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
TheStreet Open House

Thursday's Health Winners & Losers

Updated from 2:52 p.m. EST with new stock prices

Biotech stocks took to both directions Thursday, but speculation and earnings weren't enough to ameliorate the midweek sag.

In collaboration news, Amicus Therapeutics (FOLD) announced a deal with Shire (SHPGY) to develop Amicus' three lead compounds for rare genetic disorders Pompe disease, Goucher's disease and Fabry disease. Shares rose 67 cents, or 4.2%, to $16.75.

Also, Biogen Idec (BIIB) shares gained $3.86, or 5.4%, to $74.99 after The Financial Times' dealReporter raised speculation about likely bidders for the biotech company, namely, Pfizer (PFE), Merck (MRK) and Johnson & Johnson (JNJ).

Elsewhere, earnings ruled (and sometimes ruined) the day.

King Pharma (KG) reported net earnings (excluding items) of $128 million, or 52 cents a share, during the third quarter, compared to net earnings of $106 million, or 44 cents a share, in a year ago. Total revenue increased 11% to $545 million, surpassing the Thomson Financial consensus target of 45 cents a share on revenue of $528.4 million.

Shares added $1.37, or 13.6%, to $11.42. King is a component of the Amex Pharmaceutical index, which was essentially flat.

Noven Pharmaceuticals (NOVN) reported a net loss of $59 million, or $2.38 a share, including the impact of the charges (namely a $100.2 million charge for the acquisition of JDS Pharmaceuticals). Excluding charges and related tax-effects, the company said net income for the current quarter would have been $7.6 million, or 30 cents a share, compared to $5 million, or 20 cents a share, a year ago. Noven reported net revenue increased 39% to $21.8 million. The Thomson Financial consensus target was 17 cents a share on revenue of $23.5 million.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 16,481.24 +81.57 0.50%
S&P 500 1,923.24 +19.23 1.01%
NASDAQ 4,368.4370 +52.3630 1.21%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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