VIVUS gains 11% to 52-week high after turning profit in Q2

VIVUS Inc. (Nasdaq:VVUS) is up more than 11% to a 52-week high today after reporting its second-quarter earnings had turned to profit. The company said after Monday’s close its net income for second quarter was $3.6 million, or $0.06 per share, compared to a net loss of $6.7 million, or $0.11 a share, for the same period a year earlier. Revenues were $25.3 million, up from $4.1 million a year ago. Analysts were expecting a net loss of $0.03 on revenues of $24.5 million. Despite this, RBC Capital Markets downgraded the stock to “sector perform” from “outperform” ahead of the opening today.

VIVUS is a Mountain View, Calif.-based pharmaceutical company. Shares are at $9.24 at 2:03 p.m. ET, up $0.90 from Monday’s close. The stock hit a 52-week high at $9.27 around mid-session.

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