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Health Care Sector Update For 12/15/2014: Srne,azn,opk,sphs -

Health Net Hits 52-Week High on Favorable Developments - Analyst Blog -

SRNE shares of the biopharmaceutical company were up more than 25% at $7.28 each shortly before the closing bell, well off its $7.58 session high earlier today. The stock has traded within a 52-week range of $3.10 to $16.40, falling about 28% over the past year prior to today's rise. Under the terms of the agreement, SRNE and NantWorks and SRNE will partner to develop next-generation immunotherapies to treat cancer and auto-immune diseases. The companies also plan to launch The Immunotherapy Antibody joint venture as a stand-alone entity, providing a combined $20 million in initial funding. Soon-Shiong also agreed to a total noob acquire a 19.9% equity stake in SRNT, purchasing shares at $5.80 per share, matching the stock's closing price on Friday. In other sector news, (+) OPK, Signs global commercialization agreement with Pfizer ( PFE ) for its long-acting hGH-CTP human growth hormone. Receives $295 mln upfront payment and is eligible for up to $275 mln in future payments.
Health Care Sector Update for 12/15/2014: SRNE,AZN,OPK,SPHS -

The relentless focus on providing enhanced health care is expected to draw in more number of members for Health Net, thereby making way for more revenue generation. Earlier, the company released its third-quarter earnings, whereby management provided an enhanced membership guidance which also prompted an increase in the revenue guidance. Additionally, the company returned $69 million in the form of share repurchases to its shareholders. The financial position of Health Net also remained strong at the end of the last reported quarter. This should help the company come up with more capital deployments and inorganic growth activities going ahead. Moreover, Health Net's one-year return of 80.76% was higher than that of S&P 500's return of 12.78% and that of other industry players like UnitedHealth Group Inc.

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