Healthcare Stocks Holding on to Mid-Sized Gains; Oramed Climbs More Than 15% as Diabetes Treatment Nears New Testing

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Top Healthcare Stocks

JNJ +0.58%

PFE +0.26%

ABT -0.03%

MRK +0.13%

AMGN +0.52%

Healthcare stocks were mostly higher, with the NYSE Healthcare Sector Index advancing 0.4% and shares of healthcare companies in the S&P 500 were up 0.6% as a group.

In company news, shares of Oramed Pharmaceuticals ( ORMP ) jumped nearly 15% Monday after the development-stage drugmaker delivered to the U.S. Food and Drug Administration the protocol for Phase IIb testing of its oral insulin capsule treating both Type 1 and Type 2 diabetes.

The protocol was submitted under the company's existing investigational new drug application for its ORMD-0801 drug candidate. The double-blind, placebo controlled study will be carried out over seven days at an in-patient facility with 24 Type 1 diabetic patients. The U.S.-based study is slated to start before the end of March.

Shares were up 14.7% at $16.34 apiece, racing as high as $17.28 a share during the session. The stock has a 52-week range of $5.00 to $31.73 a share.

In other sector news,

(+) GALT, (+17.7%) Analysts at Aegis boost their price target for the biotech company working on liver treatments by 80% to $16 a share, maintaining a Buy rating for the stock.

(+) AEGR, (+1.7%) Shares reverse earlier declines that followed the company's issuing 10-year options to purchase up to 219,750 shares to 52 new employees. The options have an exercise price of $57.72 a share, with the first 25% vesting after one year and the remaining 75% vesting in monthly installments over the following three years.



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This article appears in: Investing , Commodities

Referenced Stocks: ORMP

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