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Sector Update: Healthcare Shares Flat; Allergan Upgraded to Outperform at Wells Fargo

By: MT Newswires
Posted: 12/24/2013 8:54:00 AM
Referenced Stocks: AGN;BMY;BRLI;GENE;PFE

Healthcare stocks:

JNJ: +0.20%

PFE: flat

ABT: flat

MRK: flat

AMGN: flat

Healthcare shares are flat in pre-market trade.

Pharmaceutical company Allergan, Inc. ( AGN ) has been upgraded by analysts at Wells Fargo to Outperform from Market Perform. The firm raised its price target range to $121-$122 from $99-$100.

In the pre-market session, shares of AGN were level at $107.39, within a 52-week spread of $81.33 - $116.45.

And, Genetic Technologies ( GENE ) said today in an SEC filing that it has now granted a license to Bio-Reference Laboratories ( BRLI ). Terms of the deal were not disclosed.

The company says it is now actively pursuing its patent Assertion Programme in USA, and says several "significant cases" are now pending in the District of Delaware - including cases against Bristol Myers Squibb ( BMY ) and Pfizer ( PFE ).