This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Health Stocks in Motion

Updated from 2:31 p.m. EDT

Shares of Zonagen (ZONA) were among the worst-performing health care and pharmaceutical stocks Tuesday after the company announced that its stock would begin trading on the Nasdaq Small-Cap Market beginning July 8. Zonagen's stock had previously traded on the Nasdaq National Market.

On June 23 the Nasdaq notified Zonagen that it no longer complied with the minimum $10 million shareholders' equity requirement for listing on the Nasdaq and that it faced delisting on July 2 unless it applied for listing on the Nasdaq small-cap market. Shares of Zonagen traded down 27 cents, or 5.6%, to $4.59.

Shares of Novogen (NVGN) rose after the company announced the launch of its second human clinical trial to evaluate its investigational cardiovascular drug. The study will test humans who are at risk of cardiovascular disease, but who are otherwise healthy. The trial will look at arterial stiffness, blood pressure, plasma lipids, circulating adhesion and inflammatory molecules, insulin sensitivity and plasma cortisol. Shares of Novogen traded up 83 cents, or 4.6%, to $19.09.

NexMed (NEXM) rose after it announced a supply, license and distribution agreement with Schering AG (SHR). Schering will have exclusive commercialization rights to Alprox in Europe, Russia, the Middle East, Australia and New Zealand. NexMed will retain the intellectual property rights to Alprox and will manufacture and supply Alprox to Schering. NexMed will receive milestone payments and a share of the revenue through transfer price payments based on the supply of Alprox. Shares of NexMed traded up 4 cents, or 1.9%, to $2.19.

Shares of Genzyme (GENZ) rose after an analyst at Credit Suisse First Boston upgraded Genzyme's shares to outperform from neutral. Citing recent deals it's made, analyst Mark Augustine said that shares have 24% upside potential over the next 12 months. "We believe that Myozyme filings could occur in 2004, ahead of guidance," he said. That could serve as a key stock catalyst for the stock price, Augustine said. Shares of Genzyme traded up 32 cents, or 0.7%, to $47.

Amgen (AMGN - Get Report) fell after the same analyst who upgraded shares of Genzyme downgraded shares of Amgen to neutral from outperform, saying that Amgen lacked near-term catalysts. Augustine also said that Amgen's earnings picture appears cloudy. "Catalysts are needed, and we have a hard time finding them with Amgen. Thus, while Amgen shares may have bottomed, factors that presage the next ascent are tough to envision," he wrote. Shares of Amgen traded down $1.17, or 2.1%, to $54.03.

Health care volume movers included Pfizer (PFE - Get Report), down 7 cents to $33.87; Johnson & Johnson (JNJ), down 40 cents to $54.95; Schering-Plough (SGP), down 27 cents to $17.80; Boston Scientific (BSX), down 33 cents to $42.34; and Genentech (DNA), down 69 cents to $54.66.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs