Human Genome & Gilead Sciences Lead Healthcare Gainers (DNDN, BSX, CTIC, GILD, CBST, HGSI)
Human Genome Sciences (NASDAQ:HGSI) among the gainers and the stock moved up 97.35% to $14.16 as the company has denied to accept a $2.59 billion or $13-a-share cash offer from GlaxoSmithKline Plc. (GSK). The offered amount represent a hefty premium of over 81% to yesterday’s closing price of $7.17. The company rejected the offer as it finds the offer price insufficient and indicated the company may shop itself to others.
Boston Scientific Corporation (NYSE:BSX) jumped up 6.86% to $5.92 after the company posted a better than estimated earnings. The Company posted first quarter sales of $1.866 billion compared to $1.925 billion in the first quarter of 2011. Net income was $113 million or $0.08 per share in the first quarter of 2012. Boston expects second-quarter net earnings of 6 to 9 cents per share on revenues of $1.85 billion to $1.95 billion.
For the year, it estimated revenues of $7.35 billion to $7.65 billion. Previously it forecast $7.30 billion to $7.70 billion.
Cell Therapeutics Inc (NASDAQ:CTIC) increased 1.74% to $1.17 after the company agreed to buy the worldwide rights to Pacritinib from S*Bio for $15M in cash and $15M in preferred stock.
Gilead Sciences Inc (NASDAQ:GILD) surged up 12.12% to $52.26 after the company reported positive results from a 12-week study of its Hepatitis C treatment GS-7977 with 93% cure rate among patients with the most common form of the disease in the U.S. Between 91 percent and 100 percent of patients remained clear of the virus four weeks after treatment ended.
Cubist Pharmaceuticals Inc (NASDAQ:CBST) went up 3.81% to $42.22. Needham & Company maintained hold rating on the stock. The Company reported first quarter profit of $32.8 million or 45 cents per share compared to $22.6 million or 34 cents per share in the prior year period. Revenue climbed 30% to $211.7 million.
Dendreon Corporation (NASDAQ:DNDN) soared 10.58% to $9.94 as this morning The hefty premium that Human Genome Sciences rejected from GlaxoSmithKline. So far this year, the stock is up over 31%.