Healthcare Review: Acorda Therapeutics Inc, Utah Medical Products, Cytori Therapeutics, Cadence Pharmaceuticals, Johnson & Johnson Print E-mail
By Staff and Wire Reports   
Tuesday, 16 April 2013 13:52
Strong housing and earnings reports helped stocks rebound from their worst day of the year. Home construction topped 1 million last month, the highest level since June 2008. Robust earnings from companies including Coca-Cola also propelled the market higher. A recovery in housing and a pickup in hiring were major catalysts driving the stock market's surge early this year. The Dow and the Standard & Poor's 500 jumped 11.3 percent and 10.3 percent, respectively, in the first three months of 2013.

Following are notable movers at mid day on Tuesday:

Acorda Therapeutics Inc. (NASDAQ:ACOR) stock jumped 9.53% to $38.88. The company, on April 15, announced that a proof-of-concept trial found dalfampridine extended release (ER) tablets, marketed as AMPYRA® (dalfampridine) Extended Release Tablets, 10 mg, improved walking in people with post-stroke deficits. Post-stroke deficits refer to chronic neurological deficits, such as impaired walking, motor and sensory function and manual dexterity that persist in people who have had a stroke.

Utah Medical Products, Inc. (NASDAQ:UTMD) stock fell 0.87% to $42.26. The 52 week trading range for the company is $29.66 - $49.85. The company  is in the business of producing medical devices that are, disposable and for hospital use. The Company markets a range of medical devices used in critical care areas, especially the neonatal intensive care unit (NICU), the labor and delivery (L&D) department and the women's health center in hospitals, as well as products sold to outpatient clinics and physician's offices.

Cytori Therapeutics Inc. (USA) (NASDAQ:CYTX) stock jumped 7.66% to $2.53. Zacks upgraded shares of Cytori Therapeutics (NASDAQ: CYTX) from a neutral rating to an outperform rating in a research report released on April 11. Zacks currently has $3.00 price target on the stock.

Additionally, the company on Mar. 28, received US Patent No. 8,404,229 (the '229 patent) for methods of treating renal diseases using adipose-derived regenerative cells (ADRCs). The '229 patent covers treatment of a broad range of renal disorders, including acute kidney disease (AKD) and chronic kidney disease (CKD).

Cadence Pharmaceuticals, Inc. (NASDAQ:CADX) shares increased 6.61% to $6.94 in the early hour. JMP Securities initiated coverage on shares of Cadence Pharmaceuticals in a research report sent to investors on April 1. The firm issued an outperform rating and a $8.00 price target on the stock. Additionally, analysts at DA Davidson downgraded shares of Cadence Pharmaceuticals from a buy rating to a neutral rating in a research note to investors on March 12.

Johnson & Johnson (NYSE:JNJ) shares increased 1.80% to $83.18. The company today said it beat Wall Street's quarterly profit estimates on sharply lower taxes, strong sales of prescription drugs and a revival of over-the-counter medicines that had been recalled over quality control problems.




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