Biotech Movers: Buzz on Potential Suitors Sends United Therapeutics Stock Soaring

Shares of United Therapeutics Corp. (UTHR) jumped 8.6% to $137.82 in morning trading on Friday, Aug. 4, on the heels of an Evening Standard report that GlaxoSmithKline plc (GSK) could be among the suitors for United Therapeutics.

The report stated that Gilead Sciences Inc. (GILD) "is thought to be the frontrunner for United in what could become an auction process," adding that other potential suitors include Novartis AG NVS.

United Therapeutics on July 27 reported second-quarter non-GAAP earnings per diluted share of $4.37, down 1% from the same period a year ago. Revenue rose 8% to $444.6 million, which marks the company's highest quarterly net revenue level ever, chairman and CEO Martine Rothblatt noted in the news release.

Analysts had projected adjusted EPS of $3.79 on revenue of $391.50 million, according to Bloomberg.

Meanwhile, Epizyme, Inc. (EPZM) on Friday reported a loss per share of 48 cents, compared with a loss of 49 cents in the year-ago period. The company said $10 million of revenue was recognized in the second quarter of 2017, compared to $0.5 million in the same period last year.

Shares of Epizyme were up 1.2% to $12.60.

In other news, Eli Lilly & Co. (LLY) said Friday that lasmiditan, a potential treatment for migraine, achieved its primary endpoint in Spartan, a second Phase 3 study. Shares of Lilly were trading at $82.08, up 0.2%.

Eli Lilly is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells LLY? Learn more now.

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