Healthcare Stocks: Rosetta Falls On Equity Offering (ROSG, ALKS, HGSI, DNDN, PBH)
Rosetta Genomics Ltd (USA) (NASDAQ:ROSG) slipped 12.63% to $4.36 on a traded volume of 1.79 million shares. The Company has entered into definitive agreements to purchase an aggregate of 632,057 ordinary shares at price of $3.50 per share in a registered direct offering. The offering is expected to close on or about May 22, 2012. The net proceeds will be primarily to fund its operations and for other general corporate purpose.
Alkermes Plc (NASDAQ:ALKS) declined 4.23% to $17.45 after the Company released fourth quarter results. Total revenues increased 155% to $130.5 million. Net loss was $63.4 million compared to net loss of $13.1 million in the fourth quarter 2011. GAAP net loss per share was $0.49 compared to GAAP net loss of $0.14 per share in the prior year period. Cash and total investments was $246.1 million as on March 31, 2012. The Company expects Non-GAAP diluted EPS to range between $0.62 and $0.77 for fiscal 2013.
Human Genome Sciences (NASDAQ:HGSI) is up 0.70% to $14.35. The Board of Directors has generally determined that the unsolicited tender offer from GlaxoSmithKline to acquire all outstanding common shares of HGS for $13.00 per share in cash is inadequate and is not in the best interests of HGS and its stockholders. The Company has done careful review and consideration with the assistance of the Company’s management and financial and legal advisors
Dendreon Corporation (NASDAQ:DNDN) decreased 8.35% to $7.90. The Company will present PROVENGE(R) at the American Society of Clinical Oncology Annual Meeting taking place June 1-5, 2012 in Chicago.
Prestige Brands Holdings Inc (NYSE:PBH) went up 0.66% to $13.80 after the Company declared fourth quarter results. Revenues rose 39.1% to $134.0 million.
Gross profit increased 47.9% to $68.5 million. Diluted earnings per share were $0.00 compared to $0.13 in the prior year quarter. The Company expects diluted adjusted earnings per share in the range of $1.22 to $1.32 for fiscal year 2013.