The vast majority of biotech stocks joined a broad market decline on Wednesday as losers exceeded gainers with Halozyme Therapeutics, Inc. (NASDAQ:HALO) declining the most after Wedbush downgraded the stock to a neutral rating from an outperform rating. In other news, analysts at Jefferies reaffirmed their Underperform rating on the stock.
Geron Corporation (NASDAQ:GERN) and Peregrine Pharmaceuticals (NASDAQ:PPHM) both faced 3rd fall in a row after a Motley Fool article.
AEterna Zentaris Inc. (USA) (NASDAQ:AEZS), Sequenom, Inc. (NASDAQ:SQNM) and Incyte Corporation (NASDAQ:INCY) each lost more than 4% while XOMA Corporation (NASDAQ:XOMA), MannKind Corporation (NASDAQ:MNKD) and InterMune, Inc. (NASDAQ:ITMN) each dropped at-least 2.8% but less than 4%.[article_detail_ad_1]
Cell Therapeutics Inc (NASDAQ:CTIC) fell 4.58% to $1.46. The company has recently declared an independent Data Safety and Monitoring Board Recommendation (DSMB) to continue the GOG-0212 Phase 3 Clinical Trial of OPAXIOTM as maintenance therapy in ovarian cancer.
Dendreon Corporation (NASDAQ:DNDN) retreated 4.17% despite its target price lifted by Cantor Fitzgerald from $6.00 to $7.00.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) traded 3.75% lower on above-average volume as revenue from its hepatitis C drug Incivek declined amid weak demand.
Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) dropped 3.05% after it stated the closure of its previously declared public offering. The company had priced the public offering of 15.3 million common shares at $19.60 per share.
PAREXEL International Corporation (NASDAQ:PRXL) decreased 3.04% after Q2 results raised some red flags with analysts. However, results and outlook surpassed overall estimates.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) continued to fall after TheStreet Ratings reaffirmed recommendation to sell the stock with a ratings score of D-.
VIVUS, Inc. (NASDAQ:VVUS) declined after Form 8-K filing.
Seattle Genetics, Inc. (NASDAQ:SGEN) fell 2.77% after a report that its Chief Medical Officer Reynolds Thomas C sold 2,083 shares at a price of $29.84.
Idenix Pharmaceuticals, Inc. (NASDAQ:IDIX) lost 2.6% after a downgrade to neutral at Wedbush.
Celgene Corporation (NASDAQ:CELG) was down after JPMorgan Chase analysts reaffirmed their “overweight” rating on the stock.
PDL BioPharma Inc. (NASDAQ:PDLI) edged down after declaring 2013 regular quarterly dividends.
More on the flip side, ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), Viropharma Inc (NASDAQ:VPHM), Amgen, Inc. (NASDAQ:AMGN), NPS Pharmaceuticals, Inc. (NASDAQ:NPSP) and Exelixis, Inc. (NASDAQ:EXEL) each lost at-least 1% while Sarepta Therapeutics Inc (NASDAQ:SRPT) and Gilead Sciences, Inc. (NASDAQ:GILD) both decreased about .015%.
On the upside, Arca Biopharma Inc (NASDAQ:ABIO) was the top gainer among biotech stocks with 72.76% rally after the company issued an update on a planned, genetically-targeted clinical trial in atrial fibrillation of its lead developmental drug, Gencaro.
ADVENTRX Pharmaceuticals, Inc. (NYSEAMEX:ANX) soared 21.33% on recruitment of patients in its pivotal phase 3 clinical study of ANX-188 in sickle cell disease.
Hemispherx BioPharma, Inc (NYSEAMEX:HEB) advanced about 20%, Zalicus Inc (NASDAQ:ZLCS) rose about 10% and DARA Biosciences Inc (NASDAQ:DARA) rose about 6%.
Vical Incorporated (NASDAQ:VICL) gained 5.93% after unveiling a plan to report financial results for the three months and twelve months ended December 31, 2012, prior to the opening of trading on Wednesday, February 6.
Rexahn Pharmaceuticals, Inc. (NYSEAMEX:RNN) edged up after Maxim Group began coverage on the stock with a buy rating and a $1.50 price target.
NewLink Genetics Corp (NASDAQ:NLNK) traded higher on pricing public offering at $11.40 per share.
Biogen Idec Inc. (NASDAQ:BIIB) extended gains after fourth-quarter results. In other news, Argus reiterated Buy rating and UBS AG lifted PT on the stock.
YM BioSciences Inc. (USA) (NYSEAMEX:YMI) closed at 52-week high price.
Biosante Pharmaceuticals Inc (NASDAQ:BPAX), Repros Therapeutics Inc (NASDAQ:RPRX), Athersys, Inc. (NASDAQ:ATHX) and Celsion Corporation (NASDAQ:CLSN) each added more than 4.4% while Amicus Therapeutics, Inc. (NASDAQ:FOLD), Illumina, Inc. (NASDAQ:ILMN), Theravance Inc (NASDAQ:THRX), Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) and Santarus, Inc. (NASDAQ:SNTS) each ended as much as 2% higher.
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