Sector Update: Healthcare Shares Lower; Progenix Narrows Q2 Net Loss

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Healthcare stocks:

JNJ: -0.15%

PFE: -0.24%

ABT: flat

MRK: -0.04%

AMGN: -1.09%

Healthcare shares are lower in pre-market trade. RadNet ( RDNT ) reported Q2 2013 net income of $2.7 million, or $0.07 per diluted share, compared to a net income of $2.9 million, or $0.07 per diluted share, in the same period last year.

Net service fee revenue totaled $176.5 million versus $165.4 million in the prior-year period. No analyst estimates were available for comparison. For 2013, RadNet reaffirmed its revenue guidance of $700 million - $730 million. RDNT is flat at $3.16 in pre-market.

And, Horizon Pharma ( HZNP ) reports net sales for Q2 2013 were $17.6 million and $12.3 million, respectively, increases of 64% and 34%, respectively, versus Q1 2013. HZNP is flat at $2.42 pre-bell.

Non-GAAP net loss for Q2 2013, was $15.0 million, or $0.24 per share, compared to a non-GAAP net loss of $20.6 million, or $0.62 per share, for Q2 2012. Analysts expected a loss of $0.32 per share on 16.09 million in revenue.

Finally, Progenix Pharmaceuticals ( PGNX ) reported a Q2 net loss of $12.3 million, or $0.24 diluted per share, compared to net loss of $10.7 million, or $0.32 last year, and bang in line with expectations.

Q2 revenue totaled $1.8 million, unchanged from the 2012 period and just shy of forecasts for $1.86 million. The shares closed down 8% on Thursday at $5.27, but remain in the upper band of the 52-week range of $1.41 - $6.47.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: HZNP , PGNX , RDNT

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