10:37 SUMRX Sector Summary: The Healthcare sector (-0.3%) is trading lower today, outperforming the S&P 500 (-0.6%) General Commentary: Enanta Pharmaceuticals (ENTA) IPO prices at $14, low end of range; development stage biotech company with a focus on hepatitis C- Now trading at $16
Gainers on news: Anacor Pharma (ANAC +6.00%) announces positive results from Phase 2 dose-ranging study of AN2728 in adolescents with atopic dermatitis Ohr Pharma (OHRP +1.9%) announces results from OHR/AVR118 Phase II trial in cancer cachexia; primary trial end point of weight gain was not achieved; demonstrated weight maintenance and increase in patient appetite and quality of life AstraZeneca (AZN +1.7%) and Moderna Therapeutics announced exclusive agreement to develop messenger RNA Therapeutics in cardiometabolic diseases and cancer Threshold Pharma (THLD +0.8%) announces acquisition of investigational hypoxia PET imaging agent [18F]HX4 from Siemens (SI) Intuitive Surgical (ISRG +0.7%) announced earlier its board has authorized the co to repurchase an additional $1 bln of the co's outstanding common stock- mentioned positively at Raymond James UnitedHealth (UNH +0.3%) begins tender offer for remaining Amil shares- companies have begun the final phase of the steps required to complete their combination Decliners on news: Cytokinetics (CYTK -1.9%) presents Phase IIA clinical trial data of Tirasemtiv in patients with myasthenia gravis Gainers on earnings: No notable gainers on earnings
Decliners on earnings: No notable decliners on earnings
Upgrades/Downgrades/Initiations: Cleveland Biolabs (CBLI +7.26%) Initiated with a Buy at Cantor Fitzgerald- believe the shares could trade to a valuation that approaches biodefense peers, leaving upside from the pipeline. They highlight the co has requested funding based on progress in satisfying FDA preclinical requirements, and a decision could be known by the end of April. Cempra (CEMP +1.34%) initiated with a Buy at Sun Trust Rbsn Humphrey and Ladenburg Thalmann- Ladenburg's optimistic investment thesis is based on their confidence for positive solithromycin Phase 3 data in 1H14 and for positive interim top line Phase 2 data for Taksta in 4Q13 Obagi Medical (OMPI +0.2%) downgraded to Hold at Cantor Fitzgerald following purchase by Valeant Pharma (VRX +0.1%); they believe that the deal has been shopped around and they are not expecting any competing bids
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