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Cutera Inc. ($CUTR) reported its fourth quarter and full financial year results. The company reported 26 percent increase in its revenue for the fourth quarter to a record $37.9 million, due primarily to a 45% growth in North American product revenue. This is the tenth consecutive quarter of double-digit revenue growth. For the full year of 2016, the revenue increased 25 percent to a record $118.1 million. The company earned $0.30 EPS and incurred $4.7 million of operating cash flow in the fourth quarter.
The company recently received 510(k) clearance from the Food and Drug Administration (FDA) to market its RF energy-based truSculptTM system for the temporary reduction in circumference of the abdomen. Cutera stock is up 12 percent on YTD basis while its 12 months gain stands at 80 percent.

Zeltiq Aesthetics Inc. ($ZLTQ) stock jumped over 13 percent on the new of its proposed acquisition by Allergan. The deal is expected to be worth $2.4 billion. The purchase is expected to be completed by the latter half of the year. Allergan plans to integrate ZELTIQ’s best-in-class body contouring business with their facial aesthetics, plastic surgery and regenerative medicine business. Zeltiq Aesthetics is medical technology company, focuses on commercializing their proprietary controlled-cooling technology.
Zeltiq Aesthetics stock is now up 28 percent on Year to Date basis while its 12 months gain stands at over 190 percent. The deal priced Zeltiq Aesthetics stock at $56.50 per share, or a premium of 14.4 percent to the company's Friday close.

 

• Illumine ($ILMN) reported that it expects to begin shipments of its NovaSeq S1 and S4 flow cells in the third quarter of this year. Shipment of the NovaSeq 5000 System and S3 flow cells is expected to commence in early 2018. Shipments of the NovaSeq 6000 and S2 flow cells should begin next month. The announcements were made in a regulatory filing.
• Transenterix Inc. ($TRXC) announced the first clinical use of the Senhance Robotic Surgical System in France as part of its Clinical Leadership Program. The case related to a hysterectomy for endometrial cancer with pelvic lymphadenectomy. It was performed on February 7, 2017.

• MabVax Therapeutics Holdings ($MBVX) announced that its results from a preclinical study assessing HuMab-5B1 antibody MVT-5873, combined with Halozyme Therapeutics' ($HALO) PEGPH20, in an animal model of pancreatic cancer. The trial showed an improvement in accumulation of MVT-5873 on tumors when administered in sequence with PEGPH20.
• Incyte ($INCY) announced that the European Commission has approved Olumiant (baricitinib) for the treatment of moderately-to-severely active rheumatoid arthritis (RA) in adult patients who have failed to respond adequately to or are intolerant of disease-modifying antirheumatic drugs. The drug is being developed with Eli Lilly (NYSE:LLY) under a 2009 exclusive global license and collaboration agreement. The approval triggers a $65M milestone payment to Incyte from Eli Lilly.

 
• Emergent BioSolutions ($EBS) announced that it has received a task order from the U.S. Department of Health and Human Services' Biomedical Advanced Research and Development Authority. The task order has 36 months duration. It is the fourth task order awarded to the company. The base value is $7.4 million, with a maximum value of $30.5 million if BARDA exercises all options.
• Signal Genetics ($SGNL) announced that it all Miragen merger-related proposals were approved by stockholders at Friday's special meeting. Miragen stockholders will receive approximately 0.7031 of a share of Signal for each Miragen share owned. Miragen is expected to receive gross proceeds of $40.7 million from investors, increasing the cash balance for the combined firm to nearly $61.7M. The proposals included the issuance of common stock, the change in name to Miragen Therapeutics and the change in control. It also entails a 1:15 reverse stock split, the sale of MyPRS assets to Quest Diagnostics and an increase in the number of authorized shared of Signal common to 100 million from 50 million.

 
• Bruker Corporation ($BRKR) announced its results for the fourth quarter and full financial year. The company’s revenues for the fourth quarter of 2016 were $470.3 million, a decline of 1.6% compared to the fourth quarter of 2015. Bruker reported a year-over-year organic revenue decline of 2.2% in the fourth quarter of 2016. For the year 2016, Bruker's revenues declined 0.8% to $1,611.3 million, compared to $1,623.8 million for the year 2015. The company’s fourth quarter 2016 GAAP earnings per diluted share (EPS) were $0.43, compared to $0.36 in the fourth quarter of 2015. Fourth quarter 2016 non-GAAP EPS were $0.46, compared to $0.38 in the fourth quarter of 2015.
• Nivalis Therapeutics ($NVLS) reported a net loss of $7.7 million, or ($0.50) per share, compared to a net loss of $6.6 million, or ($0.42) per share, for the fourth quarter of the prior fiscal year. Cash used in operating activities was $5.2 million during the fourth quarter of 2016. The company reported a net loss of $31.5 million compared to a net loss of $22.8 million for the prior fiscal year. Nivalis incurred $26.3 million in operating activities for the twelve months ended December 31, 2016.

• Vertex Pharmaceuticals ($VRTX) receives Hold rating from Cowen & Co. The price target for the stock has been set at $75.

• Anthem Inc. ($ANTM) receives Buy rating from RBC Capital. The price target for the stock has been set at $179.

Brokerage Action Company Rating Price Target
Credit Suisse Group Reiterates Allergan PLC. (AGN)
Buy $274.00
Mizuho Downgrades Depomed (DEPO)
Neutral

Gainers (% price change) Last Trade Change Mkt Cap
Zeltiq Aesthetics Inc
ZLTQ (NASDAQ)
55.93 +6.53 (13.22%) 2.35B
Geron Corporation
GERN (NASDAQ)
2.36 +0.18 (8.26%) 380.82M
Myriad Genetics, Inc.
MYGN (NASDAQ)
16.98 +0.99 (6.19%) 1.15B
Teva Pharmaceutical
TEVA (NYSE)
34.00 +1.81 (5.62%) 34.71B
Infinity Pharmaceuticals
INFI (NASDAQ)
2.58 +0.13 (5.31%) 130.98M
Losers (% price change)
Cynosure, Inc.
CYNO (NASDAQ)
51.50 -3.55 (-6.45%) 1.24B
Neurocrine Biosciences
NBIX (NASDAQ)
42.14 -2.30 (-5.18%) 3.59B
Lexicon Pharmaceuticals
LXRX (NASDAQ)
14.49 -0.77 (-5.05%) 1.53B
Rigel Pharmaceuticals
RIGL (NASDAQ)
2.39 -0.12 (-4.78%) 285.33M
ImmunoGen, Inc.
IMGN (NASDAQ)
2.37 -0.10 (-4.05%) 207.75M
Most Actives (dollar volume)
Zeltiq Aesthetics Inc
ZLTQ (NASDAQ)
55.93 +6.53 (13.22%) 2.35B
Gilead Sciences, Inc.
GILD (NASDAQ)
67.65 +1.29 (1.94%) 90.17B
Teva Pharmaceutical
TEVA (NYSE)
34.00 +1.81 (5.62%) 34.71B
Pfizer Inc.
PFE (NYSE)
32.61 +0.26 (0.80%) 197.71B
Johnson & Johnson
JNJ (NYSE)
115.88 +0.64 (0.56%) 318.46B