Sector Update: Health Care Shares Steady in Early Trade

By Staff,

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Top Health-care stocks:

JNJ: -0.01%

PFE: +0.18%

ABT: flat

MRK: flat

AMGN: +0.43%

Health-care shares were fairly flat in pre-market trade Tuesday.

In health-care stocks news, biopharmaceutical company Intercept Pharmaceuticals Inc. ( ICPT ) has been upgraded by analysts at Leerink Swann to an outperform rating from market perform.

The firm also boosted its price target on the stock to $445 from $270 a share, which represents a potential upside of 88% from its Monday close.

Shares of ICPT have soared nearly 58% to $373.84 in Tuesday's pre-market trading , moving within a 52-week range of $42.41 - $497. The gains follow earnings and a pipeline update issued Monday night.

And, Opko Health ( OPK ) shares edged higher in Tuesday's pre-market session, after the biopharmaceutical-and-diagnostics company late Monday reported a narrower-than-expected Q2 loss and released successful top-line results from the first pivotal phase 3 trial of its Rayaldee treatment for secondary hyperparathyroidism in patients with stage 3 or 4 chronic kidney disease and vitamin D insufficiency.

OPK was up 2.9% at $9.63 in recent pre-market trading, in a 52-week range of $7.32 to $12.95.

Finally, Insys Therapeutics ( INSY ) is up after the company said it submitted a New Drug Application to the U.S. FDA for its proprietary Dronabinol Oral Solution for anorexia associated with weight loss in patients with AIDS; and nausea and vomiting associated with cancer chemotherapy in patients who have failed to respond adequately to conventional antiemetic treatments.

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 , OPK , INSY

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