Health Care Sector Update for 07/30/2018: APLS,SOHU,MNOV,MRK

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Top Health Care Stocks

JNJ +0.48%

PFE +0.51%

ABT -0.03%

MRK +1.98%

AMGN -1.04%

Health care stocks have turned slightly higher in late trading, including a nearly 0.1% advance for the NYSE Health Care Sector Index. Also, shares of health care stocks in the S&P 500 also were up over 0.1% as a group although the Nasdaq Biotechnology Index still was declining nearly 0.8%.

Among health care stocks moving on news:

+ Apellis Pharmaceuticals ( APLS ) was up more than 6% late in Monday trading after analysts at B Riley FBR Monday raised their investment rating for the drugmaker to Buy from Neutral and also assigned a $27 price target to the company's stock. The upgrade follows U.S. regulators last week giving a Fast Track designation to the company's APL-2 drug candidate as a next-generation monotherapy for the treatment of patients with geographic atrophy.

In other sector news:

+ Merck ( MRK ) was more than 1% higher on Monday after the pharmaceuticals giant said an European advisory panel recommended a combination of its Keyruda cancer medication with pemetrexed and platinum chemotherapy be approved by regulators as a first-line treatment of certain types of non-small cell lung cancer.

- MediciNova ( MNOV ) was narrowly lower Monday afternoon, swinging in a relatively tight range either side of its break-even mark after saying the clinical trial of its MN-166 drug candidate is now fully enrolled with 35 subjects. The study will use a biomarker to measure the ability of the prospective treatment for amyotrophic lateral sclerosis to reduce brain microglial activation.

- Sohu.com ( SOHU ) dropped over 14% on Monday after Q2 its revenue lagged the $506.8 million Capital IQ consenus by $20.8 million, although its non-GAAP net loss was smaller than expected. Its projected Q3 earnings and revenue also trail Street views.

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: APLS , MRK , MNOV , SOHU

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