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Health Care Sector Update for 04/17/2018: NVCR,JNJ,CLVS


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Top Health Care Stocks

JNJ -1.39%

PFE -0.38%

ABT +0.40%

MRK +1.18%

AMGN +1.90%

Health care stocks were higher Tuesday, including a more than 0.4% gain for the NYSE Health Care Index in recent trading. Shares of health care companies in the S&P 500 were up almost 0.8% as a group while the Nasdaq Biotechnology index was rising nearly 2.2%.

Among health care stocks moving on news:

+ NovoCure ( NVCR ) raced over 9% higher on Tuesday after reporting positive top-line phase II results demonstrating meaningful improvements in overall survival and progression-free survival among patients who received Tumor Treating Fields plus standard of care chemotherapy, pemetrexed and cisplatin or carboplatin. The results were compared to historical control data of patients who received standard of care chemotherapy alone, the company said on Tuesday.

In other sector news:

- Johnson & Johnson ( JNJ ) declined Tuesday despite the health conglomerate reporting Q1 financial results exceeding analyst expectations. Excluding one-time items, the company earned $2.06 per share during the three months ended March 31, up from $1.83 per share during the same quarter last year and beating the Capital IQ consensus by $0.06 per share. Sales rose to $20.01 billion from $17.77 billion last year, also topping the $19.50 billion Street view. The company also is projecting FY18 earnings and revenue in-line with Wall Street expectations.

- Clovis Oncology ( CLVS ) dropped as much as 3% on Tuesday after the biopharmaceuticals company late Monday priced a $300 million public offering of 1.25% convertible senior notes due 2025 at 100% of par together with a $100 million public offering of 1.8 million shares priced at $54.41 per share, matching the company's most recent closing price. The notes have an initial conversion price of around $76.17 per share.

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: NVCR , JNJ , CLVS


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