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Healthcare Stocks Holding Small Advance; Allscripts Rises After Leerink Swan Upgrade, Product Certification

By: MT Newswires
Posted: 11/15/2013 3:53:00 PM
Referenced Stocks: MDRX

Healthcare stocks are slightly higher with the NYSE Healthcare Sector Index rising 0.2% while shares of healthcare companies in the S&P 500 also are up 0.2% as a group.

In company news, Allscripts Healthcare Solutions ( MDRX ) is up 5.5% at $14.99 a share shortly before the closing bell following an upgrade of the clinical software company to Outperform from Market Perform at Leerink Swann, which also raised its price target for the stock by $2 to $18 a share.

Separately, MDRX said its dbMotion 5.0 data-storage system has been tested and certified by the Drummond Group's electronic health records office, which is based on criteria established by the U.S. Department of Health and Human Services.

In other sector news,

(+) VNDA, FDA advisory panel votes 10-0, with one abstention, recommending approval of the company's tasimelteon drug candidate to regulate the circadian rhythms of blind people and helping them sleep.

(-) STRM, Announces plans to sell 2.5 mln shares of its common stock, with proceeds slated to finance acquisition of two complementary firms for a combined $20.25 mln. Guides Q3 revenue below Street view but issues upside FY13, FY14 revenue forecast.