Health Care Sector Update for 03/19/2019: TLRY,SYNH,TYHT,AQB

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Top Health Care Stocks

JNJ +0.66%

PFE +0.86%

ABT +1.33%

MRK +0.45%

AMGN +0.08%

Health care stocks continue to outpace most other sectors, including a 0.6% gain for the NYSE Health Care Index in late trade. Shares of health care companies in the S&P 500 also were up 0.6% as a group while the Nasdaq Biotechnology index was slipping less than 0.1%.

Among health care stocks moving on news:

(-) Tilray ( TLRY ) fell 3% after the medical cannabis company saw its Q4 net loss widen to $0.33 per share from a $0.04 per share loss during the year-ago period and more than doubling the Capital IQ consensus expecting a $0.14 per share net loss for the three months ended Dec. 31.

In other sector news:

(+) Shineco ( TYHT ) was soaring in recent trading, climbing 88%, after the specialty drugmaker announced the launch of its Beijing Tenjove Newhemp Biotechnology subsidiary as part of its efforts to tap into the industrial cannabis market in China. The new unit market will plant industrial hemp and processing CBD in addition to developing CBD derivatives.

(+) Syneos Health ( SYNH ) jumped 9% after late Monday reporting adjusted net income of $0.95 per share during its Q4 ended Dec. 31, up from $0.70 during the same quarter in 2017 and beating the Capital IQ consensus by $0.13 per share.

(-) AquaBounty Technologies ( AQB ) slumped Tuesday, falling 20%, after the biotechnology company developing genetically modified salmon priced a $7.5 million public offering of nearly 3.35 million shares at $2.25 each, representing a 19.6% discount to Monday's closing price for the stock.

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: TLRY , TYHT , SYNH , AQB

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