Top Health Care Stocks
Health care stocks outpaced other sectors on Friday for a second day in a row, including a more than 1.2% gain for the NYSE Health Care Index in recent trade. Also today, shares of health care companies in the S&P 500 were up over 1.4% as a group while the Nasdaq Biotechnology index was posting a nearly 2.7% gain today.
Among health care stocks moving on news:
- Stellar Biotechnologies ( SBOT ) plunged to a new, all-time low on Friday, falling over 43% to a worst-ever $2.20 a share, after pricing a $5.5 million public offering of nearly 2.08 million shares at $2.65 apiece, a 31.7% discount to Thursday's closing price. Investors also received a five-year warrant to buy another share, also at $2.65 each, for each share they purchased in the offering.
In other sector news:
+ Akcea Therapeutics ( AKCA ) was nearly 14% higher in late Friday trading, easing from a previous 21% advance earlier in the session that followed a U.S. Food and Drug Administration advisory panel late Thursday voting 12-to-8 to recommend the agency approve the company's volanesorsen drug candidate to treat two rare metabolic disorders. The FDA is expected to make a decision on the prospective treatment for familial chylomicronemia syndrome and familial partial lipodystrophy by August 30.
- Geron ( GERN ) tumbled Friday, stabilizing around 7% lower after earlier sinking over 10% to a session low of $3.25 a share, after the biopharmaceuticals company reported a nearly 41% decline in Q1 revenue compared with year-ago levels. The company generated $318,000 in revenue during the three months ended March 31, down from $537,000 during the same quarter last year. It narrowed its Q1 net loss year-over-year, improving to a net loss of $0.04 per share, or a penny better than the first three months of 2017 and also beating the single-analyst call expecting a $0.05 per share net loss. Analyst estimates for Q1 revenue were not available for comparison.