Biogen ENTERS into Research Collaboration and 4 Stocks Hitting 52-Week Highs
Abbott Laboratories (NYSE:ABT) is expected to report Q2 earnings before the Wednesday, July 18 market open with a 9:00 am ET conference call. Analysts look for $1.22 EPS, on a revenue totaling $9.84 billion. The range for consensus is $1.20-$1.23 for EPS, and $9.68 billion to $10.04 billion for revenue, states First Call. Following its report of better-than-expected EPS and revenue for Q1, the company announced a full-year EPS guidance of $5.00-$5.10, stating that it predicts the splint into two publicly traded companies will be finished by the year’s end. Investors will seek more updates on the intended split and its timeline. Previously, Abbott gained FDA approval for its Healon EndoCoat gel and FDA clearance for its iFS Advanced Femtosecond Laser. Also, there have been positive results for its hepatitis C treatment and rheumatoid arthritis treatment. Earlier this quarter, RBC Capital claimed that shares of Abbott should be bought on weakness. Most analysts keep the company at a Hold rating. The shares closed at $66.46, up $0.98 or 1.5% on the day. They have traded in a 52-week range of $46.29 to $66.30.
American Capital Age (NASDAQ:AGNC): There was a huge decline in interest rates during the quarter which ended June 30, 2012. The result is the prices of agency mortgage backed securities have generally risen in Q2. Because of the increase in agency mortgage backed securities held in the investment portfolio of the company compared the decrease in hedge value, the company predicts that its net book balue per common share show a $29.35 per share increase as of June 30, 2012, and $29.06 per share as of March 31, 2012. The shares closed at $35.29, up $0.21 or 0.6% on the day. They have traded in a 52-week range of $22.03 to $35.19.
Amerigroup Corp. (NYSE:AGP): According to Moody’s, the Supreme Court decision is bad for health insurers since harsher restrictions and regulations are going to limit profitability. For-profit hospitals will see credit have neutral or slightly positive effects, adds the rating agency, and the ruling is credit neutral for all not-for-profit hospitals. Moody thinks that the new Supreme Court ruling will have various healthcare industry effects. The shares closed at $90.01, up $0.01 or 0.01% on the day. They have traded in a 52-week range of $37.57 to $90.05.
Alnylam Pharmaceutic (NASDAQ:ALNY): A periodic updated has been given to Tekmira Pharmaceuticals shareholders regarding the continuing litigation with both Alnylam Pharmaceuticals and AlCana Technologies, Inc. Tekmira President and CEO Dr. Mark J. Murray stated, “We remain strongly committed to our fundamental goal when we filed this law suit which is to regain control of our LNP technology and preserve its full value for Tekmira shareholders. We continue to meet milestones and make progress towards this goal in the Massachusetts Superior Court.” The litigation timeling is still on track with an October 30, 2012 trial date in the Massachusetts Superior Court. The shares closed at $18.64, down $0.52 or 2.71% on the day. They have traded in a 52-week range of $5.88 to $19.26.
Biogen Idec Inc (NASDAQ:BIIB) has entered into a research collaboration with the best academic and research institutions to sequence the genomes of as many as 1,000 patients who suffer from amytroic lateral sclerosis in order to more deeply understands the fundamental genetic causes of ALS. Under the agreement, Biogen will pay fro the project at the laboratories of Duke University’s Director of the Center for Human Genome University, David Goldstein, Ph.D, and the HundsonAlpha Institute for Biotechnology’s President and Director, Richard M. Myers, Ph.D. Over the next two years, the researchers are expeted to sequence the genomes of nearly 500 patients, and the ultimate goal is to sequence the genomes of 1,000 ALS patients before the conclusion of 5 years. The shares closed at $145.91, up $0.69 or 0.48% on the day. They have traded in a 52-week range of $83.83 to $145.73.
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