Health Care Sector Update for 08/15/2019: RKDA,A,TTNP

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Top Health Care Stocks

JNJ -0.65%

PFE -0.26%

ABT -0.39%

MRK -0.44%

AMGN +0.05%

Health care stocks were mixed, with a more than 0.4% gain for the NYSE Health Care Index while the shares of health care companies in the S&P 500 were down 0.2%. The Nasdaq Biotechnology index was dropping 0.4%.

Among health care stocks moving on news:

(+) Arcadia Biosciences ( RKDA ) was nearly 19% higher Thursday afternoon after the health and nutrition ingredients company reported a surprise Q2 profit, earning $0.84 per share and reversing a $2.02 per share net loss during the year-ago period and breezing past the Capital IQ consensus expecting a $0.91 per share net loss.

In other sector news:

(+) Agilent Technologies ( A ) rose 6% after the life sciences and diagnostics company late Wednesday reported fiscal Q3 financial results exceeding Wall Street expectation and projected FY19 net income and revenue also topping analyst estimates. Excluding one-time items, it earned $0.76 per share, up from $0.67 per share during the year-ago period and beating the Capital IQ consensus by $0.04 per share. Revenue increase to $1.27 billion from $1.20 billion, also exceeding the $1.24 billion analyst mean.

(-) Titan Pharmaceuticals' ( TTNP ) at point dropped 39.2% to a new, all-time low on Thursday after the drugmaker reported a wider-than-expected Q2 net loss and warned it only has enough cash to continue operations through October. Net loss for the three months ended June 30 increased to $0.38 per share share compared with a $0.25 per share net loss during the year-ago period and missing the Capital IQ consensus expecting a $0.27 per share net loss. Revenue dropped 81.2% to just $502,000, also missing the $903,000 Street view.

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: RKDA , A , TTNP

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