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Abivax ($AAVXF) stock soared as the company announced Phase IIa results for its ABX464. The test results showed that the drug candidate has potential to become a “key functional cure element” for HIV.  Amongs evaluable patients (4 placebo and 14 ABX464-treated patients), a reduction in viral DNA copies/mPBMCs was observed in 7/14 treated patients (mean change of -40%, ranging from -27% to -67%) and no responders were observed in the placebo group.  ABX464 was well tolerated and there were no severe adverse events in the treatment group.
The company stock gained over 137 percent in its previous trading session and touched its 52 weeks high of $27.50. Abivax stock is up 205 percent in the past 12 months.

Pieris Pharmaceuticals ($PIRS) reported inking a new with AstraZeneca ($AZN). Both the companies will collaborate to develop inhaled drugs which may be used for fighting asthma in novel ways. Under the terms of the agreement, PIRS is entitled to receive $57.5 million in upfront and near-term milestone payments. The payments are tied to its phase 1 trial of its lead pre-clinical drug, PRS-060. The trial is expected to begin this ear. It will also be entitled to as much as $2.1 billion, if the experimental drugs go on to become commercially successful.
AstraZeneca will be responsible for funding all clinical development and commercialization programs for PRS-060, and PIRS has the option of co-development and co-commercialization in the U.S. starting at phase 2a. Pieris stock jumped 39 percent in the pre-market session.

 

Perrigo ($PRGO) reported that its offices has been searched by investigators conducting a federal probe on price collusion. In a statement, the company said, “The company is taking this investigation seriously and is cooperating with the appropriate authorities.”

Molina Healthcare ($MOH) announced that it has removed its CEO Mario Molina and Chief Financial officer John Molina, effective immediately. The company made the moves due to "disappointing financial performance." Joseph White, the company's chief accounting officer, will be interim president and CEO while the board searches for a permanent replacement. He'll also serve as chief financial officer. Mario Molina and John Molina will remain on the board, though.

 

Gilead Sciences Inc. ($GILD) announced its first quarter adjusted income at $2.9 billion or $2.23 per share vs. $4.3B and $3.03 one year ago. Estimates were for $2.28. its revenue of $6.51 billion fell short of estimates of $6.63 billion. The company reiterated its full year revenue guidance in the range of $22.5 billion and $24.5 billion.

WellCare Health Plans Inc. ($WCG) announced profit of $1.50 per share. Its Earnings, adjusted for non-recurring costs, came to $1.61 per share. The company posted revenue of $3.95 billion in the period. WellCare expects full-year earnings in the range of $6.55 to $6.80 per share.

Novo Nordisk ($NVO) announced better than expected results for its first quarter. The company’s income for the quarter stood at $1.46 billion. Its EPS stood at $0.58, beating consensus estimate of $0.53 in EPS. The company’s revenue for the quarter was posted at $4.08 billion.

Brokerage
Action
Company
Rating
Price Target
Impact on Share Price
Mizuho
Upgrades
Amedisys (AMED)
Neutral -> Buy
$65.00
Low
Benchmark
Reiterates
Amedisys (AMED)
Hold -> Hold
$50.00 -> $57.00
N/A
JPMorgan Chase & Co.
Upgrades
Array Biopharma (ARRY)
Neutral -> Overweight

High
BMO Capital Markets
Downgrades
Bristol-Myers Squibb Co (BMY)
Market Perform -> Underperform
$47.00
Low
BTIG Research
Downgrades
DexCom (DXCM)
Buy -> Neutral

Low
Ladenburg Thalmann Financial Services
Initiates
EnteroMedics (ETRM)
Buy
$11.00
High
Raymond James Financial
Reiterates
Genomic Health (GHDX)
Outperform -> Market Perform

Low
BMO Capital Markets
Reiterates
Gilead Sciences (GILD)
Hold
$76.00
Low
Maxim Group
Reiterates
Gilead Sciences (GILD)
Hold

Low
Wells Fargo & Co
Downgrades
INC Research Holdings (INCR)
Outperform -> Market Perform

Low

Gainers (% price change)Last TradeChangeMkt CapTenet Healthcare CorpTHC18.66+3.31 (21.56%)1.83BCommunity Health SystemsCYH10.32+1.70 (19.72%)1.18BMolina Healthcare, Inc.MOH59.75+8.94 (17.59%)3.48BMomenta PharmaceuticalsMNTA15.75+1.05 (7.14%)1.20BLuminex CorporationLMNX20.23+1.30 (6.87%)893.59MLosers (% price change)II-VI, Inc.IIVI28.55-5.55 (-16.28%)1.83BArray Biopharma IncARRY7.36-1.40 (-15.98%)1.26BHeska CorpHSKA94.58-15.66 (-14.21%)681.56MAMAG Pharmaceuticals, IncAMAG21.45-3.20 (-12.98%)746.42MCorcept Therapeutics Inc.CORT9.07-0.60 (-6.20%)1.04BMost Actives (dollar volume)Pfizer Inc.PFE33.61-0.19 (-0.56%)199.33BBristol-Myers Squibb CoBMY55.95-0.38 (-0.67%)92.60BUnitedHealth Group IncUNH174.14-0.45 (-0.26%)167.61BMerck & Co., Inc.MRK62.70+0.31 (0.50%)172.03BGilead Sciences, Inc.GILD68.59+0.48 (0.70%)89.09B