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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 (NASDAQ:GILD) and Amgen (NASDAQ: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 (NASDAQ: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 (NASDAQ:BMRN) +.83, United Therapeutics (NASDAQ:UTHR) +2.54, and AMAG Pharmaceuticals (NASDAQ:AMAG) +4.15.

The bad: Large cap biotechs Biogen Idec (NASDAQ: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 (NASDAQ:CEPH) down 1.30, Auxilium Pharma (NASDAQ:AUXL) down 1.58 and Allergan (NYSE:AGN) down 2.87.

The ugly: Large cap oncology giant Celgene (NASDAQ: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 (NASDAQ:MYGN) missed revenue estimates and finished down 4.04. And, ugliest of them all, on the day Sequenom (NASDAQ: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