|Healthcare Review: Herbalife Ltd, Pain Therapeutics, ISIS Pharmaceuticals, Hansen Medical, Threshold Pharmaceuticals, Peregrine|
|By Staff and Wire Reports|
|Thursday, 10 January 2013 14:45|
The Dow Jones industrial average was up 18 points at 13,408 shortly before noon Thursday. It has been up as much as 54 points in early trading. The Labor Department said unemployment applications rose 4,000 to 371,000, the most in five weeks.
Following are the notable movers at mid day on Thursday:
Herbalife Ltd. (NYSE:HLF) shares fell 1.93% to $39.18. One of Herbalife’s biggest independent distributors has left the company to sell energy drinks and he’s exhorting his 16,000 distributors to join him. Anthony Powell will distribute Verve energy-drink products for Scottsdale, Arizona-based Vemma Nutrition Co., he said in a webcast to his distributors Jan. 6. Spokesmen for Vemma and Herbalife confirmed the move. Powell didn’t respond to messages seeking comment.
Additionally, the company as reportedly hired well-known attorney David Boies, who is expected to attend the company’s next investor conference this week.
Pain Therapeutics, Inc. (NASDAQ:PTIE) shares climbed 8.95% to $2.80 in the early hour. Zacks lowered shares of PTIE from a neutral rating to an underperform rating in a report released on Jan. 2. Zacks currently has $2.60 target price on the stock. Separately, analysts at C.K. Cooper downgraded shares of Pain Therapeutics from a buy rating to a hold rating in a research note to investors on November 1.
ISIS Pharmaceuticals, Inc. (NASDAQ:ISIS) shares climbed 6.59% to $12.78. Ryan & Maniskas, LLP day before yesterday announces that a class action lawsuit has been filed in the United States District Court for United States District Court for the Southern District of California on behalf of all persons or entities that purchased the stock of Isis Pharmaceuticals, Inc. ("Isis Pharmaceuticals" or the "Company") (NASDAQ: ISIS) from March 29, 2012 through October 15, 2012, inclusive (the "Class Period").
Hansen Medical, Inc. (NASDAQ:HNSN) shares gained 5.88% to $2.34. The 52 week trading range for the company is $1.42 - $4.03. The company develops, manufactures and markets a generation of medical robotics designed for accurate positioning, manipulation and stable control of catheters and catheter-based technologies.
Peregrine Pharmaceuticals (NASDAQ:PPHM) shares gained 5.10% to $2.16 after the company, on Jan. 7, provided an update from its internal review of discrepancies from its Phase II randomized, double-blind placebo-controlled trial of bavituximab in second-line non-small cell lung cancer (NSCLC) in 121 patients. The review was prompted by the discovery of vial coding discrepancies while preparing for an end of Phase II meeting with the FDA.
Additionally, Roth Capital upgraded shares of PPHM from a neutral rating to a buy rating in a research report released on Jan. 9. Roth Capital currently has $2.70 price target on the stock.
Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) shares dropped 7.50% to $4.69. The 52 week trading range for the company is $1.27 - $9.28. The shares of the company soared 267% in the last one year. THLD is a biotechnology company focused on the discovery and development of drugs targeting the microenvironment of solid tumors and the bone marrows of some hematologic malignancies (blood cancers) as treatments for patients living with cancer.