Healthcare Sector Lower Near Bell; Omeros Jumps as Eye Drug Nears Shelves, Prompting Wedbush Upgrade


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Top Healthcare Stocks

JNJ -0.55%

PFE +0.33%

ABT +0.16%

MRK -1.04%

AMGN -1.60%

Healthcare stocks are moderately lower with the NYSE Healthcare Sector Index declining 0.5% and shares of healthcare companies in the S&P 500 also are off nearly 0.5% as a group.

In company news, Omeros ( OMER ) is holding on to a 14% gain in late Wednesday trade at $11.03 a share, earlier climbing less than 20 cents of its 52-week high of $11.85 after saying its OMS302 ophthalmology drug candidate is on track for a commercial launch early next year.

The U.S. Food and Drug Administration currently is reviewing OMS302 after recently accepting the company's new drug application while the European Medicines Agency also is considering OMER's marketing authorization application for the drug.

In a new research note today, Wedbush analyst Liana Moussatos said she was boosting her fair value estimate on OMERs shares by $4 to $32 a share while maintaining an Outperform rating.

"With U.S. and EU regulators formally accepting OMS302 for review, the time clock for approval begins," she said.

In other sector news,

(+) DCTH, FDA grants orphan drug designation for the company's melphalan hydrochloride medication as a treatment for a form of liver cancer. Melphalan for use with the Delcath Hepatic Delivery System currently is not approved in the U.S.

(-) STEM, Prices public offering of 11.7 mln shares of common stock at $1.45 each, generating $16.2 mln in gross proceeds.

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

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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