Harvard Bioscience Rallies After Q3 Earnings Report
Harvard Bioscience’s stock price improved 9 percent in the past week, as the BioCommerce Week Index posted a second consecutive week of gains.
Led by Harvard Bio, 13 of the 15 companies on the BCW Index saw their stock prices rise over the previous week’s close.
After Chane Graziano, Harvard Bio’s CEO, told analysts in the company’s earnings call two weeks ago that “the worst is behind us,” HBIO’s stock rallied this week, closing on Tuesday at $4.32, up over last week’s close of $3.95.
Bruker, on the other hand, which also reported quarterly earnings last week (see article, page 1), saw an 11-percent drop in its stock price, closing Tuesday at $3.06, down from $3.45 a week ago.
Bio-Rad Laboratories, which also reported its financial results last week (see article, page 1), suffered a 1-percent loss for the week as its stock closed at $52.35, down from $53.03.
Waters, Beckman Coulter, and Becton Dickinson finished the week with 5 percent improvements in their stock prices, while Sigma-Aldrich, Invitrogen, and Molecular Devices charted 4 percent improvements.
PerkinElmer and Thermo Electron saw 3 percent improvements in their stock prices while Agilent and Applied Biosystems had 2 percent gains.
Stratagene (which reported Tuesday; for details, see page 8) and GE, had a 1-percent improvement in their stock prices.
Agilent Technologies closes out the earnings season for the companies of the BCW Index, reporting its earnings on Thursday, Nov. 11.
Overall, the BCW Index closed the week up 3.5 percent, finishing at $33.30 compared to last week’s close of $32.18, which marked a third consecutive weekly loss for the index, which tracks select multiplatform molecular biology tools companies.
By comparison, the Amex Biotech Index was up over 2 percent for the five-day period, while the Amex Pharmaceutical Index was up a half percent, and the Nasdaq Index was up nearly 2 percent. The Dow Jones and S&P 500 indices were up nearly 2 percent.