Health Care Sector Update for 05/21/2019: QTNT,ARRY,AMRX,OCUL

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Top Health Care Stocks

JNJ +0.03%

PFE +0.16%

ABT +0.62%

MRK +0.83%

AMGN +0.93%

Health care stocks eased slightly just ahead of Tuesday's closing bell, with the NYSE Health Care Index rising over 0.7% while shares of health care companies in the S&P 500 were up nearly 1.0% as a group. The Nasdaq Biotechnology index was ahead over 2.0%.

Among health care stocks moving on news:

(+) Quotient ( QTNT ) was 2.5% higher shortly in late trade after the US Food and Drug Administration approved the commercialization of seven additional blood bank reagents for its Alba antigen typing system. The agency previously approved seven other Quotient reagents in March 2018 and this week's decision more than tripled the number of FDA-approved product offerings for the company since it entered the American market.

In other sector news:

(+) Array BioPharma ( ARRY ) raced 22% higher after Tuesday announcing positive interim results from phase III testing of a combination of its Braftovi BRAF inhibitor, Mektovi MEK inhibitor and Erbitux anti-EGFR antibody, meeting both primary endpoints of confirmed objective response rate and a statistically significant improvement in overall survival in patients with BRAFV600E-mutant metastatic colorectal cancer following one or two prior lines of therapy.

(+) Amneal Pharmaceuticals ( AMRX ) climbed 10% on Tuesday after Raymond James raised its investment recommendation on the specialty and generics drugmaker to strong buy from a previous call of market perform.

(-) Ocular Therapeutix ( OCUL ) dropped 23% after the biopharmaceuticals company said its OTX-TP experimental treatment for glaucoma did not meet its primary endpoint, failing to demonstrate a statistically superior mean reduction of intraocular pressure compared with patients in the placebo group. Raymond James and Cowen both downgraded the company's stock.

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: QTNT , ARRY , AMRX , OCUL

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