Top Health Care Stocks
Health care stocks extended their early gains, with the the NYSE Health Care Index rising nearly 1.2%. Shares of health care companies in the S&P 500 also were down just under 1.3% as a group while the the Nasdaq Biotechnology index was almost 1.2% higher this afternoon.
Among health care stocks moving on news:
(+) West Pharmaceutical Services ( WST ) was ahead over 6% shortly before Thursday's closing bell after beating Wall Street expectations with its non-GAAP Q1 net income and revenue, earning $0.74 per share during the three months ended March 31 on $443.5 million in net sales. Analysts had been looking for the drug containment and delivery systems company to report a $0.62 per share adjusted profit on $431 million in revenue.
In other sector news:
(+) Bristol-Myers Squibb ( BMY ) was almost 2% higher this afternoon. The drugmaker Thursday reported adjusted Q1 net income of $1.10 per share compared with $0.94 per share during the same quarter last year and exceeding the Street view by $0.02 per share. Total revenue jumped 14% year-over-year to $5.92 billion, also topping the $5.72 billion consensus call.
(-) Exelixis ( EXEL ) slipped almost 2% on Thursday. It said corporate partner Takeda Pharmaceutical has formally sought approval from the Japanese Ministry of Health, Labor and Welfare to start manufacturing and selling Exelixis' cabozantinib drug candidate to treat unresectable and metastatic renal cell carcinoma in that country and triggering a $10 million milestone payment for the company from Takeda.
(-) Alkermes ( ALKS ) dropped over 12% after the specialty drugmaker saw its Q1 net loss widen to $0.17 per share compared with its $0.09 per share net loss during the same quarter last year. Revenue also declined, falling to $223.1 million from $225.2 million during the year-ago period. Analysts, on average, had been looking for a $0.17 per share loss on $216.7 million in revenue during the quarter.