Healthcare Review: Alkermes Plc, ABIOMED, Accuray Incorporated, BioScrip Inc, Abbott Laboratories Print E-mail
By Staff and Wire Reports   
Wednesday, 17 April 2013 13:15
Stocks dropped 1 percent in a broad decline on Wednesday, with materials and energy shares leading the way lower as commodity prices dropped, while a selloff in Apple shares pressured the Nasdaq. All but two of the S&P 500's 10 major sectors dropped more than 1 percent while about four-fifths of stocks traded on the New York Stock Exchange and Nasdaq were lower. The CBOE Volatility index (.VIX), a measure of investor anxiety, spiked 26 percent, though action on the VIX was also influenced by the expiration of April futures contracts. Following are notable movers at mid day on Wednesday:-

Alkermes Plc (NASDAQ:ALKS) shares increased 14.65% to $29.35. The company, on April 17, announced positive preliminary topline results from a phase 2 study of ALKS 5461, its novel drug compound for major depressive disorder (MDD) in patients who have an inadequate response to standard therapies for clinical depression. ALKS 5461 reflects a new approach to the treatment of MDD based on modulation of opioid receptors in the brain and is designed as a non-addictive, oral, once-daily medicine.

ABIOMED, Inc. (NASDAQ:ABMD) shares jumped 5.27% to $17.19. The company on April 17 reported preliminary fourth quarter fiscal 2013 revenue of $43.7 million, up 17% compared to revenue of $37.3 million in the same period of fiscal 2012, and up 14% compared to revenue of $38.3 million in third quarter fiscal 2013. Abiomed also reported preliminary full fiscal year 2013 revenue of $158.1 million, up 25% compared to $126.4 million for fiscal year 2012.

Accuray Incorporated (NASDAQ:ARAY) shares fell 3.26% to $4.45. The company, on April 4, announced that Heidelberg University Hospital, Germany, has treated the world's first patients with the new TomoEDGE(TM) Dynamic Jaws technology combined with VoLO(TM) Planning as part of its TomoTherapy® System. The new TomoEDGE Dynamic jaws technology was introduced at ASTRO 2012 as the newest evolution to the TomoTherapy System.

BioScrip Inc. (NASDAQ:BIOS) shares declined 6.65% to $12.22 in the morning hour. The company, on April 16, announced it has commenced an underwritten public offering of its common stock. Both the Company and certain selling stockholders will offer shares of the Company's common stock as part of the public offering. BioScrip will not receive any proceeds from the sale of shares of common stock by the selling stockholders.

Abbott Laboratories (NYSE:ABT) shares increased 1.90% to $37.09. The company today said its first-quarter earnings fell 56% as the year-earlier period .The company reported a profit of $544 million, or 34 cents a share, down from $1.24 billion, or 78 cents a share, a year earlier. Excluding tax adjustments, spin-off related impacts and other items, adjusted earnings from continuing operations were up at 42 cents from 40 cents.Net sales increased 1.8% to $5.38 billion. Excluding currency impacts, sales were up 3.5% . Operating margin rose to 11.4% from 9.7%.




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