Sector Update: Healthcare

By Staff,

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Healthcare stocks are lower, with the NYSE Healthcare Sector Index retreating about 0.4% and shares of healthcare companies in the S&P 500 down 0.2% as a group.

In company news, ThermoGenesis ( KOOL ) is down more than 8% at $7.51 a share after late Thursday reporting a Q4 loss of $0.14 per share, $0.10 wider than its net loss during the same quarter last year.

Revenue for the medical device manufacturer declined 8.9% year over year to $4.1 million. No analyst estimates were available for comparison.

KOOL has eight autologous cell therapies in various stages of clinical development, targeting osteoarthritis, avascular necrosis and critical limb ischemia among other medical issues. Last month, it announced plans to acquire TotipotentRX, with the combined companies to be known as Cesca Therapeutics with a focus on regenerative medicines.

In other sector news,

(-) APRI, (-1.5%) Swiss regulators recommend against allowing for sales of the company's Vitaros topical treatment for erectile dysfunction, based on certain quality related issues. APRI plans to submit an appeal within 30 days.

(-) AKRX, (1.6%) Bank of America raises price target by $3 to $21 a share while reiterating its Buy rating for the generic drug-maker, which earlier this week announced a $640-mln buyout bid for Hi-Tech Pharmacal ( HITK ).

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

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

This article appears in: Investing Commodities
Referenced Stocks: HITK , KOOL

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