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Sector Update: Healthcare

By: MT Newswires
Posted: 10/16/2013 2:34:00 PM
Referenced Stocks: GERN

Healthcare stocks are solidly higher, with the NYSE Healthcare Sector Index adding 1.1% and shares of healthcare companies in the S&P 500 climbing 1.6% as a group.

In company news, Geron Corporation ( GERN ) is surging in afternoon trade, climbing more than 41% to $4.40 a share, earlier reaching to a new 52-week high of $4.62 after the biotech company received a Buy rating late Tuesday in new coverage at MLV & Co.

MLV also placed a $6.50 price target on the stock.

In other sector news,

(+) OXGN, (+6.2%) Said its Zybrestat drug candidate "significantly reduced tumor size" in mice during pre-clinical testing. Trial data for prospective treatment for pancreatic cancer will be presented at an industry conference in Boston next week.

(-) RTIX, (-5.6%) Reduces Q3 revenue guidance by $4.3 mln to $54.7 mln.