company’s drug for a rare genetic disease.
Additionally, ISIS stock was downgraded by investment analysts at Summer Street from a “buy” rating to a “neutral” rating in a note issued to investors today.
StemCells, Inc.(NASDAQ:STEM) shares increased 3.33% to $2.48 after the company announced the launch of four new SC Proven human neural stem cell (NSC) kits for use in neuroscience research. Each kit will contain high purity, multipotent NSCs derived from a different area of the human central nervous system (CNS), and will provide researchers with a reproducible and scalable serum-free platform with which to perform a broad range of assays.
Additionally, Ascendiant Capital Markets assumed coverage on shares of STEM in a report released yesterday. The firm issued a buy rating on the stock.
St. Jude Medical, Inc.(NYSE:STJ) stock decreased 5.82% to $40.44 after the company reported third-quarter net earnings of $176 million, or $0.56 per share, from $227 million, or $0.69 per share in the year ago quarter. Adjusted net earnings for the quarter were $261 million, or $0.83 per share. Net sales were $1.326 billion in the third quarter of 2012, a decrease of 4%, as compared with the $1.383 billion in the year ago period. Analysts expected the company to report earnings of $0.81 per share on revenue estimate of $1.34 billion for the quarter.
InterMune, Inc.(NASDAQ:ITMN) shares increased 7.28% to $8.55. The company, this month, announced that Health Canada has approved Esbriet for the treatment of mild to moderate idiopathic pulmonary fibrosis in adult patients. IPF is a progressive and uniformly fatal disease that affects approximately 5,000 to 8,000 Canadians, is characterized by scarring of lung tissue, and has a similar short life expectancy to that of many forms of cancer, including lung, colorectal and breast cancers.
Dyax Corp.(NASDAQ:DYAX) stock gained 6% to $3.18. The company will host a webcast and conference call, including an open question and answer session, Wednesday, October 24, 2012. During the call, management will discuss the Company's financial results for the third quarter ending September 30, 2012 and progress regarding its key value drivers - the KALBITOR® (ecallantide) business and angioedema franchise, as well as the Licensing and Funded Research Program (LFRP).