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Now that first quarter earnings are finally over and all the companies I follow have finally reported their numbers, I decided to breakdown those companies whose reports stood out because of stockprice movement.

The good: Large cap biotech giants Gilead Sciences (GILD) and Amgen (AMGN) reported good numbers and their stock prices responded well, GILD up 2.49 and AMGN up 3.01. Human Genome Sciences (HGSI) rebounded well from the March 9th release of phase 3 Albuferon data as HGSI added .80 or almost 50 percent. Acorda (ACOR) also rebounded well from its March 31 NDA disappointment and soared 3.31, as this time the FDA accepted its NDA. Some others include Biomarin (BMRN) +.83, United Therapeutics (UTHR) +2.54, and AMAG Pharmaceuticals (AMAG) +4.15.

The bad: Large cap biotechs Biogen Idec (BIIB) and Genzyme (GENZ) shed 1.40 and 3.16 respectively. Cougar Biotechnology (CGRB) got hit for 1.96, which sure wasn't a sign of things to come as JNJ offered to buy it out on Friday. Some others with a bad reaction to earnings include OSI Pharma (OSIP) down 1.37, Cephalon (CEPH) down 1.30, Auxilium Pharma (AUXL) down 1.58 and Allergan (AGN) down 2.87.

The ugly: Large cap oncology giant Celgene (CELG) kicked the first quarter pre-announcements off with a disaster, lowering full year numbers, and the stock followed suit shedding 5.93. Myriad Genetics (MYGN) missed revenue estimates and finished down 4.04. And, ugliest of them all, on the day Sequenom (SQNM) released its first quarter report, it reported significant material issues with its SEQureDX Trisomy 21 test. SQNM finished down 11.29, or 76 percent.

Disclosure: long MYGN.

Source: Q1 2009 Biotech Earnings Roundup: The Good, the Bad, and the Ugly