Healthcare Stocks Adding to Earlier Gains; Intercept Pharmaceuticals Extends Rally Another Day, Rising 60%

By Staff,

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Healthcare stocks are narrowly mixed with the NYSE Healthcare Sector Index climbing about 0.3% while shares of healthcare companies in the S&P 500 also rising 0.3% as a group.

In company news, Intercept Pharmaceuticals Inc. ( ICPT ) rallied for a fourth day in a row, supported today by analysts at Janney Capital raising its price target for the biopharmaceutical stock to $300 from $55 a share.

The stock more than tripled during Thursday's session after regulators ended testing of the company's obeticholic acid for the treatment of nonalcoholic steatohepatitis early after an interim analysis showed it already met the primary endpoint.

Shares were up 62% just before the close at $447.10 each, reaching an intraday high of $497.00.

(+) IMMU, (+14.7%) First patient receives dosing in Phase III trial of the company's yttrium 90-clivatuzumab tetraxetan drug candidate combined with low-dose gemcitabine in patients with metastatic pancreatic cancer who received two prior treatments.

(-) AEGR, (-12.4%) Receives Justice Department subpoena seeking documents about the drug-maker's sales of its Juxtapid cholesterol medication. Forecasts FY13 net product sales of $48 mln to $49 mln, trailing analyst consensus by at least $780,000.

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
Referenced Stocks: ICPT

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