Healthcare Review: Repros Therapeutics, Sangamo Biosciences, Orexigen Therapeutics, Amicus Therapeutics, Gilead Sciences Print E-mail
By Staff and Wire Reports   
Thursday, 28 March 2013 14:01
U.S. stocks edged higher on Thursday as the S&P 500 rose just above its record closing high, a level that has acted as a significant resistance point in recent weeks. U.S. stocks were set to close out a strong quarter with the S&P 500 up 9.8 percent for the first three months of 2013. The Dow was up 11.1 percent and the Nasdaq up 7.9 percent. Data showed the number of Americans filing new claims for unemployment benefits rose more than expected last week, but probably not enough to suggest a faltering in the labor market's recovery. Other data showed the economy expanded more in the fourth quarter than was prevously estimated by the government.

Following are notable movers at mid day on Thursday:

Repros Therapeutics Inc. (NASDAQ:RPRX) stock surged 77.22% to $16.18. The company, on Mar. 27, reported top-line results for the first pivotal study of Androxal, ZA-301, in the treatment of secondary hypogonadism. Results for the Intent-to-Treat population met both co-primary endpoints mandated by the FDA. The Intent-to-Treat population included all men randomized in the study whether or not they completed the study.

Sangamo Biosciences, Inc. (NASDAQ:SGMO) shares increased 5.02% to $9.73 after analysts at JMP Securities started coverage on shares of SGMO in a research report issued to clients and investors otoday. The firm set an “outperform” rating on the stock. Additionally, analysts at Wedbush raised their price target on shares of Sangamo Biosciences from $10.00 to $13.00 in a research note to investors on Thursday, March 7th. They now have an “outperform” rating on the stock.

Orexigen Therapeutics, Inc. (NASDAQ:OREX) shares gained 4.07% to $6.13. The company, on Mar. 13, posted fourth-quarter net loss of $32.5 million or $0.41 per share, wider than $4.3 million or $0.09 per share in the previous year quarter. Total revenues for the quarter were $857 thousand, flat with last year. Analysts expected the company to report a loss of $0.44 per share on revenues of $910 thousand.

Amicus Therapeutics, Inc. (NASDAQ:FOLD) shares jumped 5.50% to $3.26. The company, on Mar. 12, announced financial results for the full-year ended December 31, 2012. The Company also summarized recent and upcoming milestones and reiterated full-year 2013 operating expense guidance. The company posted full year 2012 total revenue of $18.4 million compared to $21.4 million for the full-year 2011. Full year net loss was $48.8 million, or $1.07 per share, compared to a net loss of $44.4 million, or $1.28 per share, for the full-year 2011.

Gilead Sciences, Inc. (NASDAQ:GILD) stock increased 2.83% to $49.07.  The company, on Mar. 26, said the phase 3 trial ION-1, evaluating once-daily fixed-dose combination of the nucleotide sofosbuvir and the NS5A inhibitor ledipasvir with and without ribavirin for 12 or 24 weeks among treatment-naïve genotype 1 patients with hepatitis C virus infection should continue without any modification.

Additionally, GILD‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Mar. 26. They currently have a $47.00 target price on the stock.

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