Healthcare Stocks: StemCells Soars Over 50% (STEM, JNJ, FRX, IRWD, APRI)
StemCells Inc (NASDAQ:STEM) among the top performers and the stock jumped up 50.46% to $1.29.The Company announced that its proprietary human neural stem cells restored memory and enhanced synaptic function in two animal models relevant to Alzheimer’s disease . The data was presented at the Alzheimer’s Association International Conference 2012 in Vancouver, Canada. The study results showed that transplanting the cells into a specific region of the brain, the hippocampus, statistically increased memory in two different animal models.
Johnson & Johnson (NYSE:JNJ) declined 1.01% to $67.75 after the Company lowered the guidance for fiscal year 2012. The Company expects adjusted earnings guidance for fiscal 2012 to $5.00-$5.07 per share.
The Board of Directors has declared a cash dividend for the third quarter of 2012 of $0.61 per share. The dividend is payable on September 11, 2012 to shareholders.
Forest Laboratories Inc (NYSE:FRX) soared 1.02% to $35.54 after the Company reported first quarter results. Earnings per share were $0.21 in the first quarter of fiscal 2013. Net sales for the quarter decreased 31.9% to $751.8 million. Contract revenue was $65.8 million compared to $40.6 million in the prior year period. Net income was $55.3 million or $0.21 per share compared to $258.1 million or $0.90 per share in the first quarter of 2012.
Ironwood Pharmaceuticals Inc (NASDAQ:IRWD) moved down 2.52% to $13.58 after the Company provided an update on second quarter 2012 and recent business activities. The Company reported second quarter EPS of ($0.38), beating the analyst’s estimate of ($0.32). Revenue for the quarter was $14.6 million versus the consensus estimate of $14.6 million.
The U.S. Food and Drug Administration notified Ironwood and Forest Laboratories Inc that it will require a three-month extension to complete its review of the data supporting the New Drug Application for linaclotide for the treatment of irritable bowel syndrome with constipation and chronic constipation.
Apricus Biosciences Inc (NASDAQ:APRI) slipped 3.93% to $3.06. The Company announced the closing of its agreement to own Finesco. Finesco is the French parent and holding company of Scomedica. This Company is a leading French healthcare contract sales and marketing organization. Finesco and Scomedica will operate as wholly-owned subsidiaries of Apricus Biosciences.