Wednesday's Health Winners & Losers
PDL BioPharma (PDLI) was rising after First Albany upgraded the biotech company to neutral from underperform. PDL was recently adding 60 cents, or 3.3%, at $19.04.
On the other hand, CV Therapeutics (CVTX) slumped more than 25% after the company's angina drug Ranexa was found to be ineffective in a study when used to treat acute coronary syndrome. Shares were recently losing $3.12 to $9.18.
Progenics Pharmaceuticals (PGNX) dropped after saying late Tuesday it will partner with Wyeth (WYE) to reformulate its methylnaltrexone drug for a proposed treatment for side effects of opioid analgesics. However, the companies do not expect to file a new drug application with the Food and Drug Administration until the end of 2009. Progenics was down $3.33, or 12.4%, to $23.43.Among other health care winners, Tercica (TRCA) was surging 23% to $6. Elan (ELN) was higher by 2.2% at $13.03. Pfizer (PFE) was gaining 1% to $25.43. Among decliners, Affymetrix (AFFX) was losing 2.6% at $25.98. Biogen Idec (BIIB) was lower by 1.3% to $43.60. MedImmune (MEDI) slipped 1% to $30.94.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV