Health Care Sector Update for 04/24/2019: LJPC,ANTM,PRPO,MMSI

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Top Health Care Stocks

JNJ -0.28%

PFE +0.05%

ABT +0.79%

MRK -0.05%

AMGN -0.47%

Health care stocks remain mixed shortly before Wednesday's closing bell, including a more than 0.2% gain for the NYSE Health Care Index while shares of health care companies in the S&P 500 were down less than 0.1% as a group. The Nasdaq Biotechnology index was falling over 1.0%.

Among health care stocks moving on news:

(-) La Jolla Pharmaceutical ( LJPC ) was 3% lower shortly, reversing a 2% gain earlier in Wednesday's trading. The biopharmaceuticals this morning said its LJPC-0118 drug candidate to treat severe malaria received a breakthrough therapy designation from the US Food and Drug Administration. La Jolla is now expecting to file a new drug application for LJPC-0118 before the end of the year.

In other sector news:

(-) Precipio ( PRPO ) was fractionally lower after the specialty diagnostics company said it was launching a global expansion of its pathology business in a bid to create an enhanced revenue stream by extending its oncology and diagnostic services beyond the US.

(-) Anthem ( ANTM ) was fractionally lower after the health care benefits manager Wednesday reported above-consensus adjusted Q1 net income and revenue and also increased its FY19 earnings forecast. Excluding one-time items, Anthem sees its adjusted net income for the 12 months ending Dec. 31 topping $19.20 per share compared with its prior outlook expecting a non-GAAP profit this year of at least $19.00 per share.

(-) Merit Medical Systems ( MMSI ) retreated Wednesday, falling 4%. The disposable medical devices reported an increase in adjusted net income of $0.37 per share during its Q1 ended March 31 from $0.31 per share during the first three months of 2018 and beating the Capital IQ consensus by $0.01 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: LJPC , PRPO , ANTM , MMSI

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