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Roche Holding AG ($RHHBY) announced the positive results from the Phase III APHINITY study. The trial is being conducted by Roche Group firm Genentech, the Breast International Group (BIG) and Breast European Adjuvant Study Team. The study met its primary endpoint and showed that adjuvant (after surgery) treatment with the combination of Perjeta®, Herceptin® and chemotherapy (the Perjeta-based regimen) achieved a statistically significant reduction in the risk of recurrence of invasive disease or death in people with HER2-positive early breast cancer compared to Herceptin and chemotherapy alone.
The company stock is up 7 percent this year so far while it lost over 6 percent of its value in the past 12 months.

Opko Health Inc. ($OPK) announced its quarterly results. The company reported its consolidated revenue for the year ended December 31, 2016 at $1.22 billion, up from $491.7 million for the comparable period of 2015. Its fourth quarter revenue stood at $275.5 million. The company’s net loss for the three months ended December 31, 2016 was $13.7 million compared with net income of $1.6 million for the 2015 period.
The company stock is trading 5 percent down in the pre-market session. Opko stock is now 10 percent down on Year to Date basis. The company also reported that its received a $15 million milestone payment related to the first commercial sale of Varubi™ by TESARO during the fourth quarter.

 

• PDL BioPharma ($PDLI) announced that it has authorized the plan to repurchase of up to $30 million of the company's common stock through March 2018. The company plans to utilize its cash pile arising out of its matured investments for this purpose. The company also said that the repurchase will help in creating shareholder value.
• Humana Inc. ($HUM) is reported to be planning the layoff of an unspecified amount of positions at its headquarters located in Louisville, KY. and other sites, as told by Humana employees to the Courier-Journal. The company is believed to have notified the entire staff working in the claims processing unit in Green Bay, WI. their jobs were being eliminated.

• Zogenix Inc. ($ZGNX) announced that its lead product candidate ZX008 has received an orphan medicinal product designation for the treatment of a rare and severe form of childhood epilepsy called Lennox-Gastaut syndrome. The designation will bestow a 10-year period of market exclusivity for the indication, if approved. The drug already has Orphan Drug status in the U.S. for LGS and Fast Track status for Dravet syndrome.
• Omeros Corporation ($OMER) reported additional positive data from the ongoing Phase 2 clinical trial evaluating OMS721 in the treatment of hematopoietic stem cell transplant-associated thrombotic microangiopathy. Patients treated with OMS721 showed a statistically significant improvement in TMA disease activity, specifically in mean platelet count, mean LDH and mean haptoglobin.

 
• Aerie Pharmaceuticals ($AERI) announced that it has resubmitted its NDA for RhopressaTM to the FDA. The company has by its contract drug product manufacturer that the vendor’s Tampa, Florida facility is now ready for pre-approval inspection by the FDA received a notification. Earlier in October, 2016, the company had withdrawn its NDA as the contract manufacturer was not yet prepared for pre-approval inspection by the FDA at that time.

 
• Akorn Inc. ($AKRX) reported its quarterly and full year results. The company reported evenues of $284 million for the fourth quarter 2016 representing an increase of $4 million, or 1%, over the fourth quarter 2015. Full year 2016 revenues of $1,117 million represented an increase of $132 million, or 13.4%, over prior year revenues of $985 million. Its GAAP net income for the fourth quarter 2016 was $32 million, or $0.26 per diluted share, compared to GAAP net income of $33 million, or $0.27 per diluted share, in the same quarter of 2015.

Brokerage Action Company Rating Price Target
RBC Capital Markets Lowers Target Akorn (AKRX)
$21.00
RBC Capital Markets Reiterates Eagle Pharmaceuticals (EGRX)
Outperform $86.00
Needham & Company LLC Reiterates Geron Corporation (GERN)
Hold
Piper Jaffray Companies Reiterates Geron Corporation (GERN)
Overweight $5.00
RBC Capital Markets Lowers Target Impax Laboratories (IPXL)
$10.00
Cantor Fitzgerald Reiterates Intra-Cellular Therapies (ITCI)
Buy $32.00
Citigroup Downgrades Kite Pharma (KITE)
Buy -> Neutral
Chardan Capital Raises Target La Jolla Pharmaceutical Company (LJPC)
$90.00
RBC Capital Markets Raises Target Mylan (MYL)
$48.00
RBC Capital Markets Lowers Target Puma Biotechnology (PBYI)
$48.00
BMO Capital Markets Reiterates Pacira Pharmaceuticals (PCRX)
Hold $45.00

Gainers (% price change)Last TradeChangeMkt CapDynavax Tech. Corp.DVAX6.90+2.40 (53.33%)271.88MAmicus Therapeutics, Inc.FOLD7.60+1.11 (17.10%)1.09BRigel PharmaceuticalsRIGL2.85+0.40 (16.33%)329.47MPacira PharmaceuticalsPCRX49.55+5.85 (13.39%)1.78BBioCryst PharmaceuticalsBCRX6.86+0.62 (9.94%)573.02MLosers (% price change)Impax Laboratories IncIPXL9.30-4.95 (-34.74%)668.26MCyberOptics CorporationCYBE27.85-6.55 (-19.04%)189.75MCapital Senior LivingCSU15.26-1.54 (-9.17%)444.41MLife Technologies Corp3.75-0.25 (-6.25%)103.12MCommunity Health SystemsCYH9.19-0.56 (-5.74%)1.05BMost Actives (dollar volume)Johnson & JohnsonJNJ123.86+1.65 (1.35%)336.44BPfizer Inc.PFE34.42+0.30 (0.88%)203.91BBristol-Myers Squibb CoBMY57.18+0.47 (0.83%)95.90BMerck & Co., Inc.MRK66.21+0.34 (0.52%)182.61BGilead Sciences, Inc.GILD70.19-0.29 (-0.41%)92.45B