Healthcare Stocks: Humana Slumps On Earnings (XOMA, WCRX, MNKD, MDRX, HUM)
XOMA Corporation (NASDAQ:XOMA) surged up 6.50% to $2.96. According to the San Francisco Business Times, XOMA is in takeover talk. The Company’s collaboration with Les Laboratories Servier has given Xoma some stability. The collaboration of both the Companies has led to rumours that Les Laboratories could ultimately buy Xoma.
Warner Chilcott Plc (NASDAQ:WCRX) jumped up 17.40% to $22.06 after the Company said that it would explore strategic options. According to London Times, Bayer AG is offering to bid the Company for $32 per share. The Company had forecast a weak 2012 on lower sales and loss of market exclusivity for its key osteoporosis drug Actonel in Western Europe.
MannKind Corporation (NASDAQ:MNKD) declined 0.89% to $2.22. Tolero Pharmaceuticals and MannKind Corporation announced a license agreement granting Tolero exclusive worldwide rights to develop and commercialize compounds from MannKind’s novel BTK program. This is currently being developed for the treatment of hematological malignancies and inflammatory diseases.
Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) jumped up 5.35% to $10.85 on a traded volume of 8.66 million shares. The Board of Directors has authorized to repurchase an additional $200 million of stock. The total repurchase authorization to $400 million.
The Company announced that its Board of Directors has elected Dennis Chookaszian as Chairman. Mr. Chookaszian, who has been a director since September 2010.
Humana Inc (NYSE:HUM) slipped 7.32% to $81.39 after the Company posted first quarter results. Net income was $248 million or $1.49 per share compared to $315 million or $1.86 per share in the prior year period. Revenue increased 11.2% to $10.22 billion. The Company spent 85.4% of premium revenue on medical benefits. The analysts were expecting $1.53 per share.
With its individual Medicare Advantage membership growing to nearly 1.89 million as of March 31, up by 15% from the end of last year, the company increased its investment in anticipation of further gains. Group Medicare Advantage membership was up 21% to 385,800 as of March 31.