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HealthSouth Corp ($HLS) stock gained over 2 percent in its Tuesday trading session as the company reported its quarterly numbers. Its earnings for the quarter stood at $0.72 per share, beating consensus estimates of $0.63 per share in earnings. The company’s revenue for the quarter stood at $949.9 million, lagging behind estimates of $955.6 million.
The company also provided results for its complete financial year as its revenue for the period stood at $3.71 billion. HealthSouth earned profit of $247.6 million for the corresponding period. It expects the full year revenue for 2017 to be in the range of $3.85 billion to $3.95 billion, while its earnings are expected to be between $2.61 and $2.73 per share.
The company stock is currently trading close to its 52 weeks high. The stock gained over 37 percent in the past 12 months.

Delcath Systems Inc. ($DCTH) reported the results for its investigational Melphalan/HDS. The results showed that 45.7 percent of patients with ocular melanoma that metastasized to the liver who underwent percutaneous hepatic perfusion (PHP). experienced a complete or partial response. The study further showed that among those who responded to treatment, overall survival was projected to be more than three years.
The analysis reviewed outcomes of 49 patients treated between 2008 and 2016 with Melphalan/HDS at either the Moffitt Cancer Center or the University Hospital Southampton. The company stock responded positively to the news as it jumped over 11 percent in the after-hour trading. The system is currently undergoing Phase 3 clinical testing in the U.S. as an investigational product.

 

• Abbott ($ABT) announced that it has commenced an offer to exchange five series of notes previously issued by St. Jude Medical, LLC for notes issued by Abbott. The notes are worth nearly $3.1 billion. The company is looking to solicit consents from noteholders to accept less restrictive terms, specifically the elimination certain covenants, event of default provisions and others. Holders will be entitled to receive $1,000 principal amount of Abbott notes in exchange for each $1,000 principal amount of the St. Jude notes in addition to a cash consent fee of $2.50.
• Align Technology ($ALGN) announced acquiring G.L. Dental Couture Limited. The company is Align’s nvisalign distributor in Europe, the Middle East and Africa. The transaction should close by the end of the week. Align will open its first office in the Middle East this week. The companies did not disclose the financial terms of the deal.

• Novadaq Technologies ($NVDQ) reported that its Dermacell has been approved by Cigna for coverage. Dermacell is a cellular dermal matrix and is used in breast reconstruction surgery and for the treatment of diabetic foot ulcers. the product is exclusively distributed by Novadaq Technologies.
• Amgen ($AMGN) reported that the European Commission has approved a new single-dose delivery option for its PCSK9 inhibitor Repatha (evolocumab), specifically a single dose of 420 mg once per month delivered via an automated mini-doser with a pre-filled syringe. The once in a month option was approved by the FDA in July 2016.

 
• Valeant Pharmaceuticals ($VRX) reported its new three-year collaboration with Biovitrum for the distribution of Ammonul (sodium phenyl acetate a sodium benzoate) injection in Europe, the Middle East and North Africa. Swedish Orphan Biovitrum will have exclusive rights in the three regions through 2019 for named patient use programs (pre-approval access scheme). The deal replaces the current distribution agreement of Swedish Orphan Biovitrum with Valeant Pharmaceuticals North America LLC for the same territory. Ammonul is approved in the U.S. for the treatment of acute urea cycle disorders.
• AstraZeneca ($AZN) announced inking a new deal with TerSera Therapeutics LLC for the U.S. and Canadian commercial rights to Zoladex (goserelin acetate implant), an injectable luteinizing hormone agonist used to treat prostate cancer, breast cancer and certain gynecological disorders. The terms of the deal provide for AstraZeneca receiving $250 million at closing, milestones up to $70 million and quarterly royalties. The company will manufacture and supply the product to TerSera.

 
• MediWound ($MDWD) announced its fourth quarter result as its revenue grew 33 percent during the quarter. The company’s revenue for the quarter stood at $0.4 million. It also announced final results of the Phase 2 clinical trial of EscharEx® for the debridement of chronic and hard-to-heal wounds during the quarter. The results supported the previously reported positive top-line results.
• Exactech Inc. ($EXAC) reported that its revenue for 2016 increased 7% to $257.6 million from $241.8 million in 2015. Its diluted earnings per share for the year was $0.01 based on net income of $0.2 million, including the impact of $1.17 in earnings per share charges related to impairment, restructuring and tax valuation allowances, compared to 2015 net income of $14.8 million and diluted earnings per share of $1.04.

Brokerage Action Company Rating Price Target
Cann Reiterates Amgen (AMGN)
Outperform
BTIG Research Downgrades Entellus Medical (ENTL)
Buy -> Neutral
Mizuho Reiterates Horizon Pharma PLC (HZNP)
Buy $25.00
Wells Fargo & Company Initiates Juno Therapeutics (JUNO)
Outperform -> Positive
Wells Fargo & Company Initiates Kite Pharma (KITE)
Outperform
Needham & Company LLC Lowers Target Sarepta Therapeutics (SRPT)
$78.00
BMO Capital Markets Reiterates Wright Medical Group (WMGI)
Buy $31.00

Gainers (% price change) Last Trade Change Mkt Cap
Community Health Systems
CYH (NYSE)
9.23 +2.33 (33.77%) 1.02B
Vermillion, Inc.
VRML (NASDAQ)
2.07 +0.32 (18.29%) 113.38M
Insys Therapeutics Inc
INSY (NASDAQ)
12.65 +1.55 (13.96%) 938.32M
EXACT Sciences Corp.
EXAS (NASDAQ)
22.41 +2.50 (12.56%) 2.40B
Tenet Healthcare Corp
THC (NYSE)
20.80 +1.42 (7.35%) 2.06B
Losers (% price change)
Momenta Pharmaceuticals
MNTA (NASDAQ)
16.05 -2.95 (-15.53%) 1.14B
Albany Molecular Research
AMRI (NASDAQ)
16.39 -2.22 (-11.93%) 700.72M
Cytokinetics, Inc.
CYTK (NASDAQ)
10.40 -0.85 (-7.56%) 419.51M
BioCryst Pharmaceuticals
BCRX (NASDAQ)
6.10 -0.46 (-7.01%) 448.56M
CTI BioPharma Corp
CTIC (NASDAQ)
4.46 -0.27 (-5.71%) 125.64M
Most Actives (dollar volume)
Bristol-Myers Squibb Co
BMY (NYSE)
54.78 +0.19 (0.35%) 92.07B
Johnson & Johnson
JNJ (NYSE)
119.66 +0.80 (0.67%) 327.69B
Teva Pharmaceutical
TEVA (NYSE)
36.65 +1.44 (4.09%) 38.78B
UnitedHealth Group Inc
UNH (NYSE)
160.57 +2.97 (1.88%) 147.10B
Pfizer Inc.
PFE (NYSE)
33.62 -0.01 (-0.03%) 204.02B
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