Biopharmaceutical stocks were somewhat mixed today yet we have some nice moves in our portfolio:
Alexion (ALXN $125.26) up 7.34% on Q3 Results which showed a 36% increase in sales to $400M and Net Income (GAAP) of $93.8M up from $92.2M in the same quarter of 2012. The Company has $1.3B in cash. A growing pipeline of potential products are under development for severe and ultra rare diseases.
Alkermes (ALKS $36.17) is up 4.2% probably anticipating favorable pipeline news for example the fast tracked ALKS 5462 for major depressive disorder (MDD). ALKS has 8 CNS drugs in its pipeline including treatments for pain, Type 2 Diabetes, schizophrenia and MDD.Analysts are forecasting $552M in revenues for fiscal year ending Mar.’14.
Immunogen (IMGN $17.68) up 2.5% on Q3 Financial results guiding FY 2014 Revenues up to $71-75M and an update of its pipeline for ADC (Antibody Drug Conjugate) drugs under development.
Trading down were Achillion ($2.50) down 4% and Seattle Genetics (SGEN $40.71) down 3%. Our mid-cap index was flat with the screen mixed red and green.