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Sector Update: Healthcare Higher Pre-Market; ImmunoGen Spikes 7% on Earnings

By: MT Newswires
Posted: 10/25/2013 8:52:00 AM
Referenced Stocks: BMRN;IMGN

Healthcare stocks:

JNJ: flat

PFE: flat

ABT: flat

MRK: flat

AMGN: flat

Healthcare shares are flat in pre-market trade.

In healthcare stocks news, ImmunoGen, Inc. ( IMGN ) is up 7.3% in pre-market after it earlier reported a Q1 loss of $0.13 per share, ex one-time items, compared with the prior-year period's $0.30 loss per share. Revenues were $17.2 million, up from million in the same quarter last year.

Revenues for the quarter include $13.2 million in license and milestone fees, compared to $0.9 million in the comparable quarter a year ago. Analysts polled by Capital IQ were expecting a loss of $0.22 per share on revenues of $12.55 million.

And, BioMarin Pharmaceutical Inc. ( BMRN ) in yesterday's after-hours reported a Q3 GAAP loss of $0.38 per diluted share, compared to GAAP net loss of $0.04 per share for the comparable quarter of 2012. Analysts polled by Capital IQ estimated a GAAP and non-GAAP loss of $0.30 per share.

Revenues of $134.3 fell short of CIQ consensus for $139.8 million, but were higher than revenues of $126.3 million in the prior year period.