Top Healthcare Stocks
Healthcare stocks were ending narrowly mixed Wednesday, with the
NYSE Healthcare Sector Index gaining 0.3% and shares of healthcare
companies in the S&P 500 giving back earlier gains to finish
with a 0.1% decline as a group.
In company news, Jazz Pharmaceuticals plc (
) shares were lower shortly before the closing bell, coming under
pressure after an analyst downgrade Wednesday that followed the
company missing analyst projections with its Q4 financial
The drug-maker earned $1.72 per share during the three months
ended Dec. 31, 2013, missing Wall Street expectations by $0.06 per
share. Revenue rose 28.4% over year-ago levels to $235.8 million,
also coming up about $1.72 million short of the Capital IQ
consensus for the period.
Following the lackluster results, analysts at Cantor Fitzgerald
reduced their investment rating for the stock to Hold from Buy.
Shares were down almost 7% at $162.94 apiece, earlier falling as
low as $157.67 a share during today's session. The stock has a
52-week range of $50.76 to $176.50 a share.
In other sector news,
(+) ANIK, FDA grants marketing approval for the company's
MonoVisc single-injection treatment for knee pain caused by
osteoarthritis. The regulatory nod triggers $5 mln milestone
payment from DePuy Synthes, which has marketed MonoVisc
internationally since 2008.
(-) AEGR, Q4 net product sales of $24.5 mln trail the Capital IQ
consensus by around $430,000. But the drug-maker also narrows its
non-GAAP net loss compared to year-ago levels, posting $0.14 per
share loss and beating Street view by $0.18 per share.