Sector Update: Healthcare


Healthcare stocks were broadly lower Monday afternoon with the NYSE Healthcare Sector Index declining about 1.0% and shares of healthcare companies in the S&P 500 off 0.8% as a group.

In company news, shares of United Therapeutics Corp ( UTHR ) were propelled higher Monday after analysts at Standpoint Research raised their investment rating for the biotech company to Buy from Hold, citing its market-leading position with drugs intended to treat high blood pressure in the arteries between the heart and the lungs.

Standpoint also set a $118 a share price target for the stock, up from a prior range of $60 to $65 a share.

UTHR shares were ahead 3.3% at $93.96 each in late trade, earlier climbing to an intra-day high of $95.28 a share, up nearly 5%. The stock has a 52-week range of $59.02 to $116.65 a share.

In other sector news,

(+) QCOR, Jumps to new 52-week high after agreeing to $5.6 bln buyout by Mallinkrodt ( MNK ), with QCOR shareholders receiving $86.10 - consisting of $30 in cash and 0.897 MNK share - for each share they now own. MNK shares fell about 6% today.

(-) MNKD, FDA extends review period for the company's Afrezza inhaled insulin medication by three months to July 15 in order to complete a full review of MNKD data.

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: UTHR , MNK

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