Health Care Sector Update for 07/20/2017: SBPH,GILD,SRPT,CFRX

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Top Health Care Stocks

JNJ +1.29%

PFE -0.19%

ABT +2.99%

MRK +0.79%

AMGN +0.60%

Health care stocks were on top of Thursday's leaderboard, with the NYSE Health Care Index climbing almost 0.9% while shares of health care companies in the S&P 500 were up more than 0.8% as a group.

In company news, Spring Bank Pharmaceuticals ( SBPH ) jumped out to a nearly 13% gain on Thursday, topping out at $16.00 a share after analysts at Cantor Fitzgerald began covering the early-stage biotech company with an Overweight investment recommendation and a $29 price target.

The new rating follows the company's earlier this month announcing a collaboration pact with rival biotech Gilead Sciences ( GILD ) for a second clinical trial of a combination of Spring Bank's SB9200 immunomodulator and Gilead's Vemidy hepatitis B drug treatment.

In other sector news,

(+) SRPT, (+26.2%) Non-GAAP net loss of $0.46 per share is $0.32 per share smaller than Street view. Also reports $35.01 mln in revenue, topping the $22.52 mln consensus. Raises FY17 revenue outlook by $30 mln to a range of $125 mln to $130 mln, exceeding the $105.13 mln consensus call.

(-) CFRX, (-10.3%) Prices $40 mln public offering of 32 mln shares at $1.25 apiece. Also issues warrants to buy up to 16 mln more shares at $1.55 apiece.

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: SBPH , GILD , SRPT , CFRX

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