Healthcare Stocks Narrowly Mixed; AcelRx Swinging Between Gains, Losses After Beating EPS Estimates

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Healthcare stocks were mixed with the NYSE Healthcare Sector Index declining 0.1% and shares of healthcare companies in the S&P 500 rising 0.2% as a group.

In company news, AcelRx Pharmaceuticals Inc. ( ACRX ) was trading higher Friday after Q1 revenue for the drugmaker nearly evaporated compared with year-ago levels although its per-share net loss managed to edge out the analyst consensus.

The company reported a net loss of $9.6 million, or $0.22 per share, during the three months ended March 31, improving on a $12.4 million net loss last year and topping the Capital IQ Consensus Estimate by $0.02 per share.

Revenue tumbled 89% from year-ago levels to just $95,000, reflecting recognition of previously deferred revenue under a collaboration agreement with Grunenthal. Analysts, on average, were looking for ACRX to generate around $70,000 in Q1 revenue.

ACRX ended the quarter with around $92.9 million in cash and equivalents, down about $10.8 million the end of the prior quarter. The company said it has enough resources on hand to fund operations through 2015 at a minimum.

Shares were up 0.3% at $9.82 each, reversing an earlier skid that dropped the stock to a session low of $9.50 a share. The stock has a 52-week range of $6.03 to $13.64 a share, gaining 59.7% over the past 12 months.

In other sector news,

(+) BIOS, (+14.4%) Revenue climbs 20.3% year over year to $239.6 mln, beating analyst projections by $17.91 mln. Net loss of $0.13 per share was $0.11 wider than Wall Street expectations. Guides FY14 revenue in-line with consensus view.

(-) JAZZ, (-6.3%) Q1 EPS of $1.61 trails analyst estimates by $0.18 per share. Revenue rises 25.8% over year-ago levels to $246.9 mln, missing Street view by $7.11 mln. Projected earnings, revenue in-line with Wall Street expectations.



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This article appears in: Investing , Commodities

Referenced Stocks: ACRX

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