|Healthcare Review: Sangamo Biosciences, Community Health, Theravance, Dendreon Corporation, VIVUS|
|By Staff and Wire Reports|
|Thursday, 17 January 2013 13:36|
The data showed the number of Americans filing new claims for unemployment benefits fell to a five-year low last week, while groundbreaking for homes rose to the fastest pace in four years last month.
Following are the notable movers at mid day on Thursday:
Sangamo Biosciences, Inc. (NASDAQ:SGMO) shares climbed 3.26% to $8.88. SGMO’s stock was upgraded by investment analysts at Piper Jaffray from an “underweight” rating to an “overweight” rating in a note issued to investors on Jan. 3. Separately, analysts at Zacks downgraded shares of Sangamo Biosciences from an “outperform” rating to a “neutral” rating in a research note to investors on December 25. They now have a $6.60 price target on the stock.
Community Health Systems (NYSE:CYH) shares climbed 3.23% to $36.73. Bank of America upgraded shares of Community Health from a neutral rating to a buy rating in a report released on Jan. 11. Bank of America currently has $45.00 target price on the stock, up from their previous target price of $35.00. Additionally, analysts at Barclays Capital raised their price target on shares of Community Health Systems from $32.00 to $36.00 in a research note to investors on January 11. They now have an equal weight rating on the stock.
Theravance Inc. (NASDAQ:THRX) stock declined 4.44% to $21.73 after the company yesterday announced its intention to offer, subject to market conditions and other factors, $250 million aggregate principal amount of convertible subordinated notes due 2023 (the "notes") in an underwritten public offering. The notes will be convertible at the option of the holders into shares of the Company's common stock at any time on or prior to the second business day preceding the maturity date.
Dendreon Corporation (NASDAQ:DNDN) shares decreased 4.06% to $6.38 after the company, prior last week, announced preliminary revenues for the fourth quarter ended December 31, 2012. Net product revenue for the quarter is expected to be approximately $85.5 million, which includes an approximate $3.8 million favorable adjustment to the Company’s chargebacks reserve due to a change in estimate. On a pro-forma basis, excluding this adjustment, revenue for the quarter is expected to be approximately $81.6 million, up 5% on a sequential basis.
VIVUS, Inc. (NASDAQ:VVUS) stock decreased 4.82% to $13.63. The company, on Jan. 7, said prescriptions for obesity drug Qsymia, its main product, rose nearly 68% in the month ended December 21 compared with the preceding four weeks, well above industry forecasts. The drugmaker said it shipped 12,978 prescriptions of Qsymia in the latest period, up from 7,749 in the four weeks ended November 23. New Qsymia prescriptions totaled 5,229 in the latest period.