Healthcare stocks were mixed in mid-day trading, with the NYSE
Healthcare Sector Index climbing about 0.1% and shares of
healthcare companies in the S&P 500 falling less than 0.1% as a
In company news, Team Health Holdings (
) shares were up more than 3% Tuesday after analysts at UBS began
coverage of the healthcare staffing company with a Buy rating and a
price target of $54 a share.
THM is a likely beneficiary of healthcare reform, according to
analysts A.J. Rice, Brandon Fazio and Jailendra Singh. The company
also has not reported a decline in same-contract revenue growth in
its history, they added, explaining the non-discretionary nature of
its emergency medical services - accounting for nearly
three-quarters of its total revenue - effectively insulates the
business from volume and price pressures seen at other firms in
Shares were up 3.2% at $46.47 apiece in recent trade, earlier
climbing as high as $47.18 a share. The stock has a 52-week range
of $33.89 to $48.83 a share.
In other sector news,
(+) LJPC, (+63.9%) Announces positive, top-line results from
Phase II testing of its GCS-100 in patients with chronic kidney
disease, with a 1.5 milligram per square meter dose resulting in
statistically significant improvement in kidney function.
(+) TKMR, (+2.5%) Reverses initial declines that followed the
company disclosing plans to raise around $60 mln in new equity
funding from the sale of its common stock. Net proceeds will be
used to advance product candidates as well as for general corporate
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