NEW YORK (TheStreet) -- Baxter International (BAX) shares are up 1.57% to $71.78 after the company provided an update for the early stage trial results for its gene treatment hemophilia B treatment candidate.
Patients participating in the Phase 1/2 trials have experienced no bleeding episodes and have gone without regular infusions, though one of the two patients treated with the highest dose of the drug did need an infusion after having a negative immune response.
Earlier this month Baxter's board approved the planned separation of the company's biopharmaceutical business into an entity known as Baxalta.
Baxter will retain a 19.5% stake in Baxalta following the spin off which is scheduled to be completed by July 1 with Baxalta trading under the symbol 'BXLT' on the New York Stock Exchange.
TheStreet Ratings team rates BAXTER INTERNATIONAL INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate BAXTER INTERNATIONAL INC (BAX) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its notable return on equity, reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, generally higher debt management risk and weak operating cash flow."