|Healthcare Review: Repligen, Rosetta Genomics, Alnylam Pharamaceuticals, Endo International, Biostar Pharmaceuticals|
|By Staff and Wire Reports|
|Friday, 07 March 2014 02:42|
Shares of Repligen ($RGEN) take a dive in response to the company's earnings today. Shares initially plunged almost 16% in heavy volume before recovering a bit.Net income for 2013 grew 11% on a revenue increase of 9.5%.Guidance for 2014 includes revenues of $52M - $55M, 53% product gross margin, total income of $7M - $9M and year-end quick assets of $84M - $87M.Consensus estimates for 2014 are earnings of $.22/share on revenues of $53M.
Zacks Small Cap Research initiates coverage on Rosetta Genomics ($ROSG) with an Outperform rating. Analysts like the company's microRNA platform and establish a price target of $10.Shares currently exchange hands at $5.30.
China-based Biostar Pharmaceuticals ($BSPM +21.8%) signs a letter of intent with the Research Institute of Pharmaceuticals at Shaanxi University of Chinese Medicine to develop a drug for liver cancer based on Oleanolic Acid injection. Biostar's has found that the "AO" factor in Oleanic acid is "remarkably effective in killing the Hepatitis B virus, and it may also be used to kill cancer cells."
Alnylam Pharamaceuticals ($ALNY) finalizes its buy of Merck's ($MRK) Sirna Therapeutics that was previously disclosed on January 12.The total purchase price is $175M ($25M cash and $150M in ALNY common stock).The transaction represents a significant haircut for Merck considering the $1.1B cash price it paid for Sirna in 2006.
Endo International ($ENDP) treatment for adult men with hypogonadism, AVEED (testosterone undecanoate) injection, is now FDA-approved. The disease is associated with low levels or absence of the hormone testosterone. The product produces serum testosterone in the normal range by administering injections 4 weeks after the initiation of therapy and every 10 weeks thereafter. It will be commercially available this month.