Healthcare Stocks Trailing Broader Markets; Ironwood Pharma Climbing in Late Trade After Beating Q1 Estimates


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Healthcare stocks were moderately higher Tuesday afternoon with the NYSE Healthcare Sector Index rising about 0.3% and shares of healthcare companies in the S&P 500 gaining around 0.6% as a group.

In company news, shares of Ironwood Pharmaceuticals ( IRWD ) rallied Tuesday after the drug-maker posted a smaller Q1 net loss than analysts were expecting following a more than threefold jump in quarterly revenue over year-ago levels, nearly doubling Wall Street projections for the period.

IRWD reported a $0.38 per share net loss during the three months ended March 31, beating the Capital IQ consensus by $0.04 per share. Revenue soars 342.4% year over year to $14.6 mln, exceeding analyst estimates by around $6.57 mln.

The company's shares were up 11.5% at $11.34 each in late trade, earlier climbing to an intra-day high of $11.98 a share. The stock has a 52-week range of $8.95 to $16.00 a share, falling 25.4% year over year.

In other sector news,

(+) LMNX, Q1 EPS of $0.24, ex items, beats by $0.14 per share. Revenue grows 6.4% over year-ago levels to $56.6 million, topping Street view by around $1.15 mln. Re-affirms in-line Q2 revenue guidance.

(-) QCOR, Q1 EPS of $1.40 lags the Capital IQ consensus Estimate by $0.21 per share. Revenue rises 68.1% year over year to $227.1 mln but still misses expectations by around $13.61 mln.

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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