Health Care Sector Update for 04/20/2017: IDXG,IMNP,SKLN

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Top Health Care Stocks

JNJ +0.44%

PFE +0.45%

MRK +0.83%

ABT -0.23%

AMGN +0.79%

Health care stocks were holding on to moderate gains Thursday afternoon, with the NYSE Health Care Index adding slightly more than 0.7% in value while shares of health care companies in the S&P 500 were up almost 0.6% as a group.

In company news, Interpace Diagnostics ( IDXG ) rose Thursday after the molecular diagnotics company this morning said it has completed an exchange of all of its remaining long-term secured outstanding debt.

Today's announcement follows the company and an institutional investor on Tuesday agreeing to swap a $3.5 million secured note for an equally sized secured convertible note, which the investor then converted into slightly more than 1.6 million shares of Interpace common stock with a conversion price of $2.20 a share, according to a regulatory filing last night.

IDXG shares were up 5.5% at $2.67 each, easing somewhat from a morning price peak today of $2.94 a share.

In other sector news,

(+) IMNP, (+50.8%) Signs letter of intent with Pint Pharma GmnH to commercialize Ceplene drug treatment for acute myeloid leukemia in Latin America. Pint also agrees to invest $4 mln in Immune Pharma's oncology division.

(-) MD, (-7.7%) Reduces Q1 guidance, cutting projected EPS to around $0.75 from prior outlook expecting between $0.86 to $0.90 per share and trailing the $0.87 per share consensus call. Also sees revenue coming in around $836 mln compared with $840.49 mln analyst mean.

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 , US Markets
Referenced Symbols: IDXG , IMNP , SKLN

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