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Health Care Sector Update for 05/15/2019: ECOR, ACB, IMGN


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Top Health Care Stocks

JNJ +0.21%

PFE +1.24%

ABT +0.63%

MRK +0.37%

AMGN +0.94%

Health care stocks were rising, including a nearly 0.4% gain for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 also were up more than 0.3% as a group while the Nasdaq Biotechnology index was climbing over 0.4%.

Among health care stocks moving on news:

(-) electroCore ( ECOR ) plunged 25% on Wednesday. The medical device company reported a Q1 net loss of $0.47 per share, beating the Capital IQ consensus call expecting a $0.54 per share net loss, while net sales jumped to $409,600 from just $81,200 during the year-ago period but still lagged the $500,000 three-analyst mean.

In other sector news:

(+) Aurora Cannabis ( ACB ) was 5% higher, turning around a 4% decline earlier in the session after the Canadian medical and recreational marijuana reported a four-fold increase in fiscal Q3 revenue, rising to CND65.1 million from CND16.1 million during the same quarter last year.

(-) ImmunoGen ( IMGN ) was down 37% after the US Food and Drug Administration recommended the company conduct another phase III trial of its mirvetuximab soravtansine drug candidate in patients with high folate receptor alpha-positive, platinum-resistant ovarian cancer.

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: ECOR , ACB , IMGN



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