Sector Update: Healthcare Stocks Close Lower Monday; Actavis Adds 2% After Morgan Stanley Boosts Price Target, Investment Rating


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JNJ -0.51%

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MRK -0.73%

AMGN -1.52%

Healthcare stocks were moderately lower with the NYSE Healthcare Sector Index sinking about 0.4% and shares of healthcare companies in the S&P 500 down around 0.3% as a group.

In company news, Actavis plc ( ACT ) was hanging on to a 2% gain late in Monday's session after analysts at Morgan Stanley today resumed coverage of the drugmaker with an Overweight rating and a $300 a share price target, up $70 over its prior outlook.

ACT shares were up 2% at $221.31 each this afternoon, earlier advancing to a session high of $233.18 a share. The stock has a 52-week range of $118.92 to $230.77 a share, rising slightly more than 82% over the past 12 months.

In other sector news,

(+) NSPH, Inks deal with Parallon to supply its HealthTrust hospital chain with Verigene diagnostic tests to identify and treat patient infections. Financial terms were not disclosed but NSPH said the deal includes all 1,400 Healthtrust facilities.

(-) BLRX, Licenses BL-1110 drug candidate for treatment of neuropathic pain after the experimental drug was shown in pre-clinical studies to enhance analgesic effects of morphine while also reducing negative side effects.

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

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