Sector Update: Health Care

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Healthcare stocks were higher Tuesday with the NYSE Healthcare Sector Index advancing about 0.8% and shares of healthcare companies in the S&P 500 also climbing about 1.0% as a group.

In company news, TG Therapeutics Inc. ( TGTX ) retreated Tuesday after the biotech reported a wider Q2 net loss compared with year-ago levels.

Net loss during the three months ended June 30 rose to $12.0 million, or $0.36 per share, from its $6.6 million net loss last year. Analysts were modeling a $0.24 per share loss. Revenue was little changed at $38,095.

It finished the quarter with around $51.2 million in cash, cash equivalents, investment securities and interest receivables, up from $45.4 million at December 31.

TGTX shares were down nearly 13% at $8.38 apiece, earlier sliding to an intra-day low of $8.26 a share.

In other sector news,

(+) HSTM, Q2 net income of $0.08 per share beats by $0.01. Revenue climbs 33.1% year over year to $42.5 mln, topping consensus view by around $1.5 mln. Expects 26% to 29% revenue growth during FY14; the Street is expecting 25.8% growth.

(-) CBAY, Prices follow-on public offering of 4 mln shares of its common stock at $5.50 each, a 7.9% discount to Monday's closing price.

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) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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