Healthcare Stocks Mixed; ZELTIQ Aesthetics Slumps After Early Investors Move to Cash In On Recent Price Gains


Top Healthcare Stocks

JNJ +0.13%

PFE -0.32%

ABT +0.24%

MRK +1.15%

AMGN -1.55%

Healthcare stocks are narrowly mixed, with the NYSE Healthcare Sector Index ahead about 0.3% while shares of healthcare companies in the S&P 500 are down 0.3% as a group this afternoon.

In company news, ZELTIQ Aesthetics Inc. ( ZLTQ ) is down 4.4% at $14.67, trading underwater throughout the session after last night disclosing plans to sell 3.5 million shares of its common stock now owned by Advanced Technology Ventures, an earlier investor in the medical device company.

The underwritten offering will also include Aisling Capital and Venrock Associates each selling 500,000 shares, according to a preliminary prospectus for the deal filed with the U.S. Securities and Exchange Commission.

ZLTQ - which saw its stock last week surge to its best price levels since its initial public offering just over two years ago following strong Q3 earnings and forward guidance - will not receive any proceeds from the offering.

In other sector news,

(+) OXGN, (+74.4%) Said its Zybrestat drug candidate showed statistically significant differences between the treatment and control arms in pre-clinical testing using a model of pancreatic neuroendocrine tumors.

(-) NAVB, (-17.7%) Q3 loss of $0.09 per share is $0.01 wider than the Capital IQ consensus. Reports $400 mln in quarterly revenue, also lagging expectations by around $70,000.

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

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

This article appears in: Investing , Commodities

Referenced Stocks: ZLTQ

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