|Healthcare Review: SIGA Technologies, Merge Healthcare, Gentiva Health, Hansen Medical, Cadence Pharmaceuticals|
|By Staff and Wire Reports|
|Wednesday, 02 January 2013 13:17|
Congress passed a bill to raise taxes on wealthy individuals and families, and preserve certain benefits, while averting immediate austerity measures. The combination of mandatory tax hikes and reduced federal spending, which had been set to go into effect on January 1, had been known as the "fiscal cliff." Following are the notable movers at mid day on Wednesday:
SIGA Technologies, Inc. (NASDAQ:SIGA) stock gained 9.16% to $2.86. SIGA Technologies had its price target raised by RBC Capital from $3.50 to $4.00 in a research note released on Dec. 21. They currently have a sector perform rating on the stock.
The company last released its earnings data on November 5. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by $0.17. The company had revenue of $2.30 million for the quarter, compared to the consensus estimate of $3.60 million.
Merge Healthcare Inc. (NASDAQ:MRGE) stock climbed 6.08% to $2.62. The company last month announced that Merge Hemo(TM) has been named the "Category Leader" in the "2012 Best in KLAS Awards: Software & Services" report for Cardiology Hemodynamics rankings for the second consecutive year. Currently running in over 500 cardiac cath labs in some of the country's largest health systems, Merge Hemo captures real-time data and documents procedural events to enable efficient workflow.
Gentiva Health Services, Inc. (NASDAQ:GTIV) shares jumped 6.07% to $10.66 in the early hour. The company announced that it will present at the 31(st) Annual J.P. Morgan Healthcare Conference in San Francisco, California at 9:30 a.m. PT on Thursday, January 10, 2013. Gentiva executives will discuss the Company's operations and strategic priorities.
Hansen Medical, Inc. (NASDAQ:HNSN) shares increased 5.34% to $2.19. The company, on Dec. 27, announced that President and CEO Bruce Barclay is scheduled to present at the 31st Annual J.P. Morgan Healthcare Conference. The conference is being held January 7-10, 2013 at the Westin St. Francis Hotel in San Francisco, California. Hansen Medical is scheduled to present on Thursday, January 10, 2013 at 11:30 a.m. Pacific Time.
Cadence Pharmaceuticals, Inc. (NASDAQ:CADX) stock climbed 5.64% to $5.09. The company, on Dec. 12, announced that it has entered into an agreement to terminate its exclusive option to acquire privately-held Incline Therapeutics, Inc., or Incline. Under the waiver, consent and option termination agreement signed by Cadence and Incline, upon the closing of the proposed acquisition of Incline by The Medicines Company, Cadence would receive a payment of approximately $13 million to buy-out Cadence's interest in, and terminate Cadence's rights with respect to, the option agreement.
Abbott Laboratories (NYSE:ABT) stock plunged 51.28% to $31.91 after the company said Wednesday that it has completed the spin off of its research-based pharmaceuticals business into an independent company. The new biopharmaceutical company, named AbbVie, will begin trading independently on the New York Stock Exchange today under the symbol "ABBV".