Health Winners & Losers: Alnylam
Biotech stocks had a flat but smooth start to the weekend amid a trail mix of earnings, while Big Pharma proved a little less resistant to tremors at
AIG
(AIG) - Get Report
.
The Nasdaq and Amex biotechnology indices closed out relatively flat on Friday.
But pharma stocks took a slight dip, with the Amex Pharmaceutical index down 1.3% at 296.20. One offender,
Bristol-Myers Squibb
(BMY) - Get Report
fell 4.7% to $21.71.
Also, pharma index component
Sanofi-Aventis
(SNY) - Get Report
gave up 6% to $36.45 as investors gauged a possible threat from Swiss generic-drug maker
Schweizerhall
, which intends to market a generic version of Sanofi's blood thinner Plavix. Sanofi claims patents protect the product until 2013.
Alnylam
(ALNY) - Get Report
said Thursday post close that it lost $1.2 million, or 3 cents a share, in the first quarter, vs. a loss of $21.6 million, or 58 cents a share, a year prior. Revenue increased to $22.2 million, from $7.2 million in the 2007 period. Analysts surveyed by Thomson Reuters had expected 14 cents a share on $19.3 million.
Shares were up 9% at $27.67.
Also high on first-quarter earnings,
Medicis
(MRX)
tacked 10.6% to $22.35. The company earned $22.1 million, or 34 cents a share, vs. $9.3 million, or 15 cents a share, during the year-ago period. Revenue climbed 38% to $131.3 million. Wall Street analysts expected 34 cents a share, on revenue of $130.9 million.
Medical device company
Somanetics
(SMTS) - Get Report
said Friday that its board approved an additional repurchase of $15 million in common shares -- bringing the total repurchase to $30 million. The company expects to fund its repurchase program with existing cash and cash equivalents on hand, making purchases from time to time in the open market or in privately negotiated transactions. Shares were up 7.2% at $16.73.
Elsewhere
Mylan
(MYL) - Get Report
found itself down on Friday. The company said Thursday post market close that it lost $409.2 million, or $1.46 a share in the recent quarter, vs. a loss of $71.3 million, or 31 cents a share, in the year-prior period.
On an adjusted basis, excluding an impairment charge, the company reported a profit of 9 cents a share, down from 47 cents a year earlier. Revenue increased 120% to $1.06 billion, while the Thomson Reuters consensus target was for earnings of 8 cents a share on $1.13 billion in revenue.
Moreover, the company slashed its guidance for full-year adjusted profit to between 40 and 50 cents a share from between 70 and 90 cents a share. Wall Street analysts had pegged 53 cents a share. Mylan shares were off 8.4% at $11.42.