Sector Update: Healthcare

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Healthcare stocks were moderately higher Tuesday afternoon with the NYSE Healthcare Sector Index rising about 0.3% and shares of healthcare companies in the S&P 500 gaining around 0.6% as a group.

In company news, shares of Ironwood Pharmaceuticals ( IRWD ) rallied Tuesday after the drug-maker posted a smaller Q1 net loss than analysts were expecting following a more than threefold jump in quarterly revenue over year-ago levels, nearly doubling Wall Street projections for the period.

IRWD reported a $0.38 per share net loss during the three months ended March 31, beating the Capital IQ consensus by $0.04 per share. Revenue soars 342.4% year over year to $14.6 mln, exceeding analyst estimates by around $6.57 mln.

The company's shares were up 11.5% at $11.34 each in late trade, earlier climbing to an intra-day high of $11.98 a share. The stock has a 52-week range of $8.95 to $16.00 a share, falling 25.4% year over year.

In other sector news,

(+) LMNX, Q1 EPS of $0.24, ex items, beats by $0.14 per share. Revenue grows 6.4% over year-ago levels to $56.6 million, topping Street view by around $1.15 mln. Re-affirms in-line Q2 revenue guidance.

(-) QCOR, Q1 EPS of $1.40 lags the Capital IQ consensus Estimate by $0.21 per share. Revenue rises 68.1% year over year to $227.1 mln but still misses expectations by around $13.61 mln.



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This article appears in: Investing , Commodities

Referenced Stocks: IRWD

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