Health Care Sector Update for 01/25/2018: OCUL,KPTI,BIIB,SNN,XLNX

Shutterstock photo

Top Health Care Stocks

XOM -0.11%

CVX -0.49%

COP -1.60%

SLB -0.95%

OXY -1.03%

Health care stocks easily outpaced other sectors today, maintaining their strong advance, including a nearly 0.9% gain for the NYSE Health Care Index in recent trade. Also today, shares of health care companies in the S&P 500 were up almost 0.8% as a group while the Nasdaq Biotechnology index was putting up a more than 0.6% advance today.

Among health care stocks moving on news:

- Ocular Therapeutix ( OCUL ) plunged over 17% on Thursday, dropping to a session low of $5.13 a share, after today announcing plans for a $32.5 million public offering of 6.5 mln common shares at $5 each, a 19.2% discount to Wednesday's closing price. The company also provided underwriters with 30-day options to buy up to 975,000 additional shares to cover potential overallotments.

In other sector news:

+ Karyopharm Therapeutics ( KPTI ) raced to an 8% gain and a session high of $11.30 a share at one point Thursday after announcing a $217 mln deal selling its KPT-350 prospective treatment for various neurological, autoimmune and inflammatory conditions to biotech conglomerate Biogen ( BIIB ). The transaction includes a one-time $10 mln upfront payment and Karyopharm is eligible for up to $207 mln in additional payments as KPT-350 reaches certain development and commercial milestones.

+ Smith & Nephew ( SNN ) rose over 4% on Thursday after analysts at JPMorgan raised their investment recommendation for the medical equipment manufacturer to Overweight from Neutral.

- Xilinx ( XLNX ) turned lower this afternoon, giving back a 4% advance earlier today that followed the company reporting an 8% increase in fiscal Q3 sales over year-ago levels to $631 mln, roughly in-line with the $630 mln analyst mean. It also earned $0.05 per share during the quarter, which includes around $183 mln in tax-related costs. Analysts, on average, were expecting a $0.63 per share profit.

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 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , US Markets
Referenced Symbols: OCUL , KPTI , BIIB , SNN , XLNX

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?