|Healthcare Review: Alkermes Plc, Merck & Co, Omnicell, EDAP TMS, Medivation|
|By Mary Davila|
|Friday, 01 February 2013 13:59|
Data on Thursday showed investors poured $12.7 billion into U.S.-based stock mutual funds and exchange-traded funds in the latest week, concluding the strongest four-week flows into stock funds since 1996.
Following are notable movers at mid day on Friday:
Shares of Alkermes Plc. (NASDAQ:ALKS) slipped 5% after pricing its 7.75M share secondary offering at $22.13, a 6.5% discount to yesterday's close. Jefferies acted as sole book running manager for the offering. Separately, BAML cuts the shares Neutral, but raises its price target from $23.00 to $24.00.
Merck & Co., Inc. (NYSE:MRK) slips today after its Q4 fails to impress amid a decline in net sales. The company blames the earnings drop on patent expiry for its asthma drug Singulair, adding that the loss of its patent in the U.S. and Europe will be 2013's biggest revenue challenge. The company also announced a potential year-long delay in seeking regulatory approval for its new osteoporosis drug odanacatib, citing the need for additional safety and efficacy data from an ongoing clinical trial.
Shares of Omnicell, Inc. (NASDAQ:OMCL) jumps 10% higher today after a reporting record high Q4, with revenue coming in better than analysts expected. Total sales jumped 43% Y/Y, as the provider of inventory management systems for hospitals and other health-care facilities also posted a solid $155M backlog of business, up 16% from a year earlier.
EDAP TMS S.A. (ADR) (NASDAQ:EDAP) gets a pop after submitting its Pre-Market Approval Application to the FDA for Ablatherm-HIFU, a high intensity ultrasound for the treatment of low risk, localized prostate cancer. Included in EDAP's submission is positive data from its Phase 3 clinical trials and encouraging statistics from its worldwide database of treatment information and follow-up data from patients who have already undergone the therapy.
Medivation, Inc. (NASDAQ:MDVN) moves up today after its Japanese alliance partner Astellas Pharma reported in its financial results last night that it expects Xtandi sales to exceed year-end net sales targets ending on March 31. MDVN is due to report at the end of February. Separately, Jefferies raises its price target on the shares from $62 to $64. Shares of MDVN are up 4%.