Health Care Sector Update for 03/13/2015: NSPR,ANAC,GALE

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Top Health Care Stocks

JNJ -0.54%

PZE -0.10%

MRK -0.74%

ABT +0.08%

AMGN +0.01%

Health care stocks were outperforming most other sectors today with the NYSE Health Care Sector Index down only 0.1% and shares of health care companies in the S&P 500 falling about 0.1% as a group.

In company news, InspireMD ( NSPR ) fell Friday after analysts at Oppenheimer cut the medical device company to Perform from Outperform.

The downgrade follows NSPR last night reporting a Q4 net loss of $4.8 million, or $0.12 per share, improving on a $5.4 million net loss during the same quarter last year. Excluding one-time items, its net loss narrowed to $3.8 million, or $0.09 per share, compared with a $4.5 million last year.

Revenue declined 43.8% from year-ago levels to $900,000. Analyst estimates were not available for comparison.

NSPR shares were down over 3% at 28 cents apiece, just a penny above its session low. The stock has traded within a 52-week range of 23 cents to $3.60 a share, already dropping almost 91% over the past 12 months before today's decline.

In other sector news,

(+) ANAC, Q4 net loss of $0.24 per share is $0.35 narrower than expected. Also, three abstracts from recent testing of AN2728 drug candidate to treat atopic dermatitis accepted for March 20 industry conference.

(-) GALE, Prices $38 mln public offering of 24.36 mln units consisting of one share of common stock and one-half of a five-year warrant to buy an additional share at $1.56 per unit. Warrants are exercisable at $2.08 per share.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities
Referenced Symbols: NSPR

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