Tuesday's Health Winners & Losers

Stock quotes in this article: ASTM , EXEL , RPRX , LLY , ALKS , AMLN , ENZ , FRX , DNA  

Earnings, a Food and Drug Administration warning and clinical updates blotted the biotech sector Tuesday, but health indices lay flat.

Genentech(DNA Quote) reported late Monday third-quarter earnings of 73 cents a share, or $778 million, before items, compared to 59 cents a share, or $637 million, in 2006.

Analysts surveyed by Thomson financial were looking for 72 cents a share on revenue of $2.93 billion. Genentech reported revenue of $2.91 billion before items (and including $3 million associated with the acquisition of Tanox), a 22% increase over operating revenue of $2.38 billion in the third quarter of 2006. Shares were down $2.39, or 3.1%, at $ 75.11 on Tuesday.

Forest Laboratories(FRX Quote) on Tuesday reported earnings that were affected by a $70 million licensing charge (equating to 15 cents a share net of tax) to Microbia for the right to co-develop and co-market constipation treatment linaclotide. The company reported earning 71 cents a share for the second quarter of fiscal 2008. Analysts surveyed by Thomson Financial had expected 74 cents a share.

Forest Labs shares fell 4.8% to $38.46. The stock is a component of the Amex Pharmaceutical index, which was down 3.70, or 1.1%, to 347.85.

Up on earnings, biotechnology company Enzo Biochem(ENZ Quote) reported that its fiscal fourth-quarter (ended July 31) loss narrowed due to a rise in sales at its clinical lab segment and new product revenue from its acquisition of Axxora Life Sciences. The company reported a loss of $3.3 million, or 9 cents a share, compared to a loss of $4.5 million, or 14 cents a share, in the year-ago quarter. Analysts surveyed by Thomson Financial expected a loss of 12 cents a share on revenue of $16.3 million. Enzo said its revenue rose 81% to $17.9 million from $9.9 million in 2006. Shares climbed 13.4% to $13.14.

  • Loading Comments...
  •  
< Previous
1 2

SHARE:

  • email
  • print
  • comment
  • digg
  • delicious
  • linkedin

Recent Comments





Connect with TheStreet

Dow Jones S&P 500 NASDAQ 10-Year Note
10,309.92 1,091.49 2,138.44 32.31
Oil *
77.12
DOWN
154.48
DOWN
19.14
DOWN
37.61
DOWN
0.48
10 Yr
3.23%
SPDR Gold
115.06
-1.48%
-1.72%
-1.73%
-1.46%
Data delayed 20 minutes

Brokerage Partners

TheStreet Premium Services

All Services