3 Healthcare Stock Stories For a Midweek Investment Checkup

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Vivus, Inc. (NASDAQ:VVUS): Closing price $14.56

On Wednesday, Vivus reported that its most recent proposed resolution offer to First Manhattan Co. was immediately turned down. The proposal included equal representation from both parties, four from each side and one independent investor representative. The four Vivus nominees proposed were the four most recently appointed directors, and included the three recommended by ISS and a new chief executive. The proposal also included an offer from Vivus Chief Executive Leland Wilson to resign from the board and to retire as CEO when the board has appointed a replacement. Wilson would also be willing to offer his services as a senior advisor to the board and to the company to ensure a seamless transition following his retirement.

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VVUS

Medivation, Inc. (NASDAQ: MDVN): Closing price $56.46

Shares were upgraded at UBS from Neutral to Buy, along with a price target of $74, up from $59. Analyst Matthew Roden anticipates positive results from Medivation’s PREVAIL phase-3 study, and commented that ”Despite our favorable view on the ph3 PREVAIL study (data 2H13e), we initiated Neutral on MDVN last December because we felt the risk-reward was balanced ahead of the hormonenaïve data and Xtandi quarterly prints. Our updated analysis suggests that despite availability of Zytiga and Xtandi for some patients after progression (the principal risk to a survival [OS] benefit, in our view), the data will suggest a greater magnitude of OS benefit than Zytiga (the principal debate).”

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MDVN

Elan Corporation (NYSE:ELN): Closing price $14.11

Elan said Wednesday that the FDA has granted Fast Track Designation to its development program for ELND005, which was submitted for the treatment of Neuropsychiatric Symptoms in Alzheimers disease. The agency decided that the development program for ELND005, for the treatment of NPS in AD, meets their criteria for Fast Track Designation. Elan’s ongoing ELND005 clinical program includes the Phase 2 Study AG201 in patients suffering with AD, who are experiencing at least moderate levels of agitation/aggression and the safety extension Study AG251.

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ELN

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