Archive for the ‘Health Care Stocks’ Category

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BIOS, MSPD, PTEK take hard hits Tuesday

Tuesday, November 2nd, 2010

BioScrip, Inc. (NasdaqGM: BIOS) tumbled 25.93 percent by noon Tuesday to $4.17, on heavy volume of 1,837,290 shares, nearly four times its average daily volume. The national provider of specialty pharmacy and home care products and services Tuesday announced third-quarter revenue of $441.2 million and net income of $2.0 million or $0.04 earnings per diluted share (EPS). Its 52-week trading range dipped to $4.07 before soaring to $9.84

Mindspeed Technologies Inc. (NasdaqGM: MSPD) skidded 22.91 percent by lunch hour Tuesday to $5.82, on volume of 5,703,805, nearly 10 times its daily average over the last three months. The stock’s 52-week gully was 3.25, its peak at 11.13. The chip maker Monday posted revenue of $57.6 million, well ahead of the Street consensus, but sees Q1 revenue dropping to a range of $40.3 million to $41.2 million, well below the Street consensus.

PokerTec Inc. (Nasdaq: PTEK) fell 16.96 percent in price by noon Tuesday to 0.8968, on volume of 360,386, compared to daily average of 85,329. The stock’s 52-week range varies from 0.37 to 1.63. The casino products maker Tuesday announced its gross profit increased by 87% in the third quarter and 58% Year-To-Date.

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Avanir Pharmaceuticals, Inc. (AVNR) – After-hours Buzz Stock of the Day

Friday, October 29th, 2010

Shares of Avanir Pharmaceuticals, Inc. (Nasdaq: AVNR) were up more than 15 percent in after-hours trading on Friday after it was reported on TheStreet.com that the U.S. Food and Drug Administration approved Avanir’s Nuedexta for the treatment of pseudobulbar affect.

Pseudobulbar affect (PBA), sometimes called emotional incontinence refers to a neurologic disorder characterized by involuntary crying or uncontrollable episodes of crying and/or laughing, or other emotional displays. Prevalence estimates place the number of people with PBA between 1.5 million and 2 million in the United States alone. However, given the fact that PBA is a relatively common disorder among patients with various neurologic conditions, its actual prevalence may be higher.
[–quote–]
Carol Werther of SummerStreet Research Partners, an independent healthcare research firm, predicted the approval in an Oct. 15 note to clients.

“We expect a label to treat the signs and symptoms of PBA with warnings not to use with drugs that increase QTc wave prolongation,” the note stated. “Data from the advanced cardiac safety study (ACSS) indicates that AVP-923, even using a 10mg dose of quinidine, still prolongs the QTc (mean of 8.9 ms), just above the level the FDA considers no risk for Torsades de Pointes. (5 msec). Nevertheless, we do not think this will stop approval as many marketed drugs have similar profiles. AVNR submitted a risk map program to prevent abuse of AVP-923.”

Nuedexta, formerly known as AVP-923 and the trade name Zenvia™, is a combination of two well-characterized compounds, the active ingredient dextromethorphan, and the enzyme inhibitor quinidine, which serves to increase the bioavailability of dextromethorphan. Avanir is developing Nuedexta for use in PBA and diabetic peripheral neuropathic pain.

“The FDA approval of NUEDEXTA marks an important milestone for people living with PBA, an under-recognized and debilitating neurologic condition,” said Keith Katkin, president and chief executive officer of Avanir in a statement. “The approval of NUEDEXTA also marks AVANIR’s transition toward becoming a commercial enterprise, ready to support the successful launch of the first FDA-approved treatment for PBA. We expect that NUEDEXTA will be available by prescription during the first quarter of 2011.”

Shares of Avanir Pharmaceuticals are down about 13 percent in the past three months.

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MIPS, APPY, RFMD, SHMN – Buzz Stocks With Big Gains This Week

Friday, October 29th, 2010

Several of this week’s Buzz Stocks have had a string of days with solid gains:

MIPS Technologies, Inc. (Nasdaq: MIPS) – Shares of MIPS Technologies increased almost 24 percent from Monday’s closing price in morning trading on Tuesday after the chip maker announced first quarter profit of $7.6 million, or 16 cents per share, compared with $595,000, or a penny per share, a year earlier. Shares closed on Tuesday at $14.12, after rallying as high as $14.18. The next day, shares spiked to $14.65, before closing at $14.34. Shares of MIPS Technologies have are up about 40 percent since Monday.

AspenBio Pharma, Inc. (Nasdaq: APPY) – Shares of diagnostic products maker, AspenBio Pharma, Inc. (Nasdaq: APPY) were up as much as 71 percent from Monday’s closing price, in morning trading on Tuesday after the company announced that it initiated manufacturing on its AppyScore™ cassette-based test system, and added personnel to handle its clinical, regulatory and commercial planning efforts. Shares traded as high as 98 cents, before closing at 71 cents on Tuesday. Shares traded between 80 cents 61 cents on Wednesday and Thursday, and were trading at 69 cents in mid-day trading on Friday. Shares of AspenBio Pharma, Inc. are up about 86 percent since Monday.

RF Micro Devices, Inc. (Nasdaq: RFMD) – Shares of RFMD were up 13 percent in morning trading on Wednesday after the company posted revenue of $285.8 million, and EPS of 19 cents for its fiscal second quarter ended October 2. Analysts on average expected EPS of 16 cents, on revenue of $275.9 million. Since then, shares have continually moved higher, trading as high as $7.45 on Thursday. At mid-day Friday, shares of RFMD were trading at $7.39, up about 11 percent since Monday.

SOHM, Inc. (Pink Sheets: SHMN) – The generic drug maker had several news releases this week announcing its intent to capitalize on the market opportunity in India for the company’s products. On Thursday,SOHM announced the addition of six new generic pharmaceutical products targeting asthma and respiratory disease. Shares of SOHM rallied as high as 9 cents on Thursday, before closing at 6 cents per share. Trading volume on Thursday was 10.5 million shares, a significant increase over SOHM’s average three-month trading volume of 165,398 shares. Shares of SHMN are up approximately 60 percent since Monday.

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Pervasip Corp. (PVSP), SOHM, Inc. (SHMN) – Today’s Top OTC Buzz Stocks

Thursday, October 28th, 2010

Shares of Pervasip Corp. (OTCBB: PVSP) were up 40 percent from Monday’s closing price, on Tuesday after the company announced that its wholly-owned subsidiary, VoX Communications Corp. released a new Voice over IP (VoIP) application for Android®. Unlike other VoIP applications that require Wi-Fi, the Android application developed by Vox Communications, and Nimbuzz, also runs on 3G networks.  Pervasip is a partner in Nimbuzz’s SIP Premium Affiliate Partner Program that was established to enable 3rd party SIP technology providers, like Pervasip, to offer their services across the Nimbuzz open, universal communications platform. “We are very excited to become the first US-based premier partner to integrate our cloud-based SIP mobile calling software with Nimbuzz,” said Pervasip’s Chief Information Officer, Mark Richards in a statement. “A smooth and easy download, people appreciate having a phone line from VoX, which gives them a second phone number, a second voice mail box and low-priced VoIP calling plans that run over both the 3G and WiFi data networks. We see reports of daily sales for approximately 200,000 Android phones.” Every Nimbuzz Android download will also feature the VoX logo as the second icon on the SIP providers list within the installed Nimbuzz application. Shares of Pervasip are down roughly 60 percent over the past three months.

Shares of SOHM, Inc. (Pink Sheets: SOHM) were up more than 42 percent from Monday’s closing price on Tuesday on volume 10,568,984. SOHM shares’ average three month trading volume is 165,398. The generic drug maker today announced the addition of six new generic pharmaceutical products targeting asthma and respiratory disease. “”The market for respiratory products in India is huge,” stated Shailesh Shah, Vice President for Corporate Strategy at SOHM, Inc. in a written statement. According to a recent news release, India’s respiratory drug market size is approximately $600 million annually. Shares of SOHM, Inc. are up about 9 percent over the past three months.

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Top Buzz Stock Gainers (SIMG, NBR, AMLN, CML)

Wednesday, October 27th, 2010

Silicon Image, Inc. (NasdaqGS: SIMG) Stocks of SIMG are currently trading at $6.29 on massive volume, up more than 38 percent from Tuesday’s closing price of $4.55 SIMG is racing to two-year highs on reported third-quarter sales of $60.5 million, 20% stronger than analyst expectations and  more than three times expected earnings.

Nabors Industries, Inc. (NYSE: NBR) Shares of Bermuda-based Nabors were up 5.02 percent at $20.42, after the company reported a 29-cent per share quarterly profit, which beat Street estimates by 6 cents. Nabors’ revenue of $1.08 billion also came in ahead of the forecast of $963 million. The stock is still down 7 percent so far in 2010.

Amylin Pharmaceuticals, Inc.(Nasdaq: AMLN) soared 11.3 percent to a high of $13.36, on more than four times average volume. Shares skyrocketed after the maker of the diabetes treatment Byetta was raised to “outperform” from “market perform” at Leerink Swann & Co.

Compellent Technologies Inc. (NYSE: CML) Volume skyrocketed to 6.5 million today as shares touched on a 52-week high of $26.44, representing a 32 percent increase over previous day close of $19.70. Compellent Technologies, which sells data storage to large businesses, surged after beating Wall Street expectations in the third quarter, and amid rumors of an acquisition by computer maker Dell Inc. 

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