Healthcare Business Recap: Genetic Tech POPS, Dendreon PERSEVERES

Shares of Australian diagnostic firm Genetic Technologies Ltd. (NASDAQ:GENE) gained one fourth of their value on the day, on word that Australian investment bank Lodge Partner began the shares with a Buy plus a price target of $17. Genetic explained that its top diagnostic product BREVAGen, is regaining its momentum, pointing out that second half sales jumped by 230 percent over the first half, and also that it thinks that trend should continue.

Don’t Miss: New York Attacks More Consumer Drinks.

Dendreon Corporation’s (NASDAQ:DNDN) Provenge might have lost a scrimmage in its battle with Zytiga, but Baird thinks the war is not yet over, noting that while Zytiga still takes share, its momentum is stalling. Currently some 20 percent of physicians indicate Zytiga use over Provenge but this figure is down from earlier readings of 31 percent, and, some 72 percent of doctors indicate no change, which is up from the prior 63 percent.

Shares of Galectin Therapeutics, Inc. (GALT) tumble on word that Harold H. Shlevin is named the firm’s new chief operations officer, effective October 1, 2012. Shlevin replaces Maureen Foley, who was one of the company’s co-founders, and served in that position and corporate secretary as well.

Observers wonder how the shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) seem oblivious in the face of the FDA’s rejection of Ridaforolimus back in March. Seeking Alpha contributor Longwood Bulls thinks that Ponatinib, its treatment for patients suffering from resistant or intolerant Leukemia, is outpacing and competing drug in the sector, and is thus making up for Ridaforolimus’ failure.

Don’t Miss: New York Attacks More Consumer Drinks.

Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.