Tuesday's Health Winners & Losers
Among the winners in the health sector Tuesday was Angiotech Pharmaceuticals (ANPI), shares of which rose about 12%. The Vancouver-based drug and medical-device company, which last week halted patient enrollment in a study of its Vascular Wrap for artery disease due to safety issues, said Tuesday it is exploring "alternatives for the future funding and development" of the product, including potential partnerships. The company posted an adjusted net loss from continuing operations of $3.9 million, or 5 cents a share, in the first quarter. The stock, which took a hard hit last week, climbed 34 cents, or 12.8%, to $2.99.Another win came courtesy of Hanger Orthopedic Group (HGR), shares of which climbed more than 8% on quarterly results and forward guidance. The Bethesda-based company, which distributes orthotic and prosthetic devices and operates related care centers, posted first-quarter net income of $3.6 million, or 12 cents a share, double the $1.8 million, or 6 cents a share, it posted a year ago. Hanger increased its full-year EPS guidance by a nickel to a range of 75 cents to 77 cents in light of more favorable interest rates. The stock traded up 8.7% to $11.58.
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