Health Care Sector Update for 05/02/2019: ABC,ACAD,CGC

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Top Health Care Stocks

JNJ -1.19%

PFE +0.16%

ABT -0.46%

MRK +0.51%

AMGN +0.08%

Health care stocks were falling, including a 0.2% loss for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 were down 0.1% as a group while the Nasdaq Biotechnology index was little changed.

Among health care stocks moving on news:

(+) AmerisourceBergen ( ABC ) rose almost 5% after the pharmaceuticals distributor reported non-GAAP net income of $2.11 per share during its fiscal Q2 ended March 31, up from $1.94 per share during the same quarter last year and beating the Capital IQ by $0.15 per share. It also raised its FY19 earnings outlook by $0.05 on both sides of its prior forecast range, now expecting between $6.70 to $6.90 per share. The Street is at $6.77 per share.

In other sector news:

(+) ACADIA Pharmaceuticals ( ACAD ) climbed 6% on Thursday after the specialty drugmaker saw its revenue rise 28.8% over year-ago levels to $62.96 million, topping the $60.93 million analyst mean. The company also raised the bottom end of its expected sales range for its Nuplazid medication by $5 million, now looking for between $280 million and $300 million in sales for the Parkinson's treatment.

(-) Canopy Growth Corp ( CGC ) fell 5% on Thursday after the Canadian medical marijuana company said it acquired C3 Cannabinoid Compound Co, paying CAD342.9 million in cash for the German prescription medicines company.

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: ABC , ACAD , CGC

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