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.

"Featured Content" profiles are meant to provide awareness of these companies to investors in the small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. BiomedReports is not paid or compensated by newswires to disseminate or report news and developments about publicly traded companies, but may from time to time receive compensation for advertising, data, analytics and investor relation services from various entities and firms. Full disclosures should be read in the 'About Us Section'.

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