Health stocks followed the dismal path of the broader markets Monday -- despite a few individual stock successes -- with little enthusiasm for the start of second-quarter earnings.

The Nasdaq and Amex biotechnology indices were down 0.6% and 0.3%, respectively, while the Amex pharmaceutical index gave up 0.2%.

One Nasdaq component bucking the trend,

Cardiome

(CRME)

shares added $2.03, or 24.3%, climbing to $10.37, on Monday after the company said that its experimental drug

vernakalant reduced the rate of abnormal heart rhythms

in patients in a phase IIb study.

In analyst actions, Lazard Capital upped its price target for

Sequenom

(SQNM)

to $26 from $20 on Monday, citing revenue potential of the company's Down's Syndrome test in light of its decision to market it without a partner in the U.S. Shares were up $1.86, or 10.2%, at $20.06.

Citigroup gave

Genzyme

( GENZ) a big upgrade, raising its rating to buy from hold and upping its price target to $91 from $80. Genzyme shares traded up $1.27, or 1.7%, at $76.94.

Elsewhere,

GlaxoSmithKline

(GSK) - Get Report

said Monday that it entered into a agreement with

Actelion

to co-develop and co-commercialize Actelion's insomnia drug almorexant. Glaxo is paying Actelion roughly $147 million upfront, with the potential for roughly $406 million in future milestones, in addition to milestones tied to further indications. Glaxo shares were trading down 73 cents, or 1.5%, at $46.79.

In another team-up,

Immunomedics

(IMMU) - Get Report

said Monday that it entered into a licensing agreement with

Noycomed

for veltuzumab, a subcutaneous formulation for the treatment of all non-cancer indications. Nycomed will develop the drug in rheumatoid arthritis as the primary indication.

Immunomedics will receive $40 million upfront and up to $580 million more tied to clinical, regulatory and sales-based milestones as well as royalties on sales. Shares were up 37 cents, or 16.8%, at $2.57.

Also trading lower was

Introgen

(INGN) - Get Report

, which was

featured in a column

on

TheStreet.com

that took a critical look at the company's drug candidate Advexin. The stock was down 29 cents, or 19.5%, at $1.20.

Last, get ready for

Genentech

( DNA) to kick off earnings season after the closing bell. Analysts, on average, are looking for 86 cents a share on revenue of $3.2 billion for the quarter. Shares traded down $2.36, or 3%, to $75.39.