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Sector Update: Healthcare Shares Flat Pre-Market; Biodel Up on Positive Coverage

By: MT Newswires
Posted: 1/3/2014 8:57:00 AM
Referenced Stocks: BIOD;NPSP

Healthcare stocks:

JNJ: +0.30%

PFE: flat

ABT: flat

MRK: flat

AMGN: +0.51%

Healthcare shares are fairly flat in pre-market trade.

NPS Pharmaceuticals, Inc. ( NPSP ) announced that the European Commission has granted orphan drug designation to Natpara for the treatment of hypoparathyroidism.

NPSP is up 4% at $32.99, trading in a 52-week range of $7.35 to $35.72.

And, Biodel ( BIOD ) is up about 3% pre-market following a bullish SeekingAlpha article on Thursday.

Pointing to what he calls a "very promising pipeline in the works which already has big pharma taking notice and talking partnership", the writer said the stock is "extremely undervalued" and deserves a price per share 2 to 3 times the current valuation of $2.34.