Health Winners and Losers: Celgene

Health stocks were mixed Monday as traders received a few earnings reports but didn't see a repeat of last week's merger frenzy.

The Nasdaq Biotechnology index was down 0.3%, while its Amex counterpart was adding 0.5%.

As for the big biotech stocks, Celgene(CELG Quote) and Cephalon(CEPH Quote) were down 2.4% and 3.4%, respectively.

Gilead(GILD Quote), which last week bid for CV Therapeutics(CVTX Quote), was losing 3.9%. Having been outdone by Gilead, Astellas withdrew its offer for CV Therapeutics on Monday.

Of the higher-volume movers on the Amex Biotech index, Amylin Pharmaceuticals(AMLN Quote) was up 50 cents, or 4.5%, to $11.70.

Among the earnings releases, Cypress Bioscience(CYPB Quote) swung to a second-quarter loss of $7.2 million, or 19 cents a share, as revenue fell and costs increased. Shares were down 5.8%, or 47 cents, but volume was light.

Also, StemCells(STEM Quote) lost 7.3% after announcing that its fourth-quarter loss widened to roughly $10 million, or 11 cents a share, primarily due to a writedown and a charge.

Elsewhere, NPS Pharmaceuticals(NPSP Quote) rose 14.2% to $5.06 a share. The company reported on Friday that it had a fourth-quarter loss. However, a Jefferies & Co. analyst raised his rating for the stock to buy from hold after an update on two late-stage drug programs and further partnership developments.

Checking in on traditional drugmakers, the Amex Pharmaceutical index added 1.4%. AstraZeneca (AZN Quote) added 4.5%, and Eli Lilly(LLY Quote) ticked up 3.4%. Sanofi-Aventis(SNY Quote) moved up 2.9%.

On the losing end, Schering-Plough(SGP Quote), which Merck(MRK Quote) plans to buy, gave up 2.8%. Merck lost 1.8%.