This Day On The Street
Continue to site
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

Friday's Health Winners & Losers

Health indices were relatively flat ahead of the weekend -- downgrades and a regulatory investigation suppressed some stocks while business updates fluffed up others.

For a second day, shares of NPS Pharmaceuticals (NPSP) were on the decline. The company on Thursday reported disappointing results for its short bowel syndrome drug Gattex. Two analysts subsequently downgraded NPS on Friday.

Jefferies analyst Adam Walsh reduced his rating to hold from buy, and reduced his price target to $4.50 from $7. Oppenheimer analyst Jack Hu downgraded the stock to neutral from buy and reduced his price target to $6 from $12. NPS fell another 3.8% to $4.05 on Friday.

Then, a Bear Stearns analyst downgraded Momenta Pharmaceuticals (MNTA - Get Report) to underperform from peer perform. In light of a new Food and Drug Administration policy, the analyst said the launch of the company's drug candidate M-enoxaparin could be delayed until mid-2008. Momenta gave up 71 cents, or 5.4%, to $12.39.

Momenta and NPS are both components of the Nasdaq biotechnology index, which was up nearly 1% at 895.51.

Also before the weekend, Stryker (SYK - Get Report), Zimmer Holdings (ZMH - Get Report), Smith & Nephew (SNN - Get Report) and Medtronic (MDT - Get Report) said Friday that the Securities and Exchange Commission is conducting an informal inquiry into possible company violations of the Foreign Corrupt Practices Act, which outlaws bribing foreign officials to obtain or retain business.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr 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

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
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!
NPSP $45.97 0.02%
ZMH $114.61 0.00%
MNTA $17.57 0.00%
MDT $76.49 0.00%
SNN $34.12 0.00%


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs