Health Care Sector Update for 03/12/2015: SCLN,AMRN,ACAD

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Health care stocks were higher today with the NYSE Health Care Sector Index adding about 1.3% and shares of health care companies in the S&P 500 also ahead about 1.3% as a group.

In company news, SciClone Pharmaceuticals ( SCLN ) shares rose to a nearly 15-year high after the specialty drugmaker posted better-than-expected Q4 results.

The company said Q4 sales were $41.4 million, more than the Cap IQ estimate for $38.93 million. .

Reported earnings during the quarter rose to $3.5 million, or $0.07 per share, from a $36,000 profit last year. Excluding one-time items, Non-GAAP EPS rose to $0.29 from $0.07 a year ago on $41.4 million in sales. Analysts, on average, were expecting adjusted EPS of just $0.16 per share on $38.93 million in revenue.

Looking forward, it sees FY15 sales of $153 million and $158 million, in line with the $155 million consenus. It also expects $0.73 and $0.77, topping estimates by at least $0.12 per share.

SCLN shares recently were up more than 9% at $8.80 apiece, backing down from an earlier run to their best level since 2000 at $9.65 a sahre. Entering today's session, the stock already had risen more than 78% over the past year.

In other sector news,

(+) AMRN, Raised to Buy from Neutral at H.C. Wainwright.

(-) ACAD, Delays FDA application for its nuplazid drug candidate until the second half of 2015, saying it needs to ensure it can handle production and distribution if the Parkinson's treatment is approved. CEO also resigns.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities
Referenced Symbols: SCLN

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