Top Healthcare Stocks
Healthcare stocks are narrowly mixed, with the NYSE Healthcare
Sector Index falling about 0.1% while shares of healthcare
companies in the S&P 500 are rising 0.1% as a group.
In company news, Cancer Genetics (
) is up nearly 40% this afternoon at $22.70 a share, earlier
climbing to a new 52-week high of $21.25 after the early-stage
diagnostics late Thursday picked up analyst coverage at Aegis
Capital with a Buy rating and a $25 price target.
CGIX also had a morning presentation Friday at the Aegis
Healthcare Conference in Las Vegas.
In his new research note, Aegis analyst Raghuram Selvaraju cited
the broad pipeline of diagnostic tests at CGIX that are either
close to commercialization or still under development. Selvaraju
believes those tests have the potential to generate high-margin
revenue from partnerships with biopharmaceutical firms seeking
He also said CGIX could become cash flow-positive as soon as
early 2015, writing margins "are likely to improve significantly
going forward as Cancer Genetics expands sales of proprietary
In other sector news,
(+) HALO, (+8.5%) Announces commercial launch of Herceptin SC in
Europe, triggering $10 mln milestone payment from Roche (
(-) NKTR, (-21.2%) Said its NKTR-181 drug candidate did not meet
primary endpoint in Phase II testing in patients with chronic knee
pain from osteoarthritis, with only 3% of the patients achieving
meaningful pain relief.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.