Sector Update: Healthcare Stocks Flat to Higher Pre-Market; ONCOGenex Pharmaceuticals Down 48% on Synergy Phase 3 Results


Top Healthcare stocks:

JNJ: +0.29%

PFE: +2.11%

ABT: flat

MRK: +0.72%

AMGN: flat

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

In healthcare stocks news, OncoGenex Pharmaceuticals, Inc. ( OGXI ) shares plunged more than 48% pre-market after the company said results from its Phase 3 SYNERGY trial to add custirsen to standard first-line treatment of docetaxel/prednisone in men with metastatic prostate cancer failed to meet primary endpoints.

The stock which was halted from trading ahead of the news, recently changed hands at $5.00, off an earlier low of $4.25. The shares haven't been at this level in regular trading since 2009.

And, Haemonetics Corporation ( HAE ) reported financial results for Q4, or the quarter ended March 29, 2014, that fell short of analysts' expectations, and provided guidance for fiscal 2015 and 2016.

The healthcare company engaged in providing blood management solutions reported Q4 net income of $10.2 million or $0.19 per share, compared with $12.56 million or $0.24 per share in the prior-year period.

Finally, Techne Corporation ( TECH ) reported financial results for Q3, or the quarter ended March 31, 2014, that topped analysts' expectations, and declared a quarterly dividend.

The developer and manufacturer of biotechnology products and hematology calibrators and controls reported Q1 $31.6 million or $0.85 per diluted share, compared with $33.12 million or $0.90 per share in the prior-year period.

Adjusted earnings for the quarter were $34.7 million or $0.94 per diluted share, compared with $32.46 million or $0.88 per share in the same period the prior year. The Capital IQ analyst estimate is for $0.89 EPS.

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.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: OGXI , HAE , TECH

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