Health Care Sector Update for 03/13/2019: AMRX,ACB,ACB.TO,GH,ASND

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Top Health Care Stocks

JNJ +0.27%

PFE +0.52%

ABT +0.42%

MRK +0.59%

AMGN +1.70%

Health care stocks still were rising in late Wednesday trading, including a 1.0% gain for the NYSE Health Care Index this afternoon. Shares of health care companies in the S&P 500 also were up more than 1.1% as a group while the Nasdaq Biotechnology index was climbing over 1.2%.

Among health care stocks moving on news:

(+) Amneal Pharmaceuticals ( AMRX ) rose over 13% on Wednesday after a new regulatory filing showed Robert Stewart, CEO and president of the specialty drugmaker, Tuesday bought 17,000 shares of its common stock at $11.92 apiece, spending a total of $202,640 for his initial purchase of Amneal shares.

In other sector news:

(+) Guardant Health ( GH ) jumped more than 20% at one point, reaching a record high of $98.25 a share, after the precision oncology company reported a Q4 net loss of $0.30 per share, improving on a $1.27 per share net loss during the year-ago period and beating the Capital IQ consensus by $0.05 per share. Revenue rose 64% year over year to $32.9 million, also topping the Street view expecting $25.9 million.

(+) Aurora Cannabis ( ACB ) climbed nearly 14% on Wednesday after the medical and recreational marijuana company said it was hiring activist investor Nelson Peltz to advise it on potential partnerships and global expansion. As part of the new partnership, the company provided Peltz with options to buy over 19.96 million common shares at CAD10.34 apiece.

(+) Ascendis Pharma ( ASND ) hit a new, all-time high of $131.76 a share. A regulatory filing late Tuesday showed funds affiliated with Orbimed Advisors LLC bought a combined 182,500 of the Danish drugmaker's shares on Jan. 30 to Jan. 31.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , US Markets
Referenced Symbols: AMRX , GH , ACB , ASND

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