This Day On The Street
Continue to site
ADVERTISEMENT
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

Health Winners & Losers: Inspire

Health stocks traded heavily into negative territory along with the broader markets on a relatively quiet Friday for the sector.

The Nasdaq and Amex biotechnology indices took gave up 1.8% and 1.8%, respectively, after registering gains a day earlier.

One component of the Nasdaq index that bucked the trend, Inspire Pharmaceuticals (ISPH) surged $1.39, or 36%, to $5.24 after the company said a late-stage trial of inhalation solution Denufosol, its prospective cystic fibrosis drug, met its primary goal.

In business news, GlaxoSmithKline (GSK - Get Report) said Friday that it completed its previously announced purchase of Sirtris Pharmaceuticals through a cash and tender offer of roughly $720 million, or $22.50 a share. Glaxo's shares were off by 75 cents, or 1.7%, at $42.50.

Also GenVec (GNVC - Get Report) said it will sell some 11.25 million shares of common stock and warrants to purchase about 2.25 million more to institutional and accredited investors for proceeds of roughly $17 million. Shares were down 19 cents, or 11%, at $1.49 on higher-than-average volume.

Meanwhile, Natus Medical (BABY - Get Report) shares turned down a day after the company raised revenue guidance but reined in its full-year profit expectations in light of its acquisition of privately held Sonamed Corp. and two stock offerings earlier this year. Shares, which rose 33 cents Thursday, gave up 77 cents, or 3.6%, to $20.35 Friday.

Elsewhere, the Food and Drug Administration outlined proposals regarding the safety of contact lens solutions ahead of an advisory panel scheduled for next Tuesday, according to an Associated Press report.
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
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
BABY $41.40 0.12%
COO $164.74 0.33%
GSK $41.25 0.10%
JNJ $95.17 -1.09%
GNVC $2.51 1.21%

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs