Top Losers in Health Sector Today (VRTX, QCOR, GMED, LXRX)

New York, NY -- (SBWIRE) -- 11/02/2012 -- Vertex Pharmaceut (NasdaqNM:VRTX) reported EPS in 1.898. For the Current Fiscal year, the company is expected to report EPS of 0.60. For the Next Quarter and Next Year, the company is expected to report EPS of 0.14 and 0.79 respectively. At Current Market Price, VRTX is in distance of -20.70% from its 50-day Moving Average price of $55.7153 and -16.79% from its 200-day Moving Average price of $53.0974.Vertex Pharmaceuticals Inc. (VRTX) shares slip 7.3% to $46.80 premarket after the company reported weaker-than-expected third-quarter results. Citing the results and the recent NACFC conference, Goldman Sachs lowered its rating on the stock to sell from neutral. The investment bank said in a note to clients that it has a more cautious outlook on the company's key pipeline program and see a limited number of catalysts heading into 2013.

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Questcor is a pharmaceutical company that bought a drug developed in the 1950s from Aventis for $100,000. The drug was traditionally used to treat a rare condition, Infantile Spasms, also known as West Syndrome. Questcor obtained orphan drug status for their drug, which allowed it to raise the price from several thousand to several tens of thousands. It then began to market the drug for a variety of other uses, including as a second-line treatment for MS. In January of this year, the website StreetSweeper.com wrote a scathing expose on the company and raised numerous red flags. Then in July, noted short seller Andrew Left posted a negative research report on Questcor on his website CitronResearch.com. Both websites are widely followed on Wall Street. Shares of Questcor Pharmace (NasdaqNM:QCOR) are trading at $23.55 and is -9.84% of its 50-day Moving Average price of $26.1197 and -40.26% from its 200-day Moving Average price of $39.4181. The average trading volume is 5408310 shares and its market capitalization is $1.381B.

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Globus Medical Inc (GMED) announced the pricing of its Initial Public Offering of 8,333,333 shares of Class A common stock at a price of $12 per share, consisting of 2,083,333 shares offered by Globus Medical and 6,250,000 shares offered by selling stockholders. In addition, Globus Medical has granted the underwriters a 30-day option to purchase up to an additional 1,250,000 shares of common stock to cover any over-allotments. Closing of the offering is expected to occur on August 8, 2012, subject to customary closing conditions. The shares are expected to begin trading on the New York Stock Exchange under the symbol GMED. BofA Merrill Lynch, Goldman, Sachs & Co., and Piper Jaffray are acting as lead joint book-running managers for the offering, Leerink Swann is acting as a junior book-running manager for the offering, and Canaccord Genuity, William Blair, and Oppenheimer & Co. Inc. is acting as co-managers for the offering. Globus Medical (NASDAQ:GMED) released its earnings data on Thursday. The company reported $0.18 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.19 by $0.01. The company’s quarterly revenue was up 12.4% on a year-over-year basis.

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Lexicon Pharmaceuticals Inc (LXRX) announced that the pricing of a public offering of its common stock in which the aggregate net proceeds to Lexicon will be approximately $37.2 million. The public offering consists of 17,500,000 shares of its common stock at a public offering price of $2.25 per share. The lexicon has also granted the underwriters a 30-day option to purchase up to an aggregate of 2,625,000 additional shares of common stock to cover over-allotments, if any. J.P. Morgan Securities LLC and Jefferies & Company, Inc. are acting as joint book-runners for the offering, with Needham & Company, Stifel Nicolaus Weisel and Wedbush PacGrow Life Sciences act as co-managers. LXRX is very active today and traded between $1.90 - 2.08 with total traded volume of 944510 shares. At a current price of 1.91, LXRX is -0.13 - -6.37% from the previous close of $2.04. Moreover, At Current Market Price, LXRX is in distance of -20.96% from its 50-day Moving Average price of $2.4165 and -10.75% from its 200-day Moving Average price of $2.1401.

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