Health Care Sector Update for 05/01/2019: NBIX,NBRV,TDOC,HCSG

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Top Health Care Stocks

JNJ +0.24%

PFE +0.48%

ABT -1.14%

MRK +0.25%

AMGN -2.11%

Health care stocks continued to drift lower this afternoon, with the NYSE Health Care Index sinking over 0.3% in late trade while shares of health care companies in the S&P 500 also were down 0.2% as a group. The Nasdaq Biotechnology index fell almost 0.5%.

Among health care stocks moving on news:

(+) Neurocrine Biosciences ( NBIX ) was hanging on to a more than 3% advance after late Tuesday saying it will present data from phase III testing of its opicapone drug candidate showing the investigational treatment increased the amount of time patients with Parkinson's disease can control their symptoms at an upcoming industry conference. The oral presentation is scheduled for Sunday, May 5, at the American Academy of Neurology annual meeting in Philadelphia.

In other sector news:

(+) Teladoc ( TDOC ) was 2% higher this afternoon, giving back a large portion a 12.5% gain earlier Wednesday. The online health care company reported a Q1 net loss of $0.43 a share, wider than the year-earlier $0.39 a share but still beating the Capital IQ consensus expecting a $0.44 a share net loss.

(-) Healthcare Services Group ( HCSG ) slid over 5% on Wednesday after the nursing home services company missed Wall Street estimates with its Q1 net income and revenue and prompting Credit Suisse to lower its price target on its stock by $4 to $41 a share. The company earned $0.12 per share during the three months ended March 31 on $476.1 million in sales, trailing the Capital IQ consensus looking for a $0.36 per share profit on $489.6 million in revenue.

(-) Nabriva Therapeutics ( NBRV ) plunged as much as 28% on Wednesday after the biopharmaceuticals company said the US Food and Drug Administration told the company it needed to address certain issues before the agency could grant marketing approval of the company's Contepo injection for complicated urinary tract infections.

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: NBIX , TDOC , HCSG , NBRV

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