Healthcare Stocks Nudging Back into the Green; Emergent BioSciences Declines After Q1 Miss, Weak Q2 Outlook


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Healthcare stocks were higher with the NYSE Healthcare Sector Index rising 0.1% and shares of healthcare companies in the S&P 500 rising 0.4% as a group.

In company news, Emergent BioSolutions ( EBS ) shares fell as much as 13% Friday after the specialty drug-maker reported a quarterly net loss and revenue missing analyst expectations and also forecasting results for the current reporting period trailing estimates.

EBS reported a Q1 net loss of $0.55 per share, or $0.21 wider than the Capital IQ consensus. Revenue rose 25.1% year over year to $53.9 million, lagging the Street view by $2.6 million.

For the current quarter ending in June, the company is projecting revenue in a range of $95 million to $110 million, trailing estimates by at least $9.55 million. It also reaffirmed its FY14 guidance, expecting revenue in a range of $415 million to $445 million, bracketing the consensus view looking for $439.00 million in revenue this year.

EBS shares were down nearly 10% at $22.61 each, earlier dropping to an intra-day low of $21.75 a share. The stock has a 52-week range of $13.89 to $28.48 a share, gaining 59.2% over the past 12 months.

In other sector news,

(+) BIOS, 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, 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.

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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