Added BSTE at 28.49 on the news.
BSTE: Biosite licensing pact is big news for company -- Caris (28.39 +0.04)
Caris & Co comments that it believes that Cardiovascular Disease Test licensing agreement announced this morning is big news for Biosite. According to firm, this test is uniquely suited for use in the physician's office lab segment as it could become a standard screening and could be used BEFORE symptoms occur to show risk levels. Specifically, BSTE announced that The Cleveland Clinic has granted the company certain diagnostic rights to myeloperoxidase (MPO), a marker of inflammation in the walls of coronary arteries, which could signal a person's risk for heart disease or heart attack.
New England Journal of Medicine Highlights BNP as Early Warning Signal For Future Cardiovascular Disease
Thursday February 12, 7:34 am ET
What: The February 12, 2004 edition of the New England Journal of
Medicine, highlights two articles that focus on potential
use of B-type natriuretic peptide (BNP) levels as risk
determinant for heart attack and stroke; and as a tool for
helping emergency room physicians rapidly diagnose patients
presenting with shortness of breath -- with significant
savings in time and money for their subsequent care.
One minor insider buy at 2000 shares. No sells.
Biosite Drops on Earnings Miss
By TSC Staff
01/26/2004 05:00 PM EST
URL: thestreet.com
Biosite's (BSTE:Nasdaq) fourth-quarter earnings rose from a year ago, but not as much as investors were expecting, and the shares sold off in the after-hours session.
The hospital test kitmaker earned $5.15 million, or 32 cents a share, on revenue of $45.96 million in the latest quarter, compared with earnings of $4.97 million, or 31 cents a share, on revenue of $32.70 million a year ago. Analysts surveyed by Thomson First Call were forecasting earnings of 38 cents a share on revenue of $43.04 million.
The company said it still expects 2004 per-share earnings to rise by 20% to 30% over 2003's, which were $1.50 a share, and 2004 revenue to rise by 15% to 25% over 2003's, which was $169.3 million. Analysts surveyed by Thomson First Call were forecasting earnings of $1.83 a share in 2004 on revenue of $194.2 million.
Biosite saw its gross margin contract to 63% in the latest quarter, from 69% a year ago. It cited higher per-kit overhead costs stemming from slowed production, wherein "overhead costs were spread over a smaller production volume." Sales of its Triage BNP Test surged 19% sequentially.
Biosite was recently trading on the Instinet after-hours session at $31, down $1.79, or 5.5%, from its 4 p.m. EST close.
Chart is coming up after the miss. News seems psitive. Good reward/low risk.
Jack |
