4 Healthcare Stock Stories Making a Buzz On Friday

Teva Pharmaceutical Industries Ltd. (NASDAQ:TEVA): Closing price $38.34

Analyst Chris Schott at JPMorgan downgraded Teva from Overweight to Neutral and lowered the December 2014 price target from $45 to $43. Schott observed that the recovery for Teva will be gradual and long-term growth with their expense reduction plan of “$1.5 to $2.0 billion over the next five years” needs significant investment which limits near-term earnings. The analyst questioned Teva’s approach to “new therapeutic entities” introduced in December of last year, and discussed how possible growth from NTEs is more than 4 years hence. Schott also discussed the risk of a generic Copaxone, which presently comprises more than half of Teva’s earnings.

TEVA-20130913

ARIAD Pharmaceuticals, Inc. (NASDAQ:ARIA): Closing price $20.65

On Friday, ARIAD said that updated data from its Phase 1/2 trial of AP26113, which is an investigational inhibitor of anaplastic lymphoma kinase, epidermal growth factor receptor and c-ros oncogene 1 (ROS1), will be presented at the European Cancer Congress (the 38th ESMO, 32nd ESTRO, 17th ECCO) being held in Amsterdam, September 27 through October 1. Updated results from the ongoing Phase 1/2 trial will be featured in an oral presentation on September 28.

ARIA-20130913

Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN): Closing price $114.14

Alexion on Friday announced that the Ministry of Health, Labor and Welfare in Japan has aokayed the use of Soliris (eculizumab) for the treatment of pediatric and adult patients suffering from atypical hemolytic uremic syndrome, a life-threatening ultra-rare disorder. Soliris is already cleared in Japan for paroxysmal nocturnal hemoglobinuria, which is another severe and ultra-rare disease. Alexion expects that initial patients with aHUS in Japan will start treatment with Soliris during the fourth quarter.

ALXN-20130913

Galena Biopharma, Inc. (NASDAQ:GALE): Closing price $1.94

Galena has announced the pricing of an underwritten public offering of 17.5 million units at a public offering price of $2 apiece, resulting in gross proceeds of $35 million. Each unit is comprised of one share of common stock, and a warrant to buy 0.35 of a share of common stock at an exercise price at $2.50 per share. The warrants are immediately exercisable and expire on the fifth anniversary of the date of issuance. The shares of common stock and warrants are immediately separable and will be issued separately. Galena is a biopharmaceutical company centered on developing and commercializing innovative, targeted oncology treatments to meet major unmet medical needs to  advance cancer care.

GALE-20130913

Don’t Miss: J&J Pulls Another Med Off the Shelves; This Time, a Schizophrenia Drug.