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

Shutterstock photo

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.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , US Markets
Referenced Symbols: ECOR , ACB , IMGN

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities

Research Brokers before you trade

Want to trade FX?