Sector Update: Healthcares


Shutterstock photo

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. Amgen was 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 Nasdaq, Inc.

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

This article appears in: Investing Commodities
Referenced Stocks: HITK , SNTA , AMGN

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by