Healthcare Stocks Still Drifting Lower; InterMune Catches Updraft After Posting Narrower-Than-Expected Net Loss

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Healthcare stocks are slightly lower this afternoon with the NYSE Healthcare Sector Index slipping about 0.2% while shares of healthcare companies in the S&P 500 are down about 0.1% as a group.

In company news, InterMune Inc. ( ITMN ) is up more than 7% at $14.20 a share in late trade and the biotech company working to commercialize treatments for diopathic pulmonary fibrosis late yesterday posting a narrower-than-expected Q3 net loss of $0.61 per share, beating analyst estimates by $0.10.

Revenues rose 161.9% year over year to $19.72 million, exceeding Wall Street expectations by $3.21 million.

ITMN also raised the bottom of sale projections for its Esbriet lead drug by $5 million over its prior forecasts, now seeing sales in a range of $60 million to $70 million.

In other sector news,

(+) ZLTQ, Posts $0.08 per share net loss, easily beating the $0.19 per share loss analysts expected. Doubles FY13 revenue guidance to 40% year over year increase, which would be $106.7 mln, topping estimates by $14.2 mln.

(-) ARIA, Temporarily shelves its Iclusig leukemia treatment because of possible cardiac-related side effects linked to the drug.

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
Referenced Stocks: ITMN

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