Shares of highly rated drugmakers Celgene (CELG), Lannett (LCI) and Akorn (AKRX) rose Monday, while a pair of small drug companies plunged on negative reports. Celgene and its partner Acceleron Pharma (XLRN) said the Food and Drug Administration granted fast-track designation to luspatercept to treat patients who have the blood disease beta thalassemia as a result of transfusions or other causes. The FDA’s fast-track status allows a company to
Shares of generic drugmaker Lannett (LCI) climbed 7% on the stock market today, clearing a cup base buy point. Industry group peer Akorn (AKRX) cleared an area of consolidation earlier this month. For details on Lannett’s buy range, and other information about this top-rated stock, make sure to check out this video. Follow Alissa Williams on Twitter: @IBD_AWilliams.
Generic drugmaker Lannett Co. (LCI) issued preliminary fiscal Q2 earnings Monday that beat expectations, sending its stock up. Lannett said sales for the quarter were about $115 million, nearly double the year-earlier number and well above analysts’ consensus of $97.5 million, according to Thomson Reuters. It expects per-share earnings of $1.18-$1.21, up from 46 cents the prior year and beating analysts’ 92 cents. The company is scheduled to