Sector Update: Healthcare Shares Flat Pre-Market; ImmunoGen up 4% on Q4 Results

By Staff,

Shutterstock photo

Healthcare stocks:

JNJ: -0.73%

PFE: flat

ABT: flat

MRK: flat

AMGN: flat

Healthcare shares were flat in pre-market trade Friday.

Biotechnology company ImmunoGen, Inc. ( IMGN ) was up 4.2% Friday after it said it had net income of $3.8 million, or $0.04 diluted share, for Q2 2014, compared to a net loss of $24.4 million, or $0.29 per diluted share, in the prior-year period.

ImmunoGen did not provide its non-GAAP earnings, which would have been comparable to the Capital IQ consensus of a loss of $(0.18). Revenues were $30.1 million, up from $2.6 million in Q2 2013.

And, SurModics ( SRDX ) reported earnings of $0.21 per share for Q4, which is in line with Street estimates, and $13.8 million in revenue, which is short of the $14.2 million consensus view.

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: IMGN , SRDX

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