Top Healthcare Stocks
Healthcare stocks are moderately higher with the NYSE Healthcare
Sector Index climbing 0.2% and shares of healthcare companies in
the S&P 500 adding 0.3% as a group.
In company news, Dendreon Corp. (
) is up nearly 11% at $2.81 a share in late trade, climbing as high
as $3.02 after Bloomber News reported the maker of the
prostate-cancer drug Provenge is seeking a buyer.
Dendreon reportedly is working with JPMorgan Chase & Co. (
) to find suitors, the news outlet reported late Friday, citing a
person familiar with the matter.
Separately today, DNDN shares were raised to Buy from Hold at
the Maxim Group, which also more than trebled its price target to
$10 a share.
In other sector news,
(+) BIIB, Q3 earnings of $2.35 per share, ex items, beats by
$0.25. Revenue rises 31.9% year over year to $1.83 bln, topping the
consensus view by $50 mln. Raises FY13 revenue, EPS guidance by
$0.40 to $8.65 to $8.85, exceeding estimates by at least $0.03.
(-) MRK, Q3 EPS of $0.92, ex items, beat by $0.04 per share.
Revenue falls 4.0% year over year to $11.03 bln, trailing estimates
by $10 mln. Issues mixed FY13 guidance.
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