S&P 500
7,401.00
+0.91%
Dow Jones
49,665.70
+0.19%
Nasdaq 100
29,241.00
+2.43%
Russell 2000
2,860.88
+0.82%
FTSE 100
10,263.70
+0.48%
Nikkei 225
63,767.70
+2.68%

Health and Healthcare

Genentech 4th Quarter Report Kickstarts Biotech Rally

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

From BioHealth Investor

by H.S. Ayoub
BioHealth Investor.com

Biotech stocks had a great day Thursday as both the Nasdaq (^NBI) and the Amex (^BTK) biotechnology indices were higher by more than 1% each.

Genentech (DNA) lead the broad biotech rally, gaining more than 4%, as the company released impressive 4th quarter numbers. Earnings were $0.61 a share excluding items, on revenue of $2.7 billion. Consensus estimates called for $0.56 a share on revenue of $2.55 billion.

Companies that do business with Genentech also gained on the day. PDL BioPharma (PDLI) receives loyalty payments from the sale of Herceptin and Avastin, Genentech’s leading cancer drugs. OSI Pharmaceuticals (OSIP) and Genentech co-market the oncology drug Tarceva. Both companies gained 2% and 5% respectively.

Healthcare Technologies Ltd. (HCTL) of Israel gained more than 22% during regular trading hours, and another 6% in after hours, following the announcement that the company’s stock has met compliance with the Nasdaq and will continue to list on the stock exchange. The diagnostic test kits maker scrapped plans for a reverse split after it had meet the requirement for the stock to trade above $1 for 10 consecutive days.

Canadian drug maker Aspreva Pharmaceuticals (ASPV) gained more than 4% after the company released better than expected preliminary fiscal year revenue numbers. Annual revenue reached $215 million while analysts were expecting $212.6 million. The company will release its annual report on February 7.

http://www.biohealthinvestor.com/

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Douglas A. McIntyre |

Biotech Indices Mixed as AMEX Gains, Nasdaq Slips

From BioHealth Investor by H.S. AyoubBioHealth Investor.com The major biotech indices were mixed on Monday. The AMEX Biotechnology Index (^BTK)…

Douglas A. McIntyre |

Genentech to Set Biotech Tone For Earnings Season (DNA, OSIP, SGEN, ABT, BIIB)

Thursday after the close, we’ll get to see earnings out of Genentech (NASDAQ: DNA). The estimates from First Call are…

Jon C. Ogg |

5 Critical Biotech Drug Dates and Events for December

At least five upcoming dates could be big days in December, for better or worse, for individual biotech stocks.

10 Speculative Biotech and Biohealth Stocks With Massive Analyst Upside Calls
Jon C. Ogg |

10 Speculative Biotech and Biohealth Stocks With Massive Analyst Upside Calls

Biotech is the one arena that still offers massive upside for investors — if they can pick the right companies…

Jon C. Ogg |

Tracking Dividends in Biotech: Who Follows Amgen in Payouts? (AMGN, PFE, MRK, BIIB, CELG, ALXN, CBST, PDLI, REGN, VRTX)

For several years it has been the case that Amgen Inc. (NASDAQ: AMGN) was considered a biotech though it had at…

8 Speculative Biotech and Biohealth Stocks With Major Analyst Upside Calls
Jon C. Ogg |

8 Speculative Biotech and Biohealth Stocks With Major Analyst Upside Calls

Here are seven speculative biotech and biohealth players in which analyst calls during the week ending May 27 have given…

Why Value Investors May Flock to Top Biotechs in 2019
Jon C. Ogg |

Why Value Investors May Flock to Top Biotechs in 2019

Here is a review of the outlook and expectations for 2019 in seven top biotechs valued at $20 billion or…

Lee Jackson |

5 Orphan Drug Biotech Stocks to Buy With Big Upside Potential

For many of the top biotech companies, orphan drugs have morphed into huge winners and have even generated other streams…

Jon C. Ogg |

How Overvalued Are the Biggest Biotechs? (AMGN, BIIB, GILD, ALXN)

The largest biotech stocks have been great performers in 2012. The question is whether that can be sustained in 2013.…

Top Gaining Stocks

Akamai
AKAM • Vol: 21,556,944
Micron Technology
MU • Vol: 65,135,624
Intel
INTC • Vol: 227,504,426
Monster Beverage
MNST • Vol: 15,284,847
Dell Technologies
DELL • Vol: 12,167,525

Top Losing Stocks

Mettler Toledo International
MTD • Vol: 539,266
Motorola Solutions
MSI • Vol: 3,101,643
Expedia
EXPE • Vol: 4,189,786
Coterra Energy
CTRA • Vol: 73,319,495
Fidelity National Information Services
FIS • Vol: 11,468,820