Healthcare Stocks Mixed; Rosetta Genomic Jumps For Second Day After Bullish Coverage


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Healthcare stocks were mixed today in late Monday trading with the NYSE Healthcare Sector Index slipping 0.2% and shares of healthcare companies in the S&P 500 rising 0.4% as a group.

In company news, Rosetta Genomic ( ROSG ) continued its meteoric rise again on Monday, advancing another 20% to a 17-month high of $6.48 a share following a bullish Seeking Alpha article last Friday.

According to Seeking Alpha biotech analyst Grant Zeng, Rosetta Genomics could reach $125 million in revenue by 2020, a 4,300% increase from projected 2014 revenue. In addition, at $6.30, the stock is undervalued by as much as 67%, he concludes.

Rosetta Genomics develops microRNA-based diagnostics focused on molecular testing of cancer and other diseases. It currently markets four cancer tests including a test for lung and kidney cancer.

The stock last traded at $6.24 with a new 52-week range of $2.35 to $6.48 a share.

In other sector news,

(+) RGDO, U.S. Food and Drug Administration designates the company's REG1 anticoagulant therapy with fast-track development status for use in patients with coronary artery disease during percutaneous coronary interventions.

(-) BONE, Closes on $4 mln in additional funding from OrbiMed, issuing 1.5 mln of its shares to the privately held medical device and diagnostics company. Other terms are unchanged from the companies' $20 mln term loan in August 2012.

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

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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