Align Technology, Inc. (NASDAQ:ALGN) report a profit of 42 cents a share or $34.5 million, which is increased 20.5% year-on-year basis for the third financial quarter ended 30 September. The revenue was declared as $164.5 million, and estimated that for the fourth financial quarter its revenue increased 27% to 30%. The healthcare firm further added that its fourth quarter volume increase 21% to 24%.
While analyst at Cantor Fitzgerald raises its rating for the firm from “hold” to “buy” with $60 from $42 for its shares price target, the better rating was assign to the firm due to improved pricing and volume trends. The analyst Jeremy Feffer said better Q3 results as well as guidance dispel many of the analyst concerns.
The analyst at JMP Securities restated its rating as a “market outperform” as well as increase the share price target to $64 from $47. The firm also added they will keep on increasing a position in the company’s shares, citing the unveiling of new products such as SmartTrack and Realine , expanding international distribution, an underpenetrated market and better customer demand. Align Technology, Inc. (NASDAQ:ALGN) shares rose 26.24% to $57.98 in last trading session.
Anacor Pharmaceuticals Inc (NASDAQ:ANAC) declared that an arbitrator has settle its dispute with Valeant Pharmaceuticals, which is a Canadian drug manufacturer. The settlement say that the Canadian firm will pay $100 million as fine that mostly include attorney’s fees and pay cost for the settlement of dispute. The company also added it is likely that by the end of this year the award is confirmed by the Canadian firm they schedule for the payment which will be afterward completed in six months.
While the Canadian firm also added, this settlement will not hamper its efforts for antifungal drug Jublia to be market, as well as it was not obligate to make any royalty payments. While Anacor believes it has still some other allegation against the Canadian firm associated to other disputes. Anacor Pharmaceuticals Inc (NASDAQ:ANAC) shares up 28.41% to $13.83 in last trading session.