Sector Update: Healthcare Shares Mixed Pre-Market; Synta Jumps 4% on Q4 Results

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Top Healthcare stocks:

JNJ: +0.15%

PFE: +0.03%

ABT: flat

MRK: +0.17%

AMGN: flat

Healthcare shares were flat to higher in pre-market trade Tuesday.

In healthcare stocks news, Hi-Tech Pharmacal ( HITK ), a maker of prescription and over-the-counter drugs, reported a 41% rise in fiscal Q3 net profit, with its adjusted earnings topping Street expectations even as revenue missed.

Adjusted net income rose to $10.6 million, or $0.75 per share, from $8.5 million, or $0.62 per share, a year earlier. The mean estimate of two analysts polled by Capital IQ was $0.66 per share.

And, shares in Synta Pharmaceuticals ( SNTA ) was up 3.8% at $5.25 in pre-market trade Tuesday even after the biopharmaceutical company reported its Q4 net loss widened.

The company reported a Q4 net loss of $24.2 million, or $0.31 per basic and diluted share, compared to a net loss of $18.1 million, or $0.29 a share for the same period in 2012. It had no revenue in the three-month period in 2013, or 2012.

Finally, biotechnology firm Amgen ( AMGN ) said Tuesday that the Phase 3 trial evaluating NEXAVAR tablets as adjuvant treatment for liver cancer didn't meet the primary endpoint. Testing was aimed at improving recurrence-free survival. The shares were up 0.06% at $125.47.



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: HITK , SNTA , AMGN

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