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Sector Update: Healthcare

By: MT Newswires
Posted: 1/31/2014 8:52:00 AM
Referenced Stocks: IMGN;SRDX

Healthcare shares were flat in pre-market trade Friday.

Biotechnology company ImmunoGen, Inc. ( IMGN ) was up 4.2% Friday after it said it had net income of $3.8 million, or $0.04 diluted share, for Q2 2014, compared to a net loss of $24.4 million, or $0.29 per diluted share, in the prior-year period.

ImmunoGen did not provide its non-GAAP earnings, which would have been comparable to the Capital IQ consensus of a loss of $(0.18). Revenues were $30.1 million, up from $2.6 million in Q2 2013.

And, SurModics ( SRDX ) reported earnings of $0.21 per share for Q4, which is in line with Street estimates, and $13.8 million in revenue, which is short of the $14.2 million consensus view.