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Biotechnology, Health and Business in Canada, the United States and Worldwide

Share Price Performance in Q3 2013 for the Canadian Healthcare Sector: An upbeat quarter for the larger cap public companies (Part 1)

Wayne Schnarr - seriousIn order to assess share price performance in 2013 among the Canadian public healthcare companies, I have used an initial portfolio of 118 companies. The portfolio has been split into three parts according to the closing share price on December 31, 2012: $1.00 or more (38 companies); $0.10 to $0.99 (53 companies); and less than $0.10 (originally 27 companies).

In this blog, I am going to comment on the Q3 and 9-month performance of the first group of companies with share prices of $1.00 or more to start 2013. Whereas there is usually little share price movement in the slow summer quarter, Q3 2013 was very upbeat and the performance in the first 9 months of 2013 is actually strong.

Q3 Performance

  • Advancers outnumbered decliners by 28 to 10
  • Average and median Q3 share price changes were +6% and +12%, respectively, versus +2% and -1% in Q2
  • Average share price changes by subgroup
    • Therapeutics: +25% vs. +2% in Q2 (17 companies)
    • Diagnostics & Devices: -3% vs. +2% in Q2 (9 companies)
    • Services: +2% vs. +4% in Q2 (9 companies)
    • Others: +14% vs. -2% in Q2 (3 companies)
  • Four companies had share price increases of 40% or more
    • Resverlogix (RVX; +157%): moved up on release of additional data from its Phase 2b ASSURE clinical trial of RVX208, for which the failure to meet the primary clinical endpoint was previously announced (92% share price decline in Q2)
    • Merus Labs International (MSL; +71%): bounced off mid-June lows with the share price returning to levels of a year earlier
    • Tekmira Pharmaceuticals (TKM; +53%): rose from a share price plateau, probably based on both its own clinical news and news from other RNAi companies
    • Cipher Pharmaceuticals (DND; +49%): continued to climb on increased sales and earnings
  • One company had  a share price decline of more than 40%
    • IMRIS (IM; -44%): continued a year-long slow share price decline

 

9-month Performance

  • Advancers outnumbered decliners by 24 to 14
  • Average and median share price increases were 14% and 22%, respectively
  • Average share price changes by subgroup
    • Therapeutics: +19%
    • Diagnostics & Devices: +37%
    • Services: +16%
    • Others: +11%
  • Thirteen companies had share price increases of 40% or more
    • TearLab (+172%)
    • Cipher Pharmaceuticals (+152%)
    • Response Biomedical (+140%)
    • Novadaq Technologies (+93%)
    • Transition Therapeutics (+90%)
    • Patheon (+83%)
    • Valeant Pharmaceutical International (+81%)
    • Neptune Technologies & Bioressources (+63%)
    • CML HealthCare (+62%)
    • Paladin Labs (+49%)
    • Neovasc (+47%)
    • Atrium Innovations (+46%)
    • Tekmira Pharmaceuticals (+44%)
  • Four companies had  share price declines of more than 40%
    • Resverlogix (-63%)
    • Titan Medical (-60%)
    • Trimel Pharmaceuticals (-57%)
    • IMRIS (-55%)

[The opinions expressed herein are the author’s own and are not to be construed as investment advice. The author and his immediate family members may have long or short positions in the shares of some companies mentioned in or assessed during the preparation of this blog and may buy, sell or hold such securities at any time. Past share price performance may not be an indicator of future share price performance. This blog and its contents do not consider the investment objectives, financial situation or particular needs of any particular person. Investors should obtain professional advice based on their own individual circumstances before making an investment decision.]

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