Top Healthcare Stocks
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 (
) 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
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.