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Momenta Pharmaceuticals ($MNTA) reported a potential hurdle in an application for its Glatopa products. The company said that Sandoz’s contracted fill/finish manufacturing partner, Pfizer, has received an FDA warning letter. The Pfizer facility is a key part of the supply chain for the Company’s Glatopa products. Warning letter does not restrict the production or shipment of Glatopa 20 Mexus Gold. However, the issue will impact the approval of the Glatopa 40 mg ANDA.
Momenta Pharmaceuticals is scheduled to announce its fourth quarter and full year earnings for the year 2016 on February 21. The company stock has shown strong performance in the past 12 months as it recorded over 97 percent appreciation in its price. It has appreciated 26 percent this year so far.

Boston Scientific Corporation ($BSX) recently announced its fourth quarter. The company earned $0.30 per share or $124 million, beating consensus estimate of $0.29 per share. The medical device manufacturer posted revenue of $2.19 billion in the period, also beating Street forecasts of $2.16 billion.
Boston Scientific also reported its full year results. The company’s net income for the entire year stood at $0.25 per share or $347 while its revenue was reported as $8.39 billion. The company said it expects revenue in the range of $2.05 billion to $2.1 billion for the fiscal first quarter. It also expects its full-year earnings in the range of $1.22 to $1.26 per share, with revenue ranging from $8.68 billion to $8.88 billion.
The company stock has gained 47 percent in the past 12 months.

 

• Insulet ($PODD) announced positive results from the first feasibility study of the Omnipod Horizon™ hybrid closed-loop system. The study showed that the Omnipod automated glucose control algorithm performed well, was safe during the day and night for adults with type 1 diabetes, and was very effective at night with minimal hypoglycemia and excellent fasting glucose. Study involved 24 adults with type 1 diabetes.
• Aetna ($AET) announced the approval of a new $4 billion share repurchase program. The company announced that it would double its quarterly cash dividend to 50 cents per share. This Buyback is in addition to roughly $1.1B previously authorized under existing programs. The dividend is payable April 28 and the record date is April 13.

• Mesoblast Limited ($MESO) reported 39-week data from its Phase 2 trial in patients with rheumatoid arthritis (RA) resistant to anti-Tumor Necrosis Factor (TNF) agents. The results showed that a single intravenous infusion of the Company's proprietary allogeneic cell therapy product candidate, MPC-300-IV, was well tolerated. The study also showed a durable improvement in clinical symptoms, physical function, and disease activity relative to placebo over this period of follow-up. The study involved a total of 48 patients with active RA who were on a stable regimen of methotrexate and had an inadequate prior clinical response to at least one anti-TNF agent.
• ArQule ($ARQL) reported that its lead product candidate tivantinib failed to beat best supportive care in a 340-subject Phase 3 study, METIV-HCC, in a second-line setting in patients with MET-overexpressing, inoperable hepatocellular carcinoma (HCC). The primary endpoint was overall survival. Secondary endpoints included progression-free survival and safety.

 
• Johnson & Johnson ($JNJ) announced that its Ethicon unit has acquired privately held Torax Medical. The deal is expected to be closed by the end of this quarter. The companies did not disclose financial terms of the deal. Torax has estimated annual revenue of $15.9 million. The company had announced last year the completion of $25 million in Series E financing led by Johnson & Johnson Innovation. The proceeds were allocated for scaling the platform of products, which are used for treating chronic diseases related to weak sphincter muscles.

 
• DENTSPLY SIRONA Inc. ($XRAY) announced net sales of $996.5 million for the fourth quarter, up 48.5% compared to $671.1 million in the fourth quarter of 2015. For the full year, the net sales were $3.7 billion, up 40.0% compared to $2.6 billion in 2015. The company’s adjusted net income for the quarter was at $0.67 per share, beating consensus estimate of $0.65 per share. For the year, the company reported profit of $429.9 million, or $1.94 per share. Dentsply expects its full year earnings in the range of $2.80 to $2.90 per share.

• ImmunoGen Inc. ($IMGN) reported loss of $0.39 per share for its second quarter. The total loss for the quarter stood at $34.2 million. The company announced that its revenue for the quarter was $13.8 million, missing street expectations of $19.2 million. The company expects its full-year revenue in the range of $70 million to $75 million.

Brokerage Action Company Rating Price Target
Piper Jaffray Companies Reiterates Aimmune Therapeutics (AIMT)
Overweight $40.00
BMO Capital Markets Reiterates Alexion Pharmaceuticals (ALXN)
Outperform $166.00 -> $158.00
Mizuho Reiterates Celgene Corporation (CELG)
Buy $130.00
J P Morgan Chase & Co Reiterates Editas Medicine (EDIT)
Hold
Jefferies Group LLC Reiterates GlaxoSmithKline PLC (GSK)
Buy
Chardan Capital Reiterates Ritter Pharmaceuticals (RTTR)
Buy $4.50
BMO Capital Markets Reiterates Zoetis (ZTS)
Outperform $60.00

Gainers (% price change) Last Trade Change Mkt Cap
Myriad Genetics, Inc.
MYGN (NASDAQ)
18.62 +1.35 (7.82%) 1.26B
Clovis Oncology Inc
CLVS (NASDAQ)
65.80 +4.43 (7.22%) 2.87B
Cryolife Inc
CRY (NYSE)
17.25 +1.15 (7.14%) 466.64M
RTI Surgical Inc
RTIX (NASDAQ)
3.53 +0.23 (6.82%) 197.00M
CyberOptics Corporation
CYBE (NASDAQ)
38.55 +1.70 (4.61%) 259.68M
Losers (% price change)
Nu Skin Enterprises, Inc.
NUS (NYSE)
48.23 -6.91 (-12.53%) 2.63B
Brookdale Senior Living
BKD (NYSE)
14.37 -1.01 (-6.57%) 2.70B
Infinity Pharmaceuticals
INFI (NASDAQ)
2.44 -0.13 (-5.06%) 120.40M
Pacific Biosciences of
PACB (NASDAQ)
5.33 -0.23 (-4.14%) 520.98M
Fluidigm Corporation
FLDM (NASDAQ)
6.59 -0.28 (-4.08%) 195.30M
Most Actives (dollar volume)
UnitedHealth Group Inc
UNH (NYSE)
157.62 -6.03 (-3.68%) 149.34B
Pfizer Inc.
PFE (NYSE)
33.62 +0.00 (0.00%) 204.69B
Johnson & Johnson
JNJ (NYSE)
118.86 +0.78 (0.66%) 325.79B
Gilead Sciences, Inc.
GILD (NASDAQ)
69.85 -0.46 (-0.65%) 92.70B
Amgen, Inc.
AMGN (NASDAQ)
173.29 +1.18 (0.69%) 129.15B