Healthcare Review: Anacor Pharmaceuticals, Keryx Biopharmaceuticals, Repros Therapeutics, Boston Scientific, Akorn Inc. Print E-mail
By Staff and Wire Reports   
Tuesday, 29 January 2013 14:02
Stocks edged higher on Wall Street, pushing the Dow toward 14,000, as investors digested the latest round of earnings and economic reports. Stocks are approaching record levels after a January rally that has pushed the Dow 6.2 percent higher this month and the S&P 500 up 5.3 percent, its highest level since December 2007.  Demand was bolstered after lawmakers reached a deal to avoid the "fiscal cliff" at the start of the year and by reports that have added to evidence showing that the U.S. housing market is recovering and the jobs market is slowly healing.

Following are the notable movers at mid day on Tuesday:

Anacor Pharmaceuticals Inc. (NASDAQ:ANAC)
slipped 17.79% to $4.25 on a traded volume of 4.13 million shares. The Company announced positive preliminary results from the first of two Phase 3 trials of tavaborole. Tavaborole is the topical anti-fungal for onychomycosis that affects approximately 35 million people in the United States. Tavaborole achieved a high degree of statistical significance on all primary and secondary endpoints. Anacor is a biopharmaceutical company focused on discovering, developing and commercializing novel small-molecule therapeutics derived from its boron chemistry platform.

Keryx Biopharmaceuticals (NASDAQ:KERX)
moved up 32.05% to $8.0. The stock is up after a successful late-stage study of its kidney-disease drug Zerenex also showed the surprise benefit of significantly reducing the use of costly anemia treatments. The results of Zerenex's Phase 3 trial showed the oral treatment not only was successful in lowering phosphate levels in patients with end-stage kidney disease but that it also reduced the use of intravenous iron by 52%.

Repros Therapeutics Inc (NASDAQ:RPRX)
augmented 5.67% to $11.74. The Company plans to provide clinical results from the first pivotal study, ZA-301of Androxal, in the treatment of secondary hypogonadism in third quarter 2013 instead of second quarter 2013. Repros Therapeutics is a United States-based company that develops products and services for the management of reproductive health. The Company's products include: contraceptives, vaccines for prostate cancer, enhanced topical treatment for genital herpes as well as treatments for male and female sexual dysfunction.
 
Boston Scientific Corporation (NYSE:BSX)
surged up 4.66% to $7.18 on a traded volume of 42.07 million shares. The Company said it expected to reduce 900 to 1,000 jobs worldwide through 2013, bringing the total headcount reduction to 2,100 to 2,400 positions from 2011 to 2013.

The Company posted fourth quarter net earnings of $60 million or 4 cents per share compared to $107 million, or 7 cents per share in the prior year period. Revenue was $1.82 billion from $1.85 billion in the prior year period.

Akorn Inc. (NASDAQ:AKRX)
declined 4.12% to $13.25 on a traded volume of 298k shares. RBC Capital started coverage on Akorn in a research report sent to investors. The firm issued a sector perform rating and a $14.00 price target on the stock.



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