CORAL GABLES, FL / ACCESSWIRE / November 19, 2018 / Healthcare stocks have rallied during the last 3 trading sessions. The Select Sector SPDR Healthcare ETF (XLV) has climbed from lows of $88.83 on Thursday to as high as $92.48. On Friday, the market powered higher, lead by healthcare stocks. Furthermore, the idea that a split congress could be a good thing for healthcare stocks is offering a brighter outlook for some investors to look closer at several smaller healthcare companies that could be set to rebound.
Investors have been less optimistic on tech stocks and more favorable to the healthcare sector. So as popularity continues to rise, here are 4 healthcare stocks that investors may be taking a closer look at heading into the holiday week: Premier Health Group, Inc. (OTC:PHGRF) (CSE:PHGI), Lannett Company, Inc. (LCI), Aeterna Zentaris Inc. (AEZS) and Imprimis Pharmaceuticals, Inc. (IMMY)
Premier Health Group, Inc. (OTC:PHGRF) (CSE:PHGI) is focused on developing innovative approaches that combine humanskill based expertise with emerging technologies for the healthcare industry. This month, Premier solidified its stance on the increasing opportunity that the legal marijuana industry has presented. Last week Premier Health announced that as a part of its expansion plans, Premier Health will enter the Cannabis clinic space by a series of acquisitions, partnerships and/or launching a new Canada -based chain in the first half of 2019.
"The role of Cannabis in treating medical conditions is continuously expanding. Our doctors have had success treating their patients with various ailments from chronic pain to cancer related symptoms. Unfortunately, there is a gap between the patient's need for medical marijuana, and the family doctor's comfort and knowledge to prescribe it. We are looking to fill that gap with various forms of clinics and services to help our patients and healthcare workers," said Dr. Essam Hamza , Chief Executive Officer of Premier Health.
The Canadian medical cannabis clinic market is estimated to be worth approximately $2.35 billion by 2025. With this in mind, the company said that it expects to provide additional updates on acquisitions in Q4-18 and Q1-19. Shares of Premier Health hit highs of CAD$0.84 on Friday.
Lannett Company, Inc. (LCI) announced earlier this month that it has entered into an agreement with Amneal Pharmaceuticals, Inc. with regard to Levothyroxine Sodium Tablets USP. Under the agreement, Amneal will be Lannett's sole customer for Levothyroxine Sodium beginning December 1,2018 through March 23, 2019, and will re-sell the products to its customers. Lannett will receive an upfront payment of $50 million, their terms of the transaction were not disclosed.
"This agreement benefits all parties, including and importantly patients and customers who can be assured of a definitive transition and supply plan for this important medication," said Tim Crew, chief executive officer of Lannett. "For Lannett, this transaction guarantees $50 million of gross profit, which exceeded our previous projections for the 16 week period."
Shares of LCI hit highs of $6.37 during premarket trading on Monday.
Imprimis Pharmaceuticals, Inc. (IMMY) saw its shares rise on Monday morning. The company owns a diversified portfolio of healthcare businesses, including the nation's leading ophthalmology pharmaceutical compounding business, ImprimisR. The company recorded a revenue increase of 66% year-over-year to $10.7 million. Gross margin also increased to 61% from 48% in the third quarter 2017
Mark L. Baum, CEO of Imprimis, commented, "Despite nearly $600,000 in one-time investments for costs incurred by our subsidiary Melt Pharmaceuticals, Inc. and litigation, we continued to deliver positive adjusted earnings. This quarter showed strong performance, including record revenues and gross margins, increasing cash balances and an outlook of continued revenue growth from our core operating business. Importantly, now that we are past the typically weak third calendar quarter, we are seeing our positive momentum continue into the fourth quarter in several critical ways we will comment on during our conference call."
On Friday, shares of Imprimis hit highs of $5.79 and closed at $5.29.
Aeterna Zentaris Inc. (AEZS) shares climbed Friday afternoon to reach highs of $2.94. Aeterna is a biopharmaceutical company engaged in developing and commercializing pharmaceutical products. This month the company reported financial and operating results for the third quarter ended September 30, 2018.
Among key highlights, Aeterna pointed out that the Company's financial condition remains strong with $16.8 million of cash and cash equivalents and no debt. The company is focused on developing and commercializing, principally through out-licensing arrangements, Macrilen™ (macimorelin), an oral ghrelin receptor agonist, to be administered in the diagnosis of patients with adult growth hormone deficiency. Aeterna Zentaris has licensed Macrilen™ (macimorelin) to Strongbridge Biopharma plc in the United States and Canada.
Today Aeterna announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency has adopted a positive opinion recommending a marketing authorization for macimorelin, an orally available ghrelin agonist, for diagnosis of adult growth hormone deficiency. The recommendation will now be reviewed by the European Commission.
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