Top Healthcare Stocks
Healthcare stocks were ending lower with the NYSE Healthcare
Sector Index falling about 0.1% while shares of healthcare
companies in the S&P 500 were down about 0.5% as a group.
In company news, Castlight Health (
) more than doubled in value during its first day of public
trading, rising as much as 162% before easing slightly near the
The maker of an online application allowing companies to provide
employees with personalized shopping tools for healthcare benefits
earlier priced its initial public offering of 11.1 million common
shares at $16 each. Underwriters also received 30-day options to
buy up to nearly 1.7 million shares to cover possible
CSLT has yet to turn a profit and generated just $13 million in
revenue during 2013, but investors obviously were attracted to the
company and its $108.7 million backlog of signed agreements still
waiting to be billed - with around $51 million of that business
CSLT shares were up 137.5% at $38.00 each in recent trade,
earlier climbing to a first-day high of $41.95. Over 9 million
shares have exchanged hands during today's session.
In other sector news,
(+) ANAC, Reverses $0.36 year-ago net loss with Q4 profit of
$3.01 per share, topping Capital IQ consensus by $1.14 per share.
Revenue increases 257% over year-ago levels to $8.5 mln, topping
the single analyst estimate by $5.0 mln.
(-) RPTP, Q4 net loss of $0.19 per share is $0.01 wider than
Capital IQ consensus. Forecasts Procysbi sales of $55 mln to $65
mln during FY14; Street is expecting total annual sales of $68.84
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