|Healthcare Review: MAKO Surgical & Chelsea Therapeutics Plunge On Negative News|
|By Staff and Wire Reports|
|Tuesday, 10 July 2012 19:51|
Keryx Biopharmaceuticals (NASDAQ:KERX) stock gained 5.94% to $2.14 +0.12 after the company announced that Ron Bentsur, the Company's Chief Executive Officer, will be presenting at the 7th Annual JMP Securities Healthcare Conference, being held July 12-13, 2012, in New York City. Mr. Bentsur's presentation is scheduled to take place on Friday, July 13, 2012 at 12:00 noon Eastern Time.
MAKO Surgical Corp. (NASDAQ:MAKO) stock plunged -43.07% to $14.01 -10.60 after the company said it expects to sell fewer RIO robotic arm orthopedic systems this year, less than forecast. The company currently expects to sell 42 to 48 Rio systems in 2012, down from its May projection of 52 to 58 for the year. The company's robotic arm is proposed to allow orthopedic surgeons to achieve greater precision.
Chelsea Therapeutics International Ltd. (NASDAQ:CHTP) shares declined to $1.11-0.13 (-10.48%) after the company announced that its Board of Directors plans to promptly implement a corporate reorganization that includes a reduction in force, executive changes and changes to the Company's Board of Directors, and has authorized a plan to explore and evaluate strategic options for the Company, all with the goal of optimizing long-term stockholder value. Last week we reported that the stock had surged, but only as the apparent result of paid promotional activities by a group of stock promoters.
Shares of Obagi Medical Products (NASDAQ:OMPI) surged to a high of $19 after the market close following an 8K filing that appears to firmly set the table for the company’s acquisition. On Monday, Cantor Fitzgerald's Irina Rivkind confirmed what others had been saying for months. The analyst said the company could be attractive to "multiple suitors." In a note to clients, she also called Obagi attractive given its "brand recognition" and reputation for efficacy. The analyst also pointed to the company's pristine balance sheet and "healthy" growth. Speculators are expecting a buy-out north of $22 per share, but heavy covering could force shares even higher.
Integra Lifesciences Holdings Corp (NASDAQ:IART) shares gained 5.03% to $38.61 +1.85 after the company said it will release its second quarter 2012 financial results on Thursday, July 26, 2012. The company has scheduled a conference call for 8:30 AM ET the same day to discuss the results. The company’s senior management team will host the conference call, which will be open to all listeners.OraSure Technologies, Inc. (NASDAQ:OSUR) stock fell to $12.34 -1.04 (-7.77%) after the company announced it has commenced an underwritten public offering of its common stock in an amount of up to $75.0 million. Citigroup and Jefferies are acting as joint book-running managers. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering.